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 Atlassian (TEAM) spend its free cash flow?

For TTM through Q1 2026, Atlassian generated $1.25B of operating cash flow and $1.2B of free cash flow — a free cash flow margin of 96.4% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did Atlassian (TEAM) return via buybacks and dividends?

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

Atlassian (TEAM) Cash Flow Waterfall

Operating CF

$1.25B

Capex

-$44.6M

Free Cash Flow

$1.2B

FCF Margin

+96.4%

Cash flow waterfall for Atlassian (TEAM) — TTM through Q1 2026

Free cash flow: $1.2B

Cash flow breakdown for Atlassian (TEAM) — TTM through Q1 2026

Line item	Amount	Running total
Operating Cash Flow	$1.25B	$1.25B
Capital Expenditure	-$44.6M	$1.2B
Free Cash Flow	$1.2B	$1.2B
Acquisitions	-$1.25B	-$46M
Other Investing	$360M	$314M
Share Buybacks	-$1.87B	-$1.56B
Other Financing & FX	$32M	-$1.53B
Net Cash Decrease	-$1.53B	-$1.53B

Operating Cash Flow$1.25B
Capital Expenditure-$44.6M
Free Cash Flow$1.2B
Acquisitions-$1.25B
Other Investing$360M
Share Buybacks-$1.87B
Other Financing & FX$32M
Net Cash Decrease-$1.53B

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

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Buybacks10.50% TTM

How this company returns cash to shareholders — buybacks, dividends, and stock splits.

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