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 Coca-Cola Europacific Partners (CCEP) spend its free cash flow?

For TTM through Q4 2025, Coca-Cola Europacific Partners generated €5.98B of operating cash flow and €4.42B of free cash flow — a free cash flow margin of 73.9% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did Coca-Cola Europacific Partners (CCEP) return via buybacks and dividends?

The waterfall shows buybacks (share repurchases) and dividends paid as separate steps in the financing section. Together these represent Coca-Cola Europacific Partners's shareholder returns for TTM through Q4 2025. You can compare these against free cash flow to assess the capital-return payout ratio.

Coca-Cola Europacific Partners (CCEP) Cash Flow Waterfall

Operating CF

€5.98B

Capex

−€1.56B

Free Cash Flow

€4.42B

FCF Margin

+73.9%

Cash flow waterfall for Coca-Cola Europacific Partners (CCEP) — TTM through Q4 2025

Free cash flow: €4.42B

Cash flow breakdown for Coca-Cola Europacific Partners (CCEP) — TTM through Q4 2025

Line item	Amount	Running total
Operating Cash Flow	€5.98B	€5.98B
Capital Expenditure	−€1.56B	€4.42B
Free Cash Flow	€4.42B	€4.42B
Acquisitions	−€1.40B	€3.02B
Other Investing	€291.53M	€3.31B
Share Buybacks	−€1.44B	€1.87B
Dividends Paid	−€1.86B	€14.45M
Net Debt Change	−€1.40B	−€1.39B
Other Financing & FX	€886.96M	−€499.84M
Net Cash Increase	€919.16M	€919.16M

Operating Cash Flow€5.98B
Capital Expenditure−€1.56B
Free Cash Flow€4.42B
Acquisitions−€1.40B
Other Investing€291.53M
Share Buybacks−€1.44B
Dividends Paid−€1.86B
Net Debt Change−€1.40B
Other Financing & FX€886.96M
Net Cash Increase€919.16M

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

Frequently asked questions

Data & methodology

Coca-Cola Europacific Partners (CCEP) Key Financials

Charts, filings, and peer comparison for every metric

Explore more

Deep-dives across the income statement, cash flow, capital return, and valuation

Cash flow waterfall for Coca-Cola Europacific Partners (CCEP) — TTM through Q4 2025

Cash flow breakdown for Coca-Cola Europacific Partners (CCEP) — TTM through Q4 2025

Frequently asked questions

+What is a cash flow waterfall?

+How does Coca-Cola Europacific Partners (CCEP) spend its free cash flow?

+How much did Coca-Cola Europacific Partners (CCEP) return via buybacks and dividends?

Data & methodology

+What is this view?

+How to read this waterfall

+How is the data calculated?

Coca-Cola Europacific Partners (CCEP) Key Financials

Explore more