Universe Pharmaceuticals INC (UPC) Cash Flow Statement
Where UPC’s cash came from and went, FY2025
September 30, 2025 · U.S. dollars- Cash from operations
- −$5.1M
- Capital expenditures
- $347,187 1.9% of revenue
- Free cash flow
- −$5.4M −30.2% margin
- Returned to shareholders
- —
- Change in cash
- $4.1M cash at year-end $33.6M
Drawn to scale: where the cash came from and how it was used. Hover for values.
UPC operating cash flow, capex and free cash flow
UPC cash flow trends, FY2018–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $4.5MFY2018 | −$5.1MFY2025 | — | |
| Capital expenditures | $145,095FY2018 | $347,187FY2025 | +13.3%/yr | |
| Free cash flow | $4.3MFY2018 | −$5.4MFY2025 | — | |
| Free cash flow margin | 15.1%FY2018 | −30.2%FY2025 | −45.4 pts | |
| Operating cash flow / net income | 0.59FY2018 | −0.18FY2021 | −0.77 | |
| Dividends paid | $3.1MFY2018 | $0FY2022 | −100.0% | |
| Capex / revenue | 0.5%FY2018 | 1.9%FY2025 | +1.4 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
UPC cash flow by activity
UPC 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).
UPC cash flow statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||
| Net income | −$3.7M | −$8.7M | −$6.6M | −$7.9M | $11.3M | $7.6M | $7.6M | $7.6M |
| Depreciation & amortization | $517,431 | $485,734 | $508,785 | $533,949 | $446,878 | $410,079 | $418,431 | $452,733 |
| Change in working capital | −$2.3M | −$2.1M | $5.7M | $6.6M | −$12.7M | −$1.9M | $5.2M | −$3.5M |
| Other non-cash items | $370,603 | $792,894 | $1.5M | −$536,409 | −$1.1M | $12,825 | $73,161 | −$67,657 |
| Cash from operating activities | −$5.1M | −$9.5M | $1.1M | −$1.3M | −$2.1M | $6.1M | $13.2M | $4.5M |
| Investing activities | ||||||||
| Capital expenditures | −$347,187 | −$363,089 | −$44,172 | −$93,703 | −$13.5M | −$51,798 | −$86,324 | −$145,095 |
| Investments (net) | — | −$361,285 | −$44,169 | −$3.9M | −$13.5M | −$51,798 | −$86,033 | −$145,095 |
| Acquisitions & other investing | $5,380 | — | $44,172 | $93,703 | $0 | $51,798 | $86,324 | $145,095 |
| Cash from investing activities | −$341,807 | — | −$44,169 | −$3.9M | −$27.1M | −$51,798 | −$86,033 | −$145,095 |
| Financing activities | ||||||||
| Dividends paid | — | — | — | $0 | $0 | $0 | −$16.0M | −$3.1M |
| Net borrowing (repayment) | −$5.3M | $9.0M | −$1.4M | $3.3M | $624,352 | $911,200 | $1,143 | −$1.9M |
| Shares issued | $15.0M | $25.0M | $0 | $0 | $28.8M | $0 | $0 | $0 |
| Other financing | $0 | $0 | $0 | $0 | −$2.8M | −$441,064 | $0 | $0 |
| Cash from financing activities | $9.7M | $34.0M | −$1.4M | $3.3M | $26.6M | $470,136 | −$16.0M | −$4.9M |
| Summary | ||||||||
| Net change in cash | $4.1M | $24.2M | −$426,211 | −$2.4M | −$2.0M | $6.9M | −$3.0M | −$793,238 |
| Cash at end of period | $33.6M | $29.5M | $5.3M | $5.7M | $8.1M | $10.1M | $3.2M | $6.2M |
| Free cash flow | −$5.4M | −$9.9M | $1.1M | −$1.4M | −$15.6M | $6.1M | $13.1M | $4.3M |
| Free cash flow margin | −30.2% | −42.9% | 3.3% | −3.5% | −32.5% | 19.7% | 39.5% | 15.1% |
| Capex / revenue | 1.9% | 1.6% | 0.1% | 0.2% | 28.2% | 0.2% | 0.3% | 0.5% |
| Operating cash flow / net income | — | — | — | — | −0.18 | 0.81 | 1.75 | 0.59 |
| Jun '26 | Dec '25 | Mar '25 | Jun '24 | Dec '23 | Jun '23 | Mar '23 | Dec '22 | Sep '22 | Jun '22 | Mar '22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | |||||||||||
| Net income | −$1.6M | −$387,300 | −$3.3M | −$13.1M | −$5.4M | −$715,427 | −$357,714 | −$8.7M | −$5.2M | $1.7M | $1.7M |
| Depreciation & amortization | $231,217 | $247,792 | $269,639 | $248,860 | $251,005 | $257,780 | $128,891 | $241,838 | $120,919 | $292,111 | $292,111 |
| Stock-based compensation | — | — | — | — | −$984,504 | $5.0M | — | $4.4M | — | −$6.3M | −$6.3M |
| Change in working capital | −$3.0M | −$7.8M | $5.6M | −$653,925 | $1.7M | $5.0M | — | $1.4M | — | $4.8M | $4.8M |
| Other non-cash items | $0 | $370,603 | $0 | $11.1M | $870,845 | −$4.7M | $2.6M | −$5.2M | $1.4M | $5.5M | $5.5M |
| Cash from operating activities | −$4.3M | −$7.6M | $2.6M | −$2.4M | −$3.6M | $4.8M | $2.4M | −$7.9M | −$3.7M | $6.1M | $6.1M |
| Investing activities | |||||||||||
| Capital expenditures | −$311,032 | −$169,986 | −$96,784 | −$67,658 | −$43,523 | −$646 | −$323 | −$38,073 | −$19,037 | −$55,629 | −$55,629 |
| Acquisitions & other investing | −$1.5M | −$39,083 | −$35,953 | $2 | $0 | $0 | $0 | −$3.8M | −$1.9M | $538 | $28,083 |
| Cash from investing activities | −$1.8M | −$209,069 | −$132,737 | −$67,656 | −$43,523 | −$646 | −$323 | −$3.9M | −$1.9M | −$55,091 | −$27,546 |
| Financing activities | |||||||||||
| Net borrowing (repayment) | — | — | — | — | — | — | $1.0M | $1.0M | $1.7M | $1.7M | −$9,996 |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$149,072 | −$6.7M | $16.4M | $6.1M | −$3.5M | $2.1M | $0 | $2.3M | $0 | −$1.7M | −$9,995 |
| Cash from financing activities | −$149,072 | −$6.7M | $16.4M | $6.1M | −$3.5M | $2.1M | $1.0M | $3.3M | $1.7M | −$19,991 | −$19,991 |
| Summary | |||||||||||
| Net change in cash | −$6.0M | −$13.7M | $17.8M | $3.6M | −$7.7M | $7.2M | $3.6M | −$8.5M | −$4.3M | $6.2M | $6.2M |
| Cash at end of period | $27.6M | $33.6M | $47.3M | $8.9M | $5.3M | $13.0M | $5.7M | $5.7M | $2.5M | $14.2M | $14.2M |
| Free cash flow | −$4.6M | −$7.8M | $2.5M | −$2.5M | −$3.7M | $4.8M | $2.4M | −$7.9M | −$3.7M | $6.1M | $6.1M |
| Free cash flow margin | −51.0% | −89.4% | 26.9% | −19.4% | −26.6% | 26.0% | — | −49.8% | — | 25.0% | 25.0% |
| Capex / revenue | 3.4% | 2.0% | 1.1% | 0.5% | 0.3% | 0.0% | — | 0.2% | — | 0.2% | 0.2% |
| Operating cash flow / net income | — | — | — | — | — | — | — | — | — | 3.53 | 3.53 |
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.
UPC cash generation
In fiscal 2025 (ended September 30, 2025), Universe Pharmaceuticals INC generated -$5.1 million of cash from operations and spent $0.3 million on capital expenditures, leaving free cash flow of -$5.4 million, −30.2% of revenue. Cash and equivalents rose by $4.1 million over the year.
Related: UPC income statement, UPC balance sheet. See the UPC stock overview for the latest quote and news.
UPC cash flow FAQ
What is Universe Pharmaceuticals INC's free cash flow?
Universe Pharmaceuticals INC's free cash flow was -$5.4 million in fiscal 2025: -$5.1 million of operating cash flow minus $0.3 million of capital expenditures It was -$9.9 million a year earlier..
How much cash does Universe Pharmaceuticals INC generate from operations?
Universe Pharmaceuticals INC generated -$5.1 million of cash from operating activities in fiscal 2025.
How much does Universe Pharmaceuticals INC spend on capital expenditures?
Universe Pharmaceuticals INC spent $0.3 million on capital expenditures in fiscal 2025, 1.9% of revenue, compared with $0.4 million the year before.