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Code examples, market analysis, and data quality deep-dives.

Where to Get Free Cash Flow Data for Stocks in Python
Are Stock Returns Skewed? Return Skewness in Python
Do High-Margin Companies Trade at Higher Multiples? EV/Sales in Python
How Much Profit Becomes Cash? Free Cash Flow Conversion in Python
Which Sectors Lead Out of a Market Bottom? Sector Recovery Analysis in Python
Are Buybacks Funded by Cash Flow or by Debt? S&P 500 Payout Analysis in Python
What to Look for in Fundamentals Data
Does Cash on the Balance Sheet Cushion a Crash? Quintile Sorts in Python
Do Corporate Insiders Time the Market? S&P 500 Insider Buying Breadth in Python
Does Unstable Volatility Warn of Deeper Drawdowns? Vol-of-Vol Sorts in Python
Does Fast Asset Growth Predict Weak Stock Returns? Decile Sorts in Python
How to Replace yfinance in a Python Script
Does the Nasdaq-100 Index Effect Still Exist? Event Study in Python
Does the Piotroski F-Score Still Work? Quality Screening in Python
How Many S&P 500 Stocks Beat the Index? Return Breadth Analysis in Python
Why Beta Differs Between Data Sources
Where to Get Historical Dividend Data for Stocks
Does a High Dividend Yield Predict a Dividend Cut? Yield-Trap Screening in Python
Do Old Ticker Symbols Still Point to the Same Company? S&P 500 Ticker Recycling in Python
What Growth Is Priced Into the S&P 500? Reverse DCF in Python
Ticker vs CIK vs FIGI: Which Company ID to Use
Does Illiquidity Still Pay? Amihud Measure in the S&P 500 in Python
Where to Get R&D Spending Data for Public Companies
Does R&D Spending Predict Revenue Growth? Cross-Sectional Test in Python
What Actually Drives Return on Equity? DuPont Decomposition in Python
What Data Do You Need to Measure Portfolio Risk?
Does a 60/40 Portfolio Actually Cut Drawdowns? Stocks and Bonds in Python
Do Steady Margins Mean Calmer Stocks? Cross-Sectional Analysis in Python
Do Sectors Diversify When It Matters? Conditional Correlation in Python
How to Get Historical Market Cap Data in Python
How Much of the S&P 500 Survives 20 Years? Index Turnover Analysis in Python
Does Joining the S&P 500 Bring New Institutional Owners? 13F Event Study in Python
Is Volatility Seasonal? Calendar Month Analysis of Realized Volatility in Python
Does Fast Revenue Growth Force Companies to Borrow? Cash Funding Analysis in Python
How Far Back Does SEC EDGAR Data Go?
Are One-Time Charges Really One-Time? Charge Frequency Analysis in Python
Does Buying the Dip Work? Short-Term Reversal by Volatility Regime in Python
Alpha Vantage vs Massive vs xfinlink for Fundamentals
How Long Does a Stock Take to Recover From a 50% Fall? Drawdown Analysis in Python
Do Companies That Shrink Their Share Count Outperform? Net Buyback Yield in Python
How Much Does the Dow's Price Weighting Distort It? Index Weighting Analysis in Python
How to Get SEC Form 4 Insider Trading Data in Python
Can Anything Predict Next Month's Stock Returns? Out-of-Sample R-Squared Testing in Python
How Much of a Stock's Return Comes From Its Sector? Variance Decomposition in Python
Altman Z-Score: Where To Get It in Python
Do Value Screens Agree on Which Stocks Are Cheap? Multiple Overlap Analysis in Python
Annual vs Quarterly Financial Data: Which to Use
Do High Returns on Capital Persist? ROIC Fade Analysis in Python
Does Past Beta Predict Future Beta? Beta Stability Testing in Python
Do Defensive Sectors Actually Defend? Up and Down Capture in Python
How to Choose a Financial Data API
Do Small Caps Actually Beat Large Caps? Size Premium Test in Python
What If You Miss the Market's Best Days? Extreme-Day Analysis in Python
Does Rebalancing Add Return? Fixed-Weight vs Drift Portfolios in Python
Which S&P 500 Companies Are Closest to Default? Merton Distance-to-Default in Python
What Happens to Stocks Removed From the S&P 500? Replacement Pair Analysis in Python
Does the Golden Cross Work? 50/200 Moving Average Crossover Backtest in Python
Financial Data for Academic Finance Research
Does Skipping the Most Recent Month Improve Momentum? S&P 500 Decile Sorts in Python
Does Cointegration Survive Out of Sample? Pairs Trading Validation in Python
Which Dividends Are Not Covered by Cash? Free-Cash-Flow Coverage Screening in Python
GICS vs SIC vs NAICS: Which Industry Classification to Use
How Many Stocks Does It Take to Diversify? Random Portfolio Simulation in Python
How Many Days of Data Does a Volatility Estimate Need? Range-Based Estimators in Python
How Much of S&P 500 Cash Flow Is Stock Compensation? Cross-Sectional Analysis in Python
What Is a 13F Filing? Institutional Holdings Explained
Does Revenue Growth Explain Profit Growth? Cross-Sectional Decomposition in Python
How Much of the Nasdaq 100 Is Already in the S&P 500? Index Overlap Analysis in Python
How Often Does a 99% Value-at-Risk Limit Actually Break? VaR Backtesting in Python
Real-Time vs End-of-Day Market Data: Which Do You Need?
How Concentrated Are S&P 500 Earnings? Point-in-Time Index Analysis in Python
Does Volatility Scale With the Square Root of Time? Variance Ratio Test in Python
Does Goodwill Distort the Price-to-Book Screen? Goodwill-Adjusted Valuation in Python
How Are Shares Outstanding Reported (and Why They Disagree)
Do Low-Volatility Stocks Deliver Better Risk-Adjusted Returns? S&P 500 Quintile Sorts in Python
Does Trend Following Beat Buy and Hold? Time-Series Momentum in Python
Has the Stock-Bond Correlation Flipped? 60/40 Portfolio Risk in Python
What API to Use for a Stock Screener
Which Assets Hedge Inflation Shocks? Macro Factor Betas in Python
Does Covariance Shrinkage Beat the Sample Covariance? Minimum-Variance Portfolios in Python
Do Faster Inventory Turns Mean Thinner Margins? Gross Margin Return on Inventory in Python
SEC EDGAR API vs Fundamentals API: Which to Use
Does Fast Earnings Growth Persist? Rank Correlation Analysis in Python
Split Adjustment Explained: Adjusted Close vs Close
Which Trading Day of the Month Pays Best? Turn-of-the-Month Analysis in Python
Can You Use Yahoo Finance Data Commercially?
How Many Independent Bets Does a Nine-Sector Portfolio Give You? Eigenvalue Analysis in Python
Which Volatility Forecast Wins One Month Ahead? HAR vs EWMA in Python
How Concentrated Are Institutional Equity Portfolios? Form 13F Concentration Analysis in Python
Do Stocks Earn Their Returns Overnight or Intraday? Return Decomposition in Python
When Do Corporate Insiders Actually Trade? Form 4 Timing Analysis in Python
Data Requirements for Backtesting a Trading Strategy
What Is Survivorship Bias in Backtesting?
Do High Dividend Yields Come From Bigger Payouts or Falling Prices? Yield Decomposition in Python
Do Stocks Fall Harder Than They Rise? Downside Beta vs Upside Beta in Python
Does Volatility Targeting Improve Sharpe Ratios? Seven-Asset Backtest in Python
Free Stock Market Data APIs: What You Actually Get
How to Give an LLM Financial Data With an MCP Server
Does Post-Earnings Announcement Drift Survive Real Filing Dates? PEAD Event Study in Python
Do Insider Buying Clusters Predict Returns? Signal Testing in Python
Does the S&P 500 Index Effect Still Exist? Event Study in Python
Are Companies Leaving the S&P 500 Faster Than They Used To? Index Survival Analysis in Python
Does Gross Profitability Predict Stock Returns? Quintile Factor Test in Python
What Growth Rate Is the Market Pricing In? Reverse DCF in Python
Does a Strong Balance Sheet Cushion Drawdowns? Leverage and Downside Risk in Python
Does Ticker Recycling Corrupt a Mean-Reversion Backtest? Entity-Resolved Z-Scores in Python
How Much of a Growth Screen's Backtested Edge Is Survivorship Bias? Point-in-Time Index Testing in Python
Why Do Leveraged ETFs Decay? Measuring Volatility Drag in Python
Are Consumer Staples Margins Shrinking Under Inflation? Gross Margin Trend Analysis in Python
Do Weak Jobs Reports Predict Market Drawdowns? NFP Surprise Event Study in Python
Is the Rotation From Tech to Industrials Backed by Earnings? Relative EPS Growth Analysis in Python
Is the Semiconductor Rally Broadening Beyond NVIDIA? Return Dispersion Analysis in Python
Which Stocks Benefit Most When Oil Prices Fall? Oil Beta Screening in Python
Do Bond Returns Predict Stock Returns? Granger Causality Test in Python
Which Stocks Actually Drive Portfolio Returns? Shapley Value Attribution in Python
Does "Sell in May" Still Work? Calendar Anomaly Backtest in Python
How to Build Complete Price History Through Ticker Changes? Entity Resolution in Python
Are KO and PEP Cointegrated? Pairs Trading Signal Construction in Python
Which Commodities Have the Strongest Momentum? Rotation Backtest in Python
Which Commodity ETFs Have the Worst Tail Risk? Expected Shortfall in Python
Are Gold Miners Leveraged Gold Bets? Rolling Beta Analysis in Python
Does the Base-Metals-to-Gold Ratio Lead Cyclical Stocks? Signal Test in Python
Can Risk Parity Tame Commodity Volatility? Portfolio Optimization in Python
Are Power Stocks Becoming an AI Infrastructure Trade? Momentum Screening in Python
Which AI Chip Stocks Have Margin Momentum? Profitability Trend Analysis in Python
Which AI Stocks Are Cheapest Relative to Growth? Growth-Adjusted Valuation in Python
Does AI Stock Leadership Persist? Momentum Backtest in Python
Which AI Stocks Have the Cleanest Balance Sheets? Net Cash Screening in Python
Can Risk Parity Reduce Mega-Cap Drawdowns? Portfolio Optimization in Python
Which Growth Stocks Are Self-Funding? Cash-Flow Quality Screening in Python
Which Sectors Struggle When the Dollar Rallies? Sector Rotation Analysis in Python
Do Cheap Stocks Hold Up When Bonds Sell Off? Valuation Rotation in Python
Does the Nasdaq 100 Have Better Growth Quality Than the Dow? Index Constituent Analysis in Python
Do Healthcare Cash-Flow Margins Predict Returns? Signal Evaluation in Python
Which Dividend Stocks Survive a Cash-Flow Stress Test? Dividend Screening in Python
Does Heavy Insider Selling Predict Weak Returns? Insider Flow Test in Python
Can Quality Screens Reduce Small-Cap Balance-Sheet Risk? Russell 2000 Test in Python
Which Retailers Have Positive Operating Leverage? Margin Screening in Python
Is MSTR a Leveraged Bitcoin Proxy? Rolling Beta Analysis in Python
Is Micron's Memory Cycle Recovering? Inventory and Margin Forecasting in Python
Which Sectors Work When Bonds Rally? Rate-Sensitive Rotation in Python
Do One-Month Price Extremes Reverse? Signal Evaluation in Python
Do Low-Volatility S&P 500 Stocks Reduce Drawdowns? Factor Test in Python
Is AI Capex Paying Back Fast Enough? Revenue Hurdle Forecasting in Python
Could Shorter AI Asset Lives Hit Earnings? Depreciation Stress Test in Python
How Much AI Capex Risk Can a Portfolio Remove? Constrained Optimization in Python
Is the AI Capex Trade Crowded? Rolling Volatility and Sector Rotation in Python
Did the AI Boom Come From Existing S&P 500 Members? Point-in-Time Momentum Test in Python
Is AI Revenue Circular? Customer-Vendor Capex Loop Analysis in Python
Is the AI Trade Connected to Private Credit? Rolling Correlation Network in Python
Is Apollo More Balance-Sheet Sensitive Than Peers? Leverage Screen in Python
Are AI Earnings Supported by Cash Flow? Accrual and Capex Screen in Python
Can Defensive Stocks Hedge AI Drawdowns? Basket Regime Test in Python
How Fast Does the Market Price In Fed Decisions? FOMC Event Study in Python
How Much Are Options Sellers Overpaid? The Variance Risk Premium in Python
Which Companies Have the Worst Earnings Quality? Sloan Accrual Screen with Geographic Revenue Data in Python
Does the Oil-to-Gold Ratio Signal Recessions? XLE/GLD Backtest in Python
Is AI Spending Crowding Out Free Cash Flow? Capex Sustainability Across the Mag 7 in Python
Does a Long Energy / Short Bonds Portfolio Capture Inflation Surprises? Factor Construction in Python
Can a Hidden Markov Model Detect Oil Market Regimes? HMM Analysis in Python
Do Grain Prices Predict Food Inflation? Granger Causality Test in Python
Does the Corporate Credit Spread Predict Stock Market Crashes? BAA-AAA Spread Analysis in Python
Do Oil Stocks Hedge Inflation? Rolling Beta Analysis in Python
Which Stocks Are Most Rate-Sensitive? Equity Duration via Bond Beta in Python
Which Companies Have the Highest Accrual Ratios? Earnings Quality Screening in Python
Is Alpha Persistent or Decaying? Rolling Sharpe Ratio Analysis in Python
Are Markets Trending or Mean-Reverting? Hurst Exponent Analysis in Python
Is Consumer Discretionary vs Staples a Leading Indicator? XLY/XLP Ratio Analysis in Python
Does Heavy Capex Predict Future Stock Returns? Capital Expenditure Analysis in Python
How to Estimate Cost of Equity Using CAPM in Python
Is Volatility Predictable? Testing for Volatility Clustering in Python
Which Industrials Are Overleveraged? Net Debt to EBITDA Screening in Python
GM Before and After Bankruptcy: Why Entity Resolution Matters for Financial Data
What Is Adjusted Beta? Merrill Lynch Beta Shrinkage in Python
How Good Is a Stock Pick? Information Ratio and Tracking Error in Python
Do Stock Returns Follow a Normal Distribution? Testing for Fat Tails in Python
Which Large Caps Have the Highest Free Cash Flow Yield? FCF Screening in Python
Which Sectors Won Over 5 Years? Sector Rotation Analysis in Python
How to Forecast Stock Volatility with GARCH Models in Python
Are Stock Prices Mean-Reverting? Augmented Dickey-Fuller Test in Python
How to Calculate CAPM Alpha and Beta with Regression in Python
How to Compare Sector Sharpe Ratios and Sortino Ratios in Python
DELL: Why Stitching Historical Price Data Together Is Wrong
How to Analyze Drawdown and Recovery for Bank Stocks in Python
How to Screen SaaS Stocks by Revenue Growth and Cash Flow in Python
How to Screen REITs by Dividend Yield and Valuation in Python
How Correlated Are the Magnificent 7? Intra-Group Correlation in Python
AAPL vs XOM: Do Individual Stocks Have Seasonal Patterns?
How to Rank Large-Cap Stocks by Momentum in Python
How to Build a Multi-Endpoint Financial Dashboard in Python
How to Compare Volatility Across Energy Stocks in Python
How to Screen Healthcare Stocks by Valuation in Python
How to Build a Sector Correlation Matrix for Portfolio Diversification in Python
How to Find Oversold and Overbought Stocks Using Z-Scores in Python
How to Measure Earnings Quality: Cash Flow vs Net Income in Python
How to Build a Multi-Factor Stock Screen in Python (Value + Momentum + Quality)
How to Build a Simple DCF Model for Any Stock in Python
How to Screen Tech Stocks by Revenue Growth in Python
How to Screen Stocks by Balance Sheet Health in Python
Is "Sell in May" Real? SPY Monthly Seasonality Over 10 Years
How to Compare Sector Performance YTD Using Python
How to Screen Dividend Stocks by Yield and Quality in Python
How to Calculate Max Drawdown and Recovery Time for Any Stock in Python
How to Compare Profitability Across Mega-Cap Tech Stocks in Python
Why Ticker Symbols Are Unreliable: The Recycling Problem Every Quant Should Know
How to Calculate and Compare Stock Volatility in Python
How to Screen Blue-Chip Stocks by P/E Ratio in Python
How to Track Companies Through Ticker Changes, Bankruptcies, and Renames in Python
S&P 500 Turnover: How Much the Index Has Changed Since 2010
How to Calculate Stock Beta and Correlation in Python
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Where to Get Free Cash Flow Data for Stocks in Python

Free cash flow is the cash a company keeps after paying for the capital investment needed to run the business: operating cash flow minus capital expenditure. To get it in Python you have two routes. Pull a source that already reports the number, or pull the two components and subtract them yourself. xfinlink returns free_cash_flow as a field on the fundamentals endpoint, sitting next to the operating cash flow and capital expenditure it is built from, so the figure can be checked rather than taken on trust. yfinance and Alpha Vantage cover the same ground with more assembly, and each earns its place depending on how much history and reliability the work needs.

What counts as free cash flow?

The standard definition is operating cash flow less capital expenditure. Operating cash flow is the cash a business generates from its core activities, taken straight from the cash flow statement. Capital expenditure is what it spends on property, equipment, and other long-lived assets to keep running and to grow. What remains is the cash the business could return to owners or use to pay down debt without raising new money.

The definition has variants, and they matter when a precise number is needed. Free cash flow to the firm treats the whole capital structure; free cash flow to equity subtracts net borrowing to leave what belongs to shareholders. Some analysts also strip out acquisitions or capitalised software from the capital-expenditure line. For most screening and quality work the plain operating-cash-flow-minus-capex figure is the one people mean, and it is the one this guide retrieves.

How do you pull it in Python?

With xfinlink the number and its inputs come back together, so the arithmetic is visible on the row:

import xfinlink as xfl

xfl.set_api_key("YOUR_API_KEY")  # free at https://xfinlink.com/signup

df = xfl.fundamentals("AAPL", period_type="annual", period="6y",
                      fields=["operating_cash_flow", "capital_expenditures",
                              "free_cash_flow"]).sort_values("period_end")

cols = ["operating_cash_flow", "capital_expenditures", "free_cash_flow"]
df[cols] = (df[cols] / 1e3).round(1)   # statement values are in millions of USD
df["fiscal_year_end"] = df["period_end"].dt.date
print(df[["fiscal_year_end"] + cols].to_string(index=False))
fiscal_year_end  operating_cash_flow  capital_expenditures  free_cash_flow
     2020-09-26                 80.7                   7.3            73.4
     2021-09-25                104.0                  11.1            93.0
     2022-09-24                122.2                  10.7           111.4
     2023-09-30                110.5                  11.0            99.6
     2024-09-28                118.3                   9.4           108.8
     2025-09-27                111.5                  12.7            98.8

Because operating cash flow and capital expenditure arrive on the same row as the free cash flow, a figure that looks wrong can be traced to its parts immediately, rather than reconciled against a separate statement. The fundamentals are built from SEC EDGAR filings, so the numbers match what the company reported.

What do the free tools give you?

yfinance reads Yahoo Finance and exposes free cash flow directly. Ticker("AAPL").cashflow includes a Free Cash Flow row, and Ticker("AAPL").info["freeCashflow"] returns a single recent value. It is a reasonable choice for a quick current number in a script that runs once. The limits are depth and dependability: the history reaches back only a handful of years, and because the source is an unofficial scrape of Yahoo, the shape of the response changes from time to time and can break a pipeline without warning.

Alpha Vantage exposes a CASH_FLOW endpoint that returns operatingCashflow and capitalExpenditures on annual and quarterly reports. It does not return a free-cash-flow field, so the subtraction is left to the caller (verified against the Alpha Vantage API, August 2026). The schema is clean and normalised, which is its strength. The free tier is capped at 25 API requests per day as of August 2026, so a run across a few hundred names has to be spread over days or moved to a paid plan.

SEC EDGAR is the primary source underneath all of these. It serves the raw filings and an XBRL company-facts API for free, with the deepest history available anywhere. It returns individual reported concepts rather than a computed free-cash-flow line, so the assembly, including matching each concept to the right period and handling restatements, is the user’s job.

Which source fits the job?

The trade-off is history and reliability against convenience.

SourceDirect free-cash-flow fieldHistoryHow you get it
yfinanceYesA few yearsOne call; unofficial Yahoo scrape, schema can change
Alpha VantageNo (compute from two fields)LongCASH_FLOW endpoint; free tier 25 requests/day (Aug 2026)
SEC EDGARNo (raw concepts)DeepestAssemble from XBRL company facts yourself
xfinlinkYes, with components on the rowFull on paid plans; rolling 1 year freeOne call to the fundamentals endpoint

For a single current number on a handful of tickers, yfinance is quick and free, and there is no reason to reach for anything heavier. The picture changes once the work needs a long, consistent history: a free-cash-flow trend, a cash-conversion study, or a screen run across hundreds of companies. There the constraints on the free tools start to bind, and a source that returns the field with its inputs and a full back history removes the two steps most likely to introduce an error.

How far back do you need it?

One year of free cash flow answers almost nothing. A single year can be distorted by the timing of a tax payment, a working-capital swing, or one heavy year of capital spending. The signal is in the trend, which is why a cash-conversion or quality analysis wants ten years or more, and why the depth of a source matters as much as whether it reports the field at all. xfinlink serves the full annual and quarterly history on paid plans and a rolling one-year window on the free tier; details are on the pricing page, and the field list is in the docs.

Which free-cash-flow number should you trust?

Free cash flow is a derived figure, and providers disagree at the edges. The main source of disagreement is the capital-expenditure line: whether it includes capitalised software development, whether it nets proceeds from asset sales, and how it treats finance leases. Two providers can both be defensible and still differ by a few percent. The practical defence is to keep the components in view. When operating cash flow and capital expenditure sit on the same row as the free-cash-flow figure, any discrepancy against another source can be pinned to one of the two inputs in a moment. A worked example of reading these numbers across companies is in our note on free cash flow conversion.

FAQ

Is free cash flow the same as operating cash flow?
No. Operating cash flow is the cash from running the business; free cash flow subtracts the capital expenditure needed to sustain and grow it. A capital-heavy company can post strong operating cash flow and little or negative free cash flow.

Can I get free cash flow data for free?
Yes, for recent years. yfinance reports it directly, and both Alpha Vantage and SEC EDGAR give the components to compute it. The free constraint is depth and reliability across many names, not access to a current number.

Why does my free cash flow differ from a website’s?
Almost always the capital-expenditure definition. Check whether the other source includes capitalised software or leases, and whether it uses a levered or unlevered version. Comparing the operating-cash-flow and capex inputs directly usually locates the gap.

Built with xfinlink — free financial data API for Python. pip install -U xfinlink

Built with xfinlink — free financial data API for Python. pip install -U xfinlink
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