China Automotive Systems (CAAS) Cash Flow: Operating & Free Cash Flow

China Automotive Systems Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for China Automotive Systems, Inc. (CAAS) - Annual data in millions USD
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	Mar 2020	Dec 2018	Dec 2017
Operating Activities
Net Income	51.91	37.90	42.74	22.34	10.73	-4.98	8.38	0.08	-18.64
Depreciation & Amortization	14.26	20.22	18.71	25.17	27.11	22.06	17.84	16.82	15.36
Deferred Income Tax	-1.44	-6.04	-1.32	1.24	4.02	2.21	0.02	-2.50	4.14
Stock Based Compensation	0.00	0.00	0.00	0.00	0.09	0.00	0.00	0.02	0.10
Change in Working Capital	47.99	-43.88	-42.94	-5.49	-9.22	40.87	6.54	-7.46	48.00
Change in Accounts Receivable	-10.13	-77.55	-51.26	-36.94	26.56	7.30	24.12	33.23	23.24
Change in Inventory	-9.16	-1.79	-1.65	-5.37	-25.68	-0.11	3.99	-17.85	-12.16
Change in Accounts Payable	50.07	29.95	13.35	27.27	-2.80	27.25	-22.14	-22.49	2.53
Change in Other Working Capital	-1.26	-4.61	-5.72	0.26	3.14	9.82	0.56	-0.35	34.38
Other Operating Activities	-2.53	-4.46	1.40	5.99	-0.44	-2.80	-2.48	5.57	1.20
Net Cash from Operating Activities	111.63	9.78	19.91	48.02	28.27	57.43	30.29	12.53	50.15
Investing Activities
Capital Expenditures	-37.19	-44.46	-21.68	-20.30	-9.26	-15.83	-35.90	-25.95	-27.30
Acquisitions	-1.12	-5.88	-7.73	-12.80	-13.76	-5.36	-8.58	-5.96	-7.63
Purchases of Investments	-33.33	-77.86	-68.55	-93.05	-77.24	-8.70	-19.65	-22.92	-32.15
Sales/Maturities of Investments	42.00	29.76	66.53	79.13	89.97	-0.74	31.85	34.18	35.78
Other Investing Activities	-2.98	-15.50	-0.66	0.15	-0.02	-0.15	4.96	23.11	-16.02
Net Cash from Investing Activities	-31.49	-77.93	-28.64	-32.74	2.96	-23.76	-27.32	2.45	-47.32
Financing Activities
Debt Repayment	-21.42	-59.00	-61.44	-51.05	-55.25	-57.21	-12.64	-4.76	29.08
Common Stock Repurchased	0.00	-0.07	0.00	-2.43	0.00	-2.99	-1.31	-0.30	0.00
Dividends Paid	-2.19	-22.43	0.00	0.00	0.00	-0.09	0.00	0.00	0.00
Other Financing Activities	-0.20	15.50	3.46	0.00	-1.08	0.55	3.21	15.18	-0.62
Net Cash from Financing Activities	11.45	17.37	6.80	-1.58	-3.12	-19.83	-10.74	10.12	28.46
Summary
Effect of Forex Changes on Cash	0.86	-2.58	-1.82	-14.25	3.32	7.82	-1.81	-5.22	2.17
Net Change in Cash	92.46	-53.37	-3.76	-0.55	31.44	21.66	-9.57	19.88	33.47
Cash at Beginning of Period	101.82	155.19	158.95	159.50	128.06	106.40	115.97	96.09	31.09
Cash at End of Period	194.28	101.82	155.19	158.95	159.50	128.06	106.40	115.97	64.56
Free Cash Flow	74.44	-34.68	-1.77	27.73	19.01	41.60	-5.61	-13.43	22.86
Supplemental Disclosures
Interest Paid	-	1.79	1.15	1.49	1.84	2.75	-	-	-
Income Taxes Paid	-	18.51	7.97	4.04	3.40	3.23	-	-	-

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

Frequently Asked Questions About China Automotive Systems Cash Flow

What is China Automotive Systems's free cash flow?

China Automotive Systems generated free cash flow of $74.44M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $111.63M minus $37.19M of capital expenditures. Free cash flow equaled 9.7% of revenue.

How much does China Automotive Systems spend on capital expenditures?

China Automotive Systems spent $37.19M on capital expenditures in fiscal 2025, compared with $44.46M a year earlier. That equals 33.3% of operating cash flow.

Does China Automotive Systems pay dividends or buy back shares?

Yes. In fiscal 2025 China Automotive Systems returned $2.19M in dividends 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