Alvotech (ALVO) Cash Flow: Operating & Free Cash Flow

Alvotech Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

Scale:

Scroll to see more

Cash flow statement showing operating, investing, and financing activities for Alvotech (ALVO) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Operating Activities
Net Income	27.92	-231.86	-551.73	-513.58	-101.50	-170.04
Depreciation & Amortization	37.85	31.30	24.21	20.41	18.20	16.42
Deferred Income Tax	108.43	14.30	-99.32	-38.07	-47.69	-121.73
Stock Based Compensation	7.38	7.63	18.03	15.81	0.00	18.05
Change in Working Capital	-117.64	-288.64	26.33	-47.89	-6.81	32.52
Change in Accounts Receivable	-6.33	-164.24	-24.83	-4.01	-13.53	10.10
Change in Inventory	-90.13	-49.97	-11.30	-32.41	-29.41	-3.26
Change in Accounts Payable	45.31	-13.70	31.77	16.44	14.32	0.23
Change in Other Working Capital	-67.01	292.40	262.41	-61.56	21.81	1.43
Other Operating Activities	-67.01	292.40	262.41	248.50	-90.36	21.85
Net Cash from Operating Activities	-50.20	-236.84	-312.19	-312.39	-228.17	-74.30
Investing Activities
Capital Expenditures	-96.13	-57.00	-46.47	-37.88	-40.63	-7.49
Acquisitions	-14.04	12.00	0.00	0.00	0.00	-5.00
Purchases of Investments	-31.66	0.00	0.00	0.00	0.00	0.00
Sales/Maturities of Investments	5.95	0.00	0.00	-11.12	0.00	-4.50
Other Investing Activities	0.00	22.79	-13.11	-14.91	-20.17	-5.00
Net Cash from Investing Activities	-104.22	-18.87	-46.34	-63.54	-40.63	-16.90
Financing Activities
Debt Repayment	-35.79	-768.78	-107.64	-84.71	68.98	21.02
Common Stock Issued	82.48	150.45	136.88	184.76	185.86	34.39
Other Financing Activities	-9.34	-10.05	-13.15	-7.84	0.00	0.00
Net Cash from Financing Activities	270.83	297.31	301.32	424.91	254.83	55.40
Summary
Effect of Forex Changes on Cash	4.51	-1.32	1.94	-0.11	-0.16	0.08
Net Change in Cash	116.42	41.60	-57.21	48.87	-14.13	-35.71
Cash at Beginning of Period	51.43	11.16	66.43	17.56	31.69	67.40
Cash at End of Period	172.36	51.43	11.16	66.43	17.56	31.69
Free Cash Flow	-146.33	-293.84	-358.66	-350.27	-268.80	-81.78
Supplemental Disclosures
Interest Paid	58.95	54.92	57.25	35.37	28.00	5.66
Income Taxes Paid	0.78	2.04	1.35	0.83	0.16	0.44

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Alvotech Cash Flow

What is Alvotech's free cash flow?

Alvotech had negative free cash flow of $146.33M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of −$50.20M minus $96.13M of capital expenditures.

How much does Alvotech spend on capital expenditures?

Alvotech spent $96.13M on capital expenditures in fiscal 2025, compared with $57.00M a year earlier.

Does Alvotech pay dividends or buy back shares?

Alvotech's cash flow statement for fiscal 2025 shows no dividend payments or share repurchases.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition