FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$532.0M
Trailing twelve-month free cash flow.
Quarter free cash flow
$225.0M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$886.0M
Cash generated by operations before capital spending.
CapEx
$661.0M
Capital spending and related asset purchases.
FCF margin
2.4%
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 | $886.0M | Cash generated by operations before capital spending. |
| Capital expenditures | $661.0M | Capital spending used to bridge CFO to FCF. |
| Free cash flow | $225.0M | 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 |
|---|---|---|---|---|---|
| 2025-07-05 | $8.5B | $732.0M | $954.0M | -$222.0M | -2.6% |
| 2025-10-04 | $8.5B | $1.3B | $807.0M | $532.0M | 6.2% |
| 2025-12-31 | $7.7B | $799.0M | $802.0M | -$3.0M | -0.0% |
| 2026-04-04 | $9.5B | $886.0M | $661.0M | $225.0M | 2.4% |
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. |