FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$480.5M
Trailing twelve-month free cash flow.
Quarter free cash flow
$268.6M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$274.7M
Cash generated by operations before capital spending.
CapEx
$6.1M
Capital spending and related asset purchases.
FCF margin
28.6%
The share of revenue converted into free cash flow.
TTM FCF yield
4.0%
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 | $274.7M | Cash generated by operations before capital spending. |
| Capital expenditures | $6.1M | Capital spending used to bridge CFO to FCF. |
| Free cash flow | $268.6M | 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 |
|---|---|---|---|---|---|
| 2025-07-04 | $875.7M | -$53.5M | $5.9M | -$59.4M | -6.8% |
| 2025-10-03 | $901.2M | $123.8M | $7.2M | $116.6M | 12.9% |
| 2026-01-02 | $969.8M | $160.3M | $5.6M | $154.7M | 16.0% |
| 2026-04-03 | $939.9M | $274.7M | $6.1M | $268.6M | 28.6% |
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. |