Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Free cash flow and margin were higher than both the immediately preceding quarter and the same quarter one year earlier. The improvement was driven by higher operating cash flow accompanying higher revenue.
- Revenue, operating cash flow, and free cash flow all increased. The free cash flow margin was higher, indicating that a larger proportion of revenue was converted into free cash flow compared to both prior periods.
- Compared to the immediately preceding quarter, all metrics were higher. The same pattern held when compared to the same quarter one year earlier.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$7.7B
Trailing twelve-month free cash flow.
Quarter free cash flow
$5.2B
Free cash flow in the selected fiscal quarter.
Operating cash flow
$5.3B
Cash generated by operations before capital spending.
CapEx
$64.0M
Capital spending and related asset purchases.
FCF margin
61.2%
The share of revenue converted into free cash flow.
TTM FCF yield
10.0%
TTM FCF divided by market capitalization.
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 | $3.8B | $381.0M | $15.0M | $366.0M | 9.6% |
| 2025-10-31 | $3.9B | $637.0M | $38.0M | $599.0M | 15.4% |
| 2026-01-31 | $4.7B | $1.6B | $46.0M | $1.5B | 32.8% |
| 2026-04-30 | $8.6B | $5.3B | $64.0M | $5.2B | 61.2% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 170.9% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 0.7% | Lower capital intensity usually supports FCF margin. |
| Net cash | -$1.5B | Cash and equivalents minus total debt. |
Recent events shaping cash flow
Near-term business events that help explain the free cash flow result.
Revenue and Operating Cash Flow Growth
Revenue and operating cash flow were higher than both prior periods, driving an increase in free cash flow and margin.
This supports the company's ability to generate cash from operations.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Revenue, operating cash flow, and free cash flow all increased. The free cash flow margin was higher, indicating that a larger proportion of revenue was converted into free cash flow compared to both prior periods.
Compared to the immediately preceding quarter, all metrics were higher. The same pattern held when compared to the same quarter one year earlier.
Monitor the trend in operating cash flow generation, as it is the primary source of free cash flow.
Valuation context
A cash-flow page should show how much investors are paying for the cash stream, without turning into a full DCF.
| Market capitalization | $77.3B | Used as the denominator for FCF yield. |
| TTM FCF yield | 10.0% | TTM free cash flow divided by market capitalization. |
| EV / TTM FCF | 10.2x | A quick valuation bridge, not a full DCF. |
Peer context
Free cash flow quality is easier to read against related public companies.