Madison Air Solutions Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Net Income	97	175.2	58.2
Depreciation & Amortization	190	140.8	148.2
Loss (Gain) From Sale of Assets	-1.3	1	-0.6
Loss (Gain) From Sale of Investments	-1.9	-3.1	-
Stock-Based Compensation	110.7	-11.5	6
Other Operating Activities	58.2	-63.3	-39.7
Change in Accounts Receivable	-23	-55.8	-23.8
Change in Inventory	-36.2	-16.2	67.8
Change in Accounts Payable	40.2	51.9	15.2
Change in Unearned Revenue	52.9	20.1	-1.2
Change in Other Net Operating Assets	-6.6	-18.7	7.4
Operating Cash Flow	480.4	17.9	288.1
Operating Cash Flow Growth	2583.80%	-93.79%	-
Capital Expenditures	-40.6	-28.2	-26.1
Sale of Property, Plant & Equipment	2.8	6.5	8.9
Cash Acquisitions	-2,301	-	-
Investment in Securities	80.5	-60.7	-14.8
Other Investing Activities	-90.1	1,145	-3.5
Investing Cash Flow	-2,348	1,062	-35.5
Short-Term Debt Issued	95	-	-
Long-Term Debt Issued	1,733	-	-
Total Debt Issued	1,828	-	-
Long-Term Debt Repaid	-226.7	-27.8	-28.6
Net Debt Issued (Repaid)	1,601	-27.8	-28.6
Issuance of Common Stock	157.5	-	-
Common Dividends Paid	-16.8	-797.6	-3
Other Financing Activities	-4.9	-219.6	-9.2
Financing Cash Flow	1,737	-1,045	-40.8
Foreign Exchange Rate Adjustments	-0.2	-2.8	1.7
Miscellaneous Cash Flow Adjustments	-	-	-20.3
Net Cash Flow	-131.5	32.5	193.2
Free Cash Flow	439.8	-10.3	262
Free Cash Flow Margin	13.17%	-0.39%	10.25%
Cash Interest Paid	324.8	292.9	252.2
Cash Income Tax Paid	87	289.9	104.1
Levered Free Cash Flow	365.34	289.36	-
Unlevered Free Cash Flow	584.9	473.86	-
Change in Working Capital	27.3	-18.7	65.4

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