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 38.24% is 13% above its 4-year average of 33.99%, around the middle of its 4-year range (7.53%–55.65%).
As of the fiscal period ended Tuesday, March 31, 2026. 13.09% below its 12-month average of 44.00%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
38.24%
FCF PAYOUT RATIO AVG TTM
44.00%
FCF PAYOUT RATIO AVG 3Y
38.19%
FCF PAYOUT RATIO AVG 5Y
N/A
FCF PAYOUT RATIO AVG 10Y
N/A
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-13.09%
CURRENT VS 3Y AVG
+0.13%
CURRENT VS 5Y AVG
N/A
CURRENT VS 10Y AVG
N/A
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
38.2%
Earnings Payout Ratio
51.1%
Dividend Yield
4.52%
FCF Yield
11.89%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $847.00M | $310.00M | 36.6% |
| 2024 | $810.00M | $318.00M | 39.3% |
| 2023 | $998.00M | $302.00M | 30.3% |
| 2022 | $1.03B | $284.00M | 27.6% |
| 2021 | $1.07B | $0 | 0.0% |
| 2020 | $1.27B | $0 | 0.0% |
| 2019 | $798.30M | $0 | 0.0% |
| 2018 | $460.71M | $0 | 0.0% |
| 2017 | $339.81M | $0 | 0.0% |
| 2016 | $427.94M | $0 | 0.0% |
| 2015 | $359.35M | $0 | 0.0% |
| 2014 | $229.95M | $0 | 0.0% |
| 2013 | $337.87M | $0 | 0.0% |
| 2012 | $117.94M | $0 | 0.0% |
| 2011 | $125.36M | $0 | 0.0% |
| 2010 | $97.75M | $0 | 0.0% |
| 2009 | $108.13M | $0 | 0.0% |
| 2008 | $66.05M | $0 | 0.0% |
| 2007 | $15.97M | $0 | 0.0% |
| 2006 | $16.23M | $0 | 0.0% |
| 2005 | $11.31M | $0 | 0.0% |
| 2004 | $0.23M | $0 | 0.0% |
| 2003 | $11.85M | $0 | 0.0% |
| 2002 | $10.89M | $0 | 0.0% |
| 2001 | $8.70M | $0 | 0.0% |
| 2000 | ($3.38M) | $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 | 38.24% |
| 2025-12-31 | 36.60% |
| 2025-09-30 | 43.21% |
| 2025-06-30 | 46.30% |
| 2025-03-31 | 55.65% |
| 2024-12-31 | 39.26% |
| 2024-09-30 | 42.78% |
| 2024-06-30 | 41.94% |
| 2024-03-31 | 29.94% |
| 2023-12-31 | 30.26% |
| 2023-09-30 | 27.48% |
| 2023-06-30 | 30.30% |
| 2023-03-31 | 34.54% |
| 2022-12-31 | 27.63% |
| 2022-09-30 | 29.73% |
| 2022-06-30 | 16.39% |
| 2022-03-31 | 7.53% |
