FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$909.0M
Trailing twelve-month free cash flow.
Quarter free cash flow
-$11.0M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$64.0M
Cash generated by operations before capital spending.
CapEx
$75.0M
Capital spending and related asset purchases.
FCF margin
-0.5%
The share of revenue converted into free cash flow.
TTM FCF yield
n/a
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 | $64.0M | Cash generated by operations before capital spending. |
| Capital expenditures | $75.0M | Capital spending used to bridge CFO to FCF. |
| Free cash flow | -$11.0M | 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 |
|---|---|---|---|---|---|
| 2023-12-31 | $2.1B | $360.0M | $30.0M | $330.0M | 15.5% |
| 2024-03-31 | $2.0B | $539.0M | $92.0M | $447.0M | 22.4% |
| 2024-06-30 | $2.1B | $254.0M | $111.0M | $143.0M | 6.8% |
| 2024-09-30 | $2.1B | $64.0M | $75.0M | -$11.0M | -0.5% |
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. |