FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$2.6B
Trailing twelve-month free cash flow.
Quarter free cash flow
$627.1M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$836.0M
Cash generated by operations before capital spending.
CapEx
$209.0M
Capital spending and related asset purchases.
FCF margin
10.4%
The share of revenue converted into free cash flow.
TTM FCF yield
3.6%
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 | $836.0M | Cash generated by operations before capital spending. |
| Capital expenditures | $209.0M | Capital spending used to bridge CFO to FCF. |
| Free cash flow | $627.1M | 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 |
|---|---|---|---|---|---|
| 2025-08-02 | $5.5B | $668.4M | $201.7M | $466.6M | 8.4% |
| 2025-11-01 | $5.6B | $827.1M | $209.3M | $617.8M | 11.0% |
| 2026-01-31 | $6.6B | $1.1B | $200.9M | $920.8M | 13.9% |
| 2026-05-02 | $6.0B | $836.0M | $209.0M | $627.1M | 10.4% |
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. |