Azul SA annual working capital
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Azul SA Working Capital Growth & History (AZUL)
Azul SA's working capital was −R$23.17B for fiscal 2025.
View full Azul SA company overviewAzul SA annual working capital history
| Fiscal year | Period ended | Working capital | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | −R$23.17B | −R$7.49B | — |
| 2024 | 2024-12-31 | −R$15.68B | −R$5.98B | — |
| 2023 | 2023-12-31 | −R$9.70B | R$479.4M | — |
| 2022 | 2022-12-31 | −R$10.18B | −R$4.32B | — |
| 2021 | 2021-12-31 | −R$5.86B | −R$1.07B | — |
| 2020 | 2020-12-31 | −R$4.80B | −R$2.07B | — |
| 2019 | 2019-12-31 | −R$2.72B | −R$1.14B | — |
| 2018 | 2018-12-31 | −R$1.59B | −R$932.3M | — |
| 2017 | 2017-12-31 | −R$653.5M | R$1.05B | — |
| 2016 | 2016-12-31 | −R$1.71B | — | — |
Azul SA quarterly working capital
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 | Working capital | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | −R$8.60B | R$5.58B | — |
| Q1 2026 | 2026-03-31 | −R$7.25B | R$3.81B | — |
| Q4 2025 | 2025-12-31 | −R$23.17B | −R$7.49B | — |
| Q3 2025 | 2025-09-30 | −R$19.53B | — | — |
| Q2 2025 | 2025-06-30 | −R$14.18B | — | — |
| Q1 2025 | 2025-03-31 | −R$11.06B | — | — |
| Q4 2024 | 2024-12-31 | −R$15.68B | −R$5.98B | — |
| Q4 2023 | 2023-12-31 | −R$9.70B | R$479.4M | — |
| Q4 2022 | 2022-12-31 | −R$10.18B | −R$4.32B | — |
| Q4 2021 | 2021-12-31 | −R$5.86B | −R$1.07B | — |
| Q4 2020 | 2020-12-31 | −R$4.80B | −R$2.07B | — |
| Q4 2019 | 2019-12-31 | −R$2.72B | −R$1.14B | — |
| Q4 2018 | 2018-12-31 | −R$1.59B | −R$932.3M | — |
| Q1 2018 | 2018-03-31 | −R$213.1M | — | — |
| Q4 2017 | 2017-12-31 | −R$653.5M | R$1.05B | — |
| Q4 2016 | 2016-12-31 | −R$1.71B | — | — |
Azul SA working capital trends
Over the last five fiscal years, Azul SA's working capital decreased from −R$4.80B to −R$23.17B, a change of −R$18.37B. The latest reported quarter, Q2 2026, shows −R$8.60B.
About the metric
What working capital means
Working capital is the difference between current assets and current liabilities. It provides a snapshot of short-term operating liquidity, although negative working capital can be normal for some business models and the measure is often not meaningful for banks.
Calculation and source
How working capital is calculated
TickerStat calculates working capital as reported current assets minus reported current liabilities at the same balance-sheet date. Missing current classifications are not assumed to be zero. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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