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 41.14% is 12% below its 5-year average of 46.67%, near the low end of its 5-year range (22.03%–134.79%).
As of the fiscal period ended Tuesday, June 30, 2026. 36.71% below its 12-month average of 65.00%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
41.14%
FCF PAYOUT RATIO AVG TTM
65.00%
FCF PAYOUT RATIO AVG 3Y
40.05%
FCF PAYOUT RATIO AVG 5Y
36.88%
FCF PAYOUT RATIO AVG 10Y
N/A
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-36.71%
CURRENT VS 3Y AVG
+2.72%
CURRENT VS 5Y AVG
+11.53%
CURRENT VS 10Y AVG
N/A
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
41.1%
Earnings Payout Ratio
40.5%
Dividend Yield
1.10%
FCF Yield
3.54%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $1.70B | $772.00M | 45.5% |
| 2024 | $44.00M | $670.00M | n/m |
| 2023 | $2.17B | $620.00M | 28.6% |
| 2022 | $1.43B | $509.00M | 35.7% |
| 2021 | $1.89B | $417.00M | 22.0% |
| 2020 | $1.38B | $138.00M |
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.
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 | 41.14% |
| 2026-03-31 | 46.71% |
| 2025-12-31 | 36.87% |
| 2025-09-30 | 65.57% |
| 2025-06-30 | 134.69% |
| 2025-03-31 | 134.79% |
| 2024-09-30 | 69.83% |
| 2024-06-30 | 28.03% |
| 2024-03-31 | 30.56% |
| 2023-12-31 | 28.74% |
| 2023-09-30 | 25.53% |
| 2023-06-30 | 27.47% |
| 2023-03-31 | 31.45% |
| 2022-12-31 | 36.62% |
| 2022-09-30 | 41.29% |
| 2022-06-30 | 47.06% |
| 2022-03-31 | 29.39% |
| 2021-12-31 | 22.03% |
| 2021-09-30 | 32.96% |
| 2021-06-30 | 22.66% |
| 2021-03-31 | 16.01% |
| 2020-12-31 | 10.00% |
| 2020-09-30 | 3.11% |
| 10.0% |
| 2019 | $1.82B | $0 | 0.0% |
| 2018 | $1.79B | $0 | 0.0% |
| 2017 | $1.77B | $0 | 0.0% |
