Telefônica Brasil 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	7,271	6,764	5,574	4,832	5,960
Depreciation & Amortization	14,944	14,202	13,390	12,660	12,038
Other Adjustments	1,511	883.4	1,007	1,900	3,614
Change in Receivables	-2,447	-1,662	-1,943	-854.32	-1,405
Changes in Inventories	-423.2	-311.24	-100.84	-179.61	-45.17
Changes in Accounts Payable	507.95	1,097	800.25	231.89	1,046
Changes in Accrued Expenses	38.9	24.49	169.54	184.74	141.85
Changes in Income Taxes Payable	1,898	888.49	2,422	2,137	1,716
Changes in Other Operating Activities	-2,584	-2,010	-2,532	-1,969	-3,781
Operating Cash Flow	20,717	19,877	18,786	18,942	18,073
Operating Cash Flow Growth	4.23%	5.81%	-0.82%	4.81%	-6.56%
Capital Expenditures	-9,458	-9,324	-8,811	-9,894	-9,295
Sale of Property, Plant & Equipment	436.54	376.59	434.45	778	760.25
Other Investing Activities	-996.5	32.69	525.96	-5,087	407.46
Investing Cash Flow	-10,018	-8,915	-7,851	-14,203	-8,128
Long-Term Debt Issued	20	83.08	30.03	4,500	-
Long-Term Debt Repaid	-5,232	-3,495	-4,452	-6,986	-3,901
Net Long-Term Debt Issued (Repaid)	-5,212	-3,412	-4,422	-2,486	-3,901
Repurchase of Common Stock	-1,746	-1,300	-488.76	-607.44	-496
Net Common Stock Issued (Repurchased)	-1,746	-1,300	-488.76	-607.44	-496
Common Dividends Paid	-2,187	-2,532	-3,833	-5,709	-4,901
Other Financing Activities	-1,213	-1,385	-107.2	-110.62	40.04
Financing Cash Flow	-10,359	-8,629	-8,850	-8,914	-9,258
Net Cash Flow	341.24	2,333	2,084	-4,175	686.4
Free Cash Flow	11,260	10,552	9,975	9,048	8,777
Free Cash Flow Growth	6.70%	5.79%	10.24%	3.08%	-20.59%
FCF Margin	18.89%	18.90%	19.15%	18.83%	19.93%
Free Cash Flow Per Share	6.99	6.42	6.01	2.71	2.61
Levered Free Cash Flow	5,881	6,703	5,944	4,770	4,159
Unlevered Free Cash Flow	14,802	13,245	13,265	8,712	9,227

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.