BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (LND) Cash Flow Statement
Where LND’s cash came from and went, FY2026
June 30, 2026 · Brazilian reais- Cash from operations
- R$97.4M +22.6% vs FY2024
- Capital expenditures
- R$66.2M 7.2% of revenue
- Free cash flow
- R$31.2M 3.4% margin
- Returned to shareholders
- R$77.7M 249% of free cash flow
- Change in cash
- R$34.9M cash at year-end R$178.3M
Drawn to scale: where the cash came from and how it was used. Hover for values.
LND operating cash flow, capex and free cash flow
LND cash flow trends, FY2016–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −R$17.8MFY2016 | R$97.4MFY2026 | — | |
| Capital expenditures | R$1.1MFY2016 | R$66.2MFY2026 | +57.6%/yr | |
| Free cash flow | −R$18.9MFY2016 | R$31.2MFY2026 | — | |
| Free cash flow margin | −12.8%FY2016 | 3.4%FY2026 | +16.2 pts | |
| Operating cash flow / net income | −1.68FY2016 | 0.35FY2024 | +2.03 | |
| Stock-based compensation | −R$37.5MFY2016 | R$1.1MFY2026 | — | |
| Dividends paid | R$80.7MFY2016 | R$77.7MFY2026 | −0.4%/yr | |
| Share buybacks (net) | R$39.7MFY2016 | R$0FY2024 | −100.0% | |
| Capex / revenue | 0.7%FY2016 | 7.2%FY2026 | +6.4 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
LND cash flow by activity
LND net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
LND cash flow statement in Brazilian reais
| FY2026 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −R$93.2M | R$226.9M | R$268.5M | R$520.1M | R$317.6M | R$119.6M | R$177.1M | R$126.3M | R$27.3M | R$10.6M |
| Depreciation & amortization | R$82.4M | R$80.2M | R$88.5M | R$82.6M | R$110.0M | R$60.2M | R$23.1M | R$23.2M | R$15.0M | R$22.0M |
| Stock-based compensation | R$1.1M | R$1.8M | R$5.9M | R$3.2M | R$2.5M | R$1.5M | R$1.6M | R$844,000 | −R$29.0M | −R$37.5M |
| Change in working capital | R$202.1M | R$16.1M | R$223.1M | R$210.5M | R$366.0M | R$107.4M | R$30.9M | R$6.7M | R$63.1M | R$1.4M |
| Other non-cash items | −R$95.0M | −R$245.5M | −R$430.3M | −R$611.2M | −R$645.0M | −R$219.7M | −R$181.4M | −R$159.4M | −R$11.4M | −R$14.2M |
| Cash from operating activities | R$97.4M | R$79.4M | R$155.7M | R$205.2M | R$151.2M | R$69.0M | R$51.3M | −R$2.3M | R$65.1M | −R$17.8M |
| Investing activities | ||||||||||
| Capital expenditures | −R$66.2M | −R$68.4M | −R$60.8M | −R$50.8M | −R$18.7M | −R$25.1M | −R$43.7M | −R$43.1M | −R$25.5M | −R$1.1M |
| Investments (net) | R$5.9M | −R$27.8M | R$55.0M | −R$38.9M | R$2.8M | −R$29.3M | −R$21.3M | −R$65.7M | −R$13.5M | R$161.1M |
| Acquisitions & other investing | −R$57.2M | R$68.4M | −R$56.2M | R$0 | −R$198.1M | R$25.1M | R$43.7M | R$43.1M | R$25.5M | R$1.1M |
| Cash from investing activities | −R$117.5M | −R$27.8M | −R$62.0M | −R$89.7M | −R$214.0M | −R$29.3M | −R$21.3M | −R$65.7M | −R$13.5M | R$161.1M |
| Financing activities | ||||||||||
| Dividends paid | −R$77.7M | −R$319.1M | −R$320.0M | −R$460.0M | −R$42.0M | −R$50.0M | −R$41.0M | −R$13.0M | −R$32.0M | −R$80.7M |
| Share repurchases & issuance (net) | — | R$3,000 | — | R$0 | R$271.4M | — | R$0 | −R$610,000 | −R$14.7M | −R$39.7M |
| Net borrowing (repayment) | R$120.1M | R$97.1M | R$217.6M | −R$236.1M | R$142.4M | R$157.0M | R$17.4M | R$164.9M | −R$8.8M | −R$10.7M |
| Shares issued | R$0 | R$3,000 | R$0 | R$0 | R$871.0M | R$0 | R$0 | R$0 | R$0 | R$0 |
| Other financing | R$4.3M | −R$43.9M | −R$158.7M | −R$41.7M | −R$287.9M | −R$88.6M | −R$4.0M | −R$25.9M | −R$6.3M | −R$33.7M |
| Cash from financing activities | R$46.7M | −R$265.8M | −R$261.1M | −R$737.8M | R$954.9M | R$18.5M | −R$27.6M | R$125.4M | −R$61.9M | −R$164.7M |
| Summary | ||||||||||
| Net change in cash | R$34.9M | −R$212.9M | −R$51.7M | −R$623.6M | R$888.1M | R$64.4M | R$2.3M | R$60.5M | −R$10.4M | −R$21.4M |
| Cash at end of period | R$178.3M | R$171.0M | R$383.8M | R$435.5M | R$1.06B | R$171.0M | R$106.6M | R$104.3M | R$43.8M | R$54.2M |
| Free cash flow | R$31.2M | R$11.0M | R$95.0M | R$154.3M | R$132.5M | R$43.9M | R$7.7M | −R$45.4M | R$39.6M | −R$18.9M |
| Free cash flow margin | 3.4% | 1.1% | 7.9% | 11.3% | 18.5% | 8.1% | 1.4% | −15.2% | 23.0% | −12.8% |
| Capex / revenue | 7.2% | 6.7% | 5.1% | 3.7% | 2.6% | 4.6% | 8.2% | 14.5% | 14.8% | 0.7% |
| Operating cash flow / net income | — | 0.35 | 0.58 | 0.39 | 0.48 | 0.58 | 0.29 | −0.02 | 2.38 | −1.68 |
| Jun '26 | Mar '26 | Dec '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | |||||||||||
| Net income | −R$14.0M | −R$14.3M | R$2.5M | R$61.3M | −R$1.1M | −R$19.6M | R$97.5M | R$232.9M | −R$30.1M | −R$5.8M | R$30.0M |
| Depreciation & amortization | R$20.5M | R$11.7M | R$13.2M | R$8.2M | R$16.2M | R$9.4M | R$41.1M | R$27.8M | R$12.0M | R$8.6M | R$31.7M |
| Stock-based compensation | R$358,000 | R$358,000 | −R$8,000 | R$42,000 | R$450,000 | R$450,000 | R$450,000 | R$1.8M | R$0 | R$450,000 | R$450,000 |
| Change in working capital | R$210.3M | −R$28.5M | −R$115.0M | R$358.6M | R$81.9M | −R$36.7M | −R$3.5M | R$84.8M | R$24.7M | −R$6.6M | R$148.3M |
| Other non-cash items | −R$33.0M | −R$41.0M | −R$52.7M | −R$214.7M | −R$132.3M | R$46.4M | −R$138.2M | −R$230.0M | R$12.4M | −R$152.2M | −R$35.1M |
| Cash from operating activities | R$184.2M | −R$71.8M | −R$152.0M | R$213.5M | −R$34.8M | −R$102,000 | −R$2.7M | R$117.3M | R$18.9M | −R$155.7M | R$175.3M |
| Investing activities | |||||||||||
| Capital expenditures | −R$27.8M | −R$12.1M | −R$7.9M | −R$33.4M | −R$21.9M | −R$1.2M | −R$23.5M | −R$119.0M | −R$16.2M | −R$9.3M | −R$162.0M |
| Investments (net) | R$8.9M | −R$961,000 | — | — | −R$5.3M | −R$11.1M | −R$18.2M | −R$15.0M | −R$12.1M | R$7.2M | −R$7.9M |
| Acquisitions & other investing | −R$104.9M | R$25.8M | R$56.0M | −R$75.2M | R$10.2M | R$12.9M | R$23.5M | — | R$31.6M | R$144.1M | −R$31.5M |
| Cash from investing activities | −R$123.8M | R$12.8M | R$48.1M | −R$108.6M | −R$17.1M | R$614,000 | −R$18.2M | — | R$3.3M | R$142.1M | −R$201.4M |
| Financing activities | |||||||||||
| Dividends paid | −R$2.0M | −R$110,528 | −R$75.8M | −R$1.5M | −R$154.5M | −R$154.5M | −R$12,000 | −R$12,000 | −R$75,000 | −R$319.0M | R$0 |
| Share repurchases & issuance (net) | — | — | — | R$0 | — | — | — | — | — | — | — |
| Net borrowing (repayment) | R$30.3M | R$96.4M | — | — | R$88.6M | R$54.5M | R$15.2M | −R$94.0M | R$2.8M | — | −R$13.3M |
| Shares issued | R$0 | R$0 | R$0 | R$0 | R$0 | R$0 | R$0 | R$0 | R$0 | R$0 | R$0 |
| Other financing | R$1.3M | −R$4.5M | −R$2.3M | −R$23.8M | R$153.3M | −R$30.5M | −R$7.4M | R$24,000 | R$3,000 | R$183.9M | R$0 |
| Cash from financing activities | R$29.6M | R$91.8M | −R$78.1M | −R$25.3M | R$87.3M | −R$130.6M | R$7.8M | −R$94.0M | R$2.7M | −R$135.1M | −R$13.3M |
| Summary | |||||||||||
| Net change in cash | R$93.8M | R$36.3M | −R$186.8M | R$78.8M | R$35.9M | −R$129.6M | −R$13.1M | −R$30.2M | R$5.0M | −R$148.5M | −R$39.2M |
| Cash at end of period | R$164.7M | R$72.3M | R$38.3M | R$142.9M | R$64.1M | R$28.2M | R$157.8M | R$171.0M | R$201.2M | R$196.1M | R$344.6M |
| Free cash flow | R$156.5M | −R$83.9M | −R$159.9M | R$180.1M | −R$56.8M | −R$1.3M | −R$26.2M | R$236.3M | R$2.8M | −R$182.6M | R$13.3M |
| Free cash flow margin | 61.4% | −57.5% | −83.7% | 59.9% | −33.3% | −0.3% | −5.5% | 106.5% | 2.3% | −118.8% | 4.9% |
| Capex / revenue | 10.9% | 8.3% | 4.1% | 11.1% | 12.9% | 0.3% | 5.0% | 53.6% | 13.3% | 6.0% | 59.9% |
| Operating cash flow / net income | — | — | −59.61 | 3.48 | — | — | −0.03 | 0.50 | — | — | 5.85 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in Brazilian reais as reported; data from EODHD.
LND cash generation
In fiscal 2026 (ended June 30, 2026), BrasilAgro - Companhia Brasileira de Propriedades Agrícolas generated R$97.4 million of cash from operations (up 22.6%) and spent R$66.2 million on capital expenditures, leaving free cash flow of R$31.2 million, 3.4% of revenue. It returned R$77.7 million to shareholders through dividends (R$77.7 million) and net share buybacks (R$0). Cash and equivalents rose by R$34.9 million over the year.
Related: LND income statement, LND balance sheet, LND dividend history. See the LND stock overview for the latest quote and news.
LND cash flow FAQ
What is BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's free cash flow?
BrasilAgro - Companhia Brasileira de Propriedades Agrícolas's free cash flow was R$31.2 million in fiscal 2026: R$97.4 million of operating cash flow minus R$66.2 million of capital expenditures It was R$11.0 million a year earlier..
How much cash does BrasilAgro - Companhia Brasileira de Propriedades Agrícolas generate from operations?
BrasilAgro - Companhia Brasileira de Propriedades Agrícolas generated R$97.4 million of cash from operating activities in fiscal 2026.
How much does BrasilAgro - Companhia Brasileira de Propriedades Agrícolas spend on capital expenditures?
BrasilAgro - Companhia Brasileira de Propriedades Agrícolas spent R$66.2 million on capital expenditures in fiscal 2026, 7.2% of revenue, compared with R$68.4 million the year before.
How much does BrasilAgro - Companhia Brasileira de Propriedades Agrícolas pay in dividends?
BrasilAgro - Companhia Brasileira de Propriedades Agrícolas paid R$77.7 million in dividends in fiscal 2026, 248.6% of free cash flow.