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 62.96% is 73% above its 5-year average of 36.32%, near the high end of its 5-year range (14.08%–62.96%).
As of the fiscal period ended Tuesday, March 31, 2026. 19.10% above its 12-month average of 52.86%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
62.96%
FCF PAYOUT RATIO AVG TTM
52.86%
FCF PAYOUT RATIO AVG 3Y
43.66%
FCF PAYOUT RATIO AVG 5Y
36.32%
FCF PAYOUT RATIO AVG 10Y
32.12%
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+19.10%
CURRENT VS 3Y AVG
+44.18%
CURRENT VS 5Y AVG
+73.33%
CURRENT VS 10Y AVG
+96.02%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
63.0%
Earnings Payout Ratio
80.6%
Dividend Yield
2.87%
FCF Yield
4.57%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $46.80M | $27.49M | 58.7% |
| 2024 | $79.30M | $28.24M | 35.6% |
| 2023 | $83.70M | $27.56M | 32.9% |
| 2022 | $82.70M | $24.03M | 29.1% |
| 2021 | $66.46M | $20.12M | 30.3% |
| 2020 | $102.68M | $16.79M | 16.3% |
| 2019 | $56.26M | $16.61M | 29.5% |
| 2018 | $82.55M | $14.87M | 18.0% |
| 2017 | $23.49M | $12.14M | 51.7% |
| 2016 | $27.03M | $12.45M | 46.1% |
| 2015 | $61.85M | $12.54M | 20.3% |
| 2014 | ($31.59M) | $12.78M | N/A (Loss) |
| 2013 | ($7.68M) | $3.30M | N/A (Loss) |
| 2012 | $50.13M | $35.20M | 70.2% |
| 2011 | $24.75M | $0 | 0.0% |
| 2010 | ($9.16M) | $0 | N/A (Loss) |
| 2009 | $38.85M | $0 | 0.0% |
| 2008 | $80.82M | $0 | 0.0% |
| 2007 | $37.35M | $0 | 0.0% |
| 2006 | $45.52M | $0 | 0.0% |
| 2005 | $43.84M | $0 | 0.0% |
| 2004 | $2.73M | $0 | 0.0% |
| 2003 | $11.73M | $0 | 0.0% |
| 2002 | $14.25M | $0 | 0.0% |
| 2001 | $34.53M | $0 | 0.0% |
| 2000 | $21.90M | $0 | 0.0% |
| 1999 | ($49.50M) | $0 | N/A (Loss) |
| 1998 | ($24.50M) | $0 | N/A (Loss) |
| 1997 | $1.30M | $0 | 0.0% |
| 1996 | ($3.20M) | $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 |
|---|---|
| 2026-03-31 | 62.96% |
| 2025-12-31 | 58.74% |
| 2025-09-30 | 52.47% |
| 2025-06-30 | 46.21% |
| 2025-03-31 | 43.93% |
| 2024-12-31 | 35.61% |
| 2024-09-30 | 36.22% |
| 2024-06-30 | 36.00% |
| 2024-03-31 | 35.58% |
| 2023-12-31 | 32.93% |
| 2023-09-30 | 36.95% |
| 2023-06-30 | 50.69% |
| 2023-03-31 | 39.36% |
| 2022-12-31 | 29.05% |
| 2022-09-30 | 27.60% |
| 2022-06-30 | 22.75% |
| 2022-03-31 | 26.16% |
| 2021-12-31 | 30.28% |
| 2021-09-30 | 27.53% |
| 2021-06-30 | 17.66% |
| 2021-03-31 | 14.08% |
| 2020-12-31 | 16.35% |
| 2020-09-30 | 15.56% |
| 2020-06-30 | 22.35% |
| 2020-03-31 | 35.10% |
| 2019-12-31 | 29.52% |
| 2019-09-30 | 28.34% |
| 2019-06-30 | 26.87% |
| 2019-03-31 | 19.39% |
| 2018-12-31 | 18.01% |
| 2018-09-30 | 15.99% |
| 2018-06-30 | 20.90% |
| 2018-03-31 | 26.81% |
| 2017-12-31 | 51.69% |
| 2017-09-30 | 166.19% |
| 2017-06-30 | 77.66% |
| 2017-03-31 | 98.86% |
| 2016-12-31 | 46.05% |
| 2016-09-30 | 36.91% |
| 2016-06-30 | 24.35% |
| 2016-03-31 | 23.47% |
| 2015-12-31 | 20.28% |
| 2015-09-30 | 73.51% |
| 2014-06-30 | 143.91% |
| 2014-03-31 | 89.50% |
| 2013-09-30 | 143.31% |
| 2013-06-30 | 88.36% |
| 2013-03-31 | 91.92% |
| 2012-12-31 | 70.21% |
