Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Revenue was stable compared to both the prior quarter and the same quarter a year earlier. Operating cash flow improved, driving higher free cash flow and an improved free cash flow margin.
- With revenue unchanged, higher operating cash flow lifted free cash flow and free cash flow margin. Capital expenditure was higher than the prior quarter but matched the year‑ago level, supporting the conversion gain.
- Compared to the prior quarter, operating cash flow, free cash flow, and free cash flow margin all improved. Compared to the same quarter a year ago, operating cash flow and free cash flow were higher, and the margin was slightly stronger.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$820.0M
Trailing twelve-month free cash flow.
Quarter free cash flow
$263.0M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$285.0M
Cash generated by operations before capital spending.
CapEx
$22.0M
Capital spending and related asset purchases.
FCF margin
19.6%
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 |
|---|---|---|---|---|---|
| 2024-03-29 | $1.2B | $115.0M | $13.0M | $102.0M | 8.2% |
| 2024-06-28 | $1.3B | $251.0M | $11.0M | $240.0M | 18.6% |
| 2024-09-27 | $1.3B | $224.0M | $9.0M | $215.0M | 16.4% |
| 2024-12-31 | $1.3B | $285.0M | $22.0M | $263.0M | 19.6% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 115.9% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 1.6% | Lower capital intensity usually supports FCF margin. |
| Net cash | -$1.5B | Cash and equivalents minus total debt. |
Recent events shaping cash flow
Near-term business events that help explain the free cash flow result.
Cash conversion efficiency
Operating cash flow rose while revenue held steady, producing a higher free cash flow margin. This indicates improved conversion of revenue into cash.
The company generated more free cash per dollar of revenue compared to both prior periods.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
With revenue unchanged, higher operating cash flow lifted free cash flow and free cash flow margin. Capital expenditure was higher than the prior quarter but matched the year‑ago level, supporting the conversion gain.
Compared to the prior quarter, operating cash flow, free cash flow, and free cash flow margin all improved. Compared to the same quarter a year ago, operating cash flow and free cash flow were higher, and the margin was slightly stronger.
Monitor the relationship between capital expenditure and operating cash flow, as the quarter saw a notable change in capital spending relative to the prior period.