Tower Semiconductor Ltd. (TSEM) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 509.97M | 47.25M | 139.42M | 122.6M | 93.92M | 100.82M | 124.74M | 113.08M | 110.04M | 126.1M | 402.24M | 75.49M | 72.73M | 132.75M | 122.4M | 138.1M | 136.57M | 133.66M | 138.1M | 93.25M |
| Operating CF Margin % | 123.29% | 10.73% | 35.24% | 32.95% | 26.22% | 26.04% | 33.67% | 32.2% | 33.63% | 35.85% | 112.31% | 21.14% | 20.45% | 32.92% | 28.66% | 32.4% | 32.43% | 32.43% | 35.71% | 25.75% |
| Operating CF Growth % | 442.97% | -53.13% | 11.77% | 8.41% | -14.65% | -20.05% | -68.99% | 49.79% | 51.3% | -5.01% | 228.62% | -45.33% | -46.75% | -0.68% | -11.37% | 48.09% | 56.24% | 83.07% | 101.27% | 40.01% |
| Net Income | 65.03M | 80.13M | 53.45M | 46.55M | 40.14M | 55.14M | 54.84M | 56.75M | 43.05M | 53.85M | 342.06M | 48.71M | 81.37M | 85.84M | 66.68M | 58.17M | 54.03M | 51.74M | 58.17M | 31.32M |
| Depreciation & Amortization | 82.92M | 77.79M | 76.46M | 74.64M | 74.23M | 84.43M | 65.35M | 65.57M | 59.54M | 65.18M | 66.88M | 63.58M | 62.39M | 79.89M | 74.96M | 67.01M | 70.78M | 73.69M | 67.01M | 65.48M |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 10.68M | 0 | 0 | 0 | 27.93M | 7.9M | 0 | 0 | 0 | 0 | 0 | 0 | 8.82M | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 5.64M | 21.94M | -122K | 3.52M | 133K | 2.28M | 6.29M | 0 | 5.99M | -22.11M | -41.8M | 2.95M | -111K | 6.39M | 8.05M | 2.84M | 1.76M | 24.37M | 2.84M | 3.56M |
| Working Capital Changes | 356.37M | -132.61M | 9.64M | -2.11M | -20.58M | -51.72M | -1.73M | -9.23M | 1.45M | 1.25M | 27.21M | -39.74M | -70.92M | -39.37M | -27.29M | 10.08M | 10M | -24.96M | 10.08M | -7.11M |
| Change in Receivables | 8.57M | -11.63M | 1.85M | 4.97M | -6.35M | -18.74M | -27.91M | -6.6M | -6.49M | -1.86M | 12.53M | -21.24M | 7.41M | 12.38M | 3.99M | 3.58M | -35.18M | 2.29M | 3.58M | 19M |
| Change in Inventory | 769K | 27M | -1.98M | -7.75M | -4.13M | -3.36M | 14.09M | 17.74M | -23.7M | 27.31M | 22.48M | 16.32M | -57.42M | -23.42M | -25.51M | -10.63M | -18.33M | -16.16M | -10.63M | -12.08M |
| Change in Payables | 8.72M | -5.11M | -6.52M | 0 | -11.11M | 0 | 4.65M | -19.74M | 32.56M | 0 | 0 | -24.71M | 44.54M | -57.95M | -15.95M | 22.41M | 30.59M | 0 | 22.41M | -5.3M |
| Cash from Investing | -496.37M | -78.09M | -123.49M | -138.68M | -66.94M | -97.72M | -108.21M | -95.17M | -99.13M | -173.4M | -419.58M | -46.82M | -81.05M | -188.61M | 84.12M | -114.51M | -110.45M | -133.22M | -114.51M | -73.24M |
| Capital Expenditures | -156.37M | -110.98M | -103.49M | -110.68M | -111.41M | -97.9M | -127.62M | -112.61M | -98.02M | -148.74M | -101.08M | -89.43M | -105.25M | -38.19M | -45.13M | -49.38M | -80.84M | -120.5M | -49.38M | -56.18M |
| CapEx % of Revenue | 37.8% | 25.21% | 26.16% | 29.75% | 31.11% | 25.28% | 34.45% | 32.07% | 29.95% | 42.29% | 28.22% | 25.04% | 29.6% | 9.47% | 10.57% | 11.59% | 19.2% | 29.24% | 12.77% | 15.51% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 32.89M | -20M | -28M | 0 | 172K | 0 | 0 | 0 | -24.66M | -318.5M | 0 | 0 | 0 | 0 | -6.25M | -29.61M | -12.72M | -6.25M | 0 |
| Cash from Financing | -4.58M | -5.42M | -6.88M | 5.1M | -26.87M | 2.79M | -16.4M | -10.44M | -8.41M | -8.95M | 15.49M | -10.09M | -26.86M | -5.25M | -22.7M | -8.21M | -30.5M | 1.09M | -8.21M | -19.77M |
| Debt Issued (Net) | -4.58M | -4.71M | -6.88M | 10.21M | -26.87M | 0 | -16.4M | -10.44M | -8.41M | 0 | 15.49M | -10.09M | -28.8M | -11.46M | -28.16M | -8.21M | -30.54M | -95.1M | -8.21M | -19.77M |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 44K | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | -714.51K | 0 | -5.1M | 0 | 2.79M | 0 | 0 | 0 | -8.95M | 0 | 0 | 1.93M | 6.22M | 5.47M | 0 | 0 | 96.19M | 0 | 0 |
| Net Change in Cash | 7.94M | -37.37M | 7.45M | -9.53M | 2.92M | 915K | 5.67M | 4.82M | -167K | -54.15M | -3.38M | 13.26M | -35.83M | -49.61M | 179.19M | 7.69M | -7.45M | -573K | 7.69M | 174K |
| Free Cash Flow | 353.6M | -75.33M | 35.93M | 11.92M | -17.49M | 2.92M | -2.88M | 470K | 12.02M | -22.65M | 301.16M | -13.94M | -32.52M | 94.56M | 77.27M | 88.72M | 55.73M | 13.16M | 88.72M | 37.07M |
| FCF Margin % | 85.49% | -17.11% | 9.08% | 3.2% | -4.88% | 0.75% | -0.78% | 0.13% | 3.67% | -6.44% | 84.08% | -3.9% | -9.14% | 23.45% | 18.09% | 20.82% | 13.23% | 3.19% | 22.94% | 10.24% |
| FCF Growth % | 2121.85% | -2679.91% | 1347.24% | 2435.53% | -245.5% | 112.89% | -100.96% | 103.37% | 136.96% | -123.95% | 289.76% | -115.71% | -158.35% | 618.52% | -12.91% | 139.36% | 46.67% | 49.95% | 4969.71% | 811.61% |
| FCF per Share | 3.09 | -0.66 | 0.32 | 0.11 | -0.15 | 0.03 | -0.03 | 0.00 | 0.11 | -0.20 | 2.71 | -0.13 | -0.29 | 0.85 | 0.70 | 0.80 | 0.50 | 0.12 | 0.81 | 0.34 |
| FCF Conversion (FCF/Net Income) | 7.84x | 0.59x | 2.60x | 2.63x | 2.34x | 1.83x | 2.28x | 2.12x | 2.47x | 2.34x | 1.18x | 1.47x | 1.02x | 1.59x | 1.77x | 2.38x | 2.53x | 2.58x | 3.53x | 3.02x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 4.25M | 0 | 0 | 0 | 4.52M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.56M | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |