Cosan S.A. (CSAN)

Cosan Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	-7,991	-5,245	5,114	2,653	6,251
Depreciation & Amortization	3,891	3,869	3,365	3,014	2,504
Stock-Based Compensation	71.73	65.9	207.71	99.09	53.13
Other Adjustments	20,299	17,046	4,041	4,914	-1,998
Change in Receivables	539.73	546.22	573.74	-6.33	-404.02
Changes in Inventories	-107.77	159.67	-83.17	-423.43	-245.17
Changes in Accounts Payable	-246.61	-180.87	-252.81	510.62	591.98
Changes in Accrued Expenses	-558.4	-579.79	-390.45	-339.66	-184.09
Changes in Income Taxes Payable	-2,162	-1,842	-817.2	-537.1	-794.69
Changes in Other Operating Activities	-708.68	-756.79	-1,481	-504.9	-626.79
Operating Cash Flow	13,027	13,081	10,276	9,972	5,147
Operating Cash Flow Growth	-0.42%	27.29%	3.05%	93.74%	-9.01%
Capital Expenditures	-8,460	-7,835	-6,268	-4,531	-4,775
Sale of Property, Plant & Equipment	9.47	36.93	4.64	9.32	3.09
Purchases of Investments	-46.98	-0.94	-623.26	-14,247	-919.53
Proceeds from Sale of Investments	10,201	4,589	3,212	3,423	836.16
Payments for Business Acquisitions	-867.34	-979.43	-702.58	-5,289	-592.73
Proceeds from Business Divestments	7.43	24.51	62.7	44.97	-
Other Investing Activities	-920.18	-324.15	11.71	-136.36	-28.31
Investing Cash Flow	-76.07	-4,488	-4,303	-20,727	-5,476
Long-Term Debt Issued	11,547	16,983	12,786	23,887	12,549
Long-Term Debt Repaid	-14,294	-12,188	-8,055	-15,278	-9,925
Net Long-Term Debt Issued (Repaid)	-2,747	4,796	4,731	8,609	2,623
Issuance of Common Stock	10,280	-	-	2.37	69.16
Repurchase of Common Stock	-34.02	-192.92	-103.28	-84.59	-26.1
Net Common Stock Issued (Repurchased)	10,246	-192.92	-103.28	-82.22	43.05
Issuance of Preferred Stock	6,793	-	-24.28	8,127	2,252
Repurchase of Preferred Stock	-6,245	-204.97	-	-506.94	-698.15
Net Preferred Stock Issued (Repurchased)	548.09	-204.97	-24.28	7,620	1,554
Common Dividends Paid	-1,699	-2,779	-2,582	-1,908	-2,559
Preferred Share Dividends Paid	-994.59	-668.02	-	-	-
Other Financing Activities	-7,706	-7,557	-6,537	-5,952	686.91
Financing Cash Flow	-2,352	-6,606	-4,517	8,286	2,349
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-258.63	257.9	-100	-404.34	511.47
Net Cash Flow	10,599	1,987	1,457	-2,468	2,020
Free Cash Flow	4,567	5,247	4,008	5,441	372.35
Free Cash Flow Growth	-12.96%	30.89%	-26.33%	1361.21%	-77.05%
FCF Margin	11.30%	11.94%	10.16%	13.84%	1.43%
Free Cash Flow Per Share	7.39	11.27	8.55	11.61	0.81
Levered Free Cash Flow	-20,822	-11,794	-102.1	6,973	5,406
Unlevered Free Cash Flow	4,998	5,199	4,449	5,007	849.73

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

SEC Filings: 10-K · 10-Q