IT Tech Packaging, Inc. (ITP) Cash Flow Statement
Where ITP’s cash came from and went, 2024
December 31, 2024 · U.S. dollars- Cash from operations
- $6.3M −51.1% vs 2023
- Capital expenditures
- $329,611 0.4% of revenue
- Free cash flow
- $6.0M 7.9% margin
- Returned to shareholders
- —
- Change in cash
- $2.6M cash at year-end $7.0M
Cash from operations
$6.3M
Capital expenditures
−$329,611
Investments (net)
−$329,611
Acquisitions & other
+$329,611
Net borrowing (repayment)
−$3.3M
Currency & other
−$154,507
Change in cash
$2.6M
Drawn to scale: where the cash came from and how it was used. Hover for values.
ITP operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
ITP cash flow trends, 2015–2024
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $21.2M2015 | $6.3M2024 | −12.6%/yr | |
| Capital expenditures | $19.3M2015 | $329,6112024 | −36.4%/yr | |
| Free cash flow | $1.9M2015 | $6.0M2024 | +13.7%/yr | |
| Free cash flow margin | 1.4%2015 | 7.9%2024 | +6.5 pts | |
| Operating cash flow / net income | 1.842015 | −2.692021 | −4.53 | |
| Stock-based compensation | $1.4M2016 | −$1.4M2023 | — | |
| Dividends paid | $02015 | $02017 | — | |
| Share buybacks (net) | $02015 | $02022 | — | |
| Capex / revenue | 14.3%2015 | 0.4%2024 | −13.9 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ITP cash flow by activity
OperatingInvestingFinancingChange in cash
ITP 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).
ITP cash flow statement
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$9.8M | −$9.9M | −$16.6M | $905,535 | −$5.6M | $2.2M | −$10.5M | $1.7M | $7.3M | $11.5M |
| Depreciation & amortization | $14.2M | $14.2M | $14.8M | $15.4M | $15.8M | $15.3M | $14.3M | $14.6M | $15.3M | $13.4M |
| Stock-based compensation | — | −$1.4M | $156,000 | $14,700 | $1.3M | $1.2M | $470,361 | — | $1.4M | — |
| Change in working capital | $171,676 | $7.6M | $2.7M | −$15.6M | $6.6M | −$7.7M | $3.1M | $945,817 | −$7.0M | −$2.5M |
| Other non-cash items | $1.7M | $2.4M | $9.7M | −$3.1M | −$2.0M | −$3.5M | $2.5M | $912,403 | −$1.7M | −$1.2M |
| Cash from operating activities | $6.3M | $12.9M | $10.7M | −$2.4M | $16.1M | $7.5M | $9.8M | $18.2M | $15.3M | $21.2M |
| Investing activities | ||||||||||
| Capital expenditures | −$329,611 | −$22.3M | −$10.9M | −$25.1M | −$21.1M | −$6.4M | −$2.2M | −$9.4M | −$11.6M | −$19.3M |
| Investments (net) | −$329,611 | −$11.9M | −$10.9M | −$25.1M | −$20.5M | −$7.9M | −$2.2M | −$9.3M | −$11.5M | — |
| Acquisitions & other investing | $329,611 | $12.0M | $10.9M | $25.1M | $21.1M | $6.4M | $2.2M | $9.4M | $11.6M | $0 |
| Cash from investing activities | −$329,611 | −$22.2M | −$10.9M | −$25.1M | −$20.5M | −$7.9M | −$2.2M | −$9.3M | −$11.5M | −$19.3M |
| Financing activities | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Share repurchases & issuance (net) | — | — | $0 | $41.8M | $2.3M | — | — | $0 | $0 | $0 |
| Net borrowing (repayment) | −$3.3M | $4.4M | −$4,851 | −$7.6M | −$218,505 | −$10.0M | −$8.2M | −$11.0M | −$3.7M | −$2.8M |
| Shares issued | $0 | $0 | $0 | $41.8M | $2.3M | $0 | $0 | $0 | $0 | $0 |
| Other financing | $0 | $0 | −$874,745 | −$41.8M | −$2.3M | $4.2M | $5.1M | $2.4M | $0 | $0 |
| Cash from financing activities | −$3.3M | $4.4M | −$879,596 | $34.2M | $2.1M | −$5.8M | −$3.2M | −$8.6M | −$3.7M | −$2.8M |
| Summary | ||||||||||
| Net change in cash | $2.6M | −$5.1M | −$1.7M | $7.1M | −$1.7M | −$6.3M | $3.1M | $563,144 | −$309,271 | −$1.2M |
| Cash at end of period | $7.0M | $4.4M | $9.5M | $11.2M | $4.1M | $5.8M | $12.1M | $2.9M | $2.3M | $2.6M |
| Free cash flow | $6.0M | −$9.4M | −$179,143 | −$27.5M | −$5.0M | $1.1M | $7.6M | $8.8M | $3.7M | $1.9M |
| Free cash flow margin | 7.9% | −10.9% | −0.2% | −17.1% | −4.9% | 0.9% | 8.8% | 7.5% | 2.7% | 1.4% |
| Capex / revenue | 0.4% | 25.8% | 10.9% | 15.6% | 20.9% | 5.5% | 2.5% | 8.0% | 8.6% | 14.3% |
| Operating cash flow / net income | — | — | — | −2.69 | — | 3.39 | — | 10.94 | 2.09 | 1.84 |
| Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | −$1.4M | −$2.0M | −$3.5M | −$4.0M | −$2.0M | −$77,747 | −$3.7M | −$4.0M | −$2.0M | −$1.3M | −$2.7M | −$11.9M |
| Depreciation & amortization | $3.6M | $3.5M | $3.5M | $3.9M | $3.5M | $3.4M | $3.5M | $3.7M | $3.4M | $3.5M | $3.7M | $3.6M |
| Stock-based compensation | — | — | — | — | — | — | — | $0 | $3.1M | — | — | −$1.4M |
| Change in working capital | −$626,770 | −$158,211 | −$2.5M | $1.9M | −$5,373 | −$2.6M | $855,211 | $4.2M | $489,959 | −$1.3M | $4.2M | $1.4M |
| Other non-cash items | $363 | −$69,482 | $1,560 | $1.7M | −$19,205 | $12,508 | $33,957 | $1.5M | −$3.3M | $71,053 | −$385,557 | $11.6M |
| Cash from operating activities | $1.5M | $1.4M | −$2.5M | $3.5M | $1.5M | $721,917 | $624,420 | $5.4M | $1.7M | $936,791 | $4.8M | $3.3M |
| Investing activities | ||||||||||||
| Capital expenditures | −$83 | −$21,532 | −$8,364 | −$14,459 | −$252,512 | −$53,613 | −$9,027 | −$13.1M | −$3.6M | −$5.3M | −$295,018 | −$2.7M |
| Investments (net) | $4,110 | −$21,532 | −$8,364 | −$14,459 | −$252,512 | −$53,613 | −$9,027 | −$13.0M | −$3.6M | −$5.3M | −$295,018 | −$2.7M |
| Acquisitions & other investing | $83 | $21,532 | $8,364 | $14,459 | $252,512 | $53,613 | $9,027 | $13.1M | $3.6M | $5.3M | $295,018 | $2.7M |
| Cash from investing activities | $4,110 | −$21,532 | −$8,364 | −$14,459 | −$252,512 | −$53,613 | −$9,027 | −$13.0M | −$3.6M | −$5.3M | −$295,018 | −$2.7M |
| Financing activities | ||||||||||||
| Share repurchases & issuance (net) | $1.1M | $1.1M | — | — | — | — | — | — | — | — | — | $0 |
| Net borrowing (repayment) | $1,593 | −$318 | $585,456 | −$1.1M | −$2.5M | — | — | — | — | $258,951 | $258,951 | −$206,008 |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$1.1M | $4 | $0 | $0 | $0 | −$392 | $422,488 | $2.4M | −$826,328 | $0 | $2.3M | −$7.5M |
| Cash from financing activities | $1,593 | $1.1M | $585,456 | −$1.1M | −$2.5M | −$392 | $422,488 | $2.4M | −$826,328 | $258,951 | $2.6M | −$7.7M |
| Summary | ||||||||||||
| Net change in cash | $1.6M | $2.4M | −$1.9M | $2.1M | −$1.2M | $626,362 | $1.0M | −$5.0M | −$2.5M | −$4.8M | $7.2M | −$6.5M |
| Cash at end of period | $9.1M | $7.5M | $5.1M | $7.0M | $4.9M | $6.0M | $5.4M | $4.4M | $9.4M | $12.0M | $16.8M | $9.5M |
| Free cash flow | $1.5M | $1.3M | −$2.5M | $3.5M | $1.2M | $668,304 | $615,393 | −$7.7M | −$1.9M | −$4.3M | $4.5M | $581,098 |
| Free cash flow margin | 5.9% | 5.4% | −22.8% | 19.6% | 4.9% | 2.5% | 9.0% | −36.7% | −12.0% | −14.4% | 22.8% | 2.7% |
| Capex / revenue | 0.0% | 0.1% | 0.1% | 0.1% | 1.0% | 0.2% | 0.1% | 62.4% | 23.1% | 17.6% | 1.5% | 12.7% |
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.
ITP cash generation
In fiscal 2024 (ended December 31, 2024), IT Tech Packaging generated $6.3 million of cash from operations (down 51.1%) and spent $0.3 million on capital expenditures, leaving free cash flow of $6.0 million, 7.9% of revenue. Cash and equivalents rose by $2.6 million over the year.
Related: ITP income statement, ITP balance sheet. See the ITP stock overview for the latest quote and news.
ITP cash flow FAQ
What is IT Tech Packaging's free cash flow?
IT Tech Packaging's free cash flow was $6.0 million in fiscal 2024: $6.3 million of operating cash flow minus $0.3 million of capital expenditures It was -$9.4 million a year earlier..
How much cash does IT Tech Packaging generate from operations?
IT Tech Packaging generated $6.3 million of cash from operating activities in fiscal 2024.
How much does IT Tech Packaging spend on capital expenditures?
IT Tech Packaging spent $0.3 million on capital expenditures in fiscal 2024, 0.4% of revenue, compared with $22.3 million the year before.