Ameresco, Inc. (AMRC)

Ameresco 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	63	56.76	62.47	94.93	70.46	54.05
Depreciation & Amortization	103.33	89.54	66.17	54.42	46.7	42.13
Other Amortization	5.81	5.15	4.2	4.21	2.85	2.69
Loss (Gain) From Sale of Assets	-39.82	-38.01	-	-	-	-
Asset Writedown & Restructuring Costs	12.82	12.82	3.93	0.94	1.9	2.7
Loss (Gain) From Sale of Investments	-	-	-	-	-0.58	-
Loss (Gain) on Equity Investments	-0.75	-0.79	-1.76	-1.65	0.12	0.23
Stock-Based Compensation	14.1	14.13	10.32	15.05	8.72	1.93
Provision & Write-off of Bad Debts	0.24	1.34	0.36	-0.38	0.19	0.28
Other Operating Activities	-31.87	-29.96	-30.46	8.82	5.36	5.26
Change in Accounts Receivable	-159.6	-56.26	43.77	-264.44	-142.03	-17.82
Change in Inventory	-0.81	2.08	0.58	-5.41	-0.23	0.66
Change in Accounts Payable	147.98	143.78	53.24	36.16	83.47	29.05
Change in Unearned Revenue	10.4	50.74	26.2	0.45	-0.69	8.04
Change in Income Taxes	1.73	3.68	1.31	-1.61	4.39	-4.29
Change in Other Net Operating Assets	-145.64	-137.4	-310.33	-279.77	-252.92	-227.49
Operating Cash Flow	-19.09	117.6	-69.99	-338.29	-172.3	-102.58
Capital Expenditures	-380.11	-438.35	-551.77	-327.9	-183.78	-182.76
Cash Acquisitions	-4.6	-	-9.18	-	-14.93	-
Divestitures	54.25	54.25	-	-	-	-
Sale (Purchase) of Real Estate	-4.27	-4.27	-	-	-	-
Investment in Securities	-25.58	1.33	-5.43	-	-7.33	-0.13
Other Investing Activities	70.79	0.4	-0.57	-0.46	0.77	1.87
Investing Cash Flow	-289.53	-386.64	-566.94	-328.36	-205.26	-181.02
Long-Term Debt Issued	-	908.31	997.84	844.74	345.21	367.98
Long-Term Debt Repaid	-	-618.26	-346.06	-161.86	-106.27	-73.63
Net Debt Issued (Repaid)	329.15	290.05	651.78	682.88	238.94	294.35
Issuance of Common Stock	2.32	2.76	4.46	5.96	127.01	9.88
Repurchase of Common Stock	-	-	-	-	-	-0.01
Other Financing Activities	-11.61	21.14	-15.43	41.39	-0.49	0.95
Financing Cash Flow	319.86	313.94	640.8	730.23	365.46	305.17
Foreign Exchange Rate Adjustments	-0.04	-0.2	-0.08	-0.75	0.31	0
Net Cash Flow	11.21	44.7	3.79	62.83	-11.78	21.57
Free Cash Flow	-399.2	-320.75	-621.76	-666.19	-356.07	-285.34
Free Cash Flow Margin	-21.19%	-18.12%	-45.23%	-36.52%	-29.29%	-27.64%
Free Cash Flow Per Share	-7.51	-6.04	-11.68	-12.50	-6.81	-5.82
Cash Interest Paid	78.52	80.25	32.95	18.78	18.78	20.14
Cash Income Tax Paid	6.05	3.83	7.28	2.67	2.67	1.47
Levered Free Cash Flow	-304.09	-300.42	-516.26	-401.14	-158.5	-88.5
Unlevered Free Cash Flow	-259.4	-263.09	-494.87	-387.27	-149.91	-78.93
Change in Working Capital	-145.95	6.62	-185.22	-514.62	-308.01	-211.85

Updated Nov 3, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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