Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Free cash flow was higher compared to both the prior quarter and the same quarter a year earlier, while the free cash flow margin was slightly lower than those periods. Revenue increased, and operating cash flow and capital expenditure were both higher, resulting in higher free cash flow.
- Revenue was higher compared to the preceding periods. Operating cash flow increased, and capital expenditure also increased. Free cash flow was higher, while the free cash flow margin was slightly lower.
- Compared to the immediately preceding quarter, revenue, operating cash flow, and capital expenditure were higher, free cash flow improved slightly, and the margin was lower. Versus the same quarter a year earlier, revenue, operating cash flow, and capital expenditure were higher, free cash flow was higher, and the margin was slightly lower.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$875.9M
Trailing twelve-month free cash flow.
Quarter free cash flow
$209.3M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$278.6M
Cash generated by operations before capital spending.
CapEx
$69.3M
Capital spending and related asset purchases.
FCF margin
10.1%
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 | $1.9B | $296.9M | $59.4M | $237.5M | 12.4% |
| 2024-12-31 | $1.8B | $282.8M | $60.2M | $222.6M | 12.2% |
| 2025-03-31 | $2.0B | $262.2M | $55.7M | $206.5M | 10.5% |
| 2025-06-30 | $2.1B | $278.6M | $69.3M | $209.3M | 10.1% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 63.4% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 3.3% | Lower capital intensity usually supports FCF margin. |
| Net cash | $7.8M | Cash and equivalents minus total debt. |
Recent events shaping cash flow
Near-term business events that help explain the free cash flow result.
Working Capital Trends
Operating cash flow as a percentage of net income declined, with the filing citing operating assets and liabilities as a greater use of cash in the current quarter compared to the prior year.
If this trend persists, it may continue to pressure cash conversion.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Revenue was higher compared to the preceding periods. Operating cash flow increased, and capital expenditure also increased. Free cash flow was higher, while the free cash flow margin was slightly lower.
Compared to the immediately preceding quarter, revenue, operating cash flow, and capital expenditure were higher, free cash flow improved slightly, and the margin was lower. Versus the same quarter a year earlier, revenue, operating cash flow, and capital expenditure were higher, free cash flow was higher, and the margin was slightly lower.
Monitor changes in operating assets and liabilities, which the filing indicated were a greater use of cash in the current quarter compared to the prior year.