Futu Holdings (FUTU) Cash Flow: Operating & Free Cash Flow

Futu Holdings Cash Flow Statement Analysis

Values in billions HKD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Futu Holdings Limited (FUTU) - Annual data in billions HKD
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	11.30	5.43	4.28	2.93	2.81	1.33	0.17	0.14	-0.01
Depreciation & Amortization	0.22	0.07	0.17	0.15	0.12	0.08	0.07	0.01	0.00
Deferred Income Tax	-0.08	-0.02	-0.01	-0.05	-0.02	-0.01	0.00	-0.01	-0.02
Stock Based Compensation	0.34	0.33	0.29	0.20	0.10	0.03	0.02	0.01	0.01
Change in Working Capital	29.23	24.76	-10.90	0.03	3.14	19.01	1.72	4.30	1.87
Change in Accounts Receivable	-18.73	-29.89	-6.15	3.49	-13.14	-20.93	-2.12	-0.56	-2.36
Change in Accounts Payable	46.38	52.48	-4.56	2.33	16.13	34.10	3.72	4.87	4.20
Change in Other Working Capital	1.78	2.20	-0.20	-5.45	0.15	5.84	0.12	-0.01	0.02
Other Operating Activities	-0.16	0.39	-0.16	0.22	-0.14	0.03	0.01	0.02	0.01
Net Cash from Operating Activities	40.79	31.00	-6.34	3.47	6.01	20.46	1.97	4.47	1.86
Investing Activities
Capital Expenditures	-0.05	-0.17	-0.08	-0.09	-0.07	-0.04	-0.12	-0.02	-0.01
Acquisitions	0.48	0.00	-0.02	-0.11	-0.30	0.00	-0.01	0.00	0.00
Purchases of Investments	-3.67	-1.24	-4.80	-4.30	-1.19	-0.21	-0.29	-0.12	0.00
Sales/Maturities of Investments	1.46	1.51	2.45	4.59	0.30	0.31	0.25	0.06	0.00
Other Investing Activities	0.00	0.00	0.00	0.00	0.30	-0.30	0.01	0.00	0.00
Net Cash from Investing Activities	-1.78	0.10	-2.44	0.09	-0.96	-0.24	-0.16	-0.08	-0.01
Financing Activities
Debt Repayment	-190.92	-85.46	3.17	-74.69	0.87	4.02	0.00	0.04	1.54
Common Stock Issued	0.01	0.02	0.00	0.00	10.86	2.34	1.26	0.00	0.62
Common Stock Repurchased	0.00	0.00	-0.87	-3.15	-1.18	0.00	0.00	0.00	0.00
Dividends Paid	-2.15	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Financing Activities	0.00	0.00	0.01	0.02	0.01	2.05	-0.11	0.00	0.62
Net Cash from Financing Activities	4.30	0.07	2.31	-7.01	10.55	8.41	1.15	0.04	2.16
Summary
Effect of Forex Changes on Cash	0.24	-0.15	0.07	-0.14	0.17	0.00	-0.04	0.01	0.02
Net Change in Cash	43.54	31.02	-6.41	-3.58	15.77	28.62	2.92	4.44	4.03
Cash at Beginning of Period	80.33	49.31	55.72	59.29	43.52	14.90	11.99	7.55	3.52
Cash at End of Period	123.87	80.33	49.31	55.72	59.29	43.52	14.90	11.99	7.55
Free Cash Flow	40.73	30.83	-6.42	3.38	5.94	20.41	1.85	4.45	1.85
Supplemental Disclosures
Interest Paid	1.79	1.57	0.88	0.30	0.37	0.18	-	-	-
Income Taxes Paid	1.65	0.76	0.70	0.69	0.10	0.02	-	-	-

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

Frequently Asked Questions About Futu Holdings Cash Flow

What is Futu Holdings's free cash flow?

Futu Holdings generated free cash flow of HKD 40.73B in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of HKD 40.79B minus HKD 54.73M of capital expenditures. That was up 32.1% from HKD 30.83B a year earlier. Free cash flow equaled 193.1% of revenue.

How much does Futu Holdings spend on capital expenditures?

Futu Holdings spent HKD 54.73M on capital expenditures in fiscal 2025, compared with HKD 167.52M a year earlier. That equals 0.1% of operating cash flow.

Does Futu Holdings pay dividends or buy back shares?

Yes. In fiscal 2025 Futu Holdings returned HKD 2.15B 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