Three-Statement Breakdown
FCF DOWN
Free cash flow fell 43% to $853.3M, and covered net income 1.96×.
CASH FROM OPS
-35.1%
1,216
CAPITAL EXPENDITURE
-4.7%
363
FREE CASH FLOW
-42.8%
853
FCF / NET INCOME
+41.6%
1.96×
| Cash flow | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | YoY | TTM | 8Q | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income |
|
205 | 222 | 314 | 1,725 | 2,749 | 1,541 | 1,078 | 435 | -59.6% | 103 | |
| Depreciation & amortization |
|
98 | 100 | 117 | 547 | 497 | 558 | 562 | 591 | +5.3% | 597 | |
| Stock-based comp |
|
14 | 12 | 17 | 31 | 31 | 49 | 63 | 54 | -15.2% | 44 | |
| Cash from operations |
|
283 | 504 | 260 | 1,744 | 3,599 | 2,307 | 1,873 | 1,216 | -35.1% | 898 | |
| Cash conversion |
|
1.38× | 2.27× | 0.83× | 1.01× | 1.31× | 1.50× | 1.74× | 2.79× | +60.8% | 8.76× | |
| Capital expenditures |
|
(101) | (113) | (112) | (228) | (340) | (476) | (381) | (363) | -4.7% | (259) | |
| Free cash flow |
|
181 | 391 | 148 | 1,516 | 3,259 | 1,831 | 1,492 | 853 | -42.8% | 639 | |
| FCF margin |
|
2.3% | 5.4% | 1.7% | 7.6% | 14.3% | 10.7% | 9.1% | 5.6% | -38.3% | 4.4% | |
| Cash from investing |
|
-97 | -199 | -136 | -1,345 | -957 | -668 | -711 | -1,467 | — | -515 | |
| Share repurchases |
|
5 | 10 | 4 | 1,715 | 2,593 | 1,812 | 1,517 | 414 | -72.7% | 304 | |
| Debt repayment |
|
65 | 611 | 619 | 555 | 616 | 4 | 3 | 3 | -16.2% | 10 | |
| Cash from financing |
|
-234 | -301 | 286 | -780 | -2,604 | -1,653 | -1,075 | 279 | — | -405 | |
| Net change in cash |
|
-47 | 4 | 410 | -381 | 38 | -14 | 87 | 28 | -67.8% | -21 | |
| Ending cash balance |
|
10 | 14 | 424 | 43 | 80 | 66 | 154 | 182 | +18.3% | 66 | |
Click a line to select it — Enter or the EXPAND pill folds out its quarter-by-quarter history.
SELECTED · FREE CASH FLOW · QoQ BRIDGE
FROM1,492
CASH FROM OPERATIONS-657
CAPITAL EXPENDITURES+18
TO853
No bridge for this line yet — select Free cash flow to see its QoQ walk.
↹ CLICK A LINE TO SELECT · ⌘F FIND LINE ITEM
SRC 10-Q FILED 2026-07-30 ↗