Boyd Group Services Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	18.42	24.54	86.66	40.96	23.54
Depreciation & Amortization	240.71	223.18	190.23	172.94	152.56
Other Amortization	3.27	2.14	2.63	2.68	1.14
Stock-Based Compensation	4.32	0.93	-	-	-
Other Operating Activities	80.53	68.44	58.97	49.19	33.56
Change in Accounts Receivable	-15.86	23.44	-5.96	-37.64	-10.4
Change in Inventory	6.38	5.65	2.29	-11.65	-30.82
Change in Accounts Payable	22.45	-27.2	29.95	52.96	37.41
Change in Income Taxes	2.15	-4.62	-2.05	1.87	-1.5
Change in Other Net Operating Assets	-9.37	-3.17	-5.15	-7.06	-8.76
Operating Cash Flow	352.99	313.33	357.55	264.25	196.71
Operating Cash Flow Growth	12.66%	-12.37%	35.31%	34.33%	-14.81%
Capital Expenditures	-54.31	-77.33	-57.48	-33.37	-31.48
Sale of Property, Plant & Equipment	0.81	0.72	0.56	2.75	1.15
Cash Acquisitions	-218.54	-192.49	-180.29	-71.71	-317.49
Sale (Purchase) of Intangibles	-8.09	-3.12	-1.68	-0.26	-4.92
Other Investing Activities	53.11	64.49	-5.5	54.67	-1.36
Investing Cash Flow	-227.02	-207.74	-244.4	-47.93	-354.1
Long-Term Debt Issued	963.96	365.99	260.47	126.09	330.5
Long-Term Debt Repaid	-661.6	-392.96	-305.15	-307.11	-168.4
Net Debt Issued (Repaid)	302.36	-26.97	-44.68	-181.02	162.1
Issuance of Common Stock	897.01	-	-	-	-
Common Dividends Paid	-9.37	-9.45	-9.38	-9.55	-9.65
Other Financing Activities	-122.82	-70.46	-51.87	-37.8	-28.08
Financing Cash Flow	1,067	-106.88	-105.93	-228.37	124.37
Foreign Exchange Rate Adjustments	15.46	-1.23	0.23	-0.6	-0.31
Net Cash Flow	1,209	-2.51	7.44	-12.65	-33.33
Free Cash Flow	298.68	235.99	300.06	230.88	165.24
Free Cash Flow Growth	26.57%	-21.35%	29.97%	39.73%	-20.11%
Free Cash Flow Margin	9.50%	7.69%	10.18%	9.49%	8.82%
Free Cash Flow Per Share	13.28	10.99	13.97	10.75	7.70
Cash Interest Paid	70.72	68.4	51.51	36.91	27.55
Cash Income Tax Paid	3.67	12.3	27.91	3.86	4.01
Levered Free Cash Flow	237.46	161.17	236.01	178.75	124.88
Unlevered Free Cash Flow	285.92	204.69	268.43	202.06	142.16
Change in Working Capital	5.75	-5.91	19.07	-1.52	-14.08

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.