Matthews China Dividend Fund

MICDXNASDAQFinancial Services

$15.51

+$0.22(+1.44%)

Market Cap$92895175

P/E Ratio—

52W High$15.69

52W Low$11.54

Avg Volume0

Open$15.51

Beta0.87

Free Cash Flow Financials Revenue

Matthews China Dividend Fund (MICDX) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

MICDX · free cash flow · updated Jun 13, 2026

Core FCF metrics

MICDX · FCF · TTM · margin & CAGR

Free cash flow was $53.0M for FY2023 (fiscal year ending 2023-10-31), up 0.2% year-over-year The FCF margin was 99.3%. Five-year CAGR stands at -8.0%.

FY2023 Free Cash Flow$53.0M▲ +0.2% YoY

Trailing 12M (TTM)$53.0Mtrailing 4 quarters sum

FCF Margin99.3%$53.0M ÷ revenue

3-Year CAGR-7.5%FY2020 → FY2023

5-Year CAGR-8.0%FY2018 → FY2023

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 13, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

MICDX · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2023Latest$53.0M(0M)$53.0M▲ +0.2%99.3%

FY2022$52.9M(0M)$52.9M▼ 6.6%101.8%

FY2021$56.7M(0M)$56.7M▼ 15.3%106.9%

FY2020$66.9M(0M)$66.9M▲ +17.6%120.8%

FY2019$56.9M(0M)$56.9M▼ 29.1%100.5%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

MICDX · P/FCF · FCF yield · FCF per share

Matthews China Dividend Fund (MICDX) trades at a FCF yield of 57.08% and a price-to-free-cash-flow ratio of 2.0x. FCF per share stands at $7.84, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

57.08%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$7.84

TTM FCF ÷ Shares Outstanding

Price / FCF

x2.0

Share Price ÷ FCF per Share

EV / FCF (TTM)

x8.8

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2023 · 2023-10-31

Cash flow statement summary

MICDX · cash flow statement · operating / investing / financing

For FY2023, Matthews China Dividend Fund generated $53.0M in operating cash flow and spent 0M in capital expenditures, yielding $53.0M in free cash flow.

Operating Activities

+$53.0M

Cash from core business operations

2023-10-31

Investing Activities

+$0.0M

CapEx, acquisitions & investments

2023-10-31

Financing Activities

−$53.2M

Buybacks, dividends & debt

2023-10-31

FCF FormulaOperating CF ($53.0M) − |CapEx| (0M) = FCF ($53.0M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

MICDX vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Matthews China Dividend FundYOU

MICDX

$53.0M+0.2%99.3%

Berkshire Hathaway Inc.

BRK-B

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Matthews China Dividend Fund (MICDX) reported free cash flow of $53.0M for FY2023 (fiscal year ending 2023-10-31), up 0.2% year-over-year. The FCF margin was 99.3%.

Based on available data, Matthews China Dividend Fund has maintained positive free cash flow for at least 12 fiscal year(s). FCF peaked at $80.3M in FY2018. The 5-year CAGR stands at -8.0%.

Matthews China Dividend Fund's FCF yield is 57.08% and price-to-FCF ratio is 2.0x for FY2023, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

MICDX free cash flow · 8 questions

Matthews China Dividend Fund free cash flow was $53.0M for FY2023, up 0.2% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $53.0M.

MICDX free cash flowMICDX FCFMICDX FCF 2023MICDX free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Matthews China Dividend Fund · Matthews China Dividend Fund SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 13, 2026