FRP Advisory Group Cash Flow Statement

Financials in millions GBP. Fiscal year is May - April.

Millions GBP. Fiscal year is May - Apr.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2017
Period Ending	Apr '25 Apr 30, 2025	Apr '24 Apr 30, 2024	Apr '23 Apr 30, 2023	Apr '22 Apr 30, 2022	Apr '21 Apr 30, 2021	2020 - 2017
Net Income	22.5	22	12.7	11.9	13.61	Upgrade
Depreciation & Amortization	3.2	2.8	2.5	2.1	1.55	Upgrade
Stock-Based Compensation	5.6	3.8	8.4	8	4.64	Upgrade
Other Operating Activities	0.2	-0.9	1.3	-1.7	-1.22	Upgrade
Change in Accounts Receivable	-6	-9	-11.6	-3.6	-2.83	Upgrade
Change in Accounts Payable	5	6.9	-2.2	1.6	-4.98	Upgrade
Operating Cash Flow	30.5	25.6	11.1	18.3	10.77	Upgrade
Operating Cash Flow Growth	19.14%	130.63%	-39.34%	69.95%	309.74%	Upgrade
Capital Expenditures	-1.2	-0.9	-0.6	-1.4	-1.11	Upgrade
Cash Acquisitions	-10.6	-4.4	-1.6	-4.4	-12.17	Upgrade
Other Investing Activities	0.1	0.2	0.2	-	-0.04	Upgrade
Investing Cash Flow	-11.7	-5.1	-2	-5.8	-13.32	Upgrade
Long-Term Debt Issued	7.2	-	-	-	8	Upgrade
Long-Term Debt Repaid	-4.5	-3.4	-3.4	-2.4	-0.91	Upgrade
Net Debt Issued (Repaid)	2.7	-3.4	-3.4	-2.4	7.09	Upgrade
Issuance of Common Stock	-	-	7.5	-	3.76	Upgrade
Common Dividends Paid	-12.6	-11	-9.8	-9.2	-4.99	Upgrade
Other Financing Activities	-1.1	-0.9	-0.6	-0.4	-0.23	Upgrade
Financing Cash Flow	-11	-15.3	-6.3	-12	5.63	Upgrade
Net Cash Flow	7.8	5.2	2.8	0.5	3.07	Upgrade
Free Cash Flow	29.3	24.7	10.5	16.9	9.65	Upgrade
Free Cash Flow Growth	18.62%	135.24%	-37.87%	75.06%	402.55%	Upgrade
Free Cash Flow Margin	19.25%	19.27%	10.10%	17.75%	12.22%	Upgrade
Free Cash Flow Per Share	0.12	0.10	0.04	0.07	0.04	Upgrade
Cash Interest Paid	1.1	0.9	0.6	0.4	0.23	Upgrade
Cash Income Tax Paid	9.5	9.4	2	5.5	4.45	Upgrade
Levered Free Cash Flow	24.14	18.06	7.39	11.69	12.27	Upgrade
Unlevered Free Cash Flow	24.83	18.56	7.76	12	12.42	Upgrade
Change in Working Capital	-1	-2.1	-13.8	-2	-7.82	Upgrade

Source: S&P Capital IQ. Standard template. Financial Sources.