FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$694.5M
Trailing twelve-month free cash flow.
Quarter free cash flow
$704.0M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$779.6M
Cash generated by operations before capital spending.
CapEx
$75.6M
Capital spending and related asset purchases.
FCF margin
29.3%
The share of revenue converted into free cash flow.
FCF reconciliation
Free cash flow is not a GAAP line item; it should be bridged from the cash flow statement.
| Operating cash flow | $779.6M | Cash generated by operations before capital spending. |
| Capital expenditures | $75.6M | Capital spending used to bridge CFO to FCF. |
| Free cash flow | $704.0M | 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 |
|---|---|---|---|---|---|
| 2025-03-29 | $1.7B | $122.2M | $79.9M | $42.3M | 2.5% |
| 2025-06-28 | $1.7B | $176.1M | $187.3M | -$11.2M | -0.7% |
| 2025-09-27 | $2.0B | $53.2M | $93.8M | -$40.6M | -2.0% |
| 2025-12-27 | $2.4B | $779.6M | $75.6M | $704.0M | 29.3% |
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. |