Autohome (ATHM) Cash Flow: Operating & Free Cash Flow

Autohome (ATHM) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), Autohome generated CNY 889.46M of operating cash flow and spent CNY 118.06M on capital expenditures. That left free cash flow of CNY 771.40M, down 37.4% from CNY 1.23B a year earlier, or 12.0% of revenue. It returned CNY 2.53B to shareholders through CNY 1.48B in dividends and CNY 1.05B in share buybacks.

Autohome Cash Flow Statement Analysis

Values in billions CNY

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Autohome Inc. (ATHM) - Annual data in billions CNY
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	1.39	1.62	1.93	1.82	2.14	3.28	3.20	2.86	1.99
Depreciation & Amortization	0.27	0.30	0.35	0.42	0.43	0.28	0.12	0.10	0.09
Deferred Income Tax	0.04	-0.04	-0.05	-0.15	-0.15	-0.02	0.14	0.10	0.01
Stock Based Compensation	0.22	0.19	0.20	0.17	0.21	0.21	0.20	0.20	0.18
Change in Working Capital	-0.97	-0.80	0.11	0.12	0.74	-0.59	-0.89	-0.08	0.21
Change in Accounts Receivable	-0.17	0.04	0.48	0.20	0.93	-0.04	-0.48	-0.90	-0.69
Change in Inventory	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.09
Change in Accounts Payable	0.00	0.00	-0.03	0.00	0.10	0.00	0.00	0.00	0.40
Change in Other Working Capital	-0.80	-0.84	-0.37	-0.08	-0.20	-0.54	-0.41	0.82	0.40
Other Operating Activities	-0.06	0.10	-0.08	0.18	0.16	-0.10	0.11	-0.08	-0.01
Net Cash from Operating Activities	0.89	1.37	2.45	2.57	3.52	3.33	2.89	3.11	2.47
Investing Activities
Capital Expenditures	-0.12	-0.14	-0.08	-0.12	-0.22	-0.26	-0.20	-0.11	-0.11
Acquisitions	0.00	0.00	0.00	-0.40	-0.08	-0.64	0.00	0.00	0.02
Purchases of Investments	-30.83	-21.06	-17.51	-18.95	-27.08	-2.08	-42.66	-55.18	-19.64
Sales/Maturities of Investments	33.10	18.14	18.59	16.35	23.57	0.00	41.70	51.99	14.84
Other Investing Activities	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.02
Net Cash from Investing Activities	2.15	-3.05	1.00	-3.11	-3.81	-2.99	-1.17	-3.30	-4.91
Financing Activities
Common Stock Issued	0.00	0.00	0.00	0.00	3.57	0.10	0.00	0.00	0.00
Common Stock Repurchased	-1.05	-0.22	-0.63	-0.72	-0.03	0.00	0.00	0.00	0.00
Dividends Paid	-1.48	-1.48	-0.49	-0.42	-0.67	-0.65	0.00	-0.60	0.00
Other Financing Activities	0.00	0.00	0.00	0.00	0.04	0.10	0.07	0.05	0.06
Net Cash from Financing Activities	-2.53	-1.70	-1.12	-1.14	2.90	-0.55	0.07	-0.54	0.06
Summary
Effect of Forex Changes on Cash	-0.04	0.04	-0.01	0.17	-0.05	-0.02	-0.01	0.04	0.00
Net Change in Cash	0.47	-3.34	2.31	-1.52	2.61	-0.22	1.78	-0.69	-2.38
Cash at Beginning of Period	1.79	5.13	2.82	4.33	1.77	1.99	0.22	0.91	3.29
Cash at End of Period	2.25	1.79	5.13	2.82	4.33	1.77	1.99	0.22	0.91
Free Cash Flow	0.77	1.23	2.37	2.45	3.30	3.06	2.69	3.00	2.37
Supplemental Disclosures
Income Taxes Paid	-	0.17	0.20	0.28	0.34	0.56	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Autohome Cash Flow

What is Autohome's free cash flow?

Autohome generated free cash flow of CNY 771.40M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of CNY 889.46M minus CNY 118.06M of capital expenditures. That was down 37.4% from CNY 1.23B a year earlier. Free cash flow equaled 12.0% of revenue.

How much does Autohome spend on capital expenditures?

Autohome spent CNY 118.06M on capital expenditures in fiscal 2025, compared with CNY 140.00M a year earlier. That equals 13.3% of operating cash flow.

Does Autohome pay dividends or buy back shares?

Yes. In fiscal 2025 Autohome returned CNY 1.48B in dividends and CNY 1.05B in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition