Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Revenue and operating cash flow improved compared to both the prior quarter and the same quarter one year earlier, leading to higher free cash flow. The free cash flow margin, while higher than a year ago, declined slightly from the previous quarter.
- Revenue increased from the prior quarter and the year-ago quarter, while operating cash flow also rose. Capital expenditure was higher than both comparison periods, yet free cash flow still increased, resulting in a free cash flow margin that was higher than one year ago but lower than the prior quarter.
- Compared to the prior quarter, revenue, operating cash flow, capital expenditure, and free cash flow were all higher, while the free cash flow margin was lower. Versus the same quarter one year earlier, all metrics were higher, including the free cash flow margin.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$26.9B
Trailing twelve-month free cash flow.
Quarter free cash flow
$7.5B
Free cash flow in the selected fiscal quarter.
Operating cash flow
$7.7B
Cash generated by operations before capital spending.
CapEx
$237.0M
Capital spending and related asset purchases.
FCF margin
41.4%
The share of revenue converted into free cash flow.
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 |
|---|---|---|---|---|---|
| 2025-02-02 | $14.9B | $6.1B | $100.0M | $6.0B | 40.3% |
| 2025-05-04 | $15.0B | $6.6B | $144.0M | $6.4B | 42.7% |
| 2025-08-03 | $16.0B | $7.2B | $142.0M | $7.0B | 44.0% |
| 2025-11-02 | $18.0B | $7.7B | $237.0M | $7.5B | 41.4% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 87.6% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 1.3% | Lower capital intensity usually supports FCF margin. |
| Net cash | -$49.0B | Cash and equivalents minus total debt. |
Recent events shaping cash flow
Near-term business events that help explain the free cash flow result.
Revenue Growth
Revenue was higher than both the prior quarter and the same quarter one year earlier, representing the most notable improvement among the reported metrics.
This revenue increase supported higher operating cash flow and free cash flow in the current quarter.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Revenue increased from the prior quarter and the year-ago quarter, while operating cash flow also rose. Capital expenditure was higher than both comparison periods, yet free cash flow still increased, resulting in a free cash flow margin that was higher than one year ago but lower than the prior quarter.
Compared to the prior quarter, revenue, operating cash flow, capital expenditure, and free cash flow were all higher, while the free cash flow margin was lower. Versus the same quarter one year earlier, all metrics were higher, including the free cash flow margin.
Capital expenditure increased notably from the prior quarter; monitor its trend and potential impact on future free cash flow.