Wise Group plc Class A (WSE) Cash Flow Statement
Where WSE’s cash came from and went, FY2026
March 31, 2026 · U.S. dollars- Cash from operations
- $5.71B +27.1% vs FY2025
- Capital expenditures
- $14.8M 0.7% of revenue
- Free cash flow
- $5.70B 278.3% margin
- Returned to shareholders
- $358.1M 6% of free cash flow
- Change in cash
- $7.04B cash at year-end $21.03B
Drawn to scale: where the cash came from and how it was used. Hover for values.
WSE operating cash flow, capex and free cash flow
WSE cash flow trends, FY2016–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$9.4MFY2016 | $5.71BFY2026 | — | |
| Capital expenditures | $1.4MFY2016 | $14.8MFY2026 | +29.6%/yr | |
| Free cash flow | −$10.9MFY2016 | $5.70BFY2026 | — | |
| Free cash flow margin | −39.1%FY2016 | 278.3%FY2026 | +317.4 pts | |
| Operating cash flow / net income | 2.63FY2017 | 15.15FY2026 | +12.51 | |
| Stock-based compensation | $2.1MFY2017 | $95.5MFY2026 | +61.2%/yr | |
| Dividends paid | $0FY2023 | $0FY2025 | — | |
| Share buybacks (net) | $10.1MFY2023 | $358.1MFY2026 | +228.5%/yr | |
| Capex / revenue | 5.2%FY2016 | 0.7%FY2026 | −4.4 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
WSE cash flow by activity
WSE 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).
WSE cash flow statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $377.2M | $416.7M | $354.6M | $114.0M | $30.9M | $15.0M | $10.3M | $6.2M | $6.2M | −$17.6M |
| Depreciation & amortization | $10.9M | $18.1M | $18.3M | $23.2M | $21.7M | $20.6M | $6.3M | $3.9M | $2.1M | $651,000 |
| Stock-based compensation | $95.5M | $58.4M | $72.5M | $58.2M | $38.5M | $24.2M | $7.0M | $3.1M | $2.1M | — |
| Change in working capital | $5.16B | $4.10B | $2.88B | $3.81B | $1.95B | $1.13B | $664.8M | $165.6M | $8.7M | −$6.0M |
| Other non-cash items | $66.1M | −$95.2M | −$79.9M | −$83.9M | $30.6M | $1.5M | −$4.6M | $11.9M | −$2.8M | $13.4M |
| Cash from operating activities | $5.71B | $4.49B | $3.25B | $3.92B | $2.07B | $1.19B | $683.8M | $190.7M | $16.3M | −$9.4M |
| Investing activities | ||||||||||
| Capital expenditures | −$14.8M | −$35.4M | −$13.0M | −$8.8M | −$23.2M | −$18.1M | −$13.6M | −$2.3M | −$1.9M | −$1.4M |
| Investments (net) | $1.76B | −$728.4M | −$129.7M | −$2.58B | — | — | — | — | — | — |
| Acquisitions & other investing | −$430.0M | $165.4M | $100,000 | $200,000 | −$648.6M | −$2.8M | −$109.4M | −$8.7M | −$5.6M | −$3.0M |
| Cash from investing activities | $1.32B | −$598.4M | −$142.6M | −$2.59B | −$671.8M | −$20.9M | −$123.0M | −$11.0M | −$7.5M | −$4.5M |
| Financing activities | ||||||||||
| Dividends paid | — | $0 | $0 | $0 | — | — | — | — | — | — |
| Share repurchases & issuance (net) | −$358.1M | −$72.6M | −$68.4M | −$10.1M | — | — | — | — | — | — |
| Net borrowing (repayment) | $198.0M | −$129.4M | −$50.0M | $170.0M | — | — | — | — | — | — |
| Shares issued | $500,000 | $1.3M | $1.0M | $600,000 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$48.3M | $19.4M | −$8.2M | −$6.6M | $24.8M | $31.2M | −$6.6M | $59.0M | $10.9M | $14.7M |
| Cash from financing activities | −$207.9M | −$181.3M | −$125.6M | $153.9M | $24.8M | $31.2M | −$6.6M | $59.0M | $10.9M | $14.7M |
| Summary | ||||||||||
| Net change in cash | $7.04B | $3.50B | $2.80B | $1.62B | $1.28B | $1.22B | $554.9M | $229.8M | $23.6M | $1.3M |
| Cash at end of period | $21.03B | $13.98B | $10.48B | $7.68B | $3.36B | $2.08B | $856.1M | $301.2M | $71.4M | $47.8M |
| Free cash flow | $5.70B | $4.46B | $3.24B | $3.91B | $2.05B | $1.17B | $670.2M | $188.4M | $14.5M | −$10.9M |
| Free cash flow margin | 278.3% | 246.9% | 229.1% | 396.5% | 487.1% | 386.7% | 376.7% | 160.6% | 21.8% | −39.1% |
| Capex / revenue | 0.7% | 2.0% | 0.9% | 0.9% | 5.5% | 6.0% | 7.6% | 2.0% | 2.8% | 5.2% |
| Operating cash flow / net income | 15.15 | 10.79 | 9.16 | 34.39 | 67.12 | 79.23 | 66.39 | 30.76 | 2.63 | — |
| Mar '26 | Sep '25 | Mar '25 | Sep '24 | Mar '24 | Jun '23 | Mar '23 | Jun '22 | Mar '22 | Jun '21 | Mar '21 | Jun '20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | $190.0M | $187.2M | $199.4M | $217.3M | $214.0M | $140.6M | $76.7M | $37.3M | $20.2M | $12.7M | $16.3M | $14.6M |
| Depreciation & amortization | $292,586 | $10.6M | $21.2M | $8.7M | $8.6M | $9.7M | $12.4M | $10.8M | $11.3M | $11.6M | $11.2M | $10.5M |
| Stock-based compensation | — | — | $27.4M | $31.0M | −$35.1M | $35.1M | $32.1M | $26.1M | $20.5M | $21.7M | $20.0M | $18.1M |
| Change in working capital | $5.07B | $96.0M | $67.1M | $1.76B | $1.25B | $1.57B | $1.81B | $1.98B | $1.82B | $1.16B | $962.5M | $959.7M |
| Other non-cash items | $60.7M | $100.9M | −$76.9M | −$14.2M | $65.2M | −$14.6M | −$11.3M | −$48.8M | $7.7M | $52.9M | $52.7M | $8.3M |
| Cash from operating activities | $5.32B | $394.7M | $238.2M | $2.01B | $1.50B | $1.74B | $1.92B | $2.00B | $1.88B | $1.25B | $1.06B | $1.01B |
| Investing activities | ||||||||||||
| Capital expenditures | −$3.1M | −$11.7M | −$22.8M | −$11.7M | −$7.6M | −$3.0M | −$2.0M | −$1.6M | −$1.4M | −$3.2M | −$1.2M | −$1.1M |
| Acquisitions & other investing | $1.47B | −$137.4M | −$542.3M | −$21.6M | $290.9M | −$422.9M | −$1.76B | −$820.8M | −$36.8M | −$449.0M | −$477.8M | −$191.7M |
| Cash from investing activities | $1.46B | −$149.1M | −$565.1M | −$33.3M | $283.3M | −$425.9M | −$1.76B | −$822.4M | −$38.2M | −$452.2M | −$479.0M | −$192.8M |
| Financing activities | ||||||||||||
| Share repurchases & issuance (net) | −$358.1M | — | — | −$35.2M | −$39.0M | −$29.4M | −$10.1M | — | — | — | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $235.4M | $2.36B | $2.31B | −$205.3M | −$92.8M | $35.6M | $86.5M | $77.5M | −$1.3M | $1.17B | $51.3M | −$26.5M |
| Cash from financing activities | −$122.7M | $2.36B | $2.31B | −$240.5M | −$131.8M | $6.2M | $76.4M | $77.5M | −$1.3M | $1.17B | $51.3M | −$26.5M |
| Summary | ||||||||||||
| Net change in cash | $19.45B | $153.0M | $369.0M | $100,000 | −$9.01B | $8.34B | −$7.07B | $7.38B | −$3.85B | $850.8M | $486.5M | $794.5M |
| Cash at end of period | $21.03B | $1.58B | $1.43B | $11.89B | $1.06B | $9.01B | $671.1M | $7.74B | $357.8M | $4.21B | $3.36B | $2.87B |
| Free cash flow | $5.32B | $383.0M | $215.4M | $2.00B | $1.50B | $1.74B | $1.91B | $2.00B | $1.88B | $1.25B | $1.06B | $1.01B |
| Free cash flow margin | 488.3% | 39.9% | 22.6% | 247.0% | 197.9% | 265.5% | 349.0% | 477.3% | 615.0% | 485.5% | 463.9% | 525.5% |
| Capex / revenue | 0.3% | 1.2% | 2.4% | 1.4% | 1.0% | 0.5% | 0.4% | 0.4% | 0.5% | 1.2% | 0.5% | 0.6% |
| Operating cash flow / net income | 27.99 | 2.11 | 1.19 | 9.24 | 7.03 | 12.41 | 24.97 | 53.75 | 93.23 | 98.80 | 65.20 | 69.26 |
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.
WSE cash generation
In fiscal 2026 (ended March 31, 2026), Wise generated $5.7 billion of cash from operations (up 27.1%) and spent $14.8 million on capital expenditures, leaving free cash flow of $5.7 billion, 278.3% of revenue. It returned $358.1 million to shareholders through dividends ($0) and net share buybacks ($358.1 million). Cash and equivalents rose by $7.0 billion over the year.
Related: WSE income statement, WSE balance sheet. See the WSE stock overview for the latest quote and news.
WSE cash flow FAQ
What is Wise's free cash flow?
Wise's free cash flow was $5.7 billion in fiscal 2026: $5.7 billion of operating cash flow minus $14.8 million of capital expenditures It was $4.5 billion a year earlier..
How much cash does Wise generate from operations?
Wise generated $5.7 billion of cash from operating activities in fiscal 2026, 15.15 times its net income of $377.2 million.
How much does Wise spend on capital expenditures?
Wise spent $14.8 million on capital expenditures in fiscal 2026, 0.7% of revenue, compared with $35.4 million the year before.
How much stock does Wise buy back?
Wise spent $358.1 million on net share repurchases in fiscal 2026.