Operational efficiency remains weak, evidenced by a negative free cash flow margin of -4.8% and an OCF/NI ratio of 0.40, indicating a persistent disconnect between accounting performance and cash generation.
| Cash from Operations | -1.06M | -61.44M | -17.96M | -36.16M | -67.41M |
| Operating CF Margin % | - | -38.08% | -9.58% | -23.21% | -51.59% |
| Operating CF Growth % | 0% | -242.16% | 50.34% | 46.35% | - |
| Net Income | -2.9M | -34.94M | -105.62M | -115.76M | -180.79M |
| Depreciation & Amortization | 355K | 1.45M | 2.02M | 1.65M | 1.41M |
| Stock-Based Compensation | 0 | 0 | 51.44M | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 35K | 399K | 2.64M | 47.44M | 79.69M |
| Working Capital Changes | 1.45M | -28.35M | 31.56M | 30.51M | 32.28M |
| Change in Receivables | -357K | -871K | 3.9M | -442K | -3.25M |
| Change in Inventory | -33K | -237K | 0 | 0 | 0 |
| Change in Payables | 2.14M | 1.13M | 455K | 1.51M | 769K |
| Cash from Investing | -570K | 149K | -3.23M | -1.84M | -3.49M |
| Capital Expenditures | -570K | -351K | -2.07M | -1.34M | -1.66M |
| CapEx % of Revenue | 1.66% | 0.22% | 1.1% | 0.86% | 1.27% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 166K |
| Cash from Financing | -533K | 60.37M | 18.55M | 26.11M | 63.33M |
| Debt Issued (Net) | 5.87M | 37.87M | 10.01M | -45.6M | -13.7M |
| Equity Issued (Net) | 0 | 995K | 7.75M | 52.22M | 44.99M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -6.41M | 21.5M | 786K | 19.5M | 32.04M |
| Net Change in Cash | -2.14M | -1.06M | -2.86M | -10.64M | -7.28M |
| Free Cash Flow | -1.63M | -61.79M | -20.03M | -37.5M | -69.06M |
| FCF Margin % | -4.75% | -38.3% | -10.68% | -24.07% | -52.86% |
| FCF Growth % | - | -208.55% | 46.6% | 45.7% | - |
| FCF per Share | -0.21 | -8.10 | -2.63 | -4.92 | -9.06 |
| FCF Conversion (FCF/Net Income) | 0.62x | 1.76x | 0.17x | 0.31x | 0.37x |
| Interest Paid | 140K | 964K | 211K | 144K | 119K |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and funding shortfall
According to 2025Q1 financial disclosures, YMT reported a net loss of $2.6M while generating negative operating cash flow of $1.1M, resulting in an OCF/NI ratio of 0.40 that highlights the company's inability to convert its accounting performance into tangible liquidity for ongoing operations.
The divergence between net income and operating cash flow suggests that non-cash items and working capital adjustments are currently providing a temporary buffer against deeper cash depletion. Investors should monitor whether this conversion ratio remains suppressed, as it indicates that the underlying business model is not yet generating the self-sustaining cash flows required to cover its operating footprint.
As reported in recent quarterly filings, YMT's free cash flow margin stands at -4.8%, reflecting a persistent inability to fund its operational requirements through internal cash generation while simultaneously managing necessary capital expenditures to maintain its digital agricultural platform infrastructure.
The negative FCF trajectory underscores the structural challenges in achieving profitability, as the company continues to burn cash despite its high-margin service model. This trend warrants further investigation into whether the current level of capital intensity is sustainable given the company's limited cash reserves.
Based on the 2025Q1 statement of cash flows, YMT realized a $1.5M benefit from working capital changes, which served as the primary mechanism to mitigate the impact of the $2.6M net loss on the company's overall cash position during the period.
This reliance on working capital fluctuations to support cash flow appears precarious, as such benefits are often non-recurring and dependent on the timing of payables and receivables. Analysts should be cautious, as any reversal in these working capital dynamics could rapidly accelerate the company's cash burn rate.
Data from the latest quarterly report indicates that YMT allocated $570,000 toward capital expenditures, representing a 1.7% CapEx-to-revenue ratio, which suggests that the company is maintaining a relatively lean investment profile despite the significant operational losses incurred during the same period.
While the low capital intensity may appear prudent, it may also indicate a lack of investment in the technological upgrades necessary to defend the company's competitive moat. Investors should monitor whether this level of spending is sufficient to support the platform's long-term scalability or if it reflects a forced reduction in investment due to liquidity constraints.
Quick answers to the most common questions about buying YMT stock.
Yimutian Inc. American Depositary Shares (YMT) generated $-61.4M in net cash from operating activities in 2024. This reflects the cash generated directly from core business operations.
Yimutian Inc. American Depositary Shares (YMT) reported negative free cash flow of $61.8M in 2024, indicating capital requirements exceeded cash from operations.
Yimutian Inc. American Depositary Shares (YMT) spent $0.4M on capital expenditures in 2024. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.