Modiv Industrial 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	1.41	6.02	-6.61	-3.29	-0.44	-49.14
Depreciation & Amortization	14.71	15.75	14.74	13.92	13.93	16.22
Other Amortization	1	1.19	0.77	2.06	0.61	1.09
Gain (Loss) on Sale of Assets	-0.08	-3.36	1.71	-12.2	-6.14	-4.14
Gain (Loss) on Sale of Investments	-0.96	1.48	-0.8	-0.03	-0.97	0.77
Asset Writedown	4	-	4.39	19.4	3.37	44.84
Stock-Based Compensation	2.17	1.59	11.17	2.4	2.74	0.71
Income (Loss) on Equity Investments	0.11	0.88	-0.05	-0.07	0.06	0.39
Change in Accounts Receivable	0.61	0.07	0.39	0.14	-2.75	0.12
Change in Accounts Payable	-1.55	-0.6	-0.9	-1.39	0.98	-2.7
Change in Other Net Operating Assets	1.49	0.46	-0.06	0.93	-1.35	-0.99
Other Operating Activities	-6.37	-5.24	-8.16	-5.25	-0.33	-1.59
Operating Cash Flow	16.53	18.24	16.58	16.65	9.73	5.58
Operating Cash Flow Growth	-9.18%	10.03%	-0.42%	71.13%	74.42%	17.45%
Acquisition of Real Estate Assets	-0.57	-7.03	-127.53	-131.5	-16.52	-0.67
Sale of Real Estate Assets	2.33	15.02	34.74	70.66	39.54	27.01
Net Sale / Acq. of Real Estate Assets	1.76	7.99	-92.79	-60.84	23.03	26.33
Investment in Marketable & Equity Securities	-	0.65	-	-	-	-
Other Investing Activities	0.12	-0.25	-0.81	-0.23	-1	-0.99
Investing Cash Flow	1.88	8.4	-93.6	-61.06	21.83	24.78
Short-Term Debt Issued	-	-	-	-	-	4.78
Long-Term Debt Issued	-	-	100	150	27.46	35.71
Total Debt Issued	-	-	100	150	27.46	40.48
Short-Term Debt Repaid	-	-	-	-	-	-10.8
Long-Term Debt Repaid	-	-0.28	-16.32	-135.52	-36.57	-45.3
Total Debt Repaid	-0.51	-0.28	-16.32	-135.52	-36.57	-56.1
Net Debt Issued (Repaid)	-0.51	-0.28	83.69	14.48	-9.11	-15.62
Issuance of Common Stock	7.2	7.71	0.83	0.11	4.34	10.91
Repurchase of Common Stock	-	-11.53	-1.13	-4.16	-19.08	-17.58
Preferred Stock Issued	-	-	-	-	47.61	-
Common Dividends Paid	-11.92	-10.44	-8.16	-5.86	-3.47	-5.02
Preferred Dividends Paid	-3.47	-3.69	-3.69	-3.83	-	-
Total Dividends Paid	-15.38	-14.13	-11.84	-9.69	-3.47	-5.02
Other Financing Activities	-0.07	-	-	-6.13	-1.8	-1.61
Net Cash Flow	3.12	8.4	-5.48	-49.8	50.03	1.44
Cash Interest Paid	12.68	13.5	12.01	7.77	8.05	9.12
Levered Free Cash Flow	-17.14	-10.61	20.09	48.87	4.72	-18.23
Unlevered Free Cash Flow	-5.37	1.84	31	52.28	9.09	-12.1
Change in Working Capital	0.55	-0.07	-0.58	-0.31	-3.12	-3.57

Updated Nov 14, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

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