X Financial cash flow statement

In fiscal 2025, X Financial's operations generated $204m of cash; it spent $3.0m on capital projects, leaving free cash flow of $201m. It returned $21.5m in dividends and $102m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

X Financial: cash flow statement, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	12	−91	1	87	−98	70	93	197	212	204
Depreciation and amortisation	0	1	1	2	2	1	1	1	1	2
Stock-based pay	6	11	26	23	12	14	8	6	6	8
Capital spending	1	3	6	2	1	0	1	1	2	3
Free cash flow	12	−94	−5	85	−99	69	92	195	210	201
Free cash flow after stock pay	6	−105	−31	62	−111	56	84	189	204	193
Dividends paid	—	—	—	15	—	0	0	8	16	22
Share buybacks	—	—	—	—	—	0	22	4	25	102
Shares issued	—	148	—	—	—	—	—	—	—	—

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from X Financial's SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to X Financial.