Ecopetrol S.A. (EC)

Ecopetrol Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	10,675,000	14,444,000	18,499,000	25,383,000	35,199,480	17,630,554
Depreciation & Amortization	15,928,000	16,107,000	15,197,000	13,812,000	12,128,991	10,159,922
Other Adjustments	11,492,523	13,288,000	18,990,000	20,365,000	28,218,936	13,840,954
Change in Receivables	-	296,000	9,052,000	-20,439,000	-27,539,055	-9,457,451
Changes in Inventories	-	897,000	533,000	808,000	-2,831,729	-2,980,134
Changes in Accounts Payable	-	-1,290,000	-1,277,000	507,000	3,690,068	3,117,982
Changes in Income Taxes Payable	-	-334,000	-1,999,000	-5,855,000	-3,100,744	-2,448,882
Changes in Other Operating Activities	-6,645,000	-10,066,000	-13,868,000	-14,780,000	35,464,487	20,911,999
Operating Cash Flow	34,397,000	33,342,000	45,127,000	19,801,000	36,234,570	22,536,021
Operating Cash Flow Growth	-25.78%	-26.11%	127.90%	-45.35%	60.78%	145.31%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-20,552,000	-20,325,000	-20,062,000	-23,314,000	-20,730,260	-12,850,616
Sale of Property, Plant & Equipment	70,000	113,000	355,000	729,000	373,634	17,986
Purchases of Intangible Assets	-530,000	-502,000	-866,000	-776,000	-1,147,510	-444,346
Purchases of Investments	-6,000	-6,000	-20,000	-1,000	-329,377	-44,735
Proceeds from Sale of Investments	3,944,000	2,265,000	-2,455,000	976,000	1,301,394	1,282,903
Cash Acquisitions	-	-1,475,000	-1,038,000	-	-	-8,951,587
Other Investing Activities	1,996,000	2,018,000	2,052,000	2,366,000	2,437,086	472,164
Investing Cash Flow	-15,444,000	-17,912,000	-22,034,000	-20,020,000	-18,095,033	-20,518,231

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Long-Term Debt Issued	11,907,000	18,402,000	27,155,000	34,035,000	16,844,029	24,666,792
Long-Term Debt Repaid	-5,376,000	-15,192,000	-26,158,000	-21,660,000	-16,409,494	-11,267,540
Net Long-Term Debt Issued (Repaid)	6,531,000	3,210,000	997,000	12,375,000	434,535	13,399,252
Common Dividends Paid	-11,196,000	-11,717,000	-15,565,000	-5,571,000	-13,356,947	-2,771,287
Other Financing Activities	-8,839,000	-8,858,000	-8,119,000	-7,159,000	-6,011,630	-3,669,585
Financing Cash Flow	-18,742,000	-17,365,000	-22,687,000	-355,000	-18,934,042	6,958,380

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	-1,432,000	-1,425,000	1,312,000	-2,491,000	1,645,657	491,428
Net Cash Flow	-3,407,000	-3,360,000	1,718,000	-3,065,000	851,152	9,467,598

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	13,845,000	13,017,000	25,065,000	-3,513,000	15,504,310	9,685,405
Free Cash Flow Growth	-43.41%	-48.07%	-	-	60.08%	-
FCF Margin	11.84%	10.88%	18.80%	-2.45%	9.72%	10.54%
Free Cash Flow Per Share	6734.49	6331.73	12192.10	-1708.79	7541.61	4711.18
Levered Free Cash Flow	5,559,452	-1,313,000	-6,638,000	4,614,000	58,461,348	44,958,666
Unlevered Free Cash Flow	6,639,037	5,420,126	1,694,891	-95,783	65,820,501	35,723,737

SEC Filings: 10-K · 10-Q

Data Source: Fiscal.ai Last updated: May 14, 2026

Financial data is provided by Fiscal.ai and updates within minutes after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Jul 28, 2026

Data Sources Report a data error