Sibanye Stillwater Limited (SBSW) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q4'25 | Q2'25 | Q4'24 | Q2'24 | Q4'23 | Q2'23 | Q4'22 | Q2'22 | Q4'21 | Q2'21 | Q4'20 | Q2'20 | Q4'19 | Q2'19 | Q4'18 | Q2'18 | Q4'17 | Q2'17 | Q4'16 | Q2'16 |
|---|
| Cash from Operations | 8.85B | 13.18B | 6.34B | 3.94B | 3.93B | 8.48B | 15.23B | 9.77B | 27.48B | 22.96B | 14.25B | 14.6B | 8.22B | 1.33B | 9.86B | 2.33B | 1.65B | 1.65B | 2.72B | 3.3B |
| Operating CF Margin % | 12.4% | 24.06% | 11.14% | 7.14% | 7.4% | 14% | 22.43% | 27.76% | 31.91% | 26.66% | 22.37% | 22.92% | 22.54% | 3.64% | 38.94% | 9.22% | 7.18% | 7.2% | 17.41% | 21.11% |
| Operating CF Growth % | 39.53% | 234.27% | 61.38% | -53.53% | -74.19% | -13.16% | -44.57% | -57.45% | 92.83% | 57.23% | 73.36% | 999.81% | -16.67% | -43.13% | 498.43% | 41.23% | -39.4% | -49.88% | 22.2% | 69.29% |
| Net Income | -1.51B | -3.59B | 175M | -7.47B | -45.2B | 7.42B | 6.38B | 12.02B | 8.22B | 24.84B | 19.93B | 9.38B | 316.6M | -254.7M | -2.58B | 76.7M | 366.3M | -4.8B | 3.14B | 333M |
| Depreciation & Amortization | 5.37B | 4.22B | 4.66B | 4.15B | 44.62B | 4.73B | 4.47B | 3.22B | 10.26B | 3.8B | 4.83B | 3.44B | 4.88B | 2.92B | 6.45B | 3.09B | 5.06B | 2.5B | 2.39B | 1.95B |
| Stock-Based Compensation | 0 | 615M | 114M | 137M | 70M | 43M | 106M | 112M | 85M | 298M | 214M | 298M | 199.7M | 163M | 164.7M | 134.7M | 115.7M | 116.2M | 358.8M | 137.4M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | -827M | -305M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 3.29B | 11.41B | -3.13B | 4.8B | 2.56B | -4.68B | 1.9B | -3.94B | 3.57B | -1.51B | 1.44B | 500M | 4.26B | -1.06B | 6.72B | -483.3M | -1.15B | 2.26B | -2.4B | 372.9M |
| Working Capital Changes | 1.7B | 522M | 4.52B | 2.33B | 1.88B | 963M | 2.37B | -1.65B | 5.34B | -4.47B | -12.17B | 973M | -1.44B | -449M | -897.4M | -488.4M | -2.74B | 1.59B | -764.5M | 509M |
| Change in Receivables | 0 | 0 | 0 | 0 | 1.33B | 0 | 116M | 0 | -510M | 0 | -2.17B | 0 | 3.11B | 0 | -461M | -230.5M | -214.9M | -107.45M | -220M | -110M |
| Change in Inventory | 0 | 0 | 0 | 0 | 1.51B | 0 | 605M | 0 | 1.38B | 692M | -9.03B | -4.51B | -5B | -2.5B | -924.8M | -462.4M | -937.7M | -468.85M | -35.5M | -17.75M |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 157.9M | 157.9M | 315.15M | 315.15M | 8.95M | 8.95M |
| Cash from Investing | -12.61B | -9.16B | -10.16B | -14.02B | -11.66B | -10.38B | -9.85B | -7.52B | -8.75B | -5.82B | -5.07B | -4.86B | -5.05B | 190.2M | -4.71B | -3.03B | -3.69B | -24.45B | -3.91B | -5.53B |
| Capital Expenditures | -10.76B | -9.54B | -10.42B | -11.15B | -11.56B | -10.85B | -9.76B | -6.14B | -7.15B | -5.59B | -5.48B | -4.13B | -5.12B | -2.58B | -4.01B | -3.07B | -3.61B | -2.48B | -2.39B | -1.76B |
| CapEx % of Revenue | 15.07% | 17.42% | 18.31% | 20.19% | 21.76% | 17.92% | 14.36% | 17.46% | 8.31% | 6.49% | 8.6% | 6.49% | 14.05% | 7.08% | 15.85% | 12.1% | 15.75% | 10.82% | 15.27% | 11.28% |
| Acquisitions | -1.78B | -96M | 66M | -3.05B | 247M | 224M | 0 | -1.32B | -15M | -562M | 0 | -756M | -52.3M | 2.64B | 244.2M | 0 | 0 | -25.59B | -1.5B | -3.81B |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 174.31M | 478M | 192M | 180M | -349M | 251M | -95M | -63M | -1.58B | 326M | 407M | 27M | 121.9M | 129M | -943.4M | 36.4M | -80M | 3.63B | -25.3M | 36.2M |
| Cash from Financing | 1.19B | 1.45B | 4.23B | 329M | 11.22B | -3.56B | -7.5B | -5.45B | -15.31B | -11.21B | -663M | -3.28B | -3.63B | 2.08B | -4.7B | 600.3M | -2.21B | 28.45B | 1.29B | 2.55B |
| Debt Issued (Net) | 2.89B | 1.45B | 0 | 415M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1000K | -1000K | -1000K | 0 | -800K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | -287.69M | 0 | -87M | -86M | -1.78B | -3.54B | -4.08B | -5.38B | -8.52B | -9.66B | -1.49B | -212M | -84.7M | -300K | 0 | -600K | -200K | -560.2M | -786.5M | -825.4M |
| Share Repurchases | 0 | 0 | 0 | 0 | -1.1B | 0 | 0 | 0 | -7.76B | -742M | -84M | -42.05M | -800K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -1.41B | 0 | 4.32B | 0 | 13B | -23M | -3.42B | -73M | 966M | -807M | 907M | -3.07B | -3.55B | 2.08B | -4.7B | 600.9M | -2.21B | 29.02B | 2.08B | 3.37B |
| Net Change in Cash | -2.41B | 21.01B | -15.56B | 15.56B | 1.7B | -1.96B | -1.05B | 19.68B | 25.23B | 21.04B | 18.84B | 10.64B | 4.98B | 5.33B | 2.03B | 1.58B | 1.82B | 6.28B | 788.55M | 691.35M |
| Free Cash Flow | -1.91B | 3.64B | -4.08B | -7.21B | -7.63B | -2.37B | 5.47B | 3.62B | 20.32B | 17.37B | 8.77B | 10.46B | 3.1B | -1.26B | 5.85B | -731.5M | -1.97B | -831.1M | 333.7M | 1.54B |
| FCF Margin % | -2.67% | 6.64% | -7.16% | -13.05% | -14.36% | -3.92% | 8.06% | 10.3% | 23.6% | 20.17% | 13.77% | 16.43% | 8.49% | -3.44% | 23.09% | -2.89% | -8.57% | -3.62% | 2.14% | 9.84% |
| FCF Growth % | 53.28% | 150.51% | 46.52% | -203.75% | -239.31% | -165.47% | -73.06% | -79.14% | 131.77% | 65.98% | 183.15% | 933.4% | -47.05% | -71.66% | 397.4% | 11.98% | -689.33% | -154.1% | -24.81% | 292.82% |
| FCF per Share | -2.69 | 5.14 | -5.76 | -10.18 | -10.78 | -3.35 | 7.74 | 5.12 | 28.94 | 23.32 | 12.38 | 14.21 | 4.52 | -2.15 | 10.32 | -1.28 | -3.27 | -2.06 | 0.78 | 4.08 |
| FCF Conversion (FCF/Net Income) | -5.88x | -3.67x | 36.25x | -0.53x | -0.09x | 1.14x | 2.39x | 1.63x | 1.66x | 1.39x | 0.97x | 1.00x | 264.72x | 42.75x | -7.89x | -1.87x | -0.74x | -0.74x | 1.47x | 1.78x |
| Interest Paid | 0 | 1.31B | 1.07B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |