AMTD IDEA Group (AMTD) Cash Flow Statement

NYSE: AMTDOperating cash, capex, free cash flow and buybacks.

Where AMTD’s cash came from and went, 2025

December 31, 2025 · U.S. dollars
Cash from operations
$17.8M
+245.7% vs 2024
Capital expenditures
$746,000
1.3% of revenue
Free cash flow
$17.1M
29.9% margin
Returned to shareholders
—
Change in cash
−$11.8M
cash at year-end $51.1M
Cash from operations: $17.8MCash from operations$17.8MOther financing: $145.6MOther financing$145.6MDrawn from cash: $11.8MDrawn from cash$11.8MInvestments (net): $150.0MInvestments (net)$150.0M · 86%Acquisitions & other: $24.2MAcquisitions & other$24.2M · 14%Capital expenditures, Debt repayment, Currency & other: $1.0MOther uses$1.0M · 1%$175.3M
Cash from operations
$17.8M
Capital expenditures
−$746,000
Investments (net)
−$150.0M
Acquisitions & other
−$24.2M
Net borrowing (repayment)
−$164,000
Other financing
+$145.6M
Currency & other
−$138,000
Change in cash
−$11.8M

Drawn to scale: where the cash came from and how it was used. Hover for values.

AMTD operating cash flow, capex and free cash flow

Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)

AMTD cash flow trends, 2024–2025

MetricTrendThenLatestChange
Operating cash flow$5.2M2024$17.8M2025+245.7%/yr
Capital expenditures$8,0002024$746,0002025+9,225.0%/yr
Free cash flow$5.2M2024$17.1M2025+231.8%/yr
Free cash flow margin9.5%202429.9%2025+20.3 pts
Operating cash flow / net income0.0920240.262025+0.17
Dividends paid$4.3M2024$02025−100.0%
Capex / revenue0.0%20241.3%2025+1.3 pts

Change is the average annual growth (CAGR) or the difference between the first and latest year.

AMTD cash flow by activity

OperatingInvestingFinancingChange in cash

AMTD 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).

AMTD cash flow statement

20252024
Operating activities
Net income$68.8M$55.2M
Depreciation & amortization$9.9M$6.8M
Change in working capital$4.6M−$2.6M
Other non-cash items−$65.5M−$54.3M
Cash from operating activities$17.8M$5.2M
Investing activities
Capital expenditures−$746,000−$8,000
Investments (net)−$150.0M−$45.3M
Acquisitions & other investing−$24.2M$8,000
Cash from investing activities−$175.0M−$45.3M
Financing activities
Dividends paid$0−$4.3M
Net borrowing (repayment)−$164,000$16.2M
Shares issued$0$0
Other financing$145.6M−$29.3M
Cash from financing activities$145.5M−$17.3M
Summary
Net change in cash−$11.8M−$57.4M
Cash at end of period$51.1M$62.9M
Free cash flow$17.1M$5.2M
Free cash flow margin29.9%9.5%
Capex / revenue1.3%0.0%
Operating cash flow / net income0.260.09

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.

AMTD cash generation

In fiscal 2025 (ended December 31, 2025), AMTD IDEA generated $17.8 million of cash from operations (up 245.7%) and spent $0.7 million on capital expenditures, leaving free cash flow of $17.1 million, 29.9% of revenue. Cash and equivalents fell by $11.8 million over the year.

Related: AMTD income statement, AMTD balance sheet. See the AMTD stock overview for the latest quote and news.

AMTD cash flow FAQ

What is AMTD IDEA's free cash flow?

AMTD IDEA's free cash flow was $17.1 million in fiscal 2025: $17.8 million of operating cash flow minus $0.7 million of capital expenditures It was $5.2 million a year earlier..

How much cash does AMTD IDEA generate from operations?

AMTD IDEA generated $17.8 million of cash from operating activities in fiscal 2025, 0.26 times its net income of $68.8 million.

How much does AMTD IDEA spend on capital expenditures?

AMTD IDEA spent $0.7 million on capital expenditures in fiscal 2025, 1.3% of revenue, compared with $0.0 million the year before.

Asset Management: cash flow