Mullen Group 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	91.11	112.26	136.72	158.62	72.44
Depreciation & Amortization	146.37	130.9	115.89	112.51	113.96
Stock-Based Compensation	1.27	0.91	1.05	0.74	0.38
Other Adjustments	71.74	95.71	75.4	59.42	51.36
Changes in Income Taxes Payable	-45.02	-45.4	-66.23	-39.48	-34.56
Operating Cash Flow	305.98	296.12	276.75	262.97	197.97
Operating Cash Flow Growth	3.33%	7.00%	5.24%	32.84%	-11.95%
Capital Expenditures	-95.82	-71.51	-101.6	-81.41	-68.2
Sale of Property, Plant & Equipment	17.88	15.17	12.79	48.6	20.75
Purchases of Intangible Assets	-	-0.05	-	-	-
Proceeds from Sale of Investments	0.07	0.07	1.87	-	-
Payments for Business Acquisitions	-181.62	-59.06	-25.63	-25.57	-207.53
Proceeds from Business Divestments	-	-	-	16.5	-
Other Investing Activities	8.25	3.48	2.68	4.89	-0.61
Investing Cash Flow	-251.24	-111.9	-109.89	-36.99	-255.59
Short-Term Debt Issued	-	-73	50.2	-66.25	89.05
Net Short-Term Debt Issued (Repaid)	-	-73	50.2	-66.25	89.05
Long-Term Debt Issued	390.88	399.26	-	-	-
Long-Term Debt Repaid	-243.68	-219.99	-23.91	-8.53	-0.05
Net Long-Term Debt Issued (Repaid)	147.2	179.27	-23.91	-8.53	-0.05
Issuance of Common Stock	2.28	0.93	-	-	-
Repurchase of Common Stock	-11.46	-6.49	-72.05	-22.92	-44.33
Net Common Stock Issued (Repurchased)	-9.18	-5.56	-72.05	-22.92	-44.33
Common Dividends Paid	-73.96	-66.76	-64.77	-61.56	-45.13
Other Financing Activities	-108	-85.56	-63.51	-55.88	-45.82
Financing Cash Flow	-43.95	-51.61	-174.05	-215.14	-46.29
Effect of Exchange Rate Changes on Cash and Cash Equivalents	7.56	-8.62	0.73	-2.08	-1.43
Net Cash Flow	10.8	132.61	-7.19	10.84	-103.91
Free Cash Flow	210.16	224.6	175.15	181.56	129.76
Free Cash Flow Growth	-6.43%	28.24%	-3.53%	39.92%	-18.83%
FCF Margin	9.85%	11.29%	8.78%	9.08%	8.78%
Free Cash Flow Per Share	2.18	2.31	1.77	1.77	1.35
Levered Free Cash Flow	243.84	232.51	111.07	75.47	172.63
Unlevered Free Cash Flow	134.24	160.95	106.54	155.13	103.57

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