Three-Statement Breakdown
FCF DOWN
Free cash flow fell 4.5% to $694.9M, and covered net income 1.38×.
CASH FROM OPS
-3.1%
762
CAPITAL EXPENDITURE
+14.1%
67
FREE CASH FLOW
-4.5%
695
FCF / NET INCOME
-1.4%
1.38×
| Cash flow | TTM 24-09 | TTM 24-12 | TTM 25-03 | TTM 25-06 | TTM 25-09 | TTM 25-12 | TTM 26-03 | vs prior TTM | YoY | TTM | 8Q | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income |
|
399 | 405 | 429 | 456 | 481 | 507 | 519 | 503 | -3.2% | +10.3% | 503 | |
| Stock-based comp |
|
28 | 29 | 29 | 28 | 28 | 28 | 29 | 32 | +12.2% | +14.3% | 32 | |
| Cash from operations |
|
528 | 536 | 546 | 642 | 645 | 708 | 786 | 762 | -3.1% | +18.8% | 762 | |
| Cash conversion |
|
1.32× | 1.32× | 1.27× | 1.41× | 1.34× | 1.40× | 1.51× | 1.52× | +0.0% | +7.7% | 1.52× | |
| Capital expenditures |
|
(63) | (63) | (65) | (53) | (49) | (54) | (59) | (67) | +14.1% | +25.8% | (67) | |
| Free cash flow |
|
464 | 473 | 481 | 588 | 596 | 654 | 728 | 695 | -4.5% | +18.1% | 695 | |
| FCF margin |
|
20.7% | 20.8% | 20.7% | 24.8% | 24.6% | 26.5% | 28.9% | 27.3% | -5.6% | +10.3% | 27.3% | |
| Cash from investing |
|
-248 | -249 | -252 | -232 | -272 | -268 | -276 | -278 | — | — | -278 | |
| Dividends paid |
|
158 | 160 | 163 | 165 | 167 | 168 | 170 | 170 | +0.5% | +3.5% | 170 | |
| Share repurchases |
|
8 | 25 | 43 | 35 | 97 | 143 | 284 | 448 | +57.6% | 12.8× | 448 | |
| Cash from financing |
|
-268 | -288 | -282 | -346 | -380 | -437 | -530 | -574 | — | — | -574 | |
| Net change in cash |
|
12 | -1 | 13 | 64 | -7 | 3 | -19 | -90 | — | — | -90 | |
| Ending cash balance |
|
43 | 26 | 40 | 102 | 36 | 28 | 21 | 12 | -41.4% | -88.2% | 12 | |
Click a line to select it — Enter or the EXPAND pill folds out its quarter-by-quarter history.
SELECTED · FREE CASH FLOW · QoQ BRIDGE
FROM728
CASH FROM OPERATIONS-24
CAPITAL EXPENDITURES-8
ROUNDING-1
TO695
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-K FILED 2026-08-28 ↗