FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$416.0M
Trailing twelve-month free cash flow.
Quarter free cash flow
$471.0M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$1.0B
Cash generated by operations before capital spending.
CapEx
$577.0M
Capital spending and related asset purchases.
FCF margin
11.5%
The share of revenue converted into free cash flow.
FCF reconciliation
Free cash flow is not a GAAP line item; it should be bridged from the cash flow statement.
| Operating cash flow | $1.0B | Cash generated by operations before capital spending. |
| Capital expenditures | $577.0M | Capital spending used to bridge CFO to FCF. |
| Free cash flow | $471.0M | 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 |
|---|---|---|---|---|---|
| 2024-03-31 | $3.5B | $1.0B | $653.0M | $376.0M | 10.8% |
| 2024-06-30 | -$1.8B | $1.3B | $1.5B | -$263.0M | 14.7% |
| 2024-09-30 | $874.0M | $1.2B | $1.4B | -$168.0M | -19.2% |
| 2024-12-31 | $4.1B | $1.0B | $577.0M | $471.0M | 11.5% |
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. |