Ero Copper Cash Flow Statement

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

Millions USD. 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	263.72	-68.48	92.8	101.83	201.05
Depreciation & Amortization	137.66	99.35	90.27	61.16	48.37
Loss (Gain) From Sale of Investments	-	-	-	-	-0.47
Stock-Based Compensation	24.58	9.98	9.22	7.93	7.85
Other Operating Activities	20.91	152.9	-23.26	-9.51	122.89
Change in Accounts Receivable	-22.38	-13.99	6.92	-1.87	-12.18
Change in Inventory	-41.64	-12.59	-5.27	-1.71	-2.33
Change in Accounts Payable	18.13	-4.14	1.67	-0.61	7.7
Change in Unearned Revenue	-	-	2.44	-	-
Change in Other Net Operating Assets	-5.85	-17.64	-11.69	-13.84	-8.3
Operating Cash Flow	395.14	145.42	163.1	143.39	364.59
Operating Cash Flow Growth	171.72%	-10.84%	13.75%	-60.67%	123.90%
Capital Expenditures	-282.44	-337.59	-460.65	-295.82	-181.83
Investment in Securities	-	-	152.48	-129.99	2.31
Other Investing Activities	3.85	2.2	-	-	-
Investing Cash Flow	-278.59	-335.38	-308.17	-425.81	-179.53
Long-Term Debt Issued	57.4	213.27	14.89	401.5	5.47
Total Debt Issued	57.4	213.27	14.89	401.5	5.47
Long-Term Debt Repaid	-72.71	-54.17	-19.66	-63.08	-118.08
Net Debt Issued (Repaid)	-15.31	159.1	-4.77	338.42	-112.61
Issuance of Common Stock	7.25	8.36	115.49	8.81	5.55
Other Financing Activities	-51.67	-36.3	-32.96	-19.93	-8.37
Financing Cash Flow	-59.73	131.16	77.75	327.3	-115.43
Foreign Exchange Rate Adjustments	-1.78	-2.53	1.35	2.69	-2.01
Net Cash Flow	55.04	-61.34	-65.96	47.57	67.62
Free Cash Flow	112.7	-192.17	-297.55	-152.43	182.76
Free Cash Flow Growth	-	-	-	-	305.85%
Free Cash Flow Margin	14.34%	-40.86%	-69.61%	-35.75%	37.30%
Free Cash Flow Per Share	1.08	-1.86	-3.14	-1.65	2.01
Cash Interest Paid	42.74	32.17	27.46	15.38	4.16
Cash Income Tax Paid	1.86	8.2	5.56	5.42	-25.19
Levered Free Cash Flow	-8.44	-153.92	-288.83	-163.06	62.91
Unlevered Free Cash Flow	1.16	-152.79	-280.85	-149.86	66.12
Change in Working Capital	-51.74	-48.34	-5.93	-18.03	-15.1

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