Dingdong (Cayman) (DDL) Cash Flow: Operating & Free Cash Flow

Dingdong (Cayman) (DDL) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), Dingdong (Cayman) generated CNY 535.51M of operating cash flow and spent CNY 177.76M on capital expenditures. That left free cash flow of CNY 357.75M, down 56.9% from CNY 830.85M a year earlier, or 1.5% of revenue. It repurchased CNY 8.79M of its own shares.

Dingdong (Cayman) 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 Dingdong (Cayman) Limited (DDL) - Annual data in billions CNY
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Operating Activities
Net Income	0.23	0.30	-0.09	-0.81	-6.43	-3.18	-1.87
Depreciation & Amortization	0.10	0.11	0.16	0.20	0.21	0.12	0.03
Deferred Income Tax	0.00	0.00	0.00	0.00	0.00	0.07	0.10
Stock Based Compensation	0.08	0.12	0.14	0.24	0.32	0.15	0.00
Change in Working Capital	0.12	0.38	-0.48	-0.53	0.16	0.76	0.73
Change in Accounts Receivable	-0.07	-0.02	0.04	0.03	-0.15	-0.03	-0.01
Change in Inventory	-0.02	-0.08	0.13	-0.07	-0.15	-0.22	-0.13
Change in Accounts Payable	0.25	0.32	-0.56	-0.17	0.48	0.80	0.64
Change in Other Working Capital	-0.76	-0.70	-0.73	-0.57	-0.01	0.21	0.23
Other Operating Activities	0.72	0.73	0.84	0.99	0.07	0.02	0.04
Net Cash from Operating Activities	0.54	0.93	-0.23	0.09	-5.67	-2.06	-0.96
Investing Activities
Capital Expenditures	-0.18	-0.10	-0.08	-0.13	-0.45	-0.25	-0.12
Acquisitions	0.00	0.00	0.00	0.00	0.00	0.00	0.06
Purchases of Investments	-4.74	-5.70	-8.17	-6.50	-9.08	-1.31	-1.05
Sales/Maturities of Investments	5.34	6.27	8.74	6.57	5.45	0.54	0.99
Other Investing Activities	0.00	0.01	-8.14	-0.01	0.01	-0.01	-0.06
Net Cash from Investing Activities	0.43	0.48	0.52	-0.05	-4.07	-1.02	-0.19
Financing Activities
Debt Repayment	-5.70	-10.09	-12.82	-0.06	1.80	1.33	0.51
Common Stock Issued	0.00	0.00	0.00	0.00	0.59	0.00	0.00
Common Stock Repurchased	-0.01	-0.03	0.00	-0.02	0.00	0.00	0.00
Other Financing Activities	0.00	0.00	0.00	0.07	6.66	2.33	1.17
Net Cash from Financing Activities	-0.74	-1.72	-0.93	1.11	9.04	3.66	1.68
Summary
Effect of Forex Changes on Cash	0.00	0.00	0.00	0.04	-0.09	-0.07	0.03
Net Change in Cash	0.22	-0.32	-0.65	1.19	-0.78	0.51	0.56
Cash at Beginning of Period	0.89	1.21	1.86	0.67	1.45	0.94	0.38
Cash at End of Period	1.11	0.89	1.21	1.86	0.67	1.45	0.94
Free Cash Flow	0.36	0.83	-0.32	-0.04	-6.12	-2.30	-1.09
Supplemental Disclosures
Interest Paid	-	0.05	0.10	0.13	0.08	0.01	-

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

Frequently Asked Questions About Dingdong (Cayman) Cash Flow

What is Dingdong (Cayman)'s free cash flow?

Dingdong (Cayman) generated free cash flow of CNY 357.75M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of CNY 535.51M minus CNY 177.76M of capital expenditures. That was down 56.9% from CNY 830.85M a year earlier. Free cash flow equaled 1.5% of revenue.

How much does Dingdong (Cayman) spend on capital expenditures?

Dingdong (Cayman) spent CNY 177.76M on capital expenditures in fiscal 2025, compared with CNY 98.18M a year earlier. That equals 33.2% of operating cash flow.

Does Dingdong (Cayman) pay dividends or buy back shares?

Yes. In fiscal 2025 Dingdong (Cayman) returned CNY 8.79M 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