HCW Biologics annual free cash flow
2020
2021
2022
2023
2024
2025
HCW Biologics Free Cash Flow (FCF) History (HCWB)
HCW Biologics reported −$13.4M in free cash flow for fiscal 2025, an increase of $1.1M from the previous fiscal year, with a free cash flow margin of −24693.20%.
View full HCW Biologics company overviewHCW Biologics free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | −$13.4M | $1.1M | — | −24693.20% |
| 2024 | 2024-12-31 | −$14.5M | $14.2M | — | −564.48% |
| 2023 | 2023-12-31 | −$28.7M | −$8.1M | — | −1010.51% |
| 2022 | 2022-12-31 | −$20.7M | −$9.6M | — | −307.36% |
| 2021 | 2021-12-31 | −$11.0M | −$404,972 | — | — |
| 2020 | 2020-12-31 | −$10.6M | — | — | −258.99% |
HCW Biologics quarterly free cash flow
Q3.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q4 2025 | 2025-12-31 | −$3.4M | −$407,224 | — | −12422.78% |
| Q3 2025 | 2025-09-30 | −$3.2M | −$276,407 | — | −20760.87% |
| Q2 2025 | 2025-06-30 | −$3.3M | $1.6M | — | −50111.50% |
| Q1 2025 | 2025-03-31 | −$3.5M | $219,723 | — | −69375.24% |
| Q4 2024 | 2024-12-31 | −$2.9M | $4.7M | — | −746.78% |
| Q3 2024 | 2024-09-30 | −$3.0M | $3.3M | — | −694.98% |
| Q2 2024 | 2024-06-30 | −$4.9M | $6.1M | — | −788.68% |
| Q1 2024 | 2024-03-31 | −$3.7M | $205,019 | — | −331.37% |
| Q4 2023 | 2023-12-31 | −$7.6M | −$3.8M | — | −574.81% |
| Q3 2023 | 2023-09-30 | −$6.2M | $6.3M | — | −729.02% |
| Q2 2023 | 2023-06-30 | −$10.9M | −$8.2M | — | −1757.91% |
| Q1 2023 | 2023-03-31 | −$3.9M | −$2.3M | — | −9403.81% |
| Q4 2022 | 2022-12-31 | −$3.9M | −$461,612 | — | −287.59% |
| Q3 2022 | 2022-09-30 | −$12.5M | −$7.4M | — | −690.14% |
| Q2 2022 | 2022-06-30 | −$2.7M | −$1.7M | — | −595.32% |
| Q1 2022 | 2022-03-31 | −$1.6M | −$102,635 | — | −51.83% |
| Q4 2021 | 2021-12-31 | −$3.4M | −$541,696 | — | — |
| Q3 2021 | 2021-09-30 | −$5.1M | — | — | — |
| Q2 2021 | 2021-06-30 | −$990,440 | — | — | — |
| Q1 2021 | 2021-03-31 | −$1.5M | — | — | — |
| Q3 2020 | 2020-09-30 | −$2.9M | — | — | — |
HCW Biologics free cash flow growth trends
Over the last five reported fiscal years, free cash flow declined from −$10.6M to −$13.4M, a net decrease of $2.8M. HCW Biologics's latest reported quarter, Q4 2025, generated −$3.4M in free cash flow, a decrease of $407,224 year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review HCW Biologics filings at SEC.gov ↗