Grey Wolf Animal Health Cash Flow Statement

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

Millions CAD. 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	1.66	0.7	0.61	2.54	-0.97	Upgrade
Depreciation & Amortization	2.7	1.53	1.45	1.56	1.12	Upgrade
Stock-Based Compensation	0.08	0.09	0.23	0.21	0.18	Upgrade
Other Operating Activities	0.3	0.36	0.28	-4.41	0.74	Upgrade
Change in Accounts Receivable	-0.04	0.08	0.26	-0.83	0.55	Upgrade
Change in Inventory	-0.08	-0.39	-0.86	-0.9	-0.21	Upgrade
Change in Accounts Payable	-0.6	-0.48	0.4	1.3	0.79	Upgrade
Change in Other Net Operating Assets	-0.18	-0.14	0.06	-0.18	-0.07	Upgrade
Operating Cash Flow	3.83	1.75	2.43	-0.71	2.14	Upgrade
Operating Cash Flow Growth	119.38%	-28.23%	-	-	259.04%	Upgrade
Capital Expenditures	-0.52	-0.53	-0.28	-0.05	-0.01	Upgrade
Cash Acquisitions	-	-19.94	-	4.41	-23.22	Upgrade
Investing Cash Flow	-0.52	-20.47	-0.28	4.36	-23.24	Upgrade
Long-Term Debt Issued	-	18.5	-	-	22.68	Upgrade
Long-Term Debt Repaid	-2.06	-1.14	-1.22	-1.14	-0.38	Upgrade
Net Debt Issued (Repaid)	-2.06	17.37	-1.22	-1.14	22.29	Upgrade
Other Financing Activities	-	-0.02	-	-	-1.45	Upgrade
Financing Cash Flow	-2.06	17.35	-1.22	-1.14	23.32	Upgrade
Net Cash Flow	1.25	-1.37	0.93	2.51	2.22	Upgrade
Free Cash Flow	3.31	1.21	2.15	-0.76	2.12	Upgrade
Free Cash Flow Growth	173.19%	-43.58%	-	-	256.52%	Upgrade
Free Cash Flow Margin	9.26%	4.52%	8.46%	-3.38%	16.22%	Upgrade
Free Cash Flow Per Share	0.10	0.04	0.07	-0.05	0.15	Upgrade
Cash Interest Paid	1.68	0.43	0.47	1.2	0.22	Upgrade
Cash Income Tax Paid	-0.21	-0.12	-0.16	1.11	1.01	Upgrade
Levered Free Cash Flow	3.34	0.15	2.05	-7.07	3.17	Upgrade
Unlevered Free Cash Flow	4.45	0.56	2.43	-2.9	4.21	Upgrade
Change in Working Capital	-0.9	-0.94	-0.14	-0.61	1.06	Upgrade

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