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Free Cash Flow

The cash a company generates after accounting for capital expenditures. The real money left over to pay dividends, buy back shares, reduce debt, or reinvest.

Read more: Mastering Free Cash Flow: Essential Insights for Investors →

Formula

FCF = Operating Cash Flow − Capital Expenditures
Apple generated ~$118B in operating cash flow in FY2024, spent ~$9B on capex, yielding ~$109B in FCF.

How to Interpret

Positive FCF means the company generates more cash than it spends on operations and investments. Negative FCF isn't always bad — high-growth companies often invest heavily — but sustained negative FCF is a red flag.

Why It Matters

FCF is harder to manipulate than net income or EBITDA. It represents actual cash, not accounting profit. Warren Buffett famously focuses on "owner earnings," which is essentially FCF. A company can report profits while burning cash — FCF reveals the truth.

Top 10

Bottom 10

Free Cash Flow by Company

All 99 tracked stocks with reported Free Cash Flow, ranked highest first on the latest quarter each has reported.

1 SK hynix Inc. SKHY SK hynix Inc. +1032.3% YoY FCF$35.93B2026Q2 2 Micron Technology, Inc. MU Micron Technology, Inc. FCF$32.86BFY2026Q4 3 Apple Inc. AAPL Apple Inc. +30.8% YoY FCF$31.91B2026Q2 4 Bank of America Corporation BAC Bank of America Corporation FCF$29.04B2026Q2 5 NVIDIA Corporation NVDA NVIDIA Corporation +58.9% YoY FCF$21.40BFY2027Q2 6 JPMorgan Chase & Co. JPM JPMorgan Chase & Co. +41.8% YoY FCF$20.75B2026Q2 7 Microsoft Corporation MSFT Microsoft Corporation −23.2% YoY FCF$19.64B2026Q2 8 Chevron Corporation CVX Chevron Corporation +272.0% YoY FCF$18.09B2026Q2 9 Broadcom Inc. AVGO Broadcom Inc. +94.5% YoY FCF$13.66B2026Q3 10 UnitedHealth Group Incorporated UNH UnitedHealth Group Incorporated +62.7% YoY FCF$10.25B2026Q2 11 Taiwan Semiconductor Manufacturing Company Limited TSM Taiwan Semiconductor Manufacturing Company Limited +41.3% YoY FCF$9.09B2026Q2 12 Eli Lilly and Company LLY Eli Lilly and Company +458.1% YoY FCF$7.76B2026Q2 13 Walmart Inc. WMT Walmart Inc. +14.4% YoY FCF$7.47BFY2027Q2 14 Johnson & Johnson JNJ Johnson & Johnson +152.6% YoY FCF$7.29B2026Q2 15 Sandisk Corporation SNDK Sandisk Corporation FCF$7.08BFY2026Q4 16 Exxon Mobil Corporation XOM Exxon Mobil Corporation −46.3% YoY FCF$6.20B2025Q3 17 Visa Inc. V Visa Inc. −2.7% YoY FCF$6.14BFY2026Q3 18 The Goldman Sachs Group, Inc. GS The Goldman Sachs Group, Inc. FCF$5.60B2026Q2 19 Berkshire Hathaway Inc. Class B BRK-B Berkshire Hathaway Inc. Class B +6.6% YoY FCF$5.57B2026Q2 20 GE Vernova Inc. GEV GE Vernova Inc. +2532.0% YoY FCF$5.11B2026Q2 21 The Coca-Cola Company KO The Coca-Cola Company +51.5% YoY FCF$5.10B2026Q2 22 Cisco Systems, Inc. CSCO Cisco Systems, Inc. +24.4% YoY FCF$5.00BFY2026Q4 23 Siemens AG SIEGY Siemens AG +41.9% YoY FCF$4.83BFY2026Q3 24 The Home Depot, Inc. HD The Home Depot, Inc. +21.0% YoY FCF$4.51BFY2026Q2 25 Intel Corporation INTC Intel Corporation FCF$4.45B2026Q2 26 The Charles Schwab Corporation SCHW The Charles Schwab Corporation +35.0% YoY FCF$4.12B2026Q2 27 The Procter & Gamble Company PG The Procter & Gamble Company +1.9% YoY FCF$4.11B2026Q2 28 Mastercard Incorporated MA Mastercard Incorporated −23.7% YoY FCF$3.48B2026Q2 29 AbbVie Inc. ABBV AbbVie Inc. −36.2% YoY FCF$3.11B2026Q2 30 GE Aerospace GE GE Aerospace +44.6% YoY FCF$2.92B2026Q2 31 Uber Technologies, Inc. UBER Uber Technologies, Inc. +12.8% YoY FCF$2.79B2026Q2 32 Occidental Petroleum Corporation OXY Occidental Petroleum Corporation +178.8% YoY FCF$2.68B2026Q2 33 Costco Wholesale Corporation COST Costco Wholesale Corporation +30.7% YoY FCF$2.48BFY2026Q4 34 Adobe Inc. ADBE Adobe Inc. +14.7% YoY FCF$2.44B2026Q3 35 PayPal Holdings, Inc. PYPL PayPal Holdings, Inc. +156.5% YoY FCF$1.77B2026Q2 36 Meta Platforms, Inc. META Meta Platforms, Inc. −80.6% YoY FCF$1.75B2026Q2 37 Advanced Micro Devices, Inc. AMD Advanced Micro Devices, Inc. −9.9% YoY FCF$1.56B2026Q2 38 Netflix, Inc. NFLX Netflix, Inc. −32.7% YoY FCF$1.52B2026Q2 39 Amcor plc AMCR Amcor plc +52.1% YoY FCF$1.36BFY2026Q4 40 Corning Incorporated GLW Corning Incorporated +223.7% YoY FCF$1.29B2026Q2 41 Palo Alto Networks, Inc. PANW Palo Alto Networks, Inc. +34.2% YoY FCF$1.25BFY2026Q4 42 Palantir Technologies Inc. PLTR Palantir Technologies Inc. +126.0% YoY FCF$1.20B2026Q2 43 Salesforce, Inc. CRM Salesforce, Inc. +81.5% YoY FCF$1.10B2026Q3 44 Dell Technologies Inc. DELL Dell Technologies Inc. −47.2% YoY FCF$986MFY2027Q2 45 Block, Inc. XYZ Block, Inc. +181.8% YoY FCF$967M2026Q2 46 Vertiv Holdings Co VRT Vertiv Holdings Co +233.3% YoY FCF$926M2026Q2 47 DoorDash, Inc. DASH DoorDash, Inc. +101.6% YoY FCF$883M2026Q2 48 Super Micro Computer, Inc. SMCI Super Micro Computer, Inc. −14.5% YoY FCF$719MFY2026Q4 49 Robinhood Markets Inc. HOOD Robinhood Markets Inc. −80.1% YoY FCF$696M2026Q2 50 Shopify Inc. SHOP Shopify Inc. +55.0% YoY FCF$654M2026Q2 51 Nasdaq, Inc. NDAQ Nasdaq, Inc. −7.7% YoY FCF$634M2026Q2 52 QUALCOMM Incorporated QCOM QUALCOMM Incorporated −80.8% YoY FCF$495MFY2026Q3 53 Vista Energy, S.A.B. de C.V. VIST Vista Energy, S.A.B. de C.V. FCF$485M2026Q2 54 Marvell Technology, Inc. MRVL Marvell Technology, Inc. +15.6% YoY FCF$479MFY2027Q2 55 ServiceNow, Inc. NOW ServiceNow, Inc. −10.1% YoY FCF$473M2026Q2 56 CrowdStrike Holdings, Inc. CRWD CrowdStrike Holdings, Inc. +33.1% YoY FCF$377MFY2027Q2 57 Vistra Corp. VST Vistra Corp. FCF$334M2026Q2 58 Datadog, Inc. DDOG Datadog, Inc. +65.5% YoY FCF$306M2026Q2 59 Docusign, Inc. DOCU Docusign, Inc. +35.9% YoY FCF$296MFY2027Q2 60 Affirm Holdings, Inc. AFRM Affirm Holdings, Inc. +874.9% YoY FCF$229MFY2026Q4 61 Okta, Inc. OKTA Okta, Inc. +40.1% YoY FCF$227M2026Q3 62 Unity Software Inc. U Unity Software Inc. +59.0% YoY FCF$202M2026Q2 63 Coinbase Global, Inc. COIN Coinbase Global, Inc. −39.9% YoY FCF$197M2026Q2 64 Carvana Co. CVNA Carvana Co. FCF$187M2026Q2 65 Bloom Energy Corporation BE Bloom Energy Corporation FCF$175M2026Q2 66 MongoDB, Inc. MDB MongoDB, Inc. +94.8% YoY FCF$139MFY2027Q2 67 Snowflake Inc. SNOW Snowflake Inc. +43.9% YoY FCF$84MFY2027Q2 68 Cloudflare, Inc. NET Cloudflare, Inc. +69.4% YoY FCF$68M2026Q2 69 Zeta Global Holdings Corp. ZETA Zeta Global Holdings Corp. +62.1% YoY FCF$64M2026Q2 70 Generac Holdings Inc. GNRC Generac Holdings Inc. +334.7% YoY FCF$63M2026Q2 71 Zscaler, Inc. ZS Zscaler, Inc. −64.7% YoY FCF$61MFY2026Q4 72 Grab Holdings Limited GRAB Grab Holdings Limited −29.1% YoY FCF$39M2026Q2 73 UiPath, Inc. PATH UiPath, Inc. −29.5% YoY FCF$29MFY2027Q2 74 BitMine Immersion Technologies, Inc. BMNR BitMine Immersion Technologies, Inc. +1627.9% YoY FCF$29MFY2026Q3 75 Xiaomi Corporation XIACY Xiaomi Corporation −99.0% YoY FCF$26M2026Q2 76 AbCellera Biologics Inc. ABCL AbCellera Biologics Inc. FCF$24M2026Q2 77 GitLab Inc. GTLB GitLab Inc. FCF−$3MFY2027Q2 78 Strategy Inc MSTR Strategy Inc +84.0% YoY FCF−$6M2026Q2 79 Lemonade, Inc. LMND Lemonade, Inc. FCF−$8M2026Q2 80 Hims & Hers Health, Inc. HIMS Hims & Hers Health, Inc. +5.1% YoY FCF−$62M2026Q2 81 Rocket Lab Corporation RKLB Rocket Lab Corporation −99.2% YoY FCF−$110M2026Q2 82 Upstart Holdings, Inc. UPST Upstart Holdings, Inc. +3.8% YoY FCF−$139M2026Q2 83 Iris Energy Limited IREN Iris Energy Limited +34.6% YoY FCF−$167M2026Q2 84 Klarna Group plc KLAR Klarna Group plc FCF−$269M2026Q2 85 Cerebras Systems Inc. CBRS Cerebras Systems Inc. −206.1% YoY FCF−$477M2026Q2 86 Moderna, Inc. MRNA Moderna, Inc. +38.9% YoY FCF−$563M2026Q2 87 AST SpaceMobile, Inc. ASTS AST SpaceMobile, Inc. −96.5% YoY FCF−$695M2026Q2 88 Nokia Corporation NOK Nokia Corporation FCF−$851M2026Q2 89 Tesla, Inc. TSLA Tesla, Inc. FCF−$1.09B2026Q2 90 Baidu, Inc. BIDU Baidu, Inc. −79.6% YoY FCF−$1.17B2026Q2 91 Nebius NBIS Nebius −402.8% YoY FCF−$3.41B2026Q2 92 Morgan Stanley MS Morgan Stanley FCF−$3.57B2026Q2 93 SoFi Technologies, Inc. SOFI SoFi Technologies, Inc. −160.6% YoY FCF−$3.99B2026Q2 94 Oracle Corporation ORCL Oracle Corporation −1390.6% YoY FCF−$5.40BFY2027Q1 95 CoreWeave, Inc. CRWV CoreWeave, Inc. −112.4% YoY FCF−$5.74B2026Q2 96 Alphabet Inc. GOOGL Alphabet Inc. FCF−$5.86B2026Q2 97 Alibaba Group Holding Limited BABA Alibaba Group Holding Limited −150.7% YoY FCF−$6.58B2026Q2 98 Amazon.com, Inc. AMZN Amazon.com, Inc. FCF−$7.69B2026Q2 99 SpaceX SPCX SpaceX −398.3% YoY FCF−$15.95B2026Q2

FY — quarters on the company's own off-calendar fiscal year; unprefixed quarters follow the calendar year.

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