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 37.47% is 10% above its 5-year average of 34.02%, near the high end of its 5-year range (21.34%–41.00%).
As of the fiscal period ended Sunday, June 14, 2026. 4.15% above its 12-month average of 35.97%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
37.47%
FCF PAYOUT RATIO AVG TTM
35.97%
FCF PAYOUT RATIO AVG 3Y
35.67%
FCF PAYOUT RATIO AVG 5Y
35.76%
FCF PAYOUT RATIO AVG 10Y
31.68%
FCF PAYOUT RATIO AVG 15Y
31.95%
FCF PAYOUT RATIO AVG 20Y
31.71%
CURRENT VS TTM AVG
+4.15%
CURRENT VS 3Y AVG
+5.03%
CURRENT VS 5Y AVG
+4.79%
CURRENT VS 10Y AVG
+18.27%
CURRENT VS 15Y AVG
+17.28%
CURRENT VS 20Y AVG
+18.14%
FCF Payout Ratio TTM
37.5%
Earnings Payout Ratio
42.2%
Dividend Yield
2.24%
FCF Yield
5.89%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $671.50M | $236.86M | 35.3% |
| 2024 | $512.01M | $209.94M | 41.0% |
| 2023 | $388.08M | $157.53M | 40.6% |
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 |
|---|---|
| 2026-06-14 | 37.47% |
| 2026-03-22 | 36.34% |
| 2025-12-28 | 35.27% |
| 2025-09-07 | 35.38% |
| 2025-06-15 | 35.41% |
| 2025-03-23 | 36.68% |
| 2024-12-29 | 41.00% |
| 2024-09-08 | 38.14% |
| 2024-06-16 | 35.17% |
| 2024-03-24 | 34.48% |
| 2023-12-31 | 34.97% |
| 2023-09-10 | 34.67% |
| 2023-06-18 | 34.09% |
| 2023-03-26 | 37.75% |
| 2022-12-31 | 40.59% |
| 2022-09-11 | 36.45% |
| 2022-06-19 | 34.08% |
| 2022-03-27 | 28.44% |
| 2021-12-31 | 24.89% |
| 2021-09-12 | 21.34% |
| 2021-06-20 | 21.78% |
| 2021-03-28 | 21.68% |
| 2020-12-31 | 24.19% |
| 2020-09-06 | 25.23% |
| 2020-06-14 | 26.42% |
| 2020-03-22 | 26.13% |
| 2019-12-31 | 25.70% |
| 2019-09-08 | 27.61% |
| 2019-06-16 | 28.65% |
| 2019-03-24 | 31.89% |
| 2018-12-31 | 33.60% |
| 2018-09-09 | 32.82% |
| 2018-06-17 | 30.93% |
| 2018-03-25 | 34.22% |
| 2017-12-31 | 33.85% |
| 2017-09-10 | 28.17% |
| 2017-06-18 | 28.12% |
| 2017-03-26 | 25.06% |
| 2016-12-31 | 32.32% |
| 2016-09-11 | 31.79% |
| 2016-06-19 | 36.08% |
| 2016-03-27 | 42.10% |
| 2015-12-31 | 35.15% |
| 2015-09-06 | 36.81% |
| 2015-06-14 | 35.88% |
| 2015-03-22 | 32.85% |
| 2014-12-31 | 43.23% |
| 2014-09-07 | 31.95% |
| 2014-06-15 | 34.18% |
| 2014-03-23 | 31.96% |
| 2013-12-31 | 22.29% |
| 2013-09-08 | 16.09% |
| 2013-06-16 | 7.94% |
| 2013-03-24 | 107.38% |
| 2012-12-31 | 126.13% |
| 2012-09-09 | 129.10% |
| 2012-06-17 | 129.47% |
| 2007-03-25 | 32.57% |
| 2006-12-31 | 26.46% |
| 2006-09-10 | 28.37% |
| 2006-06-18 | 27.25% |
| 2006-03-26 | 26.11% |
| 2005-12-31 | 23.91% |
| 2005-09-11 | 19.53% |
| 2005-06-19 | 20.30% |
| 2005-03-27 | 12.74% |
| 2004-12-31 | 16.85% |
| 2023 |
| $485.47M |
| $169.77M |
| 35.0% |
| 2022 | $560.03M | $139.40M | 24.9% |
| 2021 | $504.03M | $121.92M | 24.2% |
| 2019 | $411.38M | $105.72M | 25.7% |
| 2018 | $274.28M | $92.17M | 33.6% |
| 2017 | $249.03M | $84.30M | 33.9% |
| 2016 | $228.72M | $73.92M | 32.3% |
| 2015 | $228.50M | $80.33M | 35.2% |
| 2014 | $122.25M | $52.84M | 43.2% |
| 2013 | $153.60M | $34.24M | 22.3% |
| 2012 | $147.05M | $185.48M | 126.1% |
| 2011 | $128.72M | $0 | 0.0% |
| 2010 | $102.90M | $0 | 0.0% |
| 2009 | $78.40M | $0 | 0.0% |
| 2008 | $55.85M | $0 | 0.0% |
| 2007 | $41.77M | $896.97M | n/m |
| 2006 | $112.80M | $29.84M | 26.5% |
| 2005 | $112.51M | $26.90M | 23.9% |
| 2004 | $73.70M | $4.46M | 6.1% |
| 2003 | $73.36M | $188.33M | 256.7% |
| 2001 | ($40.60M) | $0 | N/A (Loss) |
| 2000 | ($37.90M) | $0 | N/A (Loss) |
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.
