Top Wealth Group Holding Limited (TWG) Cash Flow Statement
Where TWG’s cash came from and went, FY2026
June 30, 2026 · U.S. dollars- Cash from operations
- −$794,559 −798.5% vs FY2025
- Capital expenditures
- $0 0.0% of revenue
- Free cash flow
- −$794,560 −8.7% margin
- Returned to shareholders
- —
- Change in cash
- $301,238 cash at year-end $306,694
Drawn to scale: where the cash came from and how it was used. Hover for values.
TWG operating cash flow, capex and free cash flow
TWG cash flow trends, FY2022–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $63,515FY2022 | −$794,559FY2026 | — | |
| Capital expenditures | $62,723FY2022 | $0FY2026 | −100.0% | |
| Free cash flow | $792FY2022 | −$794,560FY2026 | — | |
| Free cash flow margin | 4.0%FY2022 | −8.7%FY2026 | −12.7 pts | |
| Operating cash flow / net income | 0.06FY2023 | −1.94FY2026 | −2.00 | |
| Stock-based compensation | $0FY2025 | $1.7MFY2026 | — | |
| Capex / revenue | 319.8%FY2022 | 0.0%FY2026 | −319.8 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
TWG cash flow by activity
TWG 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).
TWG cash flow statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Operating activities | |||||
| Net income | $409,175 | −$258,813 | $311,420 | $244,910 | −$10,995 |
| Depreciation & amortization | $61,880 | $61,880 | $233,659 | $173,215 | $2,484 |
| Stock-based compensation | $1.7M | $0 | — | — | — |
| Change in working capital | −$1.4M | $171,831 | −$447,678 | −$250,673 | $77,919 |
| Other non-cash items | −$1.5M | $138,847 | −$207,711 | −$152,095 | −$5,893 |
| Cash from operating activities | −$794,559 | $113,745 | −$110,310 | $15,357 | $63,515 |
| Investing activities | |||||
| Capital expenditures | $0 | −$4 | −$1 | −$61,447 | −$62,723 |
| Investments (net) | — | −$15.9M | $0 | −$481,173 | −$62,723 |
| Acquisitions & other investing | $525,888 | $13.9M | — | $481,172 | $62,723 |
| Cash from investing activities | $525,888 | −$2.0M | — | −$61,448 | −$62,723 |
| Financing activities | |||||
| Share repurchases & issuance (net) | — | — | −$10 | — | — |
| Net borrowing (repayment) | $147,179 | −$777,893 | $777,893 | $0 | $0 |
| Shares issued | $4.3M | $15.7M | $2,699 | $576,912 | $12 |
| Other financing | −$3.9M | −$13.0M | −$680,878 | −$503,237 | $0 |
| Cash from financing activities | $569,436 | $1.9M | $99,704 | $73,675 | $12 |
| Summary | |||||
| Net change in cash | $301,238 | −$11,749 | −$10,647 | $27,674 | $804 |
| Cash at end of period | $306,694 | $5,455 | $17,205 | $27,852 | $1,385 |
| Free cash flow | −$794,560 | $113,750 | −$110,310 | −$46,090 | $792 |
| Free cash flow margin | −8.7% | 2.4% | −0.7% | −0.5% | 4.0% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.7% | 319.8% |
| Operating cash flow / net income | −1.94 | — | −0.35 | 0.06 | — |
| Jun '26 | Mar '26 | Jun '25 | Mar '25 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | $358,724 | $101,194 | $2.4M | −$199,180 | −$775,526 | −$59,912 | $978,798 | $489,399 | $489,399 | $1.5M | $729,649 | $966,824 |
| Depreciation & amortization | $4,029 | — | $30,940 | — | — | $7,913 | $116,830 | $58,415 | $58,415 | $116,830 | $58,415 | $129,616 |
| Change in working capital | −$678,126 | −$1.1M | −$2.4M | $991,824 | $4.0M | −$819,645 | −$1.4M | −$681,222 | −$681,222 | −$2.6M | −$1.3M | −$1.6M |
| Other non-cash items | $1 | $212,430 | −$82,222 | $204,815 | $708,027 | −$11,839 | $34,684 | $17,342 | $17,342 | $356,032 | $178,016 | $389,360 |
| Cash from operating activities | −$315,372 | −$790,536 | −$28,759 | $997,459 | $3.9M | −$883,483 | −$232,132 | −$116,066 | −$116,066 | −$631,484 | −$315,742 | −$97,832 |
| Investing activities | ||||||||||||
| Capital expenditures | $0 | −$4 | $0 | −$7.9M | −$7.9M | −$3 | $0 | $0 | $0 | $0 | $0 | −$29,732 |
| Acquisitions & other investing | — | $525,672 | — | $5.9M | $0 | — | — | — | — | — | — | $0 |
| Cash from investing activities | — | $525,668 | — | −$2.0M | −$7.9M | — | — | — | — | — | — | −$29,732 |
| Financing activities | ||||||||||||
| Share repurchases & issuance (net) | — | — | — | — | — | — | — | — | — | −$10 | −$5 | −$64,102 |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $48,013 | $569,197 | — | $1.0M | $4.1M | $866,938 | $185,908 | $92,954 | $92,954 | $594,684 | $297,342 | $0 |
| Cash from financing activities | $48,013 | $569,197 | — | $1.0M | $4.1M | $866,938 | $185,908 | $92,954 | $92,954 | $594,674 | $297,337 | −$64,102 |
| Summary | ||||||||||||
| Net change in cash | −$269,044 | $304,958 | $13,621 | $4,817 | — | $638 | −$23,112 | −$23,112 | −$23,112 | −$18,405 | −$18,405 | −$95,833 |
| Cash at end of period | $37,650 | $306,694 | $13,621 | $5,455 | $638 | $638 | −$23,112 | −$23,112 | −$23,112 | −$18,405 | −$18,405 | −$95,833 |
| Free cash flow | −$315,370 | −$790,540 | −$28,759 | $997,460 | −$4.0M | −$883,480 | −$232,132 | −$116,066 | −$116,066 | −$631,484 | −$315,742 | −$127,564 |
| Free cash flow margin | −40.1% | −123.9% | −5.4% | 285.9% | −2,319.7% | −20.1% | −2.3% | −2.3% | −2.3% | −9.1% | −9.1% | −2.6% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 2,277.1% | 4,554.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.6% |
| Operating cash flow / net income | −0.88 | −7.81 | −0.01 | — | — | — | −0.24 | −0.24 | −0.24 | −0.43 | −0.43 | −0.10 |
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.
TWG cash generation
In fiscal 2026 (ended June 30, 2026), Top Wealth generated -$0.8 million of cash from operations (down 798.5%) and spent $0 on capital expenditures, leaving free cash flow of -$0.8 million, −8.7% of revenue. Cash and equivalents rose by $0.3 million over the year.
Related: TWG income statement, TWG balance sheet. See the TWG stock overview for the latest quote and news.
TWG cash flow FAQ
What is Top Wealth's free cash flow?
Top Wealth's free cash flow was -$0.8 million in fiscal 2026: -$0.8 million of operating cash flow minus $0 of capital expenditures It was $0.1 million a year earlier..
How much cash does Top Wealth generate from operations?
Top Wealth generated -$0.8 million of cash from operating activities in fiscal 2026, −1.94 times its net income of $0.4 million.