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 23.01% is 25% below its 5-year average of 30.85%, near the low end of its 5-year range (21.22%–46.64%).
As of the fiscal period ended Tuesday, June 30, 2026. 27.15% below its 12-month average of 31.58%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
23.01%
FCF PAYOUT RATIO AVG TTM
31.58%
FCF PAYOUT RATIO AVG 3Y
27.18%
FCF PAYOUT RATIO AVG 5Y
30.85%
FCF PAYOUT RATIO AVG 10Y
N/A
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-27.15%
CURRENT VS 3Y AVG
-15.35%
CURRENT VS 5Y AVG
-25.42%
CURRENT VS 10Y AVG
N/A
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
23.0%
Earnings Payout Ratio
19.0%
Dividend Yield
0.50%
FCF Yield
2.14%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $371.90M | $130.40M | 35.1% |
| 2024 | $569.10M | $126.80M | 22.3% |
| 2023 | $462.50M | $116.80M | 25.3% |
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 | 23.01% |
| 2026-03-31 | 34.35% |
| 2025-12-31 | 35.06% |
| 2025-09-30 | 32.03% |
| 2025-06-30 | 33.45% |
| 2025-03-31 | 24.05% |
| 2024-12-31 | 22.28% |
| 2024-09-30 | 21.22% |
| 2024-06-30 | 22.69% |
| 2024-03-31 | 24.62% |
| 2023-12-31 | 25.25% |
| 2023-09-30 | 27.41% |
| 2023-06-30 | 27.89% |
| 2023-03-31 | 28.92% |
| 2022-12-31 | 33.55% |
| 2022-09-30 | 43.39% |
| 2022-06-30 | 46.64% |
| 2022-03-31 | 40.56% |
| 2021-12-31 | 35.26% |
| 2021-09-30 | 32.93% |
| 2021-06-30 | 33.22% |
| 2021-03-31 | 34.16% |
| 2020-12-31 | 39.14% |
| 2020-09-30 | 34.21% |
| 2020-06-30 | 35.90% |
| 2020-03-31 | 37.75% |
| 2019-12-31 | 40.57% |
| 2019-09-30 | 44.04% |
| 2019-06-30 | 45.68% |
| 2019-03-31 | 37.41% |
| 2018-12-31 | 41.51% |
| 2018-09-30 | 61.45% |
| 2018-06-30 | 26.49% |
| 2018-03-31 | 27.74% |
| 2022 |
| $348.70M |
| $117.00M |
| 33.6% |
| 2021 | $333.80M | $117.70M | 35.3% |
| 2020 | $304.00M | $119.00M | 39.1% |
| 2019 | $297.50M | $120.70M | 40.6% |
| 2018 | $304.00M | $62.90M | 20.7% |
| 2017 | $377.90M | $0 | 0.0% |
| 2016 | $289.50M | $0 | 0.0% |
| 2015 | $296.50M | $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.
