Boqii Holding (BQ) Cash Flow: Operating & Free Cash Flow

Boqii Holding Cash Flow Statement Analysis

Values in millions CNY

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Boqii Holding Limited (BQ) - Annual data in millions CNY
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period ending	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019
Operating Activities
Net Income	-1.88	-58.60	-68.90	-105.98	-132.82	-193.22	-175.93	-231.53
Depreciation & Amortization	3.89	14.73	24.30	32.44	19.38	18.77	20.30	21.09
Deferred Income Tax	1.20	-0.80	-0.91	-0.99	-0.99	-1.89	-0.66	-0.14
Stock Based Compensation	0.01	0.08	0.68	-7.68	14.41	55.02	0.00	0.00
Change in Working Capital	-3.30	-22.14	7.95	-17.01	-50.01	-115.81	-42.08	-17.23
Change in Accounts Receivable	2.66	21.26	27.18	-27.46	-6.13	-0.88	-16.01	-10.54
Change in Inventory	8.17	15.14	26.54	30.58	-23.18	-38.84	15.49	14.45
Change in Accounts Payable	-11.71	-4.64	-31.50	-36.08	18.11	-22.03	-19.54	-15.75
Change in Other Working Capital	0.09	-48.76	-2.72	5.37	-44.20	-54.06	-22.02	-5.39
Other Operating Activities	0.09	-0.91	10.54	5.37	1.54	-10.37	32.46	18.71
Net Cash from Operating Activities	-29.29	-66.83	-25.43	-54.07	-147.50	-247.49	-165.91	-206.22
Investing Activities
Capital Expenditures	-1.06	-3.30	-0.53	-1.86	-3.08	-6.51	-1.21	-2.05
Acquisitions	10.08	29.09	-29.09	-2.94	-0.13	0.05	1.80	-0.64
Purchases of Investments	0.00	-4.00	69.80	58.29	-15.79	-168.55	-50.00	-10.75
Sales/Maturities of Investments	15.69	0.30	8.07	58.29	40.46	0.00	0.00	0.03
Other Investing Activities	-1.30	31.25	-29.66	-7.01	-0.55	-9.42	-25.66	-9.16
Net Cash from Investing Activities	23.73	24.60	47.81	46.50	21.15	-184.42	-75.06	-22.56
Financing Activities
Debt Repayment	-27.00	-47.66	-92.87	-275.19	-447.76	-100.04	253.84	131.18
Common Stock Issued	24.33	14.52	35.95	0.03	1.02	393.70	0.00	0.00
Other Financing Activities	0.00	0.00	0.03	0.03	0.25	354.83	41.20	68.14
Net Cash from Financing Activities	16.33	8.15	-33.13	-76.66	2.00	648.49	295.03	199.31
Summary
Effect of Forex Changes on Cash	2.12	0.02	-6.38	11.22	-5.02	-12.70	7.07	6.48
Net Change in Cash	10.77	-34.06	-17.13	-84.23	-129.38	203.89	61.14	-22.99
Cash at Beginning of Period	38.66	72.72	89.85	162.86	292.24	88.35	27.22	50.21
Cash at End of Period	49.43	38.66	72.72	89.85	162.86	292.24	88.35	27.22
Free Cash Flow	-30.35	-70.13	-25.96	-55.92	-150.58	-254.00	-167.12	-208.28

Source: Company financial statements from annual and quarterly filings. Data as of Mar 31, 2026. Data sources and methodology

Frequently Asked Questions About Boqii Holding Cash Flow

What is Boqii Holding's free cash flow?

Boqii Holding had negative free cash flow of CNY 30.35M in fiscal 2026 (fiscal year ended Mar 31, 2026), operating cash flow of −CNY 29.29M minus CNY 1.06M of capital expenditures.

How much does Boqii Holding spend on capital expenditures?

Boqii Holding spent CNY 1.06M on capital expenditures in fiscal 2026, compared with CNY 3.30M a year earlier.

Does Boqii Holding pay dividends or buy back shares?

Boqii Holding's cash flow statement for fiscal 2026 shows no dividend payments or share repurchases.

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