Amer Sports, Inc. cash flow statement

In fiscal 2025, Amer Sports, Inc.'s operations generated $730m of cash; it spent $217m on capital projects, leaving free cash flow of $513m.

Cash flow statement

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

Amer Sports, Inc.: cash flow statement, annual
Fiscal year	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	268	−92	199	425	730
Depreciation and amortisation	196	194	221	274	384
Stock-based pay	—	0	11	20	37
Capital spending	61	78	124	229	217
Free cash flow	207	−169	75	196	513
Free cash flow after stock pay	—	−169	65	176	476

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 Amer Sports, Inc.'s SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Amer Sports, Inc.