Freehold Royalties Cash Flow Statement

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	128.82	149.45	131.9	209.19	72.08	-13.93
Depreciation & Amortization	108.54	101.41	96.62	102.61	88.03	79.39
Stock-Based Compensation	3.13	2.93	3.05	8.34	7.07	1.07
Other Adjustments	4.34	-22.81	8.09	-3.64	22.47	6.36
Changes in Other Operating Activities	-5.35	-7.64	-22.75	10.85	-27.63	-7.12
Operating Cash Flow	239.48	223.33	216.92	327.35	162.02	65.77
Operating Cash Flow Growth	1.94%	2.96%	-33.73%	102.04%	146.36%	-37.84%
Sale of Property, Plant & Equipment	2.29	-	-	-	-	-2.34
Payments for Business Acquisitions	-311.85	-411.72	-10.65	-190.79	-377	-7.06
Other Investing Activities	0.44	11.35	-10.53	-0.39	0.39	-0.16
Investing Cash Flow	-309.11	-400.37	-21.18	-191.18	-376.61	-9.55
Issuance of Common Stock	-	165.48	-	-	223.79	-
Net Common Stock Issued (Repurchased)	-	165.48	-	-	223.79	-
Common Dividends Paid	-173.5	-162.75	-162.73	-141.6	-61.97	-39.16
Other Financing Activities	79.34	174.3	-33.51	3.52	53.96	-17.21
Financing Cash Flow	69.63	177.03	-196.24	-138.08	215.78	-56.36
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-	-	-0.02	0.25	-0.03	-0.03
Net Cash Flow	-	-	-0.51	-1.91	1.19	-0.15
Free Cash Flow	239.48	223.33	216.92	327.35	162.02	65.77
Free Cash Flow Growth	7.23%	2.96%	-33.73%	102.04%	146.36%	-37.84%
FCF Margin	74.71%	72.16%	68.96%	83.29%	77.52%	73.11%
Free Cash Flow Per Share	1484.24	1.47	1.43	2.17	1.18	0.55
Levered Free Cash Flow	232.01	243.21	205.78	322.66	132.48	58.34
Unlevered Free Cash Flow	245.98	255.25	213.64	327.41	135.13	61.09

Updated Sep 30, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.