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 Performance Food Group (PFGC) spend its free cash flow?

For TTM through Q1 2026, Performance Food Group generated $1.45B of operating cash flow and $1.01B of free cash flow — a free cash flow margin of 69.2% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did Performance Food Group (PFGC) return via buybacks and dividends?

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

Performance Food Group (PFGC) Cash Flow Waterfall

Operating CF

$1.45B

Capex

-$449M

Free Cash Flow

$1.01B

FCF Margin

+69.2%

Cash flow waterfall for Performance Food Group (PFGC) — TTM through Q1 2026

Free cash flow: $1.01B

Cash flow breakdown for Performance Food Group (PFGC) — TTM through Q1 2026

Line item	Amount	Running total
Operating Cash Flow	$1.45B	$1.45B
Capital Expenditure	-$449M	$1.01B
Free Cash Flow	$1.01B	$1.01B
Acquisitions	-$428M	$578M
Other Investing	$5.7M	$584M
Share Buybacks	-$39.9M	$544M
Net Debt Change	-$542M	$2.7M
Other Financing & FX	$33.4M	$36.1M
Net Cash Increase	$36.1M	$36.1M

Operating Cash Flow$1.45B
Capital Expenditure-$449M
Free Cash Flow$1.01B
Acquisitions-$428M
Other Investing$5.7M
Share Buybacks-$39.9M
Net Debt Change-$542M
Other Financing & FX$33.4M
Net Cash Increase$36.1M

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

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Capital Return

Buybacks0.31% TTM

How this company returns cash to shareholders — buybacks, dividends, and stock splits.

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