BVMF:BBSE3 Cash Flow Statement

Financials in millions BRL. Fiscal year is January - December.

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2015 - 2019
Net Income	9,000	8,703	7,947	6,196	3,933	3,851	Upgrade
Depreciation & Amortization	-0.3	0.36	1.3	1.29	1.07	1.01	Upgrade
Other Amortization	1.61	0.9	-	-	-	-	Upgrade
Loss (Gain) From Sale of Investments	-229.23	-172.64	-150.06	-3.2	-6.31	-	Upgrade
Loss (Gain) on Equity Investments	-5,294	-5,312	-4,890	-3,516	-1,830	-1,880	Upgrade
Other Operating Activities	1,747	1,606	93.77	24.83	0.98	7.64	Upgrade
Change in Accounts Receivable	-195.75	-499.44	-351.73	-98.65	92.49	-476.76	Upgrade
Change in Unearned Revenue	509.24	1,331	1,140	580.99	422.42	324.6	Upgrade
Change in Income Taxes	-1,644	-1,406	-65.13	218.16	90.29	-15.65	Upgrade
Change in Other Net Operating Assets	29.29	-20.36	-24.25	-125.16	130.98	18.42	Upgrade
Operating Cash Flow	3,921	4,224	3,698	3,275	2,826	2,285	Upgrade
Operating Cash Flow Growth	-2.23%	14.22%	12.91%	15.90%	23.68%	155.47%	Upgrade
Capital Expenditures	-0.09	-0.11	-0.41	-	-0.29	-0.36	Upgrade
Sale of Property, Plant & Equipment	-	-	-	0.08	-	-	Upgrade
Investment in Securities	0.04	-	-1,086	-347.65	-60.77	-832.11	Upgrade
Other Investing Activities	4,974	5,174	3,650	2,984	1,121	1,624	Upgrade
Investing Cash Flow	4,974	5,174	2,564	2,637	1,060	792.02	Upgrade
Repurchase of Common Stock	-	-1,167	-624.28	-	-	-2,700	Upgrade
Common Dividends Paid	-8,274	-5,193	-6,961	-3,926	-1,991	-5,563	Upgrade
Financing Cash Flow	-8,274	-6,360	-7,585	-3,926	-1,991	-8,263	Upgrade
Net Cash Flow	621.46	3,037	-1,324	1,986	1,895	-5,186	Upgrade
Free Cash Flow	3,921	4,223	3,697	3,275	2,825	2,284	Upgrade
Free Cash Flow Growth	-2.22%	14.23%	12.90%	15.91%	23.69%	155.71%	Upgrade
Free Cash Flow Margin	37.95%	41.49%	39.69%	42.77%	53.05%	44.51%	Upgrade
Free Cash Flow Per Share	2.02	2.16	1.85	1.64	1.42	1.14	Upgrade
Cash Income Tax Paid	975.94	975.94	934.78	793.45	698.97	666.36	Upgrade
Levered Free Cash Flow	6,301	8,698	4,510	6,914	4,389	-2,535	Upgrade
Unlevered Free Cash Flow	6,302	8,699	4,511	6,915	4,389	-2,535	Upgrade
Change in Working Capital	-1,303	-602.18	696.08	571.29	727.15	305.76	Upgrade

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.