Three-Statement Breakdown
FCF DOWN
Free cash flow fell 31% to $408.0M.
CASH FROM OPS
-30.5%
449
CAPITAL EXPENDITURE
-20.1%
41
FREE CASH FLOW
-31.3%
408
FCF / NET INCOME
+125.0%
4.18×
| Cash flow | 24-09 | 24-12 | 25-03 | 25-06 | 25-09 | 25-12 | 26-03 | QoQ | YoY | TTM | 8Q | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income | 388 | 267 | 240 | 635 | 466 | -49 | 320 | 98 | -69.5% | -84.6% | 835 | ||
| Depreciation & amortization |
|
183 | 184 | 183 | 194 | 202 | 200 | 204 | 236 | +15.5% | +21.5% | 843 | |
| Stock-based comp |
|
73 | 75 | 81 | 75 | 75 | 60 | 84 | 77 | -7.9% | +3.3% | 296 | |
| Cash from operations |
|
936 | 761 | 259 | 161 | 1,272 | 512 | 646 | 449 | -30.5% | +179.0% | 2,879 | |
| Cash conversion |
NOT DISCLOSED
|
2.41× | 2.85× | 1.08× | 0.25× | 2.73× | — | 2.02× | 4.60× | +127.9% | +1716.5% | 3.45× | |
| Capital expenditures |
|
(35) | (39) | (37) | (27) | (46) | (44) | (51) | (41) | -20.1% | +53.8% | (182) | |
| Free cash flow |
|
901 | 722 | 222 | 134 | 1,226 | 468 | 594 | 408 | -31.3% | 3.0× | 2,697 | |
| FCF margin |
|
36.5% | 29.4% | 9.1% | 5.1% | 48.4% | 20.5% | 24.0% | 14.9% | -37.8% | +193.7% | 26.9% | |
| Cash from investing |
|
-1,181 | -19 | -47 | -57 | -35 | -1,232 | -210 | -3,839 | — | — | -5,316 | |
| Debt repayment |
NOT DISCLOSED
|
0 | 0 | 0 | 1,750 | 0 | 0 | — | — | — | — | — | |
| Cash from financing |
|
-7 | 8 | -23 | -12 | -130 | -137 | -44 | 1,296 | — | — | 985 | |
| Net change in cash |
|
-252 | 750 | 189 | 92 | 1,107 | -857 | 392 | -2,094 | — | — | -1,452 | |
| Ending cash balance |
|
1,699 | 2,375 | 2,598 | 2,759 | 3,863 | 3,008 | 3,383 | 1,285 | -62.0% | -53.4% | 1,285 | |
Click a line to select it — Enter or the EXPAND pill folds out its quarter-by-quarter history.
SELECTED · FREE CASH FLOW · QoQ BRIDGE
FROM594
CASH FROM OPERATIONS-197
CAPITAL EXPENDITURES+10
ROUNDING+1
TO408
No bridge for this line yet — select Free cash flow to see its QoQ walk.
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SRC 10-Q FILED 2026-07-29 ↗