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 IDEXX Laboratories (IDXX) spend its free cash flow?

For TTM through Q1 2026, IDEXX Laboratories generated $1.21B of operating cash flow and $1.08B of free cash flow — a free cash flow margin of 89.5% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did IDEXX Laboratories (IDXX) return via buybacks and dividends?

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

IDEXX Laboratories (IDXX) Cash Flow Waterfall

Operating CF

$1.21B

Capex

-$127M

Free Cash Flow

$1.08B

FCF Margin

+89.5%

Cash flow waterfall for IDEXX Laboratories (IDXX) — TTM through Q1 2026

Free cash flow: $1.08B

Cash flow breakdown for IDEXX Laboratories (IDXX) — TTM through Q1 2026

Line item	Amount	Running total
Operating Cash Flow	$1.21B	$1.21B
Capital Expenditure	-$127M	$1.08B
Free Cash Flow	$1.08B	$1.08B
Other Investing	-$13.5M	$1.07B
Share Buybacks	-$1.17B	-$101M
Net Debt Change	$32.1M	-$68.8M
Other Financing & FX	$105M	$36.6M
Net Cash Increase	$36.6M	$36.6M

Operating Cash Flow$1.21B
Capital Expenditure-$127M
Free Cash Flow$1.08B
Other Investing-$13.5M
Share Buybacks-$1.17B
Net Debt Change$32.1M
Other Financing & FX$105M
Net Cash Increase$36.6M

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

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