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Free cash flow calculator
Subtract capital spending from operating cash flow, or load both from a covered company's 10-K. Type a share price to see free cash flow yield.
An illustration, not a forecast. This calculator subtracts capital spending from operating cash flow. It doesn't say whether the result is strong or weak, and it doesn't predict anything.
The formulas
Free cash flow = cash from operating activities − capital expenditures
Free cash flow yield = free cash flow ÷ (share price × shares outstanding) × 100
A worked example: Apple
In fiscal 2026, Apple's operating cash flow was $145.1B and its capital spending was $9.0B, so free cash flow was about $136.1B. At a share price of $100, a round figure used only to show the arithmetic, not a quoted price, and 14.53B shares outstanding as of Oct 23, 2026, that free cash flow would be a yield of about 9.4%.
Source: Apple 10-K for fiscal 2026, filed Nov 3, 2026
Reading the result
Free cash flow explains why it can differ from net income, and capital expenditures covers the spending figure the calculator subtracts.
Common questions
How do you calculate free cash flow?
Take cash from operating activities and subtract capital expenditures, both from the cash flow statement. Apple's fiscal 2026 figures were $145.1B and $9.0B, for free cash flow of about $136.1B. Source: Apple 10-K for fiscal 2026.
What is free cash flow yield?
Free cash flow divided by market cap (or free cash flow per share divided by the share price), as a percentage. Type a share price and a share count to see it. Ticker Sage doesn't publish share prices.
Is free cash flow the same as profit?
No. Profit (net income) follows accrual accounting, which matches revenue and costs to the period they belong to. Free cash flow counts cash when it moves and takes out the full cost of new equipment in the year it's bought.
Is negative free cash flow a problem?
Not on its own. It means a company spent more on long-lived assets than its operations brought in that year. That can come from a building program, a weak year, or both.
Why are banks left out of the list?
For banks, operating cash flow includes money moving in and out of trading positions and loans held for sale, so it can swing by tens of billions of dollars from one year to the next. Free cash flow isn't a useful measure for a bank.
Disclosures
- Editor holdings
- The editor holds shares of Tesla (TSLA) and SpaceX in a long-term retirement account. The editor holds no position in any other company named on this page. As of Nov 11, 2026.
- Compensation
- Nobody paid for this calculator. No affiliate links on this calculator.
- Sources
- Each company's own SEC filings, linked next to each number.
- Last updated
- Nov 10, 2026
General education, the same for every reader. Not a recommendation to buy, sell or hold any security, and it doesn't consider your situation.
More in Learn and Tools · Methodology & Disclosures explains where every number comes from.