Hermes Testing Solutions 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Net Income	268.35	56.78	-210.41
Depreciation & Amortization	259.54	226.05	214.65
Loss (Gain) From Sale of Assets	-3.62	0.19	-25.47
Stock-Based Compensation	19.2	19.28	16.53
Provision & Write-off of Bad Debts	2.83	-3.89	0.79
Other Operating Activities	53.3	-4.09	3.09
Change in Accounts Receivable	-214.6	-134.82	-6.33
Change in Inventory	-8.2	-120.65	93.3
Change in Accounts Payable	157.39	1.39	-9.77
Change in Unearned Revenue	-60.27	53.82	8.18
Change in Other Net Operating Assets	127.58	23.32	6.06
Operating Cash Flow	601.51	117.39	90.61
Operating Cash Flow Growth	412.42%	29.55%	-
Capital Expenditures	-129.48	-157.21	-141.99
Sale of Property, Plant & Equipment	7.89	-	26.54
Sale (Purchase) of Intangibles	-19.72	-18.74	-10.27
Investment in Securities	16.64	-29.29	-
Other Investing Activities	-0.26	-0.74	-1.84
Investing Cash Flow	-124.93	-205.98	-127.57
Short-Term Debt Issued	4,766	9,240	7,480
Long-Term Debt Issued	-	125.19	-
Total Debt Issued	4,766	9,366	7,480
Short-Term Debt Repaid	-5,291	-9,225	-7,480
Long-Term Debt Repaid	-61.44	-53.38	-38.53
Total Debt Repaid	-5,353	-9,278	-7,519
Net Debt Issued (Repaid)	-586.88	87.25	-38.53
Issuance of Common Stock	633.34	29.87	7.38
Financing Cash Flow	46.46	117.12	-31.15
Foreign Exchange Rate Adjustments	4	-1.6	0.77
Net Cash Flow	527.04	26.93	-67.33
Free Cash Flow	472.03	-39.82	-51.38
Free Cash Flow Margin	19.47%	-2.49%	-6.35%
Free Cash Flow Per Share	18.73	-1.90	-2.57
Cash Interest Paid	15.7	12.65	9.44
Cash Income Tax Paid	0.36	5.15	0.31
Levered Free Cash Flow	362.54	-56.72	-
Unlevered Free Cash Flow	372.27	-48.15	-
Change in Working Capital	1.9	-176.94	91.44