FCF conversion
The share of operating cash flow left as free cash flow after reinvestment in the asset base.
Formula
Free cash flow (operating cash flow − |capex|) ÷ operating cash flow
Served as: annual · derived. Annual and quarterly observations are never mixed unlabeled.
Where the inputs come from
- NetCashProvidedByUsedInOperatingActivities
- PaymentsToAcquirePropertyPlantAndEquipment
Listed highest priority first. Every served figure carries its filing, fiscal period and accession; open any value on the financials page to see them.
How to compare it honestly
Compare against the company's own history and capital-intensity peers; heavy reinvestment years honestly depress the ratio.
When it is not served
Not computed when capex is untagged for the period, or when operating cash flow is not positive - a share of a non-positive base misleads.
Missing data is missing evidence: it is never shown as zero and never treated as a conclusion.
What it cannot tell you
Capex timing swings single years; the ratio says nothing about whether the reinvestment earns a return.
Questions worth asking next
- Is the conversion level stable across the multi-year series?
- How does the reinvestment share relate to the company's stated capacity plans in the filings?
Research prompts, not recommendations.
See it computed from filings
Related in cash and conversion: Free cash flow · Cash conversion of earnings · Cash returned · Total payout / FCF · Dividend payout
Definitions are descriptive and educational. Nothing here is a guaranteed signal or personalized investment advice. How the platform computes and cites every figure.