FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$3.0B
Trailing twelve-month free cash flow.
Quarter free cash flow
-$319.0M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$716.0M
Cash generated by operations before capital spending.
CapEx
$1.0B
Capital spending and related asset purchases.
FCF margin
-1.3%
The share of revenue converted into free cash flow.
TTM FCF yield
4.8%
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 | $716.0M | Cash generated by operations before capital spending. |
| Capital expenditures | $1.0B | Capital spending used to bridge CFO to FCF. |
| Free cash flow | -$319.0M | 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 | $25.2B | $2.1B | $1.1B | $1.0B | 4.0% |
| 2025-11-01 | $25.3B | $1.1B | $978.0M | $149.0M | 0.6% |
| 2026-01-31 | $30.5B | $3.1B | $885.0M | $2.2B | 7.2% |
| 2026-05-02 | $25.4B | $716.0M | $1.0B | -$319.0M | -1.3% |
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. |