Cash flow Tigerair Taiwan Co., Ltd.

Equities

6757

TW0006757008

Airlines

End-of-day quote Taiwan S.E. Other stock markets 17/04/2026			5-day change	1st Jan Change
49.60 ^TWD	-1.00%		+0.40%	-23.10%

03-16	Tigerair Taiwan Co., Ltd. Reports Earnings Results for the Full Year Ended December 31, 2025	CI
03-10	Boeing increases jet deliveries in February despite ongoing 787 seat headaches	RE

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Published financial data: TIGERAIR TAIWAN CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	244M	1.31B	12.47B	16.42B	16.9B
Total Revenues	244M	1.31B	12.47B	16.42B	16.9B
Cost of Goods Sold, Total	2.69B	3.69B	9.03B	11.28B	12.22B
Gross Profit	-2.45B	-2.38B	3.44B	5.14B	4.68B
Selling General & Admin Expenses, Total	329M	428M	1.07B	1.47B	1.47B
Provision for Bad Debts	160K	-7K	-	32K	59K
Other Operating Expenses, Total	329M	428M	1.07B	1.47B	1.47B
Operating Income	-2.78B	-2.81B	2.37B	3.67B	3.21B
Interest Expense, Total	-203M	-240M	-244M	-298M	-331M
Interest And Investment Income	6.6M	26.62M	134M	316M	395M
Net Interest Expenses	-197M	-214M	-109M	18.17M	64.16M
Currency Exchange Gains (Loss)	100M	-582M	-11.03M	-227M	-226M
Other Non Operating Income (Expenses)	54.5M	26M	40.03M	39.29M	45.29M
EBT, Excl. Unusual Items	-2.82B	-3.58B	2.29B	3.51B	3.09B
Gain (Loss) On Sale Of Assets	-	-	-	-	-4.06M
EBT, Incl. Unusual Items	-2.82B	-3.58B	2.29B	3.51B	3.09B
Income Tax Expense	-552M	-727M	461M	734M	620M
Earnings From Continuing Operations	-2.27B	-2.85B	1.83B	2.77B	2.47B
Net Income to Company	-2.27B	-2.85B	1.83B	2.77B	2.47B
Net Income - (IS)	-2.27B	-2.85B	1.83B	2.77B	2.47B
Net Income to Common Incl Extra Items	-2.27B	-2.85B	1.83B	2.77B	2.47B
Net Income to Common Excl. Extra Items	-2.27B	-2.85B	1.83B	2.77B	2.47B
Per Share Items
Net EPS - Basic	-7.19	-7.12	4.27	6.16	5.37
Basic EPS - Continuing Operations	-7.19	-7.12	4.27	6.16	5.37
Basic Weighted Average Shares Outstanding	316M	400M	428M	450M	460M
Net EPS - Diluted	-7.19	-7.12	4.26	6.15	5.36
Diluted EPS - Continuing Operations	-7.19	-7.12	4.26	6.15	5.36
Diluted Weighted Average Shares Outstanding	316M	400M	429M	451M	460M
Normalized Basic EPS	-5.58	-5.59	3.34	4.87	4.2
Normalized Diluted EPS	-5.58	-5.59	3.34	4.86	4.2
Dividend Per Share	-	-	-	6.05	-
Payout Ratio	-	-	-	-	112.69
Supplemental Items
EBITDA	-2.6B	-2.58B	2.58B	3.85B	3.51B
EBITA	-2.77B	-2.79B	2.38B	3.69B	3.22B
EBIT	-2.78B	-2.81B	2.37B	3.67B	3.21B
EBITDAR	-2.59B	-2.58B	2.6B	3.86B	3.52B
Effective Tax Rate - (Ratio)	19.56	20.32	20.16	20.93	20.07
Current Foreign Taxes	-	-	-	-	-
Total Current Taxes	12K	1K	1.28M	-310K	567M
Deferred Foreign Taxes	-	-	-	-	-
Total Deferred Taxes	-552M	-727M	460M	734M	52.92M
Normalized Net Income	-1.76B	-2.24B	1.43B	2.19B	1.93B
Interest on Long-Term Debt	168M	195M	210M	292M	328M
Non-Cash Pension Expense	3.38M	3.66M	3.21M	3.7M	6.1M
Supplemental Operating Expense Items
Advertising Expense	28.14M	38.49M	67.6M	117M	103M
Selling and Marketing Expenses	155M	204M	448M	573M	627M
General and Administrative Expenses	173M	224M	621M	895M	841M
Net Rental Expense, Total	7.68M	4.73M	24.45M	5.71M	13.82M
Imputed Operating Lease Interest Expense	1.47M	926K	4.91M	1.6M	4.12M
Imputed Operating Lease Depreciation	6.2M	3.8M	19.54M	4.11M	9.69M
Maintenance & Repair Expenses, Total	589M	764M	1.13B	1.49B	1.97B
Stock-Based Comp., Other (Total)	667K	-	29.28M	61.21M	-
Total Stock-Based Compensation	667K	-	29.28M	61.21M	-

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	3.33B	2.86B	5.39B	11.53B	10.8B
Short Term Investments	553K	-	-	-	-
Total Cash And Short Term Investments	3.33B	2.86B	5.39B	11.53B	10.8B
Accounts Receivable, Total	1.63M	131M	211M	215M	276M
Other Receivables	26.3M	39.94M	110M	72.19M	91.47M
Total Receivables	27.94M	171M	321M	287M	367M
Inventory	29.43M	52.79M	103M	46.99M	20.38M
Prepaid Expenses	4.34M	-	-	-	-
Other Current Assets, Total	88.77M	179M	338M	172M	407M
Total Current Assets	3.48B	3.26B	6.15B	12.03B	11.59B
Gross Property Plant And Equipment	12.04B	14.28B	16B	16.92B	21.81B
Accumulated Depreciation	-4.58B	-6.26B	-6.99B	-8.77B	-10.82B
Net Property Plant And Equipment	7.46B	8.01B	9.01B	8.14B	10.99B
Other Intangibles, Total	195M	171M	149M	130M	137M
Deferred Tax Assets Long-Term	1.01B	1.67B	1.21B	478M	425M
Other Long-Term Assets, Total	1.28B	1.35B	1.52B	1.59B	2.65B
Total Assets	13.44B	14.47B	18.04B	22.38B	25.79B
Liabilities
Accounts Payable, Total	114M	336M	785M	895M	1.09B
Accrued Expenses, Total	-	-	-	523M	676M
Short-term Borrowings	900M	800M	-	-	-
Current Portion of Long-Term Debt	318M	818M	118M	94.54M	94.54M
Current Portion of Leases	1.2B	1.5B	1.62B	1.73B	1.88B
Current Income Taxes Payable	58.12M	29.06M	139K	-	540M
Unearned Revenue Current, Total	28M	1.57B	2.8B	3.19B	4.06B
Other Current Liabilities	349M	605M	1.13B	976M	1.36B
Total Current Liabilities	2.97B	5.65B	6.45B	7.41B	9.69B
Long-Term Debt	1.9B	1.81B	213M	118M	23.64M
Long-Term Leases	4.57B	5.81B	6.73B	6.35B	7.48B
Deferred Tax Liability Non Current	66.04M	-	-	-	32K
Other Non Current Liabilities	162M	268M	421M	873M	1.28B
Total Liabilities	9.67B	13.54B	13.81B	14.75B	18.47B
Common Stock, Total	4B	4B	4.49B	4.6B	4.6B
Additional Paid In Capital	2.04B	9K	990M	534M	1.33M
Retained Earnings	-2.27B	-3.07B	-1.25B	2.5B	2.72B
Comprehensive Income and Other	-359K	-159K	-2.18M	-1.4M	128K
Total Common Equity	3.77B	926M	4.23B	7.63B	7.32B
Total Equity	3.77B	926M	4.23B	7.63B	7.32B
Total Liabilities And Equity	13.44B	14.47B	18.04B	22.38B	25.79B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	400M	400M	449M	460M	460M
ECS Total Common Shares Outstanding	400M	400M	449M	460M	460M
Book Value / Share	9.42	2.31	9.42	16.6	15.92
Tangible Book Value	3.57B	755M	4.08B	7.5B	7.18B
Tangible Book Value Per Share	8.94	1.89	9.09	16.31	15.63
Total Debt	8.89B	10.74B	8.68B	8.29B	9.47B
Net Debt	5.56B	7.88B	3.3B	-3.24B	-1.32B
Debt Equivalent of Unfunded Proj. Benefit Obligation	6M	3.79M	7.65M	24.08M	26.18M
Debt Equivalent Oper. Leases	61.41M	37.82M	196M	45.71M	111M
Account Code - Inventory Valuation	6	6	6	6	6
Machinery, Total	2.35B	2.35B	2.41B	2.45B	4.06B
Full Time Employees	645	674	809	827	873
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	32K	45K

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	-2.27B	-2.85B	1.83B	2.77B	2.47B
Depreciation & Amortization - CF	1.45B	1.7B	1.73B	1.79B	2.06B
Amortization of Goodwill and Intangible Assets - (CF)	5.39M	12.94M	12.94M	12.94M	12.94M
Depreciation & Amortization, Total	1.46B	1.71B	1.74B	1.8B	2.08B
Amortization of Deferred Charges, Total - (CF)	9.88M	13.49M	9.89M	6.2M	6.58M
(Gain) Loss From Sale Of Asset	2.2M	2.28M	1.72M	3M	4.06M
Asset Writedown & Restructuring Costs	-	-	-	-	-
Stock-Based Compensation (CF)	667K	-	29.28M	61.21M	-
Provision and Write-off of Bad Debts	159K	-7K	-	32K	59K
Other Operating Activities, Total	-596M	-25.63M	700M	1.39B	1.3B
Change In Accounts Receivable	11.12M	-130M	-79.6M	-4.23M	-60.8M
Change In Inventories	646K	58K	1K	4K	-549K
Change In Accounts Payable	13.68M	223M	431M	132M	195M
Change in Unearned Revenues	6.88M	1.54B	1.23B	392M	871M
Change in Other Net Operating Assets	-41.27M	173M	137M	482M	26.11M
Cash from Operations	-1.4B	660M	6.03B	7.04B	6.88B
Capital Expenditure	-221M	-21.32M	-468M	-252M	-2.68B
Sale of Property, Plant, and Equipment	-	-	-	-	-
Sale (Purchase) of Intangible assets	-98M	-68.22M	-16.78M	-1.39M	-27.22M
Investment in Marketable and Equity Securities, Total	-553K	553K	-	-	-
Other Investing Activities, Total	-189M	-6.21M	188M	151M	-17.54M
Cash from Investing	-509M	-95.2M	-297M	-102M	-2.72B
Short Term Debt Issued, Total	1B	650M	300M	100M	-
Long-Term Debt Issued, Total	200M	500M	-	-	-
Total Debt Issued	1.2B	1.15B	300M	100M	-
Short Term Debt Repaid, Total	-1B	-750M	-1.1B	-100M	-
Long-Term Debt Repaid, Total	-1.31B	-1.52B	-3.82B	-1.69B	-1.88B
Total Debt Repaid	-2.31B	-2.27B	-4.92B	-1.79B	-1.88B
Issuance of Common Stock	3B	-	1.45B	578M	-
Common Dividends Paid	-	-	-	-	-2.78B
Common & Preferred Stock Dividends Paid	-	-	-	-	-2.78B
Other Financing Activities, Total	-1.2M	-1.79M	21.74M	8.4M	1.33M
Cash from Financing	1.89B	-1.13B	-3.15B	-1.11B	-4.66B
Foreign Exchange Rate Adjustments	148M	85.34M	-54.2M	309M	-230M
Net Change in Cash	127M	-475M	2.53B	6.14B	-732M
Supplemental Items
Cash Interest Paid	203M	240M	244M	298M	331M
Cash Income Tax Paid (Refund)	58.7M	56.5M	42.65M	27.94M	26.51M
Levered Free Cash Flow	-463M	1.47B	4.43B	4.86B	3.02B
Unlevered Free Cash Flow	-336M	1.62B	4.59B	5.05B	3.23B
Change In Net Working Capital	-253M	-1.74B	-1.81B	-1.13B	-1.85B
Net Debt Issued / Repaid	-1.11B	-1.12B	-4.62B	-1.69B	-1.88B

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	-13.82	-12.57	9.11	11.37	8.32
Return on Total Capital	-14.62	-14.42	12.05	15.93	12.26
Return On Equity %	-66.68	-121.38	70.89	46.76	33.02
Return on Common Equity	-66.68	-121.38	70.89	46.76	33.02
Margin Analysis
Gross Profit Margin %	-1K	-180.87	27.57	31.31	27.67
SG&A Margin	134.59	32.57	8.57	8.94	8.68
EBITDA Margin %	-1.06K	-196.42	20.69	23.47	20.77
EBITA Margin %	-1.14K	-212.46	19.1	22.46	19.06
EBIT Margin %	-1.14K	-213.45	19	22.38	18.98
Income From Continuing Operations Margin %	-929.22	-216.74	14.65	16.88	14.6
Net Income Margin %	-929.22	-216.74	14.65	16.88	14.6
Net Avail. For Common Margin %	-929.22	-216.74	14.65	16.88	14.6
Normalized Net Income Margin	-721.99	-170.01	11.47	13.34	11.43
Levered Free Cash Flow Margin	-189.64	111.84	35.57	29.59	17.88
Unlevered Free Cash Flow Margin	-137.62	123.26	36.79	30.73	19.1
Asset Turnover
Asset Turnover	0.02	0.09	0.77	0.81	0.7
Fixed Assets Turnover	0.03	0.17	1.46	1.91	1.77
Receivables Turnover (Average Receivables)	33.96	19.75	72.79	77.05	68.8
Inventory Turnover (Average Inventory)	90.57	89.84	115.99	150.48	362.91
Short Term Liquidity
Current Ratio	1.17	0.58	0.95	1.62	1.2
Quick Ratio	1.13	0.54	0.89	1.59	1.15
Operating Cash Flow to Current Liabilities	-0.47	0.12	0.93	0.95	0.71
Days Sales Outstanding (Average Receivables)	10.75	18.48	5.01	4.75	5.31
Days Outstanding Inventory (Average Inventory)	4.03	4.06	3.15	2.43	1.01
Average Days Payable Outstanding	15.72	22.07	23.11	27.4	29.66
Cash Conversion Cycle (Average Days)	-0.94	0.47	-14.95	-20.22	-23.35
Long Term Solvency
Total Debt/Equity	235.84	1.16K	205.37	108.7	129.43
Total Debt / Total Capital	70.22	92.06	67.25	52.08	56.41
LT Debt/Equity	171.67	823.27	164.16	84.78	102.5
Long-Term Debt / Total Capital	51.11	65.34	53.76	40.62	44.67
Total Liabilities / Total Assets	71.95	93.6	76.56	65.91	71.62
EBIT / Interest Expense	-13.67	-11.68	9.72	12.35	9.68
EBITDA / Interest Expense	-6.51	-4.54	16.86	18.41	15.95
(EBITDA - Capex) / Interest Expense	-7.59	-4.63	14.94	17.56	7.86
Total Debt / EBITDA	-6.72	-9.83	2.11	1.51	1.79
Net Debt / EBITDA	-4.2	-7.22	0.8	-0.59	-0.25
Total Debt / (EBITDA - Capex)	-5.76	-9.65	2.39	1.59	3.64
Net Debt / (EBITDA - Capex)	-3.6	-7.08	0.91	-0.62	-0.51
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-87.01	438.37	848.29	31.72	2.9
Gross Profit, 1 Yr. Growth %	66.61	-2.95	-244.53	49.62	-9.09
EBITDA, 1 Yr. Growth %	57.85	-0.63	-199.89	49.43	-8.95
EBITA, 1 Yr. Growth %	53.38	0.71	-185.25	54.86	-12.67
EBIT, 1 Yr. Growth %	53.67	0.98	-184.39	55.16	-12.72
Earnings From Cont. Operations, 1 Yr. Growth %	65.52	25.58	-164.1	51.72	-10.99
Net Income, 1 Yr. Growth %	65.52	25.58	-164.1	51.72	-10.99
Normalized Net Income, 1 Yr. Growth %	61.07	26.77	-163.97	53.2	-11.9
Diluted EPS Before Extra, 1 Yr. Growth %	11.36	-0.85	-159.79	44.37	-12.85
Accounts Receivable, 1 Yr. Growth %	-87.19	7.95K	60.53	1.96	28.25
Inventory, 1 Yr. Growth %	-2.15	79.37	94.99	-54.35	-56.63
Net Property, Plant and Equip., 1 Yr. Growth %	13.52	7.39	12.47	-9.68	34.98
Total Assets, 1 Yr. Growth %	14.9	7.66	24.72	24.01	15.25
Tangible Book Value, 1 Yr. Growth %	18.86	-78.88	440.59	83.72	-4.2
Common Equity, 1 Yr. Growth %	24.13	-75.45	356.88	80.35	-4.05
Cash From Operations, 1 Yr. Growth %	-57.53	-147.01	812.76	16.8	-2.25
Capital Expenditures, 1 Yr. Growth %	-43.2	-90.37	2.1K	-46.21	963.89
Levered Free Cash Flow, 1 Yr. Growth %	-85.43	-417.51	201.57	9.59	-37.84
Unlevered Free Cash Flow, 1 Yr. Growth %	-88.95	-582.2	183.03	10.01	-36.03
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-83.98	-16.39	614.51	253.42	16.42
Gross Profit, 2 Yr. CAGR %	19.19	27.16	18.44	47.05	16.63
EBITDA, 2 Yr. CAGR %	42.59	25.24	-0.37	22.17	16.65
EBITA, 2 Yr. CAGR %	59.09	24.28	-7.35	14.9	16.29
EBIT, 2 Yr. CAGR %	59.88	24.57	-7.69	14.43	16.38
Earnings From Cont. Operations, 2 Yr. CAGR %	67.52	44.17	-10.28	-1.38	16.21
Net Income, 2 Yr. CAGR %	67.52	44.17	-10.28	-1.38	16.21
Normalized Net Income, 2 Yr. CAGR %	66.95	42.89	-9.94	-1	16.22
Diluted EPS Before Extra, 2 Yr. CAGR %	33.36	5.08	-23	-7.09	12.17
Accounts Receivable, 2 Yr. CAGR %	-89.5	221.12	1.04K	27.94	14.35
Inventory, 2 Yr. CAGR %	-	32.48	87.02	-5.65	-55.51
Net Property, Plant and Equip., 2 Yr. CAGR %	-2.52	10.41	9.9	0.79	10.42
Total Assets, 2 Yr. CAGR %	0.38	11.22	15.88	24.36	19.55
Tangible Book Value, 2 Yr. CAGR %	13.52	-49.9	6.84	215.15	32.66
Common Equity, 2 Yr. CAGR %	15.99	-44.8	5.91	187.05	31.55
Cash From Operations, 2 Yr. CAGR %	-28.72	-55.32	107.15	226.52	6.85
Capital Expenditures, 2 Yr. CAGR %	-15.07	-76.61	45.44	243.7	139.21
Levered Free Cash Flow, 2 Yr. CAGR %	-53.37	-31.99	209.44	81.8	-17.46
Unlevered Free Cash Flow, 2 Yr. CAGR %	-61.65	-27.01	269.43	76.45	-16.11
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-69.7	-48.3	87.86	306.65	134.24
Gross Profit, 3 Yr. CAGR %	20.98	11.3	32.71	28.03	25.27
EBITDA, 3 Yr. CAGR %	37.6	26.42	16.14	14.04	10.77
EBITA, 3 Yr. CAGR %	48.1	36.6	9.61	9.96	4.86
EBIT, 3 Yr. CAGR %	48.62	37.17	9.41	9.76	4.55
Earnings From Cont. Operations, 3 Yr. CAGR %	32.22	52.17	10.04	6.89	-4.69
Net Income, 3 Yr. CAGR %	32.22	52.17	10.04	6.89	-4.69
Normalized Net Income, 3 Yr. CAGR %	41.56	52.31	9.31	7.51	-4.75
Diluted EPS Before Extra, 3 Yr. CAGR %	13.54	20.82	-12.92	-5.05	-9.05
Accounts Receivable, 3 Yr. CAGR %	-77.79	-3.92	154.86	408.9	28.04
Inventory, 3 Yr. CAGR %	-	-	50.7	16.88	-27.19
Net Property, Plant and Equip., 3 Yr. CAGR %	72.94	0.68	11.09	2.94	11.1
Total Assets, 3 Yr. CAGR %	31.52	2.75	15.55	18.53	21.25
Tangible Book Value, 3 Yr. CAGR %	21.8	-35.2	10.7	28	111.9
Common Equity, 3 Yr. CAGR %	23.39	-30.88	11.66	26.47	99.22
Cash From Operations, 3 Yr. CAGR %	6.47	-37.95	22.15	71.14	118.43
Capital Expenditures, 3 Yr. CAGR %	-8.77	-58.89	6.31	4.39	400.9
Levered Free Cash Flow, 3 Yr. CAGR %	5.48	-11.61	11.73	118.93	27.12
Unlevered Free Cash Flow, 3 Yr. CAGR %	-5.85	-10.83	14.67	146.7	25.82
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-43.75	-28.01	7.28	11.54	55.14
Gross Profit, 5 Yr. CAGR %	44.96	21.16	19.96	24.42	26.02
EBITDA, 5 Yr. CAGR %	30.43	32.2	20.93	24.7	16.34
EBITA, 5 Yr. CAGR %	28.37	40.4	22.77	27.47	12.23
EBIT, 5 Yr. CAGR %	28.42	40.53	22.84	27.58	12.14
Earnings From Cont. Operations, 5 Yr. CAGR %	23.87	37.83	13.23	27.94	12.47
Net Income, 5 Yr. CAGR %	23.87	37.83	13.23	27.94	12.47
Normalized Net Income, 5 Yr. CAGR %	29.21	44.68	18.13	28.2	12.03
Diluted EPS Before Extra, 5 Yr. CAGR %	13.06	19.99	-2.79	8.77	-3.64
Accounts Receivable, 5 Yr. CAGR %	-54.09	-1.9	7.22	7.74	84.96
Inventory, 5 Yr. CAGR %	-	-	-	-	-7.49
Net Property, Plant and Equip., 5 Yr. CAGR %	46.37	43.73	44.26	0.72	10.82
Total Assets, 5 Yr. CAGR %	32.19	24.28	25.02	10.9	17.13
Tangible Book Value, 5 Yr. CAGR %	51.53	-5.55	15.58	22	19.01
Common Equity, 5 Yr. CAGR %	52.73	-1.86	16.08	22.17	19.23
Cash From Operations, 5 Yr. CAGR %	52.86	-16.65	38.95	20.56	15.78
Capital Expenditures, 5 Yr. CAGR %	68.1	-41.95	9.94	-3.88	47.05
Levered Free Cash Flow, 5 Yr. CAGR %	-	7.92	62.23	17.94	-1.02
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	9.82	62.67	17.16	1.19
Dividend Per Share, 5 Yr. CAGR %	-	-	-	24.78	-