China Yuchai International Limited (CYD) Cash Flow Statement
Where CYD’s cash came from and went, 2025
December 31, 2025 · Chinese yuan- Cash from operations
- CN¥2.72B +248.8% vs 2024
- Capital expenditures
- CN¥651.3M 2.7% of revenue
- Free cash flow
- CN¥2.07B 8.6% margin
- Returned to shareholders
- CN¥142.9M 7% of free cash flow
- Change in cash
- CN¥1.62B cash at year-end CN¥7.53B
Drawn to scale: where the cash came from and how it was used. Hover for values.
CYD operating cash flow, capex and free cash flow
CYD cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | CN¥2.28B2016 | CN¥2.72B2025 | +2.0%/yr | |
| Capital expenditures | CN¥351.5M2016 | CN¥651.3M2025 | +7.1%/yr | |
| Free cash flow | CN¥1.92B2016 | CN¥2.07B2025 | +0.8%/yr | |
| Free cash flow margin | 14.1%2016 | 8.6%2025 | −5.5 pts | |
| Operating cash flow / net income | 4.332016 | 2.382025 | −1.95 | |
| Stock-based compensation | CN¥5.3M2016 | CN¥27.5M2025 | +20.1%/yr | |
| Dividends paid | CN¥118.2M2016 | CN¥142.9M2025 | +2.1%/yr | |
| Share buybacks (net) | CN¥02016 | CN¥02025 | — | |
| Capex / revenue | 2.6%2016 | 2.7%2025 | +0.1 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CYD cash flow by activity
CYD 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).
CYD cash flow statement in Chinese yuan
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | CN¥1.14B | CN¥620.5M | CN¥571.4M | CN¥394.7M | CN¥451.7M | CN¥971.9M | CN¥1.03B | CN¥695.3M | CN¥888.8M | CN¥525.2M |
| Depreciation & amortization | CN¥712.4M | CN¥714.8M | CN¥665.1M | CN¥624.7M | CN¥573.6M | CN¥494.6M | CN¥465.2M | CN¥421.2M | CN¥431.8M | CN¥465.3M |
| Stock-based compensation | CN¥27.5M | CN¥7.8M | CN¥0 | CN¥0 | — | — | CN¥0 | — | CN¥1.6M | CN¥5.3M |
| Change in working capital | CN¥1.07B | −CN¥1.32B | CN¥352.8M | −CN¥991.0M | −CN¥250.5M | CN¥315.0M | CN¥465.1M | −CN¥450.3M | −CN¥815.9M | CN¥177.5M |
| Other non-cash items | −CN¥227.3M | CN¥754.7M | −CN¥363.2M | −CN¥147.8M | −CN¥270.2M | −CN¥366.1M | −CN¥380.6M | CN¥4.5M | CN¥913.9M | CN¥1.10B |
| Cash from operating activities | CN¥2.72B | CN¥779.4M | CN¥1.23B | −CN¥119.4M | CN¥504.6M | CN¥1.42B | CN¥1.58B | CN¥670.6M | CN¥1.42B | CN¥2.28B |
| Investing activities | ||||||||||
| Capital expenditures | −CN¥651.3M | −CN¥545.2M | −CN¥237.8M | −CN¥597.2M | −CN¥859.5M | −CN¥1.08B | −CN¥1.26B | −CN¥407.7M | −CN¥289.5M | −CN¥351.5M |
| Investments (net) | CN¥80.2M | CN¥113.1M | −CN¥113.3M | −CN¥133.0M | −CN¥738.8M | −CN¥4.0M | −CN¥810.5M | −CN¥80.0M | CN¥126.6M | −CN¥572.0M |
| Acquisitions & other investing | CN¥296.8M | CN¥545.2M | CN¥237.8M | CN¥597.2M | CN¥859.5M | CN¥303.1M | CN¥1.26B | CN¥407.7M | CN¥239.5M | CN¥351.5M |
| Cash from investing activities | −CN¥274.4M | CN¥113.1M | −CN¥113.3M | −CN¥133.0M | −CN¥738.8M | −CN¥785.8M | −CN¥810.5M | −CN¥80.0M | CN¥76.6M | −CN¥572.0M |
| Financing activities | ||||||||||
| Dividends paid | −CN¥142.9M | −CN¥101.6M | −CN¥80.2M | −CN¥109.7M | −CN¥448.7M | −CN¥245.9M | −CN¥238.8M | −CN¥597.5M | −CN¥235.9M | −CN¥118.2M |
| Share repurchases & issuance (net) | CN¥0 | −CN¥285.6M | CN¥0 | CN¥0 | — | — | CN¥0 | CN¥0 | CN¥1.71B | CN¥0 |
| Net borrowing (repayment) | −CN¥532.6M | −CN¥70.5M | CN¥157.8M | CN¥113.8M | −CN¥50.1M | CN¥138.4M | −CN¥8.4M | CN¥388.5M | CN¥714.4M | −CN¥1.54B |
| Shares issued | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 |
| Other financing | −CN¥152.6M | −CN¥68.9M | −CN¥111.3M | −CN¥144.5M | −CN¥339.7M | −CN¥354.3M | −CN¥342.3M | −CN¥240.6M | −CN¥1.91B | CN¥101.8M |
| Cash from financing activities | −CN¥828.0M | −CN¥526.6M | −CN¥33.7M | −CN¥140.4M | −CN¥838.6M | −CN¥461.8M | −CN¥589.4M | −CN¥449.5M | CN¥280.9M | −CN¥1.55B |
| Summary | ||||||||||
| Net change in cash | CN¥1.62B | CN¥371.5M | CN¥1.09B | −CN¥336.7M | −CN¥1.09B | CN¥124.4M | CN¥193.4M | CN¥169.6M | CN¥1.74B | CN¥179.6M |
| Cash at end of period | CN¥7.53B | CN¥5.92B | CN¥5.54B | CN¥4.45B | CN¥4.79B | CN¥5.88B | CN¥5.75B | CN¥5.56B | CN¥5.39B | CN¥3.65B |
| Free cash flow | CN¥2.07B | CN¥234.2M | CN¥988.2M | −CN¥716.7M | −CN¥355.0M | CN¥330.5M | CN¥319.0M | CN¥262.9M | CN¥1.13B | CN¥1.92B |
| Free cash flow margin | 8.6% | 1.2% | 5.5% | −4.5% | −1.7% | 1.6% | 1.8% | 1.6% | 7.0% | 14.1% |
| Capex / revenue | 2.7% | 2.8% | 1.3% | 3.7% | 4.0% | 5.3% | 7.0% | 2.5% | 1.8% | 2.6% |
| Operating cash flow / net income | 2.38 | 1.26 | 2.15 | −0.30 | 1.12 | 1.46 | 1.53 | 0.96 | 1.60 | 4.33 |
| Mar '26 | |
|---|---|
| Operating activities | |
| Net income | CN¥957.3M |
| Depreciation & amortization | CN¥712.4M |
| Stock-based compensation | CN¥27.5M |
| Change in working capital | CN¥1.07B |
| Other non-cash items | −CN¥44.4M |
| Cash from operating activities | CN¥2.72B |
| Investing activities | |
| Capital expenditures | −CN¥651.3M |
| Acquisitions & other investing | CN¥377.0M |
| Cash from investing activities | −CN¥274.4M |
| Financing activities | |
| Dividends paid | −CN¥142.9M |
| Shares issued | CN¥0 |
| Other financing | −CN¥685.2M |
| Cash from financing activities | −CN¥828.0M |
| Summary | |
| Net change in cash | CN¥7.53B |
| Cash at end of period | CN¥7.53B |
| Free cash flow | CN¥2.07B |
| Free cash flow margin | 17.9% |
| Capex / revenue | 5.6% |
| Operating cash flow / net income | 2.84 |
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.
CYD cash generation
In fiscal 2025 (ended December 31, 2025), China Yuchai International generated CN¥2.7 billion of cash from operations (up 248.8%) and spent CN¥651.3 million on capital expenditures, leaving free cash flow of CN¥2.1 billion, 8.6% of revenue. It returned CN¥142.9 million to shareholders through dividends (CN¥142.9 million) and net share buybacks (CN¥0). Cash and equivalents rose by CN¥1.6 billion over the year.
Related: CYD income statement, CYD balance sheet, CYD dividend history. See the CYD stock overview for the latest quote and news.
CYD cash flow FAQ
What is China Yuchai International's free cash flow?
China Yuchai International's free cash flow was CN¥2.1 billion in fiscal 2025: CN¥2.7 billion of operating cash flow minus CN¥651.3 million of capital expenditures It was CN¥234.2 million a year earlier..
How much cash does China Yuchai International generate from operations?
China Yuchai International generated CN¥2.7 billion of cash from operating activities in fiscal 2025, 2.38 times its net income of CN¥1.1 billion.
How much does China Yuchai International spend on capital expenditures?
China Yuchai International spent CN¥651.3 million on capital expenditures in fiscal 2025, 2.7% of revenue, compared with CN¥545.2 million the year before.
How much does China Yuchai International pay in dividends?
China Yuchai International paid CN¥142.9 million in dividends in fiscal 2025, 6.9% of free cash flow.