Ecopetrol S.A. (EC)

Ecopetrol Cash Flow Statement

Financials in millions COP. 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	9,029,000	18,498,875	25,383,071	35,199,480	17,630,554
Depreciation & Amortization	16,107,000	15,197,283	13,812,387	12,128,991	10,159,922
Other Adjustments	18,703,000	19,042,040	22,763,273	28,094,286	13,809,228
Change in Receivables	-	9,051,605	-20,439,663	-27,539,055	-9,457,451
Changes in Inventories	-	532,562	808,127	-2,831,729	-2,980,134
Changes in Accounts Payable	-	-1,277,094	507,579	3,690,068	3,117,982
Changes in Income Taxes Payable	-	-1,998,829	-5,854,882	-3,100,744	-2,448,882
Changes in Other Operating Activities	-10,497,000	-12,806,020	-13,612,025	-8,527,210	-6,448,348
Operating Cash Flow	33,342,000	45,127,516	19,800,552	36,234,570	22,536,021
Operating Cash Flow Growth	-26.12%	127.91%	-45.36%	60.78%	145.31%
Capital Expenditures	-9,773,000	-9,521,041	-9,349,885	-8,767,716	-6,117,588
Purchases of Intangible Assets	-11,054,000	-11,406,544	-14,741,031	-13,110,054	-7,177,374
Payments for Business Acquisitions	-1,475,000	-1,038,101	-	-	-8,951,587
Other Investing Activities	2,125,000	-68,296	4,071,178	3,782,737	1,728,318
Investing Cash Flow	-17,912,000	-22,033,982	-20,019,738	-18,095,033	-20,518,231
Long-Term Debt Issued	3,210,000	27,155,189	34,035,090	16,844,029	24,666,792
Long-Term Debt Repaid	-	-26,157,908	-21,659,669	-16,409,494	-11,267,540
Net Long-Term Debt Issued (Repaid)	3,210,000	997,281	12,375,421	434,535	13,399,252
Common Dividends Paid	-11,717,000	-15,565,064	-5,570,876	-13,356,947	-2,771,287
Other Financing Activities	-8,858,000	-8,119,339	-7,159,154	-6,011,630	-3,669,585
Financing Cash Flow	-17,365,000	-22,687,122	-354,609	-18,934,042	6,958,380
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-1,425,000	1,311,948	-2,491,148	1,645,657	491,428
Net Cash Flow	-3,360,000	1,718,360	-3,064,943	851,152	9,467,598
Free Cash Flow	23,569,000	35,606,475	10,450,667	27,466,854	16,418,433
Free Cash Flow Growth	-33.81%	240.71%	-61.95%	67.29%	295.21%
FCF Margin	19.69%	26.71%	7.30%	17.21%	17.87%
Free Cash Flow Per Share	-	17319.72	5083.42	13360.44	7986.26
Levered Free Cash Flow	17,090,000	23,464,170	45,130,591	59,830,456	41,961,901
Unlevered Free Cash Flow	30,868,457	43,881,833	41,102,936	73,909,323	34,864,900

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

SEC Filings: 10-K · 10-Q