Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Revenue increased compared to both the prior quarter and the same quarter last year. However, free cash flow and margin weakened significantly due to lower operating cash flow.
- Revenue was higher but operating cash flow decreased, resulting in a substantially lower free cash flow margin. Capital expenditure remained relatively stable across the periods.
- Compared to the preceding quarter, revenue improved but operating cash flow and free cash flow were lower, leading to a weakened margin. Versus the same quarter one year ago, the pattern was similar: higher revenue accompanied by lower cash generation.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$2.7B
Trailing twelve-month free cash flow.
Quarter free cash flow
$194.0M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$367.0M
Cash generated by operations before capital spending.
CapEx
$173.0M
Capital spending and related asset purchases.
FCF margin
2.1%
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 | $8.9B | $1.1B | $159.0M | $968.0M | 10.9% |
| 2024-12-31 | $10.6B | $921.0M | $350.0M | $571.0M | 5.4% |
| 2025-03-31 | $8.0B | $1.2B | $186.0M | $975.0M | 12.1% |
| 2025-06-30 | $9.1B | $367.0M | $173.0M | $194.0M | 2.1% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 37.7% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 1.9% | 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 Contraction
Operating cash flow decreased significantly from both the prior quarter and the year-ago period, despite higher revenue. This decline was the primary factor behind the lower free cash flow and margin.
The reduction in operating cash flow directly weakened free cash flow and compressed the margin.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Revenue was higher but operating cash flow decreased, resulting in a substantially lower free cash flow margin. Capital expenditure remained relatively stable across the periods.
Compared to the preceding quarter, revenue improved but operating cash flow and free cash flow were lower, leading to a weakened margin. Versus the same quarter one year ago, the pattern was similar: higher revenue accompanied by lower cash generation.
Monitor the trajectory of operating cash flow relative to revenue.