Micro-Star International Cash Flow Statement

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

Millions TWD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	5,748	6,793	7,533	9,963	16,921
Depreciation & Amortization	1,392	1,344	1,375	1,403	1,240
Loss (Gain) From Sale of Assets	-59.64	-21.21	-31.56	0.75	-0.86
Asset Writedown & Restructuring Costs	57.5	-	-	-	-
Loss (Gain) From Sale of Investments	215.66	-101.93	142.67	50.06	-125.65
Provision & Write-off of Bad Debts	-17.34	69.81	17.98	46.38	13.42
Other Operating Activities	565.89	-1,240	1,047	-2,630	1,213
Change in Accounts Receivable	-3,377	-3,173	-1,452	10,713	-7,537
Change in Inventory	-10,908	-3,463	-4,100	8,645	-10,457
Change in Accounts Payable	7,709	4,275	-235.47	-9,261	6,753
Change in Unearned Revenue	1,050	1.36	-1,095	841.49	192.77
Change in Other Net Operating Assets	1,625	543.2	1,767	-4,036	4,272
Operating Cash Flow	3,971	5,001	5,008	15,639	12,613
Operating Cash Flow Growth	-20.59%	-0.13%	-67.98%	23.99%	16.52%
Capital Expenditures	-3,553	-2,307	-689.77	-821.22	-1,561
Sale of Property, Plant & Equipment	105.08	73.82	66.46	1.2	2.07
Sale (Purchase) of Real Estate	-	-0.9	-0.2	-0.51	-0.91
Investment in Securities	1,027	-933.13	-11.88	-52.88	625.2
Other Investing Activities	9.71	-14.55	-15.77	31.07	-34.3
Investing Cash Flow	-2,411	-3,182	-651.17	-842.34	-968.64
Short-Term Debt Issued	4,500	-	-	-	-
Long-Term Debt Issued	6,331	-	-	-	-
Total Debt Issued	10,831	-	-	-	-
Short-Term Debt Repaid	-	-	-	-2,000	-1,000
Long-Term Debt Repaid	-454.41	-376.18	-317.35	-295.6	-256.81
Total Debt Repaid	-454.41	-376.18	-317.35	-2,296	-1,257
Net Debt Issued (Repaid)	10,377	-376.18	-317.35	-2,296	-1,257
Common Dividends Paid	-4,224	-4,562	-5,576	-8,871	-5,154
Other Financing Activities	117.23	79.29	-5.07	31.13	-0.66
Financing Cash Flow	6,270	-4,859	-5,898	-11,135	-6,411
Foreign Exchange Rate Adjustments	212.86	310.35	-161.16	159.19	-164.34
Net Cash Flow	8,043	-2,729	-1,703	3,821	5,069
Free Cash Flow	418.29	2,694	4,318	14,818	11,052
Free Cash Flow Growth	-84.48%	-37.60%	-70.86%	34.07%	12.16%
Free Cash Flow Margin	0.18%	1.36%	2.36%	8.21%	5.48%
Free Cash Flow Per Share	0.49	3.17	5.08	17.33	12.92
Cash Interest Paid	128.71	44.11	27.44	39.63	19.39
Cash Income Tax Paid	722.06	2,952	586.33	4,944	2,496
Levered Free Cash Flow	-799.22	-147.5	2,570	11,856	6,609
Unlevered Free Cash Flow	-714.63	-119.82	2,587	11,880	6,621
Change in Working Capital	-3,930	-1,842	-5,076	6,806	-6,649

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.