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 a year ago. Free cash flow margin improved compared to both the prior quarter and the same quarter last year.
- Operating cash flow was higher than both the prior quarter and the year-ago quarter, while capital expenditure was higher than the prior quarter but lower than a year ago. Free cash flow was slightly lower than the prior quarter but higher than a year ago, with the free cash flow margin improving versus both periods.
- Compared to the prior quarter, revenue was lower and capital expenditure was higher, while operating cash flow was higher and free cash flow was slightly lower. Compared to the same quarter last year, revenue, operating cash flow, capital expenditure, and free cash flow were all higher.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$842.5M
Trailing twelve-month free cash flow.
Quarter free cash flow
$279.1M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$391.8M
Cash generated by operations before capital spending.
CapEx
$112.7M
Capital spending and related asset purchases.
FCF margin
40.5%
The share of revenue converted into free cash flow.
TTM FCF yield
n/a
TTM FCF divided by market capitalization.
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 | $694.0M | $165.0M | $45.2M | $119.8M | 17.3% |
| 2025-09-30 | $739.4M | $224.7M | $66.3M | $158.3M | 21.4% |
| 2025-12-31 | $846.8M | $311.6M | $26.3M | $285.3M | 33.7% |
| 2026-03-31 | $688.9M | $391.8M | $112.7M | $279.1M | 40.5% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 697.7% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 16.4% | 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, supporting free cash flow despite higher capital expenditure.
The free cash flow margin improved compared to both the prior quarter and the same quarter last 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 was higher than the prior quarter but lower than a year ago. Free cash flow was slightly lower than the prior quarter but higher than a year ago, with the free cash flow margin improving versus both periods.
Compared to the prior quarter, revenue was lower and capital expenditure was higher, while operating cash flow was higher and free cash flow was slightly lower. Compared to the same quarter last year, revenue, operating cash flow, capital expenditure, and free cash flow were all higher.
Monitor the trend in capital expenditure, which was higher than both the prior quarter and the year-ago quarter.
Valuation context
A cash-flow page should show how much investors are paying for the cash stream, without turning into a full DCF.
| Market capitalization | n/a | Used as the denominator for FCF yield. |
| TTM FCF yield | n/a | TTM free cash flow divided by market capitalization. |
| EV / TTM FCF | n/a | A quick valuation bridge, not a full DCF. |
Peer context
Free cash flow quality is easier to read against related public companies.