AMTD Digital Inc. (HKD) Cash Flow Statement
Where HKD’s cash came from and went, FY2026
April 30, 2026 · U.S. dollars- Cash from operations
- $14.4M +2,536.0% vs FY2025
- Capital expenditures
- $60,000 0.1% of revenue
- Free cash flow
- $14.3M 24.3% margin
- Returned to shareholders
- —
- Change in cash
- −$14.5M cash at year-end $46.4M
Drawn to scale: where the cash came from and how it was used. Hover for values.
HKD operating cash flow, capex and free cash flow
HKD cash flow trends, FY2024–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $20.8MFY2024 | $14.4MFY2026 | −16.9%/yr | |
| Capital expenditures | $33,997FY2024 | $60,000FY2026 | +32.8%/yr | |
| Free cash flow | $20.8MFY2024 | $14.3MFY2026 | −17.0%/yr | |
| Free cash flow margin | 41.7%FY2024 | 24.3%FY2026 | −17.4 pts | |
| Operating cash flow / net income | 0.33FY2024 | 0.15FY2026 | −0.18 | |
| Stock-based compensation | $165,989FY2024 | $0FY2026 | −100.0% | |
| Dividends paid | $0FY2025 | $0FY2026 | — | |
| Share buybacks (net) | $0FY2024 | $0FY2025 | — | |
| Capex / revenue | 0.1%FY2024 | 0.1%FY2026 | 0.0 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HKD cash flow by activity
HKD 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).
HKD cash flow statement
| FY2026 | FY2025 | FY2024 | |
|---|---|---|---|
| Operating activities | |||
| Net income | $98.7M | $5.5M | $63.9M |
| Depreciation & amortization | $9.5M | $5.6M | $2.9M |
| Stock-based compensation | $0 | $11,057 | $165,989 |
| Change in working capital | −$2.9M | −$43,845 | $45.5M |
| Other non-cash items | −$90.9M | −$10.5M | −$91.6M |
| Cash from operating activities | $14.4M | $545,822 | $20.8M |
| Investing activities | |||
| Capital expenditures | −$60,000 | −$20,444 | −$33,997 |
| Investments (net) | $0 | −$75.5M | — |
| Acquisitions & other investing | −$31.1M | $65.8M | −$38.8M |
| Cash from investing activities | −$31.1M | −$9.7M | −$38.8M |
| Financing activities | |||
| Dividends paid | $0 | $0 | — |
| Share repurchases & issuance (net) | — | $0 | $0 |
| Net borrowing (repayment) | $0 | $18.0M | — |
| Shares issued | $13.2M | $0 | $0 |
| Other financing | −$10.9M | −$22.6M | −$593,897 |
| Cash from financing activities | $2.3M | −$4.6M | −$593,897 |
| Summary | |||
| Net change in cash | −$14.5M | −$13.8M | $120.5M |
| Cash at end of period | $46.4M | $3.6M | $134.9M |
| Free cash flow | $14.3M | $525,377 | $20.8M |
| Free cash flow margin | 24.3% | 2.2% | 41.7% |
| Capex / revenue | 0.1% | 0.1% | 0.1% |
| Operating cash flow / net income | 0.15 | 0.10 | 0.33 |
| Apr '24 | Oct '23 | Jul '23 | Apr '23 | Jan '23 | Jul '22 | Apr '22 | |
|---|---|---|---|---|---|---|---|
| Operating activities | |||||||
| Net income | $3.9M | $59.8M | $16.0M | $30.6M | $15.3M | $5.5M | $174.8M |
| Depreciation & amortization | $2.1M | $2.1M | $706,000 | $1.4M | — | −$36.1M | $4.2M |
| Stock-based compensation | $31,075 | $155,383 | $41,500 | $244,000 | $122,000 | $4.5M | $8.9M |
| Change in working capital | $11.4M | $42.6M | $11.4M | $22.8M | — | — | $45.7M |
| Other non-cash items | −$6.8M | −$64.7M | −$17.4M | −$33.7M | −$14.5M | −$159.0M | −$153.3M |
| Cash from operating activities | $10.7M | $40.0M | $10.7M | $21.4M | $956,534 | −$185.1M | $80.4M |
| Investing activities | |||||||
| Capital expenditures | −$8,500 | −$31,825 | −$8,500 | −$17,000 | $0 | −$298,159 | −$47,077 |
| Acquisitions & other investing | −$18.0M | −$67.3M | −$18.0M | −$36.0M | — | $2.34B | −$385.5M |
| Cash from investing activities | −$18.0M | −$67.4M | −$18.0M | −$36.0M | — | $2.34B | −$385.6M |
| Financing activities | |||||||
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$2.0M | −$7.4M | −$2.0M | −$4.0M | — | $1.88B | — |
| Cash from financing activities | −$2.0M | −$7.4M | −$2.0M | −$4.0M | — | $1.88B | — |
| Summary | |||||||
| Net change in cash | $152.9M | $139.8M | −$9.3M | −$9.3M | $956,534 | $2.16B | −$308.3M |
| Cash at end of period | $152.9M | $154.1M | −$9.3M | −$9.3M | $956,534 | $2.16B | $112.5M |
| Free cash flow | $10.7M | $40.0M | $10.7M | $21.3M | $956,534 | −$184.8M | $80.4M |
| Free cash flow margin | 55.8% | 647.6% | 246.1% | 111.5% | 10.0% | −386.6% | 168.1% |
| Capex / revenue | 0.0% | 0.5% | 0.2% | 0.1% | 0.0% | 0.6% | 0.1% |
| Operating cash flow / net income | 2.74 | 0.67 | 0.67 | 0.70 | 0.06 | −33.40 | 0.46 |
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.
HKD cash generation
In fiscal 2026 (ended April 30, 2026), AMTD Digital generated $14.4 million of cash from operations (up 2,536.0%) and spent $0.1 million on capital expenditures, leaving free cash flow of $14.3 million, 24.3% of revenue. Cash and equivalents fell by $14.5 million over the year.
Related: HKD income statement, HKD balance sheet. See the HKD stock overview for the latest quote and news.
HKD cash flow FAQ
What is AMTD Digital's free cash flow?
AMTD Digital's free cash flow was $14.3 million in fiscal 2026: $14.4 million of operating cash flow minus $0.1 million of capital expenditures It was $0.5 million a year earlier..
How much cash does AMTD Digital generate from operations?
AMTD Digital generated $14.4 million of cash from operating activities in fiscal 2026, 0.15 times its net income of $98.7 million.
How much does AMTD Digital spend on capital expenditures?
AMTD Digital spent $0.1 million on capital expenditures in fiscal 2026, 0.1% of revenue, compared with $0.0 million the year before.