FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$14.7B
Trailing twelve-month free cash flow.
Quarter free cash flow
$6.6B
Free cash flow in the selected fiscal quarter.
Operating cash flow
$6.7B
Cash generated by operations before capital spending.
CapEx
$145.0M
Capital spending and related asset purchases.
FCF margin
58.9%
The share of revenue converted into free cash flow.
TTM FCF yield
11.0%
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 | $6.7B | Cash generated by operations before capital spending. |
| Capital expenditures | $145.0M | Capital spending used to bridge CFO to FCF. |
| Free cash flow | $6.6B | 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 | $10.2B | $740.0M | $135.0M | $605.0M | 5.9% |
| 2025-10-31 | $10.3B | $2.3B | $139.0M | $2.2B | 21.2% |
| 2026-01-31 | $11.2B | $5.5B | $141.0M | $5.3B | 47.5% |
| 2026-04-30 | $11.1B | $6.7B | $145.0M | $6.6B | 58.9% |
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. |