Elbit Systems 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	535.62	321.86	215.86	275.47	274.66
Depreciation & Amortization	171.43	158.39	164.8	161.29	153.09
Stock-Based Compensation	26.39	15.76	12.14	10.46	5.31
Other Adjustments	-26.11	11.47	1.8	-16.43	17.61
Change in Receivables	-659.95	-473.93	-96.59	97.15	-430.3
Changes in Inventories	-357.93	-480.31	-351.59	-305.06	-336.22
Changes in Accounts Payable	463.91	65.66	175.45	-123.29	105.2
Changes in Unearned Revenue	651.33	955.86	16.19	192.16	617.74
Changes in Other Operating Activities	-26.33	-40.16	-24.33	-51.69	9.83
Operating Cash Flow	778.38	534.61	113.71	240.07	416.93
Operating Cash Flow Growth	45.60%	370.16%	-52.63%	-42.42%	49.53%
Capital Expenditures	-225.57	-215.05	-187.04	-205.11	-188.62
Sale of Property, Plant & Equipment	1.13	4.11	1.47	24.88	25.75
Purchases of Investments	-2.29	-3.6	-5.42	-4.47	-1.83
Proceeds from Sale of Investments	-164.39	28.34	-9.23	14.4	22.56
Payments for Business Acquisitions	-	-	-10.38	-63.18	-445.57
Proceeds from Business Divestments	0.4	7.38	-	81.49	-
Other Investing Activities	19.05	10.96	22.32	18.41	30.32
Investing Cash Flow	-390.72	-178.83	-210.6	-151.98	-587.72
Short-Term Debt Issued	-400.32	-125.74	461.1	99	-285.32
Net Short-Term Debt Issued (Repaid)	-400.32	-125.74	461.1	99	-285.32
Long-Term Debt Issued	-	-	20	39.55	1,052
Long-Term Debt Repaid	-78.92	-73.18	-308.67	-187.73	-536.06
Net Long-Term Debt Issued (Repaid)	-78.92	-73.18	-288.67	-148.19	515.46
Issuance of Common Stock	573.06	0.03	0.03	0.02	0.02
Net Common Stock Issued (Repurchased)	573.06	0.03	0.03	0.02	0.02
Common Dividends Paid	-111.69	-88.96	-89.25	-86.81	-79.18
Financing Cash Flow	-17.87	-287.85	83.21	-135.97	150.99
Net Cash Flow	369.79	67.92	-13.68	-47.89	-19.8
Free Cash Flow	552.81	319.56	-73.33	34.96	228.31
Free Cash Flow Growth	72.99%	-	-	-84.69%	55.71%
FCF Margin	6.96%	4.68%	-1.23%	0.63%	4.33%
Free Cash Flow Per Share	11.78	7.15	-1.64	-	-
Levered Free Cash Flow	731.96	566.61	181.03	-105.43	865.51
Unlevered Free Cash Flow	1,282	877.55	125.24	5.48	636.13

Updated Mar 17, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q