Banco BTG Pactual Cash Flow Statement

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

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	17,308	15,947	11,789	9,925	7,842	6,342
Depreciation & Amortization	1,151	1,142	1,128	990.46	833.67	113.47
Gain (Loss) on Sale of Investments	635.95	581.33	-	-	-	-
Provision for Credit Losses	5,969	5,582	2,844	2,410	4,367	826.27
Change in Other Net Operating Assets	-88,498	-74,417	-32,481	-50,166	1,450	-76,452
Other Operating Activities	1,429	357.69	4,428	1,695	1,963	2,464
Operating Cash Flow	-62,106	-50,946	-13,682	-36,188	15,707	-68,239
Capital Expenditures	-134.52	-263.39	-245.45	-138.17	-277.18	-231.07
Sale of Property, Plant and Equipment	88.81	-	-	-	-	-
Cash Acquisitions	-	-	-	-51.64	-1,526	-3,694
Investment in Securities	22.37	-366.7	-420.76	199.69	905.46	3,515
Income (Loss) Equity Investments	-1,140	-1,207	-1,390	-1,042	-748.44	-1,640
Purchase / Sale of Intangibles	-367.28	-1,601	-402.07	-396	-1,296	-4,204
Other Investing Activities	343.85	664.23	405.44	821.14	1,677	852.78
Investing Cash Flow	-59.47	-1,567	-662.84	435.01	-517.53	-3,761
Long-Term Debt Issued	-	15,755	31,824	17,486	10,647	15,748
Long-Term Debt Repaid	-	-57.56	-2,401	-	-	-
Net Debt Issued (Repaid)	22,643	15,697	29,424	17,486	10,647	15,748
Issuance of Common Stock	35.41	-	-	-	-	5,797
Repurchase of Common Stock	-109.77	-109.77	-101.53	-301.18	-231.25	-
Common Dividends Paid	-4,750	-4,020	-2,995	-2,845	-2,025	-1,746
Net Increase (Decrease) in Deposit Accounts	45,402	26,277	16,617	17,523	6,195	52,590
Other Financing Activities	-755.21	286.29	1,422	313.76	-707.98	2,640
Financing Cash Flow	62,466	38,131	44,366	32,177	13,877	75,029
Foreign Exchange Rate Adjustments	917.93	889.28	-373.9	-101.84	55.68	-
Net Cash Flow	1,218	-13,493	29,647	-3,678	29,122	3,028
Free Cash Flow	-62,240	-51,210	-13,928	-36,326	15,429	-68,470
Free Cash Flow Margin	-139.42%	-122.55%	-40.10%	-116.72%	57.92%	-406.06%
Free Cash Flow Per Share	-12.95	-10.80	-2.94	-7.66	3.24	-14.39

Source: S&P Global Market Intelligence. Banks template. Financial Sources.