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 56.61% is 112% above its 5-year average of 26.72%, near the high end of its 5-year range (7.02%–59.88%).
As of the fiscal period ended Tuesday, June 30, 2026. 7.68% above its 12-month average of 52.57%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted. Q2 FY2026 (2026-06-30): 56.61%.
FCF PAYOUT RATIO
56.61%
FCF PAYOUT RATIO AVG TTM
52.57%
FCF PAYOUT RATIO AVG 3Y
36.48%
FCF PAYOUT RATIO AVG 5Y
26.72%
FCF PAYOUT RATIO AVG 10Y
26.17%
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+7.68%
CURRENT VS 3Y AVG
+55.20%
CURRENT VS 5Y AVG
+111.90%
CURRENT VS 10Y AVG
+116.28%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
56.6%
Earnings Payout Ratio
106.4%
Dividend Yield
8.18%
FCF Yield
8.90%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $728.20M | $350.20M | 48.1% |
| 2024 | $634.20M | $235.30M | 37.1% |
| 2023 | $642.90M | $127.50M | 19.8% |
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 | 56.61% |
| 2026-03-31 | 57.65% |
| 2025-12-31 | 59.88% |
| 2025-09-30 | 45.45% |
| 2025-06-30 | 43.28% |
| 2025-03-31 | 38.99% |
| 2024-12-31 | 37.10% |
| 2024-09-30 | 31.49% |
| 2024-06-30 | 26.17% |
| 2024-03-31 | 23.96% |
| 2023-12-31 | 19.83% |
| 2023-09-30 | 17.75% |
| 2023-06-30 | 16.03% |
| 2023-03-31 | 15.86% |
| 2022-12-31 | 14.61% |
| 2022-09-30 | 12.99% |
| 2022-06-30 | 12.17% |
| 2022-03-31 | 9.33% |
| 2021-12-31 | 7.81% |
| 2021-09-30 | 7.05% |
| 2021-06-30 | 7.02% |
| 2021-03-31 | 7.72% |
| 2020-12-31 | 9.28% |
| 2020-09-30 | 18.66% |
| 2020-06-30 | 24.91% |
| 2020-03-31 | 32.75% |
| 2019-12-31 | 37.79% |
| 2019-09-30 | 32.56% |
| 2019-06-30 | 31.23% |
| 2019-03-31 | 31.31% |
| 2018-12-31 | 29.34% |
| 2018-09-30 | 25.52% |
| 2018-06-30 | 21.68% |
| 2018-03-31 | 129.39% |
| 2017-12-31 | 181.06% |
| 2017-09-30 | 266.01% |
| 2017-06-30 | 373.04% |
| 2017-03-31 | 261.21% |
| 2016-12-31 | 247.30% |
| 2016-09-30 | 554.40% |
| 2016-06-30 | 226.14% |
| 2016-03-31 | 75.85% |
| 2015-12-31 | 40.55% |
| 2015-09-30 | 43.76% |
| 2015-06-30 | 81.83% |
| 2022 |
| $622.90M |
| $91.00M |
| 14.6% |
| 2021 | $632.30M | $49.40M | 7.8% |
| 2020 | $340.60M | $31.60M | 9.3% |
| 2019 | $164.30M | $85.40M | 52.0% |
| 2018 | $225.00M | $396.10M | 176.0% |
| 2017 | $263.50M | $477.10M | 181.1% |
| 2016 | $124.10M | $306.90M | 247.3% |
| 2015 | $73.00M | $339.10M | 464.5% |
| 2014 | ($158.20M) | $27.60M | N/A (Loss) |
| 2013 | ($608.60M) | $0 | N/A (Loss) |
| 2012 | ($400.80M) | $0 | N/A (Loss) |
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.
