# Highest free-cash-flow margin

Informational only - not investment advice.

Companies ranked mechanically by latest annual free cash flow divided by revenue from SEC companyfacts. Rows require revenue of at least $100.0M to reduce tiny-base artifacts.

Mechanical ranking by stated metric from SEC/FRED data; not a recommendation, endorsement, or quality/investment judgment. As of: 2026-06-04.

- Ranked companies can have different latest fiscal-year ends, which affects temporal comparability.
- Free cash flow and cash-return lines differ by industry and capital intensity, so cross-industry comparisons are mechanical.
- Comparisons across industries are not apples-to-apples: revenue and assets are defined differently by industry (for example, a bank's revenue is interest/fee income, and a REIT's revenue is lease income).
- Minimum revenue floor: $100.0M.

| Rank | Company | Free-cash-flow margin | FY | Extra |
| ---: | --- | ---: | ---: | --- |
| 1 | [ADAM](/company/ADAM/) - ADAMAS TRUST, INC. | 84.32% | 2025 | FCF $125.9M |
| 2 | [STT](/company/STT/) - STATE STREET CORP | 77.76% | 2025 | FCF $10.8B |
| 3 | [HAFC](/company/HAFC/) - HANMI FINANCIAL CORP | 75.40% | 2025 | FCF $203.7M |
| 4 | [MTG](/company/MTG/) - MGIC INVESTMENT CORP | 70.18% | 2025 | FCF $851.8M |
| 5 | [AM](/company/AM/) - Antero Midstream Corp | 69.97% | 2024 | FCF $774.0M |
| 6 | [NTRS](/company/NTRS/) - NORTHERN TRUST CORP | 67.51% | 2025 | FCF $5.5B |
| 7 | [CCI](/company/CCI/) - CROWN CASTLE INC. | 67.42% | 2025 | FCF $2.9B |
| 8 | [ESNT](/company/ESNT/) - Essent Group Ltd. | 67.31% | 2025 | FCF $848.7M |
| 9 | [APP](/company/APP/) - AppLovin Corp | 64.96% | 2024 | FCF $2.1B |
| 10 | [VRSN](/company/VRSN/) - VERISIGN INC/CA | 64.49% | 2025 | FCF $1.1B |
| 11 | [CME](/company/CME/) - CME GROUP INC. | 64.31% | 2025 | FCF $4.2B |
| 12 | [IDCC](/company/IDCC/) - InterDigital, Inc. | 63.38% | 2025 | FCF $528.6M |
| 13 | [BNL](/company/BNL/) - Broadstone Net Lease, Inc. | 59.41% | 2025 | FCF $269.8M |
| 14 | [NMIH](/company/NMIH/) - NMI Holdings, Inc. | 58.39% | 2025 | FCF $412.5M |
| 15 | [ENVA](/company/ENVA/) - Enova International, Inc. | 56.22% | 2025 | FCF $1.8B |
| 16 | [HLNE](/company/HLNE/) - Hamilton Lane INC | 55.21% | 2026 | FCF $419.1M |
| 17 | [V](/company/V/) - VISA INC. | 53.94% | 2025 | FCF $21.6B |
| 18 | [IBOC](/company/IBOC/) - INTERNATIONAL BANCSHARES CORP | 53.36% | 2025 | FCF $472.9M |
| 19 | [KNSL](/company/KNSL/) - Kinsale Capital Group, Inc. | 52.83% | 2025 | FCF $990.1M |
| 20 | [MA](/company/MA/) - Mastercard Inc | 52.33% | 2025 | FCF $17.2B |
| 21 | [DAVE](/company/DAVE/) - Dave Inc./DE | 52.28% | 2025 | FCF $289.7M |
| 22 | [CASH](/company/CASH/) - PATHWARD FINANCIAL, INC. | 52.26% | 2025 | FCF $438.9M |
| 23 | [WABC](/company/WABC/) - WESTAMERICA BANCORPORATION | 51.80% | 2025 | FCF $119.7M |
| 24 | [KIM](/company/KIM/) - KIMCO REALTY CORP | 51.47% | 2025 | FCF $1.1B |
| 25 | [DOCS](/company/DOCS/) - Doximity, Inc. | 50.62% | 2026 | FCF $326.5M |
| 26 | [SPG](/company/SPG/) - SIMON PROPERTY GROUP INC. | 50.31% | 2025 | FCF $3.2B |
| 27 | [MSCI](/company/MSCI/) - MSCI Inc. | 49.42% | 2025 | FCF $1.5B |
| 28 | [HCI](/company/HCI/) - HCI Group, Inc. | 48.93% | 2025 | FCF $440.8M |
| 29 | [COF](/company/COF/) - CAPITAL ONE FINANCIAL CORP | 48.92% | 2025 | FCF $26.1B |
| 30 | [KRYS](/company/KRYS/) - Krystal Biotech, Inc. | 48.55% | 2025 | FCF $188.9M |
| 31 | [INVA](/company/INVA/) - Innoviva, Inc. | 47.60% | 2025 | FCF $195.8M |
| 32 | [ANET](/company/ANET/) - Arista Networks, Inc. | 47.22% | 2025 | FCF $4.3B |
| 33 | [RMBS](/company/RMBS/) - RAMBUS INC | 47.08% | 2025 | FCF $333.2M |
| 34 | [PLTR](/company/PLTR/) - Palantir Technologies Inc. | 46.94% | 2025 | FCF $2.1B |
| 35 | [TBBK](/company/TBBK/) - Bancorp, Inc. | 46.78% | 2025 | FCF $257.9M |
| 36 | [PLMR](/company/PLMR/) - Palomar Holdings, Inc. | 46.69% | 2025 | FCF $409.0M |
| 37 | [AMG](/company/AMG/) - AFFILIATED MANAGERS GROUP, INC. | 46.62% | 2025 | FCF $967.1M |
| 38 | [SEZL](/company/SEZL/) - Sezzle Inc. | 46.47% | 2025 | FCF $209.3M |
| 39 | [HALO](/company/HALO/) - HALOZYME THERAPEUTICS, INC. | 46.15% | 2025 | FCF $644.6M |
| 40 | [QLYS](/company/QLYS/) - QUALYS, INC. | 45.49% | 2025 | FCF $304.4M |
| 41 | [NVDA](/company/NVDA/) - NVIDIA CORP | 44.77% | 2026 | FCF $96.7B |
| 42 | [MKTX](/company/MKTX/) - MARKETAXESS HOLDINGS INC | 44.19% | 2025 | FCF $373.9M |
| 43 | [WRLD](/company/WRLD/) - WORLD ACCEPTANCE CORP | 43.66% | 2026 | FCF $255.5M |
| 44 | [AGX](/company/AGX/) - ARGAN INC | 43.49% | 2026 | FCF $410.8M |
| 45 | [AMP](/company/AMP/) - AMERIPRISE FINANCIAL INC | 43.15% | 2025 | FCF $8.2B |
| 46 | [AVGO](/company/AVGO/) - Broadcom Inc. | 42.13% | 2025 | FCF $26.9B |
| 47 | [COLL](/company/COLL/) - COLLEGIUM PHARMACEUTICAL, INC | 41.97% | 2025 | FCF $327.6M |
| 48 | [ADBE](/company/ADBE/) - ADOBE INC. | 41.45% | 2025 | FCF $9.9B |
| 49 | [FFIN](/company/FFIN/) - FIRST FINANCIAL BANKSHARES INC | 40.71% | 2025 | FCF $286.0M |
| 50 | [PTCT](/company/PTCT/) - PTC THERAPEUTICS, INC. | 40.58% | 2025 | FCF $702.3M |