Victory Capital JSC Cash Flow Statement

Financials in millions VND. Fiscal year is January - December.

Millions VND. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Jan '24 Jan 1, 2024
Net Income	12,450	-48,131	2,485
Depreciation & Amortization	10,787	19,492	5,220
Other Amortization	98.88	17.21	-
Loss (Gain) From Sale of Assets	-	-2,953	-5,437
Other Operating Activities	-11,441	31,027	62.39
Change in Accounts Receivable	22,391	-183,448	-667.74
Change in Inventory	-52,233	-127,798	-
Change in Accounts Payable	233,905	344,908	3,760
Change in Other Net Operating Assets	692.5	-2,455	367.33
Operating Cash Flow	216,651	30,660	5,790
Operating Cash Flow Growth	606.63%	429.50%	-
Capital Expenditures	-27,418	-136,095	-
Sale of Property, Plant & Equipment	1,893	29,776	239.95
Investment in Securities	-	-68,273	-
Other Investing Activities	14,360	2,021	4,836
Investing Cash Flow	-218,784	-161,304	-15,168
Short-Term Debt Issued	136,437	242,465	-
Total Debt Issued	136,437	242,465	-
Short-Term Debt Repaid	-112,629	-115,329	-
Total Debt Repaid	-112,629	-115,329	-
Net Debt Issued (Repaid)	23,808	127,136	-
Common Dividends Paid	-	-	-12.5
Financing Cash Flow	23,808	127,136	-12.5
Net Cash Flow	21,675	-3,508	-9,390
Free Cash Flow	189,233	-105,436	5,790
Free Cash Flow Margin	38.29%	-39.30%	28.81%
Free Cash Flow Per Share	1892.35	-1066.81	58.26
Cash Interest Paid	4,729	2,526	-
Cash Income Tax Paid	1,991	369.35	-
Levered Free Cash Flow	-26,762	-113,453	-
Unlevered Free Cash Flow	-21,604	-111,874	-
Change in Working Capital	204,756	31,207	3,460

Source: S&P Global Market Intelligence. Standard template. Financial Sources.