OCF Finance posted free cash flow of $162M, exceeding consensus by 6%. Strong OCF performance ensures flexibility in R&D investments and bolsters dividend distribution potential in coming quarters. For example, if Amazon's OCF margin remains at 18.0% (as in Q2 on a TTM basis), and capex stays flat at $103 billion over the NTM period, FCF could rise to: Intuitively, for a firm facing costly external financing and mark-ups in customer markets, there exists a trade-off between its current profit and its longer-run market share. When financially constrained, a firm may then raise its prices to boost liquidity, despite the loss of future market shares. Verifying this intuition empirically is, however, not straightforward. Indeed, the extent to which firms are financially constrained is not observable and elusive to quantify. Several characteristics at the firm level may potentially proxy its financial constraints. Macro trends such as easing inflation pressures and stable interest rates could provide OCF Finance tailwinds for FY