M31 Technology 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	70.59	126.92	435.17	379.25	252.64
Depreciation & Amortization	74.75	56.12	42.52	42.28	36.69
Other Amortization	-	7.3	6.53	5.08	3.69
Loss (Gain) From Sale of Assets	0.25	-	-44.12	-	3.48
Loss (Gain) From Sale of Investments	-0.17	-3.97	0.24	5.6	-1.29
Stock-Based Compensation	0.55	7.56	25.96	35.9	9.34
Provision & Write-off of Bad Debts	1.33	25.95	1.54	-	3.67
Other Operating Activities	21.48	-102.41	6.82	-9.11	-26.06
Change in Accounts Receivable	-76.2	97.48	-56.99	-7.15	-67.36
Change in Accounts Payable	0.35	-2.89	2.7	-3.48	2.48
Change in Unearned Revenue	-27.89	3.1	-238.04	177.19	-1.17
Change in Other Net Operating Assets	-38.71	-168.53	59.02	26.03	8.43
Operating Cash Flow	26.32	46.64	241.34	651.57	224.52
Operating Cash Flow Growth	-43.56%	-80.67%	-62.96%	190.21%	-41.78%
Capital Expenditures	-48.22	-80.29	-35.65	-31.08	-533
Sale of Property, Plant & Equipment	-	-	142.97	-	0.01
Sale (Purchase) of Intangibles	-21.3	-13.13	-7.58	-8.32	-3.55
Investment in Securities	120.77	8.93	233.81	-146.42	215.2
Other Investing Activities	-5.3	-8.53	-1.54	0.25	7.56
Investing Cash Flow	45.94	-93.02	332	-185.57	-313.78
Long-Term Debt Issued	-	-	-	-	300
Total Debt Issued	-	-	-	-	300
Long-Term Debt Repaid	-11.04	-8.82	-3.11	-91.03	-213.75
Total Debt Repaid	-11.04	-8.82	-3.11	-91.03	-213.75
Net Debt Issued (Repaid)	-11.04	-8.82	-3.11	-91.03	86.25
Issuance of Common Stock	-	-	-	59.06	28.8
Repurchase of Common Stock	-3.41	-1.65	-2	-1.8	-
Common Dividends Paid	-83.6	-278.73	-253.58	-197.78	-248.86
Other Financing Activities	-0.15	-	-	-	-
Financing Cash Flow	-98.19	-289.2	-258.69	-231.55	-133.81
Foreign Exchange Rate Adjustments	-5.39	15.47	-12.31	4.9	2.73
Net Cash Flow	-31.32	-320.11	302.35	239.36	-220.34
Free Cash Flow	-21.9	-33.65	205.69	620.5	-308.48
Free Cash Flow Growth	-	-	-66.85%	-	-
Free Cash Flow Margin	-1.23%	-2.27%	12.76%	45.62%	-30.49%
Free Cash Flow Per Share	-0.52	-0.81	4.92	14.97	-7.50
Cash Interest Paid	-	1.31	0.34	0.27	1.91
Cash Income Tax Paid	-	82.18	95.84	50.38	52.14
Levered Free Cash Flow	-63.19	-121.02	166.42	378.11	-360.77
Unlevered Free Cash Flow	-62.44	-120.2	166.64	378.27	-359.57
Change in Working Capital	-142.45	-70.84	-233.31	192.58	-57.62

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