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 13.88% is 11% above its 5-year average of 12.49%, near the low end of its 5-year range (8.41%–27.57%).
As of the fiscal period ended Tuesday, June 30, 2026. 8.23% above its 12-month average of 12.82%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
13.88%
FCF PAYOUT RATIO AVG TTM
12.82%
FCF PAYOUT RATIO AVG 3Y
16.95%
FCF PAYOUT RATIO AVG 5Y
12.49%
FCF PAYOUT RATIO AVG 10Y
14.71%
FCF PAYOUT RATIO AVG 15Y
19.32%
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+8.23%
CURRENT VS 3Y AVG
-18.13%
CURRENT VS 5Y AVG
+11.10%
CURRENT VS 10Y AVG
-5.64%
CURRENT VS 15Y AVG
-28.18%
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
13.9%
Earnings Payout Ratio
21.4%
Dividend Yield
0.32%
FCF Yield
2.14%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $497.00M | $59.00M | 11.9% |
| 2024 | $410.00M | $59.00M | 14.4% |
| 2023 | $232.00M | $59.00M | 25.4% |
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 | 13.88% |
| 2026-03-31 | 15.21% |
| 2025-12-31 | 11.90% |
| 2025-09-30 | 11.13% |
| 2025-06-30 | 11.99% |
| 2025-03-31 | 13.08% |
| 2024-12-31 | 15.65% |
| 2024-09-30 | 14.79% |
| 2024-06-30 | 13.86% |
| 2024-03-31 | 22.61% |
| 2023-12-31 | 25.43% |
| 2023-09-30 | 27.57% |
| 2023-06-30 | 23.27% |
| 2023-03-31 | 15.15% |
| 2022-12-31 | 14.25% |
| 2022-09-30 | 11.80% |
| 2022-06-30 | 12.88% |
| 2022-03-31 | 9.99% |
| 2021-12-31 | 8.41% |
| 2021-09-30 | 9.22% |
| 2021-06-30 | 9.16% |
| 2021-03-31 | 9.51% |
| 2020-12-31 | 10.27% |
| 2020-09-30 | 12.06% |
| 2020-06-30 | 15.36% |
| 2020-03-31 | 18.92% |
| 2019-12-31 | 24.09% |
| 2019-09-30 | 18.71% |
| 2019-06-30 | 16.14% |
| 2019-03-31 | 14.37% |
| 2018-12-31 | 12.09% |
| 2018-09-30 | 13.40% |
| 2018-06-30 | 12.56% |
| 2018-03-31 | 11.85% |
| 2017-12-31 | 11.79% |
| 2017-09-30 | 12.42% |
| 2017-06-30 | 13.04% |
| 2017-03-31 | 17.97% |
| 2016-12-31 | 22.26% |
| 2016-09-30 | 23.12% |
| 2016-06-30 | 30.84% |
| 2016-03-31 | 27.92% |
| 2015-12-31 | 28.57% |
| 2015-09-30 | 30.48% |
| 2015-06-30 | 29.24% |
| 2015-03-31 | 35.43% |
| 2014-12-31 | 39.28% |
| 2014-09-30 | 38.71% |
| 2014-06-30 | 40.44% |
| 2014-03-31 | 47.75% |
| 2013-12-31 | 53.36% |
| 2013-09-30 | 68.75% |
| 2013-06-30 | 75.57% |
| 2013-03-31 | 34.75% |
| 2012-12-31 | 27.36% |
| 2012-09-30 | 21.67% |
| 2012-06-30 | 19.48% |
| 2012-03-31 | 22.67% |
| 2011-12-31 | 22.33% |
| 2011-09-30 | 13.22% |
| 2011-06-30 | 9.33% |
| 2011-03-31 | 4.89% |
| 2022 |
| $365.00M |
| $52.00M |
| 14.2% |
| 2021 | $552.80M | $47.60M | 8.6% |
| 2020 | $428.00M | $44.00M | 10.3% |
| 2019 | $180.60M | $43.53M | 24.1% |
| 2018 | $350.84M | $42.41M | 12.1% |
| 2017 | $323.94M | $38.18M | 11.8% |
| 2016 | $160.97M | $36.36M | 22.6% |
| 2015 | $125.88M | $35.97M | 28.6% |
| 2014 | $88.73M | $34.85M | 39.3% |
| 2013 | $63.68M | $33.98M | 53.4% |
| 2012 | $119.46M | $32.69M | 27.4% |
| 2011 | $140.47M | $31.37M | 22.3% |
| 2010 | $147.65M | $0 | 0.0% |
| 2009 | $3.19M | $0 | 0.0% |
| 2008 | $76.32M | $0 | 0.0% |
| 2007 | $104.03M | $0 | 0.0% |
| 2006 | $67.52M | $0 | 0.0% |
| 2005 | $53.88M | $0 | 0.0% |
| 2004 | $48.13M | $0 | 0.0% |
| 2003 | ($6.53M) | $0 | N/A (Loss) |
| 2002 | $5.90M | $0 | 0.0% |
| 2001 | $5.47M | $0 | 0.0% |
| 2000 | $23.04M | $1.42M | 6.2% |
| 1999 | $11.60M | $40.00M | 344.8% |
| 1998 | $19.90M | $6.20M | 31.2% |
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.
