Amrize Ltd cash flow statement

In fiscal 2025, Amrize Ltd's operations generated $2.21bn of cash; it spent $788m on capital projects, leaving free cash flow of $1.42bn.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Amrize Ltd: cash flow statement, annual
Fiscal year	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Cash from operations	2,036	2,282	2,208	2,013
Depreciation and amortisation	689	736	758	828
Stock-based pay	5	6	14	37
Capital spending	630	642	788	937
Free cash flow	1,406	1,640	1,420	1,076
Free cash flow after stock pay	1,401	1,634	1,406	1,039

US$ millions unless shown otherwise. Fiscal quarters.

Amrize Ltd: cash flow statement, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Cash from operations	1,727	−847	406	858	1,791	−893	418	697
Depreciation and amortisation	194	181	187	200	190	198	217	223
Stock-based pay	1	1	2	3	8	9	11	9
Capital spending	84	213	235	189	151	275	245	266
Free cash flow	1,643	−1,060	171	669	1,640	−1,168	173	431
Free cash flow after stock pay	1,642	−1,061	169	666	1,632	−1,177	162	422

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Amrize Ltd's SEC filings (10-K and 10-Q), retrieved October 31, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Amrize Ltd.