FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
-$6.3B
Trailing twelve-month free cash flow.
Quarter free cash flow
-$2.4B
Free cash flow in the selected fiscal quarter.
Operating cash flow
-$2.3B
Cash generated by operations before capital spending.
CapEx
$67.6M
Capital spending and related asset purchases.
FCF margin
-1839.7%
The share of revenue converted into free cash flow.
TTM FCF yield
-27.2%
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 | -$2.3B | Cash generated by operations before capital spending. |
| Capital expenditures | $67.6M | Capital spending used to bridge CFO to FCF. |
| Free cash flow | -$2.4B | 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 |
|---|---|---|---|---|---|
| 2025-06-30 | $151.9M | -$1.5B | $63.5M | -$1.5B | -1007.6% |
| 2025-09-30 | $156.8M | -$1.3B | $60.0M | -$1.4B | -871.1% |
| 2025-12-31 | $170.3M | -$991.2M | $66.4M | -$1.1B | -621.0% |
| 2026-03-31 | $129.5M | -$2.3B | $67.6M | -$2.4B | -1839.7% |
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. |