Companies in Luxembourg with the highest operating cash flow
Operating cash flow is the cash the business itself produced over the year, before anything is spent on new assets or paid out to lenders and shareholders. It strips out the non-cash charges that separate profit from cash. Figures are for fiscal year 2025 and are read directly from each company's SEC filings; the source column on every row links to the document.
Arcelormittal (MT) tops the list with $4.8B in operating cash flow for fiscal 2025, ahead of Spotify Technology ($3.3B) and Tenaris ($2.6B). The top 10 together report $17.4B in operating cash flow; the gap between #1 and #10 is ×15.45. 11 companies in Luxembourg report operating cash flow, 0.4% of the 2517-filer universe. The last place on the list, Globant, comes in at $301M.
| # | Company | Operating cash flow | YoY | 15-year trend |
|---|---|---|---|---|
| 1 | ArcelormittalMTLUMaterials | $4.8B | −0.9% | |
| 2 | Spotify TechnologySPOTLUCommunication services | $3.3B | +33.1% | |
| 3 | TenarisTSLUMaterials | $2.6B | −9.3% | |
| 4 | TerniumTXLUMaterials | $2.3B | +21.4% | |
| 5 | Millicom International CellularTIGOLUCommunication services | $1.7B | +8.2% | |
| 6 | SESSGBAFLUCommunication services | $1.0B | −5.8% | |
| 7 | Corporacion America AirportsCAAPLUIndustrials | $465M | +14.8% | |
| 8 | Ardagh Metal PackagingAMBPLUIndustrials | $449M | −0.2% | |
| 9 | Nexa ResourcesNEXALUMaterials | $365M | +3.9% | |
| 10 | CriteoCRTOLUCommunication services | $311M | +20.6% | |
| 11 | GlobantGLOBLUTechnology | $301M | +21.1% |
All figures from SEC filings · FY2025 · 11
see sources
- Arcelormittal 0001243429-26-000020
- Spotify Technology 0001628280-26-006874
- Tenaris 0001554855-26-000490
- Ternium 0001342874-26-000020
- Millicom International Cellular 0001628280-26-020831
- SES 0001193125-26-138166
- Corporacion America Airports 0001104659-26-029442
- Ardagh Metal Packaging 0001104659-26-024068
- Nexa Resources 0001292814-26-001787
- Criteo 0001576427-26-000014
- Globant 0001628280-26-012910
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<p style="max-width:680px;font:13px system-ui,sans-serif">Source: <a href="https://companiesranked.com/en/companies-with-the-highest-operating-cash-flow-in-luxembourg">Companies in Luxembourg with the highest operating cash flow</a> — CompaniesRanked, compiled from SEC EDGAR filings</p>Cite this page
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CompaniesRanked. (September 25, 2026). Companies in Luxembourg with the highest operating cash flow. CompaniesRanked. https://companiesranked.com/en/companies-with-the-highest-operating-cash-flow-in-luxembourgBibTeX
@misc{companiesranked-en-companies-with-the-highest-operating-cash-flow-in-luxembourg-2026,
author = {{CompaniesRanked}},
title = {{Companies in Luxembourg with the highest operating cash flow}},
year = {2026},
howpublished = {\url{https://companiesranked.com/en/companies-with-the-highest-operating-cash-flow-in-luxembourg}},
note = {Compiled from SEC EDGAR XBRL filings; data as of 2026-09-25},
urldate = {2026-09-25}
}The figures are rebuilt with every data refresh, so the reference carries the publication date. Add your own access date if your style requires one.
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