Target Free cash flow decreased by 85.2% to $149.00M in Q3 2025 compared to the prior quarter. Year-over-year, this metric grew by 77.4%, from $84.00M to $149.00M. Over 2 years (FY 2022 to FY 2025), Free cash flow shows a downward trend with a -6.1% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
An increase suggests strong operational efficiency and the ability to self-fund future innovation or return capital to shareholders, while a decrease may indicate heavy capital expenditure cycles or declining operational profitability.
Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and m...
High-growth semiconductor and AI infrastructure peers typically prioritize reinvestment, so free cash flow margins are often compared against R&D intensity and capital expenditure requirements of industry rivals.
cf_free_cash_flow| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $1.49B | $1.03B | $1.97B | -$2.35B | -$224.00M | -$1.20B | -$340.00M | $913.00M | $807.00M | $2.44B | $427.00M | $1.60B | $84.00M | $2.37B | -$515.00M | $1.01B | $149.00M |
| QoQ Change | — | -30.6% | +91.0% | -219.3% | +90.5% | -436.2% | +71.7% | +368.5% | -11.6% | +201.7% | -82.5% | +274.5% | -94.7% | >999% | -121.8% | +295.9% | -85.2% |
| YoY Change | — | — | — | — | -115.1% | -216.6% | +85.5% | +507.6% | +167.2% | — | +225.6% | +75.1% | -89.6% | -2.8% | -220.6% | -36.9% | +77.4% |