Kweichow Moutai revenue and financials
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In the fiscal year ended December 2025, Kweichow Moutai reported revenue of ¥168.84B (−1.21% year over year). Net income was ¥82.32B, a net margin of 48.8%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- −1.21%
- 2025 vs 2024
- Net income growth
- −4.53%
- 2025 vs 2024
- Net margin
- 48.8%
- 2024: 50.5%
Financial data
Amounts in millions of CNY; per-share values in CNY; shares in millions.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating cash flow | 61,522 | 92,464 | 66,593 | 36,699 | 64,029 |
| Depreciation and amortization | 2,147 | 2,065 | 1,921 | 1,677 | 1,571 |
| Capital expenditure | -3,128 | -4,679 | -2,620 | -5,307 | -3,409 |
| Investing cash flow | -31,642 | -1,785 | -9,724 | -5,537 | -5,562 |
| Financing cash flow | -73,427 | -71,068 | -58,889 | -57,425 | -26,564 |
| Dividends paid | -64,672 | -68,787 | -32,549 | -54,751 | -24,236 |
| Share repurchases | -6,121 | — | — | — | — |
| Debt repaid | -61.8 | -110 | -122 | -54.3 | -88.1 |
| Effect of exchange rates | 2.3 | -1.1 | 1.7 | 0.9 | -2.0 |
| Net change in cash | -43,544 | 19,610 | -2,019 | -26,262 | 31,900 |
| Free cash flow | 58,395 | 87,785 | 63,973 | 31,392 | 60,620 |
| Levered free cash flow | 78,477 | 41,714 | 63,512 | 49,985 | 34,957 |