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 53.42% is 46% above its 5-year average of 36.61%, around the middle of its 5-year range (13.13%–109.75%).
As of the fiscal period ended Tuesday, June 30, 2026. 53.37% above its 12-month average of 34.83%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
53.42%
FCF PAYOUT RATIO AVG TTM
34.83%
FCF PAYOUT RATIO AVG 3Y
31.98%
FCF PAYOUT RATIO AVG 5Y
36.61%
FCF PAYOUT RATIO AVG 10Y
50.61%
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+53.37%
CURRENT VS 3Y AVG
+67.04%
CURRENT VS 5Y AVG
+45.94%
CURRENT VS 10Y AVG
+5.55%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
53.4%
Earnings Payout Ratio
127.6%
Dividend Yield
1.88%
FCF Yield
2.79%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $482.00M | $347.00M | 72.0% |
| 2025 | $1.60B | $489.00M | 30.5% |
| 2024 | $1.50B | $784.00M | 52.2% |
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 | 53.42% |
| 2026-03-31 | 34.54% |
| 2025-12-31 | 35.50% |
| 2025-10-31 | 30.05% |
| 2025-07-31 | 20.65% |
| 2025-04-30 | 34.92% |
| 2025-01-31 | 35.27% |
| 2024-10-31 | 48.64% |
| 2024-07-31 | 52.35% |
| 2024-04-30 | 29.77% |
| 2024-01-31 | 30.39% |
| 2023-10-31 | 37.18% |
| 2023-07-31 | 31.54% |
| 2023-04-30 | 40.79% |
| 2023-01-31 | 34.85% |
| 2022-10-31 | 13.13% |
| 2022-07-31 | 20.26% |
| 2022-04-30 | 56.86% |
| 2022-01-31 | 55.38% |
| 2021-10-31 | 109.75% |
| 2021-07-31 | 90.80% |
| 2021-04-30 | 84.43% |
| 2021-01-31 | 172.21% |
| 2020-10-31 | 44.81% |
| 2020-01-31 | 37.28% |
| 2019-10-31 | 42.18% |
| 2019-07-31 | 49.01% |
| 2019-04-30 | 128.18% |
| 2019-01-31 | 261.30% |
| 2018-10-31 | 211.29% |
| 2018-07-31 | 176.26% |
| 2018-04-30 | 112.74% |
| 2018-01-31 | 48.29% |
| 2017-10-31 | 45.78% |
| 2017-07-31 | 43.27% |
| 2017-04-30 | 87.57% |
| 2017-01-31 | 421.49% |
| 2015-10-31 | 222.11% |
| 2015-01-31 | 68.42% |
| 2014-10-31 | 120.71% |
| 2014-07-31 | 172.88% |
| 2014-04-30 | 136.41% |
| 2014-01-31 | 110.31% |
| 2013-10-31 | 91.42% |
| 2013-07-31 | 64.03% |
| 2013-04-30 | 45.50% |
| 2013-01-31 | 47.82% |
| 2023 |
| $2.28B |
| $711.00M |
| 31.2% |
| 2022 | $859.00M | $538.00M | 62.6% |
| 2021 | $1.14B | $1.04B | 90.8% |
| 2020 | $1.26B | $327.00M | 25.9% |
| 2019 | $872.00M | $445.00M | 51.0% |
| 2018 | $737.00M | $1.36B | 184.4% |
| 2017 | $754.43M | $328.00M | 43.5% |
| 2016 | $751.84M | $314.48M | 41.8% |
| 2015 | $706.77M | $346.37M | 49.0% |
| 2014 | $424.37M | $826.75M | 194.8% |
| 2013 | $417.55M | $793.95M | 190.1% |
| 2012 | $819.48M | $223.08M | 27.2% |
| 2011 | ($485.76M) | $68.93M | N/A (Loss) |
| 2010 | $1.01B | $0 | 0.0% |
| 2009 | $1.44B | $0 | 0.0% |
| 2008 | $1.62B | $426.33M | 26.4% |
| 2007 | $1.30B | $402.93M | 30.9% |
| 2006 | $351.26M | $289.22M | 82.3% |
| 2005 | $512.28M | $267.98M | 52.3% |
| 2004 | ($195.33M) | $238.47M | N/A (Loss) |
| 2003 | $382.55M | $182.01M | 47.6% |
| 2002 | $349.76M | $156.58M | 44.8% |
| 2001 | $252.23M | $784.00M | 310.8% |
| 2000 | $69.59M | $0 | 0.0% |
| 1999 | $34.04M | $0 | 0.0% |
| 1998 | $125.48M | $0 | 0.0% |
| 1997 | $68.40M | $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.
