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 25.31% is in line with its 5-year average of 26.29%, around the middle of its 5-year range (17.25%–37.55%).
As of the fiscal period ended Thursday, April 30, 2026. 15.94% below its 12-month average of 30.11%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
25.31%
FCF PAYOUT RATIO AVG TTM
30.11%
FCF PAYOUT RATIO AVG 3Y
28.46%
FCF PAYOUT RATIO AVG 5Y
25.62%
FCF PAYOUT RATIO AVG 10Y
23.27%
FCF PAYOUT RATIO AVG 15Y
21.54%
FCF PAYOUT RATIO AVG 20Y
21.77%
CURRENT VS TTM AVG
-15.94%
CURRENT VS 3Y AVG
-11.07%
CURRENT VS 5Y AVG
-1.21%
CURRENT VS 10Y AVG
+8.76%
CURRENT VS 15Y AVG
+17.49%
CURRENT VS 20Y AVG
+16.28%
FCF Payout Ratio TTM
25.3%
Earnings Payout Ratio
38.3%
Dividend Yield
1.06%
FCF Yield
4.13%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $661.12M | $179.07M | 27.1% |
| 2024 | $491.78M | $161.44M | 32.8% |
| 2023 | $606.70M | $150.36M | 24.8% |
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 |
|---|---|
| 2026-04-30 | 25.31% |
| 2026-01-31 | 27.89% |
| 2025-10-31 | 27.09% |
| 2025-07-31 | 32.72% |
| 2025-04-30 | 37.55% |
| 2025-01-31 | 35.98% |
| 2024-10-31 | 32.83% |
| 2024-07-31 | 27.35% |
| 2024-04-30 | 25.31% |
| 2024-01-31 | 23.12% |
| 2023-10-31 | 24.78% |
| 2023-07-31 | 24.18% |
| 2023-04-30 | 25.91% |
| 2023-01-31 | 28.37% |
| 2022-10-31 | 27.27% |
| 2022-07-31 | 25.69% |
| 2022-04-30 | 23.84% |
| 2022-01-31 | 21.92% |
| 2021-10-31 | 19.24% |
| 2021-07-31 | 17.25% |
| 2021-04-30 | 18.38% |
| 2021-01-31 | 18.38% |
| 2020-10-31 | 19.55% |
| 2020-07-31 | 21.78% |
| 2020-04-30 | 22.83% |
| 2020-01-31 | 22.16% |
| 2019-10-31 | 25.78% |
| 2019-07-31 | 26.16% |
| 2019-04-30 | 21.03% |
| 2019-01-31 | 20.64% |
| 2018-10-31 | 17.46% |
| 2018-07-31 | 17.00% |
| 2018-04-30 | 19.57% |
| 2018-01-31 | 21.69% |
| 2017-10-31 | 22.95% |
| 2017-07-31 | 21.53% |
| 2017-04-30 | 21.37% |
| 2017-01-31 | 19.37% |
| 2016-10-31 | 20.88% |
| 2016-07-31 | 24.00% |
| 2016-04-30 | 25.03% |
| 2016-01-31 | 24.04% |
| 2015-10-31 | 27.44% |
| 2015-07-31 | 26.13% |
| 2015-04-30 | 21.82% |
| 2015-01-31 | 23.60% |
| 2014-10-31 | 19.79% |
| 2014-07-31 | 21.31% |
| 2014-04-30 | 19.42% |
| 2014-01-31 | 18.54% |
| 2013-10-31 | 18.30% |
| 2013-07-31 | 15.58% |
| 2013-04-30 | 15.53% |
| 2013-01-31 | 14.71% |
| 2012-10-31 | 13.89% |
| 2012-07-31 | 15.05% |
| 2012-04-30 | 15.13% |
| 2012-01-31 | 14.56% |
| 2011-10-31 | 13.17% |
| 2011-07-31 | 12.26% |
| 2011-04-30 | 13.19% |
| 2011-01-31 | 21.32% |
| 2010-10-31 | 21.17% |
| 2010-07-31 | 24.61% |
| 2010-04-30 | 24.73% |
| 2010-01-31 | 13.81% |
| 2009-10-31 | 15.85% |
| 2009-07-31 | 19.12% |
| 2009-04-30 | 24.18% |
| 2009-01-31 | 24.23% |
| 2008-10-31 | 28.12% |
| 2008-07-31 | 22.38% |
| 2008-04-30 | 20.17% |
| 2008-01-31 | 25.65% |
| 2007-10-31 | 25.19% |
| 2007-07-31 | 24.81% |
| 2007-04-30 | 22.39% |
| 2007-01-31 | 21.70% |
| 2006-10-31 | 20.78% |
| 2006-07-31 | 22.55% |
| 2006-04-30 | 25.87% |
| 2006-01-31 | 20.77% |
| 2005-10-31 | 22.60% |
| 2005-07-31 | 20.67% |
| 2005-05-01 | 23.43% |
| 2005-01-30 | 27.81% |
| 2004-10-31 | 22.61% |
| 2004-08-01 | 22.77% |
| 2004-05-02 | 21.41% |
| 2004-02-01 | 21.70% |
| 2003-10-31 | 25.48% |
| 2003-08-03 | 26.02% |
| 2003-05-04 | 22.48% |
| 2022 |
| $461.70M |
| $125.91M |
| 27.3% |
| 2021 | $507.62M | $97.68M | 19.2% |
| 2020 | $451.89M | $88.35M | 19.6% |
| 2019 | $318.65M | $82.14M | 25.8% |
| 2018 | $414.85M | $72.44M | 17.5% |
| 2017 | $278.12M | $63.84M | 23.0% |
| 2016 | $270.31M | $56.44M | 20.9% |
| 2015 | $199.86M | $54.85M | 27.4% |
| 2014 | $244.58M | $48.39M | 19.8% |
| 2013 | $221.16M | $40.48M | 18.3% |
| 2012 | $243.44M | $33.80M | 13.9% |
| 2011 | $226.49M | $29.84M | 13.2% |
| 2010 | $124.88M | $26.44M | 21.2% |
| 2009 | $156.16M | $24.75M | 15.8% |
| 2008 | $87.66M | $24.64M | 28.1% |
| 2007 | $93.23M | $23.48M | 25.2% |
| 2006 | $107.67M | $22.37M | 20.8% |
| 2005 | $103.44M | $23.38M | 22.6% |
| 2004 | $97.88M | $22.13M | 22.6% |
| 2003 | $79.98M | $20.38M | 25.5% |
| 2002 | $119.00M | $19.01M | 16.0% |
| 2001 | $50.28M | $18.31M | 36.4% |
| 2000 | $61.33M | $16.85M | 27.5% |
| 1999 | $9.00M | $15.90M | 176.7% |
| 1998 | $54.80M | $14.50M | 26.5% |
| 1997 | $36.30M | $13.80M | 38.0% |
| 1996 | ($8.90M) | $12.90M | 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.
