Nkt A/S (NRKBY) Cash Flow Statement
Where NRKBY’s cash came from and went, 2025
December 31, 2025 · euros- Cash from operations
- €499.0M −52.0% vs 2024
- Capital expenditures
- €743.0M 20.8% of revenue
- Free cash flow
- −€244.0M −6.8% margin
- Returned to shareholders
- €20.0M
- Change in cash
- −€302.0M cash at year-end €1.21B
Drawn to scale: where the cash came from and how it was used. Hover for values.
NRKBY operating cash flow, capex and free cash flow
NRKBY cash flow trends, 2021–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | €208.8M2021 | €499.0M2025 | +24.3%/yr | |
| Capital expenditures | €213.4M2021 | €743.0M2025 | +36.6%/yr | |
| Free cash flow | −€4.6M2021 | −€244.0M2025 | — | |
| Free cash flow margin | −0.3%2021 | −6.8%2025 | −6.6 pts | |
| Operating cash flow / net income | 5.542022 | 1.812025 | −3.73 | |
| Share buybacks (net) | €02021 | €20.0M2025 | — | |
| Capex / revenue | 11.7%2021 | 20.8%2025 | +9.2 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
NRKBY cash flow by activity
NRKBY 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).
NRKBY cash flow statement in euros
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Operating activities | |||||
| Net income | €275.0M | €337.0M | €113.4M | €53.8M | −€29.8M |
| Change in working capital | €160.0M | €711.0M | €320.0M | €185.1M | €50.7M |
| Other non-cash items | €64.0M | −€9.0M | €108.6M | €59.3M | €187.9M |
| Cash from operating activities | €499.0M | €1.04B | €542.0M | €298.2M | €208.8M |
| Investing activities | |||||
| Capital expenditures | −€743.0M | −€495.0M | −€238.0M | −€191.1M | −€213.4M |
| Investments (net) | — | −€639.0M | −€247.0M | −€204.8M | −€211.2M |
| Financing activities | |||||
| Share repurchases & issuance (net) | −€20.0M | −€2.0M | −€7.0M | −€2.5M | €0 |
| Net borrowing (repayment) | −€15.0M | −€8.0M | −€1.0M | −€19.2M | −€23.3M |
| Shares issued | €0 | €0 | €357.0M | €0 | €0 |
| Summary | |||||
| Net change in cash | −€302.0M | €621.0M | €628.0M | €65.4M | −€38.7M |
| Cash at end of period | €1.21B | €1.52B | €888.0M | €258.5M | €200.5M |
| Free cash flow | −€244.0M | €544.0M | €304.0M | €107.1M | −€4.6M |
| Free cash flow margin | −6.8% | 16.7% | 11.8% | 5.2% | −0.3% |
| Capex / revenue | 20.8% | 15.2% | 9.3% | 9.2% | 11.7% |
| Operating cash flow / net income | 1.81 | 3.08 | 4.78 | 5.54 | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating activities | |||||||||
| Net income | €52.0M | €58.0M | €94.0M | €65.0M | €51.0M | €402.9M | €417.7M | €425.2M | €179.0M |
| Change in working capital | −€225.0M | −€17.0M | €527.0M | −€51.0M | −€82.0M | −€234.0M | €296.0M | −€128.0M | €585.0M |
| Other non-cash items | €28.0M | €13.0M | −€48.0M | €54.0M | €30.0M | −€309.9M | −€345.7M | −€316.2M | −€122.0M |
| Cash from operating activities | −€145.0M | €54.0M | €573.0M | €68.0M | −€1.0M | −€141.0M | €368.0M | −€19.0M | €642.0M |
| Investing activities | |||||||||
| Capital expenditures | −€104.0M | −€146.0M | −€232.0M | −€170.0M | −€174.0M | −€167.0M | −€216.0M | −€115.0M | −€100.0M |
| Investments (net) | — | — | — | −€170.0M | −€174.0M | −€167.0M | −€216.0M | −€115.0M | −€244.0M |
| Financing activities | |||||||||
| Share repurchases & issuance (net) | €0 | €0 | €0 | €0 | −€20.0M | €0 | −€2.0M | €0 | €0 |
| Net borrowing (repayment) | −€3.0M | −€2.0M | −€2.0M | −€2.0M | −€1.0M | −€10.0M | €2.0M | €4.0M | — |
| Shares issued | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 |
| Summary | |||||||||
| Net change in cash | −€279.0M | −€86.0M | €337.0M | −€118.0M | −€198.0M | −€323.0M | €150.0M | −€142.0M | €641.0M |
| Cash at end of period | €850.0M | €1.13B | €1.21B | €878.0M | €993.0M | €1.19B | €1.52B | €1.36B | €1.50B |
| Free cash flow | −€249.0M | −€92.0M | €341.0M | −€102.0M | −€175.0M | −€308.0M | €152.0M | −€134.0M | €542.0M |
| Free cash flow margin | −26.3% | −10.6% | 40.3% | −10.9% | −18.5% | −36.8% | 17.1% | −15.7% | 67.6% |
| Capex / revenue | 11.0% | 16.9% | 27.4% | 18.2% | 18.4% | 20.0% | 24.3% | 13.4% | 12.5% |
| Operating cash flow / net income | −2.79 | 0.93 | 6.10 | 1.05 | −0.02 | −0.35 | 0.88 | −0.04 | 3.59 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in euros as reported; data from EODHD.
NRKBY cash generation
In fiscal 2025 (ended December 31, 2025), Nkt A/S generated €499.0 million of cash from operations (down 52.0%) and spent €743.0 million on capital expenditures, leaving free cash flow of -€244.0 million, −6.8% of revenue. It returned €20.0 million to shareholders through dividends (€0) and net share buybacks (€20.0 million). Cash and equivalents fell by €302.0 million over the year.
Related: NRKBY income statement, NRKBY balance sheet. See the NRKBY stock overview for the latest quote and news.
NRKBY cash flow FAQ
What is Nkt A/S's free cash flow?
Nkt A/S's free cash flow was -€244.0 million in fiscal 2025: €499.0 million of operating cash flow minus €743.0 million of capital expenditures It was €544.0 million a year earlier..
How much cash does Nkt A/S generate from operations?
Nkt A/S generated €499.0 million of cash from operating activities in fiscal 2025, 1.81 times its net income of €275.0 million.
How much does Nkt A/S spend on capital expenditures?
Nkt A/S spent €743.0 million on capital expenditures in fiscal 2025, 20.8% of revenue, compared with €495.0 million the year before.
How much stock does Nkt A/S buy back?
Nkt A/S spent €20.0 million on net share repurchases in fiscal 2025.