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 Leggett & Platt (LEG) spend its free cash flow?

For TTM through Q1 2026, Leggett & Platt generated $275M of operating cash flow and $207M of free cash flow — a free cash flow margin of 75.2% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did Leggett & Platt (LEG) return via buybacks and dividends?

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

Leggett & Platt (LEG) Cash Flow Waterfall

Operating CF

$275M

Capex

-$68.2M

Free Cash Flow

$207M

FCF Margin

+75.2%

Cash flow waterfall for Leggett & Platt (LEG) — TTM through Q1 2026

Free cash flow: $207M

Note: Other Investing is large — driven mainly by purchases or sales of investments.

Cash flow breakdown for Leggett & Platt (LEG) — TTM through Q1 2026

Line item	Amount	Running total
Operating Cash Flow	$275M	$275M
Capital Expenditure	-$68.2M	$207M
Free Cash Flow	$207M	$207M
Acquisitions	$65.2M	$272M
Other Investing	$292M	$565M
Dividends Paid	-$27.1M	$538M
Net Debt Change	-$821M	-$283M
Other Financing & FX	$381M	$97.9M
Net Cash Increase	$97.9M	$97.9M

Operating Cash Flow$275M
Capital Expenditure-$68.2M
Free Cash Flow$207M
Acquisitions$65.2M
Other Investing$292M
Dividends Paid-$27.1M
Net Debt Change-$821M
Other Financing & FX$381M
Net Cash Increase$97.9M

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

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