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 13.05% is 74% below its 5-year average of 50.33%, near the low end of its 5-year range (10.48%–470.04%).
As of the fiscal period ended Tuesday, March 31, 2026. 3.19% below its 12-month average of 13.48%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
13.05%
FCF PAYOUT RATIO AVG TTM
13.48%
FCF PAYOUT RATIO AVG 3Y
23.59%
FCF PAYOUT RATIO AVG 5Y
25.65%
FCF PAYOUT RATIO AVG 10Y
25.59%
FCF PAYOUT RATIO AVG 15Y
25.66%
FCF PAYOUT RATIO AVG 20Y
26.74%
CURRENT VS TTM AVG
-3.19%
CURRENT VS 3Y AVG
-44.70%
CURRENT VS 5Y AVG
-49.13%
CURRENT VS 10Y AVG
-49.02%
CURRENT VS 15Y AVG
-49.15%
CURRENT VS 20Y AVG
-51.21%
FCF Payout Ratio TTM
13.0%
Earnings Payout Ratio
74.3%
Dividend Yield
0.96%
FCF Yield
7.15%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $303.58M | $39.69M | 13.1% |
| 2024 | $308.87M | $35.81M | 11.6% |
| 2023 | $365.17M | $133.81M | 36.6% |
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 |
|---|---|
| 2026-03-31 | 13.05% |
| 2025-12-31 | 15.07% |
| 2025-09-30 | 13.07% |
| 2025-06-30 | 13.14% |
| 2025-03-31 | 13.05% |
| 2024-12-31 | 11.41% |
| 2024-09-30 | 11.58% |
| 2024-06-30 | 10.48% |
| 2024-03-31 | 38.85% |
| 2023-12-31 | 32.14% |
| 2023-09-30 | 36.64% |
| 2023-06-30 | 62.18% |
| 2023-03-31 | 36.05% |
| 2022-12-31 | 70.08% |
| 2022-09-30 | 470.04% |
| 2021-09-30 | 22.91% |
| 2021-06-30 | 22.95% |
| 2021-03-31 | 13.32% |
| 2020-12-31 | 12.44% |
| 2020-09-30 | 17.09% |
| 2020-06-30 | 13.85% |
| 2020-03-31 | 24.88% |
| 2019-12-31 | 32.89% |
| 2019-09-30 | 20.57% |
| 2019-06-30 | 99.38% |
| 2018-06-30 | 154.78% |
| 2018-03-31 | 20.01% |
| 2017-12-31 | 11.21% |
| 2017-09-30 | 10.72% |
| 2017-06-30 | 38.61% |
| 2017-03-31 | 30.33% |
| 2016-12-31 | 20.84% |
| 2016-09-30 | 64.58% |
| 2016-06-30 | 39.94% |
| 2016-03-31 | 25.03% |
| 2015-09-30 | 478.67% |
| 2014-12-31 | 21.59% |
| 2014-09-30 | 42.73% |
| 2014-06-30 | 11.03% |
| 2014-03-31 | 27.47% |
| 2013-12-31 | 22.69% |
| 2013-09-30 | 30.41% |
| 2013-06-30 | 150.43% |
| 2012-12-31 | 224.54% |
| 2012-09-30 | 25.67% |
| 2006-06-30 | 91.14% |
| 2006-03-31 | 68.99% |
| 2005-12-31 | 5.41% |
| 2005-09-30 | 10.78% |
| 2005-06-30 | 3.64% |
| 2005-03-31 | 4.95% |
| 2004-12-31 | 3.30% |
| 2004-09-30 | 8.91% |
| 2004-06-30 | 9.50% |
| 2004-03-31 | 6.06% |
| 2003-12-31 | 11.58% |
| 2022 |
| $26.95M |
| $126.68M |
| 470.0% |
| 2021 | $74.82M | $17.14M | 22.9% |
| 2020 | $85.01M | $14.53M | 17.1% |
| 2019 | $66.47M | $13.68M | 20.6% |
| 2018 | ($29.32M) | $49.80M | N/A (Loss) |
| 2017 | $61.41M | $10.32M | 16.8% |
| 2016 | $13.62M | $8.80M | 64.6% |
| 2015 | $1.60M | $7.65M | 478.7% |
| 2014 | $14.68M | $6.27M | 42.7% |
| 2013 | $19.15M | $5.83M | 30.4% |
| 2012 | $18.48M | $4.74M | 25.7% |
| 2011 | ($53.19M) | $0 | N/A (Loss) |
| 2010 | $42.01M | $0 | 0.0% |
| 2009 | $49.76M | $0 | 0.0% |
| 2008 | $27.52M | $0 | 0.0% |
| 2007 | $35.34M | $0 | 0.0% |
| 2006 | ($25.82M) | $0 | N/A (Loss) |
| 2005 | $18.32M | $0 | 0.0% |
| 2004 | $49.66M | $5.97M | 12.0% |
| 2003 | $23.44M | $0 | 0.0% |
| 2002 | $58.35M | $0 | 0.0% |
| 2001 | $72.10M | $0 | 0.0% |
| 2000 | ($8.18M) | $0 | N/A (Loss) |
| 1999 | ($32.00M) | $0 | N/A (Loss) |
| 1998 | ($53.60M) | $0 | N/A (Loss) |
| 1997 | $15.50M | $0 | 0.0% |
| 1996 | $27.30M | $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.
