FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$848.6M
Trailing twelve-month free cash flow.
Quarter free cash flow
$184.1M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$225.6M
Cash generated by operations before capital spending.
CapEx
$41.5M
Capital spending and related asset purchases.
FCF margin
16.3%
The share of revenue converted into free cash flow.
FCF reconciliation
Free cash flow is not a GAAP line item; it should be bridged from the cash flow statement.
| Operating cash flow | $225.6M | Cash generated by operations before capital spending. |
| Capital expenditures | $41.5M | Capital spending used to bridge CFO to FCF. |
| Free cash flow | $184.1M | 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 |
|---|---|---|---|---|---|
| 2025-03-31 | $883.7M | $194.4M | $17.3M | $177.2M | 20.1% |
| 2025-06-30 | $983.2M | $236.4M | $23.9M | $212.5M | 21.6% |
| 2025-09-30 | $1.0B | $299.4M | $24.5M | $274.9M | 26.7% |
| 2025-12-31 | $1.1B | $225.6M | $41.5M | $184.1M | 16.3% |
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. |