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 19.94% is 15% below its 5-year average of 23.50%, near the low end of its 5-year range (15.01%–37.28%).
As of the fiscal period ended Tuesday, June 30, 2026. 13.60% above its 12-month average of 17.55%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
19.94%
FCF PAYOUT RATIO AVG TTM
17.55%
FCF PAYOUT RATIO AVG 3Y
21.54%
FCF PAYOUT RATIO AVG 5Y
22.64%
FCF PAYOUT RATIO AVG 10Y
26.26%
FCF PAYOUT RATIO AVG 15Y
28.83%
FCF PAYOUT RATIO AVG 20Y
28.64%
CURRENT VS TTM AVG
+13.60%
CURRENT VS 3Y AVG
-7.44%
CURRENT VS 5Y AVG
-11.94%
CURRENT VS 10Y AVG
-24.09%
CURRENT VS 15Y AVG
-30.85%
CURRENT VS 20Y AVG
-30.39%
FCF Payout Ratio TTM
19.9%
Earnings Payout Ratio
15.2%
Dividend Yield
0.44%
FCF Yield
2.17%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $341.30M | $52.90M | 15.5% |
| 2024 | $236.20M | $46.90M | 19.9% |
| 2023 | $189.20M | $57.30M | 30.3% |
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 | 19.94% |
| 2026-03-31 | 20.80% |
| 2025-12-31 | 15.33% |
| 2025-09-30 | 15.01% |
| 2025-06-30 | 16.68% |
| 2025-03-31 | 18.28% |
| 2024-12-31 | 19.86% |
| 2024-09-30 | 24.54% |
| 2024-06-30 | 23.07% |
| 2024-03-31 | 24.02% |
| 2023-12-31 | 30.84% |
| 2023-09-30 | 30.09% |
| 2022-06-30 | 37.28% |
| 2022-03-31 | 30.76% |
| 2021-12-31 | 22.55% |
| 2021-09-30 | 25.80% |
| 2021-06-30 | 24.67% |
| 2021-03-31 | 27.34% |
| 2020-12-31 | 36.30% |
| 2020-09-30 | 25.06% |
| 2020-06-30 | 26.05% |
| 2020-03-31 | 23.71% |
| 2019-12-31 | 28.67% |
| 2019-09-30 | 32.66% |
| 2019-06-30 | 37.78% |
| 2019-03-31 | 62.23% |
| 2018-12-31 | 27.37% |
| 2018-09-30 | 29.86% |
| 2018-06-30 | 26.39% |
| 2018-03-31 | 24.80% |
| 2017-12-31 | 29.19% |
| 2017-09-30 | 28.27% |
| 2017-06-30 | 26.80% |
| 2017-03-31 | 26.80% |
| 2016-12-31 | 29.18% |
| 2016-09-30 | 33.46% |
| 2016-06-30 | 41.07% |
| 2016-03-31 | 42.45% |
| 2015-12-31 | 40.34% |
| 2015-09-30 | 33.77% |
| 2015-06-30 | 34.68% |
| 2015-03-31 | 33.24% |
| 2014-12-31 | 33.55% |
| 2014-09-30 | 32.95% |
| 2014-06-30 | 29.75% |
| 2014-03-31 | 33.12% |
| 2013-12-31 | 32.04% |
| 2013-09-30 | 30.15% |
| 2013-06-30 | 31.86% |
| 2013-03-31 | 27.46% |
| 2012-12-31 | 30.17% |
| 2012-09-30 | 44.52% |
| 2012-06-30 | 49.98% |
| 2012-03-31 | 65.55% |
| 2011-12-31 | 49.53% |
| 2011-09-30 | 53.15% |
| 2011-06-30 | 99.56% |
| 2011-03-31 | 69.01% |
| 2010-12-31 | 44.77% |
| 2010-09-30 | 47.80% |
| 2010-06-30 | 24.99% |
| 2010-03-31 | 27.89% |
| 2009-12-31 | 29.12% |
| 2009-09-30 | 30.38% |
| 2009-06-30 | 44.59% |
| 2009-03-31 | 39.53% |
| 2008-12-31 | 30.91% |
| 2008-09-30 | 26.15% |
| 2008-06-30 | 20.97% |
| 2008-03-31 | 21.70% |
| 2007-12-31 | 21.36% |
| 2007-09-30 | 20.32% |
| 2007-06-30 | 23.72% |
| 2007-03-31 | 19.92% |
| 2006-12-31 | 21.74% |
| 2006-09-30 | 21.55% |
| 2006-06-30 | 16.94% |
| 2006-03-31 | 16.42% |
| 2005-12-31 | 17.46% |
| 2005-09-30 | 20.07% |
| 2005-06-30 | 25.10% |
| 2005-03-31 | 28.11% |
| 2004-12-31 | 26.78% |
| 2004-09-30 | 21.12% |
| 2004-06-30 | 20.92% |
| 2004-03-31 | 21.38% |
| 2003-12-31 | 17.66% |
| 2003-09-30 | 19.30% |
| 2003-06-30 | 17.04% |
| 2022 |
| ($509.30M) |
| $105.90M |
| N/A (Loss) |
| 2021 | $463.20M | $100.60M | 21.7% |
| 2020 | $275.40M | $100.40M | 36.5% |
| 2019 | $325.10M | $93.20M | 28.7% |
| 2018 | $305.00M | $83.50M | 27.4% |
| 2017 | $268.50M | $78.40M | 29.2% |
| 2016 | $266.60M | $77.20M | 29.0% |
| 2015 | $189.70M | $76.60M | 40.4% |
| 2014 | $220.22M | $73.88M | 33.6% |
| 2013 | $209.97M | $67.27M | 32.0% |
| 2012 | $205.45M | $61.97M | 30.2% |
| 2011 | $115.08M | $56.99M | 49.5% |
| 2010 | $112.50M | $50.37M | 44.8% |
| 2009 | $160.67M | $46.78M | 29.1% |
| 2008 | $146.26M | $45.20M | 30.9% |
| 2007 | $185.66M | $39.65M | 21.4% |
| 2006 | $154.52M | $33.60M | 21.7% |
| 2005 | $154.38M | $26.96M | 17.5% |
| 2004 | $88.46M | $23.69M | 26.8% |
| 2003 | $134.60M | $23.77M | 17.7% |
| 2002 | $171.94M | $23.90M | 13.9% |
| 2001 | $165.42M | $23.92M | 14.5% |
| 2000 | $121.20M | $24.32M | 20.1% |
| 1999 | $256.80M | $26.70M | 10.4% |
| 1998 | $137.60M | $25.20M | 18.3% |
| 1997 | $109.20M | $22.90M | 21.0% |
| 1996 | $71.70M | $22.70M | 31.7% |
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.
