Dubai Electricity & Water Authority

Dubai Electricity & Water Authority PJSC

DEWAStocksDubai Financial MarketUtilities

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (AED)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operations
Operating Cash Flow	21.85B	17.44B	16.52B	14.23B	10.02B
Free Cash Flow	11.26B	8.17B	9.71B	5.60B	-2.25B
Capital Expenditures	-10.59B	-9.27B	-6.80B	-8.63B	-12.27B
Investing & Financing
Investing Cash Flow	-14.41B	-6.93B	-4.78B	-12.75B	-15.20B
Financing Cash Flow	-5.32B	-9.79B	-11.81B	-1.74B	4.85B
Dividends Paid	-6.20B	-6.20B	-7.87B	-13.10B	-2.00B
Operating Activities
Operating Cash Flow	21.85B	17.44B	16.52B	14.23B	10.02B
Net Income	8.35B	7.01B	7.70B	7.72B	6.12B
Change in Accounts Payable	5.34B	3.41B	2.40B	2.12B	0.84B
Change in Accounts Receivable	-0.28B	0.41B	0.79B	-0.51B	-1.06B
Change in Inventory	46.90M	-169.24M	35.66M	-8.43M	-64.37M
Change in Other Net Operating Assets	1.77B	-0.38B	-0.56B	-0.59B	-0.95B
Change in Working Capital	6.87B	3.26B	2.67B	1.02B	-1.24B
Other Operating Activities	-196.52M	658.98M	-351.33M	-180.16M	-194.15M
Depreciation & Amortization	6.61B	6.50B	6.06B	5.39B	5.23B
Other Amortization	353.93M	132.52M	95.47M	80.08M	80.72M
Gw Intang Amort CF Utility	16.76M	12.16M	12.16M	12.16M	0.40M
Depamor CF Utility	6.59B	6.48B	6.04B	5.37B	5.23B
Cash Interest Paid	2.21B	2.58B	2.38B	1.83B	1.08B
Cash Income Tax Paid	818.09M	—	—	—	—
Loss (Gain) on Equity Investments	—	—	—	—	-502.00K
Asset Writedown	-28.97M	-28.21M	231.09M	49.82M	-81.16M
Investing Activities
Investing Cash Flow	-14.41B	-6.93B	-4.78B	-12.75B	-15.20B
Capital Expenditures	-10.59B	-9.27B	-6.80B	-8.63B	-12.27B
Capital Expenditures	-10.59B	-9.27B	-6.80B	-8.63B	-12.27B
Cash Acquisitions	—	-0.16M	-892.50M	—	—
Investment in Securities	-5.00B	1.16B	2.20B	-4.40B	-2.70B
Other Investing Activities	1.20B	1.01B	0.73B	0.29B	0.14B
Sale (Purchase) of Intangibles	-13.60M	-7.21M	-21.44M	-8.63M	-381.75M
Sale of Property, Plant & Equipment	8.73M	167.46M	20.60M	4.24M	3.92M
Loss (Gain) on Sale of Assets	-1.82M	-4.68M	-0.40M	-0.31M	-0.18M
Loss (Gain) on Sale of Investments	-14.08M	3.87M	71.94M	9.77M	4.79M
Financing Activities
Financing Cash Flow	-5.32B	-9.79B	-11.81B	-1.74B	4.85B
Common Dividends Paid	-6.20B	-6.20B	-7.87B	-13.10B	-2.00B
Long-Term Debt Issued	19.60B	7.50B	2.37B	18.51B	8.55B
Long-Term Debt Repaid	-16.86B	-8.88B	-4.33B	-4.59B	-0.52B
Net Debt Issued (Repaid)	2.74B	-1.37B	-1.96B	13.92B	8.03B
Other Financing Activities	-1.87B	-2.21B	-1.98B	-0.52B	-1.17B
Free Cash Flow & Returns
Free Cash Flow	11.26B	8.17B	9.71B	5.60B	-2.25B
Free Cash Flow Growth	+37.9%	-15.9%	+73.4%	—	—
Free Cash Flow Margin	+34.3%	+26.4%	+33.3%	+20.5%	-9.4%
Free Cash Flow Per Share	0.23	0.16	0.19	0.11	-0.05
Levered Free Cash Flow	3.30B	5.35B	5.06B	1.68B	-0.38B
Unlevered Free Cash Flow	4.19B	6.62B	6.04B	2.08B	-0.14B
Operating Cash Flow Growth	+25.3%	+5.6%	+16.1%	+42.0%	+20.9%
Net Cash Flow	2.11B	0.72B	-0.06B	-0.25B	-0.33B

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (AED)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operations
Operating Cash Flow	21.85B	17.44B	16.52B	14.23B	10.02B
Free Cash Flow	11.26B	8.17B	9.71B	5.60B	-2.25B
Capital Expenditures	-10.59B	-9.27B	-6.80B	-8.63B	-12.27B
Investing & Financing
Investing Cash Flow	-14.41B	-6.93B	-4.78B	-12.75B	-15.20B
Financing Cash Flow	-5.32B	-9.79B	-11.81B	-1.74B	4.85B
Dividends Paid	-6.20B	-6.20B	-7.87B	-13.10B	-2.00B
Operating Activities
Operating Cash Flow	21.85B	17.44B	16.52B	14.23B	10.02B
Net Income	8.35B	7.01B	7.70B	7.72B	6.12B
Change in Accounts Payable	5.34B	3.41B	2.40B	2.12B	0.84B
Change in Accounts Receivable	-0.28B	0.41B	0.79B	-0.51B	-1.06B
Change in Inventory	46.90M	-169.24M	35.66M	-8.43M	-64.37M
Change in Other Net Operating Assets	1.77B	-0.38B	-0.56B	-0.59B	-0.95B
Change in Working Capital	6.87B	3.26B	2.67B	1.02B	-1.24B
Other Operating Activities	-196.52M	658.98M	-351.33M	-180.16M	-194.15M
Depreciation & Amortization	6.61B	6.50B	6.06B	5.39B	5.23B
Other Amortization	353.93M	132.52M	95.47M	80.08M	80.72M
Gw Intang Amort CF Utility	16.76M	12.16M	12.16M	12.16M	0.40M
Depamor CF Utility	6.59B	6.48B	6.04B	5.37B	5.23B
Cash Interest Paid	2.21B	2.58B	2.38B	1.83B	1.08B
Cash Income Tax Paid	818.09M	—	—	—	—
Loss (Gain) on Equity Investments	—	—	—	—	-502.00K
Asset Writedown	-28.97M	-28.21M	231.09M	49.82M	-81.16M
Investing Activities
Investing Cash Flow	-14.41B	-6.93B	-4.78B	-12.75B	-15.20B
Capital Expenditures	-10.59B	-9.27B	-6.80B	-8.63B	-12.27B
Capital Expenditures	-10.59B	-9.27B	-6.80B	-8.63B	-12.27B
Cash Acquisitions	—	-0.16M	-892.50M	—	—
Investment in Securities	-5.00B	1.16B	2.20B	-4.40B	-2.70B
Other Investing Activities	1.20B	1.01B	0.73B	0.29B	0.14B
Sale (Purchase) of Intangibles	-13.60M	-7.21M	-21.44M	-8.63M	-381.75M
Sale of Property, Plant & Equipment	8.73M	167.46M	20.60M	4.24M	3.92M
Loss (Gain) on Sale of Assets	-1.82M	-4.68M	-0.40M	-0.31M	-0.18M
Loss (Gain) on Sale of Investments	-14.08M	3.87M	71.94M	9.77M	4.79M
Financing Activities
Financing Cash Flow	-5.32B	-9.79B	-11.81B	-1.74B	4.85B
Common Dividends Paid	-6.20B	-6.20B	-7.87B	-13.10B	-2.00B
Long-Term Debt Issued	19.60B	7.50B	2.37B	18.51B	8.55B
Long-Term Debt Repaid	-16.86B	-8.88B	-4.33B	-4.59B	-0.52B
Net Debt Issued (Repaid)	2.74B	-1.37B	-1.96B	13.92B	8.03B
Other Financing Activities	-1.87B	-2.21B	-1.98B	-0.52B	-1.17B
Free Cash Flow & Returns
Free Cash Flow	11.26B	8.17B	9.71B	5.60B	-2.25B
Free Cash Flow Growth	+37.9%	-15.9%	+73.4%	—	—
Free Cash Flow Margin	+34.3%	+26.4%	+33.3%	+20.5%	-9.4%
Free Cash Flow Per Share	0.23	0.16	0.19	0.11	-0.05
Levered Free Cash Flow	3.30B	5.35B	5.06B	1.68B	-0.38B
Unlevered Free Cash Flow	4.19B	6.62B	6.04B	2.08B	-0.14B
Operating Cash Flow Growth	+25.3%	+5.6%	+16.1%	+42.0%	+20.9%
Net Cash Flow	2.11B	0.72B	-0.06B	-0.25B	-0.33B