Afya Limited (AFYA)

Afya Limited Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	782.27	752.46	631.51	386.32	373.57	223.33
Depreciation & Amortization	325.89	331.86	296.8	259.24	185.97	144.14
Other Amortization	44.64	41.48	36.54	30.27	20.25	10.08
Asset Writedown & Restructuring Costs	3.91	3.34	2.78	2.32	1.72	3.98
Loss (Gain) on Equity Investments	-15.36	-13.92	-11.74	-9.5	-12.18	-11.8
Stock-Based Compensation	22.04	15.32	32.42	31.54	31.27	43.38
Provision & Write-off of Bad Debts	62.13	57.09	60.89	74.55	42.71	47.82
Other Operating Activities	548.03	556.95	407.45	345.05	310.51	218.74
Change in Accounts Receivable	-204.52	-177.6	-97.45	-131.34	-129.17	-79.67
Change in Inventory	-	-	-	-	-	-3.72
Change in Accounts Payable	11.66	-4.5	18.13	24.5	9.98	14.48
Change in Unearned Revenue	-4.55	-3.01	6.33	-17.89	8.39	36.01
Change in Income Taxes	-40.41	-28.86	3.31	-12.08	-6.15	-17.23
Change in Other Net Operating Assets	22.1	0.98	45.68	60.63	7.03	1.33
Operating Cash Flow	1,558	1,532	1,433	1,044	843.9	630.87
Operating Cash Flow Growth	1.35%	6.91%	37.28%	23.67%	33.77%	69.81%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-125.4	-166.01	-136.92	-118.44	-168.13	-125.87
Cash Acquisitions	-144.29	-144.08	-627.57	-836.01	-301.2	-1,017
Sale (Purchase) of Intangibles	-173.5	-198	-255.69	-126.99	-128.89	-150.93
Other Investing Activities	7.63	1.02	-71.43	-61.62	6.75	19.87
Investing Cash Flow	-435.56	-507.07	-1,092	-1,143	-591.47	-1,274

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Long-Term Debt Issued	-	1,495	491.59	5.29	496.89	809.54
Long-Term Debt Repaid	-	-1,674	-169.92	-144.1	-30.3	-127.84
Net Debt Issued (Repaid)	-186.2	-179.44	321.68	-138.82	466.58	681.7
Issuance of Common Stock	11.39	25.73	9.38	9.79	-	33.34
Repurchase of Common Stock	-210.01	-77	-	-12.37	-152.32	-213.72
Common Dividends Paid	-323.22	-146.81	-	-	-	-
Other Financing Activities	-504.71	-430.81	-307.09	-298.55	-221.32	-136.63
Financing Cash Flow	-1,213	-808.34	23.97	-439.94	92.94	364.68

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	-2.13	-1.82	-7.03	-0.68	-0.85	-17.97
Net Cash Flow	-92.62	214.37	357.99	-540.05	344.52	-296.48

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	1,432	1,366	1,296	925.19	675.77	505
Free Cash Flow Growth	4.98%	5.39%	40.05%	36.91%	33.82%	79.28%
Free Cash Flow Margin	37.44%	36.94%	39.21%	32.17%	29.02%	29.37%
Free Cash Flow Per Share	15.85	14.96	14.21	10.22	7.45	5.37
Levered Free Cash Flow	386.57	408.43	238.22	384.86	156.34	177.36
Unlevered Free Cash Flow	671.45	683.08	467.19	626.3	336.75	287.14

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	504.71	445.35	367.73	351.32	201.59	117.99
Cash Income Tax Paid	12.37	16.05	20.52	45.14	33.09	35.68
Change in Working Capital	-215.71	-213	-24	-76.17	-109.92	-48.8

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: May 7, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 24, 2026

Data Sources Report a data error