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 44.45% is 38% below its 5-year average of 72.20%, near the low end of its 5-year range (42.22%–235.59%).
As of the fiscal period ended Tuesday, June 30, 2026. 4.85% below its 12-month average of 46.72%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
44.45%
FCF PAYOUT RATIO AVG TTM
46.72%
FCF PAYOUT RATIO AVG 3Y
55.35%
FCF PAYOUT RATIO AVG 5Y
72.20%
FCF PAYOUT RATIO AVG 10Y
87.21%
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-4.85%
CURRENT VS 3Y AVG
-19.70%
CURRENT VS 5Y AVG
-38.43%
CURRENT VS 10Y AVG
-49.03%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
44.5%
Earnings Payout Ratio
107.1%
Dividend Yield
3.98%
FCF Yield
9.08%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $770.21M | $439.01M | 57.0% |
| 2024 | $601.65M | $438.18M | 72.8% |
| 2023 | $595.06M | $435.40M | 73.2% |
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 | 44.45% |
| 2026-03-31 | 47.76% |
| 2025-12-31 | 49.70% |
| 2025-09-30 | 42.22% |
| 2025-06-30 | 49.45% |
| 2025-03-31 | 52.92% |
| 2024-12-31 | 51.92% |
| 2024-09-30 | 69.24% |
| 2024-06-30 | 64.89% |
| 2024-03-31 | 66.21% |
| 2023-12-31 | 70.12% |
| 2023-09-30 | 140.40% |
| 2023-06-30 | 169.51% |
| 2023-03-31 | 206.94% |
| 2022-12-31 | 235.59% |
| 2022-09-30 | 98.67% |
| 2022-06-30 | 99.13% |
| 2022-03-31 | 88.95% |
| 2021-12-31 | 90.17% |
| 2021-09-30 | 83.57% |
| 2021-06-30 | 89.85% |
| 2021-03-31 | 91.11% |
| 2020-12-31 | 102.76% |
| 2020-09-30 | 104.17% |
| 2020-06-30 | 117.71% |
| 2020-03-31 | 160.60% |
| 2019-12-31 | 139.77% |
| 2019-09-30 | 189.96% |
| 2019-06-30 | 148.61% |
| 2019-03-31 | 93.07% |
| 2018-12-31 | 103.51% |
| 2018-09-30 | 97.15% |
| 2018-06-30 | 109.98% |
| 2018-03-31 | 105.15% |
| 2017-12-31 | 112.90% |
| 2017-09-30 | 5.35% |
| 2016-09-30 | 4.12% |
| 2022 |
| $183.95M |
| $433.38M |
| 235.6% |
| 2021 | $476.93M | $471.72M | 98.9% |
| 2020 | $595.45M | $590.19M | 99.1% |
| 2019 | $355.00M | $496.20M | 139.8% |
| 2018 | $83.53M | $86.47M | 103.5% |
| 2017 | $28.08M | $31.70M | 112.9% |
| 2016 | ($37.71M) | $182.45M | N/A (Loss) |
| 2015 | ($452.34M) | $0.22M | N/A (Loss) |
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.
