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 24.50% is 12% above its 5-year average of 21.97%, around the middle of its 5-year range (16.21%–32.41%).
As of the fiscal period ended Saturday, July 4, 2026. 28.49% above its 12-month average of 19.06%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
24.50%
FCF PAYOUT RATIO AVG TTM
19.06%
FCF PAYOUT RATIO AVG 3Y
22.46%
FCF PAYOUT RATIO AVG 5Y
21.97%
FCF PAYOUT RATIO AVG 10Y
20.97%
FCF PAYOUT RATIO AVG 15Y
20.81%
FCF PAYOUT RATIO AVG 20Y
18.84%
CURRENT VS TTM AVG
+28.49%
CURRENT VS 3Y AVG
+9.05%
CURRENT VS 5Y AVG
+11.50%
CURRENT VS 10Y AVG
+16.80%
CURRENT VS 15Y AVG
+17.72%
CURRENT VS 20Y AVG
+30.05%
FCF Payout Ratio TTM
24.5%
Earnings Payout Ratio
20.6%
Dividend Yield
1.78%
FCF Yield
7.37%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $482.00M | $84.00M | 17.4% |
| 2025 | $385.00M | $79.00M | 20.5% |
| 2023 | $251.00M | $72.00M | 28.7% |
| 2022 | $325.00M | $66.00M | 20.3% |
| 2021 | $248.00M | $61.00M | 24.6% |
| 2020 | $347.00M | $54.00M | 15.6% |
| 2019 | $236.00M | $46.00M | 19.5% |
| 2018 | $148.00M | $44.00M | 29.7% |
| 2017 | $185.00M | $45.00M | 24.3% |
| 2016 | $50.00M | $46.00M | 92.0% |
| 2015 | $37.00M | $47.00M | 127.0% |
| 2014 | $117.00M | $47.00M | 40.2% |
| 2013 | $219.00M | $36.00M | 16.4% |
| 2012 | $67.00M | $37.00M | 55.2% |
| 2011 | $567.00M | $30.00M | 5.3% |
| 2010 | $483.00M | $32.00M | 6.6% |
| 2009 | ($77.00M) | $32.00M | N/A (Loss) |
| 2008 | $87.00M | $53.00M | 60.9% |
| 2007 | $205.00M | $35.00M | 17.1% |
| 2006 | $874.00M | $0 | 0.0% |
| 2005 | $451.00M | $0 | 0.0% |
| 2004 | ($135.00M) | $0 | N/A (Loss) |
| 2002 | $0.00M | $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.
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 |
|---|---|
| 2026-07-04 | 24.50% |
| 2026-04-03 | 17.38% |
| 2026-01-02 | 17.18% |
| 2025-10-03 | 17.47% |
| 2025-07-04 | 18.79% |
| 2025-04-04 | 19.01% |
| 2025-01-03 | 19.95% |
| 2024-09-27 | 17.65% |
| 2024-06-28 | 31.93% |
| 2024-03-29 | 24.58% |
| 2023-12-29 | 28.69% |
| 2023-09-29 | 32.41% |
| 2023-06-30 | 18.16% |
| 2023-03-31 | 25.97% |
| 2022-12-31 | 20.31% |
| 2022-09-30 | 22.34% |
| 2022-06-30 | 20.66% |
| 2022-03-31 | 21.60% |
| 2021-12-31 | 24.60% |
| 2021-09-30 | 16.21% |
| 2021-06-30 | 17.11% |
| 2021-03-31 | 16.19% |
| 2020-12-31 | 15.56% |
| 2020-09-30 | 18.31% |
| 2020-06-30 | 15.96% |
| 2020-03-31 | 20.09% |
| 2019-12-31 | 19.49% |
| 2019-09-30 | 13.92% |
| 2019-06-30 | 16.30% |
| 2019-03-31 | 13.21% |
| 2018-12-31 | 29.73% |
| 2018-03-31 | 26.83% |
| 2017-12-31 | 24.32% |
| 2017-09-30 | 16.31% |
| 2017-06-30 | 16.91% |
| 2016-12-31 | 92.00% |
| 2016-09-30 | 35.38% |
| 2016-06-30 | 29.01% |
| 2016-03-31 | 37.70% |
| 2015-12-31 | 127.03% |
| 2015-03-31 | 117.50% |
| 2014-12-31 | 40.17% |
| 2014-09-30 | 14.69% |
| 2014-06-30 | 14.33% |
| 2014-03-31 | 16.38% |
| 2013-12-31 | 16.98% |
| 2013-09-30 | 25.16% |
| 2013-06-30 | 188.89% |
| 2013-03-31 | 38.96% |
| 2012-12-31 | 55.22% |
| 2012-09-30 | 11.28% |
| 2012-06-30 | 9.90% |
| 2012-03-31 | 11.84% |
| 2011-12-31 | 5.29% |
| 2011-09-30 | 13.66% |
| 2011-06-30 | 12.60% |
| 2011-03-31 | 3.57% |
| 2010-12-31 | 6.91% |
| 2010-09-30 | 7.05% |
| 2010-06-30 | 7.35% |
| 2010-03-31 | 65.08% |
| 2009-09-30 | 96.88% |
| 2009-06-30 | 19.01% |
| 2008-12-31 | 60.92% |
| 2008-09-30 | 133.33% |
| 2008-03-31 | 15.71% |
| 2007-12-31 | 23.90% |
| 2007-09-30 | 9.66% |
| 2007-06-30 | 1.69% |
| 2007-03-31 | 1.10% |
