SM Entertainment Cash Flow Statement

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

Millions KRW. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	309,969	18,310	87,297	79,989	133,540	-70,156
Depreciation & Amortization	69,251	61,933	58,013	60,842	63,991	71,731
Loss (Gain) From Sale of Assets	167.16	-459.33	-1,452	-12,259	-87,904	79.09
Asset Writedown & Restructuring Costs	67,060	70,675	60,543	3,179	11,791	21,612
Loss (Gain) From Sale of Investments	-6,561	-5,567	-5,349	-896.41	-2,010	77.8
Loss (Gain) on Equity Investments	-221,194	2,377	-45,699	-11,375	-26,336	13,038
Stock-Based Compensation	476.86	734.49	-25.69	16,645	4,168	4,878
Provision & Write-off of Bad Debts	1,662	691.01	-500.75	1,036	3,301	-989.42
Other Operating Activities	-30,683	-19,095	-5,534	-1,866	11,043	30,776
Change in Accounts Receivable	-29,781	3,622	-1,267	-64,431	29,396	-7,904
Change in Inventory	-936.51	-3,467	566.69	-5,384	-2,734	3,040
Change in Accounts Payable	22,477	-3,821	-6,196	43,502	-8,244	-9,668
Change in Unearned Revenue	19,781	6,084	-1,110	7,047	8,341	-5,364
Change in Other Net Operating Assets	12,112	3,659	-26,291	-1,091	-15,785	-5,752
Operating Cash Flow	213,800	135,676	112,995	114,937	122,558	45,399
Operating Cash Flow Growth	166.44%	20.07%	-1.69%	-6.22%	169.96%	-50.63%
Capital Expenditures	-14,719	-24,931	-19,149	-24,054	-22,157	-8,115
Sale of Property, Plant & Equipment	2,468	1,927	659.27	139.86	684.89	426.03
Cash Acquisitions	-46,227	-	-62,023	-4,360	-9,857	-
Divestitures	-	-	652.13	342.81	23,893	-
Sale (Purchase) of Intangibles	-23,096	-26,048	-31,707	-25,521	-21,513	-32,441
Investment in Securities	-2,716	89,486	26,606	-84,901	-89,304	-1,681
Other Investing Activities	-3,189	16,277	2,938	15,632	34,519	-1,334
Investing Cash Flow	-83,172	55,715	-83,060	-121,820	-82,622	-42,544
Short-Term Debt Issued	-	3,180	39,658	1,910	11,156	3,009
Long-Term Debt Issued	-	14,500	-	9,975	-	-
Total Debt Issued	43,001	17,680	39,658	11,884	11,156	3,009
Short-Term Debt Repaid	-	-40,406	-1,659	-28.72	-37,223	-18,946
Long-Term Debt Repaid	-	-29,097	-17,259	-16,229	-14,983	-24,261
Total Debt Repaid	-62,711	-69,503	-18,919	-16,258	-52,207	-43,207
Net Debt Issued (Repaid)	-19,710	-51,823	20,740	-4,373	-41,051	-40,198
Issuance of Common Stock	-	-	1,126	2,402	12,061	127.88
Repurchase of Common Stock	-	-46,125	-26,453	-	-	-9,912
Dividends Paid	-12,888	-28,126	-28,373	-4,680	-	-
Other Financing Activities	5,646	-18,372	-9,782	6,053	14,232	66,142
Financing Cash Flow	-26,952	-144,446	-42,742	-598.26	-6,759	16,160
Foreign Exchange Rate Adjustments	3,731	8,270	-1,574	-6,287	596.68	-6,478
Miscellaneous Cash Flow Adjustments	-	-	-0	-	-	-
Net Cash Flow	107,406	55,215	-14,381	-13,768	33,774	12,537
Free Cash Flow	199,080	110,746	93,846	90,883	100,400	37,284
Free Cash Flow Growth	254.10%	18.01%	3.26%	-9.48%	169.29%	-52.50%
Free Cash Flow Margin	17.63%	11.19%	9.77%	10.68%	14.31%	6.43%
Free Cash Flow Per Share	8697.91	4806.55	3997.41	3848.88	4312.85	1595.35
Cash Interest Paid	4,132	4,143	4,770	3,480	4,081	1,749
Cash Income Tax Paid	52,693	29,601	35,159	43,015	31,880	18,449
Levered Free Cash Flow	144,419	78,169	41,337	67,997	77,326	45,358
Unlevered Free Cash Flow	147,630	81,570	44,893	70,719	79,882	48,063
Change in Working Capital	23,653	6,077	-34,297	-20,357	10,975	-25,648

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.