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 11.29% is 15% below its 5-year average of 13.28%, near the low end of its 5-year range (5.09%–29.12%).
As of the fiscal period ended Tuesday, March 31, 2026. 21.49% above its 12-month average of 9.29%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
11.29%
FCF PAYOUT RATIO AVG TTM
9.29%
FCF PAYOUT RATIO AVG 3Y
11.30%
FCF PAYOUT RATIO AVG 5Y
11.64%
FCF PAYOUT RATIO AVG 10Y
15.17%
FCF PAYOUT RATIO AVG 15Y
17.87%
FCF PAYOUT RATIO AVG 20Y
21.96%
CURRENT VS TTM AVG
+21.49%
CURRENT VS 3Y AVG
-0.11%
CURRENT VS 5Y AVG
-2.98%
CURRENT VS 10Y AVG
-25.56%
CURRENT VS 15Y AVG
-36.81%
CURRENT VS 20Y AVG
-48.58%
FCF Payout Ratio TTM
11.3%
Earnings Payout Ratio
17.5%
Dividend Yield
0.19%
FCF Yield
1.75%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $744.17M | $76.02M | 10.2% |
| 2024 | $482.02M | $48.39M | 10.0% |
| 2023 | $403.28M | $39.29M | 9.7% |
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 |
|---|---|
| 2026-03-31 | 11.29% |
| 2025-12-31 | 9.72% |
| 2025-09-30 | 6.99% |
| 2025-06-30 | 7.54% |
| 2025-03-31 | 10.93% |
| 2024-12-31 | 11.45% |
| 2024-09-30 | 18.00% |
| 2024-06-30 | 11.96% |
| 2024-03-31 | 14.25% |
| 2023-12-31 | 9.88% |
| 2023-09-30 | 12.32% |
| 2023-06-30 | 27.03% |
| 2023-03-31 | 24.37% |
| 2022-12-31 | 29.12% |
| 2022-09-30 | 21.61% |
| 2022-06-30 | 7.95% |
| 2022-03-31 | 6.80% |
| 2021-12-31 | 8.80% |
| 2021-09-30 | 5.09% |
| 2021-06-30 | 10.51% |
| 2020-06-30 | 11.18% |
| 2020-03-31 | 5.37% |
| 2019-12-31 | 6.56% |
| 2019-09-30 | 12.69% |
| 2019-06-30 | 10.09% |
| 2019-03-31 | 7.15% |
| 2018-12-31 | 11.39% |
| 2018-09-30 | 9.24% |
| 2018-06-30 | 16.68% |
| 2018-03-31 | 20.48% |
| 2017-12-31 | 32.24% |
| 2017-09-30 | 40.25% |
| 2017-06-30 | 26.12% |
| 2017-03-31 | 40.63% |
| 2016-12-31 | 185.03% |
| 2016-09-30 | 52.65% |
| 2015-12-31 | 243.99% |
| 2015-06-30 | 119.66% |
| 2015-03-31 | 122.28% |
| 2013-09-30 | 167.43% |
| 2012-03-31 | 74.87% |
| 2011-12-31 | 175.73% |
| 2011-03-31 | 79.03% |
| 2010-12-31 | 333.23% |
| 2010-09-30 | 67.46% |
| 2010-06-30 | 23.88% |
| 2010-03-31 | 36.61% |
| 2009-12-31 | 30.63% |
| 2009-09-30 | 13.80% |
| 2009-06-30 | 125.26% |
| 2009-03-31 | 143.45% |
| 2008-12-31 | 451.59% |
| 2008-06-30 | 28.14% |
| 2008-03-31 | 22.26% |
| 2007-12-31 | 21.42% |
| 2007-09-30 | 22.44% |
| 2006-09-30 | 44.87% |
| 2006-06-30 | 20.79% |
| 2006-03-31 | 21.40% |
| 2005-12-31 | 99.27% |
| 2005-09-30 | 251.58% |
| 2005-06-30 | 116.01% |
| 2005-03-31 | 39.64% |
| 2004-12-31 | 41.80% |
| 2004-09-30 | 25.14% |
| 2004-06-30 | 53.48% |
| 2004-03-31 | 31.83% |
| 2003-12-31 | 31.31% |
| 2003-09-30 | 90.05% |
| 2003-03-31 | 62.25% |
| 2022 |
| $118.89M |
| $38.28M |
| 32.2% |
| 2021 | $284.22M | $25.17M | 8.9% |
| 2020 | ($53.05M) | $19.49M | N/A (Loss) |
| 2019 | $225.07M | $18.76M | 8.3% |
| 2018 | $448.59M | $52.19M | 11.6% |
| 2017 | $382.97M | $125.77M | 32.8% |
| 2016 | $70.95M | $117.66M | 165.8% |
| 2015 | $66.04M | $114.33M | 173.1% |
| 2014 | $0.06M | $136.04M | n/m |
| 2013 | ($108.89M) | $148.77M | N/A (Loss) |
| 2012 | ($90.40M) | $159.24M | N/A (Loss) |
| 2011 | $82.69M | $142.95M | 172.9% |
| 2010 | $36.87M | $106.28M | 288.2% |
| 2009 | $282.17M | $87.86M | 31.1% |
| 2008 | $64.68M | $65.80M | 101.7% |
| 2007 | $306.50M | $66.96M | 21.8% |
| 2006 | ($35.62M) | $45.15M | N/A (Loss) |
| 2005 | $30.71M | $34.37M | 111.9% |
| 2004 | $66.35M | $28.50M | 43.0% |
| 2003 | $66.55M | $24.88M | 37.4% |
| 2002 | $102.14M | $28.73M | 28.1% |
| 2001 | $36.43M | $28.27M | 77.6% |
| 2000 | $86.29M | $18.70M | 21.7% |
| 1999 | $26.11M | $19.82M | 75.9% |
| 1998 | ($308.10M) | $18.88M | N/A (Loss) |
| 1997 | ($83.93M) | $18.88M | N/A (Loss) |
| 1996 | $5.54M | $19.26M | 347.4% |
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.
