Moura Dubeux Engenharia Cash Flow Statement

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

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	420.45	251.49	155.84	105.92	82.95
Depreciation & Amortization	16.03	10.53	7.65	4.98	4.18
Loss (Gain) From Sale of Investments	-8.36	-	-	-	-
Loss (Gain) on Equity Investments	0.12	-0.13	-1.78	-0.52	-1.1
Stock-Based Compensation	5.02	3.32	1.79	0.71	-
Other Operating Activities	23.4	-35.74	-25.65	-12.81	15.52
Change in Accounts Receivable	-740.17	-366.7	-294.78	-76.02	-156.44
Change in Inventory	-66.18	132.55	-289.68	33.71	65.92
Change in Accounts Payable	244.79	48.38	100.25	4.29	79.45
Change in Unearned Revenue	-51.3	-105.74	175.09	17.15	25.2
Change in Income Taxes	-4.66	-0.4	0.63	-3.2	-0.72
Change in Other Net Operating Assets	81.79	68.98	19.9	3.75	-19.62
Operating Cash Flow	-79.07	6.54	-150.74	77.96	95.35
Operating Cash Flow Growth	-	-	-	-18.23%	181.79%
Capital Expenditures	-63.17	-24.49	-30.77	-17.56	-9.02
Sale (Purchase) of Intangibles	-0.45	-2.76	-0.72	-2.71	-1.29
Sale (Purchase) of Real Estate	-	-	4.5	-	-
Investment in Securities	-146.7	-26.35	27.44	7.1	-1.94
Investing Cash Flow	-210.31	-53.6	0.46	-13.17	-12.25
Long-Term Debt Repaid	-250.37	-345.29	-107.93	-130.41	-99.52
Net Debt Issued (Repaid)	-250.37	-345.29	-107.93	-130.41	-99.52
Issuance of Common Stock	11.51	8.23	3.7	3.48	-
Repurchase of Common Stock	-3.37	-7.65	-1	-2.99	-12.99
Common Dividends Paid	-100.75	-54.68	-	-	-
Other Financing Activities	610.39	520.4	322.45	141.42	93.75
Financing Cash Flow	267.42	121.02	217.22	11.5	-18.76
Net Cash Flow	-21.96	73.96	66.94	76.29	64.34
Free Cash Flow	-142.23	-17.96	-181.5	60.4	86.33
Free Cash Flow Growth	-	-	-	-30.03%	203.12%
Free Cash Flow Margin	-6.04%	-1.14%	-15.77%	7.55%	13.93%
Free Cash Flow Per Share	-1.68	-0.21	-2.14	0.71	1.02
Cash Interest Paid	84.06	53.36	29.09	12.87	12.99
Cash Income Tax Paid	34.02	28.55	28.62	18.3	12.56
Levered Free Cash Flow	-413.17	-35.39	-43.47	67.03	-14.81
Unlevered Free Cash Flow	-376.11	-20.94	-40.34	71.03	-9.36
Change in Working Capital	-535.72	-222.93	-288.58	-20.32	-6.21

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