Ryanair Holdings PLC cash flow statement

In fiscal 2026, Ryanair Holdings PLC's operations generated $4.28bn of cash; it spent $2.19bn on capital projects, leaving free cash flow of $2.09bn. It returned $514m in dividends and $622m through buybacks.

Cash flow statement

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

Ryanair Holdings PLC: cash flow statement, annual
Fiscal year	2016Mar 2016	2017Mar 2017	2018Mar 2018	2019Mar 2019	2020Mar 2020	2021Mar 2021	2022Mar 2022	2023Mar 2023	2024Mar 2024	2025Mar 2025	2026Mar 2026
Cash from operations	—	—	2,613	2,038	1,475	−2,855	2,256	4,052	3,426	3,669	4,283
Depreciation and amortisation	472	546	656	742	832	666	836	961	1,149	1,304	1,592
Stock-based pay	—	—	7	9	8	4	10	17	−4	14	17
Capital spending	1,345	1,592	1,721	1,493	643	344	1,374	1,994	2,595	1,668	2,194
Free cash flow	—	—	892	546	832	−3,198	882	2,058	831	2,001	2,089
Free cash flow after stock pay	—	—	885	537	824	−3,202	872	2,041	835	1,987	2,072
Dividends paid	1,219	1,118	970	616	645	0	0	—	216	470	514
Share buybacks	—	—	—	—	—	—	—	—	—	1,587	622

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 Ryanair Holdings PLC'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 Ryanair Holdings PLC.