Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Operating cash flow increased from both the prior quarter and the same quarter last year, while capital expenditure decreased, resulting in a higher free cash flow. Free cash flow margin improved compared to both the immediate preceding quarter and the year-ago quarter.
- Revenue was stable compared to both comparison periods, yet operating cash flow rose and capital expenditure fell, driving free cash flow higher and the free cash flow margin to improve.
- Compared to the preceding quarter, free cash flow and margin were higher, supported by both higher operating cash flow and lower capital expenditure. Versus the same quarter last year, free cash flow and margin were also higher, with operating cash flow higher and capital expenditure lower.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$563.2M
Trailing twelve-month free cash flow.
Quarter free cash flow
$112.4M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$171.7M
Cash generated by operations before capital spending.
CapEx
$59.3M
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 |
|---|---|---|---|---|---|
| 2024-06-29 | $1.0B | $193.5M | $39.5M | $154.0M | 15.0% |
| 2024-09-28 | $1.0B | $251.8M | $38.7M | $213.1M | 21.1% |
| 2024-12-28 | $1.0B | $159.4M | $75.6M | $83.7M | 8.4% |
| 2025-03-29 | $984.2M | $171.7M | $59.3M | $112.4M | 11.4% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 441.2% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 6.0% | Lower capital intensity usually supports FCF margin. |
| Net cash | n/a | Cash and equivalents minus total debt. |
Recent events shaping cash flow
Near-term business events that help explain the free cash flow result.
Operating cash flow uplift
Operating cash flow was higher sequentially and year-over-year, providing the primary lift to free cash flow. Capital expenditure was lower in both comparisons, further supporting cash generation.
The combination of higher operating cash flow and lower capital expenditure directly improved free cash flow and its margin.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Revenue was stable compared to both comparison periods, yet operating cash flow rose and capital expenditure fell, driving free cash flow higher and the free cash flow margin to improve.
Compared to the preceding quarter, free cash flow and margin were higher, supported by both higher operating cash flow and lower capital expenditure. Versus the same quarter last year, free cash flow and margin were also higher, with operating cash flow higher and capital expenditure lower.
Revenue stability across the comparative periods warrants monitoring, as it remained unchanged while cash generation improved.