Hongli Group Inc. (HLP) Cash Flow Statement
Where HLP’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- $878,267
- Capital expenditures
- $217,447 1.1% of revenue
- Free cash flow
- $660,820 3.4% margin
- Returned to shareholders
- —
- Change in cash
- $960,381 cash at year-end $1.9M
Drawn to scale: where the cash came from and how it was used. Hover for values.
HLP operating cash flow, capex and free cash flow
HLP cash flow trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $1.8M2019 | $878,2672025 | −11.2%/yr | |
| Capital expenditures | $1.3M2019 | $217,4472025 | −26.2%/yr | |
| Free cash flow | $446,2332019 | $660,8202025 | +6.8%/yr | |
| Free cash flow margin | 4.8%2019 | 3.4%2025 | −1.4 pts | |
| Operating cash flow / net income | 0.862019 | 0.452025 | −0.41 | |
| Stock-based compensation | $02022 | $02025 | — | |
| Capex / revenue | 14.4%2019 | 1.1%2025 | −13.3 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HLP cash flow by activity
HLP 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).
HLP cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Operating activities | |||||||
| Net income | $1.9M | −$1.9M | $864,722 | $2.9M | $3.2M | $2.4M | $2.1M |
| Depreciation & amortization | $811,206 | $943,045 | $1.0M | $655,412 | $701,789 | $683,296 | $596,073 |
| Stock-based compensation | $0 | $2.0M | $0 | $0 | — | — | — |
| Change in working capital | −$2.1M | −$1.5M | −$714,029 | −$1.1M | −$2.8M | −$419,720 | −$904,461 |
| Other non-cash items | $215,176 | $65,497 | −$311,332 | $22,898 | −$3,011 | $77,203 | $17,622 |
| Cash from operating activities | $878,267 | −$414,034 | $884,917 | $2.5M | $1.1M | $2.8M | $1.8M |
| Investing activities | |||||||
| Capital expenditures | −$217,447 | −$32,506 | −$863,788 | −$9.5M | −$1.0M | −$584,613 | −$1.3M |
| Investments (net) | $0 | −$33.3M | −$2.3M | −$11.7M | −$3.1M | −$2.0M | −$1.3M |
| Acquisitions & other investing | −$1.0M | $32,506 | $863,788 | $9.5M | $1.0M | $584,613 | $1.3M |
| Cash from investing activities | −$1.3M | −$33.3M | −$2.3M | −$11.7M | −$3.1M | −$2.0M | −$1.3M |
| Financing activities | |||||||
| Net borrowing (repayment) | $1.3M | $530,110 | −$7.0M | $10.6M | $1.4M | $322,579 | −$548,719 |
| Shares issued | $0 | $33.0M | $7.2M | $0 | $0 | $0 | $0 |
| Other financing | $0 | −$21,533 | $118,112 | $210,123 | −$368,409 | $0 | −$76,728 |
| Cash from financing activities | $1.3M | $33.5M | $382,094 | $10.8M | $983,364 | $322,579 | −$625,447 |
| Summary | |||||||
| Net change in cash | $960,381 | $109,117 | −$1.3M | $1.6M | −$902,647 | $1.2M | −$183,507 |
| Cash at end of period | $1.9M | $924,786 | $815,669 | $2.1M | $531,462 | $1.4M | $280,844 |
| Free cash flow | $660,820 | −$446,540 | $21,129 | −$7.0M | $134,982 | $2.2M | $446,233 |
| Free cash flow margin | 3.4% | −3.2% | 0.1% | −34.7% | 0.6% | 19.5% | 4.8% |
| Capex / revenue | 1.1% | 0.2% | 5.4% | 47.0% | 4.6% | 5.2% | 14.4% |
| Operating cash flow / net income | 0.45 | — | 1.02 | 0.85 | 0.36 | 1.14 | 0.86 |
| Mar '26 | Jun '25 | Mar '25 | Jun '24 | Mar '24 | Sep '23 | Mar '23 | Dec '22 | Sep '22 | Jun '22 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $952,791 | $990,049 | $20,713 | −$1.9M | $68,368 | $796,354 | $1.1M | $532,751 | $532,751 | $1.9M |
| Depreciation & amortization | $356,845 | $454,361 | $453,936 | $489,109 | $514,332 | $531,221 | $298,464 | — | $149,232 | $356,948 |
| Stock-based compensation | — | — | — | $2.0M | $984,000 | — | −$1.4M | — | — | — |
| Change in working capital | −$385,925 | −$2.0M | $420,637 | −$1.8M | $1.4M | −$2.1M | −$496,530 | — | −$525,942 | −$621,119 |
| Other non-cash items | $230,762 | $306,306 | −$90,968 | $61,174 | −$1.0M | −$279,241 | $1.4M | −$87,585 | $289,125 | $0 |
| Cash from operating activities | $1.2M | −$276,206 | $804,318 | −$1.2M | $1.9M | −$1.0M | $890,333 | $445,166 | $445,166 | $1.6M |
| Investing activities | ||||||||||
| Capital expenditures | −$117,253 | −$100,193 | −$76,821 | −$386,522 | −$1.9M | −$173,181 | −$11.5M | $0 | −$3.5M | −$1.7M |
| Acquisitions & other investing | −$1.1M | $41,368 | −$32.9M | $2,772 | −$651,206 | $476,493 | $1.5M | — | — | $0 |
| Cash from investing activities | −$1.2M | −$58,825 | −$32.9M | −$383,750 | −$2.6M | $303,312 | −$10.0M | — | — | −$1.7M |
| Financing activities | ||||||||||
| Share repurchases & issuance (net) | — | — | — | — | −$1.1M | −$556,924 | — | — | — | — |
| Net borrowing (repayment) | — | — | — | — | — | — | — | — | $5.4M | $128,219 |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $937,808 | $317,944 | $31.8M | $1.7M | $1.9M | $191,586 | $10.7M | $5.3M | −$24,560 | $43,485 |
| Cash from financing activities | $937,808 | $317,944 | $31.8M | $1.7M | $747,432 | −$365,338 | $10.7M | $5.3M | $5.3M | $171,704 |
| Summary | ||||||||||
| Net change in cash | $960,283 | $98 | −$5,633 | $114,750 | −$51,077 | −$1.2M | $1.5M | $762,283 | $762,282 | $58,011 |
| Cash at end of period | $1.9M | $924,884 | $924,786 | $930,419 | $815,669 | $866,746 | $2.1M | $589,473 | $762,282 | $589,473 |
| Free cash flow | $1.0M | −$376,399 | $881,140 | −$1.6M | $21,282 | −$1.2M | −$10.6M | $445,166 | −$3.1M | −$85,103 |
| Free cash flow margin | 10.4% | −3.9% | 12.3% | −23.1% | 0.3% | −13.6% | −108.0% | — | −62.7% | −0.8% |
| Capex / revenue | 1.2% | 1.0% | 1.1% | 5.6% | 26.9% | 1.9% | 117.1% | — | 71.8% | 16.1% |
| Operating cash flow / net income | 1.21 | −0.28 | 38.83 | — | 28.19 | −1.31 | 0.84 | 0.84 | 0.84 | 0.86 |
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.
HLP cash generation
In fiscal 2025 (ended December 31, 2025), Hongli generated $0.9 million of cash from operations and spent $0.2 million on capital expenditures, leaving free cash flow of $0.7 million, 3.4% of revenue. Cash and equivalents rose by $1.0 million over the year.
Related: HLP income statement, HLP balance sheet. See the HLP stock overview for the latest quote and news.
HLP cash flow FAQ
What is Hongli's free cash flow?
Hongli's free cash flow was $0.7 million in fiscal 2025: $0.9 million of operating cash flow minus $0.2 million of capital expenditures It was -$0.4 million a year earlier..
How much cash does Hongli generate from operations?
Hongli generated $0.9 million of cash from operating activities in fiscal 2025, 0.45 times its net income of $1.9 million.
How much does Hongli spend on capital expenditures?
Hongli spent $0.2 million on capital expenditures in fiscal 2025, 1.1% of revenue, compared with $0.0 million the year before.