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 32.71% is 44% above its 5-year average of 22.68%, near the high end of its 5-year range (13.63%–38.44%).
As of the fiscal period ended Friday, March 27, 2026. 18.84% above its 12-month average of 27.52%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
32.71%
FCF PAYOUT RATIO AVG TTM
27.52%
FCF PAYOUT RATIO AVG 3Y
22.24%
FCF PAYOUT RATIO AVG 5Y
22.68%
FCF PAYOUT RATIO AVG 10Y
21.42%
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+18.84%
CURRENT VS 3Y AVG
+47.08%
CURRENT VS 5Y AVG
+44.19%
CURRENT VS 10Y AVG
+52.73%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
32.7%
Earnings Payout Ratio
56.9%
Dividend Yield
1.01%
FCF Yield
3.01%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $607.47M | $153.03M | 25.2% |
| 2024 | $933.56M | $142.78M | 15.3% |
| 2023 | $837.28M | $128.42M | 15.3% |
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 |
|---|---|
| 2026-03-27 | 32.71% |
| 2025-12-26 | 17.72% |
| 2025-09-26 | 25.19% |
| 2025-06-27 | 36.67% |
| 2025-03-28 | 25.32% |
| 2024-12-27 | 23.17% |
| 2024-09-27 | 15.29% |
| 2024-06-28 | 14.57% |
| 2024-03-29 | 16.96% |
| 2023-12-29 | 13.63% |
| 2023-09-30 | 15.34% |
| 2023-06-30 | 14.09% |
| 2023-03-31 | 38.44% |
| 2022-12-30 | 33.09% |
| 2022-09-30 | 33.41% |
| 2022-07-01 | 32.42% |
| 2022-04-01 | 14.25% |
| 2021-12-31 | 16.68% |
| 2021-09-30 | 21.20% |
| 2021-07-02 | 20.03% |
| 2021-04-02 | 16.19% |
| 2021-01-01 | 16.32% |
| 2020-09-30 | 20.91% |
| 2020-06-26 | 110.50% |
| 2019-03-29 | 37.94% |
| 2018-12-28 | 83.18% |
| 2018-09-30 | 22.41% |
| 2018-06-29 | 23.45% |
| 2018-03-30 | 25.85% |
| 2017-12-29 | 18.24% |
| 2017-09-30 | 11.87% |
| 2017-06-30 | 7.09% |
| 2017-03-31 | 3.46% |
| 2014-09-30 | 2.12% |
| 2014-06-27 | 3.39% |
| 2014-03-28 | 4.78% |
| 2013-12-27 | 3.22% |
| 2022 |
| $347.09M |
| $115.95M |
| 33.4% |
| 2021 | $633.46M | $111.60M | 17.6% |
| 2020 | $688.58M | $97.90M | 14.2% |
| 2019 | ($502.41M) | $90.84M | N/A (Loss) |
| 2018 | $386.27M | $81.88M | 21.2% |
| 2017 | $456.82M | $54.23M | 11.9% |
| 2016 | $602.46M | $0 | 0.0% |
| 2015 | $396.17M | $0 | 0.0% |
| 2014 | $589.57M | $0 | 0.0% |
| 2013 | $321.25M | $0 | 0.0% |
| 2012 | $197.23M | $0 | 0.0% |
| 2011 | $137.74M | $0 | 0.0% |
| 2010 | $147.90M | $0 | 0.0% |
| 2009 | $477.94M | $0 | 0.0% |
| 2008 | $198.63M | $0 | 0.0% |
| 2007 | $296.24M | $0 | 0.0% |
| 2006 | $169.55M | $0 | 0.0% |
| 2005 | $117.43M | $0 | 0.0% |
| 2004 | $50.65M | $0 | 0.0% |
| 2003 | $121.74M | $0 | 0.0% |
| 2002 | $123.58M | $0 | 0.0% |
| 2001 | ($13.69M) | $0 | N/A (Loss) |
| 2000 | $36.93M | $0 | 0.0% |
| 1999 | ($158.30M) | $0 | N/A (Loss) |
| 1998 | $44.20M | $0 | 0.0% |
| 1997 | $15.90M | $0 | 0.0% |
| 1996 | $37.60M | $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.
