Harmony Biosciences Holdings, Inc. logo HRMY - Harmony Biosciences Holdings, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 9
HOLD 2
SELL 2
STRONG
SELL
0
| PRICE TARGET: $46.80 DETAILS
HIGH: $62.00
LOW: $31.00
MEDIAN: $46.00
CONSENSUS: $46.80
UPSIDE: 55.22%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1
Revenue
Revenue 215.4 243.8 239.5 200.5 184.7 201.3 186.0 172.8 154.6 168.4 160.3 134.2 119.1 128.3 117.2 107.0 85.3 91.2 80.7 73.8 59.7 56.3 45.6 38.0 19.8 6.0 0 0 0
Cost of Revenue 44.5 68.5 59.6 38.2 32.0 54.4 42.8 32.1 27.5 43.2 32.3 25.0 20.8 26.9 23.0 18.9 14.7 17.8 14.6 12.7 10.4 9.9 7.9 6.5 3.5 1.6 0 0 0
Gross Profit 170.9 175.2 179.8 162.3 152.7 146.9 143.3 140.7 127.1 125.3 128.0 109.2 98.3 101.4 94.2 88.1 70.6 73.4 66.1 61.1 49.3 46.4 37.7 31.5 16.4 4.4 0 0 0
Operating Expenses
R&D Expenses 69.4 49.9 55.0 50.2 34.5 34.7 25.4 63.6 22.2 30.3 17.5 15.0 13.3 10.1 40.5 12.7 7.6 7.5 11.7 6.5 4.7 7.6 4.2 4.2 3.4 7.3 4.3 5.0 53.0
SG&A Expenses 64.2 86.7 59.4 64.0 62.0 56.5 56.2 55.7 52.9 54.8 46.0 47.3 44.6 43.7 41.8 42.3 35.5 37.3 33.3 31.3 30.1 31.0 23.1 20.1 22.5 30.8 25.5 14.3 10.2
Other Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Operating Expenses 133.6 136.7 114.3 114.2 96.5 91.1 81.5 119.3 75.1 85.1 63.5 62.3 57.9 53.8 82.3 55.0 43.0 44.8 45.1 37.8 34.7 38.6 27.3 24.2 26.0 38.1 29.8 19.3 63.1
Operating Income
Operating Income 37.3 38.6 65.5 48.2 56.2 55.7 61.7 21.4 52.0 40.2 64.5 46.9 40.4 47.6 11.9 33.1 27.6 28.6 21.1 23.3 14.5 7.8 10.4 7.3 (9.6) (33.7) (29.8) (19.3) (63.1)
Interest Expense 3.2 3.5 3.6 3.6 3.8 4.2 4.3 4.4 4.5 4.8 7.0 6.2 5.7 3.6 4.0 3.9 4.2 4.2 5.4 7.2 7.1 8.0 6.9 6.9 6.4 2.7 2.1 1.4 0
Interest Income 5.8 5.9 5.7 5.3 5.0 4.5 4.9 4.7 4.4 4.1 4.1 3.4 3.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.1
Profitability
EBITDA 48.9 51.7 73.5 59.2 67.0 66.3 72.5 32.1 62.4 61.2 65.0 56.4 49.6 53.8 18.0 39.2 32.8 7.3 (0.4) 28.0 19.2 12.1 12.3 9.3 (7.7) (31.7) (28.8) (19.1) (63.1)
EBIT 42.9 44.3 67.5 53.3 61.0 60.4 66.5 26.1 56.3 55.1 58.8 50.3 43.5 47.7 12.0 33.2 27.6 2.5 (5.1) 23.3 14.5 7.8 10.4 7.3 (9.6) (33.7) (29.8) (19.3) (63.1)
Income Before Tax 39.7 40.8 67.5 49.6 57.2 56.2 62.2 21.7 51.8 39.7 51.8 44.1 37.8 44.1 8.0 29.2 23.4 24.5 (10.5) 16.1 7.4 (0.2) 1.9 (0.0) (38.6) (36.4) (31.9) (20.6) (63.0)
Income Tax Expense 7.2 18.3 16.6 9.9 11.6 6.7 16.1 10.1 13.5 13.1 13.4 9.8 8.3 (4.4) (80.0) 5.7 1.9 1.8 (0.9) 2.0 0 0 0 0 0 0 0 0 0
Net Income 32.5 22.5 50.9 39.8 45.6 49.5 46.1 11.6 38.3 26.6 38.5 34.3 29.5 48.5 87.9 23.5 21.5 22.7 (9.6) 14.1 7.4 (0.2) 1.9 (0.0) (38.6) (36.4) (31.9) (20.6) (63.0)
Per Share Data
EPS (Basic) 0.56 0.39 0.88 0.69 0.80 0.87 0.81 0.20 0.68 0.46 0.64 0.57 0.49 0.82 1.48 0.40 0.36 0.39 -0.17 0.25 0.13 -0.00 -0.07 -0.16 -0.89 -0.85 -0.74 -0.56 -1.29
EPS (Diluted) 0.55 0.38 0.87 0.68 0.78 0.85 0.79 0.20 0.67 0.45 0.63 0.56 0.48 0.79 1.44 0.39 0.35 0.38 -0.17 0.24 0.13 -0.00 -0.07 -0.16 -0.89 -0.85 -0.74 -0.56 -1.29
Shares Outstanding 57.8 57.6 58.5 57.5 57.3 57.1 56.9 56.8 56.8 58.3 59.9 60.0 59.7 59.5 59.2 59.1 58.9 58.6 57.7 56.9 56.9 56.9 59.9 63.0 55.3 55.3 55.3 55.3 55.3
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q1
Current Assets
Cash & Cash Equivalents 589.4 752.5 647.0 546.0 489.0 453.0 387.4 317.3 333.0 311.7 324.6 317.4 288.0 243.8 261.3 236.5 224.5 234.3 189.7 159.7 141.2 228.6 221.7 76.3 71.5 24.5 (83.5)
Short-Term Investments 51.5 22.8 25.6 19.2 18.0 14.2 23.1 29.6 39.4 41.8 46.1 53.6 55.9 79.3 46.4 17.6 0 0 0 0 0 0 0 0 0 0 167.0
Net Receivables 108.2 96.8 100.7 93.0 106.0 83.0 81.5 83.2 79.7 74.1 67.3 63.8 52.6 54.7 55.1 49.8 38.1 34.8 33.2 31.2 23.6 22.2 16.3 15.2 11.3 4.3 0
Inventory 5.3 5.4 6.9 6.1 6.4 7.2 6.9 5.6 5.9 5.4 5.1 4.9 4.1 4.3 3.9 4.2 4.6 4.4 4.8 5.0 4.4 3.8 2.3 2.1 1.9 1.1 0
Other Current Assets 7.6 13.5 35.4 8.6 6.9 8.1 7.5 6.5 8.7 5.5 5.7 6.5 6.1 8.8 4.1 3.7 3.4 3.2 3.2 1.6 1.5 1.3 5.6 0.0 0.2 0.3 0
Total Current Assets 778.8 907.0 838.8 691.4 642.7 579.3 522.4 458.3 479.5 451.1 463.0 455.6 418.1 400.3 382.1 322.7 280.3 284.4 240.7 204.7 177.7 262.9 250.2 98.3 90.5 31.5 83.5
Non-Current Assets
Property, Plant & Equipment 5.4 5.3 2.7 2.7 3.1 3.4 3.1 3.3 3.3 2.7 2.9 2.6 0.5 0.6 0.7 0.7 0.7 4.1 0.9 0.9 0.8 0.9 1.0 1.1 1.2 1.3 0
Goodwill 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 83.5 89.4 95.4 101.3 107.3 113.3 119.2 125.2 131.1 137.1 143.1 149.0 155.0 161.0 166.9 172.9 178.8 143.9 148.6 153.1 157.8 162.3 66.6 68.5 70.4 72.2 0
Long-Term Investments 229.8 107.4 105.8 107.0 103.2 108.9 94.2 87.2 81.2 72.2 67.7 58.7 48.5 22.6 8.3 4.7 0.8 0 0 0.8 0.8 0 0 0 0 0 0
Other Non-Current Assets 20.8 12.8 165.5 205.7 199.2 194.4 189.2 184.4 151.8 148.4 101.1 94.2 3.6 3.5 3.8 4.0 4.2 1.0 0.9 0.9 0.9 0.9 2.2 0.9 1.0 1.7 (83.5)
Total Non-Current Assets 493.0 364.6 369.4 416.7 412.8 419.9 405.7 400.0 367.5 360.4 314.8 304.5 297.0 273.6 261.4 182.3 183.7 149.0 150.4 155.0 159.5 164.2 69.8 70.5 72.6 75.2 (83.5)
Total Assets 1,271.8 1,271.6 1,208.2 1,108.0 1,055.5 999.2 928.1 858.4 847.0 811.4 777.8 760.2 715.1 673.9 643.5 505.0 464.0 433.4 391.1 359.7 337.3 427.1 320.1 168.8 163.1 106.7 0
Current Liabilities
Account Payables 28.6 17.7 26.3 28.3 17.5 13.7 10.5 22.7 15.1 17.7 6.5 6.6 6.4 3.8 10.0 6.7 6.9 1.0 4.2 2.0 4.4 2.6 9.3 2.1 4.9 6.4 0
Short-Term Debt 63.2 86.9 20 18.8 17.5 16.2 15 15 15 15 15 11 6.5 2 2 2 2 2 2 0 0 0 0 0 0 0 0
Deferred Revenue 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Liabilities 118.8 129.1 15 2.2 18.7 4.4 11.3 5.8 23.3 6.4 6.1 2.2 9.9 1.6 1.4 11.5 3.3 0.0 0.4 28.5 4.8 100.3 0 0 0 0.8 0
Total Current Liabilities 217.3 252.1 223.4 180.1 175.1 175.1 161.3 146.6 154.3 163.8 112.4 93.0 85.4 78.9 107.4 65.8 56.5 53.8 47.6 36.6 33.4 134.5 31.8 21.1 16.5 19.9 0
Non-Current Liabilities
Long-Term Debt 138.8 148.2 148.5 153.3 158.2 163.0 167.8 171.4 175.0 178.6 182.1 180.5 185.1 189.6 189.7 189.8 189.9 190.0 190.1 195.6 194.9 194.2 192.9 192.5 192.2 97.9 0
Deferred Tax Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.2) 0 0 0 0 0 0
Other Non-Current Liabilities 0.8 (3.4) 0.8 1.0 1.1 1.1 1.3 0.9 1.1 1.0 1.0 1.0 1.6 2.5 2.5 2.9 3.1 0.8 1.4 0.9 1.0 1.1 0.9 4.6 0.6 0.5 0
Total Non-Current Liabilities 144.1 149.3 149.7 154.8 159.9 165.0 170.1 173.2 177.3 180.7 184.0 182.0 186.7 192.1 192.2 192.7 193.0 193.2 191.5 196.5 195.9 195.4 193.7 197.1 192.8 98.4 0
Total Liabilities 361.5 401.4 373.1 334.9 335.0 340.0 331.3 319.8 331.6 344.5 296.4 275.0 272.1 271.0 299.6 258.5 249.5 246.9 239.1 233.1 229.4 329.9 225.5 218.2 209.3 118.3 0
Stockholders' Equity
Common Stock 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 0
Retained Earnings 193.4 160.9 138.4 87.6 47.8 2.2 (47.3) (93.4) (104.9) (143.3) (169.9) (208.3) (242.6) (272.1) (320.6) (408.6) (432.1) (453.6) (476.3) (466.7) (480.8) (488.2) (488.0) (483.4) (472.3) (422.9) 0
Accumulated Other Comprehensive Income (0.4) 0.3 0.4 0.2 0.2 0.1 0.5 (0.2) (0.2) 0.0 (0.5) (0.5) (0.0) (0.2) (0.2) (0.0) 0 0 0 0 0 0 0 (438.0) 0 0 (242.7)
Total Stockholders' Equity 910.3 870.2 835.1 773.1 720.5 659.2 596.8 538.6 515.4 467.0 481.3 485.2 443.0 402.8 343.9 246.5 214.5 186.5 152.0 126.6 107.9 97.2 94.5 (49.4) (46.2) (11.6) 81.5
Total Liabilities & Equity 1,271.8 1,271.6 1,208.2 1,108.0 1,055.5 999.2 928.1 858.4 847.0 811.4 777.8 760.2 715.1 673.9 643.5 505.0 464.0 433.4 391.1 359.7 337.3 427.1 320.1 168.8 163.1 106.7 81.5
Debt Metrics
Total Debt 206.5 239.6 169.7 173.4 177.5 181.4 185.2 189.1 193.1 196.1 199.7 193.7 191.6 191.6 191.7 191.8 191.9 195.7 192.1 195.6 194.9 194.2 192.9 192.5 192.2 97.9 0
Net Debt (382.9) (512.9) (477.3) (372.7) (311.5) (271.6) (202.1) (128.2) (139.9) (115.6) (124.9) (123.7) (96.4) (52.1) (69.6) (44.7) (32.6) (38.6) 2.4 35.9 53.7 (34.4) (28.9) 116.2 120.7 73.5 83.5
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1
Operating Activities
Net Income 32.5 22.5 50.9 39.8 45.6 49.5 46.1 11.6 38.3 26.6 38.5 34.3 29.5 48.5 87.9 23.5 21.5 22.7 (9.6) 14.1 7.4 (0.2) 1.9 (0.0) (38.6) (36.4) (31.9) (20.6) (63.0)
Depreciation & Amortization 6.0 7.4 6.1 6.0 6.1 6.0 6.1 6.2 6.3 6.1 7.4 6.5 6.5 6.5 6.5 6.5 5.6 5.2 5.1 5.4 5.3 5.8 2.3 2.3 1.9 2.2 1.1 0.1 0.1
Stock-Based Compensation 0 10.2 10.8 11.5 12.4 10.1 11.4 11.0 10.4 8.9 8.0 7.8 6.6 7.7 7.0 7.4 4.9 4.4 4.7 3.8 3.3 2.9 1.3 0.5 0.4 8.8 0.4 0.4 0.3
Change in Working Capital (49.6) 74.0 32.1 13.5 (29.6) 15.8 23.9 (20.7) (17.7) 31.6 6.8 (7.2) 1.1 (25.5) 31.8 (3.8) (9.4) 9.4 1.0 (2.7) (5.5) 6.3 (5.5) 4.4 (14.6) 1.0 5.9 2.0 1.9
Other Non-Cash Items 42.8 (2.6) 8.8 15.1 (0.6) 0.9 (17.0) 34.5 (6.2) 2.3 2.6 (4.3) (1.1) (10.5) (78.0) 0.1 6.3 (4.1) 29.2 (2.6) 2.1 (4.8) 8.8 (2.3) 0.4 0.5 1.1 0.7 50.1
Operating Cash Flow 27.8 126.2 108.7 79.3 34.0 75.6 70.5 42.6 31.1 76.7 63.1 37.1 42.6 26.7 55.2 33.7 28.9 37.5 30.4 18.1 12.5 10.0 8.8 4.8 (26.7) (24.0) (23.5) (17.4) (10.6)
Investing Activities
Capital Expenditure 0 (0.1) (0.1) (0.0) (0.1) (0.5) (0.0) (0.6) (0.0) (0.1) 0 (0.2) 0 0 (0.1) (0.0) (0.0) 0 (0.1) (0.2) (0.0) 0 0 (0.0) 0 (0.0) (0.0) (0.1) (50.0)
Acquisitions 0 0 0 0 0 0 0 (33.1) 0 (44.5) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Purchases of Investments (179.0) (18.8) 0 (23.9) 0 (35.7) 0 0 0 (21.6) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Sales/Maturities of Investments 27.3 20.6 0 19.3 0 30.0 0 0 0 22.6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Investing Activities (32) 0 (4.7) (15) 2.5 (1) 0.7 (21.2) (6.2) 7.6 (0.8) (7.6) (1.8) (46.9) (32.4) (22.4) (40) 0 0 0 (100) (2) 0 0 0 (77) 0 0 (50)
Investing Cash Flow (183.6) (17.6) (4.8) (19.6) 2.4 (7.2) 0.7 (54.9) (6.2) (36.1) (0.8) (7.8) (1.8) (46.9) (32.4) (22.4) (40.0) 0 (0.1) (0.2) (100.0) (2) 0 (0.0) 0 (77.0) (0.0) (0.1) (50.0)
Financing Activities
Net Debt Issuance (5) (5) (3.8) (3.8) (3.8) (3.8) (3.8) (3.8) (3.8) (3.8) (196.5) (0.5) (0.5) (0.5) (0.5) (0.5) (0.5) (0.5) 0 0 0 0 0 0 79.4 25 0 55 20
Stock Repurchased 0 0 0 0 (1.3) 0 0 (0.3) 0 (50) (50) (0.5) 0 0 0 0 0 0 0 0 0 0 (0.0) (0.2) 0 0 0 0 0
Dividends Paid 0 0 0 0 0 0 0 0 0 (55.3) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities (2.6) (0.7) 0 (1.0) 4.7 1.0 2.6 0.6 0.1 55.5 191.4 0.7 3.9 3.2 2.5 1.2 1.9 7.6 (0.3) 0.6 0.0 (1.2) 136.6 0.1 (5.7) (0.8) 48.9 (2.5) (1.8)
Financing Cash Flow (7.2) (3.0) (3.0) (2.7) (0.4) (2.7) (1.2) (3.4) (3.6) (53.5) (55.1) (0.3) 3.4 2.7 2.0 0.8 1.4 7.1 (0.3) 0.6 0.0 (1.2) 136.6 (0.1) 73.8 24.2 48.9 52.5 18.2
Cash Position
Net Change in Cash (163.1) 105.5 100.9 57.1 36.0 65.6 70.1 (15.7) 21.3 (12.9) 7.2 29.0 44.2 (17.6) 24.8 12.0 (9.8) 44.6 30.0 18.5 (87.5) 6.9 145.5 4.8 47.1 (76.8) 25.4 35.0 (42.4)
Cash at Beginning 752.5 647.3 546.3 489.3 453.3 387.6 317.6 333.3 311.9 324.9 317.7 288.7 244.5 262.1 237.3 225.2 235.1 190.5 160.4 141.9 229.4 222.5 77.0 72.3 25.2 102.0 76.6 41.6 84.0
Cash at End 589.4 752.5 647.3 546.3 489.3 453.3 387.6 317.6 333.3 311.9 324.9 317.7 288.7 244.5 262.1 237.3 225.2 235.1 190.5 160.4 141.9 229.4 222.5 77.0 72.3 25.2 102.0 76.6 41.6
Free Cash Flow 27.8 126.0 108.7 79.3 33.9 75.0 70.5 42.0 31.1 76.6 63.1 36.9 42.6 26.7 55.1 33.7 28.8 37.5 30.3 17.9 12.5 10.0 8.8 4.8 (26.7) (24.0) (23.5) (17.5) (60.6)
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1
Income Statement
Revenue 215.4 243.8 239.5 200.5 184.7 201.3 186.0 172.8 154.6 168.4 160.3 134.2 119.1 128.3 117.2 107.0 85.3 91.2 80.7 73.8 59.7 56.3 45.6 38.0 19.8 6.0 0 0 0
Gross Profit 170.9 175.2 179.8 162.3 152.7 146.9 143.3 140.7 127.1 125.3 128.0 109.2 98.3 101.4 94.2 88.1 70.6 73.4 66.1 61.1 49.3 46.4 37.7 31.5 16.4 4.4 0 0 0
Operating Income 37.3 38.6 65.5 48.2 56.2 55.7 61.7 21.4 52.0 40.2 64.5 46.9 40.4 47.6 11.9 33.1 27.6 28.6 21.1 23.3 14.5 7.8 10.4 7.3 (9.6) (33.7) (29.8) (19.3) (63.1)
Net Income 32.5 22.5 50.9 39.8 45.6 49.5 46.1 11.6 38.3 26.6 38.5 34.3 29.5 48.5 87.9 23.5 21.5 22.7 (9.6) 14.1 7.4 (0.2) 1.9 (0.0) (38.6) (36.4) (31.9) (20.6) (63.0)
EPS (Diluted) 0.55 0.38 0.87 0.68 0.78 0.85 0.79 0.20 0.67 0.45 0.63 0.56 0.48 0.79 1.44 0.39 0.35 0.38 -0.17 0.24 0.13 -0.00 -0.07 -0.16 -0.89 -0.85 -0.74 -0.56 -1.29
Balance Sheet
Cash & Equivalents 589.4 752.5 647.0 546.0 489.0 453.0 387.4 317.3 333.0 311.7 324.6 317.4 288.0 243.8 261.3 236.5 224.5 234.3 189.7 159.7 141.2 228.6 221.7 76.3 71.5 24.5 (83.5)
Total Assets 1,271.8 1,271.6 1,208.2 1,108.0 1,055.5 999.2 928.1 858.4 847.0 811.4 777.8 760.2 715.1 673.9 643.5 505.0 464.0 433.4 391.1 359.7 337.3 427.1 320.1 168.8 163.1 106.7 0
Total Debt 206.5 239.6 169.7 173.4 177.5 181.4 185.2 189.1 193.1 196.1 199.7 193.7 191.6 191.6 191.7 191.8 191.9 195.7 192.1 195.6 194.9 194.2 192.9 192.5 192.2 97.9 0
Stockholders' Equity 910.3 870.2 835.1 773.1 720.5 659.2 596.8 538.6 515.4 467.0 481.3 485.2 443.0 402.8 343.9 246.5 214.5 186.5 152.0 126.6 107.9 97.2 94.5 (49.4) (46.2) (11.6) 81.5
Cash Flow
Operating Cash Flow 27.8 126.2 108.7 79.3 34.0 75.6 70.5 42.6 31.1 76.7 63.1 37.1 42.6 26.7 55.2 33.7 28.9 37.5 30.4 18.1 12.5 10.0 8.8 4.8 (26.7) (24.0) (23.5) (17.4) (10.6)
Capital Expenditure 0 (0.1) (0.1) (0.0) (0.1) (0.5) (0.0) (0.6) (0.0) (0.1) 0 (0.2) 0 0 (0.1) (0.0) (0.0) 0 (0.1) (0.2) (0.0) 0 0 (0.0) 0 (0.0) (0.0) (0.1) (50.0)
Free Cash Flow 27.8 126.0 108.7 79.3 33.9 75.0 70.5 42.0 31.1 76.6 63.1 36.9 42.6 26.7 55.1 33.7 28.8 37.5 30.3 17.9 12.5 10.0 8.8 4.8 (26.7) (24.0) (23.5) (17.5) (60.6)