Excelerate Energy Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	41	32.88	30.41	13.32	41.19	32.89
Depreciation & Amortization	113.94	102.8	130.76	130.51	129.83	117.92
Other Amortization	7.02	3.39	6.38	2.66	1.39	1.83
Loss (Gain) on Sale of Assets	0.04	-	-	-	-	-
Loss (Gain) on Equity Investments	-0.73	-0.45	3.84	2.25	-3.26	-3.09
Restructuring Activities	-	-	-	1.57	-	-
Stock-Based Compensation	10.59	7.23	3.64	0.96	-	-
Change in Accounts Receivable	8.68	-21.15	-20.99	197.9	-247.17	-2.45
Change in Inventory	-	-	-	-	-82.67	-17.11
Change in Accounts Payable	79.39	-25.29	-61.59	-254.88	341.34	7.32
Change in Income Taxes	-3.43	-3.43	-5.89	-	-	-
Change in Unearned Revenue	-0.94	31.02	-117.64	135.15	-2.33	2.05
Change in Other Net Operating Assets	16.83	-6.5	168.85	-92.9	-35.74	-30.79
Other Operating Activities	134.06	123.93	94.11	88.54	-0.97	0.41
Operating Cash Flow	406.44	244.44	231.89	225.09	141.61	108.96
Operating Cash Flow Growth	75.62%	5.41%	3.02%	58.95%	29.96%	-28.88%
Capital Expenditures	-192.92	-113.26	-312.74	-119.27	-36.09	-41.26
Sale of Property, Plant & Equipment	-	-	4.1	-	-	-
Investing Cash Flow	-1,241	-113.26	-308.63	-119.27	-36.09	-41.26
Short-Term Debt Issued	-	-	-	140	-	-
Long-Term Debt Issued	-	-	250	654	118.31	62.75
Total Debt Issued	800	-	250	794	118.31	62.75
Short-Term Debt Repaid	-	-	-	-140	-	-
Long-Term Debt Repaid	-	-74.21	-115.59	-722.13	-163.06	-92.6
Total Debt Repaid	-224.09	-74.21	-115.59	-862.13	-163.06	-92.6
Net Debt Issued (Repaid)	575.91	-74.21	134.41	-68.13	-44.75	-29.85
Issuance of Common Stock	202.06	0.22	-	412.15	-	6
Repurchase of Common Stock	-23.96	-50.4	-0.05	-	-	-
Common Dividends Paid	-7.24	-3.36	-2.63	-1.31	-	-7.59
Other Financing Activities	-56.91	-21.28	-20.38	-1.52	-79.35	-
Financing Cash Flow	689.86	-149.02	111.36	341.18	-124.1	-31.44
Foreign Exchange Rate Adjustments	0.02	-0.12	-0.12	-	-	-
Net Cash Flow	-144.7	-17.96	34.49	447.01	-18.58	36.27
Free Cash Flow	213.52	131.18	-80.85	105.82	105.52	67.71
Free Cash Flow Growth	23.13%	-	-	0.29%	55.85%	-35.97%
Free Cash Flow Margin	18.01%	15.41%	-6.98%	4.28%	11.88%	15.72%
Free Cash Flow Per Share	7.37	5.08	-0.75	4.03	-	-
Cash Interest Paid	49.3	58.12	60.78	55.44	80.5	88.17
Cash Income Tax Paid	22.04	24.39	26.16	36.96	16.81	14.33
Levered Free Cash Flow	76.6	29.76	-98.62	93.02	142.53	91.15
Unlevered Free Cash Flow	120.33	64.5	-63.13	127.56	191.64	145.22
Change in Working Capital	100.52	-25.34	-37.26	-14.72	-26.58	-40.99

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

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