Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Cash flow from operations refers to the cash brought in through a company's normal business operations. It is the cash flow before any investment or financing activities. It is the cash version of net income.
NICO Holdings (MSW:NICO) Cash Flow from Operations Explanation
For companies reported in indirect method, cash flow from operations contains six items:
1. Net Income From Continuing Operations:
Net Income From Continuing Operations indicates the net income that a firm brings in from ongoing business activities. These activities are expected to continue into the next reporting period. It excludes extraordinary items, income from the cumulative effects of accounting changes, non-recurring items, income from tax loss carry forward, and preferred dividends.
NICO Holdings's net income from continuing operations for the
six
months ended in Dec. 2025 was MWK471,388 Mil.
2. Depreciation, Depletion and Amortization:
Depreciation is a present expense that accounts for the past cost of an asset that is now providing benefits.
Depletion and amortization are synonyms for depreciation.
Generally:
The term depreciation is used when discussing man made tangible assets
The term depletion is used when discussing natural tangible assets
The term amortization is used when discussing intangible assets
NICO Holdings's depreciation, depletion and amortization for the
six
months ended in Dec. 2025 was MWK11,850 Mil.
3. Change In Working Capital:
Working Capital is a measure of a company's short term liquidity or its ability to cover short term liabilities. It is defined as the difference between a company's current assets and current liabilities. Changes in Working Capital is reported in the cash flow statement since it is one of the major ways in which net income can differ from operating cash flow.
NICO Holdings's change in working capital for the
six
months ended in Dec. 2025 was MWK363,302 Mil. It means NICO Holdings's working capital
increased by MWK363,302 Mil
from Dec. 2024 to Dec. 2025 .
4. Deferred Tax:
It is the cash flow generated from deferred tax.
NICO Holdings's cash flow from deferred tax for the
six
months ended in Dec. 2025 was MWK0 Mil.
NICO Holdings's cash from discontinued operating Activities for the
six
months ended in Dec. 2025 was MWK0 Mil.
6. Asset Impairment Charge:
It is the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value.
NICO Holdings's asset impairment charge for the
six
months ended in Dec. 2025 was MWK38,486 Mil.
7. Stock Based Compensation:
It is a way corporations use stock options to reward employees. It provides executives and employees the opportunity to share in the growth of the company and, if structured properly, can align their interests with the interests of the company's shareholders and investors, without burning the company's cash on hand.
NICO Holdings's stock based compensation for the
six
months ended in Dec. 2025 was MWK0 Mil.
8. Cash Flow from Others:
These are cash differences caused by the change of inventory, accounts payable, accounts receivable etc. For instance, if a company pays its suppliers slower, its cash position will build up faster. If a company receives payments from its customers slower, its account receivables will rise, and its cash position will grow more slowly (or even shrink).
NICO Holdings's cash flow from others for the
six
months ended in Dec. 2025 was MWK-932,223 Mil.
NICO Holdings Cash Flow from Operations Related Terms
NICO Holdings Cash Flow from Operations Historical Data
* Premium members only.
The historical data trend for NICO Holdings's Cash Flow from Operations can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NICO Holdings Cash Flow from Operations Calculation
Cash flow from operations refers to the cash brought in through a company's normal business operations. It is the cash flow before any investment or financing activities. It is the cash version of net income.
NICO Holdings's Cash Flow from Operations for the fiscal year that ended in Dec. 2025 is calculated as:
For stock reported annually, GuruFocus uses latest annual data as the TTM data. Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 was MWK-47,197 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Cash Flow from Operations of MWK-47,197 Mil mean?
NICO Holdings (MSW:NICO) has a Cash Flow from Operations of MWK-47,197 Mil as of Dec. 2025. Cash Flow from Operations is the amount of cash earned or paid from standard business operations. View historical data for NICO Holdings and its competitors.
Is NICO Holdings' Cash Flow from Operations too high?
NICO Holdings' current Cash Flow from Operations is MWK-47,197 Mil. Overall, NICO Holdings has a GF Score™ of 79/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does NICO Holdings' Cash Flow from Operations compare to BRK.A and AIG?
NICO Holdings' Cash Flow from Operations of MWK-47,197 Mil can be compared against companies in the Insurance industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cash Flow from Operations for an Insurance company?
A good Cash Flow from Operations depends on the Insurance industry context. However, Cash Flow from Operations should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cash Flow from Operations mean?
A high Cash Flow from Operations can signal that a stock is expensive relative to its fundamentals. Cash Flow from Operations is the amount of cash earned or paid from standard business operations. View historical data for NICO Holdings and its competitors. NICO Holdings's current Cash Flow from Operations is MWK-47,197 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NICO Holdings stock overvalued right now?
Based on GuruFocus' analysis, NICO Holdings (MSW:NICO) is currently considered Fairly Valued. The stock's GF Value™ is MWK1,270.68, compared to a current price of MWK1,348.83 — trading 6.2% above its estimated fair value. The current Cash Flow from Operations is MWK-47,197 Mil. NICO Holdings' overall GF Score™ is 79/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cash Flow from Operations calculated?
Cash Flow from Operations is calculated from a company's financial statements. For NICO Holdings (MSW:NICO), the current Cash Flow from Operations is MWK-47,197 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is NICO Holdings (MSW:NICO) Overvalued in 2026?
Based on GuruFocus' analysis, NICO Holdings stock appears to be overvalued.
The current stock price of MWK1,348.83 is trading 6.2% above its estimated GF Value™ of MWK1,270.68.
GuruFocus considers NICO Holdings to be Fairly Valued.
Key valuation signals for MSW:NICO:
Cash Flow from Operations: MWK-47,197 Mil
GF Value™: MWK1,270.68 vs. price of MWK1,348.83 (6.2% above fair value)
No single metric tells the full story. See the MSW:NICO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NICO Holdings PLC is a Malawi-based financial service company that operates in diversified business. Its segments include Life Insurance and Pension, General Insurance business, Banking business, Investment Holding, Asset Management, and Information Technology. Its general insurance segment offers personal and commercial insurance covering motor vehicle, building, road construction, liability, engineering, professional indemnity, marine hull & cargo, fire, and personal accidents throughout Malawi, Zambia, Tanzania, and Uganda. In contrast, life insurance and pension products including Endowment Assurance are offered in Malawi and Mozambique. The majority of the revenue is earned from the Insurance sector. while its Asset Management and Banking segments only operate in Malawi.
79GF Score
Get the complete analysis for MSW:NICO
Cash Flow from Operations is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
MSW:NICO has been successfully added to your 
