Three-Statement Breakdown
FCF DOWN
Free cash flow fell 18% to $638.8M, and covered net income 0.79×.
CASH FROM OPS
-19.9%
758
CAPITAL EXPENDITURE
-27.4%
119
FREE CASH FLOW
-18.3%
639
FCF / NET INCOME
-17.8%
0.79×
| Cash flow | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | YoY | TTM | 8Q | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income | 359 | 409 | 356 | 464 | 497 | 591 | 811 | 806 | -0.7% | 789 | ||
| Depreciation & amortization |
|
66 | 71 | 73 | 72 | 78 | 86 | 95 | 112 | +18.3% | 122 | |
| Stock-based comp |
|
26 | 21 | 24 | 24 | 22 | 30 | 28 | 29 | +2.1% | 27 | |
| Cash from operations |
|
496 | 396 | 612 | 516 | 302 | 736 | 946 | 758 | -19.9% | 895 | |
| Cash conversion |
|
1.38× | 0.97× | 1.72× | 1.11× | 0.61× | 1.25× | 1.17× | 0.94× | -19.4% | 1.13× | |
| Capital expenditures |
|
(95) | (106) | (78) | (107) | (101) | (250) | (164) | (119) | -27.4% | (156) | |
| Free cash flow |
|
400 | 290 | 534 | 409 | 201 | 486 | 782 | 639 | -18.3% | 739 | |
| FCF margin |
|
10.3% | 7.6% | 14.7% | 9.7% | 4.3% | 9.8% | 14.6% | 12.3% | -16.0% | 13.9% | |
| Cash from investing |
|
30 | 16 | -80 | -106 | -103 | -320 | -174 | -656 | — | -694 | |
| Dividends paid |
|
94 | 110 | 118 | 126 | 142 | 153 | 160 | 173 | +7.9% | 182 | |
| Share repurchases |
|
450 | 400 | 100 | 600 | 300 | 0 | 54 | 482 | 9.0× | 339 | |
| Debt repayment |
|
3 | 6 | 11 | 12 | 13 | 0 | 0 | 300 | — | 21 | |
| Cash from financing |
|
-538 | -423 | -442 | -499 | -174 | -406 | -419 | -466 | — | -174 | |
| Net change in cash |
|
-12 | -11 | 91 | -90 | 25 | 10 | 353 | -364 | — | 27 | |
| Ending cash balance |
|
46 | 37 | 124 | 31 | 53 | 61 | 415 | 34 | -91.8% | 52 | |
Click a line to select it — Enter or the EXPAND pill folds out its quarter-by-quarter history.
SELECTED · FREE CASH FLOW · QoQ BRIDGE
FROM782
CASH FROM OPERATIONS-188
CAPITAL EXPENDITURES+45
TO639
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SRC 10-Q FILED 2026-07-29 ↗