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 23.17% is 36% below its 5-year average of 36.26%, near the low end of its 5-year range (17.68%–189.87%).
As of the fiscal period ended Tuesday, June 30, 2026. 3.39% below its 12-month average of 23.98%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted. Q2 FY2026 (2026-06-30): 23.17%.
FCF PAYOUT RATIO
23.17%
FCF PAYOUT RATIO AVG TTM
23.98%
FCF PAYOUT RATIO AVG 3Y
44.99%
FCF PAYOUT RATIO AVG 5Y
36.26%
FCF PAYOUT RATIO AVG 10Y
105.23%
FCF PAYOUT RATIO AVG 15Y
137.79%
FCF PAYOUT RATIO AVG 20Y
128.26%
CURRENT VS TTM AVG
-3.39%
CURRENT VS 3Y AVG
-48.50%
CURRENT VS 5Y AVG
-36.11%
CURRENT VS 10Y AVG
-77.98%
CURRENT VS 15Y AVG
-83.19%
CURRENT VS 20Y AVG
-81.94%
FCF Payout Ratio TTM
23.2%
Earnings Payout Ratio
31.6%
Dividend Yield
1.67%
FCF Yield
7.23%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $211.30M | $47.90M | 22.7% |
| 2024 | $334.15M | $46.76M | 14.0% |
| 2023 | ($178.32M) | $45.56M | 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 |
|---|---|
| 2026-06-30 | 23.17% |
| 2026-03-31 | 24.68% |
| 2025-12-31 | 22.67% |
| 2025-09-30 | 31.71% |
| 2025-06-30 | 17.68% |
| 2025-03-31 | 19.83% |
| 2024-12-31 | 32.72% |
| 2024-09-30 | 187.45% |
| 2022-09-30 | 166.31% |
| 2022-06-30 | 189.87% |
| 2022-03-31 | 63.47% |
| 2021-12-31 | 53.45% |
| 2021-09-30 | 60.39% |
| 2021-06-30 | 49.09% |
| 2021-03-31 | 44.52% |
| 2020-12-31 | 49.43% |
| 2020-09-30 | 62.84% |
| 2020-06-30 | 85.84% |
| 2020-03-31 | 642.93% |
| 2019-12-31 | 432.82% |
| 2019-09-30 | 491.38% |
| 2019-06-30 | 268.67% |
| 2019-03-31 | 356.07% |
| 2018-12-31 | 786.85% |
| 2018-09-30 | 163.75% |
| 2018-06-30 | 328.23% |
| 2018-03-31 | 186.32% |
| 2017-12-31 | 188.55% |
| 2017-09-30 | 159.68% |
| 2017-06-30 | 91.00% |
| 2017-03-31 | 60.68% |
| 2016-12-31 | 46.86% |
| 2016-09-30 | 50.48% |
| 2016-06-30 | 71.39% |
| 2016-03-31 | 136.80% |
| 2015-12-31 | 614.66% |
| 2013-09-30 | 467.09% |
| 2013-06-30 | 754.80% |
| 2010-03-31 | 51.43% |
| 2009-12-31 | 41.02% |
| 2009-09-30 | 49.59% |
| 2009-06-30 | 46.97% |
| 2009-03-31 | 529.00% |
| 2004-03-31 | 116.54% |
| 2003-12-31 | 83.77% |
| 2003-09-30 | 64.15% |
| 2003-06-30 | 29.30% |
| 2022 |
| ($10.87M) |
| $44.27M |
| N/A (Loss) |
| 2021 | $78.92M | $42.18M | 53.4% |
| 2020 | $80.45M | $39.77M | 49.4% |
| 2019 | $8.21M | $35.54M | 432.8% |
| 2018 | $3.93M | $30.94M | 786.9% |
| 2017 | $13.19M | $24.88M | 188.6% |
| 2016 | $52.17M | $24.45M | 46.9% |
| 2015 | $4.19M | $25.78M | 614.7% |
| 2014 | ($41.95M) | $25.55M | N/A (Loss) |
| 2013 | ($10.94M) | $24.42M | N/A (Loss) |
| 2012 | ($19.59M) | $23.13M | N/A (Loss) |
| 2011 | ($42.86M) | $22.25M | N/A (Loss) |
| 2010 | ($34.30M) | $21.39M | N/A (Loss) |
| 2009 | $49.77M | $20.41M | 41.0% |
| 2008 | ($10.64M) | $18.57M | N/A (Loss) |
| 2007 | ($19.60M) | $17.67M | N/A (Loss) |
| 2006 | ($15.05M) | $15.46M | N/A (Loss) |
| 2005 | ($34.16M) | $13.07M | N/A (Loss) |
| 2004 | ($4.78M) | $10.46M | N/A (Loss) |
| 2003 | $11.33M | $9.49M | 83.8% |
| 2002 | $32.84M | $8.47M | 25.8% |
| 2001 | $10.45M | $7.58M | 72.5% |
| 2000 | ($20.85M) | $6.67M | N/A (Loss) |
| 1999 | $3.60M | $6.10M | 169.4% |
| 1998 | $0.50M | $5.40M | n/m |
| 1997 | ($13.70M) | $4.60M | N/A (Loss) |
| 1996 | ($16.20M) | $4.10M | 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.
