GSK Cash Flow Statement

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

Millions GBP. 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	5,716	2,575	4,928	14,956	4,385
Depreciation & Amortization	3,778	2,340	2,091	2,147	2,122
Other Amortization	-	211	203	-	-
Loss (Gain) From Sale of Assets	-	-159	-12	-221	-586
Asset Writedown & Restructuring Costs	-	369	360	198	498
Loss (Gain) From Sale of Investments	-	-16	-1	-1	28
Loss (Gain) on Equity Investments	-1	3	5	2	-33
Stock-Based Compensation	-	344	307	346	343
Other Operating Activities	-315	631	-257	-9,435	-804
Change in Accounts Receivable	-	298	-794	-158	-780
Change in Inventory	-	-294	-424	-269	51
Change in Accounts Payable	-	-179	-15	494	229
Change in Other Net Operating Assets	-1,437	431	377	-1,425	824
Operating Cash Flow	7,741	6,554	6,768	7,403	7,952
Operating Cash Flow Growth	18.11%	-3.16%	-8.58%	-6.90%	-5.79%
Capital Expenditures	-1,348	-1,399	-1,314	-1,143	-950
Sale of Property, Plant & Equipment	24	65	28	146	132
Cash Acquisitions	-1,709	-824	-1,468	-3,187	-114
Divestitures	-27	-18	49	-43	-17
Sale (Purchase) of Intangibles	-1,522	-1,452	-1,018	-919	-1,063
Investment in Securities	108	2,231	1,782	95	334
Other Investing Activities	241	168	346	-3,721	-99
Investing Cash Flow	-4,233	-1,229	-1,595	-8,772	-1,777
Short-Term Debt Issued	1,215	266	-	1,021	301
Long-Term Debt Issued	1,979	1,075	223	1,025	-
Total Debt Issued	3,194	1,341	223	2,046	301
Short-Term Debt Repaid	-288	-892	-333	-	-2,304
Long-Term Debt Repaid	-1,641	-1,841	-2,457	-6,870	-181
Total Debt Repaid	-1,929	-2,733	-2,790	-6,870	-2,485
Net Debt Issued (Repaid)	1,265	-1,392	-2,567	-4,824	-2,184
Issuance of Common Stock	15	20	10	25	21
Repurchase of Common Stock	-1,377	-	-	-	-
Common Dividends Paid	-2,564	-2,444	-2,247	-3,467	-3,999
Other Financing Activities	-1,024	-910	-837	9,089	-1,427
Financing Cash Flow	-3,685	-4,726	-5,641	823	-7,589
Foreign Exchange Rate Adjustments	-19	-54	-99	152	-29
Net Cash Flow	-196	545	-567	-394	-1,443
Free Cash Flow	6,393	5,155	5,454	6,260	7,002
Free Cash Flow Growth	24.02%	-5.48%	-12.88%	-10.60%	-6.04%
Free Cash Flow Margin	19.57%	16.43%	17.98%	21.35%	28.35%
Free Cash Flow Per Share	1.55	1.25	1.33	1.53	1.73
Cash Interest Paid	679	632	766	848	772
Cash Income Tax Paid	1,202	1,307	1,328	1,310	972
Levered Free Cash Flow	3,963	4,903	3,562	4,949	4,847
Unlevered Free Cash Flow	4,401	5,287	4,006	5,461	5,323
Change in Working Capital	-1,437	256	-856	-1,358	324

Updated Feb 4, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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