H World Group Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	5,115	3,102	4,131	-1,849	-480
Depreciation & Amortization	1,257	1,332	1,414	1,456	1,503
Stock-Based Compensation	420	322	143	87	109
Other Adjustments	-493	3,328	2,026	3,312	2,425
Change in Receivables	-	-95	296	-621	-113
Changes in Inventories	-	-	-	20	-
Changes in Accounts Payable	-	-	-	9	-
Changes in Accrued Expenses	-	873	1,535	570	-367
Changes in Income Taxes Payable	-	251	62	82	83
Changes in Unearned Revenue	-	467	576	-19	224
Changes in Other Operating Activities	2,080	-2,062	-2,509	-1,483	-2,042
Operating Cash Flow	8,379	7,518	7,674	1,564	1,342
Operating Cash Flow Growth	11.45%	-2.03%	390.67%	16.54%	120.36%
Capital Expenditures	-838	-883	-894	-1,049	-1,658
Sale of Property, Plant & Equipment	-	-	-	4	-
Purchases of Intangible Assets	-	-15	-7	-4	-17
Purchases of Investments	-8,134	-4,017	-3,509	-401	-521
Proceeds from Sale of Investments	7,777	2,563	2,972	937	1,494
Payments for Business Acquisitions	-	-	0	-57	-742
Proceeds from Business Divestments	-	-	-	6	-
Other Investing Activities	153	113	-39	42	42
Investing Cash Flow	-1,042	-2,239	-1,477	-522	-1,402
Short-Term Debt Issued	-	77	745	4,249	2,288
Short-Term Debt Repaid	-	-367	-3,436	-1,935	-2,474
Net Short-Term Debt Issued (Repaid)	-	-290	-2,691	2,314	-186
Long-Term Debt Issued	3,623	562	424	2,852	91
Long-Term Debt Repaid	-3,198	-278	-2,484	-5,859	-1,724
Net Long-Term Debt Issued (Repaid)	425	284	-2,060	-3,007	-1,633
Issuance of Common Stock	-	-	1,973	-	-
Repurchase of Common Stock	-783	-1,172	-848	-334	0
Net Common Stock Issued (Repurchased)	-783	-1,172	1,125	-334	0
Common Dividends Paid	-3,907	-3,480	-	-416	-
Other Financing Activities	-41	-846	-94	49	18
Financing Cash Flow	-4,306	-5,504	-3,720	-1,394	-1,801
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-30	30	164	297	-88
Net Cash Flow	3,001	-195	2,641	-55	-1,949
Free Cash Flow	7,541	6,635	6,780	515	-316
Free Cash Flow Growth	13.66%	-2.14%	1216.51%	-	-
FCF Margin	29.80%	27.77%	30.98%	3.72%	-2.47%
Free Cash Flow Per Share	23.22	20.24	20.23	1.66	-1.01
Levered Free Cash Flow	8,004	3,020	-482	-2,928	-4,541
Unlevered Free Cash Flow	7,300	6,977	5,959	-670.11	-2,098

Updated Mar 18, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

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