KT Corporation (KT) Cash Flow Statement
Where KT’s cash came from and went, 2025
December 31, 2025 · South Korean won- Cash from operations
- ₩5.01T −1.1% vs 2024
- Capital expenditures
- ₩3.65T 12.9% of revenue
- Free cash flow
- ₩1.36T 4.8% margin
- Returned to shareholders
- ₩839.03B 62% of free cash flow
- Change in cash
- −₩129.92B cash at year-end ₩3.51T
Cash from operations
₩5.01T
Capital expenditures
−₩3.65T
Investments (net)
−₩696.28B
Acquisitions & other
−₩222.11B
Dividends
−₩585.64B
Share buybacks (net)
−₩253.39B
Other financing
+₩169.15B
Currency & other
+₩95.13B
Change in cash
−₩129.92B
Drawn to scale: where the cash came from and how it was used. Hover for values.
KT operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
KT cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | ₩4.77T2016 | ₩5.01T2025 | +0.5%/yr | |
| Capital expenditures | ₩3.22T2016 | ₩3.65T2025 | +1.4%/yr | |
| Free cash flow | ₩1.55T2016 | ₩1.36T2025 | −1.4%/yr | |
| Free cash flow margin | 6.8%2016 | 4.8%2025 | −2.0 pts | |
| Operating cash flow / net income | 5.982016 | 2.752025 | −3.23 | |
| Stock-based compensation | ₩7.71B2016 | ₩7.13B2024 | −1.0%/yr | |
| Dividends paid | ₩184.10B2016 | ₩585.64B2025 | +13.7%/yr | |
| Share buybacks (net) | ₩02016 | ₩253.39B2025 | — | |
| Capex / revenue | 14.1%2016 | 12.9%2025 | −1.2 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
KT cash flow by activity
OperatingInvestingFinancingChange in cash
KT net income vs operating cash flow
Net incomeOperating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
KT cash flow statement in South Korean won
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | ₩1.82T | ₩406.67B | ₩972.18B | ₩1.39T | ₩1.46T | ₩703.39B | ₩669.35B | ₩762.30B | ₩561.53B | ₩797.84B |
| Depreciation & amortization | ₩3.94T | ₩3.93T | ₩3.87T | ₩3.71T | ₩3.65T | ₩3.67T | ₩3.68T | ₩3.36T | ₩3.44T | ₩3.42T |
| Stock-based compensation | — | ₩7.13B | ₩15.45B | ₩16.80B | −₩148.16B | ₩675.76B | ₩158.74B | ₩8.44B | ₩7.66B | ₩7.71B |
| Change in working capital | −₩1.80T | ₩644.13B | ₩99.90B | −₩1.46T | ₩273.00B | −₩413.89B | −₩1.01T | −₩468.76B | −₩295.90B | −₩4.11B |
| Other non-cash items | ₩1.05T | ₩78.31B | ₩547.96B | −₩62.23B | ₩330.24B | ₩106.93B | ₩247.25B | ₩343.54B | ₩166.78B | ₩547.81B |
| Cash from operating activities | ₩5.01T | ₩5.07T | ₩5.50T | ₩3.60T | ₩5.56T | ₩4.74T | ₩3.75T | ₩4.01T | ₩3.88T | ₩4.77T |
| Investing activities | ||||||||||
| Capital expenditures | −₩3.65T | −₩2.91T | −₩4.17T | −₩3.99T | −₩4.25T | −₩3.72T | −₩3.80T | −₩3.01T | −₩3.06T | −₩3.22T |
| Investments (net) | −₩696.28B | −₩2.85T | −₩4.47T | −₩4.84T | −₩441.15B | −₩3.76T | −₩3.89T | −₩2.70T | −₩3.48T | −₩3.48T |
| Acquisitions & other investing | −₩222.11B | ₩2.91T | ₩4.02T | ₩3.99T | −₩444.86B | ₩3.72T | ₩3.80T | ₩3.01T | ₩3.06T | ₩3.22T |
| Cash from investing activities | −₩4.56T | −₩2.85T | −₩4.62T | −₩4.84T | −₩5.14T | −₩3.76T | −₩3.89T | −₩2.70T | −₩3.48T | −₩3.48T |
| Financing activities | ||||||||||
| Dividends paid | −₩585.64B | −₩872.35B | −₩526.83B | −₩476.80B | −₩350.33B | −₩310.57B | −₩305.16B | −₩298.63B | −₩243.14B | −₩184.10B |
| Share repurchases & issuance (net) | −₩253.39B | −₩59.22B | −₩300.09B | −₩942.0M | −₩193.63B | −₩114.68B | −₩122.92B | −₩24.41B | ₩0 | ₩0 |
| Net borrowing (repayment) | ₩14.20B | −₩549.40B | −₩300.93B | ₩1.01T | ₩505.83B | −₩279.92B | ₩88.73B | −₩213.60B | −₩1.24T | −₩721.63B |
| Shares issued | ₩0 | ₩0 | ₩0 | ₩0 | ₩0 | ₩0 | ₩0 | ₩0 | ₩0 | ₩0 |
| Other financing | ₩169.15B | ₩90.92B | ₩675.05B | ₩134.44B | −₩3.15B | ₩57.58B | ₩89.60B | ₩4.97B | ₩115.29B | −₩37.54B |
| Cash from financing activities | −₩655.68B | −₩1.39T | −₩452.79B | ₩669.33B | −₩41.28B | −₩647.59B | −₩249.75B | −₩531.67B | −₩1.36T | −₩943.27B |
| Summary | ||||||||||
| Net change in cash | −₩129.92B | ₩837.13B | ₩430.49B | −₩570.53B | ₩384.97B | ₩328.73B | −₩397.53B | ₩775.24B | −₩972.13B | ₩340.85B |
| Cash at end of period | ₩3.51T | ₩3.72T | ₩2.88T | ₩2.45T | ₩3.02T | ₩2.63T | ₩2.31T | ₩2.70T | ₩1.93T | ₩2.90T |
| Free cash flow | ₩1.36T | ₩2.16T | ₩1.33T | −₩390.07B | ₩1.31T | ₩1.02T | −₩55.18B | ₩1.00T | ₩821.97B | ₩1.55T |
| Free cash flow margin | 4.8% | 8.2% | 5.1% | −1.5% | 5.3% | 4.2% | −0.2% | 4.3% | 3.5% | 6.8% |
| Capex / revenue | 12.9% | 11.0% | 15.9% | 15.6% | 17.1% | 15.5% | 15.4% | 13.0% | 13.1% | 14.1% |
| Operating cash flow / net income | 2.75 | 12.46 | 5.66 | 2.59 | 3.81 | 6.74 | 5.60 | 5.26 | 6.91 | 5.98 |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | ₩440.10B | ₩388.32B | ₩110.86B | ₩445.25B | ₩733.28B | ₩566.80B | −₩655.61B | ₩383.17B | ₩449.51B | ₩393.00B | ₩54.13B | ₩264.29B |
| Depreciation & amortization | ₩945.17B | ₩973.71B | ₩964.97B | ₩981.72B | ₩991.00B | ₩982.75B | ₩983.52B | ₩978.80B | ₩979.11B | ₩988.12B | ₩1.01T | ₩886.19B |
| Stock-based compensation | — | — | — | ₩2.92B | — | ₩7.13B | ₩7.13B | — | ₩929.0M | ₩15.45B | ₩15.45B | ₩3.01B |
| Change in working capital | −₩201.71B | −₩841.05B | −₩541.73B | −₩493.48B | ₩98.20B | −₩828.99B | ₩351.10B | −₩550.80B | ₩498.19B | −₩326.32B | −₩396.58B | −₩570.41B |
| Other non-cash items | ₩386.43B | ₩148.60B | ₩417.96B | ₩327.48B | ₩233.56B | −₩97.44B | −₩20.39B | ₩352.56B | ₩194.31B | ₩44.02B | ₩353.38B | ₩1.20T |
| Cash from operating activities | ₩1.57T | ₩669.59B | ₩952.06B | ₩1.26T | ₩2.06T | ₩630.25B | ₩665.74B | ₩1.16T | ₩2.12T | ₩1.11T | ₩1.04T | ₩1.79T |
| Investing activities | ||||||||||||
| Capital expenditures | −₩641.90B | −₩575.86B | −₩869.24B | −₩734.17B | −₩696.74B | −₩1.68T | −₩871.78B | −₩875.74B | −₩643.70B | −₩874.67B | −₩1.16T | −₩852.78B |
| Investments (net) | ₩121.16B | −₩311.70B | −₩430.66B | −₩78.76B | −₩695.60B | −₩1.72T | −₩1.11T | −₩570.10B | −₩658.94B | −₩509.10B | −₩1.15T | −₩452.71B |
| Acquisitions & other investing | −₩289.16B | −₩316.97B | ₩9.31B | ₩46.17B | ₩696.74B | ₩1.68T | −₩866.35B | ₩875.74B | ₩810.11B | ₩708.26B | — | −₩2.17T |
| Cash from investing activities | −₩809.90B | −₩1.20T | −₩1.29T | −₩766.75B | −₩695.60B | −₩1.72T | −₩2.85T | −₩570.10B | −₩492.53B | −₩675.51B | — | −₩3.47T |
| Financing activities | ||||||||||||
| Dividends paid | −₩326.12B | −₩144.66B | −₩140.76B | −₩144.76B | −₩288.39B | −₩122.97B | −₩122.97B | −₩122.95B | −₩626.41B | −₩15.0M | −₩18.0M | −₩540.0M |
| Share repurchases & issuance (net) | −₩159.11B | ₩3.26B | ₩3.26B | −₩50.63B | −₩152.18B | −₩47.20B | −₩32.12B | −₩27.10B | ₩0 | −₩27.10B | −₩7.99B | −₩300.09B |
| Net borrowing (repayment) | −₩72.02B | −₩129.72B | ₩74.49B | −₩342.42B | −₩267.04B | ₩549.16B | ₩231.34B | −₩298.73B | — | — | — | ₩139.50B |
| Shares issued | ₩0 | ₩0 | ₩0 | ₩0 | ₩0 | ₩0 | ₩0 | ₩0 | ₩0 | ₩0 | ₩0 | ₩0 |
| Other financing | −₩1.40B | ₩137.15B | ₩11.12B | ₩133.70B | ₩12.82B | ₩129.59B | ₩121.09B | ₩25.65B | −₩218.40B | −₩292.32B | −₩83.06B | ₩980.40B |
| Cash from financing activities | −₩558.66B | −₩133.97B | −₩51.89B | −₩404.10B | −₩694.78B | ₩508.59B | ₩197.34B | −₩423.14B | −₩844.82B | −₩319.43B | −₩91.07B | ₩819.27B |
| Summary | ||||||||||||
| Net change in cash | ₩155.10B | −₩855.94B | −₩487.28B | ₩95.89B | ₩661.41B | −₩583.68B | −₩237.21B | ₩167.17B | ₩786.04B | ₩121.13B | −₩230.82B | ₩1.30T |
| Cash at end of period | ₩3.02T | ₩2.82T | ₩3.51T | ₩3.89T | ₩3.79T | ₩3.13T | ₩3.72T | ₩3.95T | ₩3.79T | ₩3.00T | ₩2.88T | ₩3.11T |
| Free cash flow | ₩928.08B | ₩93.74B | ₩82.83B | ₩529.72B | ₩1.36T | −₩1.05T | −₩206.04B | ₩287.98B | ₩1.48T | ₩239.59B | −₩117.21B | ₩933.01B |
| Free cash flow margin | 13.9% | 1.4% | 1.2% | 7.4% | 25,649.6% | −15.3% | −3.1% | 4.3% | 22.6% | 3.6% | −1.7% | 13.9% |
| Capex / revenue | 9.6% | 8.5% | 12.8% | 10.3% | 13,147.4% | 24.5% | 13.3% | 13.2% | 9.8% | 13.1% | 17.3% | 12.7% |
| Operating cash flow / net income | 3.57 | 1.72 | 8.59 | 2.84 | 2.80 | 1.11 | — | 3.04 | 4.72 | 2.84 | 19.21 | 6.76 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in South Korean won as reported; data from EODHD.
KT cash generation
In fiscal 2025 (ended December 31, 2025), KT generated ₩5.01 trillion of cash from operations (down 1.1%) and spent ₩3.65 trillion on capital expenditures, leaving free cash flow of ₩1.36 trillion, 4.8% of revenue. It returned ₩839.0 billion to shareholders through dividends (₩585.6 billion) and net share buybacks (₩253.4 billion). Cash and equivalents fell by ₩129.9 billion over the year.
Related: KT income statement, KT balance sheet, KT dividend history. See the KT stock overview for the latest quote and news.
KT cash flow FAQ
What is KT's free cash flow?
KT's free cash flow was ₩1.36 trillion in fiscal 2025: ₩5.01 trillion of operating cash flow minus ₩3.65 trillion of capital expenditures It was ₩2.16 trillion a year earlier..
How much cash does KT generate from operations?
KT generated ₩5.01 trillion of cash from operating activities in fiscal 2025, 2.75 times its net income of ₩1.82 trillion.
How much does KT spend on capital expenditures?
KT spent ₩3.65 trillion on capital expenditures in fiscal 2025, 12.9% of revenue, compared with ₩2.91 trillion the year before.
How much stock does KT buy back?
KT spent ₩253.4 billion on net share repurchases in fiscal 2025.
How much does KT pay in dividends?
KT paid ₩585.6 billion in dividends in fiscal 2025, 43.0% of free cash flow.