FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$2.1B
Trailing twelve-month free cash flow.
Quarter free cash flow
$761.5M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$812.5M
Cash generated by operations before capital spending.
CapEx
$51.0M
Capital spending and related asset purchases.
FCF margin
43.5%
The share of revenue converted into free cash flow.
TTM FCF yield
5.3%
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 | $812.5M | Cash generated by operations before capital spending. |
| Capital expenditures | $51.0M | Capital spending used to bridge CFO to FCF. |
| Free cash flow | $761.5M | 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 |
|---|---|---|---|---|---|
| 2025-05-31 | $1.4B | $343.8M | $60.5M | $283.3M | 20.5% |
| 2025-08-31 | $1.5B | $718.4M | $55.9M | $662.5M | 44.4% |
| 2025-11-30 | $1.5B | $444.9M | $62.1M | $382.8M | 25.5% |
| 2026-02-28 | $1.8B | $812.5M | $51.0M | $761.5M | 43.5% |
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. |