Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Operating cash flow exceeded capital expenditure, producing positive free cash flow and a high margin. Revenue rose versus both the prior quarter and the same quarter last year.
- Operating cash flow was greater than capital expenditure, yielding strong free cash flow and a high free cash flow margin, indicating efficient conversion of revenue into cash.
- Compared with the immediately preceding quarter, revenue, operating cash flow, and free cash flow all improved, while capital expenditure decreased. Versus the same quarter one year earlier, revenue and free cash flow were higher, while operating cash flow and margin were also improved.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$1.2B
Trailing twelve-month free cash flow.
Quarter free cash flow
$1.2B
Free cash flow in the selected fiscal quarter.
Operating cash flow
$1.7B
Cash generated by operations before capital spending.
CapEx
$499.6M
Capital spending and related asset purchases.
FCF margin
71.4%
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 |
|---|---|---|---|---|---|
| 2024-06-30 | $952.5M | $322.0M | $558.2M | -$236.1M | -24.8% |
| 2024-09-30 | $1.3B | $593.0M | $569.5M | $23.5M | 1.8% |
| 2024-12-31 | $1.6B | $756.3M | $591.6M | $164.7M | 10.1% |
| 2025-03-31 | $1.7B | $1.7B | $499.6M | $1.2B | 71.4% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 512.7% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 28.7% | Lower capital intensity usually supports FCF margin. |
| Net cash | -$8.1B | Cash and equivalents minus total debt. |
Recent events shaping cash flow
Near-term business events that help explain the free cash flow result.
Strong Free Cash Flow Generation
Operating cash flow was materially higher than capital expenditure, resulting in a substantial free cash flow and a high margin, the strongest observable driver of the quarter's performance.
This improved cash conversion supports a solid cash position relative to investing activities.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Operating cash flow was greater than capital expenditure, yielding strong free cash flow and a high free cash flow margin, indicating efficient conversion of revenue into cash.
Compared with the immediately preceding quarter, revenue, operating cash flow, and free cash flow all improved, while capital expenditure decreased. Versus the same quarter one year earlier, revenue and free cash flow were higher, while operating cash flow and margin were also improved.
Monitor capital expenditure relative to operating cash flow in future quarters.