Pershing Square Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Net Income	16.09	249.78	-14.15	209.46
Depreciation & Amortization	17.51	2.3	2.78	2.76
Loss (Gain) From Sale of Investments	36.43	-110.7	-	-
Other Operating Activities	30.66	45.31	132.06	28.24
Change in Accounts Receivable	1.01	-264.66	89.03	-321.66
Change in Accounts Payable	-1.97	1.64	1.4	1.46
Change in Unearned Revenue	0.04	3.79	-	-
Change in Income Taxes	-	3.4	0.8	12.6
Change in Other Net Operating Assets	-8.56	-65.09	82.56	150.95
Operating Cash Flow	172.22	-134.23	294.48	83.8
Operating Cash Flow Growth	-	-	251.41%	-
Capital Expenditures	-0.2	-0.45	-1.56	-0.02
Investment in Securities	-232.88	-607.23	-	-
Investing Cash Flow	-233.08	-607.68	-1.56	-0.02
Long-Term Debt Issued	-	-	16.38	-
Long-Term Debt Repaid	-	-	-80.54	-2.87
Net Debt Issued (Repaid)	197.02	-	-64.15	-2.87
Issuance of Common Stock	-	-	1,047	-
Other Financing Activities	-174.86	-167.55	-315.61	-81.42
Financing Cash Flow	22.15	-167.55	667.4	-84.29
Net Cash Flow	-38.71	-909.46	960.32	-0.51
Free Cash Flow	172.02	-134.68	292.92	83.78
Free Cash Flow Growth	-	-	249.62%	-
Free Cash Flow Margin	22.38%	-17.66%	64.31%	16.34%
Levered Free Cash Flow	153.76	98.93	170.25	-
Unlevered Free Cash Flow	156.2	100.37	172.18	-
Cash Interest Paid	4.53	2.36	4.33	6.49
Cash Income Tax Paid	21.21	19.44	15.18	5.57
Change in Working Capital	-18.41	-320.92	173.79	-156.66

SEC Filings: 10-K · 10-Q