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 10.26% is 19% above its 5-year average of 8.62%, near the high end of its 5-year range (7.36%–10.78%).
As of the fiscal period ended Tuesday, June 30, 2026. 13.76% above its 12-month average of 9.02%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
10.26%
FCF PAYOUT RATIO AVG TTM
9.02%
FCF PAYOUT RATIO AVG 3Y
8.67%
FCF PAYOUT RATIO AVG 5Y
8.62%
FCF PAYOUT RATIO AVG 10Y
8.62%
FCF PAYOUT RATIO AVG 15Y
10.38%
FCF PAYOUT RATIO AVG 20Y
9.71%
CURRENT VS TTM AVG
+13.76%
CURRENT VS 3Y AVG
+18.29%
CURRENT VS 5Y AVG
+18.96%
CURRENT VS 10Y AVG
+19.05%
CURRENT VS 15Y AVG
-1.15%
CURRENT VS 20Y AVG
+5.68%
FCF Payout Ratio TTM
10.3%
Earnings Payout Ratio
13.6%
Dividend Yield
0.48%
FCF Yield
4.63%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $325.48M | $31.70M | 9.7% |
| 2024 | $367.97M | $27.09M | 7.4% |
| 2023 | $273.44M | $23.50M | 8.6% |
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 | 10.26% |
| 2026-03-31 | 8.63% |
| 2025-12-31 | 9.74% |
| 2025-09-30 | 8.52% |
| 2025-06-30 | 7.95% |
| 2025-03-31 | 9.00% |
| 2024-12-31 | 7.36% |
| 2024-09-30 | 8.21% |
| 2024-06-30 | 9.57% |
| 2024-03-31 | 7.89% |
| 2023-12-31 | 8.59% |
| 2023-09-30 | 8.92% |
| 2023-06-30 | 8.11% |
| 2023-03-31 | 10.78% |
| 2022-12-31 | 8.72% |
| 2022-09-30 | 9.98% |
| 2022-06-30 | 7.71% |
| 2022-03-31 | 8.78% |
| 2021-12-31 | 8.81% |
| 2021-09-30 | 8.07% |
| 2021-06-30 | 7.66% |
| 2021-03-31 | 4.75% |
| 2020-12-31 | 4.90% |
| 2020-09-30 | 5.06% |
| 2020-06-30 | 4.95% |
| 2020-03-31 | 7.80% |
| 2019-12-31 | 7.97% |
| 2019-09-30 | 8.18% |
| 2019-06-30 | 8.83% |
| 2019-03-31 | 7.84% |
| 2018-12-31 | 7.97% |
| 2018-09-30 | 12.11% |
| 2018-06-30 | 14.61% |
| 2018-03-31 | 19.40% |
| 2017-12-31 | 17.69% |
| 2017-09-30 | 12.42% |
| 2017-06-30 | 14.69% |
| 2017-03-31 | 10.40% |
| 2016-12-31 | 17.19% |
| 2016-09-30 | 11.37% |
| 2016-06-30 | 12.45% |
| 2016-03-31 | 13.36% |
| 2015-12-31 | 12.25% |
| 2015-09-30 | 11.69% |
| 2015-06-30 | 16.29% |
| 2015-03-31 | 16.24% |
| 2014-12-31 | 21.37% |
| 2014-09-30 | 59.82% |
| 2014-06-30 | 18.91% |
| 2014-03-31 | 14.25% |
| 2013-12-31 | 11.64% |
| 2013-09-30 | 8.51% |
| 2013-06-30 | 10.27% |
| 2013-03-31 | 13.20% |
| 2012-12-31 | 13.50% |
| 2012-09-30 | 11.51% |
| 2012-06-30 | 8.79% |
| 2012-03-31 | 12.54% |
| 2011-12-31 | 8.66% |
| 2011-09-30 | 11.88% |
| 2011-06-30 | 14.02% |
| 2011-03-31 | 12.06% |
| 2010-12-31 | 19.68% |
| 2010-09-30 | 10.17% |
| 2010-06-30 | 9.70% |
| 2010-03-31 | 7.96% |
| 2009-12-31 | 5.85% |
| 2009-09-30 | 8.75% |
| 2009-06-30 | 6.09% |
| 2009-03-31 | 7.56% |
| 2008-12-31 | 6.45% |
| 2008-09-30 | 7.31% |
| 2008-06-30 | 6.46% |
| 2008-03-31 | 7.26% |
| 2007-12-31 | 8.07% |
| 2007-09-30 | 4.93% |
| 2007-06-30 | 7.81% |
| 2007-03-31 | 8.21% |
| 2006-12-31 | 8.25% |
| 2006-09-30 | 11.81% |
| 2006-06-30 | 10.05% |
| 2006-03-31 | 6.68% |
| 2005-12-31 | 11.42% |
| 2005-09-30 | 9.82% |
| 2005-06-30 | 12.68% |
| 2005-03-31 | 7.97% |
| 2004-12-31 | 7.54% |
| 2004-09-30 | 12.96% |
| 2004-06-30 | 13.24% |
| 2003-12-31 | 41.72% |
| 2003-09-30 | 81.22% |
| 2003-06-30 | 36.90% |
| 2022 |
| $252.56M |
| $22.02M |
| 8.7% |
| 2021 | $249.92M | $22.02M | 8.8% |
| 2020 | $430.46M | $21.08M | 4.9% |
| 2019 | $248.23M | $19.79M | 8.0% |
| 2018 | $234.27M | $18.66M | 8.0% |
| 2017 | $98.19M | $17.37M | 17.7% |
| 2016 | $95.62M | $16.44M | 17.2% |
| 2015 | $127.36M | $15.61M | 12.3% |
| 2014 | $66.71M | $14.26M | 21.4% |
| 2013 | $121.52M | $14.15M | 11.6% |
| 2012 | $96.52M | $13.03M | 13.5% |
| 2011 | $144.75M | $12.54M | 8.7% |
| 2010 | $60.37M | $11.88M | 19.7% |
| 2009 | $139.34M | $8.16M | 5.9% |
| 2008 | $85.99M | $5.54M | 6.4% |
| 2007 | $72.94M | $5.89M | 8.1% |
| 2006 | $76.60M | $6.32M | 8.3% |
| 2005 | $54.06M | $6.17M | 11.4% |
| 2004 | $75.86M | $5.72M | 7.5% |
| 2003 | $11.41M | $4.76M | 41.7% |
| 2002 | $17.67M | $4.44M | 25.1% |
| 2001 | $20.23M | $4.38M | 21.7% |
| 2000 | $20.84M | $4.02M | 19.3% |
| 1999 | ($10.40M) | $22.50M | N/A (Loss) |
| 1998 | ($16.00M) | $21.70M | N/A (Loss) |
| 1997 | $13.30M | $21.00M | 157.9% |
| 1996 | $16.80M | $20.40M | 121.4% |
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.
