Free Cash Flow Conversion Ratio: What Apple’s FY2025 Gap Reveals
Apple reported substantially higher net income in fiscal 2025. Yet its free cash flow, calculated from the company’s cash flow statement, moved in the opposite direction. Net income increased 19.50% to $112.010 billion, while free cash flow fell 9.23% to $98.767 billion. Under a consistent free-cash-flow-to-net-income definition, Apple’s cash conversion ratio declined from 116.08% in … Read more