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 25.00% is 51% below its 5-year average of 50.97%, near the low end of its 5-year range (25.00%–133.87%).
As of the fiscal period ended Tuesday, June 30, 2026. 13.39% below its 12-month average of 28.86%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
25.00%
FCF PAYOUT RATIO AVG TTM
28.86%
FCF PAYOUT RATIO AVG 3Y
55.70%
FCF PAYOUT RATIO AVG 5Y
39.70%
FCF PAYOUT RATIO AVG 10Y
33.07%
FCF PAYOUT RATIO AVG 15Y
42.76%
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-13.39%
CURRENT VS 3Y AVG
-55.12%
CURRENT VS 5Y AVG
-37.03%
CURRENT VS 10Y AVG
-24.40%
CURRENT VS 15Y AVG
-41.54%
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
25.0%
Earnings Payout Ratio
33.0%
Dividend Yield
3.00%
FCF Yield
12.15%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $951.00M | $276.00M | 29.0% |
| 2025 | $911.00M | $268.00M | 29.4% |
| 2024 | $192.14M | $254.00M | 132.2% |
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 | 25.00% |
| 2026-03-31 | 29.02% |
| 2025-12-31 | 29.41% |
| 2025-09-30 | 33.34% |
| 2025-06-30 | 27.55% |
| 2025-03-31 | 29.42% |
| 2024-12-31 | 31.40% |
| 2024-09-30 | 28.35% |
| 2024-06-30 | 87.25% |
| 2024-03-31 | 131.89% |
| 2023-12-31 | 90.01% |
| 2023-09-30 | 133.87% |
| 2023-06-30 | 47.59% |
| 2023-03-31 | 44.76% |
| 2022-12-31 | 42.60% |
| 2022-09-30 | 52.63% |
| 2022-06-30 | 35.07% |
| 2022-03-31 | 31.84% |
| 2021-12-31 | 64.18% |
| 2021-09-30 | 36.75% |
| 2021-06-30 | 38.43% |
| 2021-03-31 | 28.67% |
| 2020-12-31 | 19.44% |
| 2020-09-30 | 22.64% |
| 2020-06-30 | 30.39% |
| 2020-03-31 | 34.63% |
| 2019-12-31 | 29.72% |
| 2019-09-30 | 33.03% |
| 2019-06-30 | 25.04% |
| 2019-03-31 | 28.21% |
| 2018-12-31 | 32.97% |
| 2018-09-30 | 27.88% |
| 2018-06-30 | 42.05% |
| 2018-03-31 | 35.57% |
| 2017-12-31 | 39.03% |
| 2017-09-30 | 37.01% |
| 2017-06-30 | 30.44% |
| 2017-03-31 | 28.30% |
| 2016-12-31 | 29.89% |
| 2016-09-30 | 26.59% |
| 2016-06-30 | 45.75% |
| 2016-03-31 | 43.82% |
| 2015-12-31 | 38.72% |
| 2015-09-30 | 52.23% |
| 2015-06-30 | 114.31% |
| 2015-03-31 | 78.53% |
| 2014-12-31 | 146.40% |
| 2014-09-30 | 134.16% |
| 2014-06-30 | 105.60% |
| 2014-03-31 | 110.90% |
| 2013-12-31 | 59.80% |
| 2013-09-30 | 27.97% |
| 2013-06-30 | 213.84% |
| 2013-03-31 | 260.10% |
| 2012-12-31 | 236.22% |
| 2012-09-30 | 211.36% |
| 2012-06-30 | 70.22% |
| 2012-03-31 | 4.21% |
| 2010-09-30 | 192.75% |
| 2010-06-30 | 216.17% |
| 2010-03-31 | 276.84% |
| 2023 |
| $526.69M |
| $236.00M |
| 44.8% |
| 2022 | $656.56M | $209.06M | 31.8% |
| 2021 | $631.47M | $181.07M | 28.7% |
| 2020 | $423.35M | $146.60M | 34.6% |
| 2019 | $404.93M | $114.23M | 28.2% |
| 2018 | $290.71M | $103.41M | 35.6% |
| 2017 | $328.36M | $92.92M | 28.3% |
| 2016 | $182.60M | $80.02M | 43.8% |
| 2015 | $273.92M | $215.09M | 78.5% |
| 2014 | $311.81M | $345.80M | 110.9% |
| 2013 | $431.54M | $1.12B | 260.1% |
| 2012 | $283.12M | $11.91M | 4.2% |
| 2011 | $207.56M | $0 | 0.0% |
| 2010 | $221.21M | $612.40M | 276.8% |
| 2009 | ($52.36M) | $0 | 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.
