Autohome Inc (ATHM) Cash Flow Statement
Where ATHM’s cash came from and went, 2025
December 31, 2025 · Chinese yuan- Cash from operations
- CN¥889.5M −35.2% vs 2024
- Capital expenditures
- CN¥118.1M 1.9% of revenue
- Free cash flow
- CN¥771.4M 12.3% margin
- Returned to shareholders
- CN¥2.53B 328% of free cash flow
- Change in cash
- CN¥467.8M cash at year-end CN¥2.25B
Drawn to scale: where the cash came from and how it was used. Hover for values.
ATHM operating cash flow, capex and free cash flow
ATHM cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | CN¥1.63B2016 | CN¥889.5M2025 | −6.5%/yr | |
| Capital expenditures | CN¥88.8M2016 | CN¥118.1M2025 | +3.2%/yr | |
| Free cash flow | CN¥1.54B2016 | CN¥771.4M2025 | −7.4%/yr | |
| Free cash flow margin | 25.8%2016 | 12.3%2025 | −13.5 pts | |
| Operating cash flow / net income | 1.342016 | 0.642025 | −0.70 | |
| Stock-based compensation | CN¥195.4M2016 | CN¥219.0M2025 | +1.3%/yr | |
| Dividends paid | CN¥02016 | CN¥1.48B2025 | — | |
| Share buybacks (net) | CN¥02016 | CN¥1.05B2025 | — | |
| Capex / revenue | 1.5%2016 | 1.9%2025 | +0.4 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ATHM cash flow by activity
ATHM net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
ATHM cash flow statement in Chinese yuan
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | CN¥1.39B | CN¥1.62B | CN¥1.93B | CN¥1.82B | CN¥2.14B | CN¥3.41B | CN¥3.20B | CN¥2.86B | CN¥1.99B | CN¥1.22B |
| Depreciation & amortization | CN¥273.4M | CN¥304.5M | CN¥352.6M | CN¥424.0M | CN¥431.2M | CN¥170.3M | CN¥118.6M | CN¥101.9M | CN¥88.8M | CN¥69.8M |
| Stock-based compensation | CN¥219.0M | CN¥192.0M | CN¥195.1M | CN¥168.9M | CN¥206.1M | CN¥211.2M | CN¥204.0M | CN¥202.3M | CN¥177.8M | CN¥195.4M |
| Change in working capital | −CN¥970.6M | −CN¥801.9M | CN¥112.4M | CN¥120.2M | CN¥735.4M | −CN¥593.6M | −CN¥892.6M | −CN¥81.8M | CN¥212.6M | CN¥194.8M |
| Other non-cash items | −CN¥22.5M | CN¥55.1M | −CN¥134.0M | CN¥27.4M | CN¥8.1M | CN¥130.1M | CN¥258.7M | CN¥25.5M | −CN¥690,000 | −CN¥50.3M |
| Cash from operating activities | CN¥889.5M | CN¥1.37B | CN¥2.45B | CN¥2.57B | CN¥3.52B | CN¥3.33B | CN¥2.89B | CN¥3.11B | CN¥2.47B | CN¥1.63B |
| Investing activities | ||||||||||
| Capital expenditures | −CN¥118.1M | −CN¥140.0M | −CN¥78.9M | −CN¥117.5M | −CN¥219.6M | −CN¥264.5M | −CN¥204.1M | −CN¥113.9M | −CN¥107.5M | −CN¥88.8M |
| Investments (net) | CN¥2.26B | −CN¥3.05B | CN¥1.00B | −CN¥3.11B | −CN¥3.52B | −CN¥2.99B | −CN¥1.17B | −CN¥3.30B | −CN¥4.91B | −CN¥514.9M |
| Acquisitions & other investing | CN¥5.8M | CN¥140.0M | CN¥78.9M | CN¥117.5M | −CN¥76.4M | CN¥264.5M | CN¥204.1M | CN¥113.9M | CN¥107.5M | CN¥88.8M |
| Cash from investing activities | CN¥2.15B | −CN¥3.05B | CN¥1.00B | −CN¥3.11B | −CN¥3.81B | −CN¥2.99B | −CN¥1.17B | −CN¥3.30B | −CN¥4.91B | −CN¥514.9M |
| Financing activities | ||||||||||
| Dividends paid | −CN¥1.48B | −CN¥1.48B | −CN¥491.0M | −CN¥421.7M | −CN¥673.4M | −CN¥651.1M | −CN¥651.1M | −CN¥595.8M | −CN¥651.1M | CN¥0 |
| Share repurchases & issuance (net) | −CN¥1.05B | −CN¥223.1M | −CN¥633.8M | −CN¥719.1M | −CN¥31.2M | CN¥0 | CN¥68.7M | CN¥51.8M | CN¥61.1M | CN¥0 |
| Net borrowing (repayment) | — | — | — | — | — | — | CN¥0 | CN¥0 | CN¥0 | CN¥0 |
| Shares issued | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥3.57B | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 |
| Other financing | CN¥24,000 | CN¥2.1M | CN¥296,000 | CN¥748,000 | CN¥37.0M | CN¥104.2M | CN¥651.1M | CN¥0 | CN¥651.1M | CN¥27.9M |
| Cash from financing activities | −CN¥2.53B | −CN¥1.70B | −CN¥1.12B | −CN¥1.14B | CN¥2.90B | −CN¥547.0M | CN¥68.7M | −CN¥544.0M | CN¥61.1M | CN¥27.9M |
| Summary | ||||||||||
| Net change in cash | CN¥467.8M | −CN¥3.34B | CN¥2.31B | −CN¥1.52B | CN¥2.56B | −CN¥224.3M | CN¥1.78B | −CN¥694.6M | −CN¥2.38B | CN¥1.14B |
| Cash at end of period | CN¥2.25B | CN¥1.79B | CN¥5.13B | CN¥2.82B | CN¥4.33B | CN¥1.77B | CN¥1.99B | CN¥217.0M | CN¥911.6M | CN¥3.29B |
| Free cash flow | CN¥771.4M | CN¥1.23B | CN¥2.37B | CN¥2.45B | CN¥3.30B | CN¥3.06B | CN¥2.69B | CN¥3.00B | CN¥2.37B | CN¥1.54B |
| Free cash flow margin | 12.3% | 17.5% | 33.0% | 35.3% | 45.7% | 35.4% | 31.9% | 41.4% | 38.1% | 25.8% |
| Capex / revenue | 1.9% | 2.0% | 1.1% | 1.7% | 3.0% | 3.1% | 2.4% | 1.6% | 1.7% | 1.5% |
| Operating cash flow / net income | 0.64 | 0.85 | 1.27 | 1.41 | 1.64 | 0.98 | 0.90 | 1.09 | 1.24 | 1.34 |
| Mar '26 | Dec '25 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|
| Operating activities | |||||
| Net income | CN¥44.3M | CN¥922.1M | CN¥379.8M | CN¥422.8M | CN¥602.3M |
| Depreciation & amortization | CN¥273.4M | CN¥273.4M | CN¥52.8M | CN¥6.4M | CN¥6.7M |
| Stock-based compensation | CN¥36.0M | CN¥144.2M | CN¥48.3M | CN¥49.3M | CN¥57.9M |
| Change in working capital | −CN¥970.6M | −CN¥970.6M | — | — | — |
| Other non-cash items | CN¥1.51B | CN¥520.4M | −CN¥468.0M | −CN¥465.7M | −CN¥653.6M |
| Cash from operating activities | CN¥889.5M | CN¥889.5M | CN¥12.9M | CN¥12.9M | CN¥13.4M |
| Investing activities | |||||
| Capital expenditures | −CN¥118.1M | −CN¥118.1M | CN¥0 | CN¥0 | CN¥0 |
| Acquisitions & other investing | CN¥2.27B | CN¥2.27B | — | — | — |
| Cash from investing activities | CN¥2.15B | CN¥2.15B | — | — | — |
| Financing activities | |||||
| Dividends paid | −CN¥1.48B | −CN¥1.48B | — | — | — |
| Share repurchases & issuance (net) | −CN¥1.05B | −CN¥1.05B | — | — | — |
| Shares issued | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 |
| Other financing | CN¥24,000 | CN¥24,000 | — | — | — |
| Cash from financing activities | −CN¥2.53B | −CN¥2.53B | — | — | — |
| Summary | |||||
| Net change in cash | CN¥2.25B | CN¥2.25B | CN¥475.5M | CN¥475.5M | −CN¥158.0M |
| Cash at end of period | CN¥2.25B | CN¥2.25B | CN¥722.4M | CN¥722.4M | CN¥246.8M |
| Free cash flow | CN¥771.4M | CN¥771.4M | CN¥12.9M | CN¥12.9M | CN¥13.4M |
| Free cash flow margin | 73.6% | 52.8% | 0.8% | 0.7% | 0.7% |
| Capex / revenue | 11.3% | 8.1% | 0.0% | 0.0% | 0.0% |
| Operating cash flow / net income | 20.10 | 0.96 | 0.03 | 0.03 | 0.02 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported; data from EODHD.
ATHM cash generation
In fiscal 2025 (ended December 31, 2025), Autohome generated CN¥889.5 million of cash from operations (down 35.2%) and spent CN¥118.1 million on capital expenditures, leaving free cash flow of CN¥771.4 million, 12.3% of revenue. It returned CN¥2.5 billion to shareholders through dividends (CN¥1.5 billion) and net share buybacks (CN¥1.1 billion). Cash and equivalents rose by CN¥467.8 million over the year.
Related: ATHM income statement, ATHM balance sheet, ATHM dividend history. See the ATHM stock overview for the latest quote and news.
ATHM cash flow FAQ
What is Autohome's free cash flow?
Autohome's free cash flow was CN¥771.4 million in fiscal 2025: CN¥889.5 million of operating cash flow minus CN¥118.1 million of capital expenditures It was CN¥1.2 billion a year earlier..
How much cash does Autohome generate from operations?
Autohome generated CN¥889.5 million of cash from operating activities in fiscal 2025, 0.64 times its net income of CN¥1.4 billion.
How much does Autohome spend on capital expenditures?
Autohome spent CN¥118.1 million on capital expenditures in fiscal 2025, 1.9% of revenue, compared with CN¥140.0 million the year before.
How much stock does Autohome buy back?
Autohome spent CN¥1.1 billion on net share repurchases in fiscal 2025.
How much does Autohome pay in dividends?
Autohome paid CN¥1.5 billion in dividends in fiscal 2025, 192.0% of free cash flow.