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
$788.5M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$1.0B
Cash generated by operations before capital spending.
CapEx
$244.4M
Capital spending and related asset purchases.
FCF margin
17.3%
The share of revenue converted into free cash flow.
TTM FCF yield
2.8%
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 | $1.0B | Cash generated by operations before capital spending. |
| Capital expenditures | $244.4M | Capital spending used to bridge CFO to FCF. |
| Free cash flow | $788.5M | 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 |
|---|---|---|---|---|---|
| 2025-06-30 | $4.5B | $756.8M | $300.7M | $456.1M | 10.1% |
| 2025-09-30 | $4.7B | $616.5M | $312.1M | $304.4M | 6.5% |
| 2025-12-31 | $4.4B | $633.5M | $269.0M | $364.5M | 8.3% |
| 2026-03-31 | $4.6B | $1.0B | $244.4M | $788.5M | 17.3% |
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. |