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 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	89.58	91.78	149.45	131.9	209.19	72.08
Depreciation & Amortization	106.06	108.5	101.41	96.62	102.61	88.03
Stock-Based Compensation	10.07	6.92	2.93	3.05	8.34	7.07
Other Adjustments	19.82	27.37	-22.81	8.09	-3.64	22.47
Changes in Other Operating Activities	-6.88	0.8	-7.64	-22.75	10.85	-27.63
Operating Cash Flow	218.66	235.38	223.33	216.92	327.35	162.02
Operating Cash Flow Growth	-6.47%	5.39%	2.96%	-33.73%	102.04%	146.36%
Sale of Property, Plant & Equipment	-	2.29	-	-	-	-
Payments for Business Acquisitions	-50.27	-44.13	-411.72	-10.65	-190.79	-377
Other Investing Activities	-0.01	-0.27	11.35	-10.53	-0.39	0.39
Investing Cash Flow	-50.28	-42.11	-400.37	-21.18	-191.18	-376.61
Issuance of Common Stock	-	-	165.48	-	-	223.79
Net Common Stock Issued (Repurchased)	-	-	165.48	-	-	223.79
Common Dividends Paid	-177.08	-177.08	-162.75	-162.73	-141.6	-61.97
Other Financing Activities	9.66	-16.19	174.3	-33.51	3.52	53.96
Financing Cash Flow	-168.38	-193.27	177.03	-196.24	-138.08	215.78
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-	-	-	-0.02	0.25	-0.03
Net Cash Flow	-	0	0	-0.51	-1.91	1.19
Free Cash Flow	218.66	235.38	223.33	216.92	327.35	162.02
Free Cash Flow Growth	-7.10%	5.39%	2.96%	-33.73%	102.04%	146.36%
FCF Margin	72.83%	75.09%	72.16%	68.96%	83.29%	77.53%
Free Cash Flow Per Share	1.33	1.44	1.47	1.43	2.17	1.18
Levered Free Cash Flow	188.76	201.09	243.21	205.78	322.66	132.48
Unlevered Free Cash Flow	201.72	214.73	255.25	213.64	327.42	135.13

Updated May 12, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.