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 10.66% is in line with its 5-year average of 10.58%, around the middle of its 5-year range (3.82%–24.53%).
As of the fiscal period ended Tuesday, March 31, 2026. 4.91% below its 12-month average of 11.21%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
10.66%
FCF PAYOUT RATIO AVG TTM
11.21%
FCF PAYOUT RATIO AVG 3Y
11.13%
FCF PAYOUT RATIO AVG 5Y
9.89%
FCF PAYOUT RATIO AVG 10Y
11.48%
FCF PAYOUT RATIO AVG 15Y
17.73%
FCF PAYOUT RATIO AVG 20Y
29.96%
CURRENT VS TTM AVG
-4.91%
CURRENT VS 3Y AVG
-4.19%
CURRENT VS 5Y AVG
+7.82%
CURRENT VS 10Y AVG
-7.13%
CURRENT VS 15Y AVG
-39.88%
CURRENT VS 20Y AVG
-64.42%
FCF Payout Ratio TTM
10.7%
Earnings Payout Ratio
10.3%
Dividend Yield
0.68%
FCF Yield
6.49%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $153.70M | $44.90M | 29.2% |
| 2024 | $457.70M | $44.80M | 9.8% |
| 2023 | $262.10M | $45.00M | 17.2% |
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 | 10.66% |
| 2025-12-31 | 12.05% |
| 2025-09-30 | 13.46% |
| 2025-06-30 | 10.41% |
| 2025-03-31 | 9.46% |
| 2024-12-31 | 9.80% |
| 2024-09-30 | 9.76% |
| 2024-06-30 | 12.37% |
| 2024-03-31 | 24.53% |
| 2023-12-31 | 17.17% |
| 2023-09-30 | 15.21% |
| 2023-06-30 | 7.97% |
| 2023-03-31 | 5.19% |
| 2022-12-31 | 4.52% |
| 2022-09-30 | 3.82% |
| 2022-06-30 | 4.48% |
| 2022-03-31 | 6.08% |
| 2021-12-31 | 6.97% |
| 2021-09-30 | 10.42% |
| 2021-06-30 | 14.15% |
| 2021-03-31 | 13.80% |
| 2020-12-31 | 16.51% |
| 2020-09-30 | 43.37% |
| 2019-06-30 | 224.07% |
| 2016-09-30 | 107.38% |
| 2016-06-30 | 31.76% |
| 2016-03-31 | 25.22% |
| 2015-12-31 | 17.35% |
| 2015-09-30 | 15.41% |
| 2015-06-30 | 14.89% |
| 2015-03-31 | 18.83% |
| 2014-12-31 | 20.83% |
| 2014-09-30 | 24.98% |
| 2014-06-30 | 23.12% |
| 2014-03-31 | 17.32% |
| 2013-12-31 | 16.70% |
| 2013-09-30 | 34.66% |
| 2013-06-30 | 40.67% |
| 2013-03-31 | 72.18% |
| 2012-12-31 | 318.85% |
| 2012-09-30 | 201.79% |
| 2012-06-30 | 375.38% |
| 2012-03-31 | 278.48% |
| 2011-12-31 | 172.31% |
| 2011-09-30 | 336.94% |
| 2011-06-30 | 177.10% |
| 2011-03-31 | 162.50% |
| 2010-12-31 | 94.55% |
| 2010-09-30 | 69.33% |
| 2010-06-30 | 72.22% |
| 2010-03-31 | 58.43% |
| 2009-12-31 | 61.90% |
| 2009-09-30 | 49.06% |
| 2009-06-30 | 59.77% |
| 2009-03-31 | 98.11% |
| 2008-12-31 | 30.72% |
| 2008-09-30 | 46.73% |
| 2008-06-30 | 42.02% |
| 2008-03-31 | 51.58% |
| 2006-06-30 | 526.32% |
| 2005-12-31 | 82.98% |
| 2005-09-30 | 69.64% |
| 2005-03-31 | 216.67% |
| 2004-12-31 | 172.73% |
| 2003-06-30 | 49.85% |
| 2003-03-31 | 68.32% |
| 2022 |
| $1.06B |
| $48.00M |
| 4.5% |
| 2021 | $658.80M | $45.90M | 7.0% |
| 2020 | $237.50M | $39.20M | 16.5% |
| 2019 | ($61.50M) | $37.20M | N/A (Loss) |
| 2018 | ($96.20M) | $35.40M | N/A (Loss) |
| 2017 | ($82.30M) | $33.80M | N/A (Loss) |
| 2016 | ($21.60M) | $32.20M | N/A (Loss) |
| 2015 | $177.50M | $30.80M | 17.4% |
| 2014 | $137.80M | $28.70M | 20.8% |
| 2013 | $160.50M | $26.80M | 16.7% |
| 2012 | $26.00M | $39.50M | 151.9% |
| 2011 | $19.00M | $53.00M | 278.9% |
| 2010 | $55.00M | $52.00M | 94.5% |
| 2009 | $84.00M | $52.00M | 61.9% |
| 2008 | $166.00M | $51.00M | 30.7% |
| 2007 | $2.00M | $48.00M | n/m |
| 2006 | ($175.00M) | $42.00M | N/A (Loss) |
| 2005 | $47.00M | $39.00M | 83.0% |
| 2004 | $22.00M | $38.00M | 172.7% |
| 2003 | ($78.00M) | $37.00M | N/A (Loss) |
| 2002 | $11.04M | $37.00M | 335.1% |
| 2001 | $51.78M | $36.49M | 70.5% |
| 2000 | ($86.82M) | $36.78M | N/A (Loss) |
| 1999 | $39.49M | $38.90M | 98.5% |
| 1998 | ($80.06M) | $40.32M | N/A (Loss) |
| 1997 | $132.67M | $39.79M | 30.0% |
| 1996 | ($65.62M) | $39.86M | 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.
