Vertical Aerospace (EVTL) Cash Flow: Operating & Free Cash Flow

Vertical Aerospace Cash Flow Statement Analysis

Values in millions GBP

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Vertical Aerospace Ltd. (EVTL) - Annual data in millions GBP
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2022	FY 2021	FY 2021	FY 2020	FY 2019
Period ending	Dec 2025	Dec 2024	Dec 2023	Jan 2023	Dec 2022	Mar 2022	Dec 2021	Dec 2020	Dec 2019
Operating Activities
Net Income	232.93	-781.24	-59.95	-94.38	-94.38	-245.22	-245.22	-12.33	-7.48
Depreciation & Amortization	1.96	2.70	2.71	2.18	2.18	0.94	0.94	0.68	0.33
Deferred Income Tax	-30.34	0.05	-22.66	-	0.00	0.00	-	0.00	-0.03
Stock Based Compensation	9.67	7.49	8.82	23.19	23.19	101.61	101.61	0.10	0.00
Change in Working Capital	19.36	-10.35	4.40	-33.01	-33.01	-9.13	34.68	-1.28	-0.17
Change in Accounts Receivable	5.47	-7.77	3.79	-6.21	-6.21	-9.13	-9.13	-2.06	-0.85
Change in Accounts Payable	13.88	-2.58	0.61	-26.80	0.00	0.00	43.80	0.79	0.00
Change in Other Working Capital	-330.03	719.23	-19.34	-	-26.80	0.00	-32.02	0.79	0.68
Other Operating Activities	-360.37	719.23	-19.34	-1.70	-1.70	113.91	-31.16	0.81	0.07
Net Cash from Operating Activities	-82.76	-46.29	-74.70	-103.71	-103.71	-37.89	-27.55	-12.01	-7.28
Investing Activities
Capital Expenditures	-0.29	-0.43	-2.26	-1.44	-2.01	-1.09	-0.79	-0.16	-2.10
Acquisitions	0.00	0.00	0.00	-	0.00	0.00	-	-0.30	-0.73
Purchases of Investments	0.00	0.00	0.00	-59.25	0.00	0.00	-	0.00	0.00
Sales/Maturities of Investments	0.00	0.00	59.67	-0.57	0.00	0.00	-2.57	-0.23	0.00
Other Investing Activities	2.90	2.16	3.81	-1.70	-61.52	0.00	0.00	-0.23	-0.58
Net Cash from Investing Activities	2.61	1.73	61.38	-62.96	-62.96	-4.61	-3.35	-0.69	-2.83
Financing Activities
Debt Repayment	-1.04	-0.77	-0.67	-0.48	-0.48	232.69	-0.74	-0.22	-0.13
Common Stock Issued	111.51	15.63	0.84	7.73	7.73	67.26	71.04	0.00	0.00
Other Financing Activities	10.43	3.14	0.00	-0.48	0.00	36.61	75.76	7.13	11.00
Net Cash from Financing Activities	127.82	18.77	0.17	7.25	7.25	336.55	244.71	12.51	10.87
Summary
Effect of Forex Changes on Cash	-1.13	-0.33	-1.10	9.69	9.69	-7.16	-1.99	0.00	0.00
Net Change in Cash	46.53	-25.79	-13.15	-149.73	-149.73	286.89	211.82	-0.19	0.76
Cash at Beginning of Period	22.56	48.68	62.93	-	212.66	1.15	0.84	1.03	0.27
Cash at End of Period	69.08	22.56	48.68	-	62.93	288.04	212.66	0.84	1.03
Free Cash Flow	-83.05	-46.72	-76.96	-105.15	-105.72	-38.98	-28.34	-12.17	-9.39
Supplemental Disclosures
Income Taxes Paid	-	-15.84	-11.32	-	-	-	-	-	-

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

Frequently Asked Questions About Vertical Aerospace Cash Flow

What is Vertical Aerospace's free cash flow?

Vertical Aerospace had negative free cash flow of GBP 83.05M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of −GBP 82.76M minus GBP 290.00K of capital expenditures.

How much does Vertical Aerospace spend on capital expenditures?

Vertical Aerospace spent GBP 290.00K on capital expenditures in fiscal 2025, compared with GBP 428.00K a year earlier.

Does Vertical Aerospace pay dividends or buy back shares?

Vertical Aerospace'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