Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Free cash flow increased compared to both the prior quarter and the year-ago period, alongside higher revenue and operating cash flow. Per the filing, aftermarket services represent a significant portion of revenue, supported by a large installed engine base.
- Revenue grew while operating cash flow expanded at a faster rate, leading to a higher free cash flow margin. Capital expenditure rose modestly but remained well covered by operating cash flow.
- Quarter over quarter, free cash flow improved as both revenue and cash generation advanced. Year over year, free cash flow rose substantially, reflecting stronger revenue and better cash conversion.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$5.5B
Trailing twelve-month free cash flow.
Quarter free cash flow
$1.9B
Free cash flow in the selected fiscal quarter.
Operating cash flow
$2.2B
Cash generated by operations before capital spending.
CapEx
$327.0M
Capital spending and related asset purchases.
FCF margin
17.4%
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 |
|---|---|---|---|---|---|
| 2024-09-30 | $9.8B | $1.5B | $266.0M | $1.2B | 12.6% |
| 2024-12-31 | $9.9B | $1.3B | $267.0M | $1.0B | 10.4% |
| 2025-03-31 | $9.9B | $1.5B | $208.0M | $1.3B | 13.1% |
| 2025-06-30 | $11.0B | $2.2B | $327.0M | $1.9B | 17.4% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 94.6% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 3.0% | 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 Growth
Operating cash flow increased significantly from both the prior quarter and the year-ago quarter, accompanying higher revenue. This improvement was the primary factor behind the higher free cash flow.
The enhanced operating cash flow strengthened the company's cash generation capacity in the current quarter.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Revenue grew while operating cash flow expanded at a faster rate, leading to a higher free cash flow margin. Capital expenditure rose modestly but remained well covered by operating cash flow.
Quarter over quarter, free cash flow improved as both revenue and cash generation advanced. Year over year, free cash flow rose substantially, reflecting stronger revenue and better cash conversion.
Monitor the trend of capital expenditure relative to operating cash flow to assess the sustainability of free cash flow generation.