Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Free cash flow was higher than the prior year quarter, supported by improved operating cash flow. The margin strengthened further compared to both prior periods.
- Operating cash flow exceeded capital expenditure by a wide margin, resulting in strong free cash flow. The cash conversion efficiency improved versus both the preceding and year-ago quarters.
- Revenue was lower than the preceding quarter but slightly higher than a year ago. Operating cash flow and free cash flow declined sequentially yet improved year over year.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$4.2B
Trailing twelve-month free cash flow.
Quarter free cash flow
$1.0B
Free cash flow in the selected fiscal quarter.
Operating cash flow
$1.1B
Cash generated by operations before capital spending.
CapEx
$50.0M
Capital spending and related asset purchases.
FCF margin
297.4%
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 |
|---|---|---|---|---|---|
| 2023-06-30 | $352.0M | -$49.0M | $50.0M | -$99.0M | -28.1% |
| 2023-09-30 | $351.0M | $1.8B | $52.0M | $1.7B | 489.7% |
| 2023-12-31 | $6.4B | $1.6B | $64.0M | $1.6B | 24.4% |
| 2024-03-31 | $352.0M | $1.1B | $50.0M | $1.0B | 297.4% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 139.0% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 14.2% | 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 remained robust, supporting free cash flow well above capital expenditure. The company’s filing references forward-looking statements and risk factors, but no specific operational driver was cited.
Sustained operating cash flow at these levels would continue to support free cash flow generation.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Operating cash flow exceeded capital expenditure by a wide margin, resulting in strong free cash flow. The cash conversion efficiency improved versus both the preceding and year-ago quarters.
Revenue was lower than the preceding quarter but slightly higher than a year ago. Operating cash flow and free cash flow declined sequentially yet improved year over year.
Monitor revenue trends in upcoming quarters, as they can influence cash conversion and free cash flow stability.