Liquidity management remains active, as evidenced by $2.1 billion in securities purchases and $3.8 billion in sales during 2026Q1 to support capital requirements.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|
| Cash from Operations | 3.25B | 3.11B | 3.76B | 7.54B | 2.1B | 91.64M | 2.98B | 859.47M | 604.35M | 19.72M | 441.48M | 89.96M | -338.79M | -214.29M | -40.23M |
| Operating CF Growth % | -432.98% | -17.37% | -50.17% | 258.66% | 2195.19% | -96.93% | 246.83% | 42.22% | 2964.32% | -95.53% | 390.75% | 126.55% | -58.09% | -432.69% | - |
| Net Income | 1.42B | 1.29B | 972.84M | 352.26M | -14.08M | -55.07M | 30.69M | 81.57M | 69.83M | 53.8M | 25.83M | 33.71M | 22.16M | 17.14M | 16.24M |
| Depreciation & Amortization | 161.16M | 0 | 208.83M | 160.44M | 163.97M | 58.34M | 43.66M | 14.05M | 2.61M | 1.41M | 1.27M | 3.33M | 1.71M | 781K | 324K |
| Deferred Taxes | 51.36M | 0 | 232.71M | 87.58M | -164.49M | 175.99M | -37.71M | -4.32M | 11.39M | 4.33M | -10.96M | -2.79M | 0 | 0 | 0 |
| Other Non-Cash Items | 2.29B | 2.11B | 1.09B | 1.04B | 776.96M | -660.43M | 209.37M | 103.99M | 56.73M | 56.52M | 62.51M | 33.63M | 46.61M | 48.04M | -56.79M |
| Working Capital Changes | -682.72M | -294.39M | 1.25B | 5.9B | 1.34B | 572.82M | 2.73B | 664.08M | 462.5M | -96.33M | 362.83M | 22.09M | -409.33M | -280.47M | 0 |
| Cash from Investing | -9.83B | -14.47B | -7.73B | -4.67B | -50.81M | -7.18B | -5.05B | -538.68M | -32.02M | -71.58M | -131.65M | 51.8M | -898K | 837K | -1.62M |
| Purchase of Investments | -4.5B | -10.34B | -18.26B | -20.06B | -8.56B | -28.7B | -5.04B | -1B | -775.47M | -114.66M | -177.76M | -42.88M | 0 | 0 | 0 |
| Sale/Maturity of Investments | 5.25B | 5.61B | 11.13B | 15.73B | 9.33B | 21.91B | 156.83M | 539.97M | 773.05M | 45.76M | 47.49M | 95.45M | 0 | 0 | 0 |
| Net Investment Activity | 744.86M | -4.72B | -7.14B | -4.33B | 774.26M | -6.79B | -4.88B | -463.2M | -2.42M | -68.9M | -130.27M | 52.58M | 0 | 0 | 0 |
| Acquisitions | 0 | 0 | -81.67M | -62.36M | -545.98M | -93.78M | -24.91M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -10.22B | -9.19B | -427.68M | -256.21M | -251.38M | -255.13M | -128.4M | -62.3M | -23.28M | -996K | 0 | 0 | 1.07M | 3.31M | -568K |
| Cash from Financing | 9.33B | 13.87B | 683.04M | -38.68M | -1.22B | 5.43B | 1.11B | 1.24B | 499.89M | -7.38M | -8M | -4.58M | 370.72M | 168.97M | 5.82M |
| Dividends Paid | -326.42M | -238.91M | -68.81M | 0 | -38.06M | -3.12M | -37.87M | 0 | 0 | 0 | -7.36M | -3.33M | 0 | 0 | 0 |
| Share Repurchases | -27.5M | -26.58M | -18.95M | -16.41M | 0 | -29.32M | -153.11M | 0 | -53K | 0 | -646K | -1.36M | 0 | 0 | 0 |
| Stock Issued | 0 | 0 | 823.04M | 0 | 0 | 0 | 1.27B | 1.29B | 522.82M | 62K | 4K | 104K | 0 | 0 | 0 |
| Net Stock Activity | -27.5M | -26.58M | 804.08M | -16.41M | 0 | -29.32M | 1.11B | 1.29B | 522.77M | 62K | -642K | -1.25M | 0 | 0 | 0 |
| Debt Issuance (Net) | 1000K | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1000K | 1000K | 0 |
| Other Financing | 8.37B | 11.84B | -52.23M | -22.27M | -1.18B | 5.46B | 31.63M | -43.57M | -22.88M | -7.44M | 0 | 0 | 343.81M | 166.01M | 5.82M |
| Net Change in Cash | 4.24B | 0 | -3.15B | 2.93B | 831.2M | -1.65B | -960.1M | 1.57B | 1.07B | -59.88M | 301.85M | 137.18M | 31.04M | -44.48M | -36.03M |
| Exchange Rate Effect | 1.49B | -2.51B | 134.45M | 88.71M | -217K | -30K | 1.01M | 397K | 1.59M | -639K | 22K | 0 | 0 | 0 | 0 |
| Cash at Beginning | 0 | 0 | 4.26B | 1.33B | 500.45M | 2.15B | 3.11B | 1.55B | 472.26M | 532.14M | 230.29M | 93.11M | 62.05M | 106.53M | 142.56M |
| Cash at End | 0 | 0 | 1.11B | 4.26B | 1.33B | 500.45M | 2.15B | 3.11B | 1.55B | 472.26M | 532.14M | 230.29M | 93.09M | 62.05M | 106.53M |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Income Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | 3.04B | 3B | 3.25B | 7.27B | 1.82B | -196.34M | 2.83B | 783.26M | 574.74M | 17.05M | 440.11M | 89.19M | -340.75M | -216.77M | -41.28M |
| FCF Growth % | -21.76% | -7.72% | -55.3% | 298.51% | 1029.17% | -106.94% | 261.06% | 36.28% | 3271.92% | -96.13% | 393.48% | 126.17% | -57.19% | -425.13% | - |
Credit Provisioning Volatility
According to recent SEC filings, Inter & Co's net income has demonstrated a consistent upward trajectory, reaching $387.4 million in 2026Q1, which suggests that the firm is successfully retaining earnings to bolster its regulatory capital buffers while simultaneously funding its aggressive expansion into new consumer credit segments.
The steady rise in net income provides a necessary cushion against the volatility inherent in the bank's rapid loan book expansion. Investors should monitor whether this organic capital generation remains sufficient to support the 60-30-20 growth strategy without requiring external equity dilution in the near term.
Based on the company's reported financial statements, Inter & Co has engaged in significant turnover of its investment securities, with 2026Q1 showing $2.1 billion in purchases against $3.8 billion in sales, indicating a proactive approach to managing liquidity and duration in a fluctuating Brazilian interest rate environment.
The high volume of securities activity suggests that the bank is actively rebalancing its portfolio to optimize yield while maintaining sufficient liquidity for its digital banking operations. This frequent turnover may imply that the firm is sensitive to short-term rate movements, which warrants further investigation into the duration profile of these assets.
As disclosed in quarterly results, the provision for loan losses reached $813.6 million in 2026Q1, a figure that has consistently trended upward from $384.4 million in 2023Q4, signaling that the bank is aggressively building reserves to mitigate potential credit deterioration within its expanding consumer and card portfolios.
The consistent increase in provisioning expenses appears to be a direct response to the rapid scaling of the loan book and the associated credit risk. While this reflects a prudent approach to risk management, it also highlights the potential for earnings volatility if actual charge-offs begin to exceed these elevated reserve levels.
Based on reported figures, Inter & Co's capital return activity has been inconsistent, characterized by a $288.4 million dividend payment in 2026Q1 following periods of minimal or negative capital returns, which suggests that management is prioritizing growth and balance sheet flexibility over a predictable dividend policy for shareholders.
The lack of a consistent dividend or buyback cadence indicates that capital allocation remains secondary to the bank's primary objective of scaling its ecosystem. Investors should interpret these sporadic returns as opportunistic rather than a commitment to long-term shareholder yield, especially given the ongoing capital requirements of the 60-30-20 plan.
Quick answers to the most common questions about buying INTR stock.
Inter & Co, Inc. (INTR) generated $3.11B in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Inter & Co, Inc. (INTR) generated $3.00B in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
Inter & Co, Inc. (INTR) spent $558.9M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, Inter & Co, Inc. (INTR) returned $238.9M to shareholders via cash dividends and spent $26.6M on share repurchases. This shows the company's commitment to returning capital to its equity investors.