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 12.50% is 79% below its 5-year average of 60.54%, near the low end of its 5-year range (7.17%–581.81%).
As of the fiscal period ended Tuesday, March 31, 2026. 24.73% below its 12-month average of 16.61%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
12.50%
FCF PAYOUT RATIO AVG TTM
16.61%
FCF PAYOUT RATIO AVG 3Y
15.41%
FCF PAYOUT RATIO AVG 5Y
23.84%
FCF PAYOUT RATIO AVG 10Y
26.89%
FCF PAYOUT RATIO AVG 15Y
26.46%
FCF PAYOUT RATIO AVG 20Y
26.00%
CURRENT VS TTM AVG
-24.73%
CURRENT VS 3Y AVG
-18.90%
CURRENT VS 5Y AVG
-47.56%
CURRENT VS 10Y AVG
-53.51%
CURRENT VS 15Y AVG
-52.76%
CURRENT VS 20Y AVG
-51.93%
FCF Payout Ratio TTM
12.5%
Earnings Payout Ratio
17.8%
Dividend Yield
1.07%
FCF Yield
5.83%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $528.56M | $60.68M | 11.5% |
| 2024 | $265.68M | $41.80M | 15.7% |
| 2023 | $169.11M | $39.45M | 23.3% |
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 |
|---|---|
| 2026-03-31 | 12.50% |
| 2025-12-31 | 12.10% |
| 2025-09-30 | 8.97% |
| 2025-06-30 | 16.96% |
| 2025-03-31 | 32.50% |
| 2024-12-31 | 20.04% |
| 2024-09-30 | 581.81% |
| 2024-06-30 | 16.45% |
| 2024-03-31 | 15.92% |
| 2023-12-31 | 23.33% |
| 2023-09-30 | 7.17% |
| 2023-06-30 | 18.26% |
| 2023-03-31 | 17.84% |
| 2022-12-31 | 17.39% |
| 2022-06-30 | 56.17% |
| 2022-03-31 | 51.27% |
| 2021-12-31 | 46.68% |
| 2021-09-30 | 108.87% |
| 2021-06-30 | 114.77% |
| 2021-03-31 | 31.71% |
| 2020-12-31 | 35.58% |
| 2020-09-30 | 36.21% |
| 2020-06-30 | 28.69% |
| 2020-03-31 | 75.94% |
| 2019-12-31 | 86.66% |
| 2019-06-30 | 98.32% |
| 2019-03-31 | 61.40% |
| 2018-12-31 | 44.10% |
| 2018-09-30 | 13.64% |
| 2018-06-30 | 16.14% |
| 2018-03-31 | 14.86% |
| 2017-12-31 | 15.51% |
| 2017-09-30 | 14.10% |
| 2017-06-30 | 21.14% |
| 2017-03-31 | 9.78% |
| 2016-12-31 | 8.04% |
| 2016-09-30 | 11.45% |
| 2016-06-30 | 11.04% |
| 2016-03-31 | 31.54% |
| 2015-12-31 | 47.41% |
| 2015-09-30 | 116.14% |
| 2015-06-30 | 16.86% |
| 2015-03-31 | 16.83% |
| 2014-12-31 | 13.43% |
| 2014-09-30 | 19.04% |
| 2014-03-31 | 19.48% |
| 2013-12-31 | 8.00% |
| 2013-09-30 | 166.69% |
| 2013-06-30 | 19.97% |
| 2013-03-31 | 35.13% |
| 2012-12-31 | 63.80% |
| 2012-09-30 | 7.06% |
| 2011-03-31 | 35.67% |
| 2010-12-31 | 4.37% |
| 2004-09-30 | 0.06% |
| 2004-06-30 | 0.09% |
| 2004-03-31 | 0.05% |
| 2003-12-31 | 0.06% |
| 2003-09-30 | 0.03% |
| 2003-06-30 | 0.33% |
| 2003-03-31 | 2.57% |
| 2022 |
| $243.29M |
| $42.31M |
| 17.4% |
| 2021 | $90.84M | $43.06M | 47.4% |
| 2020 | $121.06M | $43.07M | 35.6% |
| 2019 | $51.44M | $44.58M | 86.7% |
| 2018 | $109.90M | $48.47M | 44.1% |
| 2017 | $278.80M | $43.26M | 15.5% |
| 2016 | $387.34M | $31.14M | 8.0% |
| 2015 | $61.03M | $28.94M | 47.4% |
| 2014 | $176.69M | $23.73M | 13.4% |
| 2013 | $154.51M | $12.35M | 8.0% |
| 2012 | $130.22M | $83.08M | 63.8% |
| 2011 | ($65.34M) | $18.15M | N/A (Loss) |
| 2010 | $103.59M | $0 | 0.0% |
| 2009 | $284.27M | $0 | 0.0% |
| 2008 | $44.99M | $0 | 0.0% |
| 2007 | $90.61M | $0 | 0.0% |
| 2006 | $282.09M | $0 | 0.0% |
| 2005 | $28.30M | $0 | 0.0% |
| 2004 | $44.48M | $0.04M | 0.1% |
| 2003 | $55.63M | $0.08M | 0.1% |
| 2002 | ($9.15M) | $0.09M | N/A (Loss) |
| 2001 | $1.83M | $0.09M | 5.1% |
| 2000 | ($2.27M) | $0.07M | N/A (Loss) |
| 1999 | $22.31M | $0.17M | 0.8% |
| 1998 | $28.30M | $0.20M | 0.7% |
| 1997 | ($27.30M) | $0 | N/A (Loss) |
| 1996 | ($17.40M) | $0.20M | 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.
