Millennium Group International Holdings Limited (MGIH) Cash Flow Statement
Where MGIH’s cash came from and went, FY2025
June 30, 2025 · U.S. dollars- Cash from operations
- −$1.7M
- Capital expenditures
- $2.0M 8.0% of revenue
- Free cash flow
- −$3.7M −14.8% margin
- Returned to shareholders
- —
- Change in cash
- −$2.6M cash at year-end $10.8M
Drawn to scale: where the cash came from and how it was used. Hover for values.
MGIH operating cash flow, capex and free cash flow
MGIH cash flow trends, FY2020–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $4.5MFY2020 | −$1.7MFY2025 | — | |
| Capital expenditures | $2.6MFY2020 | $2.0MFY2025 | −4.9%/yr | |
| Free cash flow | $1.9MFY2020 | −$3.7MFY2025 | — | |
| Free cash flow margin | 3.1%FY2020 | −14.8%FY2025 | −17.9 pts | |
| Operating cash flow / net income | 1.12FY2020 | 0.50FY2022 | −0.62 | |
| Dividends paid | $8.9MFY2020 | $0FY2024 | −100.0% | |
| Capex / revenue | 4.3%FY2020 | 8.0%FY2025 | +3.7 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MGIH cash flow by activity
MGIH 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).
MGIH cash flow statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating activities | ||||||
| Net income | −$6.3M | −$8.8M | −$354,111 | $4.1M | $3.7M | $4.0M |
| Depreciation & amortization | $980,202 | $1.4M | $1.7M | $1.9M | $2.1M | $2.1M |
| Change in working capital | $2.8M | $2.6M | $6.9M | −$4.1M | −$453,172 | −$1.8M |
| Other non-cash items | $819,687 | $701,352 | −$91,680 | $81,593 | −$6,405 | $210,130 |
| Cash from operating activities | −$1.7M | −$4.1M | $8.1M | $2.0M | $5.3M | $4.5M |
| Investing activities | ||||||
| Capital expenditures | −$2.0M | −$2.4M | −$216,520 | −$540,588 | −$1.2M | −$2.6M |
| Investments (net) | — | −$2.2M | −$216,520 | $2.1M | −$1.5M | — |
| Acquisitions & other investing | $469,436 | $2.4M | $216,520 | $540,588 | $1.2M | $1.1M |
| Cash from investing activities | −$1.6M | −$2.2M | −$216,520 | $2.1M | −$1.5M | −$1.5M |
| Financing activities | ||||||
| Dividends paid | — | $0 | $0 | −$8.9M | −$8.9M | −$8.9M |
| Share repurchases & issuance (net) | — | — | — | $26.4M | — | — |
| Net borrowing (repayment) | — | −$7.9M | −$2.4M | −$5.6M | −$7.3M | $5.3M |
| Shares issued | $0 | $0 | $4.2M | $8.9M | $0 | $0 |
| Other financing | $559,907 | $0 | $0 | −$26.4M | $8.9M | $9.3M |
| Cash from financing activities | $559,907 | −$7.9M | $1.8M | −$5.6M | −$7.3M | $5.7M |
| Summary | ||||||
| Net change in cash | −$2.6M | −$14.2M | $8.1M | −$1.8M | −$2.1M | $8.7M |
| Cash at end of period | $10.8M | $13.3M | $27.6M | $19.4M | $21.3M | $23.4M |
| Free cash flow | −$3.7M | −$6.5M | $7.9M | $1.5M | $4.1M | $1.9M |
| Free cash flow margin | −14.8% | −16.8% | 17.3% | 2.3% | 6.4% | 3.1% |
| Capex / revenue | 8.0% | 6.2% | 0.5% | 0.8% | 1.9% | 4.3% |
| Operating cash flow / net income | — | — | — | 0.50 | 1.46 | 1.12 |
| Mar '26 | Sep '25 | Dec '24 | Sep '24 | Dec '23 | Sep '23 | Dec '22 | Jun '22 | Mar '22 | Dec '21 | Jun '21 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | |||||||||||
| Net income | −$3.3M | −$3.2M | −$3.1M | −$7.9M | −$892,461 | −$1.3M | $967,624 | $2.1M | $1.1M | $1.9M | $707,697 |
| Depreciation & amortization | $544,119 | $436,840 | $543,362 | $709,055 | $689,807 | $849,710 | $852,621 | $1.1M | $570,584 | $794,894 | $984,920 |
| Change in working capital | $906,904 | $1.2M | $1.6M | $5.5M | −$2.9M | −$1.2M | $8.1M | −$2.3M | — | −$1.7M | −$866,316 |
| Other non-cash items | $154,426 | $348,665 | $471,023 | $886,264 | −$184,911 | −$45,328 | −$46,352 | −$174,196 | −$1.1M | $187,593 | −$148,147 |
| Cash from operating activities | −$1.7M | −$1.3M | −$437,376 | −$826,498 | −$3.3M | −$1.7M | $9.8M | $794,694 | $546,295 | $1.2M | $678,154 |
| Investing activities | |||||||||||
| Capital expenditures | −$1.1M | −$893,626 | −$1.1M | −$2.4M | −$36,268 | −$46,482 | −$170,037 | −$397,374 | −$187,198 | −$143,213 | −$711,552 |
| Acquisitions & other investing | $107,451 | $178,765 | $290,671 | $49,687 | $101,499 | −$552 | $552 | $2.6M | $1.4M | $0 | $7,814 |
| Cash from investing activities | −$963,625 | −$714,861 | −$839,442 | −$2.3M | $65,231 | −$47,034 | −$169,485 | $2.2M | $1.2M | −$143,213 | −$703,738 |
| Financing activities | |||||||||||
| Dividends paid | — | — | — | — | — | — | — | −$8.9M | −$4.4M | — | — |
| Net borrowing (repayment) | — | — | — | — | — | — | — | −$3.1M | −$3.1M | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$1.4M | $1.4M | −$843,996 | −$6.7M | −$1.2M | $4.2M | −$2.4M | $6.2M | $4.4M | $112,435 | −$1.2M |
| Cash from financing activities | −$1.4M | $1.4M | −$843,996 | −$6.7M | −$1.2M | $4.2M | −$2.4M | −$5.7M | −$3.1M | $112,435 | −$1.2M |
| Summary | |||||||||||
| Net change in cash | −$3.9M | −$425,482 | −$2.1M | −$10.1M | −$4.1M | $1.3M | $6.9M | −$3.2M | −$1.6M | $1.3M | −$1.3M |
| Cash at end of period | $6.9M | $10.8M | $11.2M | $13.3M | $23.4M | $27.6M | $26.3M | $19.4M | $22.6M | $22.6M | $21.3M |
| Free cash flow | −$2.8M | −$2.2M | −$1.6M | −$3.2M | −$3.3M | −$1.8M | $9.7M | $397,320 | $359,097 | $1.1M | −$33,398 |
| Free cash flow margin | −25.7% | −19.4% | −11.1% | −21.6% | −13.9% | −9.2% | 36.7% | 1.3% | — | 3.1% | −0.1% |
| Capex / revenue | 9.9% | 8.0% | 8.0% | 16.0% | 0.2% | 0.2% | 0.6% | 1.3% | — | 0.4% | 2.3% |
| Operating cash flow / net income | — | — | — | — | — | — | 10.17 | 0.37 | 0.51 | 0.64 | 0.96 |
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.
MGIH cash generation
In fiscal 2025 (ended June 30, 2025), Millennium Group International generated -$1.7 million of cash from operations and spent $2.0 million on capital expenditures, leaving free cash flow of -$3.7 million, −14.8% of revenue. Cash and equivalents fell by $2.6 million over the year.
Related: MGIH income statement, MGIH balance sheet. See the MGIH stock overview for the latest quote and news.
MGIH cash flow FAQ
What is Millennium Group International's free cash flow?
Millennium Group International's free cash flow was -$3.7 million in fiscal 2025: -$1.7 million of operating cash flow minus $2.0 million of capital expenditures It was -$6.5 million a year earlier..
How much cash does Millennium Group International generate from operations?
Millennium Group International generated -$1.7 million of cash from operating activities in fiscal 2025.
How much does Millennium Group International spend on capital expenditures?
Millennium Group International spent $2.0 million on capital expenditures in fiscal 2025, 8.0% of revenue, compared with $2.4 million the year before.