Emerson Radio Corp. (MSN) Cash Flow Statement
Where MSN’s cash came from and went, FY2026
March 31, 2026 · U.S. dollars- Cash from operations
- −$3.7M
- Capital expenditures
- $0 0.0% of revenue
- Free cash flow
- −$3.7M −59.0% margin
- Returned to shareholders
- —
- Change in cash
- $8.0M cash at year-end $9.2M
Cash from operations
−$3.7M
Investments (net)
+$11.7M
Change in cash
$8.0M
Drawn to scale: where the cash came from and how it was used. Hover for values.
MSN operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
MSN cash flow trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $1.9MFY2017 | −$3.7MFY2026 | — | |
| Capital expenditures | $5,000FY2017 | $0FY2026 | −100.0% | |
| Free cash flow | $1.9MFY2017 | −$3.7MFY2026 | — | |
| Free cash flow margin | 8.8%FY2017 | −59.0%FY2026 | −67.7 pts | |
| Dividends paid | $0FY2017 | $0FY2018 | — | |
| Share buybacks (net) | $66,000FY2017 | $0FY2020 | −100.0% | |
| Capex / revenue | 0.0%FY2017 | 0.0%FY2026 | 0.0 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MSN cash flow by activity
OperatingInvestingFinancingChange in cash
MSN 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).
MSN cash flow statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$4.3M | −$4.7M | $766,000 | −$1.4M | −$3.6M | −$4.0M | −$4.3M | −$2.4M | −$6.9M | −$237,000 |
| Depreciation & amortization | $82,000 | $79,000 | $25,000 | $1,000 | $214,000 | $233,000 | $35,000 | $5,000 | $8,000 | $16,000 |
| Change in working capital | $1.5M | −$253,000 | −$6.3M | $849,000 | −$1.1M | −$528,000 | $1.9M | $355,000 | $1.6M | $1.5M |
| Other non-cash items | −$954,000 | $1.3M | $204,000 | $204,000 | −$198,000 | −$22,000 | $451,000 | −$113,000 | $97,000 | $610,000 |
| Cash from operating activities | −$3.7M | −$3.6M | −$5.3M | −$306,000 | −$4.7M | −$4.3M | −$1.9M | −$2.2M | −$5.2M | $1.9M |
| Investing activities | ||||||||||
| Capital expenditures | $0 | −$195,000 | −$119,000 | $0 | −$2,000 | −$2,000 | −$2,000 | −$2,000 | −$4,000 | −$5,000 |
| Investments (net) | $11.7M | −$15.1M | −$119,000 | −$50,000 | $25.0M | $3.1M | $270,000 | −$12.4M | $9.1M | −$4.9M |
| Acquisitions & other investing | $0 | $195,000 | $119,000 | $50,000 | $2,000 | $4,000 | $2,000 | $2,000 | $0 | $500,000 |
| Cash from investing activities | $11.7M | −$15.1M | −$119,000 | $0 | $25.0M | $3.1M | $270,000 | −$12.4M | $9.1M | −$4.4M |
| Financing activities | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | $0 | $0 |
| Share repurchases & issuance (net) | — | — | — | — | — | — | $0 | −$2.6M | −$6.3M | −$66,000 |
| Net borrowing (repayment) | — | — | −$1,000 | −$2,000 | $0 | $204,000 | $204,000 | $204,000 | $204,000 | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$1,000 | $6,000 | $0 | $0 | $0 | $0 | $0 | −$204,000 | −$204,000 | $0 |
| Cash from financing activities | −$1,000 | $6,000 | −$1,000 | −$2,000 | $0 | $204,000 | $204,000 | −$2.6M | −$6.3M | −$66,000 |
| Summary | ||||||||||
| Net change in cash | $8.0M | −$18.7M | −$5.4M | −$308,000 | $20.3M | −$1.0M | −$1.6M | −$17.2M | −$2.4M | −$2.6M |
| Cash at end of period | $9.2M | $1.2M | $19.9M | $25.3M | $25.6M | $5.2M | $6.3M | $7.9M | $25.1M | $27.5M |
| Free cash flow | −$3.7M | −$3.8M | −$5.4M | −$306,000 | −$4.7M | −$4.3M | −$1.9M | −$2.2M | −$5.2M | $1.9M |
| Free cash flow margin | −59.0% | −35.6% | −59.3% | −4.3% | −57.4% | −57.7% | −30.4% | −24.4% | −34.3% | 8.8% |
| Capex / revenue | 0.0% | 1.8% | 1.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Operating cash flow / net income | — | — | −6.86 | — | — | — | — | — | — | — |
| 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 | −$566,000 | −$1.4M | −$694,000 | −$1.0M | −$1.1M | −$2.4M | −$527,000 | −$881,000 | −$962,000 | −$883,000 | −$421,000 | $2.6M |
| Depreciation & amortization | $15,000 | $20,000 | $21,000 | $21,000 | $20,000 | $21,000 | $21,000 | $20,000 | $17,000 | $8,000 | $51,000 | $49,000 |
| Change in working capital | −$220,000 | $1.5M | $409,000 | −$1.0M | $568,000 | $816,000 | $186,000 | −$65,000 | $65,000 | −$1.3M | $1.6M | −$6.5M |
| Other non-cash items | −$83,000 | −$1.1M | $36,000 | $32,000 | $38,000 | $1.1M | $33,000 | −$1.2M | $40,000 | −$18,000 | $21,000 | $21,000 |
| Cash from operating activities | −$854,000 | −$939,999 | −$228,000 | −$2.0M | −$514,000 | −$385,000 | −$287,000 | −$2.1M | −$840,000 | −$2.2M | $1.3M | −$3.8M |
| Investing activities | ||||||||||||
| Capital expenditures | $0 | $0 | $0 | $0 | $0 | −$195,000 | −$8,000 | −$7,000 | −$180,000 | −$12,000 | −$22,000 | −$35,000 |
| Investments (net) | −$3.0M | $5.9M | $3.5M | $1.3M | $983,000 | $888,000 | $513,000 | −$249,000 | −$16.2M | $18.5M | −$18.5M | −$35,000 |
| Acquisitions & other investing | $0 | $0 | $0 | $0 | $0 | $195,000 | $8,000 | $7,000 | $180,000 | $12,000 | — | $35,000 |
| Cash from investing activities | −$3.0M | $5.9M | $3.5M | $1.3M | $983,000 | $888,000 | $513,000 | −$249,000 | −$16.2M | $18.5M | — | −$35,000 |
| Financing activities | ||||||||||||
| Net borrowing (repayment) | — | — | −$1,000 | — | — | — | $5,000 | $0 | — | — | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$1,000 | $0 | $0 | −$1,000 | $0 | −$6,000 | −$6,000 | $7,000 | $7,000 | −$1,000 | $0 | $0 |
| Cash from financing activities | −$1,000 | $0 | −$1,000 | −$1,000 | $0 | −$6,000 | −$1,000 | $7,000 | $7,000 | −$1,000 | $0 | $0 |
| Summary | ||||||||||||
| Net change in cash | −$3.9M | $5.0M | $3.2M | −$699,000 | $469,000 | $497,000 | $225,000 | −$2.4M | −$17.0M | $16.3M | −$17.2M | −$3.8M |
| Cash at end of period | $5.3M | $9.2M | $4.2M | $956,000 | $1.7M | $1.2M | $689,000 | $464,000 | $2.8M | $19.9M | $3.6M | $20.9M |
| Free cash flow | −$854,000 | −$939,999 | −$228,000 | −$2.0M | −$514,000 | −$385,000 | −$295,000 | −$2.1M | −$1.0M | −$2.3M | $1.3M | −$3.8M |
| Free cash flow margin | −141.4% | −61.5% | −12.1% | −167.7% | −30.7% | −20.9% | −7.4% | −78.0% | −46.4% | −102.3% | 48.5% | −155.9% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 10.6% | 0.2% | 0.3% | 8.2% | 0.5% | 0.8% | 1.4% |
| Operating cash flow / net income | — | — | — | — | — | — | — | — | — | — | — | −1.43 |
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.
MSN cash generation
In fiscal 2026 (ended March 31, 2026), Emerson Radio generated -$3.7 million of cash from operations and spent $0 on capital expenditures, leaving free cash flow of -$3.7 million, −59.0% of revenue. Cash and equivalents rose by $8.0 million over the year.
Related: MSN income statement, MSN balance sheet. See the MSN stock overview for the latest quote and news.
MSN cash flow FAQ
What is Emerson Radio's free cash flow?
Emerson Radio's free cash flow was -$3.7 million in fiscal 2026: -$3.7 million of operating cash flow minus $0 of capital expenditures It was -$3.8 million a year earlier..
How much cash does Emerson Radio generate from operations?
Emerson Radio generated -$3.7 million of cash from operating activities in fiscal 2026.