Flagship Communities Real Estate Investment Trust (TSX:MHC.UN)

TSX:MHC.UN Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	97.78	115.67	103.52	65.1	42.68	60.01
Depreciation & Amortization	0.65	0.53	0.49	0.4	0.29	0.17
Gain (Loss) on Sale of Assets	-0.01	-0.05	-	-0.03	0.01	-0.01
Asset Writedown	-63.07	-83.27	-76.57	-43.97	-24.72	-47.44
Stock-Based Compensation	2.1	1.66	1.17	0.71	0.43	0.27
Change in Accounts Receivable	0.38	0.38	-1.02	-0.08	-0.12	-0.12
Change in Accounts Payable	-1.26	-1.26	-0.25	1.77	-0.65	0.38
Change in Other Net Operating Assets	-1.34	-0.95	3.62	-0.79	0.16	1.46
Other Operating Activities	30.04	24.92	21.71	16.44	12.96	10.09
Operating Cash Flow	65.28	57.64	52.67	39.55	31.03	24.82
Operating Cash Flow Growth	13.86%	9.43%	33.16%	27.45%	25.02%	61.48%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Acquisition of Real Estate Assets	-109.84	-106.86	-138.85	-54.83	-77.31	-165.67
Sale of Real Estate Assets	2.17	1.8	2.53	3.08	1.84	1.47
Net Sale / Acq. of Real Estate Assets	-107.66	-105.07	-136.32	-51.75	-75.47	-164.21
Other Investing Activities	1.83	0.78	0.01	0.15	0.02	-2.42
Investing Cash Flow	-105.84	-104.29	-136.31	-51.6	-75.45	-166.63

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Short-Term Debt Issued	-	-	-	-	10	-
Long-Term Debt Issued	-	203.36	118.89	8	59.46	41.4
Total Debt Issued	150.98	203.36	118.89	8	69.46	41.4
Short-Term Debt Repaid	-	-3	-7	-	-	-
Long-Term Debt Repaid	-	-110.92	-49.04	-0.73	-0.59	-0.48
Total Debt Repaid	-70	-113.92	-56.04	-0.73	-0.59	-0.48
Net Debt Issued (Repaid)	80.98	89.44	62.86	7.27	68.87	40.92
Issuance of Common Stock	-	-	57.08	21.86	-	127.49
Repurchase of Common Stock	-	-	-0.08	-0.08	-0.05	-
Common Dividends Paid	-12.64	-12.15	-10.78	-8.53	-7.6	-4.97
Other Financing Activities	-31.2	-28.16	-25.99	-17.58	-15.32	-17.69

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Cash Flow	-3.41	2.48	-0.55	-9.11	1.48	3.95

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Levered Free Cash Flow	25.31	24.52	20.58	15.23	11.01	10.06
Unlevered Free Cash Flow	43.87	40.07	34.49	26.28	19.83	16.88

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	23.23	23.23	22.2	17.26	11.03	8.12
Change in Working Capital	-2.22	-1.82	2.35	0.9	-0.62	1.73

Data Source: S&P Global Market Intelligence Last updated: Sep 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Nov 14, 2026

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