CES Energy Solutions Cash Flow Statement

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	210.88	204.72	191.11	154.64	95.22	49.88
Depreciation & Amortization	107.33	104.26	85.68	72.85	74.48	67.98
Stock-Based Compensation	9.22	9.33	11.71	9.73	6.34	7.17
Other Adjustments	-18.45	6.09	4.51	14.43	18.98	-7.78
Changes in Other Operating Activities	-14.61	-39.03	11.66	50.13	-197.76	-191.66
Operating Cash Flow	294.37	285.37	304.66	301.78	-2.74	-74.41
Operating Cash Flow Growth	5.73%	-6.33%	0.96%	-	-	-
Capital Expenditures	-81.7	-86.17	-88.64	-72.18	-52.39	-25.89
Sale of Property, Plant & Equipment	8.58	10.46	7.53	11.16	8.57	17.91
Purchases of Intangible Assets	-13.43	-12.94	-4.47	-1.72	-0.78	-1.54
Payments for Business Acquisitions	-10.77	-13.64	-10.21	-1.52	-9.56	-
Other Investing Activities	-2.9	-2.6	0.57	-7.58	7.37	-3.25
Investing Cash Flow	-100.21	-104.88	-95.22	-71.83	-46.79	-12.76
Long-Term Debt Issued	78.36	78.36	195.65	250	-	-
Long-Term Debt Repaid	-44.52	-43.56	-284.27	-315.9	-20.38	-20.35
Net Long-Term Debt Issued (Repaid)	33.85	34.8	-88.62	-65.9	-20.38	-20.35
Repurchase of Common Stock	-135.51	-140.11	-103.06	-70.94	-5.24	-16.17
Net Common Stock Issued (Repurchased)	-135.51	-140.11	-103.06	-70.94	-5.24	-16.17
Common Dividends Paid	-37.02	-34.81	-26.88	-22.53	-16.33	-4.08
Other Financing Activities	-55.48	-40.37	9.12	-70.58	91.48	109.51
Financing Cash Flow	-194.16	-180.49	-209.45	-229.95	49.53	68.91
Net Cash Flow	-	0	0	0	0	-18.25
Free Cash Flow	212.67	199.21	216.02	229.6	-55.13	-100.29
Free Cash Flow Growth	6.76%	-7.78%	-5.92%	-	-	-
FCF Margin	8.36%	7.99%	9.18%	10.61%	-2.87%	-8.38%
Free Cash Flow Per Share	0.97	0.90	0.91	0.90	-0.21	-0.38
Levered Free Cash Flow	255.75	218.59	111.18	139.54	-100.83	-120.03
Unlevered Free Cash Flow	212.06	194.07	224.35	232.85	-50.23	-78.88

Updated May 7, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.