Thor Explorations Ltd. (TSXV:THX)

Thor Explorations Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	196.21	91.17	10.87	38.79	-2.07
Depreciation & Amortization	45.8	22.73	28.25	31.66	0.21
Stock-Based Compensation	-	-	-	0.45	-
Other Operating Activities	-0.81	12.15	11.79	17.84	1.34
Change in Accounts Receivable	-7.17	3.38	2.83	0.02	-0.04
Change in Inventory	-13.01	-30.58	-25.16	-15.15	-18.51
Change in Accounts Payable	-30.9	-29.71	30.01	14.46	1.27
Change in Unearned Revenue	-4.46	-7.38	5.26	6.58	-
Change in Other Net Operating Assets	-	-	-	-10.27	-0.36
Operating Cash Flow	185.67	61.76	63.84	84.39	-18.17
Operating Cash Flow Growth	200.62%	-3.25%	-24.35%	-	-
Capital Expenditures	-27.59	-12.79	-37.7	-34.01	-35.16
Sale (Purchase) of Intangibles	-0.02	-0.08	-0.14	-0.04	-0.18
Other Investing Activities	-	-	-	3.5	0
Investing Cash Flow	-27.61	-12.87	-37.84	-30.55	-35.33
Long-Term Debt Issued	-	-	-	-	31.18
Long-Term Debt Repaid	-15.83	-42.87	-21.78	-44.75	-2.81
Net Debt Issued (Repaid)	-15.83	-42.87	-21.78	-44.75	28.37
Issuance of Common Stock	0.76	0.14	1.05	0.96	2.04
Common Dividends Paid	-17.18	-	-	-	-
Other Financing Activities	-	-1.97	-4.34	-4.65	-0.58
Financing Cash Flow	-32.25	-44.7	-25.07	-48.43	29.83
Foreign Exchange Rate Adjustments	-0.1	0.01	0.22	0.01	2.77
Net Cash Flow	125.71	4.2	1.15	5.41	-20.91
Free Cash Flow	158.08	48.98	26.14	50.38	-53.33
Free Cash Flow Growth	222.77%	87.36%	-48.12%	-	-
Free Cash Flow Margin	48.57%	25.36%	18.51%	30.50%	-881.52%
Free Cash Flow Per Share	0.24	0.07	0.04	0.08	-0.09
Cash Interest Paid	-	1.97	4.22	4.65	0.07
Levered Free Cash Flow	92.19	39.1	21.8	18.28	-11.62
Unlevered Free Cash Flow	92.48	42.53	26.7	27.42	-11.58
Change in Working Capital	-55.54	-64.28	12.93	-4.36	-17.64

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.