Visual Photonics Epitaxy 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	547.94	671.06	450.23	544.73	855.08
Depreciation & Amortization	290.96	288.2	284.04	243.27	272.32
Stock-Based Compensation	13.02	-	-	-	-
Other Operating Activities	-40.54	44.96	16.21	-107.47	55.11
Change in Accounts Receivable	-137.36	242.28	-333.79	295.91	-120.97
Change in Inventory	-87.46	-114.01	-17.97	-71.14	-43.17
Change in Accounts Payable	54.73	-60.31	221.21	-196.52	55.06
Change in Unearned Revenue	37.15	-10.39	-3.03	4.28	1.06
Change in Other Net Operating Assets	-38.88	24.03	-44.74	-69.55	104.05
Operating Cash Flow	639.57	1,086	572.16	643.52	1,179
Operating Cash Flow Growth	-41.10%	89.77%	-11.09%	-45.40%	38.45%
Capital Expenditures	-361.15	-43.76	-71.12	-417.88	-467.3
Sale (Purchase) of Intangibles	-2.58	-2.96	-2.9	-2.22	-2.56
Investment in Securities	-	-	-	-50	-
Other Investing Activities	-	-	2.79	-	-
Investing Cash Flow	-363.73	-46.72	-71.23	-470.1	-469.86
Short-Term Debt Issued	-	-	-	-	100
Long-Term Debt Issued	1,000	1,900	2,590	1,630	1,280
Total Debt Issued	1,000	1,900	2,590	1,630	1,380
Short-Term Debt Repaid	-	-100	-100	-280	-
Long-Term Debt Repaid	-903.92	-2,104	-2,483	-1,242	-1,482
Total Debt Repaid	-903.92	-2,204	-2,583	-1,522	-1,482
Net Debt Issued (Repaid)	96.08	-303.89	6.69	107.81	-101.64
Issuance of Common Stock	98.8	-	-	-	-
Repurchase of Common Stock	-98.81	-	-	-	-
Common Dividends Paid	-591.7	-406.79	-425.28	-739.62	-478.91
Financing Cash Flow	-495.62	-710.68	-418.6	-631.81	-580.55
Foreign Exchange Rate Adjustments	-11.06	21.59	-9.45	1.14	15.74
Net Cash Flow	-230.84	350	72.88	-457.26	143.85
Free Cash Flow	278.43	1,042	501.04	225.64	711.22
Free Cash Flow Growth	-73.28%	107.98%	122.06%	-68.27%	-5.94%
Free Cash Flow Margin	8.24%	32.15%	18.60%	8.67%	19.71%
Free Cash Flow Per Share	1.50	5.62	2.70	1.21	3.83
Cash Interest Paid	9.11	11.35	13.14	6.63	6.68
Cash Income Tax Paid	171.01	80.08	84.73	229.09	126.76
Levered Free Cash Flow	130.1	844.63	354.25	43.87	528.72
Unlevered Free Cash Flow	135.8	851.62	362.37	47.97	532.89
Change in Working Capital	-171.81	81.61	-178.32	-37.02	-3.98

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