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 WEC Energy Group (WEC) spend its free cash flow?

For TTM through Q1 2026, WEC Energy Group generated $3.41B of operating cash flow and -$1.11B of free cash flow — a free cash flow margin of -32.5% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did WEC Energy Group (WEC) return via buybacks and dividends?

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

WEC Energy Group (WEC) Cash Flow Waterfall

Operating CF

$3.41B

Capex

-$4.51B

Free Cash Flow

-$1.11B

FCF Margin

-32.5%

Cash flow waterfall for WEC Energy Group (WEC) — TTM through Q1 2026

Free cash flow: -$1.11B

Cash flow breakdown for WEC Energy Group (WEC) — TTM through Q1 2026

Line item	Amount	Running total
Operating Cash Flow	$3.41B	$3.41B
Capital Expenditure	-$4.51B	-$1.11B
Free Cash Flow	-$1.11B	-$1.11B
Other Investing	-$144M	-$1.25B
Dividends Paid	-$1.17B	-$2.43B
Net Debt Change	$1.71B	-$712M
Other Financing & FX	$667M	-$45.2M
Net Cash Decrease	-$45.2M	-$45.2M

Operating Cash Flow$3.41B
Capital Expenditure-$4.51B
Free Cash Flow-$1.11B
Other Investing-$144M
Dividends Paid-$1.17B
Net Debt Change$1.71B
Other Financing & FX$667M
Net Cash Decrease-$45.2M

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

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