Phoenix Asia Holdings Limited (PHOE) Cash Flow Statement

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

Where PHOE’s cash came from and went, FY2026

March 31, 2026 · U.S. dollars
Cash from operations
−$733,944
−162.2% vs FY2025
Capital expenditures
$4
0.0% of revenue
Free cash flow
−$733,940
−79.5% margin
Returned to shareholders
—
Change in cash
−$191,594
cash at year-end $113,839
Shares issued: $4.2MShares issued$4.2MDrawn from cash: $191,594Drawn from cash$191,594Other financing: $3.7MOther financing$3.7M · 83%Cash used in operations: $733,944Cash used in operations$733,944 · 17%Debt repayment, Capital expenditures: $5,338Other uses$5,338 · 0%$4.4M
Cash from operations
−$733,944
Net borrowing (repayment)
−$5,334
Shares issued
+$4.2M
Other financing
−$3.7M
Change in cash
−$191,594

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

PHOE operating cash flow, capex and free cash flow

Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)

PHOE cash flow trends, FY2023–FY2026

MetricTrendThenLatestChange
Operating cash flow−$57,112FY2023−$733,944FY2026—
Capital expenditures$22,607FY2023$4FY2026−94.4%/yr
Free cash flow−$79,719FY2023−$733,940FY2026—
Free cash flow margin−3.6%FY2023−79.5%FY2026−75.9 pts
Operating cash flow / net income−0.16FY20231.15FY2025+1.31
Capex / revenue1.0%FY20230.0%FY2026−1.0 pts

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

PHOE cash flow by activity

OperatingInvestingFinancingChange in cash

PHOE 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).

PHOE cash flow statement

FY2026FY2025FY2024FY2023
Operating activities
Net income−$153,888$1.0M$1.1M$351,065
Depreciation & amortization$6,472$53,806$40,717$43,862
Change in working capital−$585,902$62,546−$505,516−$429,012
Other non-cash items−$626$37,774−$51,452−$23,027
Cash from operating activities−$733,944$1.2M$540,332−$57,112
Investing activities
Capital expenditures−$4−$41,086$0−$22,607
Investments (net)—−$41,086$6,410−$22,607
Acquisitions & other investing—$41,086$0$22,607
Cash from investing activities—−$41,086$6,410−$22,607
Financing activities
Net borrowing (repayment)−$5,334−$28,735−$33,910−$8,645
Shares issued$4.2M$375,161$0$0
Other financing−$3.7M$0$0$0
Cash from financing activities$543,809$346,426−$33,910−$8,645
Summary
Net change in cash−$191,594$1.5M$512,832−$88,364
Cash at end of period$113,839$2.4M$890,578$377,746
Free cash flow−$733,940$1.1M$540,332−$79,719
Free cash flow margin−79.5%15.5%9.4%−3.6%
Capex / revenue0.0%0.6%0.0%1.0%
Operating cash flow / net income—1.150.51−0.16

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.

PHOE cash generation

In fiscal 2026 (ended March 31, 2026), Phoenix Asia generated -$0.7 million of cash from operations (down 162.2%) and spent $0.0 million on capital expenditures, leaving free cash flow of -$0.7 million, −79.5% of revenue. Cash and equivalents fell by $0.2 million over the year.

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

PHOE cash flow FAQ

What is Phoenix Asia's free cash flow?

Phoenix Asia's free cash flow was -$0.7 million in fiscal 2026: -$0.7 million of operating cash flow minus $0.0 million of capital expenditures It was $1.1 million a year earlier..

How much cash does Phoenix Asia generate from operations?

Phoenix Asia generated -$0.7 million of cash from operating activities in fiscal 2026.

How much does Phoenix Asia spend on capital expenditures?

Phoenix Asia spent $0.0 million on capital expenditures in fiscal 2026, 0.0% of revenue, compared with $0.0 million the year before.

Engineering & Construction: cash flow