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 11.52% is 18% below its 5-year average of 14.13%, near the low end of its 5-year range (11.08%–19.33%).
As of the fiscal period ended Thursday, April 30, 2026. 1.89% below its 12-month average of 11.74%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
11.52%
FCF PAYOUT RATIO AVG TTM
11.74%
FCF PAYOUT RATIO AVG 3Y
14.11%
FCF PAYOUT RATIO AVG 5Y
14.13%
FCF PAYOUT RATIO AVG 10Y
19.05%
FCF PAYOUT RATIO AVG 15Y
23.74%
FCF PAYOUT RATIO AVG 20Y
24.95%
CURRENT VS TTM AVG
-1.89%
CURRENT VS 3Y AVG
-18.36%
CURRENT VS 5Y AVG
-18.48%
CURRENT VS 10Y AVG
-39.54%
CURRENT VS 15Y AVG
-51.47%
CURRENT VS 20Y AVG
-53.83%
FCF Payout Ratio TTM
11.5%
Earnings Payout Ratio
11.8%
Dividend Yield
0.26%
FCF Yield
2.23%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $721.62M | $83.14M | 11.5% |
| 2025 | $584.63M | $72.31M | 12.4% |
| 2024 | $370.95M | $62.92M | 17.0% |
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 | 11.52% |
| 2026-01-31 | 12.08% |
| 2025-10-31 | 11.43% |
| 2025-07-31 | 11.31% |
| 2025-04-30 | 12.37% |
| 2025-01-31 | 13.31% |
| 2024-10-31 | 16.53% |
| 2024-07-31 | 16.50% |
| 2024-04-30 | 16.96% |
| 2024-01-31 | 17.52% |
| 2023-10-31 | 14.74% |
| 2023-07-31 | 15.46% |
| 2023-04-30 | 13.72% |
| 2023-01-31 | 11.13% |
| 2022-10-31 | 12.13% |
| 2022-07-31 | 11.25% |
| 2022-04-30 | 11.08% |
| 2022-01-31 | 18.73% |
| 2021-10-31 | 16.45% |
| 2021-07-31 | 19.33% |
| 2021-04-30 | 13.22% |
| 2021-01-31 | 10.98% |
| 2020-10-31 | 12.11% |
| 2020-07-31 | 15.97% |
| 2020-04-30 | 70.33% |
| 2020-01-31 | 42.62% |
| 2019-10-31 | 43.96% |
| 2019-07-31 | 26.43% |
| 2019-04-30 | 30.48% |
| 2019-01-31 | 102.99% |
| 2017-04-30 | 142.03% |
| 2017-01-31 | 109.80% |
| 2016-10-31 | 46.64% |
| 2016-07-31 | 22.45% |
| 2016-04-30 | 42.28% |
| 2016-01-31 | 46.62% |
| 2015-10-31 | 94.87% |
| 2014-04-30 | 490.23% |
| 2013-10-31 | 524.31% |
| 2013-07-31 | 209.79% |
| 2012-04-30 | 42.31% |
| 2012-01-31 | 37.44% |
| 2011-10-31 | 49.49% |
| 2011-07-31 | 21.54% |
| 2011-04-30 | 43.67% |
| 2011-01-31 | 39.89% |
| 2010-10-31 | 18.09% |
| 2010-07-31 | 17.14% |
| 2010-04-30 | 20.40% |
| 2010-01-31 | 18.74% |
| 2009-10-31 | 20.16% |
| 2009-07-31 | 38.74% |
| 2009-04-30 | 53.51% |
| 2009-01-31 | 41.10% |
| 2008-10-31 | 39.42% |
| 2008-07-31 | 17.37% |
| 2008-04-30 | 15.31% |
| 2008-01-31 | 13.69% |
| 2007-10-31 | 11.99% |
| 2007-07-31 | 15.36% |
| 2007-04-30 | 41.35% |
| 2007-01-31 | 21.69% |
| 2006-10-31 | 57.57% |
| 2006-07-31 | 125.28% |
| 2006-04-30 | 18.71% |
| 2006-01-31 | 44.47% |
| 2005-10-31 | 45.59% |
| 2005-07-31 | 20.56% |
| 2005-04-30 | 26.60% |
| 2005-01-31 | 58.09% |
| 2004-10-31 | 24.27% |
| 2004-07-31 | 20.99% |
| 2004-04-30 | 25.60% |
| 2004-01-31 | 13.53% |
| 2003-10-31 | 13.64% |
| 2003-07-31 | 12.56% |
| 2003-04-30 | 12.36% |
| 2023 |
| $405.38M |
| $55.62M |
| 13.7% |
| 2022 | $462.27M | $51.21M | 11.1% |
| 2021 | $362.84M | $47.97M | 13.2% |
| 2020 | $65.34M | $45.95M | 70.3% |
| 2019 | $135.91M | $41.43M | 30.5% |
| 2018 | ($157.62M) | $38.78M | N/A (Loss) |
| 2017 | $25.88M | $36.76M | 142.0% |
| 2016 | $79.55M | $33.53M | 42.1% |
| 2015 | ($12.09M) | $30.18M | N/A (Loss) |
| 2014 | $5.53M | $27.09M | 490.2% |
| 2013 | ($18.97M) | $24.68M | N/A (Loss) |
| 2012 | $54.01M | $22.85M | 42.3% |
| 2011 | $46.87M | $20.47M | 43.7% |
| 2010 | $84.83M | $17.31M | 20.4% |
| 2009 | $34.27M | $15.25M | 44.5% |
| 2008 | $86.59M | $13.18M | 15.2% |
| 2007 | $24.42M | $10.10M | 41.4% |
| 2006 | $48.41M | $9.06M | 18.7% |
| 2005 | $36.74M | $9.77M | 26.6% |
| 2004 | $25.30M | $6.48M | 25.6% |
| 2003 | $39.82M | $4.96M | 12.5% |
| 2002 | ($15.12M) | $4.21M | N/A (Loss) |
| 2001 | ($3.56M) | $3.71M | N/A (Loss) |
| 2000 | $6.15M | $3.15M | 51.2% |
| 1999 | ($23.30M) | $3.20M | N/A (Loss) |
| 1998 | ($6.70M) | $3.00M | N/A (Loss) |
| 1997 | $1.00M | $2.60M | 260.0% |
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.
