Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS) Cash Flow: Operating & Free Cash Flow

Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), Companhia de Saneamento Básico do Estado de São Paulo - SABESP generated BRL 8.36B of operating cash flow and spent BRL 13.74B on capital expenditures. That left free cash flow of −BRL 5.38B. It returned BRL 2.84B to shareholders through BRL 2.36B in dividends and BRL 475.38M in share buybacks.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP Cash Flow Statement Analysis

Values in billions BRL

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS) - Annual data in billions BRL
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	11.70	13.64	4.75	4.27	2.31	0.97	4.68	3.91	3.50
Depreciation & Amortization	2.21	2.68	2.79	2.45	2.25	2.04	1.78	1.39	1.30
Change in Working Capital	-0.10	-1.07	-2.66	-2.11	-1.52	-1.08	-0.62	-0.86	-0.97
Change in Accounts Receivable	1.50	-0.77	-1.09	-0.49	-0.74	-0.21	-0.05	-0.07	-0.04
Change in Inventory	0.02	-0.01	0.04	-0.01	-0.01	-0.03	0.00	0.02	-0.03
Change in Accounts Payable	-0.34	-0.44	-0.39	-0.13	-0.17	-0.25	-0.35	-0.18	-0.18
Change in Other Working Capital	-5.50	0.15	-1.21	-4.25	0.85	-0.62	-0.22	-0.63	-0.72
Other Operating Activities	-3.47	-7.84	-0.03	0.46	0.85	2.68	-1.64	-0.60	-0.54
Net Cash from Operating Activities	8.36	7.40	4.85	3.97	3.91	4.98	4.20	3.84	3.30
Investing Activities
Capital Expenditures	-13.74	-0.10	-0.15	-0.07	-0.05	-0.04	-0.08	-0.05	-1.98
Acquisitions	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.00
Purchases of Investments	-32.78	-7.27	-1.57	-0.43	0.00	-3.42	0.00	0.00	0.00
Sales/Maturities of Investments	30.83	5.30	0.82	1.18	1.08	-3.30	0.00	0.00	0.01
Other Investing Activities	0.02	-7.91	-4.01	-0.01	-2.61	-3.31	-3.19	-2.14	0.01
Net Cash from Investing Activities	-15.70	-9.98	-4.91	-2.88	-2.66	-6.77	-3.27	-2.19	-1.97
Financing Activities
Debt Repayment	-4.30	4.62	0.60	-1.54	-2.90	1.53	-0.35	-0.04	-0.09
Common Stock Issued	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Common Stock Repurchased	-0.48	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividends Paid	-2.36	0.00	0.00	-0.60	-0.25	-0.89	-0.74	-0.65	-0.77
Other Financing Activities	-0.88	-1.21	-1.58	-0.61	-0.70	-0.71	-0.61	-0.21	-0.08
Net Cash from Financing Activities	10.32	3.42	-0.98	0.06	-0.93	-0.07	-1.71	-0.91	-0.93
Summary
Effect of Forex Changes on Cash	0.22	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Change in Cash	2.98	0.84	-1.03	1.15	0.32	-1.86	-0.78	0.75	0.40
Cash at Beginning of Period	1.53	0.84	1.87	0.72	0.40	2.25	3.03	2.28	1.89
Cash at End of Period	4.67	1.68	0.84	1.87	0.72	0.40	2.25	3.03	2.28
Free Cash Flow	-5.38	7.30	4.71	3.89	3.86	4.94	4.12	3.79	1.33
Supplemental Disclosures
Interest Paid	-	1.98	1.94	1.51	0.85	0.63	-	-	-
Income Taxes Paid	-	1.76	1.57	1.37	1.21	0.37	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Companhia de Saneamento Básico do Estado de São Paulo - SABESP Cash Flow

What is Companhia de Saneamento Básico do Estado de São Paulo - SABESP's free cash flow?

Companhia de Saneamento Básico do Estado de São Paulo - SABESP had negative free cash flow of BRL 5.38B in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of BRL 8.36B minus BRL 13.74B of capital expenditures.

How much does Companhia de Saneamento Básico do Estado de São Paulo - SABESP spend on capital expenditures?

Companhia de Saneamento Básico do Estado de São Paulo - SABESP spent BRL 13.74B on capital expenditures in fiscal 2025, compared with BRL 100.73M a year earlier. That equals 164.3% of operating cash flow.

Does Companhia de Saneamento Básico do Estado de São Paulo - SABESP pay dividends or buy back shares?

Yes. In fiscal 2025 Companhia de Saneamento Básico do Estado de São Paulo - SABESP returned BRL 2.36B in dividends and BRL 475.38M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition