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 15.76% is 33% below its 5-year average of 23.59%, near the low end of its 5-year range (14.32%–73.86%).
As of the fiscal period ended Tuesday, June 30, 2026. 24.45% below its 12-month average of 20.86%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted. Q3 FY2026 (2026-06-30): 15.76%.
FCF PAYOUT RATIO
15.76%
FCF PAYOUT RATIO AVG TTM
20.86%
FCF PAYOUT RATIO AVG 3Y
25.31%
FCF PAYOUT RATIO AVG 5Y
23.59%
FCF PAYOUT RATIO AVG 10Y
18.34%
FCF PAYOUT RATIO AVG 15Y
16.40%
FCF PAYOUT RATIO AVG 20Y
17.44%
CURRENT VS TTM AVG
-24.45%
CURRENT VS 3Y AVG
-37.73%
CURRENT VS 5Y AVG
-33.18%
CURRENT VS 10Y AVG
-14.04%
CURRENT VS 15Y AVG
-3.91%
CURRENT VS 20Y AVG
-9.64%
FCF Payout Ratio TTM
15.8%
Earnings Payout Ratio
19.1%
Dividend Yield
2.40%
FCF Yield
15.15%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $366.16M | $68.71M | 18.8% |
| 2024 | $401.07M | $72.90M | 18.2% |
| 2023 | $223.65M | $68.07M | 30.4% |
| 2022 | $233.69M | $68.72M | 29.4% |
| 2021 | $480.76M | $68.84M | 14.3% |
| 2020 | $203.88M | $70.16M | 34.4% |
| 2019 | $289.88M | $63.89M | 22.0% |
| 2018 | $297.00M | $11.69M | 3.9% |
| 2017 | $313.05M | $11.67M | 3.7% |
| 2016 | $133.63M | $11.70M | 8.8% |
| 2015 | $101.07M | $11.93M | 11.8% |
| 2014 | $166.45M | $12.19M | 7.3% |
| 2013 | $58.76M | $12.27M | 20.9% |
| 2012 | $92.01M | $12.18M | 13.2% |
| 2011 | $70.75M | $10.33M | 14.6% |
| 2010 | $115.83M | $8.38M | 7.2% |
| 2009 | $4.05M | $8.05M | 198.8% |
| 2008 | $41.12M | $7.80M | 19.0% |
| 2007 | $33.36M | $8.75M | 26.2% |
| 2006 | ($10.43M) | $8.59M | N/A (Loss) |
| 2005 | $60.76M | $6.40M | 10.5% |
| 2004 | $40.60M | $0 | 0.0% |
| 2003 | $48.22M | $0 | 0.0% |
| 2002 | $50.51M | $0 | 0.0% |
| 2001 | $33.31M | $0 | 0.0% |
| 2000 | ($0.90M) | $0 | N/A (Loss) |
| 1999 | $6.10M | $0.80M | 13.1% |
| 1998 | ($8.10M) | $7.40M | N/A (Loss) |
| 1997 | $16.80M | $21.70M | 129.2% |
| 1996 | $2.80M | $2.20M | 78.6% |
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 |
|---|---|
| 2026-06-30 | 15.76% |
| 2026-03-31 | 18.26% |
| 2025-12-31 | 30.66% |
| 2025-09-30 | 18.77% |
| 2025-03-31 | 32.53% |
| 2024-12-31 | 25.88% |
| 2024-09-30 | 19.03% |
| 2024-06-30 | 19.75% |
| 2024-03-31 | 41.83% |
| 2023-12-31 | 18.58% |
| 2023-09-30 | 30.44% |
| 2023-06-30 | 32.27% |
| 2023-03-31 | 23.81% |
| 2022-12-31 | 73.86% |
| 2022-09-30 | 29.40% |
| 2022-06-30 | 17.24% |
| 2022-03-31 | 22.03% |
| 2021-12-31 | 18.03% |
| 2021-09-30 | 14.32% |
| 2021-06-30 | 19.61% |
| 2021-03-31 | 18.59% |
| 2020-12-31 | 32.13% |
| 2020-09-30 | 34.41% |
| 2020-06-30 | 51.89% |
| 2020-03-31 | 24.95% |
| 2019-12-31 | 20.73% |
| 2019-09-30 | 22.04% |
| 2019-06-30 | 14.35% |
| 2019-03-31 | 12.51% |
| 2018-12-31 | 7.87% |
| 2018-09-30 | 3.94% |
| 2018-06-30 | 4.73% |
| 2018-03-31 | 4.00% |
| 2017-12-31 | 4.16% |
| 2017-09-30 | 3.73% |
| 2017-06-30 | 3.99% |
| 2017-03-31 | 4.57% |
| 2016-12-31 | 5.66% |
| 2016-09-30 | 8.76% |
| 2016-06-30 | 17.45% |
| 2016-03-31 | 13.40% |
| 2015-12-31 | 24.17% |
| 2015-09-30 | 11.80% |
| 2015-06-30 | 8.76% |
| 2015-03-31 | 9.86% |
| 2014-12-31 | 6.89% |
| 2014-09-30 | 7.32% |
| 2014-06-30 | 8.37% |
| 2014-03-31 | 12.15% |
| 2013-12-31 | 13.13% |
| 2013-09-30 | 20.88% |
| 2013-06-30 | 17.10% |
| 2013-03-31 | 25.14% |
| 2012-12-31 | 18.29% |
| 2012-09-30 | 13.24% |
| 2012-06-30 | 13.82% |
| 2012-03-31 | 11.05% |
| 2011-12-31 | 16.10% |
| 2011-09-30 | 14.60% |
| 2011-06-30 | 13.90% |
| 2011-03-31 | 10.81% |
| 2010-12-31 | 9.02% |
| 2010-09-30 | 7.23% |
| 2010-06-30 | 8.59% |
| 2010-03-31 | 13.69% |
| 2009-12-31 | 10.05% |
| 2009-09-30 | 198.82% |
| 2009-06-30 | 31.63% |
| 2009-03-31 | 30.24% |
| 2008-09-30 | 18.96% |
| 2008-06-30 | 95.13% |
| 2008-03-31 | 26.36% |
| 2007-12-31 | 19.73% |
| 2007-09-30 | 26.23% |
| 2007-06-30 | 23.48% |
| 2007-03-31 | 307.19% |
| 2006-06-30 | 43.13% |
| 2006-03-31 | 25.80% |
| 2005-12-31 | 11.90% |
| 2005-09-30 | 7.03% |
| 2005-06-30 | 3.44% |
