iHuman Inc. (IH) Cash Flow Statement

NYSE: IHOperating cash, capex, free cash flow and buybacks.

Where IH’s cash came from and went, 2025

December 31, 2025 · Chinese yuan
Cash from operations
CN¥49.9M
−14.7% vs 2024
Capital expenditures
CN¥4.8M
0.6% of revenue
Free cash flow
CN¥45.1M
5.6% margin
Returned to shareholders
CN¥54.7M
121% of free cash flow
Change in cash
CN¥75.8M
cash at year-end CN¥1.15B
Cash from operations: CN¥49.9MCash from operationsCN¥49.9MInvestments (net): CN¥45.5MInvestments (net)CN¥45.5MCurrency & other: CN¥41.1MCurrency & otherCN¥41.1MDividends: CN¥38.0MDividendsCN¥38.0M · 28%Share buybacks: CN¥16.7MShare buybacksCN¥16.7M · 12%Capital expenditures: CN¥4.8MCapital expendituresCN¥4.8M · 3%Added to cash: CN¥75.8MAdded to cashCN¥75.8M · 55%Acquisitions & other: CN¥1.2MAcquisitions & otherCN¥1.2M · 1%CN¥136.5M
Cash from operations
CN¥49.9M
Capital expenditures
−CN¥4.8M
Investments (net)
+CN¥45.5M
Acquisitions & other
−CN¥1.2M
Dividends
−CN¥38.0M
Share buybacks (net)
−CN¥16.7M
Currency & other
+CN¥41.1M
Change in cash
CN¥75.8M

Drawn to scale: where the cash came from and how it was used. Hover for values.

IH operating cash flow, capex and free cash flow

Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)

IH cash flow trends, 2018–2025

MetricTrendThenLatestChange
Operating cash flow−CN¥4.5M2018CN¥49.9M2025—
Capital expendituresCN¥529,0002018CN¥4.8M2025+36.9%/yr
Free cash flow−CN¥5.0M2018CN¥45.1M2025—
Free cash flow margin−3.8%20185.6%2025+9.4 pts
Operating cash flow / net income1.7220220.522025−1.19
Stock-based compensationCN¥270.5M2019CN¥722,0002025−62.8%/yr
Dividends paidCN¥10.9M2018CN¥38.0M2025+19.6%/yr
Share buybacks (net)CN¥02018CN¥16.7M2025—
Capex / revenue0.4%20180.6%2025+0.2 pts

Change is the average annual growth (CAGR) or the difference between the first and latest year.

IH cash flow by activity

OperatingInvestingFinancingChange in cash

IH net income vs operating cash flow

Net incomeOperating cash flow

Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).

IH cash flow statement in Chinese yuan

20252024202320222021202020192018
Operating activities
Net incomeCN¥95.4MCN¥98.6MCN¥180.9MCN¥752.5M−CN¥37.1M−CN¥37.5M−CN¥275.6M−CN¥17.6M
Depreciation & amortizationCN¥7.7MCN¥13.7MCN¥11.7MCN¥10.8MCN¥6.4MCN¥2.8MCN¥597,000CN¥365,000
Stock-based compensationCN¥722,000CN¥2.8MCN¥9.4MCN¥89.4MCN¥15.2MCN¥79.9MCN¥270.5M—
Change in working capital−CN¥55.9M−CN¥58.5M−CN¥40.4MCN¥178.0MCN¥30.2MCN¥165.0MCN¥46.8MCN¥12.5M
Other non-cash itemsCN¥2.0MCN¥2.0MCN¥10.4MCN¥260.7MCN¥23.4MCN¥12.7MCN¥249,000CN¥194,000
Cash from operating activitiesCN¥49.9MCN¥58.5MCN¥172.1MCN¥1.29BCN¥38.2MCN¥223.0MCN¥42.6M−CN¥4.5M
Investing activities
Capital expenditures−CN¥4.8M−CN¥7.4M−CN¥6.5M−CN¥45.1M−CN¥32.3M−CN¥15.9M−CN¥2.4M−CN¥529,000
Investments (net)CN¥45.5M−CN¥52.8M−CN¥6.5M−CN¥32.8M−CN¥32.0M−CN¥15.9M−CN¥2.4M−CN¥529,000
Acquisitions & other investing−CN¥1.2MCN¥7.4MCN¥6.5M−CN¥147.0MCN¥32.3MCN¥15.9MCN¥2.4MCN¥529,000
Cash from investing activitiesCN¥39.4M−CN¥52.8M−CN¥6.5M−CN¥225.0M−CN¥32.0M−CN¥15.9M−CN¥2.4M−CN¥529,000
Financing activities
Dividends paid−CN¥38.0M−CN¥35.3MCN¥0CN¥0CN¥0−CN¥66.0M−CN¥3.1M−CN¥10.9M
Share repurchases & issuance (net)−CN¥16.7M−CN¥9.6M−CN¥9.5M−CN¥7.0M−CN¥164,000CN¥629.6MCN¥123.4MCN¥0
Net borrowing (repayment)————CN¥0—−CN¥61.8MCN¥21.2M
Shares issuedCN¥0CN¥0CN¥0CN¥0CN¥0CN¥629.6MCN¥120.0MCN¥0
Other financingCN¥179,954−CN¥57.4MCN¥94,000−CN¥40.7MCN¥574,000−CN¥621.1M−CN¥120.0MCN¥0
Cash from financing activities−CN¥54.6M−CN¥102.3M−CN¥9.4M−CN¥47.7MCN¥410,000CN¥572.0MCN¥58.5MCN¥10.3M
Summary
Net change in cashCN¥75.8M−CN¥90.5MCN¥163.8MCN¥1.33B−CN¥6.3MCN¥756.8MCN¥98.8MCN¥5.3M
Cash at end of periodCN¥1.15BCN¥1.12BCN¥1.21BCN¥7.19BCN¥855.4MCN¥861.7MCN¥104.9MCN¥6.1M
Free cash flowCN¥45.1MCN¥51.1MCN¥165.6MCN¥1.25BCN¥5.9MCN¥207.1MCN¥40.2M−CN¥5.0M
Free cash flow margin5.6%5.5%16.3%126.5%0.6%38.9%18.4%−3.8%
Capex / revenue0.6%0.8%0.6%4.6%3.4%3.0%1.1%0.4%
Operating cash flow / net income0.520.590.951.72————

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.

IH cash generation

In fiscal 2025 (ended December 31, 2025), iHuman generated CN¥49.9 million of cash from operations (down 14.7%) and spent CN¥4.8 million on capital expenditures, leaving free cash flow of CN¥45.1 million, 5.6% of revenue. It returned CN¥54.7 million to shareholders through dividends (CN¥38.0 million) and net share buybacks (CN¥16.7 million). Cash and equivalents rose by CN¥75.8 million over the year.

Related: IH income statement, IH dividend history. See the IH stock overview for the latest quote and news.

IH cash flow FAQ

What is iHuman's free cash flow?

iHuman's free cash flow was CN¥45.1 million in fiscal 2025: CN¥49.9 million of operating cash flow minus CN¥4.8 million of capital expenditures It was CN¥51.1 million a year earlier..

How much cash does iHuman generate from operations?

iHuman generated CN¥49.9 million of cash from operating activities in fiscal 2025, 0.52 times its net income of CN¥95.4 million.

How much does iHuman spend on capital expenditures?

iHuman spent CN¥4.8 million on capital expenditures in fiscal 2025, 0.6% of revenue, compared with CN¥7.4 million the year before.

How much stock does iHuman buy back?

iHuman spent CN¥16.7 million on net share repurchases in fiscal 2025.

How much does iHuman pay in dividends?

iHuman paid CN¥38.0 million in dividends in fiscal 2025, 84.2% of free cash flow.

Education & Training Services: cash flow