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 6.93% is 11% below its 4-year average of 7.80%, around the middle of its 4-year range (4.69%–9.85%).
As of the fiscal period ended Tuesday, June 30, 2026. 3.07% above its 12-month average of 6.72%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
6.93%
FCF PAYOUT RATIO AVG TTM
6.72%
FCF PAYOUT RATIO AVG 3Y
7.98%
FCF PAYOUT RATIO AVG 5Y
7.80%
FCF PAYOUT RATIO AVG 10Y
14.49%
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+3.07%
CURRENT VS 3Y AVG
-13.25%
CURRENT VS 5Y AVG
-11.26%
CURRENT VS 10Y AVG
-52.20%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
6.9%
Earnings Payout Ratio
8.8%
Dividend Yield
0.19%
FCF Yield
2.82%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $1.94B | $143.00M | 7.4% |
| 2024 | $1.81B | $150.00M | 8.3% |
| 2023 | $1.70B | $158.00M | 9.3% |
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 | 6.93% |
| 2026-03-31 | 6.52% |
| 2025-12-31 | 7.28% |
| 2025-09-30 | 6.18% |
| 2025-06-30 | 6.69% |
| 2025-03-31 | 7.61% |
| 2024-12-31 | 8.13% |
| 2024-09-30 | 8.85% |
| 2024-06-30 | 8.92% |
| 2024-03-31 | 8.94% |
| 2023-12-31 | 9.30% |
| 2023-09-30 | 9.22% |
| 2023-06-30 | 9.24% |
| 2023-03-31 | 9.85% |
| 2022-12-31 | 7.79% |
| 2022-09-30 | 6.56% |
| 2022-06-30 | 4.69% |
| 2020-12-31 | 6.82% |
| 2020-09-30 | 9.21% |
| 2020-06-30 | 8.46% |
| 2020-03-31 | 17.76% |
| 2019-12-31 | 14.59% |
| 2019-09-30 | 13.06% |
| 2019-06-30 | 14.79% |
| 2019-03-31 | 14.83% |
| 2018-12-31 | 16.51% |
| 2018-09-30 | 18.44% |
| 2018-06-30 | 21.36% |
| 2018-03-31 | 21.40% |
| 2017-12-31 | 27.23% |
| 2017-09-30 | 27.36% |
| 2017-06-30 | 31.14% |
| 2017-03-31 | 35.64% |
| 2016-12-31 | 30.88% |
| 2016-09-30 | 30.98% |
| 2016-06-30 | 28.42% |
| 2016-03-31 | 20.41% |
| 2015-12-31 | 14.01% |
| 2015-09-30 | 6.51% |
| 2022 |
| $1.58B |
| $123.00M |
| 7.8% |
| 2021 | $30.00M | $0 | 0.0% |
| 2020 | $616.00M | $42.00M | 6.8% |
| 2019 | $1.18B | $172.00M | 14.6% |
| 2018 | $1.10B | $181.00M | 16.5% |
| 2017 | $716.00M | $195.00M | 27.2% |
| 2016 | $897.00M | $277.00M | 30.9% |
| 2015 | $985.00M | $138.00M | 14.0% |
| 2014 | $964.00M | $0 | 0.0% |
| 2013 | $1.73B | $0 | 0.0% |
| 2012 | $543.00M | $0 | 0.0% |
| 2011 | $632.00M | $0 | 0.0% |
| 2010 | $659.00M | $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.
