Gravity Co. (GRVY) Cash Flow: Operating & Free Cash Flow

Gravity Co. Cash Flow Statement Analysis

Values in billions KRW

Income Statement Balance Sheet Cash Flow Ratios

Scale:

Scroll to see more

Cash flow statement showing operating, investing, and financing activities for Gravity Co., Ltd. (GRVY) - Annual data in billions KRW
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	67.31	84.90	131.98	83.06	65.88	62.70	39.73	31.39	13.31
Depreciation & Amortization	10.82	9.23	7.66	7.06	6.32	4.02	3.65	1.41	0.52
Deferred Income Tax	23.63	21.45	36.72	26.82	33.42	25.46	11.53	3.05	1.14
Change in Working Capital	-5.38	-3.82	-17.92	10.25	-2.88	-12.95	-17.21	6.70	12.88
Change in Accounts Receivable	20.92	0.86	-1.41	-37.30	5.53	-29.12	30.14	-18.57	-27.79
Change in Inventory	0.00	0.00	0.00	0.00	-1.77	-2.81	1.31	1.12	-7.26
Change in Accounts Payable	-9.51	-2.88	-13.84	43.90	-8.51	15.51	-37.15	27.32	35.05
Change in Other Working Capital	-19.09	-1.80	-19.44	-28.20	1.87	-2.68	-11.52	-3.16	12.88
Other Operating Activities	13.32	-33.21	28.51	24.30	-28.55	12.95	-11.33	-0.82	2.00
Net Cash from Operating Activities	76.09	78.56	132.43	98.28	74.18	69.86	26.37	35.97	26.14
Investing Activities
Capital Expenditures	-1.06	-4.76	-2.46	-0.74	-4.21	-1.07	-2.34	-2.25	-2.06
Acquisitions	-2.68	0.00	-8.72	0.00	2.46	2.62	1.36	0.00	-1.16
Purchases of Investments	-89.63	-42.30	-110.81	-19.57	-78.88	-32.36	-30.32	0.00	-0.93
Sales/Maturities of Investments	-110.96	0.02	-82.00	0.01	0.59	-2.63	0.04	13.00	0.01
Other Investing Activities	-90.33	-4.14	-110.80	-19.56	-2.44	-2.62	-1.27	0.07	1.17
Net Cash from Investing Activities	-96.65	-47.03	-116.58	-22.34	-82.47	-36.05	-32.53	10.82	-2.98
Financing Activities
Debt Repayment	-3.75	-4.53	-8.17	-3.92	-3.65	-2.89	-2.03	-0.20	0.00
Other Financing Activities	-4.51	-0.12	-4.08	-3.92	0.34	0.35	0.35	0.00	0.00
Net Cash from Financing Activities	-4.51	-4.64	-4.08	-3.92	-3.31	-2.55	-1.69	-0.20	0.00
Summary
Effect of Forex Changes on Cash	0.36	17.94	4.87	-1.25	0.07	-0.06	1.22	0.36	-0.78
Net Change in Cash	-25.30	44.82	14.20	70.77	-11.53	31.20	-6.62	46.96	22.38
Cash at Beginning of Period	228.90	184.08	169.88	99.11	110.63	79.43	86.05	39.10	16.72
Cash at End of Period	203.60	228.90	184.08	169.88	99.10	110.63	79.43	86.05	39.10
Free Cash Flow	75.04	73.79	129.97	97.54	69.97	68.79	24.03	33.72	24.07
Supplemental Disclosures
Interest Paid	0.27	0.13	0.16	0.12	0.11	0.19	-	-	-
Income Taxes Paid	26.26	31.94	28.08	29.31	30.27	12.82	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Gravity Co. Cash Flow

What is Gravity Co.'s free cash flow?

Gravity Co. generated free cash flow of KRW 75.04B in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of KRW 76.09B minus KRW 1.06B of capital expenditures. That was up 1.7% from KRW 73.79B a year earlier. Free cash flow equaled 13.4% of revenue.

How much does Gravity Co. spend on capital expenditures?

Gravity Co. spent KRW 1.06B on capital expenditures in fiscal 2025, compared with KRW 4.76B a year earlier. That equals 1.4% of operating cash flow.

Does Gravity Co. pay dividends or buy back shares?

Gravity Co.'s cash flow statement for fiscal 2025 shows no dividend payments or share repurchases.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition