LyondellBasell Industries N.V. (LYB) Cash Flow Statement
Where LYB’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- $2.26B −40.8% vs 2024
- Capital expenditures
- $1.88B 6.2% of revenue
- Free cash flow
- $384.0M 1.3% margin
- Returned to shareholders
- $1.97B 512% of free cash flow
- Change in cash
- $61.0M cash at year-end $3.45B
Drawn to scale: where the cash came from and how it was used. Hover for values.
LYB operating cash flow, capex and free cash flow
LYB cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $5.61B2016 | $2.26B2025 | −9.6%/yr | |
| Capital expenditures | $2.24B2016 | $1.88B2025 | −2.0%/yr | |
| Free cash flow | $3.36B2016 | $384.0M2025 | −21.4%/yr | |
| Free cash flow margin | 11.5%2016 | 1.3%2025 | −10.3 pts | |
| Operating cash flow / net income | 1.462016 | 2.792024 | +1.33 | |
| Stock-based compensation | $38.0M2016 | $91.0M2025 | +10.2%/yr | |
| Dividends paid | $1.40B2016 | $1.76B2025 | +2.6%/yr | |
| Share buybacks (net) | $2.94B2016 | $201.0M2025 | −25.8%/yr | |
| Capex / revenue | 7.7%2016 | 6.2%2025 | −1.5 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
LYB cash flow by activity
LYB net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
LYB cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$738.0M | $1.37B | $2.12B | $3.89B | $5.62B | $1.43B | $3.40B | $4.69B | $4.88B | $3.84B |
| Depreciation & amortization | $1.39B | $1.52B | $1.53B | $1.27B | $1.39B | $1.39B | $1.31B | $1.24B | $1.17B | $1.06B |
| Stock-based compensation | $91.0M | $91.0M | $91.0M | $70.0M | $66.0M | $55.0M | $48.0M | $39.0M | $55.0M | $38.0M |
| Change in working capital | $415.0M | $30.0M | $437.0M | $450.0M | −$960.0M | $311.0M | −$13.0M | −$755.0M | −$257.0M | $374.0M |
| Other non-cash items | $1.10B | $809.0M | $761.0M | $443.0M | $1.58B | $226.0M | $217.0M | $256.0M | −$643.0M | $293.0M |
| Cash from operating activities | $2.26B | $3.82B | $4.94B | $6.12B | $7.70B | $3.40B | $4.96B | $5.47B | $5.21B | $5.61B |
| Investing activities | ||||||||||
| Capital expenditures | −$1.88B | −$1.84B | −$1.53B | −$1.89B | −$1.96B | −$1.95B | −$2.69B | −$2.10B | −$1.55B | −$2.24B |
| Investments (net) | $25.0M | −$1.85B | −$1.72B | −$1.98B | $575.0M | −$2.60B | $930.0M | $403.0M | −$1.76B | −$2.30B |
| Acquisitions & other investing | $77.0M | $1.84B | $1.47B | $1.89B | −$118.0M | −$363.0M | $129.0M | −$1.86B | $1.55B | $2.24B |
| Cash from investing activities | −$1.78B | −$1.85B | −$1.78B | −$1.98B | −$1.50B | −$4.91B | −$1.64B | −$3.56B | −$1.76B | −$2.30B |
| Financing activities | ||||||||||
| Dividends paid | −$1.76B | −$1.72B | −$1.61B | −$3.25B | −$1.49B | −$1.41B | −$1.46B | −$1.55B | −$1.42B | −$1.40B |
| Share repurchases & issuance (net) | −$201.0M | −$195.0M | −$211.0M | −$420.0M | −$463.0M | −$4.0M | −$3.75B | −$1.85B | −$866.0M | −$2.94B |
| Net borrowing (repayment) | $1.50B | −$32.0M | −$125.0M | −$4.0M | −$4.22B | $2.84B | $2.46B | $416.0M | −$503.0M | $989.0M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$40.0M | $52.0M | −$4.0M | $263.0M | −$215.0M | $842.0M | −$81.0M | −$16.0M | −$75.0M | −$5.0M |
| Cash from financing activities | −$507.0M | −$1.90B | −$1.95B | −$3.41B | −$6.38B | $2.27B | −$2.83B | −$3.01B | −$2.86B | −$3.35B |
| Summary | ||||||||||
| Net change in cash | $61.0M | −$17.0M | $1.25B | $679.0M | −$288.0M | $877.0M | $487.0M | −$1.13B | $650.0M | −$49.0M |
| Cash at end of period | $3.45B | $3.39B | $3.40B | $2.16B | $1.48B | $1.76B | $888.0M | $401.0M | $1.53B | $875.0M |
| Free cash flow | $384.0M | $1.98B | $3.41B | $4.23B | $5.74B | $1.46B | $2.27B | $3.37B | $3.66B | $3.36B |
| Free cash flow margin | 1.3% | 4.9% | 8.3% | 8.4% | 12.4% | 5.2% | 6.5% | 8.6% | 10.6% | 11.5% |
| Capex / revenue | 6.2% | 4.6% | 3.7% | 3.7% | 4.2% | 7.0% | 7.8% | 5.4% | 4.5% | 7.7% |
| Operating cash flow / net income | — | 2.79 | 2.33 | 1.57 | 1.37 | 2.39 | 1.46 | 1.17 | 1.07 | 1.46 |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | $559.0M | $125.0M | −$200.0M | −$830.0M | $115.0M | $177.0M | −$603.0M | $571.0M | $920.0M | $473.0M | $185.0M | $747.0M |
| Depreciation & amortization | $347.0M | $342.0M | $385.0M | $350.0M | $332.0M | $323.0M | $389.0M | $381.0M | $387.0M | $365.0M | $380.0M | $367.0M |
| Stock-based compensation | $19.0M | $47.0M | −$55.0M | −$15 | $20.0M | $35.0M | $20.0M | $18.0M | $19.0M | $34.0M | $20.0M | $23.0M |
| Change in working capital | −$872.0M | −$826.0M | $533.0M | $440.0M | $117.0M | −$1.09B | $1.33B | −$363.0M | $296.0M | −$629.0M | $590.0M | $158.0M |
| Other non-cash items | $699.0M | $43.0M | $844.0M | $1.02B | −$233.0M | −$24.0M | $774.0M | $63.0M | −$274.0M | −$357.0M | $329.0M | $371.0M |
| Cash from operating activities | $752.0M | −$269.0M | $1.51B | $983.0M | $351.0M | −$579.0M | $1.92B | $670.0M | $1.35B | −$114.0M | $1.50B | $1.67B |
| Investing activities | ||||||||||||
| Capital expenditures | −$270.0M | −$269.0M | −$1.43B | −$406.0M | −$539.0M | −$483.0M | −$504.0M | −$368.0M | −$484.0M | −$483.0M | −$484.0M | −$394.0M |
| Investments (net) | $0 | $0 | $0 | −$439.0M | −$504.0M | −$430.0M | −$547.0M | −$483.0M | −$313.0M | −$510.0M | −$606.0M | −$429.0M |
| Acquisitions & other investing | −$245.0M | −$10.0M | $1.02B | $406.0M | $539.0M | $483.0M | $504.0M | $368.0M | $484.0M | $483.0M | $484.0M | −$348.0M |
| Cash from investing activities | −$515.0M | −$279.0M | −$403.0M | −$439.0M | −$504.0M | −$430.0M | −$547.0M | −$483.0M | −$313.0M | −$510.0M | −$606.0M | −$1.17B |
| Financing activities | ||||||||||||
| Dividends paid | −$224.0M | −$224.0M | −$1.32B | −$443.0M | −$445.0M | −$433.0M | −$437.0M | −$437.0M | −$438.0M | −$408.0M | −$406.0M | −$407.0M |
| Share repurchases & issuance (net) | $0 | $0 | $201.0M | $201.0M | −$91.0M | −$110.0M | −$78.0M | −$42.0M | −$75.0M | $0 | $211.0M | −$41.0M |
| Net borrowing (repayment) | — | — | $999.0M | $0 | $499.0M | $0 | −$1.0M | $0 | — | — | — | −$425.0M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$9.0M | −$12.0M | $660.0M | −$206.0M | −$14.0M | −$4.0M | −$2.0M | −$5.0M | $32.0M | −$4.0M | −$210.0M | $29.0M |
| Cash from financing activities | −$233.0M | −$236.0M | $539.0M | −$448.0M | −$51.0M | −$547.0M | −$518.0M | −$484.0M | −$481.0M | −$412.0M | −$405.0M | −$844.0M |
| Summary | ||||||||||||
| Net change in cash | $1.0M | −$810.0M | $1.65B | $97.0M | −$166.0M | −$1.52B | $753.0M | −$229.0M | $533.0M | −$1.07B | $561.0M | $350.0M |
| Cash at end of period | $2.64B | $2.64B | $3.45B | $1.80B | $1.70B | $1.87B | $3.39B | $2.63B | $2.86B | $2.33B | $3.40B | $2.84B |
| Free cash flow | $482.0M | −$538.0M | $2.94B | $577.0M | −$188.0M | −$1.06B | $1.41B | $302.0M | $864.0M | −$597.0M | $1.02B | $1.27B |
| Free cash flow margin | 5.3% | −7.5% | 41.4% | 7.5% | −2.5% | −13.8% | 14.9% | 3.5% | 10.0% | −7.2% | 10.3% | 12.0% |
| Capex / revenue | 2.9% | 3.7% | 20.1% | 5.3% | 7.0% | 6.3% | 5.3% | 4.3% | 5.6% | 5.8% | 4.9% | 3.7% |
| Operating cash flow / net income | 1.35 | −2.15 | — | — | 3.05 | −3.27 | — | 1.17 | 1.47 | −0.24 | 8.13 | 2.23 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
LYB cash generation
In fiscal 2025 (ended December 31, 2025), LyondellBasell generated $2.3 billion of cash from operations (down 40.8%) and spent $1.9 billion on capital expenditures, leaving free cash flow of $384.0 million, 1.3% of revenue. It returned $2.0 billion to shareholders through dividends ($1.8 billion) and net share buybacks ($201.0 million). Cash and equivalents rose by $61.0 million over the year.
Related: LYB income statement, LYB balance sheet, LYB dividend history. See the LYB stock overview for the latest quote and news.
LYB cash flow FAQ
What is LyondellBasell's free cash flow?
LyondellBasell's free cash flow was $384.0 million in fiscal 2025: $2.3 billion of operating cash flow minus $1.9 billion of capital expenditures It was $2.0 billion a year earlier..
How much cash does LyondellBasell generate from operations?
LyondellBasell generated $2.3 billion of cash from operating activities in fiscal 2025.
How much does LyondellBasell spend on capital expenditures?
LyondellBasell spent $1.9 billion on capital expenditures in fiscal 2025, 6.2% of revenue, compared with $1.8 billion the year before.
How much stock does LyondellBasell buy back?
LyondellBasell spent $201.0 million on net share repurchases in fiscal 2025.
How much does LyondellBasell pay in dividends?
LyondellBasell paid $1.8 billion in dividends in fiscal 2025, 459.4% of free cash flow.