Rayzher Industrial 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	302.86	237.29	244.28	373.03	125.13
Depreciation & Amortization	40.68	31.19	31.05	17.87	17.98
Other Amortization	-	6.49	4.59	2.86	2.29
Loss (Gain) From Sale of Assets	0.3	-2.26	-	0.72	-0.25
Stock-Based Compensation	-	10.44	18.46	-	-
Provision & Write-off of Bad Debts	10.42	-	-	-	-
Other Operating Activities	24.67	-20.41	-11.34	50.93	7.59
Change in Accounts Receivable	-91.42	-215.99	-9.72	51.57	-340.98
Change in Inventory	-23.69	49.55	-36.56	-137.62	13.97
Change in Accounts Payable	95.8	198.67	-186.5	-61.8	272.83
Change in Unearned Revenue	4.96	-68.81	-76.88	50.7	74.82
Change in Other Net Operating Assets	9.84	-278.11	6.2	57.51	28.97
Operating Cash Flow	374.41	-51.97	-16.41	405.77	202.35
Operating Cash Flow Growth	-	-	-	100.53%	39.53%
Capital Expenditures	-11.67	-44.17	-43.06	-111.36	-4.08
Sale of Property, Plant & Equipment	-	2.45	-	-	0.29
Sale (Purchase) of Intangibles	-3.48	-7.44	-9.28	-5.99	-4.56
Investment in Securities	-10	-9.95	0.14	33.29	14.17
Other Investing Activities	-1.76	-0.85	0.8	-0.93	53.29
Investing Cash Flow	-26.92	-59.97	-51.4	-84.99	59.1
Short-Term Debt Issued	1,306	-	-	-	-
Total Debt Issued	1,306	-	-	-	-
Short-Term Debt Repaid	-1,306	-	-	-	-193.28
Long-Term Debt Repaid	-14.62	-13.89	-13.08	-6.27	-72.26
Total Debt Repaid	-1,321	-13.89	-13.08	-6.27	-265.54
Net Debt Issued (Repaid)	-14.62	-13.89	-13.08	-6.27	-265.54
Issuance of Common Stock	-	451.24	559.5	-	280.5
Common Dividends Paid	-191.1	-221.2	-252	-105	-
Other Financing Activities	8.17	-	-	-0.11	-0.08
Financing Cash Flow	-197.55	216.15	294.42	-111.38	14.88
Foreign Exchange Rate Adjustments	4.33	-0.11	-	-	-
Net Cash Flow	154.28	104.11	226.61	209.4	276.32
Free Cash Flow	362.74	-96.14	-59.47	294.41	198.26
Free Cash Flow Growth	-	-	-	48.49%	44.19%
Free Cash Flow Margin	14.14%	-4.93%	-3.34%	12.81%	12.76%
Free Cash Flow Per Share	10.41	-2.99	-2.20	13.65	10.36
Cash Interest Paid	2.99	1.05	1.22	0.39	3.02
Cash Income Tax Paid	50	88.3	84.72	43.93	30.05
Levered Free Cash Flow	287.26	-171.81	-121.1	200.12	263.71
Unlevered Free Cash Flow	289.13	-171.15	-120.34	200.36	265.6
Change in Working Capital	-4.52	-314.7	-303.44	-39.64	49.61

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