Grupo Cibest S.A. (CIB) Cash Flow Statement
Where CIB’s cash came from and went, 2025
December 31, 2025 · COP- Cash from operations
- COP 12.26T +2,712.4% vs 2024
- Capital expenditures
- COP 2.24T 5.2% of revenue
- Free cash flow
- COP 10.01T 23.3% margin
- Returned to shareholders
- COP 5.63T 56% of free cash flow
- Change in cash
- COP 590.06B cash at year-end COP 33.43T
Cash from operations
COP 12.26T
Capital expenditures
−COP 2.24T
Investments (net)
−COP 192.89B
Acquisitions & other
+COP 221.02B
Dividends
−COP 5.20T
Share buybacks (net)
−COP 431.42B
Net borrowing (repayment)
−COP 2.63T
Currency & other
−COP 1.19T
Change in cash
COP 590.06B
Drawn to scale: where the cash came from and how it was used. Hover for values.
CIB operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
CIB cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | COP 3.60T2016 | COP 12.26T2025 | +14.6%/yr | |
| Capital expenditures | COP 1.08T2016 | COP 2.24T2025 | +8.4%/yr | |
| Free cash flow | COP 2.52T2016 | COP 10.01T2025 | +16.6%/yr | |
| Free cash flow margin | 12.9%2016 | 23.3%2025 | +10.5 pts | |
| Operating cash flow / net income | 1.222016 | 3.112025 | +1.89 | |
| Stock-based compensation | COP 10.97T2016 | COP 21.77T2023 | +10.3%/yr | |
| Dividends paid | COP 840.24B2016 | COP 5.20T2025 | +22.4%/yr | |
| Share buybacks (net) | COP 02016 | COP 431.42B2025 | — | |
| Capex / revenue | 5.5%2016 | 5.2%2025 | −0.3 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CIB cash flow by activity
OperatingInvestingFinancingChange in cash
CIB 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).
CIB cash flow statement in COP
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | COP 3.94T | COP 6.37T | COP 6.21T | COP 7.00T | COP 4.21T | COP 315.36B | COP 3.21T | COP 2.79T | COP 2.75T | COP 2.95T |
| Depreciation & amortization | COP 1.06T | COP 1.01T | COP 1.08T | COP 949.45B | COP 855.17B | COP 736.37B | COP 677.25B | COP 467.78B | COP 433.03B | COP 482.90B |
| Stock-based compensation | — | — | COP 21.77T | — | COP 11.44T | COP 14.60T | COP 13.64T | COP 13.59T | COP 12.26T | COP 10.97T |
| Change in working capital | −COP 784.79B | −COP 14.18T | COP 4.82T | −COP 5.36T | −COP 2.46T | COP 5.04T | COP 2.91T | −COP 6.57T | −COP 4.42T | −COP 3.12T |
| Other non-cash items | COP 8.05T | COP 7.24T | −COP 14.73T | COP 3.98T | −COP 7.94T | −COP 9.46T | −COP 8.13T | −COP 9.23T | −COP 8.10T | −COP 7.69T |
| Cash from operating activities | COP 12.26T | COP 435.89B | COP 19.15T | COP 6.56T | COP 6.10T | COP 11.23T | COP 12.32T | COP 1.04T | COP 2.94T | COP 3.60T |
| Investing activities | ||||||||||
| Capital expenditures | −COP 2.24T | −COP 2.04T | −COP 2.41T | −COP 3.54T | −COP 2.19T | −COP 1.53T | −COP 1.56T | −COP 1.01T | −COP 1.13T | −COP 1.08T |
| Investments (net) | −COP 192.89B | −COP 559.20B | −COP 159.69B | −COP 4.65T | −COP 650.49B | −COP 6.15T | −COP 2.19T | −COP 1.38T | −COP 1.91T | −COP 1.03T |
| Acquisitions & other investing | COP 221.02B | COP 2.04T | COP 2.41T | COP 3.54T | COP 2.19T | COP 162.63B | COP 1.56T | COP 1.01T | COP 1.13T | COP 1.08T |
| Cash from investing activities | −COP 2.22T | −COP 559.20B | −COP 159.69B | −COP 4.65T | −COP 650.49B | −COP 7.52T | −COP 2.19T | −COP 1.38T | −COP 1.91T | −COP 1.03T |
| Financing activities | ||||||||||
| Dividends paid | −COP 5.20T | −COP 3.40T | −COP 3.30T | −COP 2.31T | −COP 467.22B | −COP 1.56T | −COP 1.03T | −COP 735.80B | −COP 1.13T | −COP 840.24B |
| Share repurchases & issuance (net) | −COP 431.42B | COP 0 | COP 0 | — | — | — | COP 0 | COP 0 | COP 0 | COP 0 |
| Net borrowing (repayment) | −COP 2.63T | −COP 6.38T | −COP 2.40T | COP 3.78T | −COP 4.89T | −COP 3.32T | −COP 4.23T | −COP 357.08B | −COP 2.49T | COP 496.40B |
| Shares issued | COP 0 | COP 0 | COP 0 | COP 0 | COP 0 | COP 0 | COP 0 | COP 0 | COP 0 | COP 0 |
| Other financing | COP 15.93B | COP 531.06B | COP 263.60B | −COP 616.68B | −COP 1.46T | −COP 41.19B | COP 0 | COP 360.17B | COP 0 | COP 0 |
| Cash from financing activities | −COP 8.25T | −COP 9.24T | −COP 5.43T | COP 853.44B | −COP 6.81T | −COP 4.92T | −COP 5.26T | −COP 732.71B | −COP 3.62T | −COP 343.84B |
| Summary | ||||||||||
| Net change in cash | COP 590.06B | −COP 6.96T | COP 8.15T | COP 6.32T | COP 1.63T | −COP 36.89B | COP 5.01T | COP 565.17B | −COP 2.29T | COP 1.65T |
| Cash at end of period | COP 33.43T | COP 32.84T | COP 39.80T | COP 31.65T | COP 25.33T | COP 23.70T | COP 23.74T | COP 18.73T | COP 18.17T | COP 20.46T |
| Free cash flow | COP 10.01T | −COP 1.61T | COP 16.74T | COP 3.03T | COP 3.91T | COP 9.70T | COP 10.76T | COP 28.77B | COP 1.81T | COP 2.52T |
| Free cash flow margin | 23.3% | −3.7% | 37.1% | 9.3% | 18.0% | 44.9% | 49.1% | 0.1% | 8.7% | 12.9% |
| Capex / revenue | 5.2% | 4.8% | 5.3% | 10.8% | 10.1% | 7.1% | 7.1% | 5.0% | 5.4% | 5.5% |
| Operating cash flow / net income | 3.11 | 0.07 | 3.08 | 0.94 | 1.45 | 35.61 | 3.83 | 0.37 | 1.07 | 1.22 |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | COP 2.73T | COP 1.49T | −COP 1.81T | COP 2.16T | COP 1.83T | COP 1.76T | COP 1.70T | COP 1.52T | COP 1.46T | COP 1.69T | COP 1.45T | COP 1.52T |
| Depreciation & amortization | COP 238.29B | COP 242.49B | COP 297.66B | COP 248.13B | COP 253.61B | COP 256.60B | COP 261.64B | COP 252.76B | COP 248.31B | COP 248.74B | COP 304.79B | COP 267.72B |
| Change in working capital | −COP 4.57T | −COP 2.03T | COP 3.36T | −COP 4.30T | COP 3.11T | −COP 2.96T | COP 6.89T | −COP 8.12T | COP 1.85T | −COP 14.79T | COP 8.11T | COP 1.24T |
| Other non-cash items | COP 9.35T | COP 1.03T | COP 5.06T | COP 544.85B | COP 1.06T | COP 1.38T | COP 2.29T | COP 1.75T | COP 1.74T | COP 1.45T | COP 2.29T | COP 1.54T |
| Cash from operating activities | COP 7.75T | COP 721.37B | COP 6.92T | −COP 1.35T | COP 6.26T | COP 432.85B | COP 11.14T | −COP 4.59T | COP 5.29T | −COP 11.41T | COP 12.16T | COP 4.56T |
| Investing activities | ||||||||||||
| Capital expenditures | −COP 482.94B | −COP 352.96B | −COP 984.63B | −COP 521.95B | −COP 456.34B | −COP 281.31B | −COP 931.69B | −COP 331.92B | −COP 529.67B | −COP 248.81B | −COP 643.45B | −COP 373.92B |
| Investments (net) | COP 1.17T | −COP 1.21T | −COP 36.63B | −COP 502.04B | −COP 623.81B | −COP 78.14B | −COP 1.08T | COP 175.03B | COP 158.55B | COP 183.71B | COP 1.31T | −COP 74.12B |
| Acquisitions & other investing | −COP 12.02T | COP 73.20B | COP 9.15B | COP 521.95B | COP 456.34B | COP 281.31B | COP 931.69B | COP 300.99B | COP 545.92B | COP 263.49B | COP 643.45B | −COP 30.63B |
| Cash from investing activities | −COP 11.33T | −COP 1.49T | −COP 1.01T | −COP 502.04B | −COP 623.81B | −COP 78.14B | −COP 1.08T | COP 144.09B | COP 174.80B | COP 198.39B | COP 1.31T | −COP 478.68B |
| Financing activities | ||||||||||||
| Dividends paid | −COP 2.28T | COP 0 | −COP 313.0M | −COP 32.0M | −COP 4.35T | −COP 849.44B | −COP 849.41B | −COP 849.73B | −COP 850.29B | −COP 849.32B | −COP 849.43B | −COP 849.82B |
| Share repurchases & issuance (net) | −COP 261.29B | −COP 251.76B | −COP 70.79B | −COP 360.63B | COP 0 | COP 0 | — | — | — | — | — | — |
| Net borrowing (repayment) | −COP 354.91B | −COP 499.32B | −COP 533.91B | COP 1.60T | −COP 339.52B | −COP 3.36T | −COP 924.75B | −COP 2.15T | — | — | — | −COP 2.59T |
| Shares issued | COP 0 | COP 0 | COP 0 | COP 0 | COP 0 | COP 0 | COP 0 | COP 0 | COP 0 | COP 0 | COP 0 | COP 0 |
| Other financing | COP 7.28T | COP 1.33T | −COP 2.16T | −COP 730.93B | COP 2.70T | COP 208.78B | −COP 1.81T | COP 2.25T | −COP 1.84T | −COP 1.37T | −COP 88.07B | −COP 18.47B |
| Cash from financing activities | COP 4.38T | COP 574.46B | −COP 2.77T | COP 509.09B | −COP 1.98T | −COP 4.00T | −COP 3.58T | −COP 749.52B | −COP 2.69T | −COP 2.22T | −COP 937.50B | −COP 3.45T |
| Summary | ||||||||||||
| Net change in cash | −COP 33.09T | −COP 341.16B | COP 2.94T | −COP 858.80B | COP 3.08T | −COP 4.57T | COP 6.47T | −COP 5.09T | COP 4.78T | −COP 13.11T | COP 10.78T | COP 321.73B |
| Cash at end of period | COP 30.99T | COP 33.09T | COP 33.43T | COP 30.50T | COP 31.36T | COP 28.28T | COP 32.84T | COP 26.38T | COP 31.47T | COP 26.69T | COP 39.80T | COP 29.02T |
| Free cash flow | COP 7.26T | COP 368.41B | COP 5.93T | −COP 1.87T | COP 5.80T | COP 151.54B | COP 10.21T | −COP 4.92T | COP 4.77T | −COP 11.66T | COP 11.52T | COP 4.18T |
| Free cash flow margin | 63.2% | 3.5% | 50.7% | −17.6% | 55.1% | 1.5% | 92.7% | −46.0% | 44.3% | −108.2% | 100.1% | 38.0% |
| Capex / revenue | 4.2% | 3.4% | 8.4% | 4.9% | 4.3% | 2.7% | 8.5% | 3.1% | 4.9% | 2.3% | 5.6% | 3.4% |
| Operating cash flow / net income | 2.84 | 0.49 | — | −0.63 | 3.42 | 0.25 | 6.55 | −3.02 | 3.62 | −6.77 | 8.38 | 3.01 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in COP as reported; data from EODHD.
CIB cash generation
In fiscal 2025 (ended December 31, 2025), Grupo Cibest generated COP 12.26 trillion of cash from operations (up 2,712.4%) and spent COP 2.24 trillion on capital expenditures, leaving free cash flow of COP 10.01 trillion, 23.3% of revenue. It returned COP 5.63 trillion to shareholders through dividends (COP 5.20 trillion) and net share buybacks (COP 431.4 billion). Cash and equivalents rose by COP 590.1 billion over the year.
Related: CIB income statement, CIB balance sheet, CIB dividend history. See the CIB stock overview for the latest quote and news.
CIB cash flow FAQ
What is Grupo Cibest's free cash flow?
Grupo Cibest's free cash flow was COP 10.01 trillion in fiscal 2025: COP 12.26 trillion of operating cash flow minus COP 2.24 trillion of capital expenditures It was -COP 1.61 trillion a year earlier..
How much cash does Grupo Cibest generate from operations?
Grupo Cibest generated COP 12.26 trillion of cash from operating activities in fiscal 2025, 3.11 times its net income of COP 3.94 trillion.
How much does Grupo Cibest spend on capital expenditures?
Grupo Cibest spent COP 2.24 trillion on capital expenditures in fiscal 2025, 5.2% of revenue, compared with COP 2.04 trillion the year before.
How much stock does Grupo Cibest buy back?
Grupo Cibest spent COP 431.4 billion on net share repurchases in fiscal 2025.
How much does Grupo Cibest pay in dividends?
Grupo Cibest paid COP 5.20 trillion in dividends in fiscal 2025, 51.9% of free cash flow.