Sandoz Group AG Cash Flow Statement

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

Millions USD. 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	914	1	77	848	908
Depreciation & Amortization	524	492	468	458	489
Loss (Gain) From Sale of Assets	-22	-56	-10	-24	-34
Asset Writedown & Restructuring Costs	21	10	57	34	36
Stock-Based Compensation	102	88	25	-	-
Other Operating Activities	-808	486	408	-57	-377
Change in Accounts Receivable	-103	256	-393	-184	-52
Change in Inventory	227	-277	-578	-272	177
Change in Accounts Payable	28	25	508	131	93
Change in Other Net Operating Assets	711	-369	-200	289	114
Operating Cash Flow	1,594	656	362	1,223	1,354
Operating Cash Flow Growth	142.99%	81.22%	-70.40%	-9.68%	23.32%
Capital Expenditures	-493	-404	-364	-278	-313
Sale of Property, Plant & Equipment	7	26	34	9	28
Cash Acquisitions	-260	-188	-16	-32	-374
Divestitures	-	6	-2	-7	12
Sale (Purchase) of Intangibles	-265	-176	-256	-117	-41
Investment in Securities	-2	-3	-3	-5	-1
Other Investing Activities	33	-1	-7	-	-2
Investing Cash Flow	-980	-740	-614	-430	-691
Short-Term Debt Issued	-	-	121	43	23
Long-Term Debt Issued	991	748	6,449	16	16
Total Debt Issued	991	748	6,570	59	39
Short-Term Debt Repaid	-38	-110	-	-	-
Long-Term Debt Repaid	-831	-138	-2,669	-37	-43
Total Debt Repaid	-869	-248	-2,669	-37	-43
Net Debt Issued (Repaid)	122	500	3,901	22	-4
Repurchase of Common Stock	-	-12	-	-	-
Common Dividends Paid	-315	-215	-	-	-
Other Financing Activities	-4	-31	-2,659	-791	-653
Financing Cash Flow	-197	242	1,242	-769	-657
Foreign Exchange Rate Adjustments	131	-76	45	10	-5
Net Cash Flow	548	82	1,035	34	1
Free Cash Flow	1,101	252	-2	945	1,041
Free Cash Flow Growth	336.91%	-	-	-9.22%	19.38%
Free Cash Flow Margin	9.87%	2.43%	-0.02%	10.15%	10.76%
Free Cash Flow Per Share	2.52	0.58	-0.01	2.20	-
Cash Interest Paid	186	205	160	80	62
Cash Income Tax Paid	224	265	245	273	485
Levered Free Cash Flow	924.63	623.25	991.13	773.75	664.63
Unlevered Free Cash Flow	1,062	780.13	1,117	829.38	705.25
Change in Working Capital	863	-365	-663	-36	332

Source: S&P Global Market Intelligence. Standard template. Financial Sources.