FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$2.7B
Trailing twelve-month free cash flow.
Quarter free cash flow
$876.0M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$893.0M
Cash generated by operations before capital spending.
CapEx
$17.0M
Capital spending and related asset purchases.
FCF margin
45.3%
The share of revenue converted into free cash flow.
TTM FCF yield
6.3%
TTM FCF divided by market capitalization.
FCF reconciliation
Free cash flow is not a GAAP line item; it should be bridged from the cash flow statement.
| Operating cash flow | $893.0M | Cash generated by operations before capital spending. |
| Capital expenditures | $17.0M | Capital spending used to bridge CFO to FCF. |
| Free cash flow | $876.0M | Operating cash flow less capital spending. |
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 | $1.8B | $460.0M | $9.0M | $451.0M | 25.6% |
| 2025-10-31 | $1.9B | $439.0M | $9.0M | $430.0M | 23.2% |
| 2026-01-31 | $2.0B | $989.0M | $17.0M | $972.0M | 49.7% |
| 2026-04-30 | $1.9B | $893.0M | $17.0M | $876.0M | 45.3% |
Risks and tripwires
Observable signals that would weaken the free cash flow thesis.
| Risk | Tripwire | Why it matters |
|---|---|---|
| FCF margin compression | FCF margin falls for two consecutive quarters. | Cash conversion may be weakening before earnings show it. |
| Capital intensity rises | CapEx/revenue moves materially above the recent run rate. | More operating cash flow would be consumed before becoming FCF. |
| Working capital drag | Inventory or receivables grow faster than revenue. | Reported growth may not translate into cash. |