Nexa Resources S.A. cash flow statement NEXA

Annual Quarterly

In fiscal 2025, which ended Dec 31, 2025, Nexa Resources S.A. generated $365.0 million of cash from operations, up 3.9% from the year before. It spent $351.9 million on capital expenditures. That left free cash flow of $13.1 million. The company returned $34.3 million in dividends to shareholders.

USD in millions, except per-share amounts and ratios. The percent under a figure is the change from the year before.

Line	FY 2025 Dec 31, 2025	FY 2024 Dec 31, 2024	FY 2023 Dec 31, 2023	FY 2022 Dec 31, 2022	FY 2021 Dec 31, 2021	FY 2020 Dec 31, 2020	FY 2019 Dec 31, 2019	FY 2018 Dec 31, 2018	FY 2017 Dec 31, 2017
Operating
Depreciation and amortization	—	—	-298	—	-259 -206.1%	244 -23.3%	318 +19.0%	267 -1.2%	270
Operating cash flow	365 +3.9%	351 +37.2%	256 -4.7%	269 -45.4%	493 +69.0%	292 +137.5%	123 -64.7%	348 -8.3%	379
Investing
Capital expenditures	352 +35.9%	259 -16.5%	310 -18.9%	382 -21.2%	485 +49.9%	324 -18.4%	397	—	198
Investing cash flow	-297	—	—	—	—	-369 -10.1%	-335 -112.1%	-158 +51.9%	-328
Financing
Debt issued	542 -32.2%	799 +1317.2%	56 -41.0%	96 +60.0%	60 -95.4%	1,296 +1120.5%	106 -63.9%	295 -64.5%	831
Debt repaid	633 -7.1%	681 +2415.9%	27 +9.9%	25 -90.2%	251 -53.8%	543 +2693.6%	19 -93.4%	295 -45.1%	537
Dividends paid	34 +120.7%	16 -34.5%	24 -65.4%	68 +30.8%	52 -6.5%	56 -50.6%	113 +3163.0%	3 -94.4%	62
Stock buybacks	—	—	—	—	—	—	8 +499.3%	1	—
Financing cash flow	-185 -396.7%	62 +280.3%	-35 +77.1%	-152 +56.0%	-344 -176.2%	452 +478.6%	-119 +32.8%	-177 -435.7%	53
Change in cash
Effect of exchange rate	13 +202.4%	-12 -251.2%	8 -47.1%	16 +170.9%	-22 -36.4%	-16 -552.7%	-2 -235.6%	2 +3683.3%	0
Net change in cash	-105 -164.1%	163 +502.5%	-41 +83.5%	-246 +28.1%	-342 -188.3%	388 +215.9%	-334 -2505.0%	14 -86.6%	103
Free cash flow	13 -85.8%	92 +271.2%	-54 +52.5%	-114 -1558.7%	8 +124.3%	-32 +88.3%	-274	—	181
Per share
Free cash flow per share	0.10 -85.8%	0.70 +271.2%	-0.41	—	—	—	—	—	—
Dividend per share	—	—	—	0.33 +26.9%	0.26 -31.6%	0.38 -28.3%	0.53	—	—
Shareholder returns
Returned to shareholders	34	16	24	68	52	56	121	5	62
Share of free cash flow	261.82%	16.81%	—	—	672.72%	—	—	—	33.95%
Ratios
Free cash flow margin	0.44%	3.34%	-2.10%	-3.74%	0.30%	-1.64%	-11.74%	—	7.40%
Capital expenditures to revenue	11.72%	9.36%	12.05%	12.61%	18.50%	16.59%	17.00%	—	8.07%
Cash conversion	1.64x	—	—	3.49x	3.16x	—	—	3.73x	2.29x

How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and ratios. Capital expenditures, debt repaid, dividends, and buybacks are positive amounts. Investing and financing cash flow keep the filing sign, so an outflow is negative. Free cash flow is operating cash flow minus capital expenditures. Returned to shareholders is dividends plus buybacks. Free cash flow margin, capital expenditures, and stock-based compensation are divided by revenue. Cash conversion is operating cash flow divided by net income. More on our methodology.

Company profile

Industry: Metal Mining (SIC 1000)
Listed as: NEXA (NYSE)
Fiscal year ends: December 31
Incorporated in: Luxembourg
Headquarters: Luxembourg
SEC filer status: Accelerated filer
SEC CIK: 1713930
Former names: VM Holding S.A. (until Sep 21, 2017)

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.