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 7.97% is 55% below its 5-year average of 17.62%, near the low end of its 5-year range (7.97%–32.05%).
As of the fiscal period ended Tuesday, June 30, 2026. 22.48% below its 12-month average of 10.28%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
7.97%
FCF PAYOUT RATIO AVG TTM
10.28%
FCF PAYOUT RATIO AVG 3Y
16.05%
FCF PAYOUT RATIO AVG 5Y
17.62%
FCF PAYOUT RATIO AVG 10Y
N/A
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-22.48%
CURRENT VS 3Y AVG
-50.38%
CURRENT VS 5Y AVG
-54.80%
CURRENT VS 10Y AVG
N/A
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
8.0%
Earnings Payout Ratio
14.3%
Dividend Yield
0.91%
FCF Yield
13.28%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $1.47B | $287.00M | 19.6% |
| 2025 | $2.99B | $277.00M | 9.3% |
| 2024 | $1.50B | $281.00M | 18.8% |
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 | 7.97% |
| 2026-03-31 | 12.07% |
| 2025-12-31 | 11.44% |
| 2025-09-30 | 10.66% |
| 2025-06-30 | 9.25% |
| 2025-03-31 | 11.57% |
| 2024-12-31 | 14.85% |
| 2024-09-30 | 16.70% |
| 2024-06-30 | 18.80% |
| 2024-03-31 | 25.90% |
| 2023-12-31 | 24.40% |
| 2023-09-30 | 24.38% |
| 2023-06-30 | 20.72% |
| 2023-03-31 | 16.06% |
| 2022-12-31 | 16.08% |
| 2022-09-30 | 16.92% |
| 2022-06-30 | 19.47% |
| 2022-03-31 | 32.05% |
| 2021-12-31 | 21.98% |
| 2021-09-30 | 23.47% |
| 2021-06-30 | 15.31% |
| 2021-03-31 | 8.21% |
| 2020-12-31 | 14.45% |
| 2020-09-30 | 16.86% |
| 2020-06-30 | 16.70% |
| 2020-03-31 | 25.29% |
| 2019-12-31 | 346.08% |
| 2019-09-30 | 297.69% |
| 2019-06-30 | 292.18% |
| 2019-03-31 | 335.94% |
| 2018-12-31 | 5.18% |
| 2018-09-30 | 7.47% |
| 2018-06-30 | 6.99% |
| 2023 |
| $1.44B |
| $299.00M |
| 20.7% |
| 2022 | $1.58B | $307.00M | 19.5% |
| 2021 | $2.15B | $330.00M | 15.3% |
| 2020 | $2.01B | $335.00M | 16.7% |
| 2019 | $2.29B | $6.69B | 292.2% |
| 2018 | $1.10B | $77.00M | 7.0% |
| 2017 | $1.46B | $35.00M | 2.4% |
| 2016 | $990.00M | $36.00M | 3.6% |
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.
