Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Revenue was stable with the prior quarter while operating cash flow decreased significantly, causing free cash flow to fall. Free cash flow margin weakened compared to both the prior quarter and the same quarter last year.
- Revenue was stable versus the prior quarter, but operating cash flow was lower, pulling free cash flow down. The free cash flow margin was the lowest of the three periods shown, reflecting a weaker cash conversion from revenue.
- Revenue was essentially unchanged from the prior quarter but higher than a year ago. Operating cash flow, free cash flow, and free cash flow margin were all lower sequentially and versus the same quarter last year. Capital expenditure was slightly lower than the prior quarter and notably lower than a year ago.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$952.1M
Trailing twelve-month free cash flow.
Quarter free cash flow
$19.6M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$96.5M
Cash generated by operations before capital spending.
CapEx
$77.0M
Capital spending and related asset purchases.
FCF margin
0.7%
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 |
|---|---|---|---|---|---|
| 2024-11-02 | $2.5B | -$56.8M | $114.2M | -$171.1M | -6.8% |
| 2025-02-01 | $3.5B | $1.0B | $73.9M | $962.6M | 27.6% |
| 2025-05-03 | $2.8B | $220.0M | $79.0M | $141.0M | 4.9% |
| 2025-08-02 | $2.8B | $96.5M | $77.0M | $19.6M | 0.7% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 7.5% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 2.8% | 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 decline
Operating cash flow was lower than both the prior quarter and the same quarter a year earlier, despite revenue being higher year over year. This was the primary factor behind the drop in free cash flow and free cash flow margin.
Free cash flow was lower sequentially and year over year, driven by reduced cash generation from operations.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Revenue was stable versus the prior quarter, but operating cash flow was lower, pulling free cash flow down. The free cash flow margin was the lowest of the three periods shown, reflecting a weaker cash conversion from revenue.
Revenue was essentially unchanged from the prior quarter but higher than a year ago. Operating cash flow, free cash flow, and free cash flow margin were all lower sequentially and versus the same quarter last year. Capital expenditure was slightly lower than the prior quarter and notably lower than a year ago.
Monitor operating cash flow, which declined more than revenue from both the prior quarter and the year-ago quarter.