Banco BBVA Argentina S.A. (BBAR) Cash Flow Statement
Where BBAR’s cash came from and went, 2025
December 31, 2025 · Argentine pesos- Cash from operations
- ARS 1.00T
- Capital expenditures
- ARS 252.62B 4.5% of revenue
- Free cash flow
- ARS 1.63T 28.9% margin
- Returned to shareholders
- ARS 19.81B 1% of free cash flow
- Change in cash
- ARS 1.04T cash at year-end ARS 4.75T
Cash from operations
ARS 1.00T
Capital expenditures
−ARS 252.62B
Acquisitions & other
−ARS 10.80T
Dividends
−ARS 19.81B
Net borrowing (repayment)
+ARS 342.65B
Other financing
+ARS 10.83T
Currency & other
−ARS 59.12B
Change in cash
ARS 1.04T
Drawn to scale: where the cash came from and how it was used. Hover for values.
BBAR operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
BBAR cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | ARS 21.11B2016 | ARS 1.00T2025 | +53.5%/yr | |
| Capital expenditures | ARS 419.6M2016 | ARS 252.62B2025 | +103.6%/yr | |
| Free cash flow | ARS 20.69B2016 | ARS 1.63T2025 | +62.5%/yr | |
| Free cash flow margin | 74.5%2016 | 28.9%2025 | −45.6 pts | |
| Operating cash flow / net income | 5.792016 | 1.922025 | −3.87 | |
| Dividends paid | ARS 1.46B2016 | ARS 19.81B2025 | +33.6%/yr | |
| Share buybacks (net) | ARS 02016 | ARS 02019 | — | |
| Capex / revenue | 1.5%2016 | 4.5%2025 | +3.0 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BBAR cash flow by activity
OperatingInvestingFinancingChange in cash
BBAR net income vs operating cash flow
Net incomeOperating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
BBAR cash flow statement in Argentine pesos
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | ARS 519.82B | ARS 441.08B | ARS 358.31B | ARS 55.44B | ARS 21.08B | ARS 18.10B | ARS 35.81B | ARS 13.73B | ARS 4.48B | ARS 3.64B |
| Depreciation & amortization | ARS 111.10B | ARS 79.61B | ARS 79.87B | ARS 10.97B | ARS 33.86B | ARS 11.95B | ARS 2.00B | ARS 4.03B | ARS 2.20B | ARS 248.1M |
| Change in working capital | −ARS 54.34B | −ARS 7.91T | −ARS 160.37B | −ARS 214.60B | ARS 17.85B | −ARS 63.32B | ARS 17.08B | ARS 37.77B | ARS 3.24B | — |
| Other non-cash items | ARS 423.72B | ARS 2.22T | ARS 323.42B | ARS 261.21B | ARS 43.92B | ARS 23.12B | −ARS 27.69B | −ARS 21.43B | −ARS 694.3M | ARS 17.22B |
| Cash from operating activities | ARS 1.00T | −ARS 5.17T | ARS 601.23B | ARS 113.02B | ARS 116.71B | −ARS 10.14B | ARS 27.21B | ARS 34.10B | ARS 9.22B | ARS 21.11B |
| Investing activities | ||||||||||
| Capital expenditures | −ARS 252.62B | −ARS 164.53B | −ARS 42.15B | −ARS 16.41B | −ARS 8.04B | −ARS 3.15B | −ARS 2.66B | −ARS 1.74B | −ARS 776.0M | −ARS 419.6M |
| Investments (net) | — | −ARS 162.40B | −ARS 43.00B | −ARS 27.15B | −ARS 5.65B | −ARS 2.70B | ARS 839.6M | −ARS 825.7M | −ARS 1.63B | −ARS 2.47B |
| Acquisitions & other investing | −ARS 10.80T | ARS 164.53B | −ARS 8.48B | ARS 16.41B | ARS 2.69B | ARS 3.15B | ARS 1.66B | ARS 1.68B | ARS 776.0M | ARS 419.6M |
| Cash from investing activities | −ARS 11.05T | −ARS 162.40B | −ARS 93.63B | −ARS 27.15B | −ARS 11.00B | −ARS 2.70B | −ARS 155.8M | −ARS 883.6M | −ARS 1.63B | −ARS 2.47B |
| Financing activities | ||||||||||
| Dividends paid | −ARS 19.81B | −ARS 90.61B | −ARS 278.3M | −ARS 2.58B | ARS 0 | −ARS 213.3M | −ARS 2.41B | −ARS 970.9M | −ARS 1.02B | −ARS 1.46B |
| Share repurchases & issuance (net) | — | — | — | — | — | — | ARS 0 | ARS 1.26B | ARS 2.49B | ARS 0 |
| Net borrowing (repayment) | ARS 342.65B | ARS 177.42B | −ARS 58.83B | −ARS 43.96B | −ARS 2.83B | −ARS 7.11B | ARS 365.7M | ARS 340.7M | ARS 372.4M | −ARS 93.4M |
| Shares issued | ARS 0 | ARS 0 | ARS 0 | ARS 0 | ARS 0 | ARS 0 | ARS 750.6M | ARS 0 | ARS 0 | ARS 0 |
| Other financing | ARS 10.83T | ARS 37.58B | ARS 1.49B | ARS 38.03B | −ARS 31.53B | ARS 209.96B | −ARS 2.30B | ARS 4.34B | ARS 3.61B | ARS 153.3M |
| Cash from financing activities | ARS 11.15T | ARS 124.39B | −ARS 57.61B | −ARS 8.51B | −ARS 34.36B | ARS 202.64B | −ARS 3.59B | ARS 4.96B | ARS 5.45B | −ARS 1.40B |
| Summary | ||||||||||
| Net change in cash | ARS 1.04T | ARS 334.96B | ARS 220.30B | −ARS 128.99B | −ARS 68.03B | ARS 234.30B | ARS 57.15B | ARS 60.87B | −ARS 9.33B | ARS 20.49B |
| Cash at end of period | ARS 4.75T | ARS 2.82T | ARS 1.14T | ARS 296.20B | ARS 218.34B | ARS 152.04B | ARS 156.26B | ARS 99.11B | ARS 39.52B | ARS 48.86B |
| Free cash flow | ARS 1.63T | −ARS 5.34T | ARS 559.08B | ARS 96.61B | ARS 108.67B | −ARS 13.29B | ARS 24.55B | ARS 32.35B | ARS 8.45B | ARS 20.69B |
| Free cash flow margin | 28.9% | −1,504.7% | 291.5% | 2.1% | 7.4% | −3.2% | 9.1% | 23.0% | 11.5% | 74.5% |
| Capex / revenue | 4.5% | 46.4% | 22.0% | 0.4% | 0.5% | 0.8% | 1.0% | 1.2% | 1.1% | 1.5% |
| Operating cash flow / net income | 1.92 | −11.73 | 1.68 | 2.04 | 5.54 | −0.56 | 0.76 | 2.48 | 2.06 | 5.79 |
| Sep '26 | Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | ARS 125.33B | ARS 76.87B | ARS 54.37B | ARS 43.35B | ARS 43.35B | ARS 55.36B | ARS 83.15B | ARS 153.87B | ARS 129.48B | ARS 90.54B | ARS 81.62B | ARS 81.62B |
| Depreciation & amortization | — | ARS 32.09B | ARS 37.95B | ARS 27.54B | ARS 27.54B | ARS 18.06B | ARS 20.78B | ARS 21.16B | ARS 25.97B | ARS 16.03B | ARS 14.62B | ARS 13.02B |
| Change in working capital | ARS 352.65B | ARS 671.36B | −ARS 248.32B | ARS 8.70T | ARS 19.67B | −ARS 1.66T | −ARS 1.72T | −ARS 2.25T | −ARS 125.90B | −ARS 2.86T | −ARS 1.94T | −ARS 556.39B |
| Other non-cash items | ARS 598.32B | ARS 908.85B | ARS 677.45B | −ARS 8.53T | ARS 152.13B | −ARS 6.97B | ARS 1.09T | ARS 575.51B | ARS 453.06B | ARS 3.85T | −ARS 126.97B | ARS 576.45B |
| Cash from operating activities | ARS 1.08T | ARS 1.69T | ARS 521.45B | ARS 242.68B | ARS 242.68B | −ARS 1.59T | −ARS 521.26B | −ARS 1.49T | ARS 482.61B | ARS 1.10T | −ARS 1.97T | ARS 114.71B |
| Investing activities | ||||||||||||
| Capital expenditures | −ARS 38.22B | −ARS 25.98B | −ARS 125.27B | −ARS 53.29B | −ARS 53.29B | −ARS 33.73B | −ARS 18.16B | −ARS 12.33B | −ARS 21.95B | −ARS 24.20B | −ARS 30.64B | −ARS 30.64B |
| Investments (net) | — | — | — | — | — | −ARS 33.72B | −ARS 18.04B | −ARS 131.22B | ARS 11.98B | −ARS 18.95B | −ARS 24.20B | −ARS 31.42B |
| Acquisitions & other investing | −ARS 2.74T | −ARS 1.51T | −ARS 12.10B | ARS 1.85B | — | ARS 33.73B | ARS 18.16B | ARS 155.53B | −ARS 8.98B | −ARS 2.06T | ARS 23.42B | ARS 2.49T |
| Cash from investing activities | −ARS 2.78T | −ARS 1.54T | −ARS 137.37B | −ARS 51.44B | — | −ARS 33.72B | −ARS 18.04B | ARS 11.98B | −ARS 18.95B | −ARS 2.10T | −ARS 31.42B | ARS 2.43T |
| Financing activities | ||||||||||||
| Dividends paid | −ARS 24.44B | −ARS 6.88B | −ARS 7.73B | −ARS 7.65B | −ARS 6.55B | −ARS 3.39B | −ARS 6.73B | −ARS 35.00B | −ARS 48.87B | −ARS 166.7M | −ARS 166.7M | −ARS 166.7M |
| Net borrowing (repayment) | — | — | −ARS 238.75B | ARS 87.43B | −ARS 142.10B | ARS 202.19B | ARS 195.13B | ARS 80.80B | ARS 129.08B | — | — | — |
| Shares issued | ARS 0 | ARS 0 | ARS 0 | ARS 0 | ARS 0 | ARS 0 | ARS 0 | ARS 0 | ARS 0 | ARS 0 | ARS 0 | ARS 0 |
| Other financing | ARS 1.75T | −ARS 526.87B | ARS 649.52B | ARS 46.90B | ARS 275.34B | ARS 2.17T | ARS 1.10T | ARS 69.57B | −ARS 118.09B | ARS 1.38T | ARS 2.53T | −ARS 2.22T |
| Cash from financing activities | ARS 1.72T | −ARS 533.75B | ARS 403.04B | ARS 126.68B | ARS 126.68B | ARS 2.37T | ARS 1.29T | ARS 115.36B | −ARS 37.88B | ARS 1.38T | ARS 2.53T | −ARS 2.22T |
| Summary | ||||||||||||
| Net change in cash | — | −ARS 746.90B | ARS 920.58B | ARS 517.62B | −ARS 3.31T | ARS 863.22B | −ARS 614.96B | ARS 1.57T | ARS 177.72B | ARS 371.22B | ARS 664.34B | ARS 664.34B |
| Cash at end of period | — | ARS 4.01T | ARS 4.75T | ARS 3.83T | ARS 3.83T | ARS 3.31T | ARS 2.45T | ARS 3.02T | ARS 1.45T | ARS 371.22B | ARS 1.14T | ARS 1.14T |
| Free cash flow | ARS 1.04T | ARS 1.66T | ARS 396.18B | ARS 189.39B | ARS 189.39B | −ARS 1.63T | −ARS 539.41B | −ARS 1.48T | ARS 460.66B | ARS 1.07T | ARS 84.07B | ARS 84.07B |
| Free cash flow margin | 62.1% | 91.9% | 26.0% | 11.8% | 11.8% | −129.4% | −50.4% | −166.2% | 29.9% | 49.5% | 4.4% | 8.3% |
| Capex / revenue | 2.3% | 1.4% | 8.2% | 3.3% | 3.3% | 2.7% | 1.7% | 1.4% | 1.4% | 1.1% | 1.6% | 3.0% |
| Operating cash flow / net income | 8.59 | 21.97 | 9.59 | 5.60 | 5.60 | −28.77 | −6.27 | −9.71 | 3.73 | 12.11 | −24.09 | 1.41 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in Argentine pesos as reported; data from EODHD.
BBAR cash generation
In fiscal 2025 (ended December 31, 2025), Banco BBVA Argentina generated ARS 1.00 trillion of cash from operations and spent ARS 252.6 billion on capital expenditures, leaving free cash flow of ARS 1.63 trillion, 28.9% of revenue. It returned ARS 19.8 billion to shareholders through dividends (ARS 19.8 billion) and net share buybacks (ARS 0). Cash and equivalents rose by ARS 1.04 trillion over the year.
Related: BBAR income statement, BBAR balance sheet, BBAR dividend history. See the BBAR stock overview for the latest quote and news.
BBAR cash flow FAQ
What is Banco BBVA Argentina's free cash flow?
Banco BBVA Argentina's free cash flow was ARS 1.63 trillion in fiscal 2025: ARS 1.00 trillion of operating cash flow minus ARS 252.6 billion of capital expenditures It was -ARS 5.34 trillion a year earlier..
How much cash does Banco BBVA Argentina generate from operations?
Banco BBVA Argentina generated ARS 1.00 trillion of cash from operating activities in fiscal 2025, 1.92 times its net income of ARS 519.8 billion.
How much does Banco BBVA Argentina spend on capital expenditures?
Banco BBVA Argentina spent ARS 252.6 billion on capital expenditures in fiscal 2025, 4.5% of revenue, compared with ARS 164.5 billion the year before.
How much does Banco BBVA Argentina pay in dividends?
Banco BBVA Argentina paid ARS 19.8 billion in dividends in fiscal 2025, 1.2% of free cash flow.