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 Jack Henry & Associates (JKHY) spend its free cash flow?

For TTM through Q1 2026, Jack Henry & Associates generated $786M of operating cash flow and $728M of free cash flow — a free cash flow margin of 92.5% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did Jack Henry & Associates (JKHY) return via buybacks and dividends?

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

Jack Henry & Associates (JKHY) Cash Flow Waterfall

Operating CF

$786M

Capex

-$58.8M

Free Cash Flow

$728M

FCF Margin

+92.5%

Cash flow waterfall for Jack Henry & Associates (JKHY) — TTM through Q1 2026

Free cash flow: $728M

Cash flow breakdown for Jack Henry & Associates (JKHY) — TTM through Q1 2026

Line item	Amount	Running total
Operating Cash Flow	$786M	$786M
Capital Expenditure	-$58.8M	$728M
Free Cash Flow	$728M	$728M
Acquisitions	-$17.8M	$710M
Other Investing	-$199M	$510M
Share Buybacks	-$284M	$226M
Dividends Paid	-$170M	$56.4M
Net Debt Change	-$80M	-$23.6M
Other Financing & FX	$4.35M	-$19.3M
Net Cash Decrease	-$19.3M	-$19.3M

Operating Cash Flow$786M
Capital Expenditure-$58.8M
Free Cash Flow$728M
Acquisitions-$17.8M
Other Investing-$199M
Share Buybacks-$284M
Dividends Paid-$170M
Net Debt Change-$80M
Other Financing & FX$4.35M
Net Cash Decrease-$19.3M

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

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