Free cash flow

Cash left after keeping the lights on and the assets standing.

Formula	Operating cash flow − capital expenditure
Companies reporting it	526 of 573
Median	$746.10m
Middle half	$87.12m – $2.61bn
Range	$-74.15bn – $98.77bn

When it lies. One year is not a trend: a single working-capital swing or a deferred tax payment moves it more than the business does.

By sector

Sector	n	Median	25th	75th
Banks & insurers	26	$3.09bn	$1.60bn	$8.71bn
Industrials	79	$1.71bn	$910.00m	$3.67bn
Health care	41	$1.36bn	$256.55m	$7.39bn
Consumer discretionary	46	$1.23bn	$654.65m	$2.61bn
Consumer staples	43	$1.16bn	$319.09m	$2.81bn
Technology	45	$1.11bn	$96.36m	$6.12bn
Financial services	27	$1.00bn	$257.98m	$4.19bn
Energy	37	$543.00m	$21.17m	$2.82bn
Real estate	48	$407.20m	$117.39m	$961.70m
Materials	47	$218.69m	$3.98m	$675.20m
Communications	31	$181.00m	$43.91m	$811.00m
not classified	2	$989.00k	$989.00k	$3.43m
Utilities	53	$-197.77m	$-1.11bn	$187.21m
Investment company	1	$-425.89m	$-425.89m	$-425.89m

#	Ticker	Company	Sector	Free cash flow
1	AAPL	Apple	Technology	$98.77bn
2	NVDA	Nvidia	Technology	$96.68bn
3	GOOGL	Alphabet	Technology	$73.27bn
4	MSFT	Microsoft	Technology	$66.99bn
5	META	Meta Platforms	Technology	$46.11bn
6	AVGO	Broadcom	Technology	$26.91bn
7	COF	Capital One Financial	Banks & insurers	$26.14bn
8	XOM	Exxon Mobil	Energy	$23.61bn
9	CMCSA	Comcast	Communications	$21.89bn
10	VZ	Verizon Communications	Communications	$20.13bn
11	JNJ	Johnson & Johnson	Health care	$19.70bn
12	T	AT&T	Communications	$19.44bn
13	TMUS	T-Mobile US	Communications	$18.00bn
14	ABBV	AbbVie	Health care	$17.82bn
15	GM	General Motors	Industrials	$17.56bn
16	PGR	Progressive	Banks & insurers	$17.20bn
17	MA	Mastercard	Financial services	$17.16bn
18	CVX	Chevron	Energy	$16.59bn
19	UNH	Unitedhealth Group	Health care	$16.07bn
20	AXP	American Express	Banks & insurers	$16.00bn

#	Ticker	Company	Sector	Free cash flow
526	C	Citigroup	Banks & insurers	$-74.15bn
525	GS	Goldman Sachs Group	Banks & insurers	$-47.22bn
524	ORCL	Oracle	Technology	$-23.69bn
523	MS	Morgan Stanley	Banks & insurers	$-20.79bn
522	D	Dominion Energy	Utilities	$-7.29bn
521	XEL	Xcel Energy	Utilities	$-6.83bn
520	SRE	Sempra	Utilities	$-6.05bn
519	APD	Air Products & Chemicals	Materials	$-3.77bn
518	CG	Carlyle Group	Financial services	$-3.37bn
517	PCG	PG&E	Utilities	$-3.07bn