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 Corteva (CTVA) spend its free cash flow?

For TTM through Q1 2026, Corteva generated $2.62B of operating cash flow and $2.05B of free cash flow — a free cash flow margin of 78% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did Corteva (CTVA) return via buybacks and dividends?

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

Corteva (CTVA) Cash Flow Waterfall

Operating CF

$2.62B

Capex

-$578M

Free Cash Flow

$2.05B

FCF Margin

+78.0%

Cash flow waterfall for Corteva (CTVA) — TTM through Q1 2026

Free cash flow: $2.05B

Cash flow breakdown for Corteva (CTVA) — TTM through Q1 2026

Line item	Amount	Running total
Operating Cash Flow	$2.62B	$2.62B
Capital Expenditure	-$578M	$2.05B
Free Cash Flow	$2.05B	$2.05B
Other Investing	-$8M	$2.04B
Share Buybacks	-$1.05B	$987M
Dividends Paid	-$480M	$507M
Net Debt Change	-$742M	-$235M
Other Financing	$23M	-$212M
Forex Effect	-$146M	-$358M
Net Cash Decrease	-$358M	-$358M

Operating Cash Flow$2.62B
Capital Expenditure-$578M
Free Cash Flow$2.05B
Other Investing-$8M
Share Buybacks-$1.05B
Dividends Paid-$480M
Net Debt Change-$742M
Other Financing$23M
Forex Effect-$146M
Net Cash Decrease-$358M

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

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