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 17.91% is 33% above its 1-year average of 13.45%, near the high end of its 1-year range (6.03%–18.20%).
As of the fiscal period ended Tuesday, March 31, 2026. 33.19% above its 12-month average of 13.45%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
17.91%
FCF PAYOUT RATIO AVG TTM
13.45%
FCF PAYOUT RATIO AVG 3Y
13.45%
FCF PAYOUT RATIO AVG 5Y
13.45%
FCF PAYOUT RATIO AVG 10Y
14.68%
FCF PAYOUT RATIO AVG 15Y
20.85%
FCF PAYOUT RATIO AVG 20Y
22.22%
CURRENT VS TTM AVG
+33.19%
CURRENT VS 3Y AVG
+33.19%
CURRENT VS 5Y AVG
+33.19%
CURRENT VS 10Y AVG
+21.98%
CURRENT VS 15Y AVG
-14.11%
CURRENT VS 20Y AVG
-19.39%
FCF Payout Ratio TTM
17.9%
Earnings Payout Ratio
30.8%
Dividend Yield
2.06%
FCF Yield
10.25%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $1.02B | $186.25M | 18.2% |
| 2024 | $882.14M | $0 | 0.0% |
| 2023 | $829.38M | $0 | 0.0% |
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 |
|---|---|
| 2026-03-31 | 17.91% |
| 2025-12-31 | 18.20% |
| 2025-09-30 | 14.64% |
| 2025-06-30 | 10.46% |
| 2025-03-31 | 6.03% |
| 2019-09-30 | 12.00% |
| 2019-06-30 | 12.49% |
| 2019-03-31 | 12.48% |
| 2018-12-31 | 11.65% |
| 2016-09-30 | 11.45% |
| 2016-06-30 | 21.79% |
| 2016-03-31 | 27.09% |
| 2015-12-31 | 39.39% |
| 2015-09-30 | 45.38% |
| 2015-06-30 | 37.55% |
| 2015-03-31 | 33.43% |
| 2014-12-31 | 26.54% |
| 2014-09-30 | 27.24% |
| 2014-06-30 | 29.51% |
| 2014-03-31 | 25.50% |
| 2013-12-31 | 23.95% |
| 2013-09-30 | 30.61% |
| 2013-06-30 | 28.58% |
| 2013-03-31 | 25.28% |
| 2012-12-31 | 22.47% |
| 2012-09-30 | 14.43% |
| 2012-06-30 | 8.70% |
| 2012-03-31 | 6.52% |
| 2011-12-31 | 3.42% |
| 2008-09-30 | 25.29% |
| 2008-06-30 | 25.95% |
| 2008-03-31 | 19.02% |
| 2007-12-31 | 22.82% |
| 2007-09-30 | 28.86% |
| 2007-06-30 | 31.22% |
| 2007-03-31 | 37.91% |
| 2006-12-31 | 42.13% |
| 2006-09-30 | 6.34% |
| 2005-12-31 | 2.51% |
| 2005-09-30 | 9.19% |
| 2005-06-30 | 1.39% |
| 2005-03-31 | 1.37% |
| 2004-12-31 | 1.26% |
| 2004-09-30 | 1.25% |
| 2004-06-30 | 1.16% |
| 2004-03-31 | 1.05% |
| 2003-12-31 | 1.17% |
| 2003-09-30 | 1.13% |
| 2003-06-30 | 1.05% |
| 2003-03-31 | 15.32% |
| 2022 |
| $476.56M |
| $0 |
| 0.0% |
| 2021 | $832.53M | $0 | 0.0% |
| 2020 | $759.81M | $0 | 0.0% |
| 2019 | $801.29M | $0 | 0.0% |
| 2018 | $902.49M | $556.37M | 61.6% |
| 2017 | $341.17M | $0 | 0.0% |
| 2016 | $214.34M | $0 | 0.0% |
| 2015 | $287.36M | $113.20M | 39.4% |
| 2014 | $366.81M | $97.34M | 26.5% |
| 2013 | $330.65M | $79.19M | 23.9% |
| 2012 | $303.33M | $68.16M | 22.5% |
| 2011 | $332.43M | $10.67M | 3.2% |
| 2010 | $296.28M | $0 | 0.0% |
| 2009 | $290.10M | $0 | 0.0% |
| 2008 | $308.51M | $0 | 0.0% |
| 2007 | $631.35M | $144.07M | 22.8% |
| 2006 | $569.17M | $192.63M | 33.8% |
| 2005 | $439.89M | $9.57M | 2.2% |
| 2004 | $1.03B | $13.05M | 1.3% |
| 2003 | $1.12B | $13.05M | 1.2% |
| 2002 | $576.01M | $10.22M | 1.8% |
| 2001 | $167.80M | $17.37M | 10.4% |
| 2000 | $113.06M | $0 | 0.0% |
| 1999 | $32.10M | $0 | 0.0% |
| 1998 | ($1.26B) | $0 | N/A (Loss) |
| 1997 | $1.80M | $0 | 0.0% |
| 1996 | $10.90M | $0 | 0.0% |
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.
