BBB Foods Inc. (TBBB) Cash Flow Statement
Where TBBB’s cash came from and went, 2025
December 31, 2025 · Mexican pesos- Cash from operations
- MX$4.46B +19.0% vs 2024
- Capital expenditures
- MX$3.33B 4.5% of revenue
- Free cash flow
- MX$1.13B 1.5% margin
- Returned to shareholders
- —
- Change in cash
- MX$176.2M cash at year-end MX$1.43B
Cash from operations
MX$4.46B
Capital expenditures
−MX$3.33B
Acquisitions & other
−MX$21.6M
Net borrowing (repayment)
+MX$6.08B
Other financing
−MX$7.18B
Currency & other
+MX$159.0M
Change in cash
MX$176.2M
Drawn to scale: where the cash came from and how it was used. Hover for values.
TBBB operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
TBBB cash flow trends, 2020–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | MX$1.08B2020 | MX$4.46B2025 | +32.7%/yr | |
| Capital expenditures | MX$298.3M2020 | MX$3.33B2025 | +62.0%/yr | |
| Free cash flow | MX$784.4M2020 | MX$1.13B2025 | +7.6%/yr | |
| Free cash flow margin | 4.7%2020 | 1.5%2025 | −3.1 pts | |
| Operating cash flow / net income | 23.222022 | 5.222024 | −18.00 | |
| Stock-based compensation | MX$19.7M2020 | MX$2.93B2025 | +172.0%/yr | |
| Dividends paid | MX$02020 | MX$02025 | — | |
| Capex / revenue | 1.8%2020 | 4.5%2025 | +2.8 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
TBBB cash flow by activity
OperatingInvestingFinancingChange in cash
TBBB 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).
TBBB cash flow statement in Mexican pesos
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Operating activities | ||||||
| Net income | −MX$2.66B | MX$717.5M | −MX$100.9M | MX$91.1M | −MX$724.9M | −MX$766.4M |
| Depreciation & amortization | MX$1.78B | MX$1.52B | MX$1.09B | MX$785.1M | MX$530.2M | MX$422.5M |
| Stock-based compensation | MX$2.93B | MX$523.1M | MX$384.6M | MX$303.8M | MX$142.1M | MX$19.7M |
| Change in working capital | MX$876.4M | MX$754.7M | MX$1.24B | MX$832.7M | MX$362.9M | MX$451.0M |
| Other non-cash items | MX$1.54B | MX$234.6M | MX$525.2M | MX$103.7M | MX$1.06B | MX$955.9M |
| Cash from operating activities | MX$4.46B | MX$3.75B | MX$3.14B | MX$2.12B | MX$1.37B | MX$1.08B |
| Investing activities | ||||||
| Capital expenditures | −MX$3.33B | −MX$2.44B | −MX$1.80B | −MX$1.13B | −MX$534.0M | −MX$298.3M |
| Investments (net) | MX$0 | −MX$4.91B | −MX$4.91B | −MX$1.11B | −MX$524.1M | −MX$296.5M |
| Acquisitions & other investing | −MX$21.6M | MX$2.44B | MX$4.93B | MX$1.13B | MX$534.0M | MX$298.3M |
| Cash from investing activities | −MX$3.35B | −MX$4.91B | −MX$1.78B | −MX$1.11B | −MX$524.1M | −MX$296.5M |
| Financing activities | ||||||
| Dividends paid | MX$0 | MX$0 | MX$0 | MX$0 | MX$0 | MX$0 |
| Net borrowing (repayment) | MX$6.08B | MX$843.8M | MX$1.77B | MX$931.7M | −MX$322.0M | — |
| Shares issued | MX$0 | MX$7.84B | MX$7.84B | MX$0 | MX$0 | MX$0 |
| Other financing | −MX$7.18B | −MX$7.40B | −MX$10.70B | −MX$1.96B | −MX$128.2M | −MX$446.6M |
| Cash from financing activities | −MX$1.09B | MX$1.29B | −MX$1.10B | −MX$1.03B | −MX$450.2M | −MX$446.6M |
| Summary | ||||||
| Net change in cash | MX$176.2M | MX$226.7M | MX$235.5M | −MX$15.1M | MX$390.0M | MX$335.8M |
| Cash at end of period | MX$1.43B | MX$1.45B | MX$1.22B | MX$985.0M | MX$1.00B | MX$610.0M |
| Free cash flow | MX$1.13B | MX$1.31B | MX$1.34B | MX$990.7M | MX$832.3M | MX$784.4M |
| Free cash flow margin | 1.5% | 2.3% | 3.0% | 3.1% | 3.6% | 4.7% |
| Capex / revenue | 4.5% | 4.2% | 4.1% | 3.5% | 2.3% | 1.8% |
| Operating cash flow / net income | — | 5.22 | — | 23.22 | — | — |
| 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 | −MX$178.8M | −MX$423.3M | −MX$1.03B | −MX$1.29B | −MX$168.8M | MX$25.5M | −MX$23.6M | MX$323.5M | MX$443.3M | −MX$145.8M | −MX$97.0M | −MX$226.3M |
| Depreciation & amortization | MX$608.0M | MX$572.6M | MX$556.3M | MX$475.6M | MX$450.4M | MX$407.7M | MX$566.5M | MX$335.4M | MX$314.2M | MX$302.5M | MX$331.0M | MX$236.2M |
| Stock-based compensation | MX$615.2M | MX$721.5M | MX$890.7M | MX$1.57B | MX$252.3M | MX$213.3M | MX$127.1M | MX$126.5M | MX$140.7M | MX$128.8M | MX$82.1M | MX$112.3M |
| Change in working capital | −MX$96.1M | MX$874.3M | MX$548.1M | MX$127.0M | −MX$172.9M | MX$430.0M | MX$470.7M | MX$380.5M | −MX$306.8M | MX$210.3M | MX$559.0M | MX$525.3M |
| Other non-cash items | MX$1.38B | MX$215.5M | MX$650.7M | MX$249.7M | MX$399.3M | MX$118.3M | MX$229.6M | −MX$66.8M | −MX$137.9M | MX$306.5M | MX$322.4M | MX$290.4M |
| Cash from operating activities | MX$2.32B | MX$1.96B | MX$1.62B | MX$1.14B | MX$760.3M | MX$1.19B | MX$1.37B | MX$1.10B | MX$453.5M | MX$802.4M | MX$1.20B | MX$938.0M |
| Investing activities | ||||||||||||
| Capital expenditures | −MX$934.8M | −MX$713.7M | −MX$1.23B | −MX$929.3M | −MX$880.0M | −MX$548.5M | −MX$793.9M | −MX$652.3M | −MX$598.4M | −MX$384.5M | −MX$858.2M | −MX$229.1M |
| Investments (net) | −MX$1.48B | MX$0 | MX$0 | −MX$890.1M | −MX$827.2M | −MX$510.4M | −MX$735.4M | −MX$458.6M | −MX$3.35B | −MX$364.9M | −MX$877.6M | — |
| Acquisitions & other investing | MX$21.1M | MX$30.5M | −MX$10.3M | MX$929.3M | MX$880.0M | MX$548.5M | — | MX$652.3M | MX$598.4M | MX$384.5M | — | MX$30.4M |
| Cash from investing activities | −MX$2.40B | −MX$683.2M | −MX$1.24B | −MX$890.1M | −MX$827.2M | −MX$510.4M | — | −MX$458.6M | −MX$3.35B | −MX$364.9M | — | −MX$198.8M |
| Financing activities | ||||||||||||
| Dividends paid | MX$0 | MX$0 | MX$0 | MX$0 | MX$0 | MX$0 | MX$0 | MX$0 | MX$0 | MX$0 | MX$0 | — |
| Net borrowing (repayment) | MX$2.00B | MX$934.4M | MX$2.31B | MX$1.57B | MX$1.32B | MX$877.0M | MX$1.62B | MX$753.6M | — | — | — | — |
| Shares issued | MX$1.49B | MX$0 | MX$0 | MX$0 | MX$0 | MX$0 | MX$0 | MX$0 | MX$0 | MX$7.84B | MX$0 | MX$0 |
| Other financing | −MX$2.78B | −MX$2.30B | −MX$2.38B | −MX$1.82B | −MX$1.68B | −MX$1.44B | −MX$2.08B | −MX$1.24B | −MX$458.1M | −MX$5.13B | −MX$68.3M | −MX$437.2M |
| Cash from financing activities | MX$707.0M | −MX$1.36B | −MX$69.9M | −MX$248.2M | −MX$357.9M | −MX$565.5M | −MX$459.7M | −MX$485.3M | −MX$458.1M | MX$2.71B | −MX$68.3M | −MX$437.2M |
| Summary | ||||||||||||
| Net change in cash | MX$635.2M | −MX$83.7M | MX$336.0M | −MX$8.1M | −MX$446.0M | MX$120.1M | MX$175.2M | MX$23.7M | −MX$3.05B | MX$3.07B | MX$251.6M | MX$336.6M |
| Cash at end of period | MX$1.98B | MX$1.34B | MX$1.43B | MX$1.11B | MX$1.12B | MX$1.57B | MX$1.45B | MX$1.27B | MX$1.25B | MX$4.29B | MX$1.22B | MX$1.00B |
| Free cash flow | MX$1.39B | MX$1.25B | MX$392.5M | MX$210.3M | −MX$119.7M | MX$646.3M | MX$576.5M | MX$446.7M | −MX$144.9M | MX$418.0M | MX$339.3M | MX$708.9M |
| Free cash flow margin | 5.3% | 5.5% | 1.8% | 1.0% | −0.6% | 3.8% | 3.5% | 3.0% | −1.1% | 3.3% | 2.8% | 6.2% |
| Capex / revenue | 3.6% | 3.1% | 5.7% | 4.6% | 4.7% | 3.2% | 4.9% | 4.4% | 4.4% | 3.0% | 7.0% | 2.0% |
| Operating cash flow / net income | — | — | — | — | — | 46.78 | — | 3.40 | 1.02 | — | — | — |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in Mexican pesos as reported; data from EODHD.
TBBB cash generation
In fiscal 2025 (ended December 31, 2025), BBB Foods generated MX$4.5 billion of cash from operations (up 19.0%) and spent MX$3.3 billion on capital expenditures, leaving free cash flow of MX$1.1 billion, 1.5% of revenue. Cash and equivalents rose by MX$176.2 million over the year.
Related: TBBB income statement, TBBB balance sheet. See the TBBB stock overview for the latest quote and news.
TBBB cash flow FAQ
What is BBB Foods's free cash flow?
BBB Foods's free cash flow was MX$1.1 billion in fiscal 2025: MX$4.5 billion of operating cash flow minus MX$3.3 billion of capital expenditures It was MX$1.3 billion a year earlier..
How much cash does BBB Foods generate from operations?
BBB Foods generated MX$4.5 billion of cash from operating activities in fiscal 2025.
How much does BBB Foods spend on capital expenditures?
BBB Foods spent MX$3.3 billion on capital expenditures in fiscal 2025, 4.5% of revenue, compared with MX$2.4 billion the year before.