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 5.83% is 30% below its 5-year average of 8.36%, near the low end of its 5-year range (5.83%–17.69%).
As of the fiscal period ended Tuesday, March 31, 2026. 7.17% below its 12-month average of 6.28%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
5.83%
FCF PAYOUT RATIO AVG TTM
6.28%
FCF PAYOUT RATIO AVG 3Y
6.55%
FCF PAYOUT RATIO AVG 5Y
7.53%
FCF PAYOUT RATIO AVG 10Y
8.12%
FCF PAYOUT RATIO AVG 15Y
9.39%
FCF PAYOUT RATIO AVG 20Y
10.23%
CURRENT VS TTM AVG
-7.17%
CURRENT VS 3Y AVG
-11.02%
CURRENT VS 5Y AVG
-22.61%
CURRENT VS 10Y AVG
-28.23%
CURRENT VS 15Y AVG
-37.97%
CURRENT VS 20Y AVG
-43.06%
FCF Payout Ratio TTM
5.8%
Earnings Payout Ratio
7.6%
Dividend Yield
0.14%
FCF Yield
2.20%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $553.71M | $34.73M | 6.3% |
| 2024 | $483.30M | $31.66M | 6.5% |
| 2023 | $403.42M | $30.25M | 7.5% |
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 | 5.83% |
| 2025-12-31 | 6.27% |
| 2025-09-30 | 6.37% |
| 2025-06-30 | 6.34% |
| 2025-03-31 | 6.57% |
| 2024-12-31 | 6.55% |
| 2024-09-30 | 6.53% |
| 2024-06-30 | 6.82% |
| 2024-03-31 | 6.75% |
| 2023-12-31 | 7.50% |
| 2023-09-30 | 7.08% |
| 2023-06-30 | 5.97% |
| 2023-03-31 | 9.94% |
| 2022-12-31 | 11.22% |
| 2022-09-30 | 14.86% |
| 2022-06-30 | 17.69% |
| 2022-03-31 | 11.63% |
| 2021-12-31 | 8.27% |
| 2021-09-30 | 7.57% |
| 2021-06-30 | 8.61% |
| 2021-03-31 | 7.23% |
| 2020-12-31 | 13.19% |
| 2020-09-30 | 13.65% |
| 2020-06-30 | 10.96% |
| 2020-03-31 | 13.46% |
| 2019-12-31 | 8.02% |
| 2019-09-30 | 8.29% |
| 2019-06-30 | 9.24% |
| 2019-03-31 | 8.95% |
| 2018-12-31 | 9.36% |
| 2018-09-30 | 9.60% |
| 2018-06-30 | 8.43% |
| 2018-03-31 | 8.54% |
| 2017-12-31 | 7.36% |
| 2017-09-30 | 8.75% |
| 2017-06-30 | 8.43% |
| 2017-03-31 | 8.25% |
| 2016-12-31 | 6.13% |
| 2016-09-30 | 5.90% |
| 2016-06-30 | 6.01% |
| 2016-03-31 | 6.54% |
| 2015-12-31 | 19.00% |
| 2015-09-30 | 18.02% |
| 2015-06-30 | 27.92% |
| 2015-03-31 | 15.96% |
| 2014-12-31 | 7.08% |
| 2014-09-30 | 8.38% |
| 2014-06-30 | 7.65% |
| 2014-03-31 | 12.36% |
| 2013-12-31 | 11.10% |
| 2013-09-30 | 11.64% |
| 2013-06-30 | 13.96% |
| 2013-03-31 | 16.11% |
| 2012-12-31 | 18.65% |
| 2012-09-30 | 9.69% |
| 2012-06-30 | 9.66% |
| 2012-03-31 | 7.32% |
| 2011-12-31 | 9.52% |
| 2011-09-30 | 9.89% |
| 2011-06-30 | 9.54% |
| 2011-03-31 | 12.23% |
| 2010-12-31 | 9.44% |
| 2010-09-30 | 11.21% |
| 2010-06-30 | 10.68% |
| 2010-03-31 | 8.12% |
| 2009-12-31 | 9.10% |
| 2009-09-30 | 11.86% |
| 2009-06-30 | 18.03% |
| 2009-03-31 | 15.82% |
| 2008-12-31 | 14.23% |
| 2008-09-30 | 14.33% |
| 2008-06-30 | 15.15% |
| 2008-03-31 | 16.65% |
| 2007-12-31 | 12.08% |
| 2007-09-30 | 6.81% |
| 2007-06-30 | 5.35% |
| 2007-03-31 | 6.36% |
| 2006-12-31 | 7.76% |
| 2006-09-30 | 12.62% |
| 2006-06-30 | 16.05% |
| 2006-03-31 | 14.53% |
| 2005-12-31 | 10.39% |
| 2005-09-30 | 14.12% |
| 2005-06-30 | 9.99% |
| 2005-03-31 | 11.58% |
| 2004-12-31 | 7.92% |
| 2004-09-30 | 10.75% |
| 2004-06-30 | 8.71% |
| 2004-03-31 | 12.19% |
| 2003-12-31 | 9.91% |
| 2003-09-30 | 10.16% |
| 2003-06-30 | 11.95% |
| 2003-03-31 | 8.18% |
| 2022 |
| $256.56M |
| $28.78M |
| 11.2% |
| 2021 | $346.56M | $28.66M | 8.3% |
| 2020 | $213.68M | $28.18M | 13.2% |
| 2019 | $351.65M | $28.20M | 8.0% |
| 2018 | $281.31M | $26.33M | 9.4% |
| 2017 | $336.01M | $24.74M | 7.4% |
| 2016 | $376.42M | $23.07M | 6.1% |
| 2015 | $126.97M | $24.12M | 19.0% |
| 2014 | $264.65M | $25.01M | 9.5% |
| 2013 | $165.59M | $18.38M | 11.1% |
| 2012 | $67.76M | $16.39M | 24.2% |
| 2011 | $117.51M | $14.89M | 12.7% |
| 2010 | $117.12M | $14.73M | 12.6% |
| 2009 | $120.26M | $14.56M | 12.1% |
| 2008 | $75.85M | $14.38M | 19.0% |
| 2007 | $80.98M | $12.44M | 15.4% |
| 2006 | $102.00M | $10.54M | 10.3% |
| 2005 | $62.73M | $8.46M | 13.5% |
| 2004 | $72.89M | $7.67M | 10.5% |
| 2003 | $50.20M | $6.52M | 13.0% |
| 2002 | $54.01M | $6.14M | 11.4% |
| 2001 | $41.91M | $5.44M | 13.0% |
| 2000 | $14.62M | $5.21M | 35.7% |
| 1999 | $11.90M | $5.30M | 44.5% |
| 1998 | ($26.40M) | $5.30M | N/A (Loss) |
| 1997 | $2.30M | $5.10M | 221.7% |
| 1996 | $19.00M | $5.10M | 26.8% |
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.
