FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$3.8B
Trailing twelve-month free cash flow.
Quarter free cash flow
$756.0M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$926.0M
Cash generated by operations before capital spending.
CapEx
$170.0M
Capital spending and related asset purchases.
FCF margin
5.2%
The share of revenue converted into free cash flow.
TTM FCF yield
17.7%
TTM FCF divided by market capitalization.
FCF reconciliation
Free cash flow is not a GAAP line item; it should be bridged from the cash flow statement.
| Operating cash flow | $926.0M | Cash generated by operations before capital spending. |
| Capital expenditures | $170.0M | Capital spending used to bridge CFO to FCF. |
| Free cash flow | $756.0M | Operating cash flow less capital spending. |
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 |
|---|---|---|---|---|---|
| 2025-07-31 | $13.9B | $1.7B | $215.0M | $1.4B | 10.4% |
| 2025-10-31 | $14.6B | $1.6B | $197.0M | $1.4B | 9.7% |
| 2026-01-31 | $14.4B | $383.0M | $233.0M | $150.0M | 1.0% |
| 2026-04-30 | $14.4B | $926.0M | $170.0M | $756.0M | 5.2% |
Risks and tripwires
Observable signals that would weaken the free cash flow thesis.
| Risk | Tripwire | Why it matters |
|---|---|---|
| FCF margin compression | FCF margin falls for two consecutive quarters. | Cash conversion may be weakening before earnings show it. |
| Capital intensity rises | CapEx/revenue moves materially above the recent run rate. | More operating cash flow would be consumed before becoming FCF. |
| Working capital drag | Inventory or receivables grow faster than revenue. | Reported growth may not translate into cash. |