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 Match Group (MTCH) spend its free cash flow?

For TTM through Q1 2026, Match Group generated $1.08B of operating cash flow and $1.02B of free cash flow — a free cash flow margin of 94.3% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did Match Group (MTCH) return via buybacks and dividends?

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

Match Group (MTCH) Cash Flow Waterfall

Operating CF

$1.08B

Capex

-$61.7M

Free Cash Flow

$1.02B

FCF Margin

+94.3%

Cash flow waterfall for Match Group (MTCH) — TTM through Q1 2026

Free cash flow: $1.02B

Cash flow breakdown for Match Group (MTCH) — TTM through Q1 2026

Line item	Amount	Running total
Operating Cash Flow	$1.08B	$1.08B
Capital Expenditure	-$61.7M	$1.02B
Free Cash Flow	$1.02B	$1.02B
Other Investing	$11M	$1.03B
Share Buybacks	-$735M	$296M
Dividends Paid	-$183M	$113M
Net Debt Change	$544M	$657M
Other Financing & FX	-$46M	$611M
Net Cash Increase	$611M	$611M

Operating Cash Flow$1.08B
Capital Expenditure-$61.7M
Free Cash Flow$1.02B
Other Investing$11M
Share Buybacks-$735M
Dividends Paid-$183M
Net Debt Change$544M
Other Financing & FX-$46M
Net Cash Increase$611M

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

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