What is a cash flow waterfall?

A cash flow waterfall is a bar chart that walks from operating cash flow through capital expenditure to free cash flow, then shows how the remaining cash is allocated — acquisitions, buybacks, dividends, debt, and other financing — ending at the net change in cash. Each step is colour-coded: green bars add to the running total, red bars subtract.

How does Ames National (ATLO) spend its free cash flow?

For TTM through Q1 2026, Ames National generated $22.6M of operating cash flow and $22.4M of free cash flow — a free cash flow margin of 99.1% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did Ames National (ATLO) return via buybacks and dividends?

The waterfall shows buybacks (share repurchases) and dividends paid as separate steps in the financing section. Together these represent Ames National's shareholder returns for TTM through Q1 2026. You can compare these against free cash flow to assess the capital-return payout ratio.

Ames National (ATLO) Cash Flow Waterfall

Operating CF

$22.6M

Capex

-$210K

Free Cash Flow

$22.4M

FCF Margin

+99.1%

Cash flow waterfall for Ames National (ATLO) — TTM through Q1 2026

Free cash flow: $22.4M

Cash flow breakdown for Ames National (ATLO) — TTM through Q1 2026

Line item	Amount	Running total
Operating Cash Flow	$22.6M	$22.6M
Capital Expenditure	-$210K	$22.4M
Free Cash Flow	$22.4M	$22.4M
Other Investing	$6.62M	$29M
Share Buybacks	-$1.13M	$27.9M
Dividends Paid	-$7.46M	$20.4M
Net Debt Change	$8M	$28.4M
Other Financing & FX	-$73.6M	-$45.2M
Net Cash Decrease	-$45.2M	-$45.2M

Operating Cash Flow$22.6M
Capital Expenditure-$210K
Free Cash Flow$22.4M
Other Investing$6.62M
Share Buybacks-$1.13M
Dividends Paid-$7.46M
Net Debt Change$8M
Other Financing & FX-$73.6M
Net Cash Decrease-$45.2M

Want to see what drove the FCF change?Free Cash Flow Bridge

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