Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Revenue was stable compared to the prior quarter and higher than the same quarter one year earlier. Operating cash flow improved, capital expenditure was lower, and the free cash flow margin strengthened, while the company's filing indicates it expects its cash resources to support liquidity needs.
- Operating cash flow was higher than the prior quarter, while capital expenditure was lower. This resulted in increased free cash flow and an improved free cash flow margin relative to revenue.
- Compared to the prior quarter, free cash flow and margin were higher. Compared to the same quarter one year earlier, free cash flow and margin were also higher.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$1.1B
Trailing twelve-month free cash flow.
Quarter free cash flow
$201.0M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$277.0M
Cash generated by operations before capital spending.
CapEx
$76.0M
Capital spending and related asset purchases.
FCF margin
11.0%
The share of revenue converted into free cash flow.
TTM FCF yield
2.8%
TTM FCF divided by market capitalization.
Cash flow trend
A short quarterly history shows whether FCF is scaling with revenue or only spiking for one period.
| Period | Revenue | Operating CF | CapEx | FCF | FCF margin |
|---|---|---|---|---|---|
| 2025-07-31 | $1.7B | $362.0M | $103.0M | $259.0M | 14.9% |
| 2025-10-31 | $1.9B | $545.0M | $93.0M | $452.0M | 24.3% |
| 2026-01-31 | $1.8B | $268.0M | $93.0M | $175.0M | 9.7% |
| 2026-04-30 | $1.8B | $277.0M | $76.0M | $201.0M | 11.0% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 59.3% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 4.1% | Lower capital intensity usually supports FCF margin. |
| Net cash | -$1.2B | Cash and equivalents minus total debt. |
Recent events shaping cash flow
Near-term business events that help explain the free cash flow result.
Free Cash Flow Margin Improvement
Operating cash flow increased and capital expenditure decreased, leading to a higher free cash flow margin.
The company's cash conversion efficiency strengthened during the quarter.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Operating cash flow was higher than the prior quarter, while capital expenditure was lower. This resulted in increased free cash flow and an improved free cash flow margin relative to revenue.
Compared to the prior quarter, free cash flow and margin were higher. Compared to the same quarter one year earlier, free cash flow and margin were also higher.
Monitor the level of capital expenditure, which was lower in the current quarter compared to both prior periods.
Valuation context
A cash-flow page should show how much investors are paying for the cash stream, without turning into a full DCF.
| Market capitalization | $38.2B | Used as the denominator for FCF yield. |
| TTM FCF yield | 2.8% | TTM free cash flow divided by market capitalization. |
| EV / TTM FCF | 36.3x | A quick valuation bridge, not a full DCF. |
Peer context
Free cash flow quality is easier to read against related public companies.