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 Regency Centers (REG) spend its free cash flow?

For TTM through Q1 2026, Regency Centers generated $820M of operating cash flow and $587M of free cash flow — a free cash flow margin of 71.6% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did Regency Centers (REG) return via buybacks and dividends?

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

Regency Centers (REG) Cash Flow Waterfall

Operating CF

$820M

Capex

-$233M

Free Cash Flow

$587M

FCF Margin

+71.6%

Cash flow waterfall for Regency Centers (REG) — TTM through Q1 2026

Free cash flow: $587M

Cash flow breakdown for Regency Centers (REG) — TTM through Q1 2026

Line item	Amount	Running total
Operating Cash Flow	$820M	$820M
Capital Expenditure	-$233M	$587M
Free Cash Flow	$587M	$587M
Acquisitions	-$65.6M	$521M
Other Investing	-$37.4M	$484M
Dividends Paid	-$673M	-$189M
Net Debt Change	$209M	$20.2M
Other Financing & FX	$47.1M	$67.3M
Net Cash Increase	$67.1M	$67.1M

Operating Cash Flow$820M
Capital Expenditure-$233M
Free Cash Flow$587M
Acquisitions-$65.6M
Other Investing-$37.4M
Dividends Paid-$673M
Net Debt Change$209M
Other Financing & FX$47.1M
Net Cash Increase$67.1M

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

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Regency Centers (REG) Key Financials

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Income Statement

Balance Sheet

Profitability

Operating Margin47.2%

Cash Flow

Capital Return

Forecast & Valuation

Operations

Employees507.0

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