MegaStudyEdu Co. 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	86,448	85,268	46,173	94,606	103,598	81,162
Depreciation & Amortization	73,436	73,333	81,556	77,797	71,899	61,598
Loss (Gain) From Sale of Assets	2,371	2,630	1,174	1,379	942.03	416.03
Asset Writedown & Restructuring Costs	7,263	7,263	54,180	2,142	2,741	2,491
Loss (Gain) From Sale of Investments	952.87	2,164	-515.75	1,104	-279.04	-10,385
Loss (Gain) on Equity Investments	-1,216	-1,182	3,045	-672.22	-21.6	128.56
Stock-Based Compensation	369.23	287.11	70.81	571.97	111.91	-
Provision & Write-off of Bad Debts	549.65	549.55	16.28	25.18	19.22	25.74
Other Operating Activities	6,719	6,372	1,092	-6,642	1,479	30,951
Change in Accounts Receivable	-5,319	6,854	3,154	-3,756	-9,046	-12,291
Change in Inventory	9,589	27,084	-41,759	-5,304	-8,703	-4,019
Change in Accounts Payable	-4,535	-30,534	37,698	-2,071	2,842	13,904
Change in Unearned Revenue	4,497	582.9	-11,361	5,096	18,026	44,769
Change in Other Net Operating Assets	-12,394	-26,792	-99.17	4,322	-18,644	-16,348
Operating Cash Flow	168,731	153,879	174,424	168,598	164,964	192,403
Operating Cash Flow Growth	7.19%	-11.78%	3.46%	2.20%	-14.26%	99.10%
Capital Expenditures	-14,380	-16,203	-25,888	-55,689	-88,687	-27,500
Sale of Property, Plant & Equipment	236.2	207.68	4,048	460.46	156.47	63.96
Cash Acquisitions	-0	-1,518	-1,042	73.18	-2,117	0.13
Divestitures	-	-	2,911	-	-	300
Sale (Purchase) of Intangibles	-15,677	-28,098	-19,318	-25,976	-11,593	-7,991
Investment in Securities	-19,017	-49,328	-6,507	-11,204	43,940	-66,191
Other Investing Activities	16,054	19,759	79,003	-11,476	-184,241	-4,696
Investing Cash Flow	-27,027	-67,671	11,808	-103,962	-242,482	-107,330
Short-Term Debt Issued	-	120,064	104,087	570,502	108,894	13,997
Long-Term Debt Issued	-	-	-	-	-	500
Total Debt Issued	119,266	120,064	104,087	570,502	108,894	14,497
Short-Term Debt Repaid	-	-121,822	-147,524	-559,521	-78,007	-12,427
Long-Term Debt Repaid	-	-32,184	-34,578	-33,227	-29,968	-27,029
Total Debt Repaid	-154,850	-154,006	-182,102	-592,748	-107,975	-39,456
Net Debt Issued (Repaid)	-35,584	-33,942	-78,015	-22,247	919.65	-24,958
Issuance of Common Stock	-	-	-	194.25	-	150.63
Repurchase of Common Stock	-20,000	-20,000	-49,283	-11,186	-	-
Dividends Paid	-16,693	-16,693	-23,557	-24,741	-23,563	-8,824
Other Financing Activities	-586.2	-3,343	1,661	-1,750	-102.11	2,033
Financing Cash Flow	-72,864	-73,978	-149,194	-59,529	-22,745	-31,598
Foreign Exchange Rate Adjustments	-344.38	-307.75	445.07	-156.32	-20.04	-
Miscellaneous Cash Flow Adjustments	-0	-0	-	-0	-	-
Net Cash Flow	68,495	11,923	37,483	4,951	-100,283	53,474
Free Cash Flow	154,350	137,677	148,536	112,908	76,277	164,903
Free Cash Flow Growth	16.78%	-7.31%	31.55%	48.02%	-53.74%	105.54%
Free Cash Flow Margin	17.46%	15.56%	15.76%	12.07%	9.13%	23.43%
Free Cash Flow Per Share	14754.59	13034.02	13507.53	9688.02	6474.38	13997.98
Cash Interest Paid	5,009	3,655	4,146	5,996	3,593	2,554
Cash Income Tax Paid	30,751	30,736	30,602	43,271	34,467	2,964
Levered Free Cash Flow	130,598	86,757	165,808	-24,812	75,542	157,955
Unlevered Free Cash Flow	133,036	89,155	168,476	-21,171	77,674	159,614
Change in Working Capital	-8,162	-22,804	-12,367	-1,714	-15,525	26,015