Cosan S.A. (CSAN)

Cosan Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	-2,018	-5,245	5,114	2,653	6,251	1,991
Depreciation & Amortization	972.61	3,869	3,365	3,014	2,504	2,341
Stock-Based Compensation	30.11	65.9	207.71	99.09	53.13	272.69
Other Adjustments	8,923	30,518	20,944	18,390	5,835	3,047
Change in Receivables	-263.94	546.22	573.74	-6.33	-404.02	67.29
Changes in Inventories	-99.71	159.67	-83.17	-423.43	-245.17	-117.17
Changes in Accounts Payable	-282.02	-180.87	-252.81	510.62	591.98	167.02
Changes in Accrued Expenses	-403.96	-542.24	-356.21	-249.24	-150.09	-170.13
Changes in Income Taxes Payable	-641.26	-1,488	-1,272	-1,091	-950.4	-868.23
Changes in Other Operating Activities	-2,511	-3,870	-3,288	-519.89	-1,646	-1,453
Operating Cash Flow	1,776	13,081	10,276	9,972	5,147	5,657
Operating Cash Flow Growth	-	27.29%	3.05%	93.74%	-9.01%	-10.16%
Capital Expenditures	-6,307	-7,835	-6,268	-4,531	-4,775	-4,035
Sale of Property, Plant & Equipment	1.02	36.93	4.64	9.32	3.09	3.05
Purchases of Investments	193.8	550.38	-515.46	-14,103	-528.63	-483.56
Proceeds from Sale of Investments	8,893	2,726	645.77	1,970	-	-51.3
Payments for Business Acquisitions	-213.09	-962.38	-702.58	-5,289	-592.73	-94.63
Proceeds from Business Divestments	-	24.51	62.7	44.97	-	-
Other Investing Activities	-333.32	988.24	1,164	1,172	415.92	138.21
Investing Cash Flow	10,646	-4,471	-5,609	-20,727	-5,477	-4,523
Long-Term Debt Issued	8,929	16,983	12,786	23,887	12,549	10,336
Long-Term Debt Repaid	22,324	12,188	8,055	15,278	9,925	3,397
Net Long-Term Debt Issued (Repaid)	31,253	29,171	20,840	39,165	22,474	13,733
Repurchase of Common Stock	-	204.97	-	84.59	26.1	495.05
Net Common Stock Issued (Repurchased)	-	204.97	-	84.59	26.1	495.05
Common Dividends Paid	-44.03	-	-	-	-2,559	-546.3
Preferred Share Dividends Paid	-371	-2,779	-2,582	-1,908	-	-
Other Financing Activities	-5,688	-7,741	-6,078	1,784	2,309	-2,217
Financing Cash Flow	-21,927	-6,606	-4,517	8,286	2,349	3,686
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-230	-	-	-	-	-
Net Cash Flow	-1,527	1,987	1,457	-2,468	2,020	4,820
Free Cash Flow	-4,531	5,247	4,008	5,441	372.35	1,622
Free Cash Flow Growth	-	30.89%	-26.33%	1361.21%	-77.05%	-54.09%
FCF Margin	-21.14%	11.94%	10.16%	13.84%	1.43%	7.94%
Free Cash Flow Per Share	-9.75	11.27	8.55	11.61	0.81	3.52
Levered Free Cash Flow	1,988	9,860	13,780	37,052	24,116	10,458
Unlevered Free Cash Flow	-2,489	-11,707	-5,055	-461.79	-3,026	-3,262

Updated Nov 15, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q