Pollard Banknote 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	34.65	35.2	31.42	19.28	19.7
Depreciation & Amortization	49.19	44.24	44.99	40.98	39.55
Other Adjustments	-28.47	-16.32	-22.28	0.31	12.62
Change in Receivables	-0.81	-1.9	-	-	-
Changes in Inventories	-3.82	0.72	-	-	-
Changes in Accounts Payable	15.24	7.08	-	-	-
Changes in Unearned Revenue	-1.7	0.62	0.46	0.42	-
Changes in Other Operating Activities	-3.23	-6.11	4.85	-15.8	9.27
Operating Cash Flow	83.64	73.9	64.6	54.2	56.54
Operating Cash Flow Growth	13.18%	14.40%	19.20%	-4.14%	-5.22%
Capital Expenditures	-26.68	-25.55	-14.58	-14.32	-22.23
Purchases of Intangible Assets	-32.17	-28.44	-23.52	-18.9	-12.6
Payments for Business Acquisitions	-14.75	-23.21	-13.99	-15.14	-38.37
Other Investing Activities	64.19	52.6	39.07	22.35	12.61
Investing Cash Flow	-73.6	-77.19	-52.09	-48.36	-60.59
Net Long-Term Debt Issued (Repaid)	8.97	26.56	-0.88	3.17	-15.35
Issuance of Common Stock	0.13	1.04	0.69	-	32.76
Net Common Stock Issued (Repurchased)	0.13	1.04	0.69	-	32.76
Common Dividends Paid	-5.41	-5.14	-4.31	-4.31	-4.26
Other Financing Activities	-6.51	-5.65	-6.44	-6.6	-6.79
Financing Cash Flow	-2.82	16.81	-10.94	-7.73	6.37
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-1.13	0.42	0.25	-0.14	-0.69
Net Cash Flow	6.1	13.95	1.82	-2.04	1.63
Free Cash Flow	56.97	48.36	50.02	39.88	34.31
Free Cash Flow Growth	17.80%	-3.32%	25.43%	16.23%	-26.52%
FCF Margin	9.56%	8.68%	9.61%	8.24%	7.47%
Free Cash Flow Per Share	2.07	1.76	1.82	1.46	1.27
Levered Free Cash Flow	72.63	82.76	66.26	33.73	30.95
Unlevered Free Cash Flow	73.72	68.13	74.23	40.95	50.95

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