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 Solstice Advanced Materials (SOLS) spend its free cash flow?

For TTM through Q1 2026, Solstice Advanced Materials generated $494M of operating cash flow and $129M of free cash flow — a free cash flow margin of 26.1% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did Solstice Advanced Materials (SOLS) return via buybacks and dividends?

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

Solstice Advanced Materials (SOLS) Cash Flow Waterfall

Operating CF

$494M

Capex

-$365M

Free Cash Flow

$129M

FCF Margin

+26.1%

Cash flow waterfall for Solstice Advanced Materials (SOLS) — TTM through Q1 2026

Free cash flow: $129M

Cash flow breakdown for Solstice Advanced Materials (SOLS) — TTM through Q1 2026

Line item	Amount	Running total
Operating Cash Flow	$494M	$494M
Capital Expenditure	-$365M	$129M
Free Cash Flow	$129M	$129M
Other Investing	-$3M	$126M
Dividends Paid	-$1.51B	-$1.39B
Net Debt Change	$1.95B	$568M
Other Financing	-$574M	-$6M
Forex Effect	$136M	$130M
Net Cash Decrease	-$26M	-$26M

Operating Cash Flow$494M
Capital Expenditure-$365M
Free Cash Flow$129M
Other Investing-$3M
Dividends Paid-$1.51B
Net Debt Change$1.95B
Other Financing-$574M
Forex Effect$136M
Net Cash Decrease-$26M

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

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