The average FCF dropped sharply since January 3rd from 2.1x to 1.42x (forward estimate data moved another quarter into the future & stocks kept falling).

I skipped a year of FCF growth for FROG to avoid -54% growth this year following the move from $17M in annual FCF to $108M in two years.

FCF is not a good metric for creditors. They're excluded.

RBRK is lapping 10X+ Y/Y FCF growth.

Companies like DraftKings have seen their free cash flow estimates plummet. That leads to more discounting, as people have less confidence in future targets.

Axon FCF is expected to grow by more than 500% this year. That's related to lapping -77% Y/Y growth in 2025. I compared Y/Y growth in 2026 and the two-year CAGR to the base period in 2024 to avoid overly easy comps.