Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data Perfect Corp. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2020
FY2022
FY2022
FY2023
FY2024
FY2025
Revenue
29.9
40.8
47.3
53.5
60.2
69.2
Cost of revenue
3.96
5.74
7.13
10.4
13.3
15.6
Gross profit
25.9
35
40.2
43.1
46.9
53.5
Research and development
7.57
9.84
10.5
11.5
12
15.4
Operating income
-2.84
-5.04
-71.1
-5.66
-3.14
-1.73
Interest expense
0.01
0.01
0.01
0.02
0.02
0.02
Interest income
0.24
0.13
2.03
9.5
7.71
6.13
Pre-tax income
-5.21
-156
-161
5.53
4.29
5.74
Income tax
0.39
0.42
0.29
0.12
-0.74
1.09
Net income
-5.59
-157
-162
5.42
5.02
4.64
EPS, basic
-0.10
-2.96
-2.37
0.05
0.05
0.05
EPS, diluted
-0.10
-2.96
-2.37
0.05
0.05
0.05
Balance sheet
FY2020
FY2022
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
79
80.5
163
124
127
126
Inventory
0.09
0.05
0.03
0.02
0.02
Total current assets
87.5
209
169
178
173
Property, plant and equipment
0.45
0.41
0.29
0.38
0.55
0.7
Lease right-of-use assets
0.32
0.62
0.32
0.85
0.49
0.66
Goodwill
2.77
Intangible assets
0.11
0.1
0.12
0.08
0.03
4.42
Total assets
88.9
210
170
181
192
Total current liabilities
19.8
24.9
28.9
32.2
37.7
Lease liabilities
0.19
0.09
0.39
0.11
0.24
Total liabilities
279
28.3
31
34.2
38.9
Paid-in capital
2.87
556
510
513
514
Retained earnings
-224
-386
-380
-375
-371
Total equity
-35.7
-190
182
139
147
153
Total liabilities and equity
88.9
210
170
181
192
Cash flow statement
FY2020
FY2022
FY2022
FY2023
FY2024
FY2025
Net income
-5.59
-157
-162
5.42
5.02
4.64
Cash from operations
2.19
1.55
-3.31
13.6
13
13.3
Capital expenditures
-0.22
-0.15
-0.17
-0.29
-0.39
-0.43
Cash from investing
7.84
-0.21
-30.3
-0.64
-8.88
-14.1
Share buybacks
-10
0
0
-51.1
0
0
Cash from financing
39.8
-0.06
118
-51.5
-0.53
-0.56
Exchange rate effect
0.9
0.16
-2.3
-0.19
-0.35
0.18
Net change in cash
50.7
1.44
82.2
-38.7
3.25
-1.15
Free cash flow
1.98
1.39
-3.47
13.3
12.6
12.9
Interest paid
0.01
0.01
0.01
0.02
0.02
0.02
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $1.90 on September 28, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
77.4%
Gross profit / revenue.
Operating margin
-2.5%
Operating income / revenue.
Pre-tax margin
8.3%
Pre-tax income / revenue.
Net margin
6.7%
Net income / revenue.
FCF margin
18.6%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
19.2%
Cash from operations / revenue.
Effective tax rate
19.1%
Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)
2.5%
Net income / average total assets.
R&D / revenue
22.3%
Research and development expense / revenue.
Capex / revenue
0.6%
Capital expenditures / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
14.9%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
13.5%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
18.3%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
14.0%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
10.0%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
15.6%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y
-7.5%
Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y
0.0%
EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
2.3%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y
43.4%
Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y
2.1%
Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y
45.5%
Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
6.0%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-3.0%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
4.60x
Current assets / current liabilities.
Quick ratio
3.34x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
3.34x
(Cash + short-term investments) / current liabilities.
Liabilities / assets
20.3%
Total liabilities / total assets.
Interest coverage
-108x
Operating income / interest expense.
Working capital
$135.7M
Current assets - current liabilities.
Goodwill and intangibles / assets
3.7%
(Goodwill + intangible assets) / total assets.
Efficiency
Metric
Value
How it is calculated
Asset turnover
0.37x
Revenue / average total assets.
Fixed asset turnover
111x
Revenue / average property, plant and equipment.
Inventory turnover
893x
Cost of revenue / average inventory.
Days inventory
0 days
365 x average inventory / cost of revenue.
FCF conversion
277.4%
Free cash flow / net income, when net income is positive.
Capex / operating cash flow
3.2%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
$0.05
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
$0.05
Net income per basic share, as reported (split-adjusted).
Buybacks / FCF
0.0%
Share buybacks / free cash flow, when free cash flow is positive.
Valuation
Metric
Value
How it is calculated
Market cap
$193.5M
Share price x shares outstanding.
Enterprise value
$67.5M
Market cap + total debt - cash - short-term investments.
P/E
41.7x
Market cap / net income. Only when net income is positive.
P/S
2.80x
Market cap / revenue.
P/FCF
15.0x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
14.5x
Market cap / cash from operations, when positive.
EV/Sales
0.98x
Enterprise value / revenue.
EV/FCF
5.24x
Enterprise value / free cash flow, when both are positive.
FCF yield
6.7%
Free cash flow / market cap.
Earnings yield
2.4%
Net income / market cap (the inverse of P/E).
Shareholder yield
0.0%
(Dividends paid + share buybacks) / market cap.
What was Perfect Corp.'s revenue in fiscal 2025?
Perfect Corp. reported revenue of $69.2M for fiscal 2025, 14.9% higher than the year before.
Was Perfect Corp. profitable in fiscal 2025?
Yes. Net income was $4.6M, a net margin of 6.7%.
How much free cash flow did Perfect Corp. generate in fiscal 2025?
Cash from operations of $13.3M minus capital expenditures of $425.0K left free cash flow of $12.9M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.