Euro Tech Holdings Company Limited (CLWT) Cash Flow Statement
Where CLWT’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- −$1.1M −240.1% vs 2024
- Capital expenditures
- $7,000 0.1% of revenue
- Free cash flow
- −$1.1M −8.3% margin
- Returned to shareholders
- $319,000
- Change in cash
- −$1.8M cash at year-end $5.2M
Drawn to scale: where the cash came from and how it was used. Hover for values.
CLWT operating cash flow, capex and free cash flow
CLWT cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $153,0002016 | −$1.1M2025 | — | |
| Capital expenditures | $60,0002016 | $7,0002025 | −21.2%/yr | |
| Free cash flow | $93,0002016 | −$1.1M2025 | — | |
| Free cash flow margin | 0.4%2016 | −8.3%2025 | −8.7 pts | |
| Operating cash flow / net income | 0.662016 | −6.972025 | −7.63 | |
| Stock-based compensation | −$1.0M2016 | $02025 | — | |
| Dividends paid | $02016 | $02025 | −100.0% | |
| Share buybacks (net) | $02016 | $319,0002025 | — | |
| Capex / revenue | 0.3%2016 | 0.1%2025 | −0.2 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CLWT cash flow by activity
CLWT 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).
CLWT cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $157,000 | $734,000 | $1.8M | $369,000 | $989,000 | $769,000 | −$146,000 | $88,000 | $473,000 | $231,000 |
| Depreciation & amortization | $162,000 | $146,000 | $15,000 | $33,000 | $38,000 | $49,000 | $69,000 | $60,000 | $61,000 | $55,000 |
| Stock-based compensation | $0 | $12,000 | $47,000 | $45,000 | $55,000 | $54,000 | $10,000 | −$593,000 | −$959,000 | −$1.0M |
| Change in working capital | −$1.4M | $135,000 | $130,000 | $216,000 | $1.2M | −$941,000 | $150,000 | −$785,000 | $1.2M | $957,000 |
| Other non-cash items | $20,000 | −$246,000 | −$2.1M | −$202,000 | −$113,000 | −$2.0M | −$349,000 | −$115,000 | −$78,000 | −$57,000 |
| Cash from operating activities | −$1.1M | $781,000 | −$80,000 | $461,000 | $2.2M | −$2.0M | −$266,000 | −$1.3M | $652,000 | $153,000 |
| Investing activities | ||||||||||
| Capital expenditures | −$7,000 | −$5,000 | −$5,000 | −$7,000 | −$4,000 | −$11,000 | −$21,000 | −$85,000 | −$18,000 | −$60,000 |
| Investments (net) | — | $302,000 | $317,000 | $232,000 | $362,000 | $148,000 | −$169,000 | $5.1M | $272,000 | $390,000 |
| Acquisitions & other investing | $0 | $5,000 | $5,000 | $7,000 | $0 | $1.9M | $21,000 | $85,000 | $18,000 | $60,000 |
| Cash from investing activities | −$7,000 | $302,000 | $317,000 | $232,000 | $358,000 | $2.0M | −$169,000 | $5.1M | $272,000 | $390,000 |
| Financing activities | ||||||||||
| Dividends paid | $0 | −$617,000 | −$14,000 | −$464,000 | −$1.0M | −$1.3M | −$1.3M | −$1.4M | −$149 | −$0 |
| Share repurchases & issuance (net) | −$319,000 | −$7,000 | −$14,000 | $0 | $0 | — | — | $0 | $0 | $0 |
| Net borrowing (repayment) | $0 | −$154,000 | −$68,000 | −$154,000 | $15,000 | −$204,000 | $565,000 | −$97,000 | −$623,000 | $720,000 |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $2,000 | $0 | $14,000 | $0 | $0 | $0 | $1.3M | $0 | $149 | $0 |
| Cash from financing activities | −$317,000 | −$778,000 | −$82,000 | −$618,000 | −$1.0M | −$1.5M | $565,000 | −$1.5M | −$623,000 | $720,000 |
| Summary | ||||||||||
| Net change in cash | −$1.8M | $286,000 | $147,000 | −$37,000 | $1.5M | −$1.5M | $123,000 | $2.1M | $417,000 | $1.3M |
| Cash at end of period | $5.2M | $7.1M | $6.8M | $6.6M | $6.7M | $5.2M | $6.7M | $6.6M | $4.5M | $3.8M |
| Free cash flow | −$1.1M | $776,000 | −$85,000 | $454,000 | $2.2M | −$2.0M | −$287,000 | −$1.4M | $634,000 | $93,000 |
| Free cash flow margin | −8.3% | 5.0% | −0.5% | 3.0% | 10.3% | −15.3% | −1.6% | −7.1% | 3.7% | 0.4% |
| Capex / revenue | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.1% | 0.4% | 0.1% | 0.3% |
| Operating cash flow / net income | −6.97 | 1.06 | −0.04 | 1.25 | 2.23 | −2.65 | — | −15.28 | 1.38 | 0.66 |
| Mar '25 | Mar '24 | Jun '23 | Mar '23 | Sep '22 | Jun '22 | Mar '22 | |
|---|---|---|---|---|---|---|---|
| Operating activities | |||||||
| Net income | $690,000 | $914,000 | $914,000 | $184,500 | $276,500 | $184,500 | $494,500 |
| Depreciation & amortization | $6,500 | $7,500 | $16,500 | $16,500 | — | $19,000 | $13,500 |
| Stock-based compensation | $12,000 | $47,000 | $23,500 | $22,500 | $22,500 | $22,500 | $27,500 |
| Change in working capital | $135,000 | $65,000 | $65,000 | $108,000 | — | $108,000 | $616,000 |
| Other non-cash items | −$62,500 | −$1.1M | −$1.1M | −$101,000 | −$276,500 | −$103,500 | −$51,000 |
| Cash from operating activities | $781,000 | −$40,000 | −$40,000 | $230,500 | $22,500 | $230,500 | $1.1M |
| Investing activities | |||||||
| Capital expenditures | −$5,000 | −$2,500 | −$2,500 | −$3,500 | $0 | −$3,500 | −$2,000 |
| Acquisitions & other investing | $307,000 | $161,000 | $161,000 | $119,500 | — | $119,500 | $181,000 |
| Cash from investing activities | $302,000 | $158,500 | $158,500 | $116,000 | — | $116,000 | $179,000 |
| Financing activities | |||||||
| Dividends paid | −$617,000 | — | — | −$232,000 | — | −$232,000 | −$515,500 |
| Share repurchases & issuance (net) | −$7,000 | −$7,000 | −$7,000 | — | — | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$154,000 | −$34,000 | −$34,000 | −$77,000 | — | −$77,000 | $7,500 |
| Cash from financing activities | −$778,000 | −$41,000 | −$41,000 | −$309,000 | — | −$309,000 | −$508,000 |
| Summary | |||||||
| Net change in cash | $7.1M | $1.3M | $147,000 | −$37,000 | $22,500 | −$37,000 | $1.5M |
| Cash at end of period | $7.1M | $6.8M | $6.8M | $6.6M | $22,500 | $6.6M | $6.7M |
| Free cash flow | $776,000 | −$42,500 | −$42,500 | $227,000 | $22,500 | $227,000 | $1.1M |
| Free cash flow margin | 9.6% | −0.4% | −0.5% | 2.8% | 0.5% | 3.4% | 9.7% |
| Capex / revenue | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% |
| Operating cash flow / net income | 1.13 | −0.04 | −0.04 | 1.25 | 0.08 | 1.25 | 2.23 |
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.
CLWT cash generation
In fiscal 2025 (ended December 31, 2025), Euro Tech generated -$1.1 million of cash from operations (down 240.1%) and spent $0.0 million on capital expenditures, leaving free cash flow of -$1.1 million, −8.3% of revenue. It returned $0.3 million to shareholders through dividends ($0) and net share buybacks ($0.3 million). Cash and equivalents fell by $1.8 million over the year.
Related: CLWT income statement, CLWT balance sheet. See the CLWT stock overview for the latest quote and news.
CLWT cash flow FAQ
What is Euro Tech's free cash flow?
Euro Tech's free cash flow was -$1.1 million in fiscal 2025: -$1.1 million of operating cash flow minus $0.0 million of capital expenditures It was $0.8 million a year earlier..
How much cash does Euro Tech generate from operations?
Euro Tech generated -$1.1 million of cash from operating activities in fiscal 2025, −6.97 times its net income of $0.2 million.
How much does Euro Tech spend on capital expenditures?
Euro Tech spent $0.0 million on capital expenditures in fiscal 2025, 0.1% of revenue, compared with $0.0 million the year before.
How much stock does Euro Tech buy back?
Euro Tech spent $0.3 million on net share repurchases in fiscal 2025.