Three-Statement Breakdown
FCF DOWN
Free cash flow fell 3.1% to $1.1B, and covered net income 1.20×.
CASH FROM OPS
-0.1%
1,191
CAPITAL EXPENDITURE
+40.1%
117
FREE CASH FLOW
-3.1%
1,074
FCF / NET INCOME
-11.3%
1.20×
| Cash flow | FY 2018 | FY 2019 | FY 2021 | FY 2022 | FY 2023 | FY 2023 | FY 2024 | YoY | TTM | 8Q | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income |
|
334 | 402 | 402 | 445 | 789 | 886 | 819 | 895 | +9.2% | 975 | |
| Depreciation & amortization |
|
113 | 112 | 116 | 372 | 332 | 316 | 310 | 336 | +8.5% | 342 | |
| Cash from operations |
|
447 | 482 | 619 | 825 | 487 | 836 | 1,192 | 1,191 | -0.1% | 1,271 | |
| Cash conversion |
|
1.34× | 1.20× | 1.54× | 1.85× | 0.62× | 0.94× | 1.45× | 1.33× | -8.5% | 1.30× | |
| Capital expenditures |
|
(87) | (88) | (71) | (102) | (93) | (115) | (84) | (117) | +40.1% | (129) | |
| Free cash flow |
|
360 | 394 | 548 | 723 | 394 | 721 | 1,108 | 1,074 | -3.1% | 1,142 | |
| FCF margin |
|
12.4% | 12.4% | 17.7% | 15.7% | 7.2% | 12.8% | 19.5% | 17.6% | -10.1% | 17.9% | |
| Cash from investing |
|
-89 | -572 | -99 | -3,824 | -175 | -190 | -207 | -938 | — | -252 | |
| Share repurchases |
NOT DISCLOSED
|
— | — | — | — | 0 | 0 | 354 | 403 | +13.8% | — | |
| Debt repayment |
|
136 | 137 | 101 | 1,142 | 185 | 554 | 151 | 2 | -98.8% | — | |
| Cash from financing |
|
-271 | 142 | -62 | 2,807 | -110 | -652 | -946 | -555 | — | -987 | |
| Net change in cash |
|
72 | 57 | 474 | -198 | 163 | 10 | 2 | -297 | — | 29 | |
| Ending cash balance |
|
142 | 200 | 673 | 475 | 638 | 648 | 650 | 352 | -45.8% | 340 | |
Click a line to select it — Enter or the EXPAND pill folds out its quarter-by-quarter history.
SELECTED · FREE CASH FLOW · QoQ BRIDGE
FROM1,108
CASH FROM OPERATIONS-1
CAPITAL EXPENDITURES-34
ROUNDING+1
TO1,074
No bridge for this line yet — select Free cash flow to see its QoQ walk.
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SRC 10-Q FILED 2026-07-24 ↗