QNAP Systems, Inc. (TPEX:7805)

QNAP Systems Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022
Net Income	1,429	1,352	1,188	1,272	430.19
Depreciation & Amortization	162.85	164.35	173.9	203.13	202.17
Loss (Gain) From Sale of Assets	0.51	-17.99	-0.28	-2.66	-9.61
Loss (Gain) From Sale of Investments	-10.39	-6.44	-4.61	-28.14	-0.16
Loss (Gain) on Equity Investments	-3.68	-7.2	2	11.81	3.68
Stock-Based Compensation	15.77	15.77	5.84	-	-
Provision & Write-off of Bad Debts	22.73	17.02	-15.81	3.96	4.79
Other Operating Activities	20.78	-4.79	-176.02	110.69	-16.91
Change in Accounts Receivable	27.2	-6.92	185.69	-91.93	152.47
Change in Inventory	-701.81	-343.98	-125.25	4.55	1,103
Change in Accounts Payable	126.57	-5.82	137.17	118.28	-322.08
Change in Unearned Revenue	38.11	-12.97	-54.73	5.7	2.11
Change in Other Net Operating Assets	-263.22	-141.57	43.34	126.1	-62.78
Operating Cash Flow	864.9	1,002	1,359	1,733	1,487
Operating Cash Flow Growth	7.84%	-26.28%	-21.60%	16.55%	-

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022
Capital Expenditures	-439.68	-316.32	-131.55	-295.38	-279.27
Sale of Property, Plant & Equipment	0.22	4.77	0.3	4.89	17.45
Divestitures	-	-	-	19.3	-
Sale (Purchase) of Intangibles	-9.81	-17.44	-26.19	-24.28	-29.31
Sale (Purchase) of Real Estate	-3.11	92.76	-	-74.95	-
Investment in Securities	-575.08	48.83	-408.49	86.14	-116.1
Other Investing Activities	-3.35	-4.33	-3.8	-5.82	-0.39
Investing Cash Flow	-1,031	-191.73	-569.74	-290.11	-407.62

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022
Short-Term Debt Issued	-	201	-	8	943
Total Debt Issued	273.04	201	-	8	943
Short-Term Debt Repaid	-	-	-	-8	-1,379
Long-Term Debt Repaid	-	-21.08	-19.4	-16.47	-15.11
Total Debt Repaid	-223.51	-21.08	-19.4	-24.47	-1,394
Net Debt Issued (Repaid)	49.52	179.92	-19.4	-16.47	-451.11
Issuance of Common Stock	1,786	1,786	399.76	-	-
Repurchase of Common Stock	-	-	-14.09	-7.62	-1.79
Common Dividends Paid	-1,200	-1,200	-1,109	-1,111	-277.72
Other Financing Activities	0.13	-9.09	0.89	0.74	3.05
Financing Cash Flow	635.24	756.42	-742.17	-1,134	-727.57

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022
Foreign Exchange Rate Adjustments	20.95	12.61	31.6	-17.47	14.17
Net Cash Flow	490.28	1,579	78.67	291.87	366.22

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022
Free Cash Flow	425.22	685.52	1,227	1,438	1,208
Free Cash Flow Growth	-32.60%	-44.15%	-14.64%	19.04%	-
Free Cash Flow Margin	6.64%	10.97%	20.78%	24.43%	21.37%
Free Cash Flow Per Share	13.58	22.43	40.91	49.28	42.18
Levered Free Cash Flow	1,304	-238.49	769.23	856.74	-
Unlevered Free Cash Flow	1,304	-238.03	769.66	857.08	-

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022
Cash Interest Paid	2.39	2.07	2.85	0.72	3.71
Cash Income Tax Paid	242.47	235.26	304.03	213.74	112.11
Change in Working Capital	-773.14	-511.27	186.21	162.7	873.08

Data Source: S&P Global Market Intelligence Last updated: Mar 31, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Jul 28, 2026

Data Sources Report a data error