FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$928.2M
Trailing twelve-month free cash flow.
Quarter free cash flow
$318.2M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$320.9M
Cash generated by operations before capital spending.
CapEx
$2.7M
Capital spending and related asset purchases.
FCF margin
41.1%
The share of revenue converted into free cash flow.
TTM FCF yield
6.5%
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 | $320.9M | Cash generated by operations before capital spending. |
| Capital expenditures | $2.7M | Capital spending used to bridge CFO to FCF. |
| Free cash flow | $318.2M | 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 | $643.9M | $243.9M | $1.9M | $242.0M | 37.6% |
| 2025-09-30 | $893.8M | $104.0M | $3.5M | $100.5M | 11.2% |
| 2025-12-31 | $685.8M | $269.7M | $2.3M | $267.4M | 39.0% |
| 2026-03-31 | $774.3M | $320.9M | $2.7M | $318.2M | 41.1% |
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. |