Free cash flow is operating cash flow less property and equipment purchases and capitalized internal-use software. Adjusted free cash flow adds back restructuring costs paid.
Operating cash flow less property and equipment purchases and capitalized internal-use software costs; distinct from the release’s adjusted free cash flow.
Free cash flow subtracts internal-use software capitalization and property/equipment purchases from operating cash flow; its margin uses total revenue. The client-fund-interest variant additionally subtracts that interest. Adjusted free cash flow additionally adds cash paid for acquisition/non-recurring transactions and specified severance; both interest-excluded margins use recurring and other revenue.
Operating cash flow less property/equipment and capitalized software development. Payroll-tax cash flows tied to net share settlement classified as financing do not affect FCF; margin divides by revenue.
Operating cash flow less net property/equipment spending, finance-lease principal payments and capitalized software development, with other management-identified non-cash-settling items outside the core business adjusted as disclosed. Margin divides by revenue.
Operating cash flow less property/equipment purchases, capitalized internal-use software and website development, and net purchases/proceeds from deferred-compensation investments.
Operating cash flow less property/equipment, capitalized internal-use software and intangible purchases, adding cash paid for restructuring and related charges, acquisition compensation and acquisition/integration costs. Margin divides by revenue.
Operating cash flow less property/equipment purchases and capitalized software additions, plus cash paid for acquisition-related, restructuring and other non-recurring or unusual items. This measure replaced free cash flow starting in fiscal Q1 2027.
Operating cash flow excluding changes in settlement assets and liabilities, less property/equipment and software purchases. Margin divides by revenue, net.
Operating cash flow adjusted for capitalized internal-development payments, property/equipment purchases and certain merchant-cash-advance inflows and outflows.
Operating cash flow less property/equipment and capitalized software purchases, adding headquarters-buildout capital expenditure. Current-quarter add-back includes Israel office renovations paid before the space was vacated; margin divides by revenue.
Operating cash flow plus legal-settlement and business-combination/related cash outflows, including compensation, less property/equipment purchases. Margin divides by total revenue.
Operating cash flow less capital expenditures and website/software development costs, adjusted for FX effects on cash and cash equivalents. FCF margin divides by same-period revenue.
Key differences
Adjustments / exclusions: Deducts net PP&E, finance-lease principal and software; Adjusts disclosed management-identified non-cash-settling items; Deducts PP&E, software / website development and net deferred-compensation investments; Deducts PP&E / software / intangibles; Adds restructuring, acquisition compensation and acquisition / integration cash costs; Deducts PP&E / software; Adds acquisition compensation, transaction and restructuring cash payments; Adds acquisition, restructuring and unusual cash costs; Removes changes in settlement assets / liabilities; Deducts PP&E / software; margin uses net revenue; Deducts PP&E; Adds BAPA tax / JiHu payments; subtracts BAPA refunds; Capitalized software; Adds restructuring cash payments; Adjusts internal development, PP&E and certain merchant-cash-advance cash flows; Adds HQ buildout including specified Israel renovation spending; Adds SBC employer payroll taxes; Adds legal-settlement and business-combination cash costs incl. compensation; Adjusts PP&E, employee-equity payroll taxes, option tax withholding and restructuring cash; Deducts capex and website / software costs; Adjusts FX effects on cash and cash equivalents
Adds back or otherwise adjusts specified operating cash flows or capital expenditure. Adjustment lists differ materially.
Operating cash flow less property/equipment purchases, capitalized software development and purchases of other non-current assets. Margin divides the result by total revenue.
Free cash flow is operating cash flow less purchases of property, equipment and other assets. Adjusted free cash flow adds headquarters-related capital expenditures, acquisition payments and litigation payments; adjusted margin divides it by revenue.
Operating cash flow less property/equipment and other asset purchases and capitalized internal-use software; timing of employee stock purchase plan cash flows can affect the measure.
Key differences
Adjustments / exclusions: Capitalized software; Base: PP&E and other assets; Separate adjusted variant adds HQ capex, acquisition and litigation payments
Deducts intangible, other or long-lived asset purchases or deposits in addition to specified capital expenditure.
Operating cash flow less property/equipment purchases. The separately disclosed after-financing variant also subtracts principal payments on financing obligations for facilities.
Free cash flow is operating cash flow less capital expenditures. Unlevered free cash flow adds cash interest on debt, net of its associated tax benefit. Free cash flow margin divides by revenue.
Operating cash flow plus cash interest paid on long-term debt, less property/equipment purchases. Margin divides adjusted FCF by total revenue; debt service is not represented as discretionary cash.
Operating cash flow less property/equipment and other-asset purchases, plus cash interest, restructuring/transaction payments, integration/acquisition-compensation payments and litigation-settlement payments.
Operating cash flow less property and equipment purchases net of sale proceeds, finance-lease principal payments, and capitalized internal-use software.
Operating cash flow less property/equipment purchases and capitalized software development costs, as stated in the earnings release. The 10-Q wording lists property/equipment only; the source formulations are not silently treated as identical.
Key differences
No differences established in the reviewed attributes. Missing detail does not establish equivalence.
Collected filing and release formulations differ on capitalized software; no single core formula is assigned.
