SK Hynix Inc. (SKHY) Cash Flow Statement
Where SKHY’s cash came from and went, 2025
December 31, 2025 · South Korean won- Cash from operations
- ₩53.37T +79.1% vs 2024
- Capital expenditures
- ₩28.58T 29.4% of revenue
- Free cash flow
- ₩24.79T 25.5% margin
- Returned to shareholders
- ₩1.68T 7% of free cash flow
- Change in cash
- ₩3.72T cash at year-end ₩14.92T
Drawn to scale: where the cash came from and how it was used. Hover for values.
SKHY operating cash flow, capex and free cash flow
SKHY cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | ₩5.55T2016 | ₩53.37T2025 | +28.6%/yr | |
| Capital expenditures | ₩6.49T2016 | ₩28.58T2025 | +17.9%/yr | |
| Free cash flow | −₩937.81B2016 | ₩24.79T2025 | — | |
| Free cash flow margin | −5.5%2016 | 25.5%2025 | +31.0 pts | |
| Operating cash flow / net income | 1.882016 | 1.242025 | −0.64 | |
| Stock-based compensation | ₩813.0M2017 | ₩414.11B2025 | +118.0%/yr | |
| Dividends paid | ₩353.00B2016 | ₩1.68T2025 | +18.9%/yr | |
| Capex / revenue | 37.7%2016 | 29.4%2025 | −8.3 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SKHY cash flow by activity
SKHY net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
SKHY cash flow statement in South Korean won
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | ₩42.92T | ₩19.79T | −₩9.11T | ₩2.23T | ₩9.60T | ₩4.76T | ₩2.01T | ₩15.54T | ₩10.64T | ₩2.95T |
| Depreciation & amortization | ₩13.93T | ₩12.58T | ₩13.67T | ₩14.15T | ₩10.66T | ₩9.77T | ₩8.62T | ₩6.43T | ₩5.03T | ₩4.46T |
| Stock-based compensation | ₩414.11B | ₩104.11B | — | — | ₩2.49B | ₩1.59B | ₩1.74B | ₩1.16B | ₩813.0M | — |
| Change in working capital | −₩2.88T | −₩5.60T | ₩793.79B | −₩2.69T | −₩3.02T | −₩1.65T | ₩270.14B | −₩2.00T | −₩3.19T | −₩1.46T |
| Other non-cash items | −₩1.01T | ₩2.92T | −₩1.08T | ₩1.09T | ₩2.55T | −₩564.47B | −₩4.35T | ₩2.25T | ₩2.21T | −₩402.26B |
| Cash from operating activities | ₩53.37T | ₩29.80T | ₩4.28T | ₩14.78T | ₩19.80T | ₩12.31T | ₩6.55T | ₩22.23T | ₩14.69T | ₩5.55T |
| Investing activities | ||||||||||
| Capital expenditures | −₩28.58T | −₩16.66T | −₩8.33T | −₩19.75T | −₩13.46T | −₩10.87T | −₩14.59T | −₩16.97T | −₩9.91T | −₩6.49T |
| Investments (net) | −₩17.83T | −₩1.52T | ₩134.92B | ₩2.28T | — | — | — | — | — | — |
| Acquisitions & other investing | −₩1.64T | ₩182.27B | ₩855.49B | −₩415.02B | −₩8.93T | −₩971.00B | ₩4.14T | −₩4.46T | −₩2.01T | ₩256.28B |
| Cash from investing activities | −₩48.05T | −₩18.00T | −₩7.33T | −₩17.88T | −₩22.39T | −₩11.84T | −₩10.45T | −₩21.43T | −₩11.92T | −₩6.23T |
| Financing activities | ||||||||||
| Dividends paid | −₩1.68T | −₩826.32B | −₩825.58B | −₩1.68T | −₩800.28B | −₩684.00B | −₩1.03T | −₩706.00B | −₩423.60B | −₩353.00B |
| Share repurchases & issuance (net) | — | — | — | — | — | — | — | −₩1.74T | — | — |
| Net borrowing (repayment) | ₩767.60B | −₩7.38T | ₩6.97T | ₩4.79T | — | — | — | — | — | — |
| Shares issued | ₩65.03B | ₩93.83B | ₩24.57B | ₩11.67B | ₩0 | ₩0 | ₩0 | ₩0 | ₩0 | ₩0 |
| Other financing | −₩596.47B | −₩595.79B | −₩470.69B | −₩304.94B | ₩5.29T | ₩936.06B | ₩4.86T | ₩1.05T | ₩71.69B | ₩469.88B |
| Cash from financing activities | −₩1.44T | −₩8.70T | ₩5.70T | ₩2.82T | ₩4.49T | ₩252.05B | ₩3.84T | −₩1.40T | −₩351.91B | ₩116.88B |
| Summary | ||||||||||
| Net change in cash | ₩3.72T | ₩3.62T | ₩2.61T | −₩80.97B | ₩2.08T | ₩669.92B | −₩43.25B | −₩600.67B | ₩2.34T | −₩561.93B |
| Cash at end of period | ₩14.92T | ₩11.21T | ₩7.59T | ₩4.98T | ₩5.06T | ₩2.98T | ₩2.31T | ₩2.35T | ₩2.95T | ₩613.79B |
| Free cash flow | ₩24.79T | ₩13.13T | −₩4.05T | −₩4.97T | ₩6.34T | ₩1.45T | −₩8.04T | ₩5.26T | ₩4.78T | −₩937.81B |
| Free cash flow margin | 25.5% | 19.8% | −12.4% | −11.1% | 14.7% | 4.5% | −29.8% | 13.0% | 15.9% | −5.5% |
| Capex / revenue | 29.4% | 25.2% | 25.4% | 44.3% | 31.3% | 34.1% | 54.1% | 42.0% | 32.9% | 37.7% |
| Operating cash flow / net income | 1.24 | 1.51 | — | 6.63 | 2.06 | 2.59 | 3.27 | 1.43 | 1.38 | 1.88 |
| 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 | ₩93.92T | ₩40.35T | ₩15.22T | ₩12.60T | ₩7.00T | ₩8.11T | ₩8.00T | ₩5.75T | ₩4.12T | ₩1.92T | −₩1.36T | −₩2.18T |
| Depreciation & amortization | ₩4.03T | ₩3.73T | ₩3.57T | ₩3.56T | ₩3.47T | ₩3.35T | ₩3.17T | ₩3.08T | ₩3.13T | ₩3.19T | ₩3.24T | ₩3.33T |
| Stock-based compensation | ₩53.64B | ₩21.00B | — | — | ₩6.07B | ₩200.24B | — | — | — | — | — | — |
| Change in working capital | −₩6.15T | −₩16.26T | −₩2.37T | ₩739.12B | −₩1.06T | −₩189.83B | −₩731.94B | −₩1.55T | −₩2.78T | −₩538.79B | ₩953.41B | ₩33.73B |
| Other non-cash items | −₩26.45T | −₩1.50T | ₩4.44T | −₩2.57T | −₩246.01B | −₩2.44T | ₩579.21B | ₩477.30B | ₩1.19T | ₩781.83B | ₩1.12T | −₩163.25B |
| Cash from operating activities | ₩65.41T | ₩26.33T | ₩20.86T | ₩14.32T | ₩9.17T | ₩9.02T | ₩11.02T | ₩7.76T | ₩5.66T | ₩5.36T | ₩3.95T | ₩1.02T |
| Investing activities | ||||||||||||
| Capital expenditures | −₩10.67T | −₩7.87T | −₩12.25T | −₩5.26T | −₩4.62T | −₩6.45T | −₩7.46T | −₩3.77T | −₩2.06T | −₩3.21T | −₩1.83T | −₩1.60T |
| Investments (net) | −₩36.25T | −₩13.91T | −₩3.87T | −₩9.09T | −₩6.12T | ₩1.25T | — | — | — | — | — | — |
| Acquisitions & other investing | −₩8.47T | ₩4.14T | ₩976.18B | ₩104.78B | ₩292.91B | −₩3.02T | −₩1.14T | ₩157.61B | ₩87.33B | −₩588.58B | ₩201.40B | ₩1.26T |
| Cash from investing activities | −₩55.39T | −₩17.63T | −₩15.14T | −₩14.24T | −₩10.45T | −₩8.22T | −₩8.61T | −₩3.62T | −₩1.98T | −₩3.80T | −₩1.63T | −₩343.99B |
| Financing activities | ||||||||||||
| Dividends paid | −₩1.59T | — | −₩263.13B | −₩258.92B | — | — | −₩206.71B | −₩206.59B | −₩413.03B | — | −₩206.44B | −₩206.43B |
| Net borrowing (repayment) | −₩3.03T | −₩2.75T | −₩1.15T | ₩1.76T | −₩483.55B | ₩644.93B | — | — | — | — | — | — |
| Shares issued | ₩13.55B | ₩7.78B | ₩14.37B | ₩22.11B | ₩12.94B | ₩15.62B | ₩0 | ₩0 | ₩0 | ₩0 | ₩0 | ₩0 |
| Other financing | −₩53.77B | −₩205.47B | −₩149.52B | −₩145.22B | −₩1.31T | −₩151.66B | −₩728.21B | −₩2.53T | −₩3.71T | −₩909.67B | −₩1.51T | ₩546.88B |
| Cash from financing activities | −₩4.67T | −₩2.95T | −₩1.55T | ₩1.37T | −₩1.78T | ₩508.89B | −₩934.92B | −₩2.74T | −₩4.12T | −₩909.67B | −₩1.72T | ₩340.46B |
| Summary | ||||||||||||
| Net change in cash | ₩5.67T | ₩6.24T | ₩4.11T | ₩1.74T | −₩3.48T | ₩1.35T | ₩2.07T | ₩1.20T | −₩447.57B | ₩794.07B | ₩465.02B | ₩1.08T |
| Cash at end of period | ₩26.84T | ₩21.17T | ₩14.92T | ₩10.81T | ₩9.08T | ₩12.56T | ₩11.21T | ₩9.14T | ₩7.93T | ₩8.38T | ₩7.59T | ₩7.12T |
| Free cash flow | ₩55.04T | ₩18.46T | ₩8.62T | ₩9.06T | ₩4.54T | ₩2.57T | ₩3.56T | ₩3.98T | ₩3.60T | ₩2.15T | ₩2.13T | −₩585.12B |
| Free cash flow margin | 69.4% | 35.1% | 26.2% | 37.1% | 20.4% | 14.6% | 18.0% | 22.7% | 21.9% | 17.3% | 18.8% | −6.5% |
| Capex / revenue | 13.5% | 15.0% | 37.3% | 21.5% | 20.8% | 36.6% | 37.8% | 21.5% | 12.6% | 25.8% | 16.2% | 17.7% |
| Operating cash flow / net income | 0.70 | 0.65 | 1.37 | 1.14 | 1.31 | 1.11 | 1.38 | 1.35 | 1.37 | 2.79 | — | — |
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.
SKHY cash generation
In fiscal 2025 (ended December 31, 2025), SK Hynix Inc. generated ₩53.37 trillion of cash from operations (up 79.1%) and spent ₩28.58 trillion on capital expenditures, leaving free cash flow of ₩24.79 trillion, 25.5% of revenue. It returned ₩1.68 trillion to shareholders through dividends (₩1.68 trillion) and net share buybacks (₩0). Cash and equivalents rose by ₩3.72 trillion over the year.
Related: SKHY income statement, SKHY balance sheet. See the SKHY stock overview for the latest quote and news.
SKHY cash flow FAQ
What is SK Hynix Inc.'s free cash flow?
SK Hynix Inc.'s free cash flow was ₩24.79 trillion in fiscal 2025: ₩53.37 trillion of operating cash flow minus ₩28.58 trillion of capital expenditures It was ₩13.13 trillion a year earlier..
How much cash does SK Hynix Inc. generate from operations?
SK Hynix Inc. generated ₩53.37 trillion of cash from operating activities in fiscal 2025, 1.24 times its net income of ₩42.92 trillion.
How much does SK Hynix Inc. spend on capital expenditures?
SK Hynix Inc. spent ₩28.58 trillion on capital expenditures in fiscal 2025, 29.4% of revenue, compared with ₩16.66 trillion the year before.
How much does SK Hynix Inc. pay in dividends?
SK Hynix Inc. paid ₩1.68 trillion in dividends in fiscal 2025, 6.8% of free cash flow.