TOP Financial Group (TOP) Cash Flow: Operating & Free Cash Flow

TOP Financial Group 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 TOP Financial Group Limited (TOP) - Annual data in millions USD
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	-1.18	-5.97	1.05	3.40	3.49	5.04	2.54	1.28
Depreciation & Amortization	0.46	0.18	0.14	0.12	0.06	0.01	0.02	0.04
Deferred Income Tax	-0.04	0.00	0.00	-8.84	0.00	0.00	0.00	0.00
Stock Based Compensation	0.06	0.07	0.05	0.05	0.00	0.00	0.00	0.00
Change in Working Capital	15.35	-11.04	17.04	-9.60	-1.97	-0.72	-3.50	-1.85
Change in Accounts Receivable	-0.94	1.89	3.43	-7.93	-1.71	2.43	-1.18	-0.72
Change in Accounts Payable	38.22	-5.55	12.84	0.25	0.07	-2.87	-1.93	0.00
Change in Other Working Capital	16.14	-13.02	13.66	-2.03	-0.33	-0.75	-0.38	-1.13
Other Operating Activities	-0.67	2.29	-0.53	8.84	0.00	0.00	3.15	4.22
Net Cash from Operating Activities	14.02	-14.47	17.76	-6.03	1.58	4.33	-0.94	3.69
Investing Activities
Capital Expenditures	-0.90	0.00	-0.01	-0.09	-0.41	-0.02	0.00	-0.01
Acquisitions	0.00	-1.90	-0.50	-0.26	0.00	0.00	0.00	0.00
Purchases of Investments	-0.10	-1.90	-1.75	-1.20	0.00	0.00	0.00	0.00
Sales/Maturities of Investments	1.12	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Investing Activities	0.92	-7.46	0.97	-5.20	0.00	0.00	0.00	0.00
Net Cash from Investing Activities	1.28	-9.36	-1.28	-6.54	-0.41	-0.02	0.00	-0.01
Financing Activities
Common Stock Issued	0.00	0.00	4.39	22.65	0.00	0.00	0.00	0.00
Dividends Paid	0.00	0.00	0.00	0.00	0.00	-5.20	0.00	0.00
Other Financing Activities	0.31	0.00	0.00	-0.15	0.00	2.88	-0.58	0.00
Net Cash from Financing Activities	0.99	0.00	4.39	22.50	0.00	-2.33	-0.58	0.00
Summary
Effect of Forex Changes on Cash	0.24	0.31	-0.02	-0.04	-0.05	-0.02	0.07	0.00
Net Change in Cash	16.53	-23.52	20.85	9.93	1.12	1.99	-1.45	3.68
Cash at Beginning of Period	15.17	38.70	17.85	7.96	6.84	4.86	6.31	2.63
Cash at End of Period	31.71	15.17	38.70	17.85	7.96	6.84	4.86	6.31
Free Cash Flow	13.12	-14.47	17.75	-6.12	1.17	4.32	-0.94	3.68
Supplemental Disclosures
Interest Paid	-	-	-	-	-	0.01	-	-
Income Taxes Paid	-	0.00	-	0.03	0.10	-	-	-

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

Frequently Asked Questions About TOP Financial Group Cash Flow

What is TOP Financial Group's free cash flow?

TOP Financial Group generated free cash flow of $13.12M in fiscal 2026 (fiscal year ended Mar 31, 2026), operating cash flow of $14.02M minus $899.50K of capital expenditures. Free cash flow equaled 277.8% of revenue.

How much does TOP Financial Group spend on capital expenditures?

TOP Financial Group spent $899.50K on capital expenditures in fiscal 2026, compared with $3.23K a year earlier. That equals 6.4% of operating cash flow.

Does TOP Financial Group pay dividends or buy back shares?

TOP Financial Group'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