Kweichow Moutai Co., Ltd. (SHA:600519)

Kweichow Moutai Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	82,161	82,320	86,228	74,734	62,717	52,460
Depreciation & Amortization	2,147	2,147	2,065	1,921	1,677	1,571
Other Amortization	111.92	111.92	20.19	16.89	11.49	10.69
Loss (Gain) From Sale of Assets	2.38	2.38	6.9	-1.15	-0.21	11.92
Asset Writedown & Restructuring Costs	-	-	-	-	20.78	-
Loss (Gain) From Sale of Investments	-70.5	-70.5	-70.46	-36.31	-63.72	-55.93
Provision & Write-off of Bad Debts	-0	-0	-	-0.87	-0.42	13.07
Other Operating Activities	49,038	3,017	3,132	2,812	2,686	3,274
Change in Accounts Receivable	-10,984	-10,984	1,761	-3,465	-15,052	504.31
Change in Inventory	-7,084	-7,084	-7,908	-7,611	-5,430	-4,525
Change in Accounts Payable	-6,806	-6,806	8,066	-591.51	-8,645	11,881
Operating Cash Flow	107,384	61,522	92,464	66,593	36,699	64,029
Operating Cash Flow Growth	24.52%	-33.46%	38.85%	81.46%	-42.68%	23.92%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-2,295	-3,128	-4,679	-2,620	-5,307	-3,409
Sale of Property, Plant & Equipment	0.16	0.16	0.72	24.95	0.36	2.46
Investment in Securities	1,735	-28,642	2,805	-7,268	-210	-2,144
Other Investing Activities	166.18	127.4	87.93	138.3	-20.64	-12.2
Investing Cash Flow	-393.37	-31,642	-1,785	-9,724	-5,537	-5,562

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Long-Term Debt Repaid	-	-61.77	-110.48	-122.32	-54.33	-88.12
Lease Payments	-61.77	-61.77	-110.48	-122.32	-54.33	-88.12
Total Debt Repaid	-61.77	-61.77	-110.48	-122.32	-54.33	-88.12
Net Debt Issued (Repaid)	-61.77	-61.77	-110.48	-122.32	-54.33	-88.12
Repurchase of Common Stock	-6,121	-6,121	-	-	-	-
Common Dividends Paid	-65,033	-64,672	-68,787	-32,549	-54,751	-24,236
Other Financing Activities	716.12	-2,573	-2,170	-2,217	-2,619	-2,240
Financing Cash Flow	-70,499	-73,427	-71,068	-58,889	-57,425	-26,564

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	-2.93	2.3	-1.08	1.72	0.91	-2.03
Net Cash Flow	36,489	-43,544	19,610	-2,019	-26,262	31,900

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	105,090	58,395	87,785	63,973	31,392	60,620
Free Cash Flow Growth	27.92%	-33.48%	37.22%	103.79%	-48.22%	22.27%
Free Cash Flow Margin	61.33%	34.59%	51.37%	43.31%	25.30%	57.09%
Free Cash Flow Per Share	83.98	46.58	69.88	50.92	24.99	48.26
Levered Free Cash Flow	49,152	78,477	41,714	63,512	49,985	34,957
Unlevered Free Cash Flow	49,293	78,605	41,789	63,590	50,059	35,074
Free Cash Flow After Leases	105,028	58,333	87,675	63,851	31,338	60,532

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	157.78	141.08	97.06	142.9	79.23	163.46
Cash Income Tax Paid	77,839	77,431	77,056	66,682	62,010	44,610
Change in Working Capital	-25,985	-25,985	1,069	-12,802	-30,349	6,744

Data Source: S&P Global Market Intelligence Last updated: Oct 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Nov 11, 2026

Data Sources Report a data error