Elbit Systems Ltd.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $534.3M | $321.1M | $215.1M | $275.4M | $274.4M | $237.7M | $227.9M | $206.7M |
| Depreciation & Amortization | $171.4M | $158.4M | $164.8M | $161.3M | $153.1M | $144.4M | $137.1M | $118.2M |
| Depreciation | $140.5M | $124.2M | $120.9M | $112.1M | $106.1M | $105.0M | $101.1M | $91.7M |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $26.4M | $15.8M | $12.1M | $10.5M | $5.3M | $4.1M | $4.0M | $1.4M |
| Net Cash from Operating Activities | $778.4M | $534.6M | $113.7M | $240.1M | $416.9M | $278.8M | $-53.3M | $191.7M |
| Investing Activities | ||||||||
| Capital Expenditures | $225.6M | $215.1M | $187.0M | $205.1M | $188.6M | $132.2M | $137.6M | $102.3M |
| Business Acquisitions | $0 | $0 | $10.4M | $12.4M | $385.0M | $-218.0K | $357.1M | $504.4M |
| Net Cash from Investing Activities | $-390.7M | $-178.8M | $-210.6M | $-152.0M | $-587.7M | $-22.9M | $-106.8M | $-592.9M |
| Financing Activities | ||||||||
| Dividends Paid | $111.7M | $89.0M | $89.2M | $86.8M | $79.2M | $78.2M | $62.6M | $75.3M |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $-17.9M | $-287.9M | $83.2M | $-136.0M | $151.0M | $-198.2M | $172.7M | $453.6M |
| Net Change in Cash | $369.8M | $67.9M | $-13.7M | $-47.9M | $-19.8M | $57.7M | $12.6M | $52.4M |
| Free Cash Flow | $552.8M | $319.6M | $-73.3M | $35.0M | $228.3M | $146.6M | $-190.9M | $89.4M |