Three-Statement Breakdown
FCF DOWN
Free cash flow moved from -$1.2B to -$1.5B.
CASH FROM OPS
+18.2%
2,049
CAPITAL EXPENDITURE
+21.3%
3,561
FREE CASH FLOW
—
-1,512
FCF / NET INCOME
—
-1.26×
| Cash flow | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | YoY | TTM | 8Q | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income |
|
603 | 511 | 601 | 666 | 774 | 886 | 1,043 | 1,199 | +14.9% | 1,402 | |
| Depreciation & amortization |
|
361 | 391 | 430 | 478 | 536 | 604 | 670 | 735 | +9.7% | 778 | |
| Stock-based comp |
|
13 | 11 | 10 | 11 | 11 | 10 | 11 | 13 | +18.9% | — | |
| Cash from operations |
|
1,125 | 969 | 1,038 | -1,084 | 978 | 3,460 | 1,734 | 2,049 | +18.2% | 2,020 | |
| Cash conversion |
|
1.86× | 1.89× | 1.73× | -1.63× | 1.26× | 3.91× | 1.66× | 1.71× | +2.8% | 1.44× | |
| Capital expenditures |
|
(1,468) | (1,693) | (1,936) | (1,970) | (2,444) | (2,806) | (2,937) | (3,561) | +21.3% | — | |
| Free cash flow |
|
-343 | -725 | -898 | -3,054 | -1,467 | 654 | -1,203 | -1,512 | — | — | |
| FCF margin |
|
-11.0% | -25.0% | -31.8% | -89.6% | -34.9% | 15.3% | -28.9% | -32.2% | — | — | |
| Cash from investing |
|
-1,464 | -1,684 | -1,926 | -1,964 | -2,430 | -2,795 | -2,923 | -3,561 | — | -4,044 | |
| Dividends paid |
|
215 | 246 | 282 | 324 | 376 | 430 | 493 | 554 | +12.3% | 632 | |
| Debt repayment |
|
0 | 575 | 0 | 0 | 200 | 2,200 | 0 | 0 | — | 10 | |
| Cash from financing |
|
326 | 726 | 884 | 3,144 | 1,387 | -697 | 1,479 | 1,407 | -4.9% | 1,836 | |
| Net change in cash |
|
-13 | 11 | -4 | 96 | -65 | -32 | 290 | -105 | — | -188 | |
| Ending cash balance |
|
14 | 25 | 21 | 117 | 52 | 15 | 307 | 203 | -34.1% | 521 | |
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-1,203
CASH FROM OPERATIONS+316
CAPITAL EXPENDITURES-624
ROUNDING-1
TO-1,512
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 2026-08-05 ↗