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 StoneX Group (SNEX) spend its free cash flow?

For TTM through Q1 2026, StoneX Group generated $7.97B of operating cash flow and $7.9B of free cash flow — a free cash flow margin of 99.1% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did StoneX Group (SNEX) return via buybacks and dividends?

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

StoneX Group (SNEX) Cash Flow Waterfall

Operating CF

$7.97B

Capex

-$73M

Free Cash Flow

$7.9B

FCF Margin

+99.1%

Cash flow waterfall for StoneX Group (SNEX) — TTM through Q1 2026

Free cash flow: $7.9B

Cash flow breakdown for StoneX Group (SNEX) — TTM through Q1 2026

Line item	Amount	Running total
Operating Cash Flow	$7.97B	$7.97B
Capital Expenditure	-$73M	$7.9B
Free Cash Flow	$7.9B	$7.9B
Acquisitions	-$384M	$7.51B
Other Investing	-$1.43B	$6.09B
Net Debt Change	$736M	$6.82B
Other Financing	-$22.6M	$6.8B
Forex Effect	-$2.31B	$4.49B
Net Cash Increase	$4.49B	$4.49B

Operating Cash Flow$7.97B
Capital Expenditure-$73M
Free Cash Flow$7.9B
Acquisitions-$384M
Other Investing-$1.43B
Net Debt Change$736M
Other Financing-$22.6M
Forex Effect-$2.31B
Net Cash Increase$4.49B

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

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