Planet Green Holdings Corp. (PLAG) Cash Flow Statement
Where PLAG’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- −$1.79B −192,455.4% vs 2024
- Capital expenditures
- $4,824 0.2% of revenue
- Free cash flow
- −$1.79B −58,747.9% margin
- Returned to shareholders
- —
- Change in cash
- −$61.4M cash at year-end $119.0M
Cash from operations
−$1.79B
Other financing
+$1.74B
Currency & other
−$10.8M
Change in cash
−$61.4M
Drawn to scale: where the cash came from and how it was used. Hover for values.
PLAG operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
PLAG cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$29.8M2016 | −$1.79B2025 | — | |
| Capital expenditures | $142,1262016 | $4,8242025 | −31.3%/yr | |
| Free cash flow | −$29.9M2016 | −$1.79B2025 | — | |
| Free cash flow margin | −37.6%2016 | −58,747.9%2025 | −58,710.3 pts | |
| Operating cash flow / net income | −0.842018 | −0.632019 | +0.21 | |
| Stock-based compensation | $10,2002017 | $14.43B2025 | +487.3%/yr | |
| Dividends paid | $02016 | $02017 | — | |
| Share buybacks (net) | $02016 | $02020 | — | |
| Capex / revenue | 0.2%2016 | 0.2%2025 | 0.0 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
PLAG cash flow by activity
OperatingInvestingFinancingChange in cash
PLAG 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).
PLAG cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$26.98B | −$7.5M | −$20.8M | −$25.8M | −$10.0M | −$11.1M | $8.5M | $16.8M | −$47.4M | −$136.0M |
| Depreciation & amortization | $924,264 | $1.0M | $2.2M | $1.5M | $2.5M | $449,053 | $214,046 | $793,191 | $2.1M | $2.2M |
| Stock-based compensation | $14.43B | $0 | — | $1.2M | $1.2M | $1.8M | $0 | — | $10,200 | — |
| Change in working capital | $231,833 | $3.4M | −$127,208 | −$5.0M | $2.6M | −$4.9M | −$5.4M | −$14.3M | $28.3M | −$109.4M |
| Other non-cash items | $10.76B | $4.0M | $13.5M | $19.2M | $3.2M | $10.3M | −$8.8M | −$17.5M | $16.6M | $213.3M |
| Cash from operating activities | −$1.79B | $928,644 | −$5.3M | −$9.0M | −$519,396 | −$3.5M | −$5.4M | −$14.2M | −$360,141 | −$29.8M |
| Investing activities | ||||||||||
| Capital expenditures | −$4,824 | −$7,506 | −$97,576 | −$3 | −$1.5M | −$852,837 | −$578,595 | −$490,694 | −$314,187 | −$142,126 |
| Investments (net) | — | −$5,421 | $2.1M | −$3.9M | −$11.8M | −$852,837 | −$520,029 | −$1,534 | $750,772 | $1.9M |
| Acquisitions & other investing | −$4.3M | $7,506 | — | $3 | $1.5M | $852,837 | $582,303 | $0 | $314,187 | $7.1M |
| Cash from investing activities | −$4.3M | −$5,421 | — | −$3.9M | −$11.8M | −$852,837 | −$516,321 | −$492,228 | $750,772 | $8.9M |
| Financing activities | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | $0 | $0 |
| Share repurchases & issuance (net) | — | — | — | — | — | $3.0M | $9.7M | $15.5M | $0 | $0 |
| Net borrowing (repayment) | $3.5M | $2.1M | $0 | −$259,205 | −$953,355 | −$2.8M | $1.0M | $32,977 | −$753,851 | $3.0M |
| Shares issued | $0 | $0 | $0 | $11.1M | $10.9M | $3.0M | $9.7M | $15.5M | $0 | $0 |
| Other financing | $1.74B | −$3.1M | $2.9M | $0 | −$1.0M | −$3.0M | −$7.3M | −$15.5M | $0 | $0 |
| Cash from financing activities | $1.74B | −$972,105 | $2.9M | $10.8M | $8.9M | $238,396 | $13.2M | $15.5M | −$753,851 | $3.0M |
| Summary | ||||||||||
| Net change in cash | −$61.4M | −$42,061 | $342,896 | −$1.0M | −$2.3M | −$3.9M | $7.3M | $973,431 | −$340,561 | −$16.7M |
| Cash at end of period | $119.0M | $195,153 | $436,383 | $93,487 | $1.1M | $3.4M | $7.3M | $1.1M | $85,493 | $426,054 |
| Free cash flow | −$1.79B | $921,138 | −$5.4M | −$9.0M | −$2.0M | −$4.4M | −$6.0M | −$14.6M | −$674,328 | −$29.9M |
| Free cash flow margin | −58,747.9% | 13.7% | −19.8% | −20.1% | −5.4% | −119.6% | −542.1% | −214.4% | −13.2% | −37.6% |
| Capex / revenue | 0.2% | 0.1% | 0.4% | 0.0% | 4.0% | 23.4% | 52.3% | 7.2% | 6.1% | 0.2% |
| Operating cash flow / net income | — | — | — | — | — | — | −0.63 | −0.84 | — | — |
| 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 | −$1.15B | $502.9M | −$12.48B | −$3.4M | −$727,225 | −$796.9M | −$3.3M | −$8.9M | $5.7M | −$593,123 | −$6.1M | −$1.4M |
| Depreciation & amortization | $87,017 | $201,389 | $367,976 | $56,058 | $250,016 | $185,496 | −$514,177 | $493,475 | $532,641 | $262,092 | $543,277 | $573,651 |
| Stock-based compensation | — | — | $11.63B | $2.80B | — | — | — | — | — | — | — | — |
| Change in working capital | −$3.8M | $3.8M | $249,847 | $1.1M | −$1.2M | $130,981 | $778,821 | $1.3M | $400,395 | $761,758 | $2.1M | −$1.2M |
| Other non-cash items | $1.15B | $4.07B | $852.0M | −$2.80B | $19,894 | $449.9M | $4.0M | $7.8M | −$7.5M | −$253 | $2.4M | $103,031 |
| Cash from operating activities | −$4.6M | $4.58B | −$457,121 | $697,489 | −$1.7M | −$346.7M | $880,183 | $709,328 | −$844,481 | $430,474 | −$1.0M | −$2.0M |
| Investing activities | ||||||||||||
| Capital expenditures | −$1,443 | −$14,123 | −$2,350 | −$9 | −$7 | −$18,507 | $0 | −$709,328 | −$844,481 | −$6,148 | −$26,645 | −$50,074 |
| Investments (net) | — | — | — | −$11 | −$7 | −$2,456 | $14,896 | $140,066 | −$171,832 | $11,449 | −$28,785 | −$50,074 |
| Acquisitions & other investing | $3,318 | −$14.1M | $490 | $9 | $7 | −$2.4M | — | $709,328 | $844,481 | −$10,059 | — | $50,074 |
| Cash from investing activities | $1,875 | −$14.1M | −$1,860 | −$11 | −$7 | −$2.5M | — | $140,066 | −$171,832 | −$4,758 | — | −$50,074 |
| Financing activities | ||||||||||||
| Net borrowing (repayment) | $31,045 | −$170,379 | $627,425 | $12,388 | $1.8M | $1.1M | −$273 | $277,505 | — | — | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$492,549 | $771.5M | −$90,002 | −$1.3M | −$569,046 | $1.30B | −$867,204 | −$1.3M | $1.2M | −$317,740 | $1.4M | $1.5M |
| Cash from financing activities | −$461,504 | $771.3M | $537,423 | −$1.3M | $1.2M | $1.30B | −$867,477 | −$1.0M | $1.2M | −$317,740 | $1.4M | $1.5M |
| Summary | ||||||||||||
| Net change in cash | −$5.1M | $5.35B | $55,202 | −$392,346 | −$690,702 | $951.7M | $27,602 | −$331,441 | $155,851 | $111,822 | $290,037 | −$399,696 |
| Cash at end of period | $333,799 | $5.47B | $118,956 | $63,754 | $456,100 | $1.15B | $195,153 | $227,492 | $558,933 | $349,015 | $313,500 | $313,500 |
| Free cash flow | −$4.6M | $4.58B | −$459,471 | $697,480 | −$1.7M | −$346.7M | $898,690 | $709,328 | −$844,481 | $424,326 | −$1.1M | −$2.1M |
| Free cash flow margin | −576.4% | 72,046.7% | −88.1% | 90.4% | −185.2% | −41,257.2% | 62.4% | 39.1% | −43.4% | 28.2% | — | −58.2% |
| Capex / revenue | 0.2% | 0.2% | 0.5% | 0.0% | 0.0% | 2.2% | 0.0% | 39.1% | 43.4% | 0.4% | — | 1.4% |
| Operating cash flow / net income | — | 9.11 | — | — | — | — | — | — | −0.15 | — | — | — |
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.
PLAG cash generation
In fiscal 2025 (ended December 31, 2025), Planet Green generated -$1.8 billion of cash from operations (down 192,455.4%) and spent $0.0 million on capital expenditures, leaving free cash flow of -$1.8 billion, −58,747.9% of revenue. Cash and equivalents fell by $61.4 million over the year.
Related: PLAG income statement, PLAG balance sheet. See the PLAG stock overview for the latest quote and news.
PLAG cash flow FAQ
What is Planet Green's free cash flow?
Planet Green's free cash flow was -$1.8 billion in fiscal 2025: -$1.8 billion of operating cash flow minus $0.0 million of capital expenditures It was $0.9 million a year earlier..
How much cash does Planet Green generate from operations?
Planet Green generated -$1.8 billion of cash from operating activities in fiscal 2025.
How much does Planet Green spend on capital expenditures?
Planet Green spent $0.0 million on capital expenditures in fiscal 2025, 0.2% of revenue, compared with $0.0 million the year before.