Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Cash conversion strengthened as operating cash flow surpassed revenue, resulting in a free cash flow margin above the revenue base. Free cash flow was higher than both the preceding quarter and the same quarter one year earlier, while capital expenditure remained consistent.
- Operating cash flow was higher than revenue, leading to a free cash flow margin that exceeded the revenue base. Capital expenditure was stable compared to the preceding quarter but higher than the same quarter one year earlier.
- Compared to the preceding quarter, revenue, operating cash flow, and free cash flow were all higher, while capital expenditure was unchanged. Versus the same quarter one year earlier, all metrics were higher, with operating cash flow and free cash flow showing the largest improvements.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$1.9B
Trailing twelve-month free cash flow.
Quarter free cash flow
$500.0M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$554.0M
Cash generated by operations before capital spending.
CapEx
$54.0M
Capital spending and related asset purchases.
FCF margin
132.6%
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 | $362.0M | -$58.0M | $42.0M | -$100.0M | -27.6% |
| 2024-12-31 | $410.0M | $1.1B | $27.0M | $1.1B | 265.4% |
| 2025-03-31 | $351.0M | $513.0M | $54.0M | $459.0M | 130.8% |
| 2025-06-30 | $377.0M | $554.0M | $54.0M | $500.0M | 132.6% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 93.3% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 14.3% | 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 Strength
Operating cash flow was higher than revenue, driving a free cash flow margin that exceeded the revenue base. This relationship strengthened compared to both the preceding quarter and the same quarter one year earlier.
The strong cash conversion supported a higher free cash flow level relative to both prior periods.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Operating cash flow was higher than revenue, leading to a free cash flow margin that exceeded the revenue base. Capital expenditure was stable compared to the preceding quarter but higher than the same quarter one year earlier.
Compared to the preceding quarter, revenue, operating cash flow, and free cash flow were all higher, while capital expenditure was unchanged. Versus the same quarter one year earlier, all metrics were higher, with operating cash flow and free cash flow showing the largest improvements.
Monitor the parent company's cash and cash equivalents, which were lower at the end of the current quarter compared to the end of the prior year.