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Medline Inc. cash flow statement

In fiscal 2025, Medline Inc.'s operations generated $1.74bn of cash; it spent $447m on capital projects, leaving free cash flow of $1.30bn. It returned $33.0m through buybacks.

Cash flow statement

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

Fiscal year2022Dec 20222023Dec 20232024Dec 20242025Dec 2025
Cash from operations1871,6851,7691,744
Depreciation and amortisation—9519771,011
Stock-based pay64786176
Capital spending—275354447
Free cash flow—1,4101,4151,297
Free cash flow after stock pay—1,3321,3541,221
Share buybacks—02033

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 Medline Inc.'s SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Medline Inc.