Shaheen Insurance Company Cash Flow Statement

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

Millions PKR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2016
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	2020 - 2016
Net Income	152.34	165.27	116.3	53.38	31.08	Upgrade
Depreciation & Amortization	35.87	21.13	12.47	15.45	15.98	Upgrade
Other Amortization	0.28	0.25	-	-	-	Upgrade
Gain (Loss) on Sale of Assets	-2.91	-8.47	-0.39	-2.97	-0.55	Upgrade
Change in Other Net Operating Assets	-51.03	14.42	132.66	79.2	11.76	Upgrade
Other Operating Activities	-102.59	-108.93	-122.82	-81.81	-49.42	Upgrade
Operating Cash Flow	25.58	81.85	138.23	51.14	-10.72	Upgrade
Operating Cash Flow Growth	-68.75%	-40.79%	170.28%	-	-	Upgrade
Capital Expenditures	-32.76	-61.7	-44.11	-27.47	-8.19	Upgrade
Sale of Property, Plant & Equipment	10.57	12.99	2.58	3.13	0.55	Upgrade
Investment in Securities	-462.08	-581.14	13.01	-10.39	-0.71	Upgrade
Other Investing Activities	447.4	155.02	135.74	70.19	46.96	Upgrade
Investing Cash Flow	-36.87	-474.82	107.22	35.45	38.61	Upgrade
Total Debt Repaid	-14.8	-16.04	-14.85	-12.73	-18.57	Upgrade
Net Debt Issued (Repaid)	-14.8	-16.04	-14.85	-12.73	-18.57	Upgrade
Common Dividends Paid	-	-	-0.02	-	-	Upgrade
Other Financing Activities	-7.18	-3.12	-	-	-	Upgrade
Financing Cash Flow	-21.98	-19.16	-14.86	-12.73	-18.57	Upgrade
Miscellaneous Cash Flow Adjustments	-	0	-	-	-	Upgrade
Net Cash Flow	-33.27	-412.14	230.58	73.86	9.32	Upgrade
Free Cash Flow	-7.18	20.15	94.12	23.67	-18.91	Upgrade
Free Cash Flow Growth	-	-78.59%	297.66%	-	-	Upgrade
Free Cash Flow Margin	-0.56%	1.84%	15.89%	6.04%	-8.04%	Upgrade
Free Cash Flow Per Share	-0.07	0.19	0.90	0.23	-0.18	Upgrade
Cash Interest Paid	7.18	3.12	-	-	-	Upgrade
Cash Income Tax Paid	68.35	46.49	17.3	9.02	8.39	Upgrade
Levered Free Cash Flow	-477.89	-233.21	171.69	72.76	45.32	Upgrade
Unlevered Free Cash Flow	-473.31	-231.26	173.14	74.29	46.67	Upgrade
Change in Working Capital	-51.03	14.42	132.66	79.2	11.76	Upgrade

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