Three-Statement Breakdown
FCF DOWN
Free cash flow fell 29% to $248.4M, and covered net income 0.95×.
CASH FROM OPS
-26.4%
272
CAPITAL EXPENDITURE
+9.0%
23
FREE CASH FLOW
-28.5%
248
FCF / NET INCOME
-32.2%
0.95×
| Cash flow | 24-09 | 24-12 | 25-03 | 25-06 | 25-09 | 26-01 | 26-04 | QoQ | YoY | TTM | 8Q | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income | 251 | 258 | 240 | 250 | 265 | 261 | 247 | 261 | +5.5% | +4.1% | 1,034 | ||
| Stock-based comp | 6 | 7 | 4 | 8 | 9 | 7 | 7 | 9 | +38.2% | +10.6% | 32 | ||
| Cash from operations |
|
274 | 294 | 298 | 237 | 278 | 268 | 369 | 272 | -26.4% | +14.5% | 1,186 | |
| Cash conversion |
|
1.09× | 1.14× | 1.24× | 0.95× | 1.05× | 1.03× | 1.49× | 1.04× | -30.2% | +9.9% | 1.15× | |
| Capital expenditures |
|
(20) | (18) | (23) | (20) | (20) | (14) | (21) | (23) | +9.0% | +17.3% | (78) | |
| Free cash flow |
|
254 | 275 | 276 | 218 | 258 | 255 | 348 | 248 | -28.5% | +14.2% | 1,108 | |
| FCF margin |
|
20.3% | 21.2% | 22.2% | 17.0% | 20.0% | 19.0% | 26.6% | 18.6% | -29.9% | +9.6% | 21.0% | |
| Cash from investing |
|
-40 | -40 | -32 | -46 | -21 | 26 | -29 | -195 | — | — | -219 | |
| Dividends paid |
|
98 | 112 | 112 | 112 | 112 | 127 | 127 | 126 | -0.3% | +13.1% | 491 | |
| Share repurchases |
|
60 | 112 | 87 | 79 | 82 | 80 | 100 | 91 | -8.5% | +15.7% | 354 | |
| Cash from financing |
|
-156 | -202 | -194 | -171 | -181 | -204 | -211 | -186 | — | — | -782 | |
| Net change in cash |
|
81 | 47 | 74 | 23 | 76 | 90 | 129 | -109 | — | — | 186 | |
| Ending cash balance |
|
1,313 | 1,360 | 1,435 | 1,458 | 1,534 | 1,624 | 1,753 | 1,645 | -6.2% | +12.8% | 1,645 | |
Click a line to select it — Enter or the EXPAND pill folds out its quarter-by-quarter history.
SELECTED · FREE CASH FLOW · QoQ BRIDGE
FROM348
CASH FROM OPERATIONS-97
CAPITAL EXPENDITURES-2
ROUNDING-1
TO248
No bridge for this line yet — select Free cash flow to see its QoQ walk.
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SRC 10-Q FILED 2026-07-23 ↗