“Now you take a step back to the heart of your question of 2026. 2026, I would tell you, what is our free cash flow generation engine flywheel? It's accelerated revenue growth, the 5 plus percent in this company, is driving operating leverage and it's leveraging an efficient balance sheet. We see all that continuing to play out in 2026.”

In context

“Now about $14 billion. Why do we do that? We took up revenue, we took up operating margin, we took up adjusted EBITDA, we took up our profitability, and all that leads to free cash flow. When you take a look at what's driving that $14 billion, $2.5 billion give or take year-to-year growth in adjusted EBITDA. Mid-teens growth, well above our model. And underneath that, you take a look at some of the dynamics we've been talking about since back in January. Yes, higher profitable-based engine will pay higher cash tax. Yes, we're investing long-term for this business, we are going to have higher CapEx outside of the QRadar transaction. And, yes, we made a significant strategic acquisition. We've got acquisition-related charges and foregone interest. All of that is embedded in 2025's guidance. Now you take a step back to the heart of your question of 2026. 2026, I would tell you, what is our free cash flow generation engine flywheel? It's accelerated revenue growth, the 5 plus percent in this company, is driving operating leverage and it's leveraging an efficient balance sheet. We see all that continuing to play out in 2026. And those underlying fundamentals, yeah, they deliver a sustainable realization number by the way, in the mid to high one twenties. Kinda to your question. By the way, we've been there for four years in a row already. So we can handle that. So you bring that all together, I think it talks to the statement and the confidence of our focused portfolio. Our disciplined capital allocation, the diversity of our business model, and the relentless focus of us driving productivity and operating leverage that gives us the investment flexibility to continue driving long-term sustainable competitive advantage. So thank you very much for the question. Olympia McNerney: Great. Operator, let's take our next question. Operator: Thank you. And your next question comes from Wamsi Mohan with Bank of America”