Stellantis N.V. (STLA) Cash Flow Statement
Where STLA’s cash came from and went, 2025
December 31, 2025 · euros- Cash from operations
- −€5.46B −236.3% vs 2024
- Capital expenditures
- €10.74B 7.0% of revenue
- Free cash flow
- −€16.20B −10.6% margin
- Returned to shareholders
- €2.30B
- Change in cash
- €76.0M cash at year-end €35.41B
Cash from operations
−€5.46B
Capital expenditures
−€10.74B
Investments (net)
+€2.86B
Acquisitions & other
+€955.3M
Dividends
−€2.30B
Net borrowing (repayment)
+€9.49B
Shares issued
+€49.0M
Other financing
+€1.66B
Currency & other
+€3.57B
Change in cash
€76.0M
Drawn to scale: where the cash came from and how it was used. Hover for values.
STLA operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
STLA cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | €10.59B2016 | −€5.46B2025 | — | |
| Capital expenditures | €8.81B2016 | €10.74B2025 | +2.2%/yr | |
| Free cash flow | €1.78B2016 | −€16.20B2025 | — | |
| Free cash flow margin | 1.6%2016 | −10.6%2025 | −12.2 pts | |
| Operating cash flow / net income | 5.842016 | 0.732024 | −5.11 | |
| Stock-based compensation | €17.8M2016 | €189.0M2023 | +40.1%/yr | |
| Dividends paid | €18.0M2016 | €2.30B2025 | +71.4%/yr | |
| Share buybacks (net) | €137.0M2017 | €02025 | −100.0% | |
| Capex / revenue | 7.9%2016 | 7.0%2025 | −0.9 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
STLA cash flow by activity
OperatingInvestingFinancingChange in cash
STLA net income vs operating cash flow
Net incomeOperating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
STLA cash flow statement in euros
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −€26.27B | €5.52B | €18.62B | €16.78B | €13.22B | €24.0M | €2.70B | €3.33B | €3.51B | €1.81B |
| Depreciation & amortization | €6.98B | €7.23B | €7.55B | €6.80B | €5.87B | €5.14B | €5.45B | €5.51B | €5.89B | €5.96B |
| Stock-based compensation | — | — | €189.0M | €182.0M | €228.8M | €34.0M | €41.5M | €48.9M | €40.1M | €17.8M |
| Change in working capital | −€8.2M | −€8.09B | −€4.76B | −€4.48B | €1.21B | €2.56B | €1.87B | −€1.11B | −€459.0M | €777.0M |
| Other non-cash items | €13.84B | −€645.0M | €881.0M | €682.0M | −€1.88B | €1.42B | €406.5M | €2.17B | €1.40B | €2.03B |
| Cash from operating activities | −€5.46B | €4.01B | €22.48B | €19.96B | €18.65B | €9.18B | €10.46B | €9.95B | €10.38B | €10.59B |
| Investing activities | ||||||||||
| Capital expenditures | −€10.74B | −€11.06B | −€10.19B | −€9.01B | −€10.11B | −€8.60B | −€8.38B | −€5.39B | −€8.67B | −€8.81B |
| Investments (net) | €2.86B | −€15.98B | −€15.05B | −€10.53B | €8.67B | −€7.92B | −€2.98B | −€6.74B | −€9.30B | — |
| Acquisitions & other investing | €955.3M | €11.06B | €10.19B | €9.01B | €10.11B | €8.60B | €5.40B | €5.39B | €8.67B | −€224.0M |
| Cash from investing activities | −€6.93B | −€15.98B | −€15.05B | −€10.53B | €8.67B | −€7.92B | −€5.97B | −€6.74B | −€9.30B | −€9.04B |
| Financing activities | ||||||||||
| Dividends paid | −€2.30B | −€4.65B | −€4.21B | −€3.35B | −€4.20B | −€73,000 | −€3.06B | −€1.0M | −€1.0M | −€18.0M |
| Share repurchases & issuance (net) | €0 | −€3.00B | −€2.43B | −€923.0M | −€3.26B | −€163.0M | — | −€48.0M | −€137.0M | — |
| Net borrowing (repayment) | €9.49B | €7.20B | €114.0M | −€6.88B | €3.26B | €2.33B | €1.00B | €306.0M | €422.0M | −€1.64B |
| Shares issued | €49.0M | €104.0M | €92.0M | €40.0M | €243.0M | €2.0M | €0 | €0 | €0 | €0 |
| Other financing | €1.66B | €2.41B | −€2.76B | −€2.05B | €2.60B | €6.92B | −€3.77B | −€3.04B | −€4.76B | −€3.47B |
| Cash from financing activities | €8.90B | €2.06B | −€9.20B | −€13.17B | −€1.37B | €9.09B | −€5.83B | −€2.79B | −€4.47B | −€5.13B |
| Summary | ||||||||||
| Net change in cash | €76.0M | −€9.57B | −€2.76B | −€3.20B | €26.74B | €8.83B | €2.56B | −€188.0M | −€4.68B | −€3.34B |
| Cash at end of period | €35.41B | €34.10B | €43.67B | €46.43B | €49.63B | €23.85B | €15.01B | €12.45B | €12.64B | €17.32B |
| Free cash flow | −€16.20B | −€7.05B | €12.29B | €10.95B | €8.53B | €583.0M | €2.08B | €4.56B | €1.72B | €1.78B |
| Free cash flow margin | −10.6% | −4.5% | 6.5% | 6.1% | 5.7% | 0.7% | 1.9% | 4.1% | 1.5% | 1.6% |
| Capex / revenue | 7.0% | 7.1% | 5.4% | 5.0% | 6.8% | 9.9% | 7.8% | 4.9% | 7.8% | 7.9% |
| Operating cash flow / net income | — | 0.73 | 1.21 | 1.19 | 1.41 | 382.62 | 3.87 | 2.99 | 2.96 | 5.84 |
| Jun '26 | Mar '26 | Dec '25 | Jun '25 | Mar '25 | Dec '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | €500.0M | €390.0M | €538.0M | −€2.24B | −€371.0M | −€151.0M | €5.62B | €3.97B | €7.67B | €3.84B | €5.96B | €5.92B |
| Depreciation & amortization | €1.59B | €1.57B | €3.41B | €3.58B | €1.88B | €3.63B | €3.60B | €1.12B | €3.81B | €1.35B | €1.45B | €1.44B |
| Stock-based compensation | — | — | — | €32.0M | — | −€24.0M | €69.0M | €68.6M | €100.0M | €50.0M | €48.6M | €48.3M |
| Change in working capital | −€4.99B | −€693.0M | −€3.05B | −€653.0M | −€3.30B | €1.00B | −€1.04B | €616.1M | −€500.0M | −€250.0M | −€3.18B | −€3.16B |
| Other non-cash items | €2.72B | −€3.98B | −€3.61B | −€3.01B | −€1.06B | −€5.37B | −€4.28B | −€2.48B | −€1.05B | −€442.5M | €3.03B | €3.01B |
| Cash from operating activities | −€169.0M | −€2.72B | −€2.72B | −€2.29B | −€2.85B | −€912.0M | €3.97B | €3.29B | €10.04B | €4.55B | €7.31B | €7.26B |
| Investing activities | ||||||||||||
| Capital expenditures | −€1.46B | −€1.35B | −€1.63B | −€5.16B | −€2.66B | −€5.36B | −€5.70B | −€2.71B | −€5.75B | −€2.87B | −€2.43B | −€2.41B |
| Investments (net) | −€3.0M | €465.0M | — | €1.27B | €1.18B | — | — | — | — | — | — | — |
| Acquisitions & other investing | −€242.0M | −€432.0M | €315.0M | €1.75B | — | −€2.40B | −€1.72B | — | −€4.33B | — | −€3.49B | — |
| Cash from investing activities | −€1.71B | −€1.31B | −€1.31B | −€2.15B | — | −€7.76B | −€7.42B | — | −€10.08B | — | −€5.92B | — |
| Financing activities | ||||||||||||
| Dividends paid | — | — | — | −€1.96B | — | — | −€4.65B | −€763.2M | −€450.0M | −€763.2M | −€2.30B | −€2.28B |
| Share repurchases & issuance (net) | — | — | — | — | — | −€1.00B | −€2.00B | −€1.2M | −€1.76B | −€880.0M | −€367.7M | −€365.5M |
| Net borrowing (repayment) | €3.55B | €631.0M | — | €1.24B | €2.66B | — | — | — | — | — | — | — |
| Shares issued | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 |
| Other financing | −€28.0M | €4.89B | €5.52B | €2.65B | €0 | €7.55B | €1.74B | −€291.3M | −€2.98B | −€708.3M | €210.1M | €208.8M |
| Cash from financing activities | €3.52B | €5.52B | €5.52B | €1.94B | €2.66B | €6.55B | −€4.91B | −€1.06B | −€5.19B | −€2.35B | −€2.45B | −€2.44B |
| Summary | ||||||||||||
| Net change in cash | €1.75B | €1.80B | €1.80B | −€3.43B | −€1.32B | −€3.64B | −€9.23B | −€27.97B | −€5.22B | −€2.54B | €1.35B | €1.35B |
| Cash at end of period | €33.70B | €31.95B | €31.95B | €30.70B | €32.78B | €34.10B | €36.33B | €48.40B | €43.67B | −€2.54B | €1.35B | €1.35B |
| Free cash flow | −€1.63B | −€4.07B | −€4.35B | −€7.45B | −€5.50B | −€6.24B | −€1.73B | €581.5M | €3.35B | €1.67B | €4.88B | €4.85B |
| Free cash flow margin | −2.0% | −10.7% | −5.5% | −10.0% | −15.4% | −8.7% | −2.0% | 1.4% | 3.7% | 3.7% | 5.0% | 9.9% |
| Capex / revenue | 1.8% | 3.5% | 2.1% | 6.9% | 7.4% | 7.5% | 6.7% | 6.4% | 6.3% | 6.3% | 2.5% | 4.9% |
| Operating cash flow / net income | −0.34 | −6.97 | −5.05 | — | — | — | 0.71 | 0.83 | 1.31 | 1.18 | 1.23 | 1.23 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in euros as reported; data from EODHD.
STLA cash generation
In fiscal 2025 (ended December 31, 2025), Stellantis generated -€5.5 billion of cash from operations (down 236.3%) and spent €10.7 billion on capital expenditures, leaving free cash flow of -€16.2 billion, −10.6% of revenue. It returned €2.3 billion to shareholders through dividends (€2.3 billion) and net share buybacks (€0). Cash and equivalents rose by €76.0 million over the year.
Related: STLA income statement, STLA balance sheet, STLA dividend history. See the STLA stock overview for the latest quote and news.
STLA cash flow FAQ
What is Stellantis's free cash flow?
Stellantis's free cash flow was -€16.2 billion in fiscal 2025: -€5.5 billion of operating cash flow minus €10.7 billion of capital expenditures It was -€7.1 billion a year earlier..
How much cash does Stellantis generate from operations?
Stellantis generated -€5.5 billion of cash from operating activities in fiscal 2025.
How much does Stellantis spend on capital expenditures?
Stellantis spent €10.7 billion on capital expenditures in fiscal 2025, 7.0% of revenue, compared with €11.1 billion the year before.
How much does Stellantis pay in dividends?
Stellantis paid €2.3 billion in dividends in fiscal 2025.