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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	131,475	347,213	18,310	87,297	79,989	133,540
Depreciation & Amortization	69,019	67,269	61,933	58,013	60,842	63,991
Loss (Gain) From Sale of Assets	-108.74	-680	-459.33	-1,452	-12,259	-87,904
Asset Writedown & Restructuring Costs	38,907	38,930	70,675	60,543	3,179	11,791
Loss (Gain) From Sale of Investments	1,580	1,742	-5,567	-5,349	-896.41	-2,010
Loss (Gain) on Equity Investments	4,863	-213,952	2,377	-45,699	-11,375	-26,336
Stock-Based Compensation	0.5	197.43	734.49	-25.69	16,645	4,168
Provision & Write-off of Bad Debts	8,370	2,471	691.01	-500.75	1,036	3,301
Other Operating Activities	-1,843	-9,867	-13,838	-5,534	-1,866	11,043
Change in Accounts Receivable	-36,791	-19,872	3,622	-1,267	-64,431	29,396
Change in Inventory	-10,638	-10,097	-8,723	566.69	-5,384	-2,734
Change in Accounts Payable	5,268	1,939	-3,821	-6,196	43,502	-8,244
Change in Unearned Revenue	815.2	18,187	6,084	-1,110	7,047	8,341
Change in Other Net Operating Assets	-31,063	-28,619	3,659	-26,291	-1,091	-15,785
Operating Cash Flow	179,855	194,861	135,676	112,995	114,937	122,558
Operating Cash Flow Growth	19.87%	43.62%	20.07%	-1.69%	-6.22%	169.96%
Capital Expenditures	-9,351	-9,586	-24,931	-19,149	-24,054	-22,157
Sale of Property, Plant & Equipment	941.33	2,416	1,927	659.27	139.86	684.89
Cash Acquisitions	-1,347	-46,227	-	-62,023	-4,360	-9,857
Divestitures	58.13	-	-	652.13	342.81	23,893
Sale (Purchase) of Intangibles	-29,892	-31,624	-26,048	-31,707	-25,521	-21,513
Investment in Securities	-81,307	-68,294	89,486	26,606	-84,901	-89,304
Other Investing Activities	-6,072	-1,817	16,277	2,938	15,632	34,519
Investing Cash Flow	-122,071	-150,026	55,715	-83,060	-121,820	-82,622
Short-Term Debt Issued	-	40,000	3,180	39,658	1,910	11,156
Long-Term Debt Issued	-	-	14,500	-	9,975	-
Total Debt Issued	15,000	40,000	17,680	39,658	11,884	11,156
Short-Term Debt Repaid	-	-40,207	-40,406	-1,659	-28.72	-37,223
Long-Term Debt Repaid	-	-19,771	-29,097	-17,259	-16,229	-14,983
Total Debt Repaid	-60,158	-59,977	-69,503	-18,919	-16,258	-52,207
Net Debt Issued (Repaid)	-45,158	-19,977	-51,823	20,740	-4,373	-41,051
Issuance of Common Stock	-	-	-	1,126	2,402	12,061
Repurchase of Common Stock	-	-	-46,125	-26,453	-	-
Dividends Paid	-13,175	-12,890	-28,126	-28,373	-4,680	-
Other Financing Activities	-1,774	-608.74	-18,372	-9,782	6,053	14,232
Financing Cash Flow	-60,107	-33,476	-144,446	-42,742	-598.26	-6,759
Foreign Exchange Rate Adjustments	-4,030	-5,102	8,270	-1,574	-6,287	596.68
Miscellaneous Cash Flow Adjustments	0	0	0	-0	-	-
Net Cash Flow	-6,352	6,257	55,215	-14,381	-13,768	33,774
Free Cash Flow	170,504	185,275	110,746	93,846	90,883	100,400
Free Cash Flow Growth	32.02%	67.30%	18.01%	3.26%	-9.48%	169.29%
Free Cash Flow Margin	13.95%	15.77%	11.19%	9.77%	10.68%	14.31%
Free Cash Flow Per Share	7446.85	8092.49	4806.55	3997.41	3848.88	4312.85
Cash Interest Paid	4,032	4,006	4,143	4,770	3,480	4,081
Cash Income Tax Paid	53,040	53,078	29,601	35,159	43,015	31,880
Levered Free Cash Flow	140,069	114,434	78,169	41,337	67,997	77,326
Unlevered Free Cash Flow	143,483	117,852	81,570	44,893	70,719	79,882
Change in Working Capital	-72,408	-38,462	820.28	-34,297	-20,357	10,975