Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Revenue was lower than both the prior quarter and the same quarter last year. Free cash flow margin improved compared to the prior quarter but weakened compared to the year-ago period.
- Operating cash flow was higher than the prior quarter, while capital expenditure was also higher. This resulted in free cash flow that was higher than the prior quarter. Compared to a year ago, operating cash flow, capital expenditure, and free cash flow were all lower.
- Sequentially, revenue decreased while operating cash flow increased, leading to improved free cash flow and margin. Year-over-year, revenue, operating cash flow, and free cash flow all decreased, and the margin weakened.
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
$426.0M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$565.0M
Cash generated by operations before capital spending.
CapEx
$139.0M
Capital spending and related asset purchases.
FCF margin
15.0%
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 |
|---|---|---|---|---|---|
| 2024-06-30 | $3.1B | $761.0M | $185.0M | $576.0M | 18.4% |
| 2024-09-29 | $3.3B | $779.0M | $186.0M | $593.0M | 18.2% |
| 2024-12-31 | $3.1B | $391.0M | $130.0M | $261.0M | 8.4% |
| 2025-03-30 | $2.8B | $565.0M | $139.0M | $426.0M | 15.0% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 86.9% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 4.9% | Lower capital intensity usually supports FCF margin. |
| Net cash | n/a | Cash and equivalents minus total debt. |
Recent events shaping cash flow
Near-term business events that help explain the free cash flow result.
Sequential free cash flow margin improvement
Free cash flow margin was higher than the prior quarter, with operating cash flow increasing while revenue declined.
Free cash flow was higher than the prior quarter even though revenue was lower.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Operating cash flow was higher than the prior quarter, while capital expenditure was also higher. This resulted in free cash flow that was higher than the prior quarter. Compared to a year ago, operating cash flow, capital expenditure, and free cash flow were all lower.
Sequentially, revenue decreased while operating cash flow increased, leading to improved free cash flow and margin. Year-over-year, revenue, operating cash flow, and free cash flow all decreased, and the margin weakened.
Monitor the trend in capital expenditure relative to operating cash flow, as it influences free cash flow generation.