Free cash flow leaders: highest free cash flow margins
Large US companies ranked by free cash flow as a share of revenue, from their latest 10-K cash flow statement.
The rule: Public float of $10B or more, excluding financials and funds. Free cash flow = operating cash flow minus capital spending; ranked by free cash flow as a share of revenue. 458 companies qualify; the top 100 are shown. Figures are from each company's latest annual report on SEC EDGAR, so fiscal years end on different dates. A ranked screen of filed numbers, not investment advice.
| # | Company | Sector | FCF margin | Revenue | Revenue growth |
|---|---|---|---|---|---|
| 1 | CCICrown Castle Inc. | Real Estate | 67.4% | $4.3B | -4.4% |
| 2 | VRSNVerisign Inc. | Technology | 64.5% | $1.7B | 6.4% |
| 3 | SNDKSandisk Corp | Technology | 56.8% | $20.2B | 175.3% |
| 4 | VVisa Inc. | Financials | 53.9% | $40.0B | 11.3% |
| 5 | MAMastercard Inc | Financials | 52.3% | $32.8B | 16.4% |
| 6 | KIMKimco Realty Corp. | Real Estate | 51.5% | $2.1B | 5.1% |
| 7 | SPGSimon Property Group Inc. | Real Estate | 50.3% | $6.4B | 6.7% |
| 8 | MSCIMSCI Inc. | Industrials | 49.4% | $3.1B | 9.8% |
| 9 | ANETArista Networks, Inc. | Technology | 47.2% | $9.0B | 28.6% |
| 10 | PLTRPalantir Technologies Inc. | Technology | 46.9% | $4.5B | 56.2% |
| 11 | NVDANVIDIA Corp. | Technology | 44.8% | $215.9B | 65.5% |
| 12 | MUMicron Technology Inc. | Technology | 44.3% | $133.2B | 256.3% |
| 13 | AVGOBroadcom Inc. | Technology | 42.1% | $63.9B | 23.9% |
| 14 | ADBEAdobe Inc. | Technology | 41.4% | $23.8B | 10.5% |
| 15 | INTUIntuit Inc. | Technology | 40.4% | $21.4B | 13.9% |
| 16 | ZMZoom Communications, Inc. | Technology | 39.5% | $4.9B | 4.4% |
| 17 | MOAltria Group, Inc. | Consumer Staples | 39.0% | $23.3B | -3.1% |
| 18 | ADIAnalog Devices Inc. | Technology | 38.8% | $11.0B | 16.9% |
| 19 | VRSKVerisk Analytics, Inc. | Technology | 38.8% | $3.1B | 6.6% |
| 20 | FICOFair Isaac Corp. | Industrials | 38.7% | $2.0B | 15.9% |
| 21 | EXRExtra Space Storage Inc. | Real Estate | 38.1% | $3.4B | 3.7% |
| 22 | SBACSBA Communications Corp. | Real Estate | 37.9% | $2.8B | 5.1% |
| 23 | MELIMercadoLibre Inc. | Consumer Discretionary | 37.3% | $28.9B | 39.1% |
| 24 | PANWPalo Alto Networks Inc | Technology | 35.8% | $11.5B | 24.5% |
| 25 | PAYXPaychex Inc. | Industrials | 35.6% | $6.5B | 16.9% |
| 26 | DUOLDuolingo, Inc. | Technology | 35.6% | $1.0B | 38.7% |
| 27 | SPGIS&P Global Inc. | Financials | 35.6% | $15.3B | 7.9% |
| 28 | AMTAmerican Tower Corp. | Real Estate | 35.5% | $10.6B | 5.1% |
| 29 | DTMDT Midstream, Inc. | Energy | 35.5% | $1.2B | 26.7% |
| 30 | CRMSalesforce, Inc. | Technology | 34.7% | $41.5B | 9.6% |
| 31 | MANHManhattan Associates Inc. | Technology | 34.6% | $1.1B | 3.8% |
| 32 | NOWServiceNow, Inc. | Technology | 34.5% | $13.3B | 20.9% |
| 33 | BKNGBooking Holdings Inc. | Consumer Discretionary | 33.8% | $26.9B | 13.4% |
| 34 | ADSKAutodesk, Inc. | Technology | 33.4% | $7.2B | 17.5% |
| 35 | MCOMoody's Corp. | Financials | 33.4% | $7.7B | 8.9% |
| 36 | ALABAstera Labs, Inc. | Technology | 33.1% | $853M | 115.1% |
| 37 | DOCUDocusign, Inc. | Technology | 32.9% | $3.2B | 8.2% |
| 38 | EQTEQT Corp | Energy | 32.8% | $8.6B | 63.9% |
| 39 | FTNTFortinet, Inc. | Technology | 32.7% | $6.8B | 14.2% |
| 40 | UTHRUNITED THERAPEUTICS Corp | Health Care | 32.7% | $3.2B | 10.6% |
| 41 | NEMNEWMONT Corp | Materials | 32.2% | $22.7B | 21.3% |
| 42 | GILDGilead Sciences, Inc. | Health Care | 32.1% | $29.4B | 2.4% |
| 43 | GDDYGoDaddy Inc. | Technology | 31.8% | $5.0B | 8.3% |
| 44 | MPLXMPLX LP | Energy | 31.6% | $13.0B | 8.9% |
| 45 | PTCPTC Inc. | Technology | 31.3% | $2.7B | 19.2% |
| 46 | RDDTReddit, Inc. | Technology | 31.1% | $2.2B | 69.4% |
| 47 | CRDOCredo Technology Group Holding Ltd | Technology | 30.5% | $1.3B | 205.7% |
| 48 | GENGen Digital Inc. | Technology | 30.5% | $5.0B | 27.1% |
| 49 | LAMRLamar Advertising Co. | Real Estate | 30.1% | $2.3B | 2.7% |
| 50 | OKTAOkta, Inc. | Technology | 30.0% | $2.9B | 11.8% |
| 51 | NTAPNetApp, Inc. | Technology | 30.0% | $6.2B | 5.6% |
| 52 | CDNSCadence Design Systems Inc. | Technology | 30.0% | $5.3B | 14.1% |
| 53 | PINSPinterest, Inc. | Technology | 29.6% | $4.2B | 15.8% |
| 54 | NTNXNutanix, Inc. | Technology | 29.5% | $2.9B | 12.4% |
| 55 | FFIVF5, Inc. | Technology | 29.3% | $3.1B | 9.7% |
| 56 | DDOGDatadog, Inc. | Technology | 29.2% | $3.4B | 27.7% |
| 57 | RMDResmed Inc. | Health Care | 29.2% | $5.7B | 9.8% |
| 58 | ABBVAbbVie Inc. | Health Care | 29.1% | $61.2B | 8.6% |
| 59 | WDAYWorkday, Inc. | Technology | 29.1% | $9.6B | 13.1% |
| 60 | QCOMQualcomm Inc. | Technology | 28.9% | $44.3B | 13.7% |
| 61 | CPAYCorpay, Inc. | Industrials | 28.7% | $4.5B | 13.9% |
| 62 | REGNRegeneron Pharmaceuticals, Inc. | Health Care | 28.4% | $14.3B | 1.0% |
| 63 | KLACKLA Corp. | Technology | 27.7% | $13.6B | 11.7% |
| 64 | RBLXRoblox Corp | Communication Services | 27.7% | $4.9B | 35.8% |
| 65 | TTDTrade Desk, Inc. | Technology | 27.5% | $2.9B | 18.5% |
| 66 | TYLTyler Technologies Inc. | Technology | 27.3% | $2.3B | 9.1% |
| 67 | JKHYJack Henry & Associates Inc. | Technology | 27.3% | $2.5B | 7.1% |
| 68 | CRWDCrowdStrike Holdings, Inc. | Technology | 27.2% | $4.8B | 21.7% |
| 69 | WDCWestern Digital Corp. | Technology | 27.2% | $12.9B | 35.7% |
| 70 | CPRTCopart Inc. | Consumer Discretionary | 27.2% | $4.7B | 0.4% |
| 71 | MCDMcDonald's Corp. | Consumer Discretionary | 26.7% | $26.9B | 3.7% |
| 72 | BMYBristol-Myers Squibb Co. | Health Care | 26.7% | $48.2B | -0.2% |
| 73 | VRTXVertex Pharmaceuticals Inc. | Health Care | 26.6% | $12.0B | 8.9% |
| 74 | FDSFactSet Research Systems Inc. | Technology | 26.6% | $2.3B | 5.4% |
| 75 | SSNCSS&C Technologies Holdings Inc | Technology | 26.5% | $6.3B | 6.6% |
| 76 | GPNGlobal Payments Inc. | Industrials | 26.5% | $7.7B | -0.4% |
| 77 | DTDynatrace, Inc. | Technology | 26.2% | $2.0B | 18.8% |
| 78 | PMPhilip Morris International Inc. | Consumer Staples | 26.2% | $40.6B | 7.3% |
| 79 | STXSeagate Technology Holdings plc | Technology | 25.5% | $12.2B | 34.1% |
| 80 | CFCF Industries Holdings, Inc. | Materials | 25.4% | $7.1B | 19.3% |
| 81 | ZSZscaler, Inc. | Technology | 25.4% | $3.4B | 25.4% |
| 82 | ISRGIntuitive Surgical Inc. | Health Care | 24.8% | $10.1B | 20.5% |
| 83 | IDXXIdexx Laboratories Inc. | Health Care | 24.6% | $4.3B | 10.4% |
| 84 | ZTSZoetis Inc. | Health Care | 24.1% | $9.5B | 2.3% |
| 85 | AKAMAkamai Technologies Inc. | Industrials | 24.0% | $4.2B | 5.4% |
| 86 | SNOWSnowflake Inc. | Technology | 23.9% | $4.7B | 29.2% |
| 87 | MPWRMonolithic Power Systems, Inc. | Technology | 23.9% | $2.8B | 26.4% |
| 88 | KEYSKeysight Technologies, Inc. | Technology | 23.8% | $5.4B | 8.0% |
| 89 | AAPLApple Inc. | Technology | 23.7% | $416.2B | 6.4% |
| 90 | MNSTMonster Beverage Corp | Consumer Staples | 23.7% | $8.3B | 10.7% |
| 91 | NDSNNordson Corp. | Industrials | 23.7% | $2.8B | 3.8% |
| 92 | ONON Semiconductor Corp. | Technology | 23.7% | $6.0B | -15.3% |
| 93 | FTVFortive Corp | Technology | 23.5% | $4.2B | 1.9% |
| 94 | TLNTalen Energy Corp | Utilities | 23.5% | $2.6B | 22.0% |
| 95 | DXCMDexcom Inc. | Health Care | 23.1% | $4.7B | 15.6% |
| 96 | FISFidelity National Information Services, Inc. | Industrials | 23.0% | $10.7B | 5.4% |
| 97 | METAMeta Platforms, Inc. | Communication Services | 22.9% | $201.0B | 22.2% |
| 98 | FSLRFirst Solar, Inc. | Technology | 22.8% | $5.2B | 24.1% |
| 99 | TPRTapestry, Inc. | Consumer Discretionary | 22.6% | $8.0B | 14.2% |
| 100 | HUBSHubSpot Inc. | Technology | 22.6% | $3.1B | 19.2% |
Definitions on the methodology page. More lists: all screens and companies by sector.