CNH Industrial N.V. cash flow statement CNH

Annual Quarterly

In fiscal 2025, which ended Dec 31, 2025, CNH Industrial N.V. generated $2.5 billion of cash from operations, up 29.0% from the year before. The company returned $333.0 million in dividends to shareholders.

USD in millions, except per-share amounts and ratios. The percent under a figure is the change from the year before.

Line	FY 2026 Jun 30, 2026	FY 2025 Dec 31, 2025	FY 2024 Dec 31, 2024	FY 2023 Dec 31, 2023	FY 2022 Dec 31, 2022	FY 2021 Dec 31, 2021	FY 2020 Dec 31, 2020	FY 2019 Dec 31, 2019	FY 2018 Dec 31, 2018	FY 2013 Dec 31, 2013
Operating
Depreciation and amortization	—	267 +13.6%	235 +10.3%	213 +7.6%	198 -5.7%	210 -7.5%	227 -73.4%	853 -11.6%	965 +3.9%	854
Stock-based compensation	—	45 -36.6%	71 -28.3%	99 +13.8%	87	—	—	—	—	39
Operating cash flow	1,784 -47.8%	2,538 +29.0%	1,968 +117.0%	907 +62.8%	557 -86.4%	4,082 -26.2%	5,529 +202.8%	1,826 -28.5%	2,554	1,522
Investing
Capital expenditures	—	—	—	—	—	—	—	—	—	2,666
Investing cash flow	-685 +72.2%	-1,380 +50.2%	-2,772 +25.1%	-3,699 -22.9%	-3,009 +39.8%	-5,001 -81.9%	-2,750 -38.4%	-1,987 -3.5%	-1,920	-3,788
Financing
Debt issued	13,397 +6.1%	12,985 -14.1%	15,111 +52.0%	9,941 -11.1%	11,183 +40.0%	7,988 -10.1%	8,888 -32.7%	13,197 -18.6%	16,211 +2.0%	12,464
Debt repaid	14,028 +28.7%	13,006 -3.3%	13,453 +63.6%	8,224 -10.8%	9,223 +1.5%	9,088 +25.8%	7,227 -44.1%	12,925 -23.6%	16,921 +0.7%	9,988
Dividends paid	139 -58.4%	333 -45.1%	607 +12.8%	538 +27.2%	423 +125.0%	188 +2250.0%	8 -97.2%	283 +16.5%	243 +44.6%	368
Financing cash flow	-1,783 -251.0%	-2,020 -2914.9%	-67 -102.6%	2,598 +32.3%	1,964 +235.9%	-1,445 -319.3%	659 +219.9%	206 +128.5%	-723	2,616
Change in cash
Net change in cash	-683 -236.6%	-637 +46.0%	-1,179 -1303.6%	-84 +88.3%	-716 +74.1%	-2,767 -171.8%	3,856 +12953.3%	-30 +92.4%	-397	—
Free cash flow	—	—	—	—	—	—	—	—	—	-1,144
Per share
Free cash flow per share	—	—	—	—	—	—	—	—	—	-0.91
Dividend per share	0.10 -60.0%	0.25 -46.8%	0.47 +18.7%	0.40 +31.1%	0.30 +128.8%	0.13	0.00 -100.0%	0.20 +17.3%	0.17 +46.6%	—
Shareholder returns
Returned to shareholders	139	333	607	538	423	188	8	283	243	368
Ratios
Free cash flow margin	—	—	—	—	—	—	—	—	—	-3.38%
Capital expenditures to revenue	—	—	—	—	—	—	—	—	—	7.88%
Stock-based compensation to revenue	—	0.29%	0.42%	0.45%	0.40%	—	—	—	—	0.12%
Cash conversion	5.74x	4.98x	1.58x	0.40x	0.27x	2.37x	—	1.28x	2.39x	2.25x

How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and ratios. Capital expenditures, debt repaid, dividends, and buybacks are positive amounts. Investing and financing cash flow keep the filing sign, so an outflow is negative. Free cash flow is operating cash flow minus capital expenditures. The first column is the trailing twelve months through the latest quarter. Returned to shareholders is dividends plus buybacks. Free cash flow margin, capital expenditures, and stock-based compensation are divided by revenue. Cash conversion is operating cash flow divided by net income. More on our methodology.

Company profile

Industry: Construction Machinery & Equip (SIC 3531)
Listed as: CNH (NYSE)
Fiscal year ends: December 31
Incorporated in: Netherlands
Headquarters: Basildon, Essex
SEC filer status: Large accelerated filer
SEC CIK: 1567094
Former names: FI CBM Holdings N.V. (until Sep 27, 2013)

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.