Armada Hoffler Properties, Inc. (AHH)

Armada Hoffler Properties Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	26.66	35.65	8.29	74.75	21.89	29.15
Depreciation & Amortization	88.38	84.66	91.28	69.53	63.91	49.47
Other Amortization	3.17	4.66	3.96	3.48	4.9	10.27
Gain (Loss) on Sale of Assets	-21.31	-21.31	-0.74	-53.47	-19.04	-6.39
Gain (Loss) on Sale of Investments	-	-	-	-	-2.18	1.13
Asset Writedown	0.35	1.49	0.1	0.42	21.38	0.67
Stock-Based Compensation	7.14	5.1	3.68	3.27	2.23	2.38
Income (Loss) on Equity Investments	1.95	-0.25	-	-	-	-
Change in Accounts Receivable	64.42	42.01	-73.14	-65.49	16.84	-18.21
Change in Other Net Operating Assets	-89.46	-37.08	48.79	62.57	-24.45	14.43
Other Operating Activities	-25.74	-5.09	6.51	20.65	5.55	4.18
Operating Cash Flow	58.3	112.02	93.31	116.86	91.18	91.18
Operating Cash Flow Growth	-45.12%	20.05%	-20.15%	28.16%	0.01%	34.62%
Acquisition of Real Estate Assets	-57.78	-60.19	-91.84	-213.01	-137.72	-108.71
Sale of Real Estate Assets	58.59	58.59	0.25	252.27	85.32	96.46
Net Sale / Acq. of Real Estate Assets	0.81	-1.59	-91.59	39.26	-52.39	-12.25
Investment in Marketable & Equity Securities	-9.19	-15.88	-70.05	-62.87	-11.61	-1.08
Other Investing Activities	-23.86	-4.3	-71.57	-1.99	10.96	-9.47
Investing Cash Flow	-38.65	-26.7	-237.27	-33.24	-57.63	-26.23
Long-Term Debt Issued	-	269.47	402.57	678.57	161.81	176.62
Long-Term Debt Repaid	-	-257.58	-180.87	-723.74	-187.76	-299.32
Net Debt Issued (Repaid)	109.7	11.89	221.7	-45.17	-25.95	-122.7
Issuance of Common Stock	-	129.42	-	65.16	51.68	19.65
Repurchase of Common Stock	-1.86	-1.57	-13.74	-0.77	-0.55	-0.57
Preferred Stock Issued	-	-	-	-	-	101.46
Common & Preferred Dividends Paid	-90.76	-83.89	-80.4	-72.58	-58.71	-47.6
Total Dividends Paid	-90.76	-83.89	-80.4	-72.58	-58.71	-47.6
Other Financing Activities	-32.65	-99.12	-5.31	-18.84	-10	-8.34
Net Cash Flow	4.1	42.06	-21.7	11.42	-9.99	6.85
Cash Interest Paid	71.63	71.63	44.92	29.88	29.24	28.55
Cash Income Tax Paid	1.15	1.15	-0.03	0	-0	-0.17
Levered Free Cash Flow	114.81	118.23	91.86	58.53	87.14	82.73
Unlevered Free Cash Flow	165.11	167.58	127.99	83.33	108.33	102.13
Change in Working Capital	-25.04	4.93	-24.35	-2.92	-7.61	-3.79

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

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