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 Honeywell Aerospace Inc. Common Stock When Issued (HONAV) spend its free cash flow?

For FY 2025, Honeywell Aerospace Inc. Common Stock When Issued generated $3.71B of operating cash flow and $3.20B of free cash flow — a free cash flow margin of 86.4% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did Honeywell Aerospace Inc. Common Stock When Issued (HONAV) return via buybacks and dividends?

The waterfall shows buybacks (share repurchases) and dividends paid as separate steps in the financing section. Together these represent Honeywell Aerospace Inc. Common Stock When Issued's shareholder returns for FY 2025. You can compare these against free cash flow to assess the capital-return payout ratio.

Honeywell Aerospace Inc. Common Stock When Issued (HONAV) Cash Flow Waterfall

Operating CF

$3.71B

Capex

−$504.00M

Free Cash Flow

$3.20B

FCF Margin

+86.4%

Cash flow waterfall for Honeywell Aerospace Inc. Common Stock When Issued (HONAV) — FY 2025

Free cash flow: $3.20B

Cash flow breakdown for Honeywell Aerospace Inc. Common Stock When Issued (HONAV) — FY 2025

Line item	Amount	Running total
Operating Cash Flow	$3.71B	$3.71B
Capital Expenditure	−$504.00M	$3.20B
Free Cash Flow	$3.20B	$3.20B
Other Investing	−$21.00M	$3.18B
Other Financing & FX	−$3.21B	−$31.00M
Net Cash Decrease	−$31.00M	−$31.00M

Operating Cash Flow$3.71B
Capital Expenditure−$504.00M
Free Cash Flow$3.20B
Other Investing−$21.00M
Other Financing & FX−$3.21B
Net Cash Decrease−$31.00M

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

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