FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$1.9B
Trailing twelve-month free cash flow.
Quarter free cash flow
$900.0M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$950.0M
Cash generated by operations before capital spending.
CapEx
$50.0M
Capital spending and related asset purchases.
FCF margin
46.2%
The share of revenue converted into free cash flow.
TTM FCF yield
6.0%
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 | $950.0M | Cash generated by operations before capital spending. |
| Capital expenditures | $50.0M | Capital spending used to bridge CFO to FCF. |
| Free cash flow | $900.0M | 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 |
|---|---|---|---|---|---|
| 2025-07-25 | $1.6B | $673.0M | $53.0M | $620.0M | 39.8% |
| 2025-10-24 | $1.7B | $127.0M | $49.0M | $78.0M | 4.6% |
| 2026-01-23 | $1.7B | $317.0M | $46.0M | $271.0M | 15.8% |
| 2026-04-24 | $1.9B | $950.0M | $50.0M | $900.0M | 46.2% |
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. |