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 20.09% is 28% below its 5-year average of 27.75%, near the low end of its 5-year range (14.73%–41.81%).
As of the fiscal period ended Friday, July 3, 2026. 7.41% below its 12-month average of 21.70%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted. Q1 FY2027 (2026-07-03): 20.09%.
FCF PAYOUT RATIO
20.09%
FCF PAYOUT RATIO AVG TTM
21.70%
FCF PAYOUT RATIO AVG 3Y
21.86%
FCF PAYOUT RATIO AVG 5Y
27.75%
FCF PAYOUT RATIO AVG 10Y
27.12%
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-7.41%
CURRENT VS 3Y AVG
-8.11%
CURRENT VS 5Y AVG
-27.59%
CURRENT VS 10Y AVG
-25.91%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
20.1%
Earnings Payout Ratio
29.1%
Dividend Yield
1.65%
FCF Yield
11.96%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $1.52B | $312.00M | 20.5% |
| 2025 | $1.21B | $313.00M | 26.0% |
| 2024 | $2.04B | $323.00M | 15.8% |
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 |
|---|---|
| 2026-07-03 | 20.09% |
| 2026-04-03 | 20.49% |
| 2026-01-02 | 20.63% |
| 2025-10-03 | 24.08% |
| 2025-07-04 | 23.20% |
| 2025-03-28 | 25.95% |
| 2024-12-27 | 14.73% |
| 2024-09-27 | 15.00% |
| 2024-06-28 | 15.45% |
| 2024-03-29 | 15.80% |
| 2023-12-29 | 33.44% |
| 2023-09-29 | 33.51% |
| 2023-06-30 | 41.58% |
| 2023-03-31 | 41.81% |
| 2022-12-30 | 40.82% |
| 2022-09-30 | 38.58% |
| 2022-06-30 | 32.47% |
| 2022-03-31 | 31.30% |
| 2021-12-31 | 30.33% |
| 2021-09-30 | 35.65% |
| 2021-06-30 | 44.67% |
| 2021-03-31 | 53.29% |
| 2019-12-31 | 17.15% |
| 2019-09-30 | 16.51% |
| 2019-06-30 | 16.29% |
| 2019-03-31 | 17.04% |
| 2018-12-31 | 21.42% |
| 2018-09-30 | 21.67% |
| 2018-06-30 | 22.32% |
| 2018-03-31 | 26.11% |
| 2017-12-31 | 23.07% |
| 2017-09-30 | 27.55% |
| 2017-06-30 | 32.84% |
| 2016-03-31 | 578.24% |
| 2015-12-31 | 56.87% |
| 2015-09-30 | 43.84% |
| 2015-06-30 | 43.70% |
| 2015-03-31 | 44.36% |
| 2014-12-31 | 46.32% |
| 2014-09-30 | 45.96% |
| 2014-06-30 | 42.95% |
| 2014-03-31 | 40.94% |
| 2013-12-31 | 26.84% |
| 2013-09-30 | 16.25% |
| 2013-06-30 | 8.42% |
| 2023 |
| $751.00M |
| $314.00M |
| 41.8% |
| 2022 | $968.00M | $303.00M | 31.3% |
| 2021 | $700.00M | $373.00M | 53.3% |
| 2020 | ($950.00M) | $7.48B | N/A (Loss) |
| 2019 | $1.29B | $217.00M | 16.8% |
| 2018 | $808.00M | $211.00M | 26.1% |
| 2017 | ($290.00M) | $222.00M | N/A (Loss) |
| 2016 | $566.00M | $3.03B | 535.3% |
| 2015 | $931.00M | $413.00M | 44.4% |
| 2014 | $1.02B | $418.00M | 40.9% |
| 2013 | $1.26B | $0 | 0.0% |
| 2012 | $1.61B | $0 | 0.0% |
| 2011 | $1.53B | $0 | 0.0% |
| 2010 | $1.45B | $0 | 0.0% |
| 2009 | $1.40B | $0 | 0.0% |
| 2008 | $1.54B | $0 | 0.0% |
| 2007 | $1.23B | $0 | 0.0% |
| 2006 | $1.26B | $0 | 0.0% |
| 2005 | $1.12B | $0 | 0.0% |
| 2004 | $791.39M | $0 | 0.0% |
| 2003 | $389.51M | $0 | 0.0% |
| 2002 | $370.34M | $0 | 0.0% |
| 2001 | $263.35M | $0 | 0.0% |
| 2000 | $195.77M | $0 | 0.0% |
| 1999 | $18.10M | $0 | 0.0% |
| 1998 | $103.60M | $0 | 0.0% |
| 1997 | $66.50M | $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.
