Starwood Property Trust, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $411.5M | $359.9M | $339.2M | $871.5M | $447.7M | $331.7M | $509.7M | $385.8M |
| Depreciation & Amortization | $79.0M | $41.3M | $49.1M | $49.3M | $83.0M | $94.4M | $113.3M | $132.6M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | $15.1M | $7.3M | $8.7M | $8.8M | $9.5M | $11.7M | $22.6M | $43.9M |
| Stock-Based Compensation | — | — | — | — | — | — | — | — |
| Net Cash from Operating Activities | $977.9M | $646.6M | $528.6M | $213.7M | $-990.0M | $1.05B | $-13.2M | $585.5M |
| Investing Activities | ||||||||
| Capital Expenditures | $878.5M | $0 | $0 | — | — | — | — | — |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-3.78B | $2.08B | $855.1M | $-2.95B | $-4.28B | $-911.8M | $-775.9M | $-2.52B |
| Financing Activities | ||||||||
| Dividends Paid | $668.9M | $620.0M | $601.2M | $591.5M | $553.9M | $546.9M | $538.4M | $510.0M |
| Stock Repurchases | — | — | — | $0 | $0 | $33.8M | $0 | $12.1M |
| Net Cash from Financing Activities | $2.92B | $-2.49B | $-1.45B | $2.80B | $4.87B | $13.3M | $876.7M | $2.00B |
| Net Change in Cash | — | — | — | — | — | — | — | — |
| Free Cash Flow | $99.4M | $646.6M | $528.6M | — | — | — | — | — |