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 47.82% is 45% below its 5-year average of 87.30%, near the low end of its 5-year range (40.16%–178.73%).
As of the fiscal period ended Thursday, April 30, 2026. 31.03% below its 12-month average of 69.33%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
47.82%
FCF PAYOUT RATIO AVG TTM
69.33%
FCF PAYOUT RATIO AVG 3Y
85.51%
FCF PAYOUT RATIO AVG 5Y
82.73%
FCF PAYOUT RATIO AVG 10Y
77.45%
FCF PAYOUT RATIO AVG 15Y
70.34%
FCF PAYOUT RATIO AVG 20Y
65.18%
CURRENT VS TTM AVG
-31.03%
CURRENT VS 3Y AVG
-44.08%
CURRENT VS 5Y AVG
-42.20%
CURRENT VS 10Y AVG
-38.27%
CURRENT VS 15Y AVG
-32.02%
CURRENT VS 20Y AVG
-26.64%
FCF Payout Ratio TTM
47.8%
Earnings Payout Ratio
60.1%
Dividend Yield
3.53%
FCF Yield
7.46%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $893.00M | $427.00M | 47.8% |
| 2025 | $431.00M | $420.00M | 97.4% |
| 2024 | $419.00M | $404.00M | 96.4% |
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 |
|---|---|
| 2026-04-30 | 47.82% |
| 2026-01-31 | 58.63% |
| 2025-10-31 | 70.16% |
| 2025-07-31 | 72.60% |
| 2025-04-30 | 97.45% |
| 2025-01-31 | 78.09% |
| 2024-10-31 | 90.17% |
| 2024-07-31 | 100.49% |
| 2024-04-30 | 96.42% |
| 2024-01-31 | 105.56% |
| 2023-10-31 | 178.73% |
| 2023-07-31 | 126.06% |
| 2023-04-30 | 82.71% |
| 2023-01-31 | 78.01% |
| 2022-10-31 | 111.57% |
| 2022-07-31 | 108.87% |
| 2022-04-30 | 104.14% |
| 2022-01-31 | 98.10% |
| 2021-10-31 | 42.82% |
| 2021-07-31 | 40.16% |
| 2021-04-30 | 44.77% |
| 2021-01-31 | 46.86% |
| 2020-10-31 | 46.01% |
| 2020-07-31 | 52.14% |
| 2020-04-30 | 53.63% |
| 2020-01-31 | 52.80% |
| 2019-10-31 | 53.02% |
| 2019-07-31 | 49.92% |
| 2019-04-30 | 45.66% |
| 2019-01-31 | 147.57% |
| 2018-10-31 | 137.24% |
| 2018-07-31 | 146.15% |
| 2018-04-30 | 153.37% |
| 2018-01-31 | 46.82% |
| 2017-10-31 | 51.76% |
| 2017-07-31 | 56.88% |
| 2017-04-30 | 52.29% |
| 2017-01-31 | 63.08% |
| 2016-10-31 | 59.87% |
| 2016-07-31 | 64.27% |
| 2016-04-30 | 64.25% |
| 2016-01-31 | 47.07% |
| 2015-10-31 | 45.80% |
| 2015-07-31 | 50.68% |
| 2015-04-30 | 52.89% |
| 2015-01-31 | 50.60% |
| 2014-10-31 | 64.25% |
| 2014-07-31 | 45.22% |
| 2014-04-30 | 44.81% |
| 2014-01-31 | 52.17% |
| 2013-10-31 | 235.56% |
| 2013-07-31 | 243.71% |
| 2013-04-30 | 241.54% |
| 2013-01-31 | 232.48% |
| 2012-10-31 | 44.55% |
| 2012-07-31 | 42.20% |
| 2012-04-30 | 42.61% |
| 2012-01-31 | 45.23% |
| 2011-10-31 | 73.10% |
| 2011-07-31 | 72.54% |
| 2011-04-30 | 67.27% |
| 2011-01-31 | 68.28% |
| 2010-10-31 | 36.77% |
| 2010-07-31 | 35.75% |
| 2010-04-30 | 34.10% |
| 2010-01-31 | 32.01% |
| 2009-10-31 | 31.83% |
| 2009-07-31 | 37.40% |
| 2009-04-30 | 38.67% |
| 2009-01-31 | 39.04% |
| 2008-10-31 | 91.82% |
| 2008-07-31 | 82.24% |
| 2008-04-30 | 77.35% |
| 2008-01-31 | 89.59% |
| 2007-10-31 | 44.54% |
| 2007-07-31 | 46.76% |
| 2007-04-30 | 54.37% |
| 2007-01-31 | 48.60% |
| 2006-10-31 | 41.54% |
| 2006-07-31 | 40.04% |
| 2006-04-30 | 43.99% |
| 2006-01-31 | 49.90% |
| 2005-10-31 | 39.75% |
| 2005-07-31 | 38.23% |
| 2005-04-30 | 31.99% |
| 2005-01-31 | 30.06% |
| 2004-10-31 | 32.47% |
| 2004-07-31 | 33.76% |
| 2004-04-30 | 38.80% |
| 2004-01-31 | 48.14% |
| 2003-10-31 | 43.35% |
| 2003-07-31 | 41.48% |
| 2003-04-30 | 42.59% |
| 2023 |
| $457.00M |
| $378.00M |
| 82.7% |
| 2022 | $798.00M | $831.00M | 104.1% |
| 2021 | $755.00M | $338.00M | 44.8% |
| 2020 | $611.00M | $325.00M | 53.2% |
| 2019 | $681.00M | $310.00M | 45.5% |
| 2018 | $505.00M | $773.00M | 153.1% |
| 2017 | $527.00M | $274.00M | 52.0% |
| 2016 | $416.00M | $266.00M | 63.9% |
| 2015 | $488.00M | $256.00M | 52.5% |
| 2014 | $523.00M | $233.00M | 44.6% |
| 2013 | $442.00M | $1.06B | 240.5% |
| 2012 | $458.00M | $192.00M | 41.9% |
| 2011 | $488.00M | $326.00M | 66.8% |
| 2010 | $511.00M | $174.00M | 34.1% |
| 2009 | $437.00M | $169.00M | 38.7% |
| 2008 | $468.00M | $362.00M | 77.4% |
| 2007 | $263.00M | $143.00M | 54.4% |
| 2006 | $291.00M | $128.00M | 44.0% |
| 2005 | $347.00M | $111.00M | 32.0% |
| 2004 | $250.00M | $97.00M | 38.8% |
| 2003 | $116.00M | $99.00M | 85.3% |
| 2002 | $179.00M | $94.00M | 52.5% |
| 2001 | $135.00M | $87.00M | 64.4% |
| 2000 | $163.00M | $83.00M | 50.9% |
| 1999 | $113.00M | $79.00M | 69.9% |
| 1998 | $176.00M | $76.00M | 43.2% |
| 1997 | $128.00M | $73.00M | 57.0% |
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.
