CES Energy Solutions Cash Flow Statement

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

Millions CAD. 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	204.72	191.11	154.64	95.22	49.88
Depreciation & Amortization	104.26	85.68	72.85	74.48	67.98
Stock-Based Compensation	9.33	11.71	9.73	6.34	7.17
Other Adjustments	6.09	4.51	14.43	18.98	-7.78
Changes in Other Operating Activities	-39.03	11.66	50.13	-197.76	-191.66
Operating Cash Flow	285.37	304.66	301.78	-2.74	-74.41
Operating Cash Flow Growth	-6.33%	0.96%	-	-	-
Capital Expenditures	-86.17	-88.64	-72.18	-52.39	-25.89
Sale of Property, Plant & Equipment	10.46	7.53	11.16	8.57	17.91
Purchases of Intangible Assets	-12.94	-4.47	-1.72	-0.78	-1.54
Payments for Business Acquisitions	-13.64	-10.21	-1.52	-9.56	-
Other Investing Activities	-2.6	0.57	-7.58	7.37	-3.25
Investing Cash Flow	-104.88	-95.22	-71.83	-46.79	-12.76
Long-Term Debt Issued	78.36	195.65	250	-	-
Long-Term Debt Repaid	-43.56	-284.27	-315.9	-20.38	-20.35
Net Long-Term Debt Issued (Repaid)	34.8	-88.62	-65.9	-20.38	-20.35
Repurchase of Common Stock	-140.11	-103.06	-70.94	-5.24	-16.17
Net Common Stock Issued (Repurchased)	-140.11	-103.06	-70.94	-5.24	-16.17
Common Dividends Paid	-34.81	-26.88	-22.53	-16.33	-4.08
Other Financing Activities	-40.37	9.12	-70.58	91.48	109.51
Financing Cash Flow	-180.49	-209.45	-229.95	49.53	68.91
Net Cash Flow	-	-	-	-	-18.25
Free Cash Flow	199.21	216.02	229.6	-55.13	-100.29
Free Cash Flow Growth	-7.78%	-5.92%	-	-	-
FCF Margin	7.99%	9.18%	10.61%	-2.87%	-8.38%
Free Cash Flow Per Share	0.90	0.91	0.90	-0.21	-0.38
Levered Free Cash Flow	218.59	111.18	139.54	-100.83	-120.03
Unlevered Free Cash Flow	194.07	224.35	232.85	-50.23	-78.88

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.