FFilingLens
Quarterly TTM Annual
Income Balance Cash flow
8Q

Three-Statement Breakdown

SRE
2026-06-30 · figures in $M

FCF DOWN

Free cash flow moved from -$652.0M to -$918.0M.

CASH FROM OPS -27.7%
1,308 46.7% MGN
CAPITAL EXPENDITURE -9.5%
2,226
FREE CASH FLOW —
-918
FCF / NET INCOME —
-1.15× TARGET >1.0×
Cash flow 24-09 24-12 25-03 25-06 25-09 25-12 26-03 QoQ YoY TTM 8Q
Net income
10-Q
649 676 917 473 95 352 1,037 797 -23.1% +68.5% 2,281 2024-09-30 · $649.0M2024-12-31 · $676.0M2025-03-31 · $917.0M2025-06-30 · $473.0M2025-09-30 · $95.0M2025-12-31 · $352.0M2026-03-31 · $1.0B2026-06-30 · $797.0M
Depreciation & amortization
10-Q
614 626 640 653 662 608 621 612 -1.4% -6.3% 2,503
Stock-based comp
22 23 -2 13 14 39 25 19 -24.0% +46.2% 97
Cash from operations
1,022 1,365 1,482 784 1,110 1,189 1,809 1,308 -27.7% +66.8% 5,416 2024-09-30 · $1.0B2024-12-31 · $1.4B2025-03-31 · $1.5B2025-06-30 · $784.0M2025-09-30 · $1.1B2025-12-31 · $1.2B2026-03-31 · $1.8B2026-06-30 · $1.3B
Cash conversion
1.57× 2.02× 1.62× 1.66× 11.68× 3.38× 1.74× 1.64× -5.9% -1.0% 2.37×
Capital expenditures
(1,935) (2,450) (2,336) (2,304) (2,561) (3,411) (2,461) (2,226) -9.5% -3.4% (10,659)
Free cash flow
-913 -1,085 -854 -1,520 -1,451 -2,222 -652 -918 — — -5,243 2024-09-30 · -$913.0M2024-12-31 · -$1.1B2025-03-31 · -$854.0M2025-06-30 · -$1.5B2025-09-30 · -$1.5B2025-12-31 · -$2.2B2026-03-31 · -$652.0M2026-06-30 · -$918.0M
FCF margin
-32.9% -28.9% -23.2% -56.3% -52.6% -67.7% -19.0% -32.8% — — -42.8%
Cash from investing
-2,128 -2,822 -2,785 -2,778 -3,042 -3,932 -3,311 -2,853 — — -13,138
Dividends paid
380 378 380 407 408 408 409 417 +2.0% +2.5% 1,642
Share repurchases
1 2 57 1 0 0 20 1 -95.0% +0.0% 21
Debt repayment
1,019 1,123 994 2,417 731 1,078 673 3,871 5.8× +60.2% 6,353
Cash from financing
1,448 2,358 1,476 415 4,770 3,269 1,912 282 -85.3% -32.0% 10,233
Net change in cash
339 899 173 -1,578 2,841 527 407 -1,259 — — 2,516
Ending cash balance
560 1,565 1,739 155 5 29 794 48 -94.0% -69.0% 48

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SELECTED · FREE CASH FLOW · QoQ BRIDGE
FROM-652 CASH FROM OPERATIONS-501 CAPITAL EXPENDITURES+235 TO-918
↹ CLICK A LINE TO SELECT · ⌘F FIND LINE ITEM SRC 10-Q FILED 2026-08-06 ↗