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 40.00% is 40% below its 5-year average of 66.36%, near the low end of its 5-year range (40.00%–104.08%).
As of the fiscal period ended Tuesday, June 30, 2026. 21.92% below its 12-month average of 51.23%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
40.00%
FCF PAYOUT RATIO AVG TTM
51.23%
FCF PAYOUT RATIO AVG 3Y
73.70%
FCF PAYOUT RATIO AVG 5Y
66.36%
FCF PAYOUT RATIO AVG 10Y
68.79%
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-21.92%
CURRENT VS 3Y AVG
-45.73%
CURRENT VS 5Y AVG
-39.73%
CURRENT VS 10Y AVG
-41.85%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
40.0%
Earnings Payout Ratio
19.8%
Dividend Yield
1.01%
FCF Yield
2.50%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $568.63M | $153.87M | 27.1% |
| 2024 | $76.63M | $121.15M | 158.1% |
| 2023 | $402.87M | $188.74M | 46.8% |
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 | 40.00% |
| 2025-12-31 | 40.09% |
| 2025-06-30 | 73.60% |
| 2024-12-31 | 104.08% |
| 2024-06-30 | 92.95% |
| 2023-12-31 | 79.75% |
| 2023-06-30 | 85.42% |
| 2022-12-31 | 64.93% |
| 2022-06-30 | 61.35% |
| 2021-12-31 | 40.34% |
| 2021-06-30 | 47.50% |
| 2020-12-31 | 53.73% |
| 2020-06-30 | 47.49% |
| 2019-12-31 | 57.11% |
| 2019-06-30 | 52.05% |
| 2018-12-31 | 52.29% |
| 2018-06-30 | 65.64% |
| 2017-12-31 | 74.97% |
| 2017-06-30 | 85.24% |
| 2016-12-31 | 110.86% |
| 2016-06-30 | 115.15% |
| 2015-12-31 | 510.43% |
| 2015-06-30 | 207.95% |
| 2014-12-31 | 752.94% |
| 2014-06-30 | 190.12% |
| 2012-12-31 | 865.03% |
| 2022 |
| $348.80M |
| $119.83M |
| 34.4% |
| 2021 | $227.67M | $76.27M | 33.5% |
| 2020 | $158.80M | $8.55M | 5.4% |
| 2019 | $426.90M | $165.08M | 38.7% |
| 2018 | $436.52M | $159.86M | 36.6% |
| 2017 | $346.82M | $117.17M | 33.8% |
| 2016 | $208.88M | $91.40M | 43.8% |
| 2015 | $25.53M | $80.39M | 314.9% |
| 2014 | $3.99M | $83.12M | n/m |
| 2013 | $17.08M | $94.38M | 552.4% |
| 2012 | ($177.99M) | $80.16M | N/A (Loss) |
| 2011 | $165.23M | $69.46M | 42.0% |
| 2010 | $190.02M | $60.93M | 32.1% |
| 2009 | $161.10M | $65.07M | 40.4% |
| 2008 | $156.25M | $64.54M | 41.3% |
| 2007 | $197.44M | $63.63M | 32.2% |
| 2006 | $126.34M | $53.07M | 42.0% |
| 2005 | $243.77M | $0 | 0.0% |
| 2004 | $4.87M | $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.
