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 13.03% is 26% above its 5-year average of 10.37%, near the high end of its 5-year range (3.30%–15.50%).
As of the fiscal period ended Tuesday, March 31, 2026. 8.26% below its 12-month average of 14.20%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
13.03%
FCF PAYOUT RATIO AVG TTM
14.20%
FCF PAYOUT RATIO AVG 3Y
11.62%
FCF PAYOUT RATIO AVG 5Y
10.47%
FCF PAYOUT RATIO AVG 10Y
10.72%
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-8.26%
CURRENT VS 3Y AVG
+12.18%
CURRENT VS 5Y AVG
+24.44%
CURRENT VS 10Y AVG
+21.53%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
13.0%
Earnings Payout Ratio
12.9%
Dividend Yield
0.17%
FCF Yield
1.24%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $1.43B | $181.00M | 12.6% |
| 2024 | $977.00M | $109.00M | 11.2% |
| 2023 | $682.00M | $73.00M | 10.7% |
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 | 13.03% |
| 2025-12-31 | 14.96% |
| 2025-09-30 | 15.50% |
| 2025-06-30 | 14.73% |
| 2025-03-31 | 12.80% |
| 2024-12-31 | 11.16% |
| 2024-09-30 | 9.68% |
| 2024-06-30 | 8.23% |
| 2024-03-31 | 9.41% |
| 2023-12-31 | 10.70% |
| 2023-09-30 | 10.01% |
| 2023-06-30 | 10.52% |
| 2023-03-31 | 10.28% |
| 2022-12-31 | 8.15% |
| 2022-09-30 | 9.41% |
| 2022-06-30 | 9.76% |
| 2022-03-31 | 9.21% |
| 2021-12-31 | 8.00% |
| 2021-09-30 | 11.61% |
| 2021-06-30 | 3.30% |
| 2021-03-31 | 7.32% |
| 2017-03-31 | 939.13% |
| 2016-03-31 | 39.86% |
| 2015-12-31 | 13.43% |
| 2015-09-30 | 13.85% |
| 2015-06-30 | 22.69% |
| 2015-03-31 | 163.64% |
| 2022 |
| $540.00M |
| $44.00M |
| 8.1% |
| 2021 | $250.00M | $19.00M | 7.6% |
| 2020 | ($258.00M) | $11.00M | N/A (Loss) |
| 2019 | ($180.00M) | $57.00M | N/A (Loss) |
| 2018 | ($551.00M) | $119.00M | N/A (Loss) |
| 2017 | $105.00M | $162.00M | 154.3% |
| 2016 | ($252.00M) | $228.00M | N/A (Loss) |
| 2015 | $402.00M | $223.00M | 55.5% |
| 2014 | $455.00M | $161.00M | 35.4% |
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.
