Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Revenue was stable versus the prior quarter and higher than a year ago. Free cash flow margin improved compared to the same quarter last year but weakened sequentially.
- Operating cash flow was lower than the prior quarter but higher than a year ago. Capital expenditure increased sequentially, resulting in free cash flow that was lower than the prior quarter and higher than the same quarter last year.
- Compared to the immediately preceding quarter, revenue was stable while free cash flow margin was lower. Compared to the same quarter one year earlier, revenue was higher and free cash flow margin was improved.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$1.7B
Trailing twelve-month free cash flow.
Quarter free cash flow
$508.2M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$538.8M
Cash generated by operations before capital spending.
CapEx
$30.6M
Capital spending and related asset purchases.
FCF margin
37.7%
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 |
|---|---|---|---|---|---|
| 2024-09-30 | $1.2B | $325.5M | $17.8M | $307.7M | 25.1% |
| 2024-12-31 | $1.3B | $308.6M | $20.6M | $288.0M | 22.5% |
| 2025-03-31 | $1.3B | $578.7M | $20.8M | $557.9M | 43.2% |
| 2025-06-30 | $1.3B | $538.8M | $30.6M | $508.2M | 37.7% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 133.8% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 2.3% | Lower capital intensity usually supports FCF margin. |
| Net cash | $551.1M | Cash and equivalents minus total debt. |
Recent events shaping cash flow
Near-term business events that help explain the free cash flow result.
Year-over-year free cash flow growth
Free cash flow was higher than the same quarter last year, driven by higher operating cash flow despite a modest increase in capital expenditure.
This strengthened the free cash flow margin compared to the prior year period.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Operating cash flow was lower than the prior quarter but higher than a year ago. Capital expenditure increased sequentially, resulting in free cash flow that was lower than the prior quarter and higher than the same quarter last year.
Compared to the immediately preceding quarter, revenue was stable while free cash flow margin was lower. Compared to the same quarter one year earlier, revenue was higher and free cash flow margin was improved.
Monitor the trend in capital expenditure, which increased sequentially and may affect future free cash flow conversion.