Gerdau S.A. (GGB)

Gerdau Cash Flow Statement

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

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	1,674	1,418	4,599	7,537	11,480	15,559
Depreciation & Amortization	3,712	3,684	3,126	3,047	2,867	2,659
Stock-Based Compensation	147.91	149.21	152.41	157.98	104.71	65.29
Other Adjustments	4,498	4,339	2,095	1,682	5,467	4,474
Change in Receivables	103.08	149.59	549.55	-294.51	290.58	-1,614
Changes in Inventories	586	956.92	542.5	1,305	-2,039	-7,704
Changes in Accounts Payable	-281.34	-486.38	-1,193	-355.42	-995.6	2,534
Changes in Other Operating Activities	-1,843	-2,223	1,510	-1,941	-6,023	-3,456
Operating Cash Flow	8,596	7,987	11,381	11,139	11,150	12,517
Operating Cash Flow Growth	-24.93%	-29.82%	2.18%	-0.10%	-10.92%	95.34%
Capital Expenditures	-6,011	-6,682	-5,778	-5,209	-4,292	-3,026
Sale of Property, Plant & Equipment	60.27	69.73	1,560	40.66	48.32	82.64
Purchases of Intangible Assets	-175.01	-171.22	-168.04	-127.2	-189.38	-166.31
Purchases of Investments	-2.73	-91.44	-191.95	-524.19	-26.75	113.6
Payments for Business Acquisitions	-265.94	-699.12	-455.68	-	-	-
Other Investing Activities	-	-	-	47.01	-	-
Investing Cash Flow	-6,394	-7,574	-5,034	-5,773	-4,460	-2,996
Long-Term Debt Issued	8,054	9,221	3,918	1,777	2,263	609.7
Long-Term Debt Repaid	-8,240	-7,995	-3,270	-2,831	-3,201	-5,117
Net Long-Term Debt Issued (Repaid)	-186.67	1,227	648.43	-1,054	-937.82	-4,507
Repurchase of Common Stock	-1,095	-1,169	-1,195	-	-1,073	-
Net Common Stock Issued (Repurchased)	-1,095	-1,169	-1,195	-	-1,073	-
Common Dividends Paid	-1,270	-1,286	-1,656	-2,683	-5,892	-5,339
Other Financing Activities	-482.39	-487.78	-484.5	-388.1	-353.66	-136.3
Financing Cash Flow	-3,034	-1,716	-2,687	-4,125	-8,256	-9,983
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-371.33	-536.27	1,102	-710.66	-119.16	5.26
Net Cash Flow	-1,204	-1,839	4,762	529.78	-1,685	-456.55
Free Cash Flow	2,585	1,306	5,603	5,930	6,858	9,491
Free Cash Flow Growth	97.96%	-76.69%	-5.51%	-13.54%	-27.74%	99.51%
FCF Margin	3.74%	1.87%	8.36%	8.60%	8.32%	12.11%
Free Cash Flow Per Share	3.60	1.82	7.78	8.23	9.52	13.83
Levered Free Cash Flow	-2,380	-2,137	3,422	3,295	4.32	1,994
Unlevered Free Cash Flow	-1,469	-2,649	4,509	5,276	2,366	7,141

Updated Apr 28, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

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