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 Public Service Enterprise Group (PEG) spend its free cash flow?

For TTM through Q1 2026, Public Service Enterprise Group generated $2.95B of operating cash flow and -$64M of free cash flow — a free cash flow margin of -2.2% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did Public Service Enterprise Group (PEG) return via buybacks and dividends?

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

Public Service Enterprise Group (PEG) Cash Flow Waterfall

Operating CF

$2.95B

Capex

-$3.02B

Free Cash Flow

-$64M

FCF Margin

-2.2%

Cash flow waterfall for Public Service Enterprise Group (PEG) — TTM through Q1 2026

Free cash flow: -$64M

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

Cash flow breakdown for Public Service Enterprise Group (PEG) — TTM through Q1 2026

Line item	Amount	Running total
Operating Cash Flow	$2.95B	$2.95B
Capital Expenditure	-$3.02B	-$64M
Free Cash Flow	-$64M	-$64M
Other Investing	-$339M	-$403M
Dividends Paid	-$1.28B	-$1.68B
Net Debt Change	$725M	-$956M
Other Financing	$356M	-$600M
Forex Effect	$139M	-$461M
Net Cash Decrease	-$461M	-$461M

Operating Cash Flow$2.95B
Capital Expenditure-$3.02B
Free Cash Flow-$64M
Other Investing-$339M
Dividends Paid-$1.28B
Net Debt Change$725M
Other Financing$356M
Forex Effect$139M
Net Cash Decrease-$461M

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

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