Best Buy

Liquidity is solid with cash of about 1.46 billion and long‑term debt around 1.16 billion as of August 2, 2025. Operating lease liabilities are meaningful but manageable within normalized cash generation.

FY25 cash from operations was 2.10 billion with capital expenditures of 704 million, yielding FCF of approximately 1.39 billion; for the first six months of FY26, cash from operations was 783 million and capex 341 million, for FCF of about 442 million.

On a trailing twelve‑month basis to Q2 FY26, FCF is roughly 1.35 billion by adjusting FY25 for H1 base effect. The balance sheet and consistent free cash flow support dividends and buybacks without stressing leverage, even through industry down cycles.