FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$2.7B
Trailing twelve-month free cash flow.
Quarter free cash flow
$91.8M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$364.5M
Cash generated by operations before capital spending.
CapEx
$272.7M
Capital spending and related asset purchases.
FCF margin
1.0%
The share of revenue converted into free cash flow.
TTM FCF yield
2.3%
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 | $364.5M | Cash generated by operations before capital spending. |
| Capital expenditures | $272.7M | Capital spending used to bridge CFO to FCF. |
| Free cash flow | $91.8M | 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 |
|---|---|---|---|---|---|
| 2025-06-29 | $9.5B | $1.0B | $567.4M | $434.3M | 4.6% |
| 2025-09-28 | $9.6B | $1.4B | $456.0M | $925.8M | 9.7% |
| 2025-12-28 | $9.9B | $1.6B | $323.7M | $1.3B | 12.8% |
| 2026-03-29 | $9.5B | $364.5M | $272.7M | $91.8M | 1.0% |
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. |