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 21.02% is 35% below its 5-year average of 32.21%, near the low end of its 5-year range (13.46%–248.34%).
As of the fiscal period ended Tuesday, June 30, 2026. 17.21% above its 12-month average of 17.93%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted. Q2 FY2026 (2026-06-30): 21.02%.
FCF PAYOUT RATIO
21.02%
FCF PAYOUT RATIO AVG TTM
17.93%
FCF PAYOUT RATIO AVG 3Y
26.55%
FCF PAYOUT RATIO AVG 5Y
32.21%
FCF PAYOUT RATIO AVG 10Y
52.47%
FCF PAYOUT RATIO AVG 15Y
51.61%
FCF PAYOUT RATIO AVG 20Y
50.11%
CURRENT VS TTM AVG
+17.21%
CURRENT VS 3Y AVG
-20.81%
CURRENT VS 5Y AVG
-34.73%
CURRENT VS 10Y AVG
-59.94%
CURRENT VS 15Y AVG
-59.27%
CURRENT VS 20Y AVG
-58.05%
FCF Payout Ratio TTM
21.0%
Earnings Payout Ratio
N/A
Dividend Yield
0.49%
FCF Yield
2.13%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $598.40M | $120.90M | 20.2% |
| 2024 | $319.56M | $88.96M | 27.8% |
| 2023 | ($73.33M) | $89.25M | N/A (Loss) |
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 | 21.02% |
| 2026-03-31 | 20.56% |
| 2025-12-31 | 20.03% |
| 2025-09-30 | 13.46% |
| 2025-06-30 | 14.61% |
| 2025-03-31 | 15.70% |
| 2024-12-31 | 27.84% |
| 2024-09-30 | 44.46% |
| 2024-06-30 | 61.24% |
| 2022-12-31 | 248.34% |
| 2022-09-30 | 148.67% |
| 2022-03-31 | 30.25% |
| 2021-12-31 | 34.68% |
| 2021-09-30 | 47.74% |
| 2021-06-30 | 67.10% |
| 2021-03-31 | 54.36% |
| 2020-12-31 | 53.33% |
| 2020-09-30 | 127.82% |
| 2020-06-30 | 103.92% |
| 2019-03-31 | 26.72% |
| 2018-12-31 | 84.27% |
| 2018-09-30 | 60.62% |
| 2017-06-30 | 62.90% |
| 2016-12-31 | 80.80% |
| 2016-09-30 | 384.02% |
| 2016-06-30 | 37.23% |
| 2016-03-31 | 24.76% |
| 2015-12-31 | 20.79% |
| 2015-09-30 | 20.92% |
| 2015-06-30 | 36.89% |
| 2015-03-31 | 70.90% |
| 2014-12-31 | 64.03% |
| 2014-09-30 | 83.69% |
| 2014-06-30 | 117.36% |
| 2014-03-31 | 43.77% |
| 2013-12-31 | 72.67% |
| 2013-09-30 | 70.36% |
| 2013-06-30 | 46.56% |
| 2013-03-31 | 61.08% |
| 2012-12-31 | 43.36% |
| 2012-09-30 | 35.27% |
| 2012-06-30 | 41.32% |
| 2012-03-31 | 62.40% |
| 2011-12-31 | 89.40% |
| 2011-03-31 | 579.27% |
| 2010-12-31 | 136.63% |
| 2010-09-30 | 299.79% |
| 2010-06-30 | 70.25% |
| 2010-03-31 | 48.98% |
| 2009-12-31 | 74.80% |
| 2009-09-30 | 58.43% |
| 2009-06-30 | 102.52% |
| 2009-03-31 | 61.32% |
| 2008-12-31 | 21.88% |
| 2008-09-30 | 87.23% |
| 2008-06-30 | 10.45% |
| 2008-03-31 | 12.23% |
| 2007-12-31 | 9.12% |
| 2007-09-30 | 7.24% |
| 2007-06-30 | 8.82% |
| 2007-03-31 | 8.51% |
| 2006-12-31 | 9.27% |
| 2006-09-30 | 6.69% |
| 2006-06-30 | 7.33% |
| 2006-03-31 | 7.13% |
| 2005-12-31 | 8.59% |
| 2005-09-30 | 32.69% |
| 2005-06-30 | 139.61% |
| 2005-03-31 | 161.15% |
| 2004-12-31 | 273.91% |
| 2004-09-30 | 67.93% |
| 2004-06-30 | 10.24% |
| 2004-03-31 | 21.55% |
| 2003-12-31 | 26.04% |
| 2003-09-30 | 109.03% |
| 2003-06-30 | 21.44% |
| 2022 |
| $34.96M |
| $86.81M |
| 248.3% |
| 2021 | $228.31M | $79.17M | 34.7% |
| 2020 | $146.62M | $78.19M | 53.3% |
| 2019 | ($190.92M) | $62.58M | N/A (Loss) |
| 2018 | $89.36M | $75.31M | 84.3% |
| 2017 | ($6.99M) | $75.30M | N/A (Loss) |
| 2016 | $83.78M | $68.45M | 81.7% |
| 2015 | $335.65M | $69.79M | 20.8% |
| 2014 | $106.63M | $68.28M | 64.0% |
| 2013 | $103.96M | $75.55M | 72.7% |
| 2012 | $116.75M | $50.62M | 43.4% |
| 2011 | $68.94M | $61.63M | 89.4% |
| 2010 | $47.38M | $63.14M | 133.2% |
| 2009 | $101.83M | $76.17M | 74.8% |
| 2008 | $80.19M | $32.77M | 40.9% |
| 2007 | $157.50M | $27.41M | 17.4% |
| 2006 | $136.16M | $24.32M | 17.9% |
| 2005 | $128.88M | $21.63M | 16.8% |
| 2004 | $28.48M | $86.69M | 304.4% |
| 2003 | $30.07M | $14.88M | 49.5% |
| 2002 | $69.99M | $12.72M | 18.2% |
| 2001 | ($1.58M) | $12.13M | N/A (Loss) |
| 2000 | ($54.81M) | $9.43M | N/A (Loss) |
| 1999 | $19.14M | $8.99M | 47.0% |
| 1998 | ($0.30M) | $4.90M | N/A (Loss) |
| 1997 | ($9.20M) | $3.40M | N/A (Loss) |
| 1996 | ($9.30M) | $1.00M | 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.
