Gerdau S.A. (GGB) quarterly cash flow statement — complete operating, investing & financing history
Gerdau S.A. (GGB) cash flow statement — 28-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 1.54B | 1.51B | 3.15B | 2.93B | 1.01B | 900.86M | 2.79B | 5.83B | 1.94B | 831.29M | 3.61B | 2.34B | 3.22B | 1.96B | 1.72B | 3.25B | 3.86B | 2.32B | 7.82B | 2.58B |
| Operating CF Margin % | 8.59% | 9.03% | 18.54% | 16.27% | 5.79% | 5.18% | 16.56% | 33.54% | 11.65% | 5.13% | 24.55% | 13.74% | 17.61% | 10.41% | 9.6% | 15.36% | 16.79% | 11.41% | 36.29% | 12.08% |
| Operating CF Growth % | 51.31% | 67.54% | 12.93% | -49.81% | -47.59% | 8.37% | -22.88% | 148.53% | -39.83% | -57.67% | 109.55% | -27.81% | -16.61% | -15.37% | -77.95% | 26.1% | 600.89% | 47.9% | 201.45% | 3.64% |
| Net Income | 1.47B | 1.01B | -1.29B | 1.09B | 864.5M | 757.8M | 322.96M | 1.36B | 866.98M | 2.05B | 586.8M | 1.59B | 2.14B | 3.22B | 1.22B | 3.02B | 4.3B | 2.94B | 3.56B | 5.59B |
| Depreciation & Amortization | 920.77M | 902.39M | 935.65M | 937.55M | 936.54M | 873.84M | 832.87M | 796.28M | 771.32M | 725.78M | 790.84M | 789.15M | 752.45M | 714.77M | 769.16M | 737.51M | 701.21M | 658.81M | 706.56M | 672.67M |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 16.39M |
| Deferred Taxes | 599.48M | 550.5M | 111.42M | 375.21M | 231.11M | 347.83M | 131.94M | 471.18M | 108.8M | 262.19M | 168.61M | 345.86M | 383.22M | -26.03M | 938.4M | 956.9M | 1.2B | 1.58B | -810.72M | 1.9B |
| Other Non-Cash Items | -648.75M | 345.14M | 1.54B | 115.64M | -597.79M | 152.62M | 736.48M | 1.16B | 215.99M | -805.84M | 910.35M | -1.37B | 572.88M | -467.95M | -844.68M | -1.18B | -1.04B | -265.25M | 3.13B | -4.23B |
| Working Capital Changes | -802.54M | -1.3B | 1.86B | 406.76M | -419.89M | -1.23B | 762.41M | 2.04B | -27.56M | -1.4B | 1.16B | 985.82M | -634.43M | -1.47B | -356.97M | -290.95M | -1.3B | -2.59B | 1.24B | -1.38B |
| Change in Receivables | -45.37M | -1.25B | 1.42B | -121.42M | 251.01M | -1.2B | 1.15B | 1.85B | -10.39M | -551.89M | 704.92M | 27.66M | 122.86M | -1.26B | 1.48B | 665.73M | -205.06M | -1.94B | 1.24B | -345.78M |
| Change in Inventory | -995.52M | -874.99M | 794.61M | 496.03M | 170.34M | -504.06M | 334.42M | 485.12M | 342.08M | -619.12M | 146.95M | 1.16B | -312.79M | 312.45M | 615.04M | -365.5M | -1.48B | -810.49M | -1.29B | -1.38B |
| Change in Payables | 94.89M | 1.14B | -633.54M | -72.36M | -712.36M | 931.87M | -417.65M | -250.35M | -593.47M | 68.48M | 420.17M | -606.32M | -428.24M | 258.98M | -2.12B | -451.04M | 715.29M | 856.37M | 896.76M | -4.4M |
| Cash from Investing | -1.1B | -1.2B | -1.54B | -1.73B | -1.92B | -2.38B | -2.42B | -1.72B | -1.26B | 362.63M | -1.97B | -1.51B | -1.21B | -1.07B | -1.73B | -1.14B | -975.2M | -615.8M | -1.1B | -827.57M |
| Capital Expenditures | -1.06B | -1.17B | -1.47B | -1.71B | -1.66B | -1.84B | -1.87B | -1.66B | -1.17B | -1.08B | -1.54B | -1.49B | -1.23B | -954.35M | -1.68B | -1.06B | -958.98M | -592.86M | -1.21B | -810.36M |
| CapEx % of Revenue | 5.96% | 6.99% | 8.66% | 9.53% | 9.47% | 10.58% | 11.1% | 9.54% | 7.04% | 6.68% | 10.47% | 8.71% | 6.73% | 5.06% | 9.37% | 4.99% | 4.18% | 2.92% | 5.64% | 3.8% |
| Acquisitions | 0 | -89K | -25.85M | -2.64M | -240.09M | -521.98M | -546.56M | -36.03M | -33.21M | -31.83M | -427.53M | 0 | 47.01M | -96.65M | 0 | -26.75M | 0 | 0 | 113.59M | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -33.05M | -32.86M | -43.12M | -14.05M | -24.71M | -19.61M | -10.45M | -21.72M | -53.71M | 1.48B | -5.86M | -27.88M | -30.63M | -22.17M | -49.38M | -52.52M | -16.21M | -22.95M | 1.85M | -17.21M |
| Cash from Financing | -539.01M | -723.38M | -5.38B | -103.29M | 3.17B | 594.41M | -1.42B | -838.18M | 85.05M | -516.07M | -928.09M | -531.85M | -1.95B | -719.4M | -3.42B | -1.93B | -2.59B | -314.52M | -6.54B | -895.12M |
| Debt Issued (Net) | -71.12M | -329.95M | -4.62B | 358.31M | 3.92B | 1.08B | 70.3M | -236.73M | 671.77M | -341.41M | -99.84M | 218.86M | -1.17B | -387.15M | 216.85M | -127.81M | -1.36B | 26.07M | -3.26B | 28.4M |
| Equity Issued (Net) | -104.88M | -206.39M | -183.49M | -213.32M | -491.61M | -280.89M | -844.93M | -349.79M | 0 | 0 | 0 | 0 | 0 | 0 | -156.98M | -604M | 0 | 0 | 0 | 0 |
| Dividends Paid | -363.01M | -187.04M | -573.99M | -248.29M | -260.77M | -202.63M | -643.36M | -251.66M | -586.73M | -174.66M | -828.26M | -750.71M | -772.11M | -332.25M | -3.48B | -1.2B | -870.33M | -340.58M | -3.28B | -923.52M |
| Share Repurchases | -104.88M | -206.39M | -183.49M | -213.32M | -491.61M | -280.89M | -844.93M | -349.79M | 0 | 0 | 0 | 0 | 0 | 0 | -156.98M | -604M | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -358.3M | 0 | 0 | 0 |
| Net Change in Cash | -120.65M | -653.28M | -3.46B | 888.64M | 2.02B | -1.29B | -306.29M | 3.18B | 1.15B | 737.48M | 91.12M | 358.49M | -25.84M | 106.02M | -3.71B | 408.9M | 881.59M | 734.51M | 184.58M | 949.85M |
| Free Cash Flow | 432.48M | 304.16M | 1.63B | 1.16B | -685.96M | -971.25M | 875.14M | 4.13B | 709.95M | -278.21M | 2.04B | 827.64M | 1.96B | 981.68M | -20.82M | 2.14B | 2.86B | 1.69B | 6.55B | 1.74B |
| FCF Margin % | 2.42% | 1.82% | 9.6% | 6.46% | -3.91% | -5.59% | 5.2% | 23.75% | 4.27% | -1.72% | 13.84% | 4.85% | 10.71% | 5.2% | -0.12% | 10.11% | 12.45% | 8.32% | 30.38% | 8.16% |
| FCF Growth % | 163.05% | 131.32% | 86.24% | -71.85% | -196.62% | -249.1% | -57.03% | 398.76% | -63.71% | -128.34% | 9880.84% | -61.3% | -31.6% | -41.95% | -100.32% | 22.89% | 4818.31% | 54.23% | 231.63% | -17.33% |
| FCF per Share | 0.22 | 0.15 | 0.83 | 0.58 | -0.34 | -0.47 | 0.42 | 1.96 | 0.34 | -0.11 | 0.96 | 0.47 | 1.11 | 0.56 | -0.01 | 1.20 | 1.59 | 0.94 | 3.66 | 0.73 |
| FCF Conversion (FCF/Net Income) | 1.06x | 1.51x | -2.42x | 2.71x | 1.18x | 1.20x | 8.82x | 4.33x | 2.25x | 0.41x | 6.25x | 1.48x | 1.51x | 0.61x | 1.43x | 1.08x | 0.90x | 0.79x | 2.24x | 0.46x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |