Wah Fu Education Group Limited (WAFU) Cash Flow Statement
Where WAFU’s cash came from and went, FY2026
March 31, 2026 · U.S. dollars- Cash from operations
- −$1.4M
- Capital expenditures
- $50,793 0.8% of revenue
- Free cash flow
- −$1.4M −22.7% margin
- Returned to shareholders
- —
- Change in cash
- −$1.1M cash at year-end $9.0M
Cash from operations
−$1.4M
Capital expenditures
−$50,793
Acquisitions & other
+$28,161
Other financing
−$124,897
Currency & other
+$432,003
Change in cash
−$1.1M
Drawn to scale: where the cash came from and how it was used. Hover for values.
WAFU operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
WAFU cash flow trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $1.3MFY2017 | −$1.4MFY2026 | — | |
| Capital expenditures | $75,676FY2017 | $50,793FY2026 | −4.3%/yr | |
| Free cash flow | $1.2MFY2017 | −$1.4MFY2026 | — | |
| Free cash flow margin | 23.5%FY2017 | −22.7%FY2026 | −46.2 pts | |
| Operating cash flow / net income | 2.09FY2017 | 0.96FY2023 | −1.13 | |
| Stock-based compensation | −$44,530FY2017 | $550,233FY2023 | — | |
| Dividends paid | $0FY2017 | $0FY2019 | — | |
| Share buybacks (net) | $0FY2017 | $0FY2020 | — | |
| Capex / revenue | 1.5%FY2017 | 0.8%FY2026 | −0.7 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
WAFU cash flow by activity
OperatingInvestingFinancingChange in cash
WAFU 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).
WAFU cash flow statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$1.1M | −$372,848 | −$55,288 | $1.7M | $902,531 | $1.0M | −$1.6M | −$1.0M | $1.2M | $617,231 |
| Depreciation & amortization | $143,443 | $324,602 | $346,789 | $410,358 | $179,207 | $195,239 | $164,942 | $131,024 | $121,934 | $118,857 |
| Stock-based compensation | — | — | — | $550,233 | — | $136,805 | $203,031 | $523,407 | $87,023 | −$44,530 |
| Change in working capital | −$807,269 | −$998,809 | −$1.2M | −$1.2M | −$458,794 | $1.1M | $2.0M | $244,390 | −$1.7M | $581,105 |
| Other non-cash items | $377,785 | $81,463 | $168,826 | $220,668 | $452,231 | −$155,186 | $223,772 | −$393,604 | −$158,256 | $20,156 |
| Cash from operating activities | −$1.4M | −$965,592 | −$767,310 | $1.6M | $1.1M | $2.3M | $937,518 | −$513,310 | −$441,647 | $1.3M |
| Investing activities | ||||||||||
| Capital expenditures | −$50,793 | −$10,876 | −$95,020 | −$37,237 | −$34,996 | −$74,236 | −$75,041 | −$350,284 | −$556,278 | −$75,676 |
| Investments (net) | — | −$10,627 | −$231,440 | $36,876 | −$1.7M | $2.4M | −$2.6M | $7,370 | −$1.3M | −$282,303 |
| Acquisitions & other investing | $28,161 | $10,876 | $95,020 | $37,237 | $34,996 | $74,236 | $75,041 | $350,284 | $556,278 | −$222,736 |
| Cash from investing activities | −$22,632 | −$10,627 | −$231,440 | $36,876 | −$1.7M | $2.4M | −$2.6M | $7,370 | −$1.3M | −$580,715 |
| Financing activities | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Share repurchases & issuance (net) | — | — | — | — | — | — | $4.8M | $0 | $0 | $0 |
| Net borrowing (repayment) | — | — | — | — | −$17,657 | $11,312 | $29,721 | −$53,444 | $310,215 | $310,215 |
| Shares issued | $0 | $14,880 | $0 | $0 | $0 | $0 | $4.8M | $0 | $0 | $0 |
| Other financing | −$124,897 | $48,144 | $0 | $0 | $0 | $0 | −$4.8M | $65,168 | $41,119 | −$243,354 |
| Cash from financing activities | −$124,897 | $63,024 | $0 | $0 | −$17,657 | $11,312 | $4.9M | $11,724 | $351,334 | $66,861 |
| Summary | ||||||||||
| Net change in cash | −$1.1M | −$914,316 | −$1.5M | $804,018 | −$290,570 | $5.2M | $2.9M | −$795,237 | −$877,813 | $429,233 |
| Cash at end of period | $9.0M | $10.1M | $11.0M | $12.6M | $11.8M | $12.1M | $6.8M | $3.9M | $4.7M | $5.6M |
| Free cash flow | −$1.4M | −$976,468 | −$862,330 | $1.6M | $1.0M | $2.3M | $862,477 | −$863,594 | −$997,925 | $1.2M |
| Free cash flow margin | −22.7% | −15.8% | −11.9% | 14.7% | 9.1% | 26.5% | 15.3% | −16.1% | −16.7% | 23.5% |
| Capex / revenue | 0.8% | 0.2% | 1.3% | 0.3% | 0.3% | 0.9% | 1.3% | 6.5% | 9.3% | 1.5% |
| Operating cash flow / net income | — | — | — | 0.96 | 1.19 | 2.28 | — | — | −0.37 | 2.09 |
| Jun '26 | Sep '25 | Jun '25 | Sep '24 | Jun '24 | Sep '23 | Jun '23 | Dec '22 | Sep '22 | Jun '22 | Mar '22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | |||||||||||
| Net income | −$935,978 | −$169,558 | $83,696 | −$548,995 | −$282,417 | $227,129 | $43,025 | $21,512 | $862,867 | $272,217 | $136,109 |
| Depreciation & amortization | $111,961 | $31,482 | $279,258 | $45,344 | $86,873 | $37,158 | $94,751 | $47,376 | $81,492 | $55,509 | $55,509 |
| Stock-based compensation | — | — | — | — | — | — | $1.2M | — | −$1.2M | — | — |
| Change in working capital | −$1.2M | $383,193 | −$81,972 | −$634,086 | −$658,366 | −$579,810 | $135,125 | $801,947 | −$1.4M | $2.7M | — |
| Other non-cash items | $528,091 | −$150,306 | −$58,512 | −$50,325 | $186,964 | $215,160 | −$116,217 | −$213,419 | $1.9M | $185,019 | $1.6M |
| Cash from operating activities | −$1.5M | $94,811 | $222,470 | −$1.2M | −$666,946 | −$100,363 | $1.3M | $657,416 | $297,667 | $3.2M | $1.7M |
| Investing activities | |||||||||||
| Capital expenditures | −$39,402 | −$11,391 | −$2,595 | −$8,281 | −$95,020 | −$3 | −$33,032 | −$16,516 | −$4,205 | −$34,927 | −$17,464 |
| Acquisitions & other investing | $764,807 | −$736,646 | $29,137 | −$28,888 | −$367,860 | — | $204,796 | — | −$130,683 | $53,197 | $26,599 |
| Cash from investing activities | $725,405 | −$748,037 | $26,542 | −$37,169 | −$462,880 | — | $171,764 | — | −$134,888 | $18,270 | $9,135 |
| Financing activities | |||||||||||
| Share repurchases & issuance (net) | — | — | — | — | — | — | — | — | — | −$4.8M | — |
| Net borrowing (repayment) | — | — | — | — | — | — | — | — | — | — | −$37,954 |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$89,234 | −$35,663 | $63,024 | — | — | — | −$21,087 | −$21,087 | $21,087 | $5.0M | $0 |
| Cash from financing activities | −$89,234 | −$35,663 | $63,024 | — | — | — | −$21,087 | −$21,087 | $21,087 | $174,340 | −$37,954 |
| Summary | |||||||||||
| Net change in cash | −$556,775 | −$550,328 | −$13,661 | −$900,655 | −$375,790 | −$1.1M | $1.7M | $869,838 | −$935,659 | $3.6M | $1.8M |
| Cash at end of period | $9.0M | $9.6M | $10.1M | $10.1M | $11.0M | $11.4M | $12.6M | $869,838 | $10.8M | $11.8M | $6.8M |
| Free cash flow | −$1.5M | $83,420 | $219,875 | −$1.2M | −$761,966 | −$100,363 | $1.3M | $640,900 | $293,462 | $3.3M | $1.7M |
| Free cash flow margin | −46.3% | 2.7% | 6.5% | −42.7% | −21.3% | −2.8% | 24.5% | 24.5% | 5.4% | 57.9% | — |
| Capex / revenue | 1.2% | 0.4% | 0.1% | 0.3% | 2.7% | 0.0% | 0.6% | 0.6% | 0.1% | 0.6% | — |
| Operating cash flow / net income | — | — | 2.66 | — | — | −0.44 | 30.56 | 30.56 | 0.34 | 11.93 | 12.85 |
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.
WAFU cash generation
In fiscal 2026 (ended March 31, 2026), Wah Fu Education generated -$1.4 million of cash from operations and spent $0.1 million on capital expenditures, leaving free cash flow of -$1.4 million, −22.7% of revenue. Cash and equivalents fell by $1.1 million over the year.
Related: WAFU income statement, WAFU balance sheet. See the WAFU stock overview for the latest quote and news.
WAFU cash flow FAQ
What is Wah Fu Education's free cash flow?
Wah Fu Education's free cash flow was -$1.4 million in fiscal 2026: -$1.4 million of operating cash flow minus $0.1 million of capital expenditures It was -$1.0 million a year earlier..
How much cash does Wah Fu Education generate from operations?
Wah Fu Education generated -$1.4 million of cash from operating activities in fiscal 2026.
How much does Wah Fu Education spend on capital expenditures?
Wah Fu Education spent $0.1 million on capital expenditures in fiscal 2026, 0.8% of revenue, compared with $0.0 million the year before.