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 Qnity Electronics (Q) spend its free cash flow?

For TTM through Q1 2026, Qnity Electronics generated $1.2B of operating cash flow and $898M of free cash flow — a free cash flow margin of 74.8% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did Qnity Electronics (Q) return via buybacks and dividends?

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

Qnity Electronics (Q) Cash Flow Waterfall

Operating CF

$1.2B

Capex

-$303M

Free Cash Flow

$898M

FCF Margin

+74.8%

Cash flow waterfall for Qnity Electronics (Q) — TTM through Q1 2026

Free cash flow: $898M

Cash flow breakdown for Qnity Electronics (Q) — TTM through Q1 2026

Line item	Amount	Running total
Operating Cash Flow	$1.2B	$1.2B
Capital Expenditure	-$303M	$898M
Free Cash Flow	$898M	$898M
Other Investing	-$1M	$897M
Share Buybacks	-$25M	$872M
Dividends Paid	-$30M	$842M
Net Debt Change	$4.01B	$4.85B
Other Financing & FX	-$4.15B	$695M
Net Cash Increase	$695M	$695M

Operating Cash Flow$1.2B
Capital Expenditure-$303M
Free Cash Flow$898M
Other Investing-$1M
Share Buybacks-$25M
Dividends Paid-$30M
Net Debt Change$4.01B
Other Financing & FX-$4.15B
Net Cash Increase$695M

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

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