Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Free cash flow and margin weakened compared to both the prior quarter and the same quarter last year, as operating cash flow declined despite higher revenue.
- Revenue increased, but operating cash flow fell, resulting in lower free cash flow and a reduced free cash flow margin.
- Compared to the prior quarter, free cash flow and margin declined sharply; versus the year-ago quarter, both also decreased, though less dramatically.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$2.0B
Trailing twelve-month free cash flow.
Quarter free cash flow
$921.0M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$1.1B
Cash generated by operations before capital spending.
CapEx
$200.0M
Capital spending and related asset purchases.
FCF margin
24.3%
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 |
|---|---|---|---|---|---|
| 2024-09-30 | $4.1B | -$1.5B | $194.0M | -$1.7B | -41.6% |
| 2024-12-31 | $3.2B | $198.0M | $191.0M | $7.0M | 0.2% |
| 2025-03-31 | $3.0B | $3.0B | $196.0M | $2.8B | 92.2% |
| 2025-06-30 | $3.8B | $1.1B | $200.0M | $921.0M | 24.3% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 279.1% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 5.3% | Lower capital intensity usually supports FCF margin. |
| Net cash | $91.0M | 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 Decline
Operating cash flow decreased significantly compared to both the prior quarter and the year-ago period, driving the drop in free cash flow.
If operating cash flow does not improve, free cash flow may remain pressured.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Revenue increased, but operating cash flow fell, resulting in lower free cash flow and a reduced free cash flow margin.
Compared to the prior quarter, free cash flow and margin declined sharply; versus the year-ago quarter, both also decreased, though less dramatically.
Monitor whether operating cash flow recovers in coming quarters.