Three-Statement Breakdown
FCF DOWN
Free cash flow moved from -$885.0M to -$1.1B — the lowest of its last 8 readings.
CASH FROM OPS
+0.2%
1,169
CAPITAL EXPENDITURE
+11.0%
2,277
FREE CASH FLOW
—
-1,108
FCF / NET INCOME
—
-1.37×
| Cash flow | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | YoY | TTM | 8Q | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income |
|
522 | 567 | 624 | 674 | 686 | 703 | 690 | 810 | +17.4% | 817 | |
| Depreciation & amortization |
|
507 | 567 | 615 | 657 | 671 | 676 | 772 | 846 | +9.6% | 870 | |
| Cash from operations |
|
528 | 660 | 501 | 582 | 486 | 867 | 1,167 | 1,169 | +0.2% | 1,158 | |
| Cash conversion |
|
1.01× | 1.16× | 0.80× | 0.86× | 0.71× | 1.23× | 1.69× | 1.44× | -14.7% | 1.42× | |
| Capital expenditures |
|
(1,634) | (1,640) | (1,366) | (1,169) | (1,484) | (1,731) | (2,052) | (2,277) | +11.0% | (1,469) | |
| Free cash flow |
|
-1,106 | -980 | -865 | -587 | -998 | -864 | -885 | -1,108 | — | -311 | |
| FCF margin |
|
-31.3% | -26.9% | -25.3% | -16.0% | -23.7% | -21.5% | -22.2% | -25.4% | — | -7.0% | |
| Cash from investing |
|
-1,067 | -1,287 | -951 | -728 | -933 | -1,401 | -1,547 | -1,896 | — | -1,797 | |
| Dividends paid |
|
312 | 337 | 377 | 403 | 428 | 456 | 492 | 521 | +5.9% | 534 | |
| Debt repayment |
|
856 | 256 | 657 | 8 | 633 | 508 | 809 | 300 | -62.9% | 1,375 | |
| Cash from financing |
|
531 | 619 | 488 | 130 | 431 | 573 | 398 | 1,202 | 3.0× | 335 | |
| Net change in cash |
|
-8 | -8 | 38 | -16 | -16 | 39 | 18 | 475 | 26.4× | -304 | |
| Ending cash balance |
|
21 | 16 | 54 | 39 | 20 | 62 | 81 | 556 | +586.4% | 25 | |
Click a line to select it — Enter or the EXPAND pill folds out its quarter-by-quarter history.
SELECTED · FREE CASH FLOW · QoQ BRIDGE
FROM-885
CASH FROM OPERATIONS+2
CAPITAL EXPENDITURES-225
TO-1,108
No bridge for this line yet — select Free cash flow to see its QoQ walk.
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SRC 10-Q FILED 2026-07-31 ↗