Telefônica Brasil S.A. (VIV) 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 | 5.2B | 5.25B | 4.61B | 5.87B | 5.09B | 4.57B | 4.66B | 5.72B | 4.93B | 3.83B | 4.74B | 5.44B | 4.77B | 4.68B | 5.11B | 4.69B | 4.46B | 4.09B | 5.33B | 4.08B |
| Operating CF Margin % | 34.27% | 33.1% | 30.83% | 40.1% | 35.38% | 31.34% | 33.2% | 41.82% | 36.36% | 28.33% | 36.15% | 42.74% | 37.5% | 36.93% | 41.92% | 39.66% | 39.29% | 35.52% | 48.32% | 38.3% |
| Operating CF Growth % | 2.11% | 14.79% | -1.1% | 2.65% | 3.36% | 19.17% | -1.66% | 5.14% | 3.25% | -17.99% | -7.33% | 15.96% | 6.97% | 14.45% | -4.06% | 15.05% | -2.58% | -4.48% | 0.9% | -21.92% |
| Net Income | 1.24B | 1.91B | 1.89B | 1.34B | 1.06B | 2.09B | 1.76B | 1.22B | 1.22B | 1.6B | 1.55B | 1.12B | 834.67M | 1.36B | 1.69B | 876.24M | 909.44M | 1.46B | 1.64B | 1.62B |
| Depreciation & Amortization | 3.81B | 3.88B | 3.72B | 3.69B | 3.71B | 3.76B | 3.66B | 2.84B | 3.37B | 3.5B | 3.42B | 3.21B | 3.26B | 3.26B | 3.23B | 3.1B | 3.07B | 3.07B | 3.05B | 3.01B |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 38.53M | 0 | 0 | 0 | 17.87M | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 167.37M | 0 | 0 | -38.53M | 319.47M | 179.93M | 149.52M | 129.59M | 85.48M | 875.28M |
| Other Non-Cash Items | 929.49M | 566.74M | -764.38M | 1.13B | 912.08M | -571.31M | 86.34M | 1.64B | 605.85M | -2.24B | 484.23M | 8.37B | 6.41B | -263.93M | 618.08M | 407.9M | 668.83M | 555M | 590.77M | 408.63M |
| Working Capital Changes | -779.86M | -1.11B | -233.16M | -288.85M | -594.43M | -708.25M | -848.92M | 15.61M | -270.7M | 966.85M | -321.43M | -34.55M | 8.84M | 319.36M | -418.4M | 131.45M | -342.29M | -562.09M | 524.31M | -2.29B |
| Change in Receivables | -294.52M | -1.7B | -1.06B | -120.19M | -621.47M | -761.37M | -524.45M | -270.01M | -550.65M | -560.07M | -837.57M | -297.49M | -385.3M | -419.55M | 289.33M | -292.5M | -431.61M | -489.72M | -449.33M | -131.22M |
| Change in Inventory | -278.86M | 345.5M | -263.51M | 182.74M | -117.11M | 103.76M | -182.65M | -10.23M | -222.12M | 47.87M | -147.85M | 349.08M | -349.93M | -23.59M | 18.09M | -5.28M | -168.82M | -40.17M | 59.39M | 320.91M |
| Change in Payables | 488.64M | 297.94M | 0 | -412.37M | 762.63M | -184.3M | -104.28M | 222.29M | 1.16B | 36.77M | 114.61M | -863.12M | 1.51B | 282.96M | -362.58M | -137.35M | 448.85M | 222.09M | 179M | -633.65M |
| Cash from Investing | -2.2B | -3.35B | -2.16B | -2.15B | -2.38B | -2.68B | -2.17B | -2.15B | -1.91B | -2.25B | -2.07B | -2.35B | -1.18B | -3.2B | -2.63B | -6.8B | -1.57B | -2.43B | -1.89B | -1.98B |
| Capital Expenditures | -2.37B | -2.48B | -2.36B | -2.24B | -2.42B | -2.7B | -2.4B | -2.22B | -2B | -2.66B | -2.34B | -2.49B | -1.32B | -2.92B | -2.96B | -6.8B | -1.82B | -2.74B | -2.42B | -2.16B |
| CapEx % of Revenue | 15.61% | 15.65% | 15.76% | 15.32% | 16.83% | 18.54% | 17.09% | 16.21% | 14.8% | 19.68% | 17.85% | 19.53% | 10.39% | 23.06% | 24.3% | 57.45% | 15.99% | 23.82% | 21.97% | 20.32% |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -5 | -5 | 235.59M | 94.31M | 84.25M | 130.76M | 96.22M | 38.44M | 0 | 304.31M | 13.63M | 36.66M | 39.05M | -289.23M | 16.33M | -4.67B | 242.55M | 313.03M | 537.7M | 182.01M |
| Cash from Financing | -1B | -1.66B | -5.1B | -2.45B | -1.21B | -1.99B | -3.05B | -2.97B | -618.35M | -1.78B | -3.52B | -2.87B | -687.47M | -5.23B | 411.46M | -1.19B | -2.9B | -3.9B | -3.17B | -582.41M |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | 82.42K | -503.36M | -2.67B | -475.23M | -326.48M | -325.95M | -2.18B | -257.03M | 0 | -202.19M | -73.2M | -141.4M | -71.97M | -149.95M | -144.11M | -197.91M | -115.48M | -113.09M | -239.64M | -67.56M |
| Dividends Paid | -376.81K | -334.36M | -380K | -1.87B | -137K | -710.82M | -219K | -1.82B | -164K | -329.02M | -1.78B | -1.72B | -1.32M | -3.44B | -2.27B | -237K | -213K | -2.72B | -2.19B | -150K |
| Share Repurchases | 0 | -504.01M | -2.67B | -475.23M | -326.48M | -325.95M | -2.18B | -257.03M | 0 | -202.19M | -73.2M | -141.4M | -71.97M | -149.95M | -144.11M | -197.91M | -115.48M | -113.09M | -239.64M | -67.56M |
| Other Financing | -50.88M | 123.76M | -19.2M | 926.4M | -16.9M | 40.02M | 12.55M | 22.82M | 319K | -8.07M | 1.6M | -78.74M | -21.99M | -102.95M | -27.57M | 26.59M | -6.68M | 25.99M | 20.46M | -14.53M |
| Net Change in Cash | 2.35B | 36.29M | -2.66B | 1.27B | 1.49B | -107.62M | -556.25M | 599.22M | 2.4B | -197.24M | -849.3M | 224.28M | 2.39B | -3.75B | 2.89B | -3.3B | -17.96M | -2.24B | 275.33M | 1.51B |
| Free Cash Flow | 2.83B | 2.76B | 2.25B | 3.63B | 2.67B | 1.87B | 2.26B | 3.5B | 2.92B | 1.17B | 2.4B | 2.96B | 3.45B | 1.76B | 2.15B | -2.1B | 2.64B | 1.35B | 2.91B | 1.92B |
| FCF Margin % | 18.66% | 17.45% | 15.07% | 24.78% | 18.55% | 12.8% | 16.11% | 25.62% | 21.56% | 8.65% | 18.3% | 23.21% | 27.11% | 13.87% | 17.63% | -17.79% | 23.29% | 11.7% | 26.35% | 17.98% |
| FCF Growth % | 6.04% | 48.17% | -0.38% | 3.57% | -8.59% | 59.36% | -5.75% | 18.57% | -15.31% | -33.33% | 11.59% | 240.41% | 30.41% | 30.51% | -26.03% | -209.91% | 1.35% | -24.1% | -22.72% | -37.96% |
| FCF per Share | 1.77 | 1.73 | 1.41 | 2.27 | 1.64 | 1.14 | 1.38 | 2.12 | 1.77 | 0.71 | 1.45 | 1.78 | 2.07 | 1.05 | 1.29 | -1.26 | 1.58 | 0.80 | 1.73 | 1.14 |
| FCF Conversion (FCF/Net Income) | 4.20x | 2.75x | 2.44x | 4.37x | 4.81x | 2.59x | 2.79x | 4.68x | 5.50x | 2.40x | 3.22x | 4.85x | 5.72x | 4.15x | 3.55x | 6.15x | 5.90x | 1.55x | 4.05x | 3.03x |
| Interest Paid | 0 | 0 | 826.23M | 391.15M | 625.21M | 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 |