Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the FCF payout ratio high or low?
The FCF payout ratio of 26.92% is 12% below its 5-year average of 30.48%, near the low end of its 5-year range (20.91%–48.87%).
As of the fiscal period ended Tuesday, June 30, 2026. 4.08% above its 12-month average of 25.87%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
26.92%
FCF PAYOUT RATIO AVG TTM
25.87%
FCF PAYOUT RATIO AVG 3Y
28.43%
FCF PAYOUT RATIO AVG 5Y
29.56%
FCF PAYOUT RATIO AVG 10Y
24.99%
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+4.08%
CURRENT VS 3Y AVG
-5.29%
CURRENT VS 5Y AVG
-8.91%
CURRENT VS 10Y AVG
+7.72%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
26.9%
Earnings Payout Ratio
28.3%
Dividend Yield
1.25%
FCF Yield
4.69%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $685.70M | $175.30M | 25.6% |
| 2024 | $582.90M | $167.00M | 28.6% |
| 2023 | $516.40M | $158.70M | 30.7% |
| 2022 | $395.50M | $143.90M | 36.4% |
| 2021 | $443.20M | $129.00M | 29.1% |
| 2020 | $443.20M | $117.30M | 26.5% |
| 2019 | $422.60M | $100.60M | 23.8% |
| 2018 | $408.70M | $79.40M | 19.4% |
| 2017 | $297.90M | $60.90M | 20.4% |
| 2016 | $335.00M | $46.00M | 13.7% |
| 2015 | $221.80M | $38.30M | 17.3% |
| 2014 | $204.40M | $30.00M | 14.7% |
| 2013 | $203.70M | $0 | 0.0% |
| 2012 | $249.60M | $0 | 0.0% |
| 2011 | $240.00M | $0 | 0.0% |
Formula: FCF Payout Ratio TTM = trailing 4Q dividends paid / trailing 4Q free cash flow × 100
FCF payout and earnings payout:
Reading the series: Use the chart and table to compare dividend payments with cash generation over time.
FCF Payout Ratio measures trailing dividends paid as a percentage of trailing free cash flow. Unlike earnings-based payout, it compares dividends with cash generated after capital expenditures.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | FCF PAYOUT RATIO |
|---|---|
| 2026-06-30 | 26.92% |
| 2026-03-31 | 26.22% |
| 2025-12-31 | 25.57% |
| 2025-09-30 | 25.46% |
| 2025-06-30 | 25.17% |
| 2025-03-31 | 26.21% |
| 2024-12-31 | 28.63% |
| 2024-09-30 | 27.97% |
| 2024-06-30 | 32.19% |
| 2024-03-31 | 32.53% |
| 2023-12-31 | 30.57% |
| 2023-09-30 | 32.23% |
| 2023-06-30 | 29.91% |
| 2023-03-31 | 33.71% |
| 2022-12-31 | 35.78% |
| 2022-09-30 | 39.75% |
| 2022-06-30 | 48.87% |
| 2022-03-31 | 37.85% |
| 2021-12-31 | 29.11% |
| 2021-09-30 | 24.46% |
| 2021-06-30 | 20.91% |
| 2021-03-31 | 22.81% |
| 2020-12-31 | 26.47% |
| 2020-09-30 | 25.27% |
| 2020-06-30 | 24.26% |
| 2020-03-31 | 22.38% |
| 2019-12-31 | 23.81% |
| 2019-09-30 | 23.24% |
| 2019-06-30 | 23.21% |
| 2019-03-31 | 21.09% |
| 2018-12-31 | 19.43% |
| 2018-09-30 | 19.20% |
| 2018-06-30 | 19.88% |
| 2018-03-31 | 19.95% |
| 2017-12-31 | 20.44% |
| 2017-09-30 | 17.88% |
| 2017-06-30 | 18.27% |
| 2017-03-31 | 16.91% |
| 2016-12-31 | 13.73% |
| 2016-09-30 | 16.00% |
| 2016-06-30 | 14.42% |
| 2016-03-31 | 18.39% |
| 2015-12-31 | 17.27% |
| 2015-09-30 | 21.19% |
| 2015-06-30 | 18.87% |
| 2015-03-31 | 15.42% |
| 2014-12-31 | 14.68% |
| 2014-09-30 | 11.88% |
| 2014-06-30 | 7.80% |
| 2014-03-31 | 3.63% |
