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 11.85% is 39% above its 5-year average of 8.55%, near the low end of its 5-year range (2.63%–36.88%).
As of the fiscal period ended Friday, July 3, 2026. 10.13% below its 12-month average of 13.18%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted. Q2 FY2026 (2026-07-03): 11.85%.
FCF PAYOUT RATIO
11.85%
FCF PAYOUT RATIO AVG TTM
13.18%
FCF PAYOUT RATIO AVG 3Y
19.59%
FCF PAYOUT RATIO AVG 5Y
8.55%
FCF PAYOUT RATIO AVG 10Y
7.80%
FCF PAYOUT RATIO AVG 15Y
15.42%
FCF PAYOUT RATIO AVG 20Y
17.97%
CURRENT VS TTM AVG
-10.13%
CURRENT VS 3Y AVG
-39.52%
CURRENT VS 5Y AVG
+38.55%
CURRENT VS 10Y AVG
+51.83%
CURRENT VS 15Y AVG
-23.20%
CURRENT VS 20Y AVG
-34.09%
FCF Payout Ratio TTM
11.8%
Earnings Payout Ratio
13.3%
Dividend Yield
0.51%
FCF Yield
4.22%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $624.72M | $86.67M | 13.9% |
| 2024 | $505.34M | $185.63M | 36.7% |
| 2023 | $528.39M | $46.87M | 8.9% |
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 |
|---|---|
| 2026-07-03 | 11.85% |
| 2026-04-03 | 12.31% |
| 2025-12-31 | 13.97% |
| 2025-09-26 | 14.59% |
| 2025-06-27 | 14.66% |
| 2025-03-28 | 10.80% |
| 2024-12-31 | 36.73% |
| 2024-09-27 | 36.88% |
| 2024-06-28 | 32.72% |
| 2024-03-29 | 32.85% |
| 2023-12-31 | 8.87% |
| 2023-09-29 | 8.78% |
| 2023-06-30 | 10.11% |
| 2023-03-31 | 11.04% |
| 2022-12-31 | 4.16% |
| 2022-09-30 | 3.76% |
| 2022-07-01 | 3.52% |
| 2022-04-01 | 3.02% |
| 2021-12-31 | 2.63% |
| 2021-10-01 | 2.72% |
| 2021-07-02 | 2.88% |
| 2021-04-02 | 2.79% |
| 2020-12-31 | 3.21% |
| 2020-09-27 | 3.39% |
| 2020-06-28 | 3.84% |
| 2020-03-29 | 6.61% |
| 2019-12-31 | 8.19% |
| 2019-09-29 | 4.24% |
| 2019-06-30 | 11.01% |
| 2019-03-31 | 7.48% |
| 2018-12-31 | 30.52% |
| 2018-07-01 | 244.81% |
| 2017-12-31 | 8.07% |
| 2017-10-01 | 16.14% |
| 2017-07-02 | 10.17% |
| 2017-04-02 | 9.24% |
| 2015-06-28 | 107.31% |
| 2014-12-31 | 122.91% |
| 2014-06-29 | 52.13% |
| 2014-03-30 | 21.03% |
| 2013-12-31 | 26.46% |
| 2013-09-29 | 29.94% |
| 2013-06-30 | 30.31% |
| 2013-03-31 | 32.38% |
| 2012-12-31 | 30.85% |
| 2012-09-30 | 17.36% |
| 2012-07-01 | 14.99% |
| 2012-04-01 | 25.67% |
| 2011-12-31 | 16.29% |
| 2011-10-02 | 18.23% |
| 2011-07-03 | 20.91% |
| 2011-04-03 | 21.12% |
| 2010-12-31 | 17.20% |
| 2010-10-03 | 21.48% |
| 2010-07-04 | 43.55% |
| 2010-04-04 | 23.84% |
| 2009-12-31 | 25.33% |
| 2009-09-27 | 16.46% |
| 2009-06-28 | 12.01% |
| 2009-03-29 | 12.14% |
| 2008-12-31 | 18.75% |
| 2008-09-28 | 23.57% |
| 2008-06-29 | 44.39% |
| 2008-03-30 | 41.27% |
| 2007-12-31 | 19.30% |
| 2007-09-30 | 23.03% |
| 2007-07-01 | 19.11% |
| 2007-04-01 | 19.44% |
| 2006-12-31 | 22.92% |
| 2006-10-01 | 38.90% |
| 2006-07-02 | 38.17% |
| 2006-04-02 | 32.54% |
| 2005-12-31 | 24.88% |
| 2005-10-02 | 42.90% |
| 2005-07-03 | 25.54% |
| 2005-04-03 | 18.84% |
| 2004-12-31 | 13.94% |
| 2004-09-26 | 7.87% |
| 2004-06-27 | 10.09% |
| 2004-03-28 | 11.77% |
| 2003-12-31 | 14.23% |
| 2003-09-28 | 35.50% |
| 2003-06-29 | 14.03% |
| 2022 |
| $225.25M |
| $9.37M |
| 4.2% |
| 2021 | $366.06M | $9.37M | 2.6% |
| 2020 | $292.43M | $9.37M | 3.2% |
| 2019 | $119.00M | $9.37M | 7.9% |
| 2018 | $30.64M | $9.35M | 30.5% |
| 2017 | $131.22M | $9.33M | 7.1% |
| 2016 | ($10.59M) | $9.31M | N/A (Loss) |
| 2015 | ($55.60M) | $9.29M | N/A (Loss) |
| 2014 | $7.54M | $9.27M | 122.9% |
| 2013 | $34.94M | $9.24M | 26.5% |
| 2012 | $29.90M | $9.22M | 30.8% |
| 2011 | $56.49M | $9.20M | 16.3% |
| 2010 | $53.38M | $9.18M | 17.2% |
| 2009 | $36.16M | $9.16M | 25.3% |
| 2008 | $48.76M | $9.14M | 18.8% |
| 2007 | $47.27M | $9.12M | 19.3% |
| 2006 | $39.72M | $9.10M | 22.9% |
| 2005 | $62.10M | $9.08M | 14.6% |
| 2004 | $65.00M | $9.06M | 13.9% |
| 2003 | $63.54M | $9.04M | 14.2% |
| 2002 | $74.64M | $8.86M | 11.9% |
| 2001 | $25.26M | $8.75M | 34.7% |
| 2000 | $35.12M | $8.73M | 24.9% |
| 1999 | ($167.97M) | $8.55M | N/A (Loss) |
| 1998 | ($12.10M) | $8.40M | N/A (Loss) |
| 1997 | ($35.30M) | $8.40M | N/A (Loss) |
| 1996 | $13.20M | $9.30M | 70.5% |
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.
