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 10.82% is 50% below its 4-year average of 21.72%, near the low end of its 4-year range (3.96%–60.68%).
As of the fiscal period ended Tuesday, June 30, 2026. 19.66% below its 12-month average of 13.47%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
10.82%
FCF PAYOUT RATIO AVG TTM
13.47%
FCF PAYOUT RATIO AVG 3Y
27.24%
FCF PAYOUT RATIO AVG 5Y
14.24%
FCF PAYOUT RATIO AVG 10Y
13.24%
FCF PAYOUT RATIO AVG 15Y
13.24%
FCF PAYOUT RATIO AVG 20Y
21.12%
CURRENT VS TTM AVG
-19.66%
CURRENT VS 3Y AVG
-60.28%
CURRENT VS 5Y AVG
-24.03%
CURRENT VS 10Y AVG
-18.29%
CURRENT VS 15Y AVG
-18.29%
CURRENT VS 20Y AVG
-48.77%
FCF Payout Ratio TTM
10.8%
Earnings Payout Ratio
19.6%
Dividend Yield
1.24%
FCF Yield
11.45%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $2.84B | $389.63M | 13.7% |
| 2024 | $573.26M | $326.58M | 57.0% |
| 2023 | $1.16B | $228.34M | 19.7% |
| 2022 | $2.07B | $203.63M | 9.9% |
| 2021 | $607.32M | $0 | 0.0% |
| 2020 | $495.47M | $7.66M | 1.5% |
| 2019 | $249.25M | $30.66M | 12.3% |
| 2018 | ($755.51M) | $31.38M | N/A (Loss) |
| 2017 | ($1.12B) | $20.83M | N/A (Loss) |
| 2016 | ($1.53B) | $20.16M | N/A (Loss) |
| 2015 | ($1.22B) | $18.31M | N/A (Loss) |
| 2014 | ($1.04B) | $18.21M | N/A (Loss) |
| 2013 | ($600.50M) | $18.09M | N/A (Loss) |
| 2012 | ($578.52M) | $131.80M | N/A (Loss) |
| 2011 | ($359.02M) | $131.63M | N/A (Loss) |
| 2010 | ($461.25M) | $127.29M | N/A (Loss) |
| 2009 | ($238.17M) | $115.37M | N/A (Loss) |
| 2008 | ($834.84M) | $111.40M | N/A (Loss) |
| 2007 | ($349.95M) | $107.09M | N/A (Loss) |
| 2006 | $214.75M | $104.87M | 48.8% |
| 2005 | ($587.76M) | $99.74M | N/A (Loss) |
| 2004 | ($25.99M) | $89.36M | N/A (Loss) |
| 2003 | ($100.47M) | $60.42M | N/A (Loss) |
| 2002 | ($5.48M) | $41.81M | N/A (Loss) |
| 2001 | ($2.81M) | $40.36M | N/A (Loss) |
| 2000 | $237.43M | $38.49M | 16.2% |
| 1999 | $31.30M | $40.40M | 129.1% |
| 1998 | ($106.00M) | $43.80M | N/A (Loss) |
| 1997 | ($138.70M) | $42.70M | N/A (Loss) |
| 1996 | ($44.70M) | $41.50M | 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.
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 | 10.82% |
| 2026-03-31 | 9.82% |
| 2025-12-31 | 13.69% |
| 2025-09-30 | 15.29% |
| 2025-06-30 | 17.72% |
| 2025-03-31 | 29.43% |
| 2024-12-31 | 56.97% |
| 2024-09-30 | 59.70% |
| 2024-06-30 | 60.68% |
| 2024-03-31 | 39.75% |
| 2023-12-31 | 19.69% |
| 2023-09-30 | 12.22% |
| 2023-06-30 | 8.36% |
| 2023-03-31 | 8.41% |
| 2022-12-31 | 9.86% |
| 2022-09-30 | 6.83% |
| 2022-06-30 | 7.77% |
| 2022-03-31 | 3.96% |
| 2020-12-31 | 1.55% |
| 2020-09-30 | 7.10% |
| 2020-06-30 | 17.01% |
| 2019-12-31 | 12.30% |
| 2019-09-30 | 101.09% |
| 2007-03-31 | 221.38% |
| 2006-12-31 | 48.83% |
| 2006-09-30 | 29.13% |
