Excelerate Energy 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	39.2	32.88	30.41	13.32	41.19
Depreciation & Amortization	129.49	102.8	130.76	130.51	129.83
Other Amortization	7.35	3.39	6.38	2.66	1.39
Loss (Gain) on Equity Investments	0.99	-0.45	3.84	2.25	-3.26
Restructuring Activities	-	-	-	1.57	-
Stock-Based Compensation	12.01	7.23	3.64	0.96	-
Change in Accounts Receivable	82.95	-21.15	-20.99	197.9	-247.17
Change in Inventory	-	-	-	-	-82.67
Change in Accounts Payable	68.21	-25.09	-54.08	-254.88	341.34
Change in Income Taxes	-7.83	-3.43	-5.89	-	-
Change in Unearned Revenue	-5.75	31.02	-117.64	135.15	-2.33
Change in Other Net Operating Assets	3.79	-6.69	161.34	-92.9	-35.74
Other Operating Activities	130.82	123.93	94.11	88.54	-0.97
Operating Cash Flow	461.21	244.44	231.89	225.09	141.61
Operating Cash Flow Growth	88.68%	5.41%	3.02%	58.95%	29.96%
Capital Expenditures	-162.99	-113.26	-312.74	-119.27	-36.09
Sale of Property, Plant & Equipment	-	-	4.1	-	-
Cash Acquisitions	-1,019	-	-	-	-
Investing Cash Flow	-1,182	-113.26	-308.63	-119.27	-36.09
Short-Term Debt Issued	-	-	-	140	-
Long-Term Debt Issued	800	-	250	654	118.31
Total Debt Issued	800	-	250	794	118.31
Short-Term Debt Repaid	-	-	-	-140	-
Long-Term Debt Repaid	-217.52	-74.21	-115.59	-722.13	-163.06
Total Debt Repaid	-217.52	-74.21	-115.59	-862.13	-163.06
Net Debt Issued (Repaid)	582.48	-74.21	134.41	-68.13	-44.75
Issuance of Common Stock	201.83	-	-	412.15	-
Repurchase of Common Stock	-1.35	-50.4	-0.05	-	-
Common Dividends Paid	-8.51	-3.36	-2.63	-1.31	-
Other Financing Activities	-51.3	-21.06	-20.38	-1.52	-79.35
Financing Cash Flow	723.14	-149.02	111.36	341.18	-124.1
Foreign Exchange Rate Adjustments	0.09	-0.12	-0.12	-	-
Net Cash Flow	2.02	-17.96	34.49	447.01	-18.58
Free Cash Flow	298.23	131.18	-80.85	105.82	105.52
Free Cash Flow Growth	127.34%	-	-	0.29%	55.85%
Free Cash Flow Margin	24.28%	15.41%	-6.98%	4.28%	11.88%
Free Cash Flow Per Share	9.74	5.08	-0.75	4.03	-
Cash Interest Paid	79.74	58.12	60.78	55.44	80.5
Cash Income Tax Paid	22.37	24.39	26.16	36.96	16.81
Levered Free Cash Flow	208.11	29.78	-98.62	93.02	142.53
Unlevered Free Cash Flow	259.6	64.52	-63.13	127.56	191.64
Change in Working Capital	141.36	-25.34	-37.26	-14.72	-26.58

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

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