Magic Empire Global Limited (MEGL) Cash Flow Statement

NASDAQ: MEGLOperating cash, capex, free cash flow and buybacks.

Where MEGL’s cash came from and went, 2025

December 31, 2025 · Hong Kong dollars

Cash from operations: −HK$6.8M
Capital expenditures: HK$0
Free cash flow: −HK$6.8M
Returned to shareholders: —
Change in cash: −HK$6.8M

Cash from operations

−HK$6.8M

Change in cash

−HK$6.8M

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

MEGL operating cash flow, capex and free cash flow

Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)

MEGL cash flow trends, 2020–2025

Magic Empire Global Limited cash flow trends
Metric	Then	Latest	Change
Operating cash flow	−HK$4.0M2020	−HK$6.8M2025	—
Capital expenditures	HK$02020	HK$02025	—
Free cash flow	−HK$4.0M2020	−HK$6.8M2025	—
Free cash flow margin	−19.5%2020	−58.8%2025	−39.3 pts
Operating cash flow / net income	−0.952020	0.442021	+1.39
Stock-based compensation	HK$2.8M2021	−HK$3.6M2022	—
Dividends paid	HK$3.8M2020	HK$02025	−100.0%
Capex / revenue	0.0%2020	0.0%2025	0.0 pts

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

MEGL cash flow by activity

OperatingInvestingFinancingChange in cash

MEGL 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).

MEGL cash flow statement in Hong Kong dollars

Magic Empire Global Limited annual cash flow statement
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	−HK$8.3M	−HK$4.7M	−HK$483,812	−HK$3.8M	HK$1.5M	HK$4.2M
Depreciation & amortization	HK$1.8M	HK$2.1M	HK$2.1M	HK$2.0M	HK$3.0M	HK$3.3M
Stock-based compensation	—	—	—	−HK$3.6M	HK$2.8M	—
Change in working capital	HK$267,197	−HK$975,000	−HK$2.3M	HK$350,115	−HK$5.1M	−HK$11.7M
Other non-cash items	−HK$578,172	−HK$1.0M	HK$800,098	HK$4.2M	−HK$1.6M	HK$195,193
Cash from operating activities	−HK$6.8M	−HK$4.7M	HK$94,490	−HK$910,364	HK$678,653	−HK$4.0M
Investing activities
Capital expenditures	HK$0	HK$0	−HK$1.9M	HK$0	HK$0	HK$0
Investments (net)	HK$0	HK$39.8M	−HK$27.9M	−HK$14.6M	HK$0	HK$0
Acquisitions & other investing	—	HK$264	HK$1.9M	HK$0	—	—
Cash from investing activities	—	HK$39.8M	−HK$27.9M	−HK$14.6M	—	—
Financing activities
Dividends paid	HK$0	HK$0	−HK$1.6M	−HK$4.0M	HK$0	−HK$3.8M
Shares issued	HK$0	HK$0	HK$0	HK$140.5M	HK$0	HK$0
Other financing	HK$0	HK$0	HK$0	−HK$10.9M	HK$3.1M	−HK$50,000
Cash from financing activities	HK$0	HK$0	−HK$1.6M	HK$125.6M	HK$3.1M	−HK$3.8M
Summary
Net change in cash	−HK$6.8M	HK$35.1M	−HK$29.4M	HK$110.1M	HK$3.8M	−HK$7.8M
Cash at end of period	HK$120.7M	HK$127.5M	HK$92.4M	HK$121.8M	HK$11.7M	HK$7.9M
Free cash flow	−HK$6.8M	−HK$4.7M	−HK$1.8M	−HK$910,364	HK$678,653	−HK$4.0M
Free cash flow margin	−58.8%	−36.4%	−13.1%	−8.1%	4.0%	−19.5%
Capex / revenue	0.0%	0.0%	13.8%	0.0%	0.0%	0.0%
Operating cash flow / net income	—	—	—	—	0.44	−0.95

Magic Empire Global Limited quarterly cash flow statement
	Mar '25	Jun '23	Mar '23	Dec '22	Dec '21	Sep '21
Operating activities
Net income	−HK$5.3M	HK$727,187	−HK$5.3M	HK$394,656	HK$1.5M	HK$394,656
Depreciation & amortization	HK$2.1M	HK$835,127	−HK$2.3M	HK$761,290	HK$1.4M	HK$761,290
Stock-based compensation	—	—	−HK$5.2M	—	HK$1.7M	—
Change in working capital	−HK$975,000	−HK$2.9M	HK$2.7M	−HK$908,878	−HK$2.2M	−HK$908,878
Other non-cash items	−HK$430,540	HK$371,518	HK$5.6M	−HK$77,405	HK$585,104	−HK$77,405
Cash from operating activities	−HK$4.7M	−HK$996,804	−HK$4.5M	HK$169,663	HK$3.0M	HK$169,663
Investing activities
Capital expenditures	HK$0	HK$0	HK$0	HK$0	HK$0	HK$0
Acquisitions & other investing	HK$39.8M	—	—	—	—	—
Cash from investing activities	HK$39.8M	—	—	—	—	—
Financing activities
Dividends paid	—	−HK$937,500	−HK$937,500	−HK$937,500	—	—
Shares issued	HK$0	HK$0	HK$0	HK$0	HK$0	HK$0
Other financing	—	—	−HK$2.9M	—	HK$4.3M	HK$782,306
Cash from financing activities	—	—	−HK$3.8M	—	HK$4.3M	HK$782,306
Summary
Net change in cash	HK$35.3M	−HK$1.9M	HK$121.8M	HK$951,970	HK$7.3M	HK$951,969
Cash at end of period	HK$127.5M	HK$2.0M	HK$121.8M	HK$2.9M	HK$7.3M	HK$2.9M
Free cash flow	−HK$4.7M	−HK$996,804	−HK$4.5M	HK$169,663	HK$3.0M	HK$169,663
Free cash flow margin	−91.8%	−16.4%	−133.6%	4.0%	31.8%	—
Capex / revenue	0.0%	0.0%	0.0%	0.0%	0.0%	—
Operating cash flow / net income	—	−1.37	—	0.43	1.95	0.43

Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in Hong Kong dollars as reported; data from EODHD.

MEGL cash generation

In fiscal 2025 (ended December 31, 2025), Magic Empire Global generated -HK$6.8 million of cash from operations and spent HK$0 on capital expenditures, leaving free cash flow of -HK$6.8 million, −58.8% of revenue. Cash and equivalents fell by HK$6.8 million over the year.

Related: MEGL income statement, MEGL balance sheet. See the MEGL stock overview for the latest quote and news.

MEGL cash flow FAQ

What is Magic Empire Global's free cash flow?

Magic Empire Global's free cash flow was -HK$6.8 million in fiscal 2025: -HK$6.8 million of operating cash flow minus HK$0 of capital expenditures It was -HK$4.7 million a year earlier..

How much cash does Magic Empire Global generate from operations?

Magic Empire Global generated -HK$6.8 million of cash from operating activities in fiscal 2025.