Caravelle International Group (HTCO) Cash Flow Statement
Where HTCO’s cash came from and went, FY2025
October 31, 2025 · U.S. dollars- Cash from operations
- $4.6M
- Capital expenditures
- $5,068 0.0% of revenue
- Free cash flow
- $4.6M 2.2% margin
- Returned to shareholders
- —
- Change in cash
- $3.3M cash at year-end $10.1M
Drawn to scale: where the cash came from and how it was used. Hover for values.
HTCO operating cash flow, capex and free cash flow
HTCO cash flow trends, FY2020–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $1.1MFY2020 | $4.6MFY2025 | +33.2%/yr | |
| Capital expenditures | $1,563FY2020 | $5,068FY2025 | +26.5%/yr | |
| Free cash flow | $1.1MFY2020 | $4.6MFY2025 | +33.2%/yr | |
| Free cash flow margin | 1.4%FY2020 | 2.2%FY2025 | +0.8 pts | |
| Operating cash flow / net income | 0.06FY2021 | 1.40FY2022 | +1.34 | |
| Stock-based compensation | $0FY2022 | $21.9MFY2025 | — | |
| Dividends paid | $0FY2020 | $0FY2025 | — | |
| Capex / revenue | 0.0%FY2020 | 0.0%FY2025 | 0.0 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HTCO cash flow by activity
HTCO 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).
HTCO cash flow statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating activities | ||||||
| Net income | −$21.5M | −$21.2M | −$15.8M | $23.6M | $10.3M | −$5.8M |
| Depreciation & amortization | $72,958 | $106,426 | $85,752 | $42,042 | $40,085 | $39,594 |
| Stock-based compensation | $21.9M | $1.2M | $0 | $0 | — | — |
| Change in working capital | $2.7M | −$6.9M | −$2.1M | $9.5M | −$9.7M | $6.8M |
| Other non-cash items | $1.4M | $23.5M | −$1,076 | −$341 | $208 | $789 |
| Cash from operating activities | $4.6M | −$3.3M | −$17.8M | $33.1M | $632,490 | $1.1M |
| Investing activities | ||||||
| Capital expenditures | −$5,068 | −$4 | $0 | $0 | −$1 | −$1,563 |
| Investments (net) | — | — | $0 | $0 | $300,000 | −$301,563 |
| Acquisitions & other investing | −$3 | — | — | $7,419 | $1 | $1,563 |
| Cash from investing activities | −$5,071 | — | — | $7,419 | $300,000 | −$301,563 |
| Financing activities | ||||||
| Dividends paid | $0 | $0 | −$902,000 | −$17.0M | $0 | $0 |
| Net borrowing (repayment) | −$1.7M | $13.6M | $12.5M | $1.5M | $1.3M | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $380,130 | −$5.7M | −$13.2M | −$6.5M | $50,041 | $4.9M |
| Cash from financing activities | −$1.3M | $8.0M | −$1.6M | −$21.9M | $1.3M | $4.9M |
| Summary | ||||||
| Net change in cash | $3.3M | $4.6M | −$19.4M | $11.2M | $2.2M | $5.7M |
| Cash at end of period | $10.1M | $6.9M | $2.2M | $21.6M | $10.4M | $8.1M |
| Free cash flow | $4.6M | −$3.3M | −$17.8M | $33.1M | $632,490 | $1.1M |
| Free cash flow margin | 2.2% | −3.1% | −18.7% | 17.9% | 0.5% | 1.4% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Operating cash flow / net income | — | — | — | 1.40 | 0.06 | — |
| Apr '26 | Oct '25 | Apr '25 | Oct '24 | Apr '24 | Oct '22 | Jul '22 | Apr '22 | Oct '21 | Jul '21 | Apr '21 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | |||||||||||
| Net income | −$3.5M | −$8.2M | −$13.3M | −$22.8M | −$771,665 | −$24,960 | −$12,480 | $23.6M | −$72,018 | −$36,009 | $10.3M |
| Depreciation & amortization | $37,496 | $37,253 | $35,705 | $52,337 | $54,089 | — | — | $42,042 | — | — | $40,085 |
| Stock-based compensation | $3.4M | — | — | — | — | — | — | — | — | — | — |
| Change in working capital | $4.6M | −$1.9M | $4.6M | −$3.2M | −$3.7M | $102,068 | $51,034 | $9.4M | −$453,970 | −$226,985 | −$9.2M |
| Other non-cash items | $1.4M | $8.1M | $15.1M | $26.1M | $929,311 | −$450,586 | −$225,293 | $450,245 | −$172 | −$86 | $380 |
| Cash from operating activities | $5.9M | −$1.9M | $6.5M | $172,384 | −$3.5M | −$373,478 | −$186,739 | $33.5M | −$526,160 | −$263,080 | $1.2M |
| Investing activities | |||||||||||
| Capital expenditures | $0 | −$5 | −$5,073 | −$4 | $0 | $0 | −$1 | −$3 | $0 | $0 | −$5 |
| Acquisitions & other investing | — | — | $2 | — | — | −$1.1M | −$568,316 | $1.1M | −$116.2M | −$58.1M | $116.5M |
| Cash from investing activities | — | — | −$5,071 | — | — | −$1.1M | −$568,317 | $1.1M | −$116.2M | −$58.1M | $116.5M |
| Financing activities | |||||||||||
| Dividends paid | — | — | — | — | — | — | — | −$17.0M | — | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $1.3M | −$1.2M | −$131,023 | $3.3M | $4.6M | $1.4M | $725,000 | −$6.4M | $117.1M | $58.5M | −$115.7M |
| Cash from financing activities | $1.3M | −$1.2M | −$131,023 | $3.3M | $4.6M | $1.4M | $725,000 | −$23.4M | $117.1M | $58.5M | −$115.7M |
| Summary | |||||||||||
| Net change in cash | $7.2M | −$3.1M | $6.4M | $3.5M | $1.1M | −$30,057 | −$30,057 | $11.2M | $187,181 | $187,181 | $2.2M |
| Cash at end of period | $17.3M | $10.1M | $13.2M | $6.9M | $3.4M | $11,892 | $11,892 | $21.6M | $290,514 | $290,514 | $10.4M |
| Free cash flow | $5.9M | −$1.9M | $6.5M | $172,380 | −$3.5M | −$373,480 | −$186,740 | $33.5M | −$526,160 | −$263,080 | $1.2M |
| Free cash flow margin | 4.3% | −1.6% | 6.6% | 0.2% | −10.0% | −0.2% | — | — | — | — | — |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — | — |
| Operating cash flow / net income | — | — | — | — | — | — | — | 1.42 | — | — | 0.11 |
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.
HTCO cash generation
In fiscal 2025 (ended October 31, 2025), Caravelle International generated $4.6 million of cash from operations and spent $0.0 million on capital expenditures, leaving free cash flow of $4.6 million, 2.2% of revenue. Cash and equivalents rose by $3.3 million over the year.
Related: HTCO income statement, HTCO balance sheet. See the HTCO stock overview for the latest quote and news.
HTCO cash flow FAQ
What is Caravelle International's free cash flow?
Caravelle International's free cash flow was $4.6 million in fiscal 2025: $4.6 million of operating cash flow minus $0.0 million of capital expenditures It was -$3.3 million a year earlier..
How much cash does Caravelle International generate from operations?
Caravelle International generated $4.6 million of cash from operating activities in fiscal 2025.
How much does Caravelle International spend on capital expenditures?
Caravelle International spent $0.0 million on capital expenditures in fiscal 2025, 0.0% of revenue, compared with $0.0 million the year before.