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 15.71% is 28% below its 5-year average of 21.70%, around the middle of its 5-year range (5.36%–27.84%).
As of the fiscal period ended Saturday, August 1, 2026. 15.42% below its 12-month average of 18.58%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted. Q2 FY2026 (2026-08-01): 15.71%.
FCF PAYOUT RATIO
15.71%
FCF PAYOUT RATIO AVG TTM
18.58%
FCF PAYOUT RATIO AVG 3Y
22.67%
FCF PAYOUT RATIO AVG 5Y
21.70%
FCF PAYOUT RATIO AVG 10Y
44.53%
FCF PAYOUT RATIO AVG 15Y
73.82%
FCF PAYOUT RATIO AVG 20Y
74.24%
CURRENT VS TTM AVG
-15.42%
CURRENT VS 3Y AVG
-30.69%
CURRENT VS 5Y AVG
-27.58%
CURRENT VS 10Y AVG
-64.72%
CURRENT VS 15Y AVG
-78.71%
CURRENT VS 20Y AVG
-78.83%
FCF Payout Ratio TTM
15.7%
Earnings Payout Ratio
21.3%
Dividend Yield
4.95%
FCF Yield
31.85%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $865.00M | $167.00M | 19.3% |
| 2025 | $660.00M | $177.00M | 26.8% |
| 2024 | $656.00M | $182.00M | 27.7% |
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 |
|---|---|
| 2026-08-01 | 15.71% |
| 2026-05-02 | 18.04% |
| 2026-01-31 | 19.31% |
| 2025-11-01 | 17.86% |
| 2025-08-02 | 21.97% |
| 2025-05-03 | 22.41% |
| 2025-02-01 | 26.82% |
| 2024-11-02 | 27.84% |
| 2024-08-03 | 26.24% |
| 2024-05-04 | 24.63% |
| 2024-01-31 | 27.74% |
| 2023-10-28 | 23.49% |
| 2023-07-29 | 23.14% |
| 2023-04-29 | 23.32% |
| 2023-01-31 | 22.79% |
| 2022-10-29 | 21.54% |
| 2022-07-30 | 23.03% |
| 2022-04-30 | 16.54% |
| 2022-01-31 | 9.82% |
| 2021-10-30 | 5.36% |
| 2021-07-31 | 2.05% |
| 2021-01-31 | 4.58% |
| 2020-10-31 | 9.40% |
| 2020-08-01 | 24.36% |
| 2020-05-02 | 57.54% |
| 2020-01-31 | 42.67% |
| 2019-11-02 | 50.98% |
| 2019-08-03 | 62.20% |
| 2019-05-04 | 73.45% |
| 2019-01-31 | 89.04% |
| 2018-11-03 | 109.48% |
| 2018-08-04 | 94.42% |
| 2018-05-05 | 110.36% |
| 2018-01-31 | 98.14% |
| 2017-10-28 | 72.57% |
| 2017-07-29 | 83.52% |
| 2017-04-29 | 66.16% |
| 2017-01-31 | 140.89% |
| 2016-10-29 | 127.41% |
| 2016-07-30 | 115.73% |
| 2016-04-30 | 105.14% |
| 2016-01-31 | 102.54% |
| 2015-10-31 | 119.15% |
| 2015-08-01 | 108.98% |
| 2015-05-02 | 101.08% |
| 2015-01-31 | 64.52% |
| 2014-11-01 | 69.93% |
| 2014-08-02 | 97.51% |
| 2014-05-03 | 111.41% |
| 2014-01-31 | 62.66% |
| 2013-11-02 | 218.73% |
| 2013-08-03 | 172.14% |
| 2013-05-04 | 179.95% |
| 2013-01-31 | 189.91% |
| 2012-10-27 | 173.65% |
| 2012-07-28 | 131.15% |
| 2012-04-28 | 187.18% |
| 2012-01-31 | 136.19% |
| 2011-10-29 | 170.98% |
| 2011-07-30 | 150.15% |
| 2011-04-30 | 115.70% |
| 2011-01-31 | 147.33% |
| 2010-10-30 | 58.58% |
| 2010-07-31 | 57.73% |
| 2010-05-01 | 49.95% |
| 2010-01-31 | 19.86% |
| 2009-10-31 | 22.76% |
| 2009-08-01 | 29.98% |
| 2009-05-02 | 35.37% |
| 2009-01-31 | 42.32% |
| 2008-11-01 | 31.21% |
| 2008-08-02 | 184.31% |
| 2008-05-03 | 525.18% |
| 2007-01-31 | 457.69% |
| 2006-10-28 | 118.67% |
| 2006-07-29 | 69.32% |
| 2006-04-29 | 44.69% |
| 2006-01-31 | 40.27% |
| 2005-10-29 | 164.90% |
| 2005-07-30 | 167.58% |
| 2005-04-30 | 169.57% |
| 2005-01-31 | 144.22% |
| 2004-10-30 | 38.69% |
| 2004-07-31 | 29.89% |
| 2004-05-01 | 32.82% |
| 2004-01-31 | 27.05% |
| 2003-11-01 | 40.50% |
| 2003-08-02 | 40.18% |
| 2023 |
| $816.00M |
| $186.00M |
| 22.8% |
| 2022 | $1.22B | $120.00M | 9.8% |
| 2021 | $1.81B | $83.00M | 4.6% |
| 2020 | $778.00M | $332.00M | 42.7% |
| 2019 | $748.00M | $666.00M | 89.0% |
| 2018 | $699.00M | $686.00M | 98.1% |
| 2017 | $900.00M | $1.27B | 140.9% |
| 2016 | $1.14B | $1.17B | 102.5% |
| 2015 | $1.07B | $691.00M | 64.5% |
| 2014 | $557.00M | $349.00M | 62.7% |
| 2013 | $763.00M | $1.45B | 189.9% |
| 2012 | $840.00M | $1.14B | 136.2% |
| 2011 | $1.01B | $1.49B | 147.3% |
| 2010 | $972.00M | $193.00M | 19.9% |
| 2009 | $475.00M | $201.00M | 42.3% |
| 2008 | $16.00M | $227.00M | n/m |
| 2007 | $52.00M | $238.00M | 457.7% |
| 2006 | $601.00M | $242.00M | 40.3% |
| 2005 | $502.00M | $724.00M | 144.2% |
| 2004 | $769.00M | $208.00M | 27.0% |
| 2003 | $489.00M | $150.00M | 30.7% |
| 2002 | $632.00M | $129.00M | 20.4% |
| 2001 | $322.92M | $127.55M | 39.5% |
| 2000 | $210.92M | $130.45M | 61.8% |
| 1999 | $223.60M | $124.20M | 55.5% |
| 1998 | $185.40M | $130.50M | 70.4% |
| 1997 | $302.80M | $108.30M | 35.8% |
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.
