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 56.23% is 36% above its 5-year average of 41.21%, around the middle of its 5-year range (32.01%–81.85%).
As of the fiscal period ended Tuesday, June 30, 2026. 26.29% above its 12-month average of 44.52%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
56.23%
FCF PAYOUT RATIO AVG TTM
44.52%
FCF PAYOUT RATIO AVG 3Y
38.73%
FCF PAYOUT RATIO AVG 5Y
41.21%
FCF PAYOUT RATIO AVG 10Y
45.13%
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+26.29%
CURRENT VS 3Y AVG
+45.18%
CURRENT VS 5Y AVG
+36.44%
CURRENT VS 10Y AVG
+24.58%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
56.2%
Earnings Payout Ratio
43.6%
Dividend Yield
0.58%
FCF Yield
0.98%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $666.19M | $284.80M | 42.8% |
| 2024 | $642.29M | $240.62M | 37.5% |
| 2023 | $580.63M | $185.84M | 32.0% |
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 | 56.23% |
| 2026-03-31 | 48.31% |
| 2025-12-31 | 42.88% |
| 2025-09-30 | 38.55% |
| 2025-06-30 | 36.64% |
| 2025-03-31 | 40.09% |
| 2024-12-31 | 37.46% |
| 2024-09-30 | 33.78% |
| 2024-06-30 | 34.55% |
| 2024-03-31 | 32.96% |
| 2023-12-31 | 32.01% |
| 2023-09-30 | 35.73% |
| 2023-06-30 | 51.77% |
| 2023-03-31 | 45.98% |
| 2022-12-31 | 73.45% |
| 2022-09-30 | 81.85% |
| 2022-06-30 | 43.27% |
| 2022-03-31 | 46.40% |
| 2021-12-31 | 48.66% |
| 2021-09-30 | 36.85% |
| 2021-06-30 | 40.86% |
| 2021-03-31 | 41.45% |
| 2020-12-31 | 41.85% |
| 2020-09-30 | 42.86% |
| 2020-06-30 | 39.10% |
| 2020-03-31 | 39.65% |
| 2019-12-31 | 56.31% |
| 2019-09-30 | 55.96% |
| 2019-06-30 | 60.11% |
| 2019-03-31 | 57.98% |
| 2018-12-31 | 39.92% |
| 2018-09-30 | 48.63% |
| 2018-06-30 | 54.71% |
| 2018-03-31 | 58.29% |
| 2017-12-31 | 49.86% |
| 2017-09-30 | 43.10% |
| 2017-06-30 | 46.61% |
| 2017-03-31 | 50.75% |
| 2016-12-31 | 46.83% |
| 2016-09-30 | 50.79% |
| 2016-06-30 | 52.41% |
| 2016-03-31 | 48.42% |
| 2015-12-31 | 55.79% |
| 2015-09-30 | 49.68% |
| 2015-06-30 | 51.32% |
| 2015-03-31 | 25.71% |
| 2014-12-31 | 18.04% |
| 2014-09-30 | 7.66% |
| 2013-09-30 | 146.10% |
| 2013-06-30 | 220.68% |
| 2013-03-31 | 617.24% |
| 2012-12-31 | 925.62% |
| 2022 |
| $187.83M |
| $137.97M |
| 73.5% |
| 2021 | $224.77M | $109.36M | 48.7% |
| 2020 | $212.16M | $88.79M | 41.8% |
| 2019 | $119.52M | $67.29M | 56.3% |
| 2018 | $118.92M | $47.48M | 39.9% |
| 2017 | $68.05M | $33.93M | 49.9% |
| 2016 | $70.67M | $33.10M | 46.8% |
| 2015 | $53.71M | $29.96M | 55.8% |
| 2014 | $64.62M | $11.66M | 18.0% |
| 2013 | $44.92M | $0 | 0.0% |
| 2012 | $3.85M | $35.66M | 925.6% |
| 2011 | $22.66M | $0 | 0.0% |
| 2010 | $25.71M | $0 | 0.0% |
| 2009 | $21.50M | $0 | 0.0% |
| 2008 | $34.36M | $0 | 0.0% |
| 2007 | $17.69M | $0 | 0.0% |
| 2006 | $4.34M | $0 | 0.0% |
| 2005 | $15.33M | $0 | 0.0% |
| 2004 | ($0.10M) | $0 | N/A (Loss) |
| 2003 | ($4.59M) | $0 | N/A (Loss) |
| 2002 | ($3.43M) | $0 | N/A (Loss) |
| 2001 | ($2.90M) | $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.
