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
$574.7M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$628.9M
Cash generated by operations before capital spending.
CapEx
$54.2M
Capital spending and related asset purchases.
FCF margin
25.3%
The share of revenue converted into free cash flow.
TTM FCF yield
3.2%
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 | $628.9M | Cash generated by operations before capital spending. |
| Capital expenditures | $54.2M | Capital spending used to bridge CFO to FCF. |
| Free cash flow | $574.7M | 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 |
|---|---|---|---|---|---|
| 2025-07-31 | $1.7B | $671.0M | $38.6M | $632.4M | 36.3% |
| 2025-10-31 | $2.3B | $639.7M | $34.5M | $605.2M | 26.8% |
| 2026-01-31 | $2.4B | $856.8M | $35.3M | $821.5M | 34.1% |
| 2026-04-30 | $2.3B | $628.9M | $54.2M | $574.7M | 25.3% |
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. |