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 Trimble (TRMB) spend its free cash flow?

For TTM through Q2 2026, Trimble generated $505M of operating cash flow and $253M of free cash flow — a free cash flow margin of 50% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did Trimble (TRMB) return via buybacks and dividends?

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

Trimble (TRMB) Cash Flow Waterfall

Operating CF

$505M

Capex

-$253M

Free Cash Flow

$253M

FCF Margin

+50.0%

Cash flow waterfall for Trimble (TRMB) — TTM through Q2 2026

Free cash flow: $253M

Note: Other Investing is large — driven mainly by purchases or sales of investments.

Cash flow breakdown for Trimble (TRMB) — TTM through Q2 2026

Line item	Amount	Running total
Operating Cash Flow	$505M	$505M
Capital Expenditure	-$253M	$253M
Free Cash Flow	$253M	$253M
Acquisitions	-$20.5M	$232M
Other Investing	$245M	$478M
Share Buybacks	-$559M	-$81.1M
Net Debt Change	$20.2M	-$60.9M
Other Financing	-$4.6M	-$65.5M
Forex Effect	$9.6M	-$55.9M
Net Cash Decrease	-$55.9M	-$55.9M

Operating Cash Flow$505M
Capital Expenditure-$253M
Free Cash Flow$253M
Acquisitions-$20.5M
Other Investing$245M
Share Buybacks-$559M
Net Debt Change$20.2M
Other Financing-$4.6M
Forex Effect$9.6M
Net Cash Decrease-$55.9M

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

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