Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
The FCF payout ratio is 68.89% as of the fiscal period ended Tuesday, March 31, 2026.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
68.89%
FCF PAYOUT RATIO AVG TTM
66.84%
FCF PAYOUT RATIO AVG 3Y
65.87%
FCF PAYOUT RATIO AVG 5Y
66.15%
FCF PAYOUT RATIO AVG 10Y
70.73%
FCF PAYOUT RATIO AVG 15Y
72.36%
FCF PAYOUT RATIO AVG 20Y
72.05%
CURRENT VS TTM AVG
+3.06%
CURRENT VS 3Y AVG
+4.58%
CURRENT VS 5Y AVG
+4.14%
CURRENT VS 10Y AVG
-2.61%
CURRENT VS 15Y AVG
-4.80%
CURRENT VS 20Y AVG
-4.39%
FCF Payout Ratio TTM
68.9%
Earnings Payout Ratio
115.9%
Dividend Yield
4.86%
FCF Yield
6.96%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $667.13M | $443.20M | 66.4% |
| 2024 | $635.50M | $420.24M | 66.1% |
| 2023 | $612.41M | $404.46M | 66.0% |
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 | 68.89% |
| 2025-12-31 | 66.43% |
| 2025-09-30 | 66.50% |
| 2025-06-30 | 66.66% |
| 2025-03-31 | 65.72% |
| 2024-12-31 | 66.13% |
| 2024-09-30 | 64.84% |
| 2024-06-30 | 65.86% |
| 2024-03-31 | 65.52% |
| 2023-12-31 | 66.04% |
| 2023-09-30 | 66.19% |
| 2023-06-30 | 65.42% |
| 2023-03-31 | 65.09% |
| 2022-12-31 | 65.80% |
| 2022-09-30 | 64.93% |
| 2022-06-30 | 66.99% |
| 2022-03-31 | 66.43% |
| 2021-12-31 | 67.25% |
| 2021-09-30 | 68.98% |
| 2021-06-30 | 69.91% |
| 2021-03-31 | 78.02% |
| 2020-12-31 | 83.15% |
| 2020-09-30 | 82.68% |
| 2020-06-30 | 81.79% |
| 2020-03-31 | 75.72% |
| 2019-12-31 | 72.72% |
| 2019-09-30 | 71.07% |
| 2019-06-30 | 73.81% |
| 2019-03-31 | 71.16% |
| 2018-12-31 | 71.52% |
| 2018-09-30 | 72.27% |
| 2018-06-30 | 74.21% |
| 2018-03-31 | 73.07% |
| 2017-12-31 | 74.73% |
| 2017-09-30 | 72.62% |
| 2017-06-30 | 69.91% |
| 2017-03-31 | 70.82% |
| 2016-12-31 | 71.18% |
| 2016-09-30 | 75.46% |
| 2016-06-30 | 76.57% |
| 2016-03-31 | 77.94% |
| 2015-12-31 | 77.44% |
| 2015-09-30 | 75.22% |
| 2015-06-30 | 76.95% |
| 2015-03-31 | 77.91% |
| 2014-12-31 | 80.74% |
| 2014-09-30 | 81.05% |
| 2014-06-30 | 81.20% |
| 2014-03-31 | 79.55% |
| 2013-12-31 | 79.09% |
| 2013-09-30 | 30.16% |
| 2013-06-30 | 36.26% |
| 2013-03-31 | 43.73% |
| 2012-12-31 | 81.06% |
| 2010-09-30 | 190.22% |
| 2010-06-30 | 92.86% |
| 2010-03-31 | 116.69% |
| 2009-12-31 | 121.44% |
| 2009-09-30 | 33.64% |
| 2009-06-30 | 28.40% |
| 2009-03-31 | 58.12% |
| 2008-12-31 | 49.37% |
| 2003-06-30 | 567.50% |
| 2003-03-31 | 957.62% |
| 2022 |
| $578.36M |
| $380.54M |
| 65.8% |
| 2021 | $568.42M | $382.29M | 67.3% |
| 2020 | $450.19M | $374.35M | 83.2% |
| 2019 | $501.73M | $364.83M | 72.7% |
| 2018 | $471.91M | $337.49M | 71.5% |
| 2017 | $421.56M | $315.05M | 74.7% |
| 2016 | $415.34M | $295.63M | 71.2% |
| 2015 | $341.10M | $264.13M | 77.4% |
| 2014 | $296.73M | $239.59M | 80.7% |
| 2013 | $274.42M | $217.03M | 79.1% |
| 2012 | $228.13M | $184.92M | 81.1% |
| 2011 | ($575.43M) | $140.50M | N/A (Loss) |
| 2010 | ($43.01M) | $133.04M | N/A (Loss) |
| 2009 | $105.07M | $127.59M | 121.4% |
| 2008 | ($115.87M) | $116.89M | N/A (Loss) |
| 2007 | ($547.47M) | $92.99M | N/A (Loss) |
| 2006 | ($333.99M) | $80.83M | N/A (Loss) |
| 2005 | ($236.87M) | $74.70M | N/A (Loss) |
| 2004 | ($59.77M) | $71.95M | N/A (Loss) |
| 2003 | ($161.41M) | $59.98M | N/A (Loss) |
| 2002 | $15.35M | $55.18M | 359.6% |
| 2001 | $18.17M | $38.64M | 212.6% |
| 2000 | $46.20M | $37.76M | 81.7% |
| 1999 | ($30.09M) | $37.49M | N/A (Loss) |
| 1998 | $11.69M | $35.67M | 305.2% |
| 1997 | ($150.12M) | $28.38M | N/A (Loss) |
| 1996 | ($122.72M) | $18.87M | 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.
