Overview of Financial Statements
Financial statements are records that provide an overview of a company's financial performance and position. There are three main types of financial statements:
- Income Statement: Shows the company's revenue, expenses, and profit over a specific period.
- Balance Sheet: Provides a snapshot of the company's assets, liabilities, and equity at a specific point in time.
- Cash Flow Statement: Details the cash inflows and outflows from operating, investing, and financing activities over a period.
This page presents both annual and quarterly data for these financial statements. The charts below provide a visual representation of the key metrics from each statement, helping you to quickly understand the financial health of BRF S.A.
Income Statement
| Breakdown | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 | December 31, 2014 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $53.62B | $53.81B | $48.34B | $39.47B | $33.45B | $30.19B | $33.47B | $33.73B | $32.20B | $29.01B |
| Cost of Revenue | $44.78B | $45.67B | $38.18B | $30.00B | $25.37B | $25.32B | $26.57B | $26.21B | $22.11B | $20.50B |
| Gross Profit | $8.83B | $8.13B | $10.17B | $9.47B | $8.08B | $4.87B | $6.90B | $7.53B | $10.09B | $8.51B |
| Gross Profit Ratio | 16.48% | 15.12% | 21.00% | 24.00% | 24.15% | 16.12% | 20.63% | 22.31% | 31.34% | 29.34% |
| Research and Development Expenses | $48.04M | $33.39M | $42.01M | $65.17M | $67.85M | $53.48M | $51.96M | $200.22M | $227.28M | $- |
| General and Administrative Expenses | $2.39B | $2.16B | $2.32B | $2.44B | $866.22M | $585.64M | $665.66M | $706.07M | $935.38M | $812.66M |
| Selling and Marketing Expenses | $5.29B | $5.11B | $4.61B | $3.83B | $4.91B | $4.51B | $4.73B | $4.97B | $4.81B | $4.22B |
| Selling General and Administrative Expenses | $7.68B | $7.27B | $6.93B | $6.28B | $5.78B | $5.10B | $5.40B | $5.67B | $5.74B | $5.03B |
| Other Expenses | $614.64M | $1.01B | $351.05M | $210.00M | $-738.39M | $5.80M | $742.60M | $364.20M | $176.30M | $249.00M |
| Operating Expenses | $8.35B | $8.28B | $7.28B | $6.49B | $5.04B | $4.93B | $5.96B | $5.84B | $5.77B | $5.16B |
| Cost and Expenses | $53.13B | $53.95B | $45.46B | $36.49B | $30.41B | $30.25B | $32.52B | $32.04B | $27.88B | $25.65B |
| Interest Income | $700.91M | $651.94M | $489.92M | $378.07M | $1.19B | $755.69M | $668.01M | $664.03M | $518.31M | $408.58M |
| Interest Expense | $3.68B | $3.23B | $2.86B | $2.25B | $2.84B | $2.04B | $2.28B | $1.49B | $984.60M | $979.27M |
| Depreciation and Amortization | $3.22B | $2.99B | $2.75B | $2.39B | $2.30B | $1.75B | $1.63B | $1.60B | $1.32B | $1.23B |
| EBITDA | $4.13B | $3.42B | $4.85B | $5.55B | $6.25B | $1.06B | $2.38B | $2.98B | $5.24B | $4.70B |
| EBITDA Ratio | 7.71% | 6.46% | 12.27% | 13.99% | 17.78% | 7.90% | 10.48% | 9.74% | 16.48% | 16.73% |
| Operating Income | $487.66M | $484.11M | $3.01B | $2.85B | $3.95B | $-206.33M | $736.08M | $1.82B | $4.23B | $3.48B |
| Operating Income Ratio | 0.91% | 0.90% | 6.23% | 7.21% | 11.80% | -0.68% | 2.20% | 5.38% | 13.13% | 11.99% |
| Total Other Income Expenses Net | $-2.47B | $-3.13B | $-2.71B | $-1.49B | $-1.66B | $-2.15B | $-1.86B | $-1.79B | $-1.67B | $-990.68M |
| Income Before Tax | $-1.98B | $-2.81B | $-34.79M | $1.15B | $1.09B | $-2.45B | $-1.35B | $-317.48M | $2.56B | $2.49B |
| Income Before Tax Ratio | -3.70% | -5.21% | -0.07% | 2.91% | 3.25% | -8.11% | -4.02% | -0.94% | 7.95% | 8.58% |
| Income Tax Expense | $-115.85M | $285.63M | $-552.10M | $-242.27M | $-125.89M | $-333.30M | $-246.65M | $49.86M | $-389.50M | $352.57M |
| Net Income | $-2.03B | $-3.09B | $419.45M | $1.52B | $1.21B | $-4.47B | $-1.13B | $-372.38M | $3.11B | $2.23B |
| Net Income Ratio | -3.78% | -5.74% | 0.87% | 3.85% | 3.63% | -14.79% | -3.36% | -1.10% | 9.66% | 7.67% |
| EPS | $-1.49 | $-2.94 | $0.52 | $1.71 | $1.50 | $-5.51 | $-1.40 | $-0.46 | $3.54 | $2.43 |
| EPS Diluted | $-1.49 | $-2.94 | $0.52 | $1.71 | $1.49 | $-5.24 | $-1.33 | $-0.44 | $3.54 | $2.43 |
| Weighted Average Shares Outstanding | 1.36B | 1.05B | 807.93M | 809.11M | 811.54M | 811.29M | 803.56M | 801.90M | 884.54M | 914.39M |
| Weighted Average Shares Outstanding Diluted | 1.36B | 1.05B | 808.68M | 811.35M | 813.87M | 852.28M | 844.16M | 842.42M | 884.96M | 914.82M |
| SEC Filing | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source |
Balance Sheet
| Breakdown | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 | December 31, 2014 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $9.26B | $8.13B | $7.53B | $7.58B | $4.24B | $4.87B | $6.01B | $6.36B | $5.36B | $6.01B |
| Short Term Investments | $447.88M | $418.37M | $346.86M | $314.16M | $418.18M | $507.04M | $228.43M | $820.30M | $864.10M | $630.58M |
| Cash and Short Term Investments | $9.71B | $8.55B | $7.88B | $7.89B | $4.66B | $5.38B | $6.24B | $7.18B | $6.23B | $6.64B |
| Net Receivables | $6.35B | $5.62B | $5.16B | $5.08B | $3.72B | $2.60B | $5.30B | $4.52B | $5.51B | $4.28B |
| Inventory | $9.33B | $11.81B | $12.55B | $8.93B | $5.49B | $5.39B | $6.46B | $6.44B | $5.36B | $4.07B |
| Other Current Assets | $424.33M | $524.63M | $657.61M | $1.01B | $1.18B | $5.66B | $1.19B | $956.32M | $2.08B | $2.50B |
| Total Current Assets | $25.95B | $26.50B | $26.24B | $22.91B | $15.05B | $19.03B | $19.19B | $18.89B | $19.18B | $17.49B |
| Property Plant Equipment Net | $16.47B | $14.29B | $13.04B | $12.22B | $12.28B | $10.70B | $12.19B | $11.75B | $10.92B | $10.06B |
| Goodwill | $3.39B | $3.47B | $3.43B | $2.94B | $2.71B | $2.69B | $4.19B | $4.34B | $2.78B | $2.53B |
| Intangible Assets | $2.75B | $2.96B | $2.72B | $2.28B | $2.19B | $2.32B | $3.01B | $2.33B | $2.23B | $1.80B |
| Goodwill and Intangible Assets | $6.14B | $6.43B | $6.15B | $5.22B | $4.91B | $5.02B | $7.20B | $6.67B | $5.01B | $4.33B |
| Long Term Investments | $1.44B | $507.47M | $454.53M | $353.45M | $322.23M | $376.63M | $637.00M | $586.41M | $641.93M | $500.53M |
| Tax Assets | $2.11B | $2.57B | $2.94B | $2.11B | $1.85B | $1.52B | $1.37B | $1.10B | $1.26B | $714.01M |
| Other Non-Current Assets | $5.15B | $7.55B | $7.07B | $6.85B | $7.30B | $5.74B | $4.65B | $3.94B | $3.38B | $3.01B |
| Total Non-Current Assets | $31.32B | $31.35B | $29.66B | $26.75B | $26.66B | $23.35B | $26.04B | $24.05B | $21.21B | $18.62B |
| Other Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Assets | $57.27B | $57.85B | $55.90B | $49.66B | $41.70B | $42.38B | $45.23B | $42.94B | $40.39B | $36.10B |
| Account Payables | $12.59B | $14.13B | $11.25B | $8.60B | $6.63B | $5.08B | $7.16B | $7.18B | $5.92B | $3.22B |
| Short Term Debt | $3.40B | $4.56B | $5.91B | $2.90B | $3.51B | $5.50B | $5.03B | $3.25B | $2.63B | $2.74B |
| Tax Payables | $239.96M | $522.85M | $454.04M | $395.63M | $517.21M | $402.97M | $426.03M | $319.62M | $353.28M | $299.95M |
| Deferred Revenue | $290.28M | $75.83M | $2.37B | $2.33B | $2.52B | $403.00M | $5.00K | $1.29B | $1.43B | $1.42B |
| Other Current Liabilities | $2.87B | $3.01B | $3.61B | $3.55B | $2.67B | $3.50B | $2.29B | $1.90B | $2.72B | $3.31B |
| Total Current Liabilities | $19.39B | $22.30B | $21.23B | $15.44B | $13.32B | $14.49B | $14.91B | $12.64B | $11.62B | $9.57B |
| Long Term Debt | $20.42B | $22.01B | $24.26B | $23.50B | $17.54B | $17.79B | $15.59B | $15.88B | $12.69B | $9.03B |
| Deferred Revenue Non-Current | $- | $- | $684.91M | $807.09M | $796.16M | $715.51M | $480.83M | $266.44M | $257.77M | $283.88M |
| Deferred Tax Liabilities Non-Current | $- | $659.71M | $582.21M | $863.91M | $795.37M | $920.44M | $1.39B | $1.26B | $1.16B | $1.03B |
| Other Non-Current Liabilities | $1.82B | $1.73B | $883.60M | $1.11B | $1.89B | $2.58B | $1.17B | $1.94B | $818.36M | $497.03M |
| Total Non-Current Liabilities | $22.24B | $23.73B | $25.85B | $25.41B | $20.23B | $20.36B | $18.61B | $18.09B | $14.93B | $10.84B |
| Other Liabilities | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities | $41.63B | $46.03B | $47.08B | $40.85B | $33.55B | $34.85B | $33.52B | $30.73B | $26.55B | $20.41B |
| Preferred Stock | $- | $- | $- | $- | $- | $4.28B | $- | $- | $- | $- |
| Common Stock | $13.35B | $12.84B | $12.46B | $12.46B | $12.46B | $12.46B | $12.46B | $12.46B | $12.46B | $12.46B |
| Retained Earnings | $- | $-2.36B | $-2.13B | $-2.59B | $-4.00B | $-4.28B | $101.37M | $1.35B | $6.08B | $3.95B |
| Accumulated Other Comprehensive Income Loss | $1.74B | $984.72M | $-1.67B | $-1.16B | $-529.62M | $-5.44B | $-1.19B | $101.36M | $5.00B | $3.43B |
| Other Total Stockholders Equity | $-166.25M | $-187.55M | $-194.82M | $-123.94M | $-38.24M | $4.22B | $29.88M | $-721.90M | $-10.02B | $-4.25B |
| Total Stockholders Equity | $14.92B | $11.27B | $8.46B | $8.59B | $7.90B | $6.96B | $11.20B | $11.84B | $13.52B | $15.59B |
| Total Equity | $15.64B | $11.82B | $8.83B | $8.81B | $8.15B | $7.53B | $11.71B | $12.22B | $13.84B | $15.69B |
| Total Liabilities and Stockholders Equity | $57.27B | $57.85B | $55.90B | $49.66B | $41.70B | $42.38B | $45.23B | $42.94B | $40.39B | $36.10B |
| Minority Interest | $720.23M | $552.86M | $363.09M | $227.75M | $252.73M | $567.15M | $512.57M | $379.38M | $319.08M | $99.47M |
| Total Liabilities and Total Equity | $57.27B | $57.85B | $55.90B | $49.66B | $41.70B | $42.38B | $45.23B | $42.94B | $40.39B | $36.10B |
| Total Investments | $1.89B | $925.84M | $801.38M | $667.61M | $740.41M | $883.60M | $865.40M | $1.41B | $1.51B | $1.13B |
| Total Debt | $23.82B | $26.56B | $27.94B | $24.94B | $21.05B | $22.17B | $20.44B | $18.96B | $15.18B | $11.59B |
| Net Debt | $14.55B | $18.43B | $20.41B | $17.36B | $16.81B | $17.30B | $14.43B | $12.61B | $9.82B | $5.58B |
Cash Flow Statement
| Breakdown | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 | December 31, 2014 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $-2.03B | $-3.09B | $517.31M | $1.39B | $1.20B | $-2.11B | $-1.13B | $-372.38M | $2.93B | $2.14B |
| Depreciation and Amortization | $3.22B | $2.99B | $2.75B | $2.39B | $2.00B | $1.75B | $1.92B | $1.60B | $1.32B | $1.23B |
| Deferred Income Tax | $- | $509.55M | $-800.38M | $-379.49M | $-603.35M | $-125.70M | $-102.29M | $309.94M | $-307.64M | $541.84M |
| Stock Based Compensation | $14.92M | $27.21M | $29.20M | $17.40M | $12.05M | $5.62M | $25.63M | $- | $67.42M | $- |
| Change in Working Capital | $1.74B | $-608.69M | $-1.75B | $-829.17M | $-1.43B | $-559.54M | $-628.88M | $1.66B | $-2.16B | $855.00M |
| Accounts Receivables | $-606.55M | $-144.60M | $386.89M | $-481.19M | $-806.01M | $992.51M | $-578.41M | $1.25B | $-1.11B | $459.20M |
| Inventory | $1.96B | $712.91M | $-3.69B | $-3.15B | $-82.58M | $-276.14M | $34.44M | $-747.09M | $-1.27B | $444.45M |
| Accounts Payables | $-3.30B | $-523.20M | $1.42B | $2.15B | $-43.63M | $-1.05B | $165.76M | $848.46M | $882.21M | $202.95M |
| Other Working Capital | $3.68B | $-653.80M | $138.75M | $644.45M | $-498.83M | $-224.55M | $-250.68M | $310.31M | $-661.26M | $-251.59M |
| Other Non Cash Items | $987.96M | $2.05B | $3.34B | $2.99B | $2.59B | $2.42B | $422.70M | $182.58M | $19.69M | $-25.12M |
| Net Cash Provided by Operating Activities | $3.94B | $1.88B | $3.92B | $4.42B | $1.01B | $295.69M | $652.81M | $1.82B | $4.14B | $5.00B |
| Investments in Property Plant and Equipment | $-2.25B | $-1.68B | $-1.74B | $-900.79M | $-420.63M | $-598.57M | $-938.22M | $-1.92B | $-1.50B | $-1.07B |
| Acquisitions Net | $167.70M | $-251.23M | $-850.92M | $37.46M | $-3.00M | $3.35M | $-1.12B | $-2.87B | $-152.47M | $-426.27M |
| Purchases of Investments | $- | $-289.02M | $-16.93M | $30.36M | $581.18M | $-218.89M | $-97.55M | $-239.56M | $-58.91M | $-43.88M |
| Sales Maturities of Investments | $- | $290.13M | $252.17M | $26.35M | $298.49M | $320.55M | $356.94M | $91.47M | $130.29M | $43.41M |
| Other Investing Activities | $-32.56M | $-1.33B | $-1.20B | $-624.37M | $-364.33M | $-922.32M | $-488.20M | $783.35M | $-103.14M | $-414.06M |
| Net Cash Used for Investing Activities | $-2.11B | $-3.26B | $-3.55B | $-1.43B | $91.71M | $-1.42B | $-2.29B | $-4.16B | $-1.69B | $-1.91B |
| Debt Repayment | $-3.80B | $-1.24B | $890.01M | $-380.58M | $-4.63B | $173.74M | $537.80M | $-2.97B | $-6.03B | $-4.71B |
| Common Stock Issued | $5.31B | $5.28B | $- | $- | $- | $- | $509.88M | $6.35M | $82.40M | $99.80M |
| Common Stock Repurchased | $- | $- | $-27.72M | $-106.07M | $- | $- | $- | $-543.26M | $-3.77B | $-350.94M |
| Dividends Paid | $- | $- | $- | $- | $- | $- | $- | $-1.18B | $-889.11M | $-726.01M |
| Other Financing Activities | $-2.38B | $-1.78B | $-1.43B | $-100.39M | $-182.10M | $-99.82M | $9.41M | $8.41B | $6.31B | $5.12B |
| Net Cash Used Provided by Financing Activities | $-861.84M | $2.26B | $-572.48M | $-587.04M | $-3.57B | $73.92M | $1.21B | $3.72B | $-4.29B | $-568.13M |
| Effect of Forex Changes on Cash | $170.02M | $-271.03M | $149.83M | $939.24M | $9.58M | $71.45M | $81.98M | $-387.87M | $1.20B | $359.08M |
| Net Change in Cash | $1.13B | $602.11M | $-47.80M | $3.34B | $-2.46B | $-974.82M | $-346.09M | $994.03M | $-644.05M | $2.88B |
| Cash at End of Period | $9.26B | $8.13B | $7.53B | $7.58B | $1.37B | $5.04B | $6.01B | $6.36B | $5.36B | $6.01B |
| Cash at Beginning of Period | $8.13B | $7.53B | $7.58B | $4.24B | $3.83B | $6.01B | $6.36B | $5.36B | $6.01B | $3.13B |
| Operating Cash Flow | $3.94B | $1.88B | $3.92B | $4.42B | $1.01B | $295.69M | $652.81M | $1.82B | $4.14B | $5.00B |
| Capital Expenditure | $-2.42B | $-1.68B | $-1.74B | $-900.79M | $-420.63M | $-598.57M | $-938.22M | $-1.92B | $-1.50B | $-1.07B |
| Free Cash Flow | $1.52B | $194.92M | $2.19B | $3.52B | $586.34M | $-302.89M | $-285.41M | $-101.03M | $2.63B | $3.93B |