Winston Medical Supply 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	117.29	131.59	158.76	111.26	92.13
Depreciation & Amortization	25.94	28.96	27.47	35.51	35.32
Other Amortization	0.86	0.68	0.51	0.79	0.81
Loss (Gain) From Sale of Assets	0.47	1.11	1.03	-	0.25
Provision & Write-off of Bad Debts	0.01	-0	-0.01	-1.31	1.18
Other Operating Activities	-0.32	-11.65	2.5	11.79	24.17
Change in Accounts Receivable	18.22	-17.2	2.68	7.45	-12.76
Change in Inventory	-1.51	-33.72	-19.31	10.25	1.39
Change in Accounts Payable	-17.97	11.01	8.02	8.46	3.81
Change in Unearned Revenue	19.38	10.23	-0.26	-1.83	-6.32
Change in Other Net Operating Assets	-7.42	27.06	34.06	-57.47	6.5
Operating Cash Flow	154.97	148.09	215.45	124.88	146.46
Operating Cash Flow Growth	4.65%	-31.27%	72.52%	-14.73%	31.06%
Capital Expenditures	-16.49	-17.85	-19.04	-6.39	-5.05
Sale (Purchase) of Intangibles	-0.78	-1.42	-1.01	-0.16	-0.08
Other Investing Activities	-0.87	1.01	0.16	-2.07	-0.96
Investing Cash Flow	-18.13	-18.26	-19.88	-8.62	-6.1
Short-Term Debt Repaid	-	-	-	-	-65
Long-Term Debt Repaid	-7.9	-7.86	-7.01	-6.04	-10.57
Total Debt Repaid	-7.9	-7.86	-7.01	-6.04	-75.57
Net Debt Issued (Repaid)	-7.9	-7.86	-7.01	-6.04	-75.57
Issuance of Common Stock	-	-	-	-	5
Common Dividends Paid	-128.92	-121.55	-92.09	-73.67	-55.25
Other Financing Activities	-0.66	-	-	3.31	1.92
Financing Cash Flow	-137.48	-129.41	-99.1	-76.39	-123.9
Net Cash Flow	-0.63	0.41	96.47	39.87	16.46
Free Cash Flow	138.49	130.24	196.41	118.49	141.4
Free Cash Flow Growth	6.33%	-33.69%	65.76%	-16.20%	29.92%
Free Cash Flow Margin	19.78%	18.74%	27.70%	19.54%	26.36%
Free Cash Flow Per Share	7.49	7.04	10.62	6.41	7.67
Cash Interest Paid	1.19	1.17	1.53	1.06	1.84
Cash Income Tax Paid	29.16	44.23	37.56	18.35	0.29
Levered Free Cash Flow	111.05	97.36	158.05	92.98	107.11
Unlevered Free Cash Flow	111.79	98.09	159.01	93.64	108.25
Change in Working Capital	10.72	-2.61	25.19	-33.15	-7.39

Source: S&P Global Market Intelligence. Standard template. Financial Sources.