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 15.41% is 80% below its 5-year average of 75.17%, near the low end of its 5-year range (15.41%–472.09%).
As of the fiscal period ended Tuesday, June 30, 2026. 23.50% below its 12-month average of 20.14%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
15.41%
FCF PAYOUT RATIO AVG TTM
20.14%
FCF PAYOUT RATIO AVG 3Y
49.43%
FCF PAYOUT RATIO AVG 5Y
51.82%
FCF PAYOUT RATIO AVG 10Y
45.51%
FCF PAYOUT RATIO AVG 15Y
50.45%
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-23.50%
CURRENT VS 3Y AVG
-68.83%
CURRENT VS 5Y AVG
-70.27%
CURRENT VS 10Y AVG
-66.15%
CURRENT VS 15Y AVG
-69.46%
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
15.4%
Earnings Payout Ratio
29.1%
Dividend Yield
0.67%
FCF Yield
4.34%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $947.59M | $171.05M | 18.1% |
| 2024 | $617.78M | $175.54M | 28.4% |
| 2023 | ($117.81M) | $173.90M | N/A (Loss) |
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 | 15.41% |
| 2026-03-31 | 16.44% |
| 2025-12-31 | 18.05% |
| 2025-09-30 | 21.86% |
| 2025-06-30 | 28.94% |
| 2025-03-31 | 34.13% |
| 2024-12-31 | 28.41% |
| 2024-09-30 | 40.28% |
| 2024-06-30 | 85.39% |
| 2024-03-31 | 146.88% |
| 2023-06-30 | 107.96% |
| 2023-03-31 | 60.14% |
| 2022-12-31 | 70.62% |
| 2022-09-30 | 106.85% |
| 2022-06-30 | 472.09% |
| 2021-12-31 | 45.03% |
| 2021-09-30 | 28.22% |
| 2021-06-30 | 26.38% |
| 2021-03-31 | 20.64% |
| 2020-12-31 | 29.72% |
| 2020-09-30 | 29.83% |
| 2020-06-30 | 22.99% |
| 2020-03-31 | 33.65% |
| 2019-12-31 | 45.78% |
| 2019-09-30 | 53.57% |
| 2019-06-30 | 411.20% |
| 2019-03-31 | 359.24% |
| 2018-12-31 | 113.89% |
| 2018-09-30 | 80.39% |
| 2018-06-30 | 57.67% |
| 2018-03-31 | 51.86% |
| 2017-12-31 | 30.88% |
| 2017-09-30 | 30.40% |
| 2017-06-30 | 27.86% |
| 2017-03-31 | 39.21% |
| 2016-12-31 | 45.89% |
| 2016-09-30 | 49.76% |
| 2016-06-30 | 49.26% |
| 2016-03-31 | 44.23% |
| 2015-12-31 | 65.70% |
| 2015-09-30 | 111.37% |
| 2015-06-30 | 203.50% |
| 2013-12-31 | 65.26% |
| 2013-09-30 | 116.58% |
| 2013-06-30 | 57.90% |
| 2013-03-31 | 42.92% |
| 2012-12-31 | 76.86% |
| 2012-09-30 | 65.26% |
| 2012-06-30 | 56.85% |
| 2012-03-31 | 38.51% |
| 2011-12-31 | 46.66% |
| 2011-09-30 | 46.57% |
| 2011-06-30 | 39.42% |
| 2011-03-31 | 39.67% |
| 2010-12-31 | 36.17% |
| 2010-09-30 | 30.71% |
| 2010-06-30 | 50.11% |
| 2010-03-31 | 400.72% |
| 2009-09-30 | 275.78% |
| 2009-06-30 | 43.59% |
| 2009-03-31 | 29.57% |
| 2008-12-31 | 24.84% |
| 2022 |
| $236.09M |
| $166.72M |
| 70.6% |
| 2021 | $276.33M | $124.44M | 45.0% |
| 2020 | $384.31M | $114.23M | 29.7% |
| 2019 | $244.23M | $111.82M | 45.8% |
| 2018 | $92.19M | $104.99M | 113.9% |
| 2017 | $328.23M | $101.36M | 30.9% |
| 2016 | $215.71M | $98.99M | 45.9% |
| 2015 | $148.19M | $97.36M | 65.7% |
| 2014 | ($161.79M) | $93.60M | N/A (Loss) |
| 2013 | $80.92M | $52.81M | 65.3% |
| 2012 | $108.55M | $83.43M | 76.9% |
| 2011 | $133.41M | $62.24M | 46.7% |
| 2010 | $165.63M | $59.91M | 36.2% |
| 2009 | $3.77M | $55.69M | n/m |
| 2008 | $201.91M | $50.14M | 24.8% |
| 2007 | ($236.38M) | $48.85M | N/A (Loss) |
| 2006 | ($470.33M) | $47.73M | N/A (Loss) |
| 2005 | ($157.42M) | $37.95M | N/A (Loss) |
| 2004 | ($333.13M) | $7.29M | N/A (Loss) |
| 2003 | ($176.02M) | $0 | N/A (Loss) |
| 2002 | ($224.31M) | $0 | N/A (Loss) |
| 2001 | $5.38M | $0 | 0.0% |
| 2000 | ($199.92M) | $1.78M | N/A (Loss) |
| 1999 | ($99.42M) | $7.13M | N/A (Loss) |
| 1998 | ($388.16M) | $7.10M | N/A (Loss) |
| 1997 | ($103.35M) | $7.32M | N/A (Loss) |
| 1996 | ($178.61M) | $7.57M | 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.
