FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$716.8M
Trailing twelve-month free cash flow.
Quarter free cash flow
-$303.2M
Free cash flow in the selected fiscal quarter.
Operating cash flow
-$284.4M
Cash generated by operations before capital spending.
CapEx
$18.9M
Capital spending and related asset purchases.
FCF margin
-3.8%
The share of revenue converted into free cash flow.
TTM FCF yield
n/a
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 | -$284.4M | Cash generated by operations before capital spending. |
| Capital expenditures | $18.9M | Capital spending used to bridge CFO to FCF. |
| Free cash flow | -$303.2M | 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 |
|---|---|---|---|---|---|
| 2025-08-31 | $8.8B | -$158.6M | $32.2M | -$190.8M | -2.2% |
| 2025-11-30 | $9.4B | $1.8B | $85.2M | $1.7B | 17.9% |
| 2026-02-28 | $6.6B | -$433.5M | $30.0M | -$463.5M | -7.0% |
| 2026-05-31 | $7.9B | -$284.4M | $18.9M | -$303.2M | -3.8% |
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. |