TSX:MRG.UN 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	111.54	99.4	185.28	239.56	244.97
Other Adjustments	-46.68	-33.17	3.39	1.8	0.28
Change in Receivables	1.56	-2.49	-	-	-
Changes in Accounts Payable	-0.75	5.36	-	-	-
Changes in Other Operating Activities	-2.31	2.74	-0.85	-0.93	-1.72
Operating Cash Flow	87.76	86.14	88.97	75.17	63.7
Operating Cash Flow Growth	1.88%	-3.17%	18.35%	18.02%	27.07%
Capital Expenditures	-71.3	-48.04	-164.71	-221.1	-30.01
Sale of Property, Plant & Equipment	-	-	-	250.86	-
Other Investing Activities	-	-	-	-	-1.29
Investing Cash Flow	-71.3	-48.04	-209.01	-11.06	-31.3
Short-Term Debt Issued	144.1	33.25	258.66	74.79	63.94
Short-Term Debt Repaid	-66	-120.9	-180.64	-83.66	-140.36
Net Short-Term Debt Issued (Repaid)	78.1	-87.65	78.02	-8.88	-76.42
Long-Term Debt Issued	245.54	318.97	240.9	212.63	194.21
Long-Term Debt Repaid	-217.7	-172.8	-224.77	-175.88	-29
Net Long-Term Debt Issued (Repaid)	27.84	146.17	16.13	36.75	165.21
Repurchase of Common Stock	-24.34	-26.29	-23.53	-	-
Net Common Stock Issued (Repurchased)	-24.34	-26.29	-23.53	-	-
Common Dividends Paid	-26.32	-26.81	-26.95	-26.67	-26.56
Other Financing Activities	-6.35	-11.3	-88.5	72.69	-90.3
Financing Cash Flow	49.14	-6.74	120.84	-78.88	-33.05
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-2.23	2.08	2.4	2.84	-0.09
Net Cash Flow	65.61	31.36	0.79	-14.77	-0.66
Free Cash Flow	16.47	38.1	-75.74	-145.92	33.68
Free Cash Flow Growth	-56.79%	-	-	-	-23.75%
FCF Margin	4.64%	11.07%	-22.84%	-52.40%	13.72%
Free Cash Flow Per Share	-	0.67	-1.29	-2.59	0.56
Levered Free Cash Flow	134.55	120.44	104.93	25.13	299.14
Unlevered Free Cash Flow	77.39	100.53	-13.91	-120.1	59.08

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