FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$6.0B
Trailing twelve-month free cash flow.
Quarter free cash flow
$809.8M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$1.1B
Cash generated by operations before capital spending.
CapEx
$331.6M
Capital spending and related asset purchases.
FCF margin
13.9%
The share of revenue converted into free cash flow.
TTM FCF yield
1.5%
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 | $1.1B | Cash generated by operations before capital spending. |
| Capital expenditures | $331.6M | Capital spending used to bridge CFO to FCF. |
| Free cash flow | $809.8M | 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 |
|---|---|---|---|---|---|
| 2025-06-29 | $5.2B | $2.6B | $172.2M | $2.4B | 46.1% |
| 2025-09-28 | $5.3B | $1.8B | $185.1M | $1.6B | 29.9% |
| 2025-12-28 | $5.3B | $1.5B | $260.9M | $1.2B | 22.8% |
| 2026-03-29 | $5.8B | $1.1B | $331.6M | $809.8M | 13.9% |
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. |