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 Eversource Energy (ES) spend its free cash flow?

For TTM through Q1 2026, Eversource Energy generated $4.4B of operating cash flow and $237M of free cash flow — a free cash flow margin of 5.4% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did Eversource Energy (ES) return via buybacks and dividends?

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

Eversource Energy (ES) Cash Flow Waterfall

Operating CF

$4.4B

Capex

-$4.16B

Free Cash Flow

$237M

FCF Margin

+5.4%

Cash flow waterfall for Eversource Energy (ES) — TTM through Q1 2026

Free cash flow: $237M

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

Cash flow breakdown for Eversource Energy (ES) — TTM through Q1 2026

Line item	Amount	Running total
Operating Cash Flow	$4.4B	$4.4B
Capital Expenditure	-$4.16B	$237M
Free Cash Flow	$237M	$237M
Other Investing	-$296M	-$59.6M
Dividends Paid	-$1.12B	-$1.18B
Net Debt Change	$893M	-$287M
Other Financing & FX	$421M	$134M
Net Cash Increase	$134M	$134M

Operating Cash Flow$4.4B
Capital Expenditure-$4.16B
Free Cash Flow$237M
Other Investing-$296M
Dividends Paid-$1.12B
Net Debt Change$893M
Other Financing & FX$421M
Net Cash Increase$134M

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

Frequently asked questions

Data & methodology

Eversource Energy (ES) Key Financials

Charts, filings, and peer comparison for every metric

Explore more

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

Overview

ES Overview

Counters

Income Statement

Cash Flow

Capital Return

How this company returns cash to shareholders — buybacks, dividends, and stock splits.

Forecast & Valuation