Dubai Electricity & Water Authority

Dubai Electricity & Water Authority PJSC

DEWAStocksDubai Financial MarketUtilities

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Quarterly (AED)

1-5

	Q4 2025Dec 31, 2025	Q3 2025Sep 30, 2025	Q2 2025Jun 30, 2025	Q1 2025Mar 31, 2025	Q4 2024Dec 31, 2024
Operations
Operating Cash Flow	6.63B	6.06B	5.31B	3.85B	5.83B
Free Cash Flow	3.19B	3.26B	3.03B	1.78B	3.60B
Capital Expenditures	-3.44B	-2.79B	-2.28B	-2.07B	-2.23B
Investing & Financing
Investing Cash Flow	-5.36B	-3.81B	-3.19B	-2.07B	-2.00B
Financing Cash Flow	-2.33B	-0.00B	-3.02B	0.03B	-4.47B
Dividends Paid	-3.10B	—	-3.10B	—	-3.10B
Operating Activities
Operating Cash Flow	6.63B	6.06B	5.31B	3.85B	5.83B
Net Income	1.98B	3.61B	2.26B	0.50B	1.65B
Change in Accounts Payable	0.59B	1.44B	2.36B	0.94B	1.24B
Change in Accounts Receivable	1.54B	-0.35B	-1.56B	0.09B	1.70B
Change in Inventory	-68.26M	22.26M	104.28M	-11.37M	-95.33M
Change in Other Net Operating Assets	1.05B	-0.10B	0.14B	0.68B	-0.30B
Change in Working Capital	3.11B	1.01B	1.05B	1.70B	2.54B
Other Operating Activities	-293.14M	-252.10M	303.57M	45.15M	299.78M
Depreciation & Amortization	1.70B	1.70B	1.62B	1.59B	1.57B
Other Amortization	244.04M	31.48M	46.28M	32.12M	121.79M
Gw Intang Amort CF Utility	7.64M	3.04M	2.97M	3.11M	-48.07M
Depamor CF Utility	1.69B	1.70B	1.61B	1.59B	1.62B
Cash Interest Paid	704.07M	505.35M	501.20M	495.00M	566.09M
Cash Income Tax Paid	—	818.09M	—	—	—
Loss (Gain) on Equity Investments	—	—	—	—	—
Asset Writedown	-40.29M	3.13M	7.33M	0.87M	-297.85M
Investing Activities
Investing Cash Flow	-5.36B	-3.81B	-3.19B	-2.07B	-2.00B
Capital Expenditures	-3.44B	-2.79B	-2.28B	-2.07B	-2.23B
Capital Expenditures	-3.44B	-2.79B	-2.28B	-2.07B	-2.23B
Cash Acquisitions	—	—	—	—	—
Investment in Securities	-2.54B	-1.22B	-1.08B	-0.16B	-0.16B
Other Investing Activities	620.96M	207.82M	177.03M	195.48M	228.61M
Sale (Purchase) of Intangibles	-1.01M	-1.79M	-5.91M	-4.89M	-2.76M
Sale of Property, Plant & Equipment	4.99M	2.28M	1.04M	0.42M	163.29M
Loss (Gain) on Sale of Assets	-0.35M	-0.56M	-0.89M	-0.02M	-3.60M
Loss (Gain) on Sale of Investments	-14.08M	—	—	—	3.87M
Financing Activities
Financing Cash Flow	-2.33B	-0.00B	-3.02B	0.03B	-4.47B
Common Dividends Paid	-3.10B	—	-3.10B	—	-3.10B
Long-Term Debt Issued	—	—	—	4.51B	—
Total Debt Issued	11.26B	1.79B	2.05B	4.51B	1.76B
Long-Term Debt Repaid	—	—	—	-3.99B	—
Total Debt Repaid	-10.38B	-1.22B	-1.28B	-3.99B	-2.37B
Net Debt Issued (Repaid)	0.88B	0.57B	0.78B	0.52B	-0.61B
Other Financing Activities	-0.10B	-0.57B	-0.70B	-0.49B	-0.76B
Free Cash Flow & Returns
Free Cash Flow	3.19B	3.26B	3.03B	1.78B	3.60B
Free Cash Flow Growth	-11.5%	+5.0%	+260.4%	+187.9%	-16.4%
Free Cash Flow Margin	+40.2%	+31.6%	+35.1%	+29.8%	+48.4%
Free Cash Flow Per Share	0.06	0.07	0.06	0.04	0.07
Levered Free Cash Flow	-2.58B	4.99B	-2.57B	3.06B	-0.30B
Unlevered Free Cash Flow	-2.43B	5.23B	-2.31B	3.31B	0.03B
Operating Cash Flow Growth	+13.7%	+2.3%	+120.1%	+17.9%	-12.6%
Net Cash Flow	-1.05B	2.25B	-0.90B	1.81B	-0.64B

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Quarterly (AED)

1-5

	Q4 2025Dec 31, 2025	Q3 2025Sep 30, 2025	Q2 2025Jun 30, 2025	Q1 2025Mar 31, 2025	Q4 2024Dec 31, 2024
Operations
Operating Cash Flow	6.63B	6.06B	5.31B	3.85B	5.83B
Free Cash Flow	3.19B	3.26B	3.03B	1.78B	3.60B
Capital Expenditures	-3.44B	-2.79B	-2.28B	-2.07B	-2.23B
Investing & Financing
Investing Cash Flow	-5.36B	-3.81B	-3.19B	-2.07B	-2.00B
Financing Cash Flow	-2.33B	-0.00B	-3.02B	0.03B	-4.47B
Dividends Paid	-3.10B	—	-3.10B	—	-3.10B
Operating Activities
Operating Cash Flow	6.63B	6.06B	5.31B	3.85B	5.83B
Net Income	1.98B	3.61B	2.26B	0.50B	1.65B
Change in Accounts Payable	0.59B	1.44B	2.36B	0.94B	1.24B
Change in Accounts Receivable	1.54B	-0.35B	-1.56B	0.09B	1.70B
Change in Inventory	-68.26M	22.26M	104.28M	-11.37M	-95.33M
Change in Other Net Operating Assets	1.05B	-0.10B	0.14B	0.68B	-0.30B
Change in Working Capital	3.11B	1.01B	1.05B	1.70B	2.54B
Other Operating Activities	-293.14M	-252.10M	303.57M	45.15M	299.78M
Depreciation & Amortization	1.70B	1.70B	1.62B	1.59B	1.57B
Other Amortization	244.04M	31.48M	46.28M	32.12M	121.79M
Gw Intang Amort CF Utility	7.64M	3.04M	2.97M	3.11M	-48.07M
Depamor CF Utility	1.69B	1.70B	1.61B	1.59B	1.62B
Cash Interest Paid	704.07M	505.35M	501.20M	495.00M	566.09M
Cash Income Tax Paid	—	818.09M	—	—	—
Loss (Gain) on Equity Investments	—	—	—	—	—
Asset Writedown	-40.29M	3.13M	7.33M	0.87M	-297.85M
Investing Activities
Investing Cash Flow	-5.36B	-3.81B	-3.19B	-2.07B	-2.00B
Capital Expenditures	-3.44B	-2.79B	-2.28B	-2.07B	-2.23B
Capital Expenditures	-3.44B	-2.79B	-2.28B	-2.07B	-2.23B
Cash Acquisitions	—	—	—	—	—
Investment in Securities	-2.54B	-1.22B	-1.08B	-0.16B	-0.16B
Other Investing Activities	620.96M	207.82M	177.03M	195.48M	228.61M
Sale (Purchase) of Intangibles	-1.01M	-1.79M	-5.91M	-4.89M	-2.76M
Sale of Property, Plant & Equipment	4.99M	2.28M	1.04M	0.42M	163.29M
Loss (Gain) on Sale of Assets	-0.35M	-0.56M	-0.89M	-0.02M	-3.60M
Loss (Gain) on Sale of Investments	-14.08M	—	—	—	3.87M
Financing Activities
Financing Cash Flow	-2.33B	-0.00B	-3.02B	0.03B	-4.47B
Common Dividends Paid	-3.10B	—	-3.10B	—	-3.10B
Long-Term Debt Issued	—	—	—	4.51B	—
Total Debt Issued	11.26B	1.79B	2.05B	4.51B	1.76B
Long-Term Debt Repaid	—	—	—	-3.99B	—
Total Debt Repaid	-10.38B	-1.22B	-1.28B	-3.99B	-2.37B
Net Debt Issued (Repaid)	0.88B	0.57B	0.78B	0.52B	-0.61B
Other Financing Activities	-0.10B	-0.57B	-0.70B	-0.49B	-0.76B
Free Cash Flow & Returns
Free Cash Flow	3.19B	3.26B	3.03B	1.78B	3.60B
Free Cash Flow Growth	-11.5%	+5.0%	+260.4%	+187.9%	-16.4%
Free Cash Flow Margin	+40.2%	+31.6%	+35.1%	+29.8%	+48.4%
Free Cash Flow Per Share	0.06	0.07	0.06	0.04	0.07
Levered Free Cash Flow	-2.58B	4.99B	-2.57B	3.06B	-0.30B
Unlevered Free Cash Flow	-2.43B	5.23B	-2.31B	3.31B	0.03B
Operating Cash Flow Growth	+13.7%	+2.3%	+120.1%	+17.9%	-12.6%
Net Cash Flow	-1.05B	2.25B	-0.90B	1.81B	-0.64B