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 Parker-Hannifin (PH) spend its free cash flow?

For TTM through Q1 2026, Parker-Hannifin generated $4.1B of operating cash flow and $3.68B of free cash flow — a free cash flow margin of 89.8% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did Parker-Hannifin (PH) return via buybacks and dividends?

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

Parker-Hannifin (PH) Cash Flow Waterfall

Operating CF

$4.1B

Capex

-$417M

Free Cash Flow

$3.68B

FCF Margin

+89.8%

Cash flow waterfall for Parker-Hannifin (PH) — TTM through Q1 2026

Free cash flow: $3.68B

Cash flow breakdown for Parker-Hannifin (PH) — TTM through Q1 2026

Line item	Amount	Running total
Operating Cash Flow	$4.1B	$4.1B
Capital Expenditure	-$417M	$3.68B
Free Cash Flow	$3.68B	$3.68B
Acquisitions	-$1.01B	$2.66B
Other Investing	$70.7M	$2.74B
Share Buybacks	-$1.91B	$826M
Dividends Paid	-$914M	-$87.4M
Net Debt Change	$161M	$73.6M
Other Financing & FX	-$6.32M	$67.3M
Net Cash Increase	$67.3M	$67.3M

Operating Cash Flow$4.1B
Capital Expenditure-$417M
Free Cash Flow$3.68B
Acquisitions-$1.01B
Other Investing$70.7M
Share Buybacks-$1.91B
Dividends Paid-$914M
Net Debt Change$161M
Other Financing & FX-$6.32M
Net Cash Increase$67.3M

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

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