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 27.65% is 28% below its 5-year average of 38.64%, near the low end of its 5-year range (25.67%–54.63%).
As of the fiscal period ended Tuesday, June 30, 2026. 22.84% below its 12-month average of 35.84%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
27.65%
FCF PAYOUT RATIO AVG TTM
35.84%
FCF PAYOUT RATIO AVG 3Y
41.57%
FCF PAYOUT RATIO AVG 5Y
38.64%
FCF PAYOUT RATIO AVG 10Y
38.76%
FCF PAYOUT RATIO AVG 15Y
38.33%
FCF PAYOUT RATIO AVG 20Y
40.63%
CURRENT VS TTM AVG
-22.84%
CURRENT VS 3Y AVG
-33.48%
CURRENT VS 5Y AVG
-28.43%
CURRENT VS 10Y AVG
-28.66%
CURRENT VS 15Y AVG
-27.85%
CURRENT VS 20Y AVG
-31.94%
FCF Payout Ratio TTM
27.7%
Earnings Payout Ratio
43.4%
Dividend Yield
2.20%
FCF Yield
7.97%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $712.40M | $288.40M | 40.5% |
| 2024 | $730.00M | $277.50M | 38.0% |
| 2023 | $540.90M | $256.70M | 47.5% |
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 | 27.65% |
| 2026-03-31 | 33.37% |
| 2025-12-31 | 40.48% |
| 2025-09-27 | 41.85% |
| 2025-06-28 | 44.73% |
| 2025-03-29 | 46.88% |
| 2024-12-28 | 38.70% |
| 2024-09-28 | 41.86% |
| 2024-06-29 | 38.96% |
| 2024-03-30 | 38.82% |
| 2023-12-30 | 47.46% |
| 2023-09-30 | 44.21% |
| 2023-07-01 | 54.63% |
| 2023-04-01 | 46.14% |
| 2022-12-31 | 35.84% |
| 2022-10-01 | 40.84% |
| 2022-07-02 | 34.54% |
| 2022-04-02 | 33.93% |
| 2022-01-01 | 28.48% |
| 2021-10-02 | 26.37% |
| 2021-07-03 | 25.67% |
| 2021-04-03 | 26.68% |
| 2021-01-02 | 36.94% |
| 2020-09-26 | 37.31% |
| 2020-06-27 | 42.84% |
| 2020-03-28 | 41.66% |
| 2019-12-28 | 38.77% |
| 2019-09-28 | 39.14% |
| 2019-06-29 | 78.89% |
| 2019-03-30 | 82.89% |
| 2018-12-29 | 86.93% |
| 2018-09-29 | 85.24% |
| 2018-06-30 | 37.14% |
| 2018-03-31 | 37.88% |
| 2017-12-30 | 36.67% |
| 2017-09-30 | 38.78% |
| 2017-07-01 | 45.60% |
| 2017-04-01 | 37.38% |
| 2016-12-31 | 37.63% |
| 2016-10-01 | 37.28% |
| 2016-07-02 | 38.02% |
| 2016-04-02 | 43.73% |
| 2016-01-02 | 41.31% |
| 2015-10-03 | 41.88% |
| 2015-07-04 | 34.02% |
| 2015-04-04 | 38.38% |
| 2015-01-03 | 62.80% |
| 2014-09-27 | 51.82% |
| 2014-06-28 | 124.15% |
| 2014-03-29 | 145.05% |
| 2013-12-28 | 80.75% |
| 2013-09-28 | 50.45% |
| 2013-06-29 | 31.34% |
| 2013-03-30 | 37.78% |
| 2012-12-29 | 30.73% |
| 2012-09-29 | 28.34% |
| 2012-06-30 | 25.02% |
| 2012-03-31 | 25.96% |
| 2011-12-31 | 36.51% |
| 2011-10-01 | 54.80% |
| 2011-07-02 | 90.04% |
| 2011-04-02 | 33.70% |
| 2011-01-01 | 23.46% |
| 2010-10-02 | 20.59% |
| 2010-07-03 | 18.55% |
| 2010-04-03 | 26.60% |
| 2010-01-02 | 28.94% |
| 2009-10-03 | 43.00% |
| 2009-07-04 | 50.73% |
| 2009-04-04 | 51.58% |
| 2008-12-27 | 50.27% |
| 2008-09-27 | 49.99% |
| 2008-06-28 | 53.70% |
| 2008-03-29 | 56.65% |
| 2007-12-29 | 70.24% |
| 2007-09-29 | 77.93% |
| 2007-06-30 | 59.99% |
| 2007-03-31 | 60.08% |
| 2006-12-30 | 54.45% |
| 2006-09-30 | 55.80% |
| 2006-07-01 | 61.15% |
| 2006-04-01 | 62.79% |
| 2005-12-31 | 66.60% |
| 2005-10-01 | 57.44% |
| 2005-07-02 | 67.75% |
| 2005-04-02 | 62.77% |
| 2005-01-01 | 48.70% |
| 2004-09-25 | 70.35% |
| 2004-06-26 | 86.79% |
| 2004-03-27 | 98.53% |
| 2003-12-27 | 120.00% |
| 2003-09-27 | 66.35% |
| 2003-06-28 | 53.43% |
| 2022 |
| $774.70M |
| $220.60M |
| 28.5% |
| 2022 | $662.50M | $238.90M | 36.1% |
| 2021 | $532.70M | $196.80M | 36.9% |
| 2019 | $489.30M | $189.70M | 38.8% |
| 2018 | $201.30M | $175.00M | 86.9% |
| 2017 | $424.00M | $155.50M | 36.7% |
| 2016 | $322.20M | $133.10M | 41.3% |
| 2016 | $378.70M | $142.50M | 37.6% |
| 2015 | $199.20M | $125.10M | 62.8% |
| 2013 | $138.70M | $112.00M | 80.7% |
| 2012 | $359.30M | $110.40M | 30.7% |
| 2011 | $378.10M | $88.70M | 23.5% |
| 2011 | $291.70M | $106.50M | 36.5% |
| 2010 | $466.20M | $134.90M | 28.9% |
| 2008 | $348.10M | $175.00M | 50.3% |
| 2007 | $244.60M | $171.80M | 70.2% |
| 2006 | $315.50M | $171.80M | 54.5% |
| 2005 | $338.00M | $164.60M | 48.7% |
| 2005 | $253.30M | $168.70M | 66.6% |
| 2003 | $133.50M | $160.20M | 120.0% |
| 2002 | $371.00M | $148.50M | 40.0% |
| 2001 | $240.10M | $135.40M | 56.4% |
| 2000 | $81.70M | $112.00M | 137.1% |
| 2000 | $211.60M | $123.70M | 58.5% |
| 1999 | $232.20M | $101.80M | 43.8% |
| 1997 | $191.10M | $86.80M | 45.4% |
| 1996 | $116.40M | $68.10M | 58.5% |
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.
