Free cash flow takeaway
A quick read on the company's cash generation and what it means for investors.
Revenue increased from both the preceding quarter and the same quarter one year earlier. Free cash flow improved and the free cash flow margin strengthened, driven by higher operating cash flow and lower capital expenditure.
- Operating cash flow exceeded capital expenditure by a wider margin, resulting in higher free cash flow and an improved free cash flow margin.
- Revenue and operating cash flow were higher than the immediately preceding quarter and the same quarter last year. Capital expenditure was lower in both comparisons, contributing to a stronger free cash flow position.
FCF snapshot
Quarterly and TTM cash-flow metrics with the minimum valuation context.
TTM free cash flow
$379.1M
Trailing twelve-month free cash flow.
Quarter free cash flow
$133.9M
Free cash flow in the selected fiscal quarter.
Operating cash flow
$197.2M
Cash generated by operations before capital spending.
CapEx
$63.3M
Capital spending and related asset purchases.
FCF margin
16.6%
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 |
|---|---|---|---|---|---|
| 2024-12-31 | $748.8M | $190.1M | $104.9M | $85.2M | 11.4% |
| 2025-03-31 | $698.0M | $129.4M | $71.3M | $58.1M | 8.3% |
| 2025-06-30 | $766.5M | $177.1M | $75.2M | $101.9M | 13.3% |
| 2025-09-30 | $804.6M | $197.2M | $63.3M | $133.9M | 16.6% |
Cash conversion quality
Checks that separate high-quality free cash flow from accounting noise or working-capital timing.
| FCF / net income | 95.6% | Shows whether accounting earnings convert into cash. |
| CapEx / revenue | 7.9% | Lower capital intensity usually supports FCF margin. |
| Net cash | $425.8M | 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 rose compared to both prior periods, supported by favorable working capital management per the filing.
This was the primary contributor to the higher free cash flow margin.
What the cash flow says
How to interpret the company's free cash flow beyond the headline number.
Operating cash flow exceeded capital expenditure by a wider margin, resulting in higher free cash flow and an improved free cash flow margin.
Revenue and operating cash flow were higher than the immediately preceding quarter and the same quarter last year. Capital expenditure was lower in both comparisons, contributing to a stronger free cash flow position.
The trajectory of working capital management, which the filing cites as a key factor in operating cash flow improvement.