Azul SA annual net debt
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Azul SA Net Debt Growth & History (AZUL)
Azul SA's net debt was R$34.78B for fiscal 2025.
View full Azul SA company overviewAzul SA annual net debt history
| Fiscal year | Period ended | Net debt | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | R$34.78B | −R$371.2M | −1.06% |
| 2024 | 2024-12-31 | R$35.15B | R$12.20B | +53.17% |
| 2023 | 2023-12-31 | R$22.95B | R$1.80B | +8.52% |
| 2022 | 2022-12-31 | R$21.15B | R$1.18B | +5.93% |
| 2021 | 2021-12-31 | R$19.96B | R$3.15B | +18.71% |
| 2020 | 2020-12-31 | R$16.82B | R$2.84B | +20.32% |
| 2019 | 2019-12-31 | R$13.98B | R$3.47B | +33.03% |
| 2018 | 2018-12-31 | R$10.51B | R$435.7M | +4.33% |
| 2017 | 2017-12-31 | R$10.07B | R$6.59B | +188.96% |
| 2016 | 2016-12-31 | R$3.49B | — | — |
Azul SA quarterly net debt
Q4.16
Q4.17
Q1.18
Q4.18
Q4.19
Q4.20
Q4.21
Q4.22
Q4.23
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Net debt | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | R$20.15B | −R$13.48B | −40.08% |
| Q1 2026 | 2026-03-31 | R$18.55B | −R$16.87B | −47.62% |
| Q4 2025 | 2025-12-31 | R$34.78B | −R$371.2M | −1.06% |
| Q3 2025 | 2025-09-30 | R$37.21B | — | — |
| Q2 2025 | 2025-06-30 | R$33.62B | — | — |
| Q1 2025 | 2025-03-31 | R$35.42B | — | — |
| Q4 2024 | 2024-12-31 | R$35.15B | R$12.20B | +53.17% |
| Q4 2023 | 2023-12-31 | R$22.95B | R$1.80B | +8.52% |
| Q4 2022 | 2022-12-31 | R$21.15B | R$1.18B | +5.93% |
| Q4 2021 | 2021-12-31 | R$19.96B | R$3.15B | +18.71% |
| Q4 2020 | 2020-12-31 | R$16.82B | R$2.84B | +20.32% |
| Q4 2019 | 2019-12-31 | R$13.98B | R$3.47B | +33.03% |
| Q4 2018 | 2018-12-31 | R$10.51B | R$435.7M | +4.33% |
| Q1 2018 | 2018-03-31 | R$2.65B | — | — |
| Q4 2017 | 2017-12-31 | R$10.07B | R$6.59B | +188.96% |
| Q4 2016 | 2016-12-31 | R$3.49B | — | — |
Azul SA net debt trends
Over the last five fiscal years, Azul SA's net debt increased from R$16.82B to R$34.78B, a change of R$17.96B. The latest reported quarter, Q2 2026, shows R$20.15B.
About the metric
What net debt means
Net debt compares a company’s interest-bearing debt with its cash and cash equivalents. Positive net debt means debt exceeds cash, while a negative value indicates the company has more cash than debt on this measure.
Calculation and source
How net debt is calculated
TickerStat calculates net debt as total interest-bearing debt minus cash and cash equivalents at the same reporting-period end. Short-term investments are not subtracted because they are not included in the standardized cash series. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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