AGM Group Holdings Inc. (AGMH) Cash Flow Statement
Where AGMH’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- −$4.1M −157.3% vs 2024
- Capital expenditures
- $0 0.0% of revenue
- Free cash flow
- −$4.1M −13.3% margin
- Returned to shareholders
- —
- Change in cash
- −$853,632 cash at year-end $325,338
Cash from operations
−$4.1M
Shares issued
+$4.8M
Other financing
−$1.6M
Currency & other
+$43,014
Change in cash
−$853,632
Drawn to scale: where the cash came from and how it was used. Hover for values.
AGMH operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
AGMH cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $1.6M2016 | −$4.1M2025 | — | |
| Capital expenditures | $1.8M2016 | $02025 | −100.0% | |
| Free cash flow | −$174,3442016 | −$4.1M2025 | — | |
| Free cash flow margin | −2.5%2016 | −13.3%2025 | −10.8 pts | |
| Operating cash flow / net income | 0.972016 | −7.262025 | −8.23 | |
| Stock-based compensation | $129,0342021 | $588,3002025 | +46.1%/yr | |
| Dividends paid | $02016 | $02018 | — | |
| Share buybacks (net) | $02016 | $02018 | — | |
| Capex / revenue | 26.0%2016 | 0.0%2025 | −26.0 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AGMH cash flow by activity
OperatingInvestingFinancingChange in cash
AGMH 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).
AGMH cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $561,630 | $3.4M | −$7.4M | $11.5M | $3.5M | −$1.1M | −$1.6M | −$1.8M | $3.9M | $1.7M |
| Depreciation & amortization | $98,585 | $19,303 | $473,721 | $57,362 | $101,710 | $33,437 | $50,273 | $382,680 | $246,529 | $25,984 |
| Stock-based compensation | $588,300 | $0 | $85.1M | — | $129,034 | — | — | — | — | — |
| Change in working capital | −$5.2M | −$43.4M | −$1.8M | −$49.2M | −$5.5M | $56,371 | $1.3M | −$1.2M | $2.4M | −$189,838 |
| Other non-cash items | −$153,378 | $47.0M | −$78.0M | $20.4M | −$151,153 | −$644,682 | −$26,326 | −$249,557 | $35,000 | $110,788 |
| Cash from operating activities | −$4.1M | $7.1M | −$1.7M | −$17.3M | −$1.9M | −$1.7M | −$196,393 | −$2.8M | $6.6M | $1.6M |
| Investing activities | ||||||||||
| Capital expenditures | $0 | −$4 | −$10,708 | −$50,000 | −$339,657 | −$810 | −$34,656 | −$57,506 | −$1.4M | −$1.8M |
| Investments (net) | — | $115,848 | −$10,708 | −$332,308 | −$339,657 | −$1,195 | −$5.0M | −$435,458 | −$1.4M | −$1.8M |
| Acquisitions & other investing | — | $4 | $10,708 | — | $339,657 | $810 | $34,656 | $57,506 | $1.4M | $1.8M |
| Cash from investing activities | — | $115,848 | −$10,708 | — | −$339,657 | −$1,195 | −$5.0M | −$435,458 | −$1.4M | −$1.8M |
| Financing activities | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Share repurchases & issuance (net) | — | — | — | — | — | — | — | $5.7M | $1.2M | $830,000 |
| Net borrowing (repayment) | — | −$8.0M | −$3.2M | −$2.0M | $1.9M | −$469,675 | −$526,329 | $334,243 | −$2.7M | $3.6M |
| Shares issued | $4.8M | $0 | $0 | $0 | $17.6M | $667,901 | $0 | $5.7M | $0 | $0 |
| Other financing | −$1.6M | $779,693 | $4.5M | $10.5M | $0 | −$86,348 | $0 | −$5.7M | −$127,195 | $0 |
| Cash from financing activities | $3.2M | −$7.2M | $1.3M | $8.5M | $19.6M | $111,878 | −$526,329 | $6.1M | −$1.6M | $4.4M |
| Summary | ||||||||||
| Net change in cash | −$853,632 | −$423,000 | −$2.5M | −$14.4M | $17.7M | −$1.4M | −$5.8M | $3.2M | $3.5M | $4.2M |
| Cash at end of period | $325,338 | $1.2M | $1.6M | $4.1M | $18.4M | $664,605 | $2.1M | $7.9M | $7.7M | $4.2M |
| Free cash flow | −$4.1M | $7.1M | −$1.7M | −$17.4M | −$2.2M | −$1.7M | −$231,049 | −$2.9M | $5.2M | −$174,344 |
| Free cash flow margin | −13.3% | 22.2% | −1.8% | −8.6% | −6.0% | −3,100.7% | −32.6% | −56.5% | 41.1% | −2.5% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.9% | 1.5% | 4.9% | 1.1% | 11.2% | 26.0% |
| Operating cash flow / net income | −7.26 | 2.09 | — | −1.51 | −0.53 | — | — | — | 1.68 | 0.97 |
| Jun '26 | Sep '25 | Mar '25 | Sep '24 | Mar '24 | Sep '23 | Mar '23 | Sep '22 | Jun '22 | Mar '22 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $1.7M | $1.7M | −$1.4M | $9.0M | −$7.5M | −$11.8M | $8.1M | −$1.5M | $14.6M | $7.3M |
| Depreciation & amortization | $952,357 | $952,357 | $3,559 | $6,782 | $2,870 | $20,402 | $2,871 | $37,732 | $105,348 | $132,595 |
| Change in working capital | $2.5M | $2.5M | −$5.5M | −$18.2M | $1.1M | $7.2M | $66,136 | −$13.5M | −$56.3M | −$24.6M |
| Other non-cash items | −$4.4M | −$4.4M | $4.1M | $13.1M | $6.0M | $4.2M | −$8.7M | $11.4M | $31.5M | $12.1M |
| Cash from operating activities | $750,251 | $750,251 | −$2.8M | $3.9M | −$295,364 | −$299,122 | −$546,737 | −$3.6M | −$10.1M | −$5.1M |
| Investing activities | ||||||||||
| Capital expenditures | $0 | $0 | $0 | $0 | −$3,730 | −$3,730 | −$9,084 | −$99,036 | −$480,380 | −$240,190 |
| Acquisitions & other investing | $2,500 | $2,500 | $57,924 | $57,924 | $7,460 | $7,460 | $0 | $173,072 | $0 | $0 |
| Cash from investing activities | $2,500 | $2,500 | $57,924 | $57,924 | $3,730 | $3,730 | −$9,084 | $74,036 | −$480,380 | −$240,190 |
| Financing activities | ||||||||||
| Net borrowing (repayment) | — | — | — | — | — | — | — | — | $3.2M | $3.2M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$790,230 | −$790,230 | $2.4M | −$3.9M | $243,754 | −$38,590 | $700,000 | $288,142 | $3.2M | $0 |
| Cash from financing activities | −$790,230 | −$790,230 | $2.4M | −$3.9M | $243,754 | −$38,590 | $700,000 | $288,142 | $6.4M | $3.2M |
| Summary | ||||||||||
| Net change in cash | — | — | — | −$1.2M | −$1.1M | −$1.1M | −$165,085 | −$2.8M | −$8.8M | −$4.4M |
| Cash at end of period | — | — | — | $1.2M | −$1.1M | −$1.1M | −$165,085 | −$2.8M | $9.7M | $14.0M |
| Free cash flow | $750,251 | $750,251 | −$2.8M | $3.9M | −$295,364 | −$295,392 | −$555,821 | −$3.5M | −$10.6M | −$5.3M |
| Free cash flow margin | 14.6% | 14.6% | −27.5% | 27.3% | −15.4% | −1.0% | −3.0% | −5.5% | −9.3% | −9.3% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.2% | 0.0% | 0.0% | 0.2% | 0.4% | 0.4% |
| Operating cash flow / net income | 0.45 | 0.45 | — | 0.43 | — | — | −0.07 | — | −0.69 | −0.69 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
AGMH cash generation
In fiscal 2025 (ended December 31, 2025), AGM generated -$4.1 million of cash from operations (down 157.3%) and spent $0 on capital expenditures, leaving free cash flow of -$4.1 million, −13.3% of revenue. Cash and equivalents fell by $0.9 million over the year.
Related: AGMH income statement, AGMH balance sheet. See the AGMH stock overview for the latest quote and news.
AGMH cash flow FAQ
What is AGM's free cash flow?
AGM's free cash flow was -$4.1 million in fiscal 2025: -$4.1 million of operating cash flow minus $0 of capital expenditures It was $7.1 million a year earlier..
How much cash does AGM generate from operations?
AGM generated -$4.1 million of cash from operating activities in fiscal 2025, −7.26 times its net income of $0.6 million.