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 35.13% is 59% above its 4-year average of 22.08%, near the high end of its 4-year range (3.00%–38.36%).
As of the fiscal period ended Tuesday, March 31, 2026. 24.21% above its 12-month average of 28.28%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
35.13%
FCF PAYOUT RATIO AVG TTM
28.28%
FCF PAYOUT RATIO AVG 3Y
26.63%
FCF PAYOUT RATIO AVG 5Y
22.08%
FCF PAYOUT RATIO AVG 10Y
21.76%
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+24.21%
CURRENT VS 3Y AVG
+31.90%
CURRENT VS 5Y AVG
+59.10%
CURRENT VS 10Y AVG
+61.44%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
35.1%
Earnings Payout Ratio
38.4%
Dividend Yield
3.17%
FCF Yield
8.69%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $543.00M | $136.00M | 25.0% |
| 2024 | $350.00M | $113.00M | 32.3% |
| 2023 | $460.00M | $81.00M | 17.6% |
| 2022 | $311.00M | $59.00M | 19.0% |
| 2021 | $466.00M | $14.00M | 3.0% |
| 2020 | $59.00M | $0 | 0.0% |
| 2019 | $221.00M | $0 | 0.0% |
| 2018 | ($229.00M) | $0 | N/A (Loss) |
| 2017 | ($123.00M) | $0 | N/A (Loss) |
| 2016 | $55.00M | $0 | 0.0% |
| 2015 | $2.00M | $12.00M | 600.0% |
| 2014 | $351.00M | $6.00B | n/m |
| 2013 | $807.00M | $763.00M | 94.5% |
| 2012 | ($108.00M) | $0 | N/A (Loss) |
| 2011 | $292.00M | $0 | 0.0% |
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.
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 | 35.13% |
| 2025-12-31 | 25.05% |
| 2025-09-30 | 25.32% |
| 2025-06-30 | 28.06% |
| 2025-03-31 | 27.85% |
| 2024-12-31 | 32.29% |
| 2024-09-30 | 34.26% |
| 2024-06-30 | 38.36% |
| 2024-03-31 | 36.94% |
| 2023-12-31 | 17.61% |
| 2023-09-30 | 17.87% |
| 2023-06-30 | 14.63% |
| 2023-03-31 | 12.87% |
| 2022-12-31 | 18.97% |
| 2022-09-30 | 12.93% |
| 2022-06-30 | 9.69% |
| 2022-03-31 | 6.63% |
| 2021-12-31 | 3.00% |
| 2016-06-30 | 266.67% |
| 2016-03-31 | 16.00% |
| 2014-09-30 | 99.75% |
| 2014-06-30 | 106.19% |
| 2014-03-31 | 94.53% |
| 2013-12-31 | 94.55% |
