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 43.08% is in line with its 5-year average of 45.92%, near the low end of its 5-year range (32.97%–374.47%).
As of the fiscal period ended Monday, March 31, 2025. 12.46% below its 12-month average of 49.21%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted. Q1 FY2025 (2025-03-31): 43.08%.
FCF PAYOUT RATIO
43.08%
FCF PAYOUT RATIO AVG TTM
49.21%
FCF PAYOUT RATIO AVG 3Y
78.59%
FCF PAYOUT RATIO AVG 5Y
45.92%
FCF PAYOUT RATIO AVG 10Y
36.55%
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-12.46%
CURRENT VS 3Y AVG
-45.19%
CURRENT VS 5Y AVG
-6.19%
CURRENT VS 10Y AVG
+17.87%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
43.1%
Earnings Payout Ratio
N/A
Dividend Yield
N/A
FCF Yield
5.05%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2024 | $672.60M | $288.60M | 42.9% |
| 2023 | $713.40M | $280.80M | 39.4% |
| 2022 | ($7.50M) | $270.40M | 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 |
|---|---|
| 2025-03-31 | 43.08% |
| 2024-12-31 | 42.91% |
| 2024-09-30 | 72.62% |
| 2024-06-30 | 54.46% |
| 2024-03-31 | 32.97% |
| 2023-12-31 | 39.36% |
| 2023-09-30 | 33.60% |
| 2023-06-30 | 48.69% |
| 2022-06-30 | 374.47% |
| 2022-03-31 | 43.73% |
| 2021-12-31 | 43.94% |
| 2021-09-30 | 43.68% |
| 2021-06-30 | 45.09% |
| 2021-03-31 | 62.62% |
| 2020-12-31 | 51.62% |
| 2020-09-30 | 53.64% |
| 2020-06-30 | 47.11% |
| 2020-03-31 | 48.20% |
| 2019-12-31 | 62.03% |
| 2019-09-30 | 49.22% |
| 2019-06-30 | 47.03% |
| 2019-03-31 | 41.12% |
| 2018-12-31 | 34.93% |
| 2018-09-30 | 32.06% |
| 2018-06-30 | 28.86% |
| 2018-03-31 | 21.16% |
| 2017-12-31 | 13.56% |
| 2017-09-30 | 12.32% |
| 2017-06-30 | 12.05% |
| 2017-03-31 | 11.88% |
| 2016-12-31 | 17.11% |
| 2016-09-30 | 22.76% |
| 2016-06-30 | 22.09% |
| 2016-03-31 | 24.40% |
| 2015-12-31 | 22.91% |
| 2015-09-30 | 18.64% |
| 2015-06-30 | 32.04% |
| 2015-03-31 | 18.73% |
| 2014-12-31 | 75.81% |
| 2014-09-30 | 58.30% |
| 2014-06-30 | 37.46% |
| 2014-03-31 | 46.49% |
| 2013-12-31 | 0.23% |
| 2013-09-30 | 0.02% |
| 2013-06-30 | 0.03% |
| 2013-03-31 | 0.05% |
| 2012-12-31 | 0.03% |
| 2021 |
| $589.70M |
| $259.10M |
| 43.9% |
| 2020 | $511.60M | $264.10M | 51.6% |
| 2019 | $419.30M | $260.10M | 62.0% |
| 2018 | $713.70M | $249.30M | 34.9% |
| 2017 | $1.11B | $150.40M | 13.6% |
| 2016 | $891.30M | $152.50M | 17.1% |
| 2015 | $682.20M | $156.30M | 22.9% |
| 2014 | $570.50M | $86.00M | 15.1% |
| 2013 | $599.20M | $0 | 0.0% |
| 2012 | $228.40M | $0 | 0.0% |
| 2011 | $720.41M | $0 | 0.0% |
| 2010 | $627.04M | $0 | 0.0% |
| 2009 | $643.00M | $0 | 0.0% |
| 2008 | $710.58M | $0 | 0.0% |
| 2007 | $639.66M | $0 | 0.0% |
| 2006 | $653.51M | $0 | 0.0% |
| 2005 | $544.75M | $0 | 0.0% |
| 2004 | $376.26M | $0 | 0.0% |
| 2003 | $159.17M | $0 | 0.0% |
| 2002 | ($33.72M) | $0 | N/A (Loss) |
| 2001 | $51.63M | $0 | 0.0% |
| 2000 | $234.08M | $0 | 0.0% |
| 1999 | $10.50M | $0 | 0.0% |
| 1998 | ($31.30M) | $0 | 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.
