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
$343.7M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$344.0M
Cash generated by operations before capital spending.
CapEx
$244000
Capital spending and related asset purchases.
FCF margin
-70.4%
The share of revenue converted into free cash flow.
FCF reconciliation
Free cash flow is not a GAAP line item; it should be bridged from the cash flow statement.
| Operating cash flow | $344.0M | Cash generated by operations before capital spending. |
| Capital expenditures | $244000 | Capital spending used to bridge CFO to FCF. |
| Free cash flow | $343.7M | 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 |
|---|---|---|---|---|---|
| 2023-03-31 | $715.4M | $288.7M | $70000 | $288.6M | 40.3% |
| 2023-06-30 | $750.2M | $229.8M | $3.7M | $226.0M | 30.1% |
| 2023-09-30 | $864.3M | $199.1M | $183000 | $198.9M | 23.0% |
| 2023-12-31 | -$488.1M | $344.0M | $244000 | $343.7M | -70.4% |
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. |