FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$629.5M
Trailing twelve-month free cash flow.
Quarter free cash flow
$179.4M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$250.3M
Cash generated by operations before capital spending.
CapEx
$70.8M
Capital spending and related asset purchases.
FCF margin
22.3%
The share of revenue converted into free cash flow.
TTM FCF yield
1.0%
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 | $250.3M | Cash generated by operations before capital spending. |
| Capital expenditures | $70.8M | Capital spending used to bridge CFO to FCF. |
| Free cash flow | $179.4M | 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 |
|---|---|---|---|---|---|
| 2025-06-30 | $664.6M | $237.6M | $48.1M | $189.5M | 28.5% |
| 2025-09-30 | $737.2M | $239.3M | $42.5M | $196.8M | 26.7% |
| 2025-12-31 | $751.2M | $104.9M | $41.0M | $63.9M | 8.5% |
| 2026-03-31 | $804.2M | $250.3M | $70.8M | $179.4M | 22.3% |
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. |