Meitav Trade Investments Cash Flow Statement

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

Millions ILS. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020
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
Net Income	59.29	48.24	40.16	26.45	13.35	Upgrade
Depreciation & Amortization	0.49	0.73	1	1.41	1.91	Upgrade
Stock-Based Compensation	0.41	0.87	0.68	0.67	0.54	Upgrade
Other Operating Activities	-5.68	-0.29	2.95	2.16	-0.73	Upgrade
Change in Accounts Receivable	-0.81	-6.99	36.88	-21.34	-3.78	Upgrade
Change in Accounts Payable	0.51	18.44	-42.84	38.49	-62.75	Upgrade
Change in Other Net Operating Assets	36.41	-78.84	121.01	-31.29	41.78	Upgrade
Operating Cash Flow	90.62	-17.84	159.84	16.55	-9.68	Upgrade
Operating Cash Flow Growth	-	-	865.77%	-	-	Upgrade
Investment in Securities	12.99	13.09	5.68	-6.93	-11.88	Upgrade
Investing Cash Flow	12.99	13.09	5.68	-6.93	-11.88	Upgrade
Short-Term Debt Issued	10.42	0.32	-	3.96	-	Upgrade
Total Debt Issued	10.42	0.32	-	3.96	-	Upgrade
Short-Term Debt Repaid	-	-	-3.96	-	-11.5	Upgrade
Long-Term Debt Repaid	-	-	-	-10	-	Upgrade
Total Debt Repaid	-	-	-3.96	-10	-11.5	Upgrade
Net Debt Issued (Repaid)	10.42	0.32	-3.96	-6.04	-11.5	Upgrade
Issuance of Common Stock	10.01	40.59	30	-	-	Upgrade
Repurchase of Common Stock	-7	-62	-	-	-	Upgrade
Common Dividends Paid	-46.79	-33.31	-101.95	-	-	Upgrade
Other Financing Activities	-0.43	18.82	-40.44	6.55	30.97	Upgrade
Financing Cash Flow	-33.79	-35.59	-116.35	0.51	19.47	Upgrade
Net Cash Flow	69.83	-40.33	49.17	10.13	-2.08	Upgrade
Cash Interest Paid	3.06	1.72	0.88	0.24	0.47	Upgrade
Cash Income Tax Paid	30.01	38.17	15.84	9.5	9.26	Upgrade
Levered Free Cash Flow	88.76	2.05	133.65	32.78	-	Upgrade
Unlevered Free Cash Flow	90.31	3.62	135.73	33.07	-	Upgrade
Change in Working Capital	36.12	-67.39	115.05	-14.14	-24.74	Upgrade

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