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 Kimco Realty (KIM) spend its free cash flow?

For TTM through Q1 2026, Kimco Realty generated $1.14B of operating cash flow and $844M of free cash flow — a free cash flow margin of 74.1% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did Kimco Realty (KIM) return via buybacks and dividends?

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

Kimco Realty (KIM) Cash Flow Waterfall

Operating CF

$1.14B

Capex

-$295M

Free Cash Flow

$844M

FCF Margin

+74.1%

Cash flow waterfall for Kimco Realty (KIM) — TTM through Q1 2026

Free cash flow: $844M

Cash flow breakdown for Kimco Realty (KIM) — TTM through Q1 2026

Line item	Amount	Running total
Operating Cash Flow	$1.14B	$1.14B
Capital Expenditure	-$295M	$844M
Free Cash Flow	$844M	$844M
Other Investing	-$222K	$843M
Dividends Paid	-$720M	$123M
Net Debt Change	$115M	$238M
Other Financing & FX	-$201M	$37.1M
Net Cash Increase	$37.1M	$37.1M

Operating Cash Flow$1.14B
Capital Expenditure-$295M
Free Cash Flow$844M
Other Investing-$222K
Dividends Paid-$720M
Net Debt Change$115M
Other Financing & FX-$201M
Net Cash Increase$37.1M

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

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Kimco Realty (KIM) Key Financials

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Income Statement

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Profitability

Operating Margin36.1%

Cash Flow

Capital Return

Forecast & Valuation

Operations

Employees710.0

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