Patria Investments Limited (PAX) quarterly cash flow statement — complete operating, investing & financing history
| Metric | 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 | Q2'21 | Q1'21 |
|---|
| Cash from Operations | 36M | 65.9M | 76.87M | 100.07M | 25.94M | 68.41M | 9.67M | 41.94M | 39.44M | 45.35M | 42.66M | 29.27M | -9.3M | 56.43M | 7.66M | 26.27M | 28.04M | 47.84M | -2.88M | 34.55M |
| Operating CF Margin % | 26.78% | 76.22% | 93.16% | 125.77% | 16.5% | 87.64% | 12.89% | 65.73% | 35.3% | 71.37% | 54.28% | 39.69% | -10.19% | 99.02% | 13.76% | 47.77% | 60.68% | 120.52% | -2.42% | 112.88% |
| Operating CF Growth % | 38.77% | -3.67% | 695.22% | 138.64% | -34.23% | 50.85% | -77.34% | 43.25% | 524.03% | -19.64% | 457.32% | 11.44% | -133.17% | 17.96% | 366.17% | -23.98% | 526.11% | 17.46% | - | 88.02% |
| Net Income | 34.5M | 22.5M | 12.85M | 16.56M | 55.42M | 466K | 2.53M | 15.85M | 48.39M | 18.84M | 36.03M | 17.56M | 46.66M | 13.22M | 15.91M | 18.32M | 13.21M | 21.52M | 73.4M | 13.06M |
| Depreciation & Amortization | 12M | 12.3M | 7.72M | 11.23M | 12.14M | 8.77M | 7.67M | 7.24M | 7.21M | 7.18M | 6.73M | 6M | 5.75M | 5.15M | 5.12M | 5.19M | 1.2M | 1.93M | 1.98M | 1.96M |
| Stock-Based Compensation | 25.77M | 3.26M | 3.86M | 3.58M | 6.41M | 6.53M | 5.69M | 447K | 491K | 228K | 486K | 260K | 215K | 191K | 125K | 200K | -699K | 89K | 854K | -136K |
| Deferred Taxes | 2.49M | 355K | 829K | -1.95M | -2.82M | 8.28M | 629K | 4.22M | 2.29M | -553K | -7.68M | 3.13M | 2.3M | 2.2M | -341K | 4.19M | 1.89M | -855K | -1.18M | 525K |
| Other Non-Cash Items | -16.05M | 14.38M | 8.79M | 7.35M | 9.82M | 21.65M | 4.64M | -2.42M | -13.26M | -4.45M | 7.85M | 2.02M | -17.96M | 2.67M | -1.51M | -3.21M | -26.38M | 517K | -1.3M | 1.52M |
| Working Capital Changes | -22.72M | 29.02M | 43.65M | 63.31M | -57.86M | 30.98M | -11.49M | 16.6M | -5.68M | 24.1M | -747K | 303K | -46.27M | 33M | -11.65M | 1.58M | 40.72M | 24.63M | -76.63M | 17.63M |
| Change in Receivables | -62.67M | 4.54M | -2.38M | 89.29M | -131.34M | 27.46M | -9.84M | 20.52M | 1.62M | -15.61M | 27.29M | -27.29M | -35.28M | -4.71M | 12.58M | 4.34M | 33.1M | -8.72M | -87.63M | 500K |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -18.58M | 62.32M | -32.01M | -9.43M | 2.15M | 174K | 75.76M | -52.77M | -8.63M | 2.42M | 47.17M | 21.2M | 34.45M | -20.83M | 27.89M | -230.85M | -35.87M | 34.82M | 14.2M | -297.37M |
| Capital Expenditures | -9.24M | -2.27M | -2.45M | -2.18M | -1.95M | -98K | -535K | -1.02M | -4.85M | -7.17M | -431K | -554K | 3.39M | -4.96M | -3.07M | -1.41M | -1.03M | -845K | -56K | -228K |
| CapEx % of Revenue | 6.88% | 2.62% | 2.97% | 2.74% | 1.24% | 0.13% | 0.71% | 1.6% | 4.34% | 11.29% | 0.55% | 0.75% | 3.71% | 8.71% | 5.53% | 2.56% | 2.22% | 2.13% | 0.05% | 0.74% |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | 79.67M | 67.98M | 143.89M | 74.47M | 54.98M | 58.1M | 67.1M | 59.47M | 75.8M | 75.65M | 80.16M | 73.23M | 88.78M | 124.28M | 120.43M | 170.23M | 170.14M | 258.71M | 294.91M | 308.41M |
| Other Investing | 0 | 62.32M | -1.51M | -289K | -1.73M | -2.8M | 141.1M | -769K | -2.91M | 63.96M | -134K | 134K | 236.24M | -220.46M | 236.9M | -236.9M | 87.92M | -439K | 70K | -166K |
| Cash from Financing | 5.03M | -126.09M | -53.25M | -90.11M | -31.12M | -59.96M | -83.1M | 22.52M | -32.6M | -51.64M | -98.19M | -47.19M | -26.07M | -25.92M | -30.55M | 201.08M | -21.03M | -63.49M | -14.88M | 277.3M |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | 3.18M | -56.23M | 3.51M | 0 | -703K | 0 | 0 | 0 | 0 | 0 | -65.16M | 0 | 0 | 0 | 0 | 230M | 0 | 0 | 0 | 302.72M |
| Dividends Paid | -23.92M | -23.92M | -23.71M | -23.59M | -23.01M | -22.9M | -26.57M | -59.9M | -29.43M | -37.12M | -33.27M | -45.34M | -25.17M | -24.88M | -29.73M | -23.55M | -19.06M | -63.04M | -14.43M | -23.26M |
| Share Repurchases | 0 | -56.23M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -883K | -65.16M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -2.3M | -29.25M | -2.53M | -29.97M | -61.31M | -21.24M | -147.19M | -1.46M | -1.36M | -13.66M | 758K | -1.65M | -504K | -538K | -430K | -5M | -1.73M | -262K | -253K | -1.97M |
| Net Change in Cash | 23.26M | 1.8M | -7.53M | 2.65M | -4.91M | 9.38M | 1.97M | 10.93M | -1.48M | -4.82M | -8.4M | 4.23M | 725K | 9.35M | 3.53M | -2.35M | -29.04M | 19.11M | -3.53M | 14.67M |
| Free Cash Flow | 32.34M | 63.63M | 74.42M | 97.81M | 23.08M | 68.31M | 7.45M | 40.15M | 32.58M | 38.17M | 42.23M | 28.72M | -5.92M | 51.47M | 4.58M | 24.86M | 27.02M | 46.99M | -2.93M | 34.33M |
| FCF Margin % | 24.06% | 73.59% | 90.18% | 122.93% | 14.68% | 87.51% | 9.93% | 62.93% | 29.16% | 60.08% | 53.74% | 38.94% | -6.48% | 90.31% | 8.24% | 45.21% | 58.46% | 118.39% | -2.46% | 112.13% |
| FCF Growth % | 40.11% | -6.85% | 899.22% | 143.62% | -29.16% | 78.94% | -82.36% | 39.79% | 650.73% | -25.83% | 821.69% | 15.51% | -121.9% | 9.52% | 256.28% | -27.57% | 513.96% | 15.45% | - | 87.44% |
| FCF per Share | 0.20 | 0.41 | 0.47 | 0.62 | 0.15 | 0.45 | 0.05 | 0.26 | 0.22 | 0.26 | 0.28 | 0.19 | -0.04 | 0.35 | 0.03 | 0.17 | 0.19 | 0.34 | -0.02 | 0.25 |
| FCF Conversion (FCF/Net Income) | 1.04x | 2.93x | 5.98x | 6.39x | 0.47x | 146.79x | 13.69x | 2.72x | 0.84x | 2.46x | 1.20x | 1.70x | -0.20x | 4.62x | 0.48x | 1.43x | 2.12x | 2.22x | -0.04x | 2.41x |
| Interest Paid | 0 | 0 | 5.37M | 0 | 0 | 675K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 259K | 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 |