TIM S.A. (TIMB) quarterly cash flow statement — complete operating, investing & financing history
| Metric | 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 | Q2'21 |
|---|
| Cash from Operations | 2.67B | 4.27B | 3.7B | 2.97B | 2.5B | 4.52B | 3.48B | 2.69B | 1.65B | 4.85B | 3.48B | 2.11B | 1.98B | 3.5B | 3.47B | 1.17B | 1.12B | 3.12B | 2.77B | 2.23B |
| Operating CF Margin % | 39.17% | 61.71% | 55.18% | 45.01% | 39.04% | 68.19% | 54.18% | 42.63% | 27% | 77.27% | 57.54% | 36.02% | 35.02% | 60.13% | 61.89% | 21.86% | 23.69% | 65.08% | 61.46% | 50.66% |
| Operating CF Growth % | 6.81% | -5.55% | 6.47% | 10.58% | 51.67% | -6.76% | -0.18% | 27.19% | -16.69% | 38.46% | 0.34% | 79.99% | 76.37% | 12.14% | 25.24% | -47.44% | -42.56% | -15.57% | 26.69% | -3.1% |
| Net Income | 984.66M | 1.33B | 1.21B | 1.17B | 693.67M | 1.14B | 805.03M | 924.27M | 587.93M | 1.2B | 812.55M | 613.02M | 556.13M | 620.85M | 359.88M | 273.18M | 467M | 822M | 544.17M | 672.22M |
| Depreciation & Amortization | 1.74B | 1.78B | 1.78B | 1.78B | 1.75B | 1.73B | 1.79B | 1.76B | 1.75B | 1.75B | 1.76B | 1.83B | 1.78B | 1.86B | 1.88B | 1.69B | 1.4B | 1.44B | 1.4B | 1.42B |
| Stock-Based Compensation | 0 | 4.18M | 1.07M | 0 | 0 | -827K | 9.07M | 9.57M | 4.54M | 6.11M | -41.21M | 5.1M | 5.71M | 8.88M | -31.63M | 0 | 0 | -221K | 7.17M | 6.13M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 720.19M | 1.87B | 615.06M | 564.11M | 805.87M | 727.26M | 927.07M | 601.32M | 814.12M | 504.76M | 843.13M | 349.4M | 487.74M | 677.18M | 679.3M | 584.64M | 663M | 483.22M | 402.84M | 388.81M |
| Working Capital Changes | -777.48M | -716.33M | 100.45M | -543.21M | -749.5M | 931.15M | -53.55M | -604.16M | -1.52B | 1.39B | 114.35M | -689.97M | -851.37M | 336.92M | 584.77M | -1.37B | -1.41B | 382M | 414.66M | -258.7M |
| Change in Receivables | -343.69M | -548.54M | 119.26M | -486.91M | 26.56M | -462.69M | -204.9M | -316.51M | -277.56M | -208.87M | -1.14B | 697.96M | -132.3M | -91.67M | -39.13M | -103.63M | 300M | -252M | -298.33M | -151.22M |
| Change in Inventory | -30.28M | -3.76M | 4.78M | -28.69M | -36.01M | 88.73M | 33.64M | -11.21M | -72.91M | 83.59M | -40.94M | -73.29M | -65.02M | 41.85M | 2.18M | -57.59M | -20M | 29M | -5.42M | 75.28M |
| Change in Payables | 63.5M | 0 | 0 | -19.66M | -438.78M | 1.3B | 2.23M | -285.45M | -707.76M | 751.73M | 1.32B | -1.34B | -382.28M | 841.74M | 160.54M | 8.34M | -253M | 611M | 54.77M | 0 |
| Cash from Investing | -904.59M | -184.03M | -1.24B | -800.62M | -1.33B | -1.7B | -1.75B | -776.3M | -731.94M | -2.89B | -1.54B | -836.86M | 583M | -2.21B | -1.29B | -4.13B | -831M | -2.33B | -825.85M | -2.68B |
| Capital Expenditures | -1.35B | -1.35B | -973.88M | -881.98M | -1.34B | -1.37B | -1.75B | -924.96M | -1.35B | -2.89B | -1.54B | -925.71M | -1.29B | -2.21B | -977.6M | -4.13B | -1.33B | -2.16B | -896.52M | -2.68B |
| CapEx % of Revenue | 19.89% | 19.46% | 14.51% | 13.36% | 20.94% | 20.73% | 27.23% | 14.68% | 22.22% | 45.98% | 25.5% | 15.79% | 22.85% | 37.86% | 17.42% | 76.97% | 28.09% | 44.96% | 19.87% | 60.76% |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 10.61M | 1.16B | -269.5M | -2.89M | 67.52M | 7.76M | 6.15M | 7.34M | 3.13M | -17.59M | -546.17M | 88.85M | -9.37M | -777.5M | 6.33M | 3.14B | 497M | -1.27B | 70.68M | -1.77B |
| Cash from Financing | -1.35B | -4.15B | -1.78B | -2.02B | -1.58B | -1.85B | -1.55B | -1.78B | -2.01B | -2.49B | -1.4B | -1.76B | -1.55B | -1.04B | -1.08B | 153.27M | -1.51B | 369M | -1.63B | 1.48B |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | 0 | -392.13M | -308.23M | -34.88M | -13.02M | 32.38M | -26.86M | -40.31M | -4.69M | 0 | -2.82M | 0 | 0 | 1.49M | 28.28M | 0 | 0 | 165K | 4.88M | -17.51M |
| Dividends Paid | -478.15M | -3.63B | -108.12M | -956.33M | -670.04M | -723.58M | -725.07M | -626.34M | -645.11M | -418.58M | -285.6M | -815.89M | -654.86M | -265.8M | -266.21M | -192.19M | -475M | -212M | -296.76M | -47.89M |
| Share Repurchases | 0 | -392.13M | -308.23M | -34.88M | -13.02M | 32.38M | -26.86M | -40.31M | -4.69M | 0 | -2.82M | 0 | 0 | 0 | 25.08M | 0 | 0 | 165K | 4.88M | -17.51M |
| Other Financing | -492.92M | 331.77M | -897.48M | -505.19M | -401.75M | -468.15M | -374.11M | -536.65M | -393.46M | -620.51M | -604.04M | -397.35M | -397.79M | -135.09M | -361.76M | -479.68M | -278M | 579.84M | -1.68B | 2.49B |
| Net Change in Cash | 411.44M | -63.21M | 678.92M | 154.25M | -418.38M | 971.41M | 176.18M | 126.47M | -1.09B | -530.88M | 541.8M | -488.08M | 1.01B | 253.18M | 1.1B | -2.8B | -1.23B | 1.16B | 318.45M | 1.03B |
| Free Cash Flow | 1.31B | 2.92B | 2.73B | 2.09B | 1.16B | 3.15B | 1.73B | 1.76B | 291.14M | 1.96B | 1.94B | 1.19B | 686.79M | 1.3B | 2.49B | -2.96B | -208M | 966M | 1.88B | -445.26M |
| FCF Margin % | 19.28% | 42.25% | 40.67% | 31.65% | 18.09% | 47.46% | 26.95% | 27.95% | 4.78% | 31.29% | 32.04% | 20.23% | 12.18% | 22.27% | 44.46% | -55.11% | -4.4% | 20.13% | 41.59% | -10.1% |
| FCF Growth % | 13.42% | -7.08% | 57.76% | 18.57% | 297.34% | 60.25% | -10.83% | 48.48% | -57.61% | 51.42% | -22.25% | 140.1% | 430.19% | 34.25% | 32.98% | -564.4% | -133.23% | -56.77% | 1949.28% | -127.3% |
| FCF per Share | 2.75 | 6.10 | 5.65 | 4.32 | 2.39 | 6.50 | 3.57 | 3.64 | 0.60 | 4.06 | 4.01 | 2.45 | 1.42 | 2.68 | 4.46 | -6.12 | -0.43 | 2.00 | 3.88 | -0.92 |
| FCF Conversion (FCF/Net Income) | 3.26x | 3.21x | 3.07x | 3.05x | 3.13x | 4.31x | 4.32x | 3.44x | 3.17x | 4.48x | 4.87x | 3.37x | 4.79x | 6.51x | 7.76x | 4.20x | 2.76x | 3.08x | 2.79x | 3.32x |
| Interest Paid | 0 | 482.68M | 430.7M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 217.98M |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |