Unilever Cash Flow Statement

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

Millions EUR. 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	6,213	6,039	6,637	8,269	6,621
Depreciation & Amortization	1,353	1,370	1,148	1,946	1,763
Stock-Based Compensation	255	292	192	177	161
Other Adjustments	2,835	3,400	1,597	119	1,807
Change in Receivables	-2,620	-211	731	-1,852	-307
Changes in Inventories	-281	-190	282	-1,398	-458
Changes in Accounts Payable	3,017	213	-260	2,828	718
Changes in Income Taxes Payable	-2,720	-2,452	-1,933	-2,807	-2,333
Changes in Other Operating Activities	298	1,058	1,033	-	-
Operating Cash Flow	10,772	10,913	10,326	7,282	7,972
Operating Cash Flow Growth	-1.29%	5.68%	41.80%	-8.65%	-
Capital Expenditures	-1,417	-1,381	-1,194	-1,456	-1,108
Sale of Property, Plant & Equipment	126	15	15	82	101
Purchases of Intangible Assets	-174	-233	-241	-253	-232
Purchases of Investments	-111	-166	-533	-170	-142
Proceeds from Sale of Investments	239	59	62	266	137
Payments for Business Acquisitions	-1,674	-734	-100	-979	-2,131
Proceeds from Business Divestments	107	910	436	4,622	43
Other Investing Activities	-214	905	-739	341	86
Investing Cash Flow	-3,118	-625	-2,294	2,453	-3,246
Short-Term Debt Issued	-2,228	575	-506	-545	656
Net Short-Term Debt Issued (Repaid)	-2,228	575	-506	-545	656
Long-Term Debt Issued	4,278	4,234	4,418	7,776	4,748
Long-Term Debt Repaid	-3,848	-4,188	-3,819	-8,958	-4,014
Net Long-Term Debt Issued (Repaid)	430	46	599	-1,182	734
Repurchase of Common Stock	-1,510	-1,508	-1,507	-1,509	-3,018
Net Common Stock Issued (Repurchased)	-1,510	-1,508	-1,507	-1,509	-3,018
Common Dividends Paid	-4,453	-4,319	-4,363	-4,329	-4,483
Other Financing Activities	-2,123	-1,623	-1,307	-1,325	-988
Financing Cash Flow	-9,884	-6,829	-7,084	-8,890	-7,099
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-498	-48	-119	-7	285
Net Cash Flow	-2,728	3,411	829	838	-2,088
Free Cash Flow	9,355	9,532	9,132	5,826	6,864
Free Cash Flow Growth	-1.86%	4.38%	56.75%	-15.12%	-
FCF Margin	18.52%	18.16%	17.67%	9.70%	13.09%
Free Cash Flow Per Share	4.26	4.28	4.06	2.56	2.96
Levered Free Cash Flow	7,921	4,983	5,656	5,028	6,021
Unlevered Free Cash Flow	6,708	4,987	5,998	7,716	5,316

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q