Momo Inc (MOMO) Cash Flow Statement
Where MOMO’s cash came from and went, 2025
December 31, 2025 · Chinese yuan- Cash from operations
- CN¥1.15B −29.8% vs 2024
- Capital expenditures
- CN¥479.1M 4.6% of revenue
- Free cash flow
- CN¥671.8M 6.5% margin
- Returned to shareholders
- CN¥1.09B 162% of free cash flow
- Change in cash
- −CN¥2.88B cash at year-end CN¥5.44B
Cash from operations
CN¥1.15B
Capital expenditures
−CN¥479.1M
Investments (net)
+CN¥1.34B
Acquisitions & other
−CN¥700.5M
Dividends
−CN¥336.8M
Share buybacks (net)
−CN¥749.2M
Net borrowing (repayment)
−CN¥4.33B
Other financing
+CN¥120.9M
Currency & other
+CN¥1.10B
Change in cash
−CN¥2.88B
Drawn to scale: where the cash came from and how it was used. Hover for values.
MOMO operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
MOMO cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | CN¥1.52B2016 | CN¥1.15B2025 | −3.0%/yr | |
| Capital expenditures | CN¥48.8M2016 | CN¥479.1M2025 | +28.9%/yr | |
| Free cash flow | CN¥1.47B2016 | CN¥671.8M2025 | −8.3%/yr | |
| Free cash flow margin | 39.6%2016 | 6.5%2025 | −33.1 pts | |
| Operating cash flow / net income | 1.502016 | 1.462025 | −0.04 | |
| Stock-based compensation | CN¥220.2M2016 | CN¥162.7M2025 | −3.3%/yr | |
| Dividends paid | CN¥02016 | CN¥336.8M2025 | — | |
| Share buybacks (net) | CN¥02016 | CN¥749.2M2025 | — | |
| Capex / revenue | 1.3%2016 | 4.6%2025 | +3.3 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MOMO cash flow by activity
OperatingInvestingFinancingChange in cash
MOMO 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).
MOMO cash flow statement in Chinese yuan
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | CN¥787.0M | CN¥1.04B | CN¥1.95B | CN¥1.48B | −CN¥2.93B | CN¥2.10B | CN¥2.96B | CN¥2.79B | CN¥2.08B | CN¥1.01B |
| Depreciation & amortization | CN¥81.8M | CN¥58.7M | CN¥79.6M | CN¥112.1M | CN¥264.6M | CN¥366.2M | CN¥356.2M | CN¥241.3M | CN¥83.7M | CN¥55.8M |
| Stock-based compensation | CN¥162.7M | CN¥192.6M | CN¥267.1M | CN¥401.5M | CN¥475.8M | CN¥678.7M | CN¥1.41B | CN¥580.8M | CN¥324.2M | CN¥220.2M |
| Change in working capital | CN¥114.4M | CN¥74.7M | −CN¥131.7M | −CN¥637.7M | −CN¥662.0M | −CN¥145.7M | CN¥672.8M | −CN¥275.6M | CN¥317.9M | CN¥212.8M |
| Other non-cash items | CN¥4.9M | CN¥274.4M | CN¥110.5M | −CN¥129.0M | CN¥4.41B | CN¥81.3M | CN¥50.9M | −CN¥7.3M | −CN¥10.4M | CN¥18.5M |
| Cash from operating activities | CN¥1.15B | CN¥1.64B | CN¥2.28B | CN¥1.23B | CN¥1.56B | CN¥3.08B | CN¥5.45B | CN¥3.33B | CN¥2.79B | CN¥1.52B |
| Investing activities | ||||||||||
| Capital expenditures | −CN¥479.1M | −CN¥285.5M | −CN¥576.3M | −CN¥80.4M | −CN¥95.3M | −CN¥124.1M | −CN¥186.5M | −CN¥242.8M | −CN¥230.5M | −CN¥48.8M |
| Investments (net) | CN¥1.34B | −CN¥558.9M | CN¥3.16B | CN¥1.72B | CN¥4.30B | CN¥4.63B | −CN¥3.54B | −CN¥10.03B | −CN¥178.3M | −CN¥821.8M |
| Acquisitions & other investing | −CN¥700.5M | CN¥285.5M | −CN¥167.9M | CN¥80.4M | −CN¥1.65B | −CN¥5.25B | −CN¥299.2M | CN¥242.8M | CN¥230.5M | CN¥48.8M |
| Cash from investing activities | CN¥160.0M | −CN¥558.9M | CN¥2.41B | CN¥1.72B | CN¥2.55B | −CN¥748.5M | −CN¥4.03B | −CN¥10.03B | −CN¥178.3M | −CN¥821.8M |
| Financing activities | ||||||||||
| Dividends paid | −CN¥336.8M | −CN¥716.3M | −CN¥958.1M | −CN¥841.0M | −CN¥852.7M | −CN¥1.12B | −CN¥877.3M | −CN¥9.9M | −CN¥9.9M | CN¥0 |
| Share repurchases & issuance (net) | −CN¥749.2M | −CN¥1.20B | −CN¥212.2M | −CN¥392.4M | −CN¥862.9M | −CN¥330.2M | CN¥187,000 | CN¥5.3M | CN¥4.3M | CN¥0 |
| Net borrowing (repayment) | −CN¥4.33B | CN¥2.15B | −CN¥525.9M | −CN¥2.14B | −CN¥2.14B | −CN¥2.14B | −CN¥2.14B | CN¥4.81B | CN¥4.81B | CN¥4.81B |
| Shares issued | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 |
| Other financing | CN¥120.9M | CN¥18,000 | −CN¥3.7M | −CN¥62.2M | CN¥2.07B | CN¥2.09B | CN¥1.74B | −CN¥113.1M | −CN¥4.80B | −CN¥4.81B |
| Cash from financing activities | −CN¥5.29B | CN¥236.2M | −CN¥1.70B | −CN¥3.43B | −CN¥1.79B | −CN¥1.50B | −CN¥1.27B | CN¥4.69B | CN¥2.7M | CN¥97,213 |
| Summary | ||||||||||
| Net change in cash | −CN¥2.88B | CN¥1.36B | CN¥3.08B | −CN¥448.4M | CN¥2.28B | CN¥753.3M | CN¥144.7M | −CN¥1.99B | CN¥2.80B | CN¥611.7M |
| Cash at end of period | CN¥5.44B | CN¥9.64B | CN¥8.28B | CN¥5.20B | CN¥5.65B | CN¥3.37B | CN¥2.61B | CN¥2.47B | CN¥4.48B | CN¥1.79B |
| Free cash flow | CN¥671.8M | CN¥1.35B | CN¥1.70B | CN¥1.15B | CN¥1.46B | CN¥2.96B | CN¥5.26B | CN¥3.08B | CN¥2.56B | CN¥1.47B |
| Free cash flow margin | 6.5% | 12.8% | 14.2% | 9.0% | 10.0% | 19.7% | 30.9% | 23.0% | 28.8% | 39.6% |
| Capex / revenue | 4.6% | 2.7% | 4.8% | 0.6% | 0.7% | 0.8% | 1.1% | 1.8% | 2.6% | 1.3% |
| Operating cash flow / net income | 1.46 | 1.58 | 1.17 | 0.83 | — | 1.47 | 1.84 | 1.19 | 1.34 | 1.50 |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | CN¥237.7M | CN¥289.3M | CN¥237.8M | CN¥349.6M | −CN¥139.4M | CN¥358.5M | CN¥187.2M | CN¥449.4M | CN¥397.8M | CN¥5.2M | CN¥452.5M | CN¥542.2M |
| Depreciation & amortization | CN¥25.1M | CN¥24.4M | CN¥24.4M | CN¥19.9M | CN¥18.9M | CN¥18.6M | CN¥13.9M | CN¥14.4M | CN¥14.8M | CN¥15.6M | CN¥16.7M | CN¥18.7M |
| Stock-based compensation | CN¥30.1M | CN¥31.3M | CN¥33.4M | CN¥50.6M | CN¥37.8M | CN¥40.9M | CN¥42.5M | CN¥44.0M | CN¥51.5M | CN¥54.7M | CN¥62.2M | CN¥59.5M |
| Change in working capital | CN¥360.0M | −CN¥180.8M | CN¥194.6M | −CN¥278.5M | CN¥345.8M | −CN¥144.3M | CN¥168.3M | −CN¥134.5M | CN¥46.2M | −CN¥40.0M | −CN¥187.0M | −CN¥37.5M |
| Other non-cash items | −CN¥13.4M | −CN¥4.9M | CN¥59.4M | CN¥1.8M | −CN¥12.9M | −CN¥33.9M | CN¥11.7M | −CN¥32.3M | −CN¥35.0M | CN¥364.7M | CN¥71.5M | −CN¥449,000 |
| Cash from operating activities | CN¥639.5M | CN¥159.2M | CN¥549.7M | CN¥143.5M | CN¥250.1M | CN¥239.7M | CN¥423.6M | CN¥341.0M | CN¥475.2M | CN¥400.2M | CN¥415.9M | CN¥582.5M |
| Investing activities | ||||||||||||
| Capital expenditures | −CN¥15.1M | −CN¥15.1M | −CN¥320.2M | −CN¥118.4M | −CN¥26.2M | −CN¥27.8M | −CN¥21.7M | −CN¥19.8M | −CN¥199.8M | −CN¥44.2M | −CN¥316.8M | −CN¥238.2M |
| Investments (net) | CN¥1.01B | CN¥158.1M | CN¥1.25B | −CN¥1.10B | −CN¥104.7M | CN¥1.01B | CN¥884.0M | −CN¥2.28B | CN¥576.2M | CN¥258.2M | CN¥430.8M | CN¥1.38B |
| Acquisitions & other investing | CN¥547,124 | CN¥2.6M | −CN¥33.4M | −CN¥421.5M | CN¥26.2M | CN¥27.8M | — | CN¥19.8M | CN¥199.8M | CN¥44.2M | CN¥316.8M | −CN¥798.7M |
| Cash from investing activities | CN¥991.6M | CN¥145.6M | CN¥898.7M | −CN¥1.64B | −CN¥104.7M | CN¥1.01B | — | −CN¥2.28B | CN¥576.2M | CN¥258.2M | CN¥430.8M | CN¥346.8M |
| Financing activities | ||||||||||||
| Dividends paid | −CN¥278.7M | −CN¥749,103 | −CN¥749,103 | −CN¥301,487 | −CN¥346.2M | — | CN¥0 | CN¥0 | −CN¥716.3M | −CN¥20.8M | −CN¥20.8M | −CN¥20.8M |
| Share repurchases & issuance (net) | −CN¥185.2M | −CN¥186.1M | −CN¥321.2M | −CN¥147.2M | −CN¥97.2M | −CN¥201.5M | −CN¥425.2M | −CN¥265.4M | −CN¥394.6M | −CN¥112.3M | −CN¥150.2M | −CN¥58.8M |
| Net borrowing (repayment) | −CN¥633,000 | −CN¥732,000 | −CN¥586,000 | −CN¥2.61B | −CN¥20.5M | −CN¥1.69B | CN¥0 | CN¥818.5M | CN¥0 | — | — | CN¥2.07B |
| Shares issued | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 |
| Other financing | −CN¥82.0M | −CN¥20.0M | CN¥17.9M | −CN¥16.8M | CN¥2,000 | CN¥2,000 | CN¥1,000 | CN¥4,000 | CN¥2,000 | CN¥1.35B | CN¥31,000 | CN¥21.1M |
| Cash from financing activities | −CN¥546.5M | −CN¥207.6M | −CN¥304.7M | −CN¥2.78B | −CN¥463.9M | −CN¥1.89B | −CN¥425.2M | CN¥553.1M | −CN¥1.11B | CN¥1.22B | −CN¥171.0M | CN¥2.01B |
| Summary | ||||||||||||
| Net change in cash | CN¥1.17B | CN¥132.6M | CN¥1.12B | −CN¥4.28B | −CN¥372.1M | −CN¥670.7M | CN¥1.05B | −CN¥1.56B | −CN¥31.7M | CN¥1.90B | CN¥641.1M | CN¥2.93B |
| Cash at end of period | CN¥6.61B | CN¥5.49B | CN¥5.44B | CN¥4.32B | CN¥8.60B | CN¥8.97B | CN¥9.64B | CN¥8.59B | CN¥10.15B | CN¥10.18B | CN¥8.28B | CN¥7.64B |
| Free cash flow | CN¥624.4M | CN¥144.2M | CN¥229.5M | CN¥25.2M | CN¥224.0M | CN¥211.9M | CN¥401.9M | CN¥321.2M | CN¥275.4M | CN¥356.0M | CN¥99.0M | CN¥344.2M |
| Free cash flow margin | 25.1% | 6.0% | 8.9% | 1.0% | 8.5% | 8.4% | 15.2% | 12.0% | 10.2% | 13.9% | 3.3% | 11.3% |
| Capex / revenue | 0.6% | 0.6% | 12.4% | 4.5% | 1.0% | 1.1% | 0.8% | 0.7% | 7.4% | 1.7% | 10.6% | 7.8% |
| Operating cash flow / net income | 2.69 | 0.55 | 2.31 | 0.41 | — | 0.67 | 2.26 | 0.76 | 1.19 | 77.19 | 0.92 | 1.07 |
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.
MOMO cash generation
In fiscal 2025 (ended December 31, 2025), Momo generated CN¥1.2 billion of cash from operations (down 29.8%) and spent CN¥479.1 million on capital expenditures, leaving free cash flow of CN¥671.8 million, 6.5% of revenue. It returned CN¥1.1 billion to shareholders through dividends (CN¥336.8 million) and net share buybacks (CN¥749.2 million). Cash and equivalents fell by CN¥2.9 billion over the year.
Related: MOMO income statement, MOMO balance sheet, MOMO dividend history. See the MOMO stock overview for the latest quote and news.
MOMO cash flow FAQ
What is Momo's free cash flow?
Momo's free cash flow was CN¥671.8 million in fiscal 2025: CN¥1.2 billion of operating cash flow minus CN¥479.1 million of capital expenditures It was CN¥1.4 billion a year earlier..
How much cash does Momo generate from operations?
Momo generated CN¥1.2 billion of cash from operating activities in fiscal 2025, 1.46 times its net income of CN¥787.0 million.
How much does Momo spend on capital expenditures?
Momo spent CN¥479.1 million on capital expenditures in fiscal 2025, 4.6% of revenue, compared with CN¥285.5 million the year before.
How much stock does Momo buy back?
Momo spent CN¥749.2 million on net share repurchases in fiscal 2025.
How much does Momo pay in dividends?
Momo paid CN¥336.8 million in dividends in fiscal 2025, 50.1% of free cash flow.