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 BancFirst (BANF) spend its free cash flow?

For TTM through Q1 2026, BancFirst generated $284M of operating cash flow and $236M of free cash flow — a free cash flow margin of 83.2% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did BancFirst (BANF) return via buybacks and dividends?

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

BancFirst (BANF) Cash Flow Waterfall

Operating CF

$284M

Capex

-$47.8M

Free Cash Flow

$236M

FCF Margin

+83.2%

Cash flow waterfall for BancFirst (BANF) — TTM through Q1 2026

Free cash flow: $236M

Note: Other Investing is large — driven mainly by acquisitions and investment activity.

Cash flow breakdown for BancFirst (BANF) — TTM through Q1 2026

Line item	Amount	Running total
Operating Cash Flow	$284M	$284M
Capital Expenditure	-$47.8M	$236M
Free Cash Flow	$236M	$236M
Other Investing	$110M	$346M
Dividends Paid	-$63.4M	$283M
Net Debt Change	-$11.1M	$272M
Other Financing & FX	$438M	$710M
Net Cash Increase	$710M	$710M

Operating Cash Flow$284M
Capital Expenditure-$47.8M
Free Cash Flow$236M
Other Investing$110M
Dividends Paid-$63.4M
Net Debt Change-$11.1M
Other Financing & FX$438M
Net Cash Increase$710M

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

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