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 32.47% is 68% below its 5-year average of 102.56%, near the low end of its 5-year range (32.47%–300.85%).
As of the fiscal period ended Sunday, June 28, 2026. 34.60% below its 12-month average of 49.66%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
32.47%
FCF PAYOUT RATIO AVG TTM
49.66%
FCF PAYOUT RATIO AVG 3Y
55.22%
FCF PAYOUT RATIO AVG 5Y
102.56%
FCF PAYOUT RATIO AVG 10Y
53.56%
FCF PAYOUT RATIO AVG 15Y
54.32%
FCF PAYOUT RATIO AVG 20Y
48.24%
CURRENT VS TTM AVG
-34.60%
CURRENT VS 3Y AVG
-41.19%
CURRENT VS 5Y AVG
-68.34%
CURRENT VS 10Y AVG
-39.37%
CURRENT VS 15Y AVG
-40.21%
CURRENT VS 20Y AVG
-32.68%
FCF Payout Ratio TTM
32.5%
Earnings Payout Ratio
N/A
Dividend Yield
2.98%
FCF Yield
9.03%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $829.90M | $392.50M | 47.3% |
| 2024 | $760.20M | $389.90M | 51.3% |
| 2023 | $516.30M | $388.00M | 75.2% |
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 |
|---|---|
| 2026-06-28 | 32.47% |
| 2026-03-29 | 38.50% |
| 2025-12-28 | 47.29% |
| 2025-09-28 | 60.39% |
| 2025-06-29 | 69.63% |
| 2025-03-31 | 60.82% |
| 2024-12-31 | 59.99% |
| 2024-09-29 | 49.71% |
| 2024-06-30 | 50.06% |
| 2024-03-31 | 63.41% |
| 2023-12-31 | 75.15% |
| 2023-10-01 | 160.36% |
| 2023-07-02 | 289.39% |
| 2023-04-02 | 300.85% |
| 2022-12-31 | 193.91% |
| 2022-09-25 | 166.84% |
| 2022-06-26 | 155.80% |
| 2022-03-27 | 85.95% |
| 2021-12-31 | 54.66% |
| 2021-09-26 | 36.10% |
| 2021-06-27 | 31.95% |
| 2021-03-28 | 39.52% |
| 2020-12-31 | 43.81% |
| 2020-09-27 | 58.64% |
| 2020-06-28 | 82.16% |
| 2020-03-29 | 64.79% |
| 2019-12-31 | 64.80% |
| 2019-09-29 | 45.05% |
| 2019-06-30 | 52.82% |
| 2019-03-31 | 69.78% |
| 2018-12-31 | 61.17% |
| 2018-09-30 | 53.57% |
| 2018-07-01 | 63.62% |
| 2018-04-01 | 57.18% |
| 2017-12-31 | 46.98% |
| 2017-10-01 | 40.30% |
| 2017-07-02 | 36.56% |
| 2017-04-02 | 34.48% |
| 2016-12-31 | 40.14% |
| 2016-09-25 | 49.64% |
| 2016-06-26 | 53.14% |
| 2016-03-27 | 59.10% |
| 2015-12-31 | 55.02% |
| 2015-09-27 | 61.09% |
| 2015-06-28 | 48.62% |
| 2015-03-29 | 53.77% |
| 2014-12-31 | 63.59% |
| 2014-09-28 | 79.95% |
| 2014-06-29 | 207.63% |
| 2014-03-30 | 88.49% |
| 2013-12-31 | 54.01% |
| 2013-09-29 | 61.10% |
| 2013-06-30 | 37.22% |
| 2013-03-31 | 43.03% |
| 2012-12-31 | 53.34% |
| 2012-09-30 | 39.20% |
| 2012-07-01 | 44.43% |
| 2012-04-01 | 52.03% |
| 2011-12-31 | 51.92% |
| 2011-09-25 | 58.65% |
| 2011-06-26 | 68.66% |
| 2011-03-27 | 52.82% |
| 2010-12-31 | 52.10% |
| 2010-09-26 | 33.69% |
| 2010-06-27 | 23.20% |
| 2010-03-28 | 24.48% |
| 2009-12-31 | 69.02% |
| 2009-09-27 | 44.23% |
| 2009-06-28 | 40.44% |
| 2009-03-31 | 37.36% |
| 2008-12-31 | 22.49% |
| 2008-09-28 | 22.07% |
| 2008-06-29 | 20.42% |
| 2008-03-31 | 16.15% |
| 2007-12-31 | 18.44% |
| 2007-09-30 | 23.85% |
| 2007-07-01 | 24.27% |
| 2007-04-01 | 21.83% |
| 2006-12-31 | 31.56% |
| 2006-10-01 | 22.37% |
| 2006-07-02 | 21.45% |
| 2006-04-02 | 33.60% |
| 2005-12-31 | 13.83% |
| 2005-09-25 | 14.14% |
| 2005-06-26 | 16.33% |
| 2005-03-27 | 13.84% |
| 2004-12-31 | 13.28% |
| 2004-09-26 | 6.89% |
| 2004-06-27 | 5.49% |
| 2004-03-28 | 4.32% |
| 2003-12-31 | 5.33% |
| 2003-09-28 | 6.25% |
| 2003-06-29 | 5.17% |
| 2022 |
| $198.70M |
| $385.30M |
| 193.9% |
| 2021 | $685.20M | $374.50M | 54.7% |
| 2020 | $850.59M | $372.65M | 43.8% |
| 2019 | $519.42M | $336.60M | 64.8% |
| 2018 | $505.57M | $309.26M | 61.2% |
| 2017 | $589.50M | $276.97M | 47.0% |
| 2016 | $619.97M | $248.88M | 40.1% |
| 2015 | $410.42M | $225.80M | 55.0% |
| 2014 | $341.02M | $216.85M | 63.6% |
| 2013 | $289.10M | $156.13M | 54.0% |
| 2012 | $422.70M | $225.46M | 53.3% |
| 2011 | $296.67M | $154.03M | 51.9% |
| 2010 | $255.38M | $133.05M | 52.1% |
| 2009 | $161.49M | $111.46M | 69.0% |
| 2008 | $476.04M | $107.06M | 22.5% |
| 2007 | $510.26M | $94.10M | 18.4% |
| 2006 | $238.54M | $75.28M | 31.6% |
| 2005 | $426.04M | $58.90M | 13.8% |
| 2004 | $279.27M | $37.09M | 13.3% |
| 2003 | $391.08M | $20.85M | 5.3% |
| 2002 | $414.48M | $20.77M | 5.0% |
| 2001 | $322.43M | $20.71M | 6.4% |
| 2000 | $37.50M | $42.49M | 113.3% |
| 1999 | $284.00M | $45.50M | 16.0% |
| 1998 | ($683.10M) | $42.30M | N/A (Loss) |
| 1997 | $444.40M | $39.70M | 8.9% |
| 1996 | $178.10M | $33.00M | 18.5% |
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.
