Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Free cash flow improved sharply from the prior quarter, driven by higher operating cash flow and slightly lower capital expenditure. Compared to the same quarter last year, free cash flow was slightly higher, with a stable margin.
- Revenue was stable compared to the prior quarter and the year-ago quarter. Operating cash flow increased significantly from the prior quarter and was slightly higher than the year-ago quarter, leading to a higher free cash flow margin.
- Compared to the immediately preceding quarter, free cash flow and margin were higher, driven by stronger operating cash flow. Compared to the same quarter one year earlier, free cash flow and margin were slightly higher, with operating cash flow and capital expenditure both slightly higher.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$917.7M
Trailing twelve-month free cash flow.
Quarter free cash flow
$243.9M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$277.3M
Cash generated by operations before capital spending.
CapEx
$33.4M
Capital spending and related asset purchases.
FCF margin
16.1%
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 |
|---|---|---|---|---|---|
| 2023-09-30 | $1.6B | $72.9M | $42.8M | $30.1M | 1.8% |
| 2023-12-30 | $1.9B | $605.1M | $42.5M | $562.6M | 29.1% |
| 2024-03-30 | $1.6B | $121.0M | $39.9M | $81.1M | 5.2% |
| 2024-06-29 | $1.5B | $277.3M | $33.4M | $243.9M | 16.1% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 144.7% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 2.2% | 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.
Stronger Operating Cash Flow
Operating cash flow was substantially higher than the prior quarter and slightly higher than the year-ago quarter, directly lifting free cash flow.
This drove the quarter's free cash flow margin to a level higher than both comparison periods.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Revenue was stable compared to the prior quarter and the year-ago quarter. Operating cash flow increased significantly from the prior quarter and was slightly higher than the year-ago quarter, leading to a higher free cash flow margin.
Compared to the immediately preceding quarter, free cash flow and margin were higher, driven by stronger operating cash flow. Compared to the same quarter one year earlier, free cash flow and margin were slightly higher, with operating cash flow and capital expenditure both slightly higher.
Monitor the trend in operating cash flow, as it was the primary driver of the quarter's free cash flow improvement.