TSX:TWM 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	-113.3	-18.8	-399.2	18.9	73.9
Depreciation & Amortization	63.6	90.5	96.8	84.4	81.8
Stock-Based Compensation	3.8	0.7	6.3	4.3	0.1
Other Adjustments	34.4	28.1	396.3	115.5	32.2
Change in Receivables	19.3	-11.3	-	-	-
Changes in Inventories	35.5	-11.8	-	-	-
Changes in Accounts Payable	25.9	-117.1	-	-	-
Changes in Other Operating Activities	56.7	-127.8	37.3	19.8	-61.3
Operating Cash Flow	57.2	-33.5	137.5	242.9	126.7
Operating Cash Flow Growth	-	-	-43.39%	91.71%	-38.37%
Capital Expenditures	-22.6	-44.9	-292.6	-349.3	-116.8
Sale of Property, Plant & Equipment	37.9	353.2	336.7	14.7	139.2
Payments for Business Acquisitions	-1.2	-	-	-10.5	-2.2
Other Investing Activities	-18.1	-55.4	-29.8	65.5	-0.4
Investing Cash Flow	5.7	293.4	14.3	-279.6	19.8
Long-Term Debt Issued	-	95.4	25	191.2	-170
Long-Term Debt Repaid	-6	-266.3	-48.8	-125	-
Net Long-Term Debt Issued (Repaid)	-6	-170.9	-23.8	66.2	-170
Issuance of Common Stock	-	1	-0.1	87	-0.4
Net Common Stock Issued (Repurchased)	-	1	-0.1	87	-0.4
Common Dividends Paid	-	-	-17	-14.5	-13.6
Other Financing Activities	-52.2	-85.9	-127.8	-100.8	43.4
Financing Cash Flow	-61.9	-259.9	-168.7	37.9	-140.6
Net Cash Flow	1	0	-16.9	1.2	5.9
Free Cash Flow	34.6	-78.4	-155.1	-106.4	9.9
Free Cash Flow Growth	-	-	-	-	-92.64%
FCF Margin	2.62%	-4.78%	-7.02%	-3.70%	0.58%
Free Cash Flow Per Share	1.60	-3.65	-7.29	-5.59	0.48
Levered Free Cash Flow	40.9	-408.6	-568.2	-170.4	-194.8
Unlevered Free Cash Flow	108.45	-143.27	-164.73	-176.2	-55.19

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