FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$725.6M
Trailing twelve-month free cash flow.
Quarter free cash flow
-$447.3M
Free cash flow in the selected fiscal quarter.
Operating cash flow
-$388.8M
Cash generated by operations before capital spending.
CapEx
$58.5M
Capital spending and related asset purchases.
FCF margin
-11.6%
The share of revenue converted into free cash flow.
TTM FCF yield
5.3%
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 | -$388.8M | Cash generated by operations before capital spending. |
| Capital expenditures | $58.5M | Capital spending used to bridge CFO to FCF. |
| Free cash flow | -$447.3M | 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 |
|---|---|---|---|---|---|
| 2025-06-28 | $3.9B | $214.3M | $79.6M | $134.7M | 3.4% |
| 2025-09-27 | $3.8B | $221.2M | $65.9M | $155.3M | 4.1% |
| 2026-01-03 | $3.7B | $955.7M | $72.8M | $882.9M | 24.0% |
| 2026-04-04 | $3.8B | -$388.8M | $58.5M | -$447.3M | -11.6% |
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. |