Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Revenue was lower than the prior quarter but higher than the same quarter last year. Free cash flow margin improved compared to both the prior quarter and the year-ago quarter.
- Operating cash flow was higher than both the prior quarter and the year-ago quarter, while capital expenditure increased compared to both periods. Free cash flow rose relative to the prior quarter and the year-ago quarter, and free cash flow margin improved sequentially and year-over-year.
- Compared to the prior quarter, revenue was lower but operating cash flow and free cash flow were higher, with capital expenditure significantly higher. Compared to the same quarter last year, revenue, operating cash flow, and free cash flow were all higher, while capital expenditure was also higher.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$695.3M
Trailing twelve-month free cash flow.
Quarter free cash flow
$232.3M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$291.4M
Cash generated by operations before capital spending.
CapEx
$59.1M
Capital spending and related asset purchases.
FCF margin
37.7%
The share of revenue converted into free cash flow.
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 |
|---|---|---|---|---|---|
| 2024-06-30 | $584.5M | $81.3M | $22.1M | $59.1M | 10.1% |
| 2024-09-30 | $628.0M | $273.3M | $48.7M | $224.6M | 35.8% |
| 2024-12-31 | $741.0M | $199.4M | $20.2M | $179.2M | 24.2% |
| 2025-03-31 | $616.0M | $291.4M | $59.1M | $232.3M | 37.7% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 458.4% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 9.6% | Lower capital intensity usually supports FCF margin. |
| Net cash | n/a | Cash and equivalents minus total debt. |
Recent events shaping cash flow
Near-term business events that help explain the free cash flow result.
Operating Cash Flow Strength
Operating cash flow was higher than both the prior quarter and the year-ago quarter, providing the primary support for free cash flow improvement despite higher capital expenditure.
The higher operating cash flow drove free cash flow margin higher sequentially and year-over-year.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Operating cash flow was higher than both the prior quarter and the year-ago quarter, while capital expenditure increased compared to both periods. Free cash flow rose relative to the prior quarter and the year-ago quarter, and free cash flow margin improved sequentially and year-over-year.
Compared to the prior quarter, revenue was lower but operating cash flow and free cash flow were higher, with capital expenditure significantly higher. Compared to the same quarter last year, revenue, operating cash flow, and free cash flow were all higher, while capital expenditure was also higher.
Monitor the trend in capital expenditure, which increased substantially compared to both the prior quarter and the year-ago quarter.