Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Revenue was lower than the prior quarter but higher than the same quarter last year. Free cash flow margin improved compared to both the preceding quarter and the year-ago period.
- Operating cash flow was stable relative to the prior quarter and higher year over year. Capital expenditure increased from the prior quarter but was unchanged from a year ago, resulting in free cash flow that was slightly lower than the prior quarter but significantly higher than the year-ago quarter.
- Compared to the immediately preceding quarter, revenue and free cash flow were lower, while free cash flow margin was higher. Compared to the same quarter one year earlier, revenue, operating cash flow, free cash flow, and free cash flow margin were all higher.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$1.7B
Trailing twelve-month free cash flow.
Quarter free cash flow
$620.0M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$673.0M
Cash generated by operations before capital spending.
CapEx
$53.0M
Capital spending and related asset purchases.
FCF margin
39.8%
The share of revenue converted into free cash flow.
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 |
|---|---|---|---|---|---|
| 2024-10-25 | $1.7B | $105.0M | $45.0M | $60.0M | 3.6% |
| 2025-01-24 | $1.6B | $385.0M | $47.0M | $338.0M | 20.6% |
| 2025-04-25 | $1.7B | $675.0M | $35.0M | $640.0M | 37.0% |
| 2025-07-25 | $1.6B | $673.0M | $53.0M | $620.0M | 39.8% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 266.1% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 3.4% | Lower capital intensity usually supports FCF margin. |
| Net cash | -$400.0M | Cash and equivalents minus total debt. |
Recent events shaping cash flow
Near-term business events that help explain the free cash flow result.
Free Cash Flow Margin Expansion
Free cash flow margin improved sequentially and year over year, driven by operating cash flow that remained robust relative to revenue.
This margin improvement indicates a stronger cash conversion efficiency in the current quarter.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Operating cash flow was stable relative to the prior quarter and higher year over year. Capital expenditure increased from the prior quarter but was unchanged from a year ago, resulting in free cash flow that was slightly lower than the prior quarter but significantly higher than the year-ago quarter.
Compared to the immediately preceding quarter, revenue and free cash flow were lower, while free cash flow margin was higher. Compared to the same quarter one year earlier, revenue, operating cash flow, free cash flow, and free cash flow margin were all higher.
Monitor the trend in capital expenditure, which increased from the prior quarter.