Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Revenue and operating cash flow were lower compared to both the prior quarter and the same quarter last year, resulting in a lower free cash flow margin. Capital expenditure was higher than the prior quarter but lower than the year-ago period.
- Revenue was lower sequentially and year over year, while operating cash flow decreased more substantially. With capital expenditure higher than the prior quarter and lower than the year-ago quarter, free cash flow and its margin were lower than both comparison periods.
- Compared to the immediately preceding quarter, revenue, operating cash flow, free cash flow, and free cash flow margin were all lower, while capital expenditure was higher. Compared to the same quarter one year earlier, revenue, operating cash flow, free cash flow, free cash flow margin, and capital expenditure were all lower.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$431.0M
Trailing twelve-month free cash flow.
Quarter free cash flow
$102.0M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$152.0M
Cash generated by operations before capital spending.
CapEx
$50.0M
Capital spending and related asset purchases.
FCF margin
11.4%
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 |
|---|---|---|---|---|---|
| 2024-07-31 | $951.0M | $17.0M | $41.0M | -$24.0M | -2.5% |
| 2024-10-31 | $1.1B | $112.0M | $31.0M | $81.0M | 7.4% |
| 2025-01-31 | $1.0B | $317.0M | $45.0M | $272.0M | 26.3% |
| 2025-04-30 | $894.0M | $152.0M | $50.0M | $102.0M | 11.4% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 69.9% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 5.6% | Lower capital intensity usually supports FCF margin. |
| Net cash | -$2.0B | Cash and equivalents minus total debt. |
Recent events shaping cash flow
Near-term business events that help explain the free cash flow result.
Weakening cash conversion
Operating cash flow as a proportion of revenue decreased compared to both the prior quarter and the same quarter last year, reducing the free cash flow margin.
The lower free cash flow margin indicates reduced cash generation efficiency from current revenue levels.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Revenue was lower sequentially and year over year, while operating cash flow decreased more substantially. With capital expenditure higher than the prior quarter and lower than the year-ago quarter, free cash flow and its margin were lower than both comparison periods.
Compared to the immediately preceding quarter, revenue, operating cash flow, free cash flow, and free cash flow margin were all lower, while capital expenditure was higher. Compared to the same quarter one year earlier, revenue, operating cash flow, free cash flow, free cash flow margin, and capital expenditure were all lower.
Monitor the trend of operating cash flow relative to revenue, as it has weakened from both the prior quarter and the year-ago period.