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 Rollins (ROL) spend its free cash flow?

For TTM through Q2 2026, Rollins generated $647M of operating cash flow and $619M of free cash flow — a free cash flow margin of 95.7% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did Rollins (ROL) return via buybacks and dividends?

The waterfall shows buybacks (share repurchases) and dividends paid as separate steps in the financing section. Together these represent Rollins's shareholder returns for TTM through Q2 2026. You can compare these against free cash flow to assess the capital-return payout ratio.

Rollins (ROL) Cash Flow Waterfall

Operating CF

$647M

Capex

-$27.8M

Free Cash Flow

$619M

FCF Margin

+95.7%

Cash flow waterfall for Rollins (ROL) — TTM through Q2 2026

Free cash flow: $619M

Cash flow breakdown for Rollins (ROL) — TTM through Q2 2026

Line item	Amount	Running total
Operating Cash Flow	$647M	$647M
Capital Expenditure	-$27.8M	$619M
Free Cash Flow	$619M	$619M
Acquisitions	-$191M	$428M
Other Investing	$9.18M	$437M
Share Buybacks	-$245M	$192M
Dividends Paid	-$344M	-$152M
Net Debt Change	-$298M	-$450M
Other Financing & FX	$436M	-$14M
Net Cash Decrease	-$6.49M	-$6.49M

Operating Cash Flow$647M
Capital Expenditure-$27.8M
Free Cash Flow$619M
Acquisitions-$191M
Other Investing$9.18M
Share Buybacks-$245M
Dividends Paid-$344M
Net Debt Change-$298M
Other Financing & FX$436M
Net Cash Decrease-$6.49M

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

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