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 18.99% is 25% below its 5-year average of 25.27%, near the low end of its 5-year range (18.99%–38.31%).
As of the fiscal period ended Tuesday, June 30, 2026. 30.72% below its 12-month average of 27.42%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted. Q4 FY2026 (2026-06-30): 18.99%.
FCF PAYOUT RATIO
18.99%
FCF PAYOUT RATIO AVG TTM
27.42%
FCF PAYOUT RATIO AVG 3Y
25.39%
FCF PAYOUT RATIO AVG 5Y
25.27%
FCF PAYOUT RATIO AVG 10Y
32.20%
FCF PAYOUT RATIO AVG 15Y
26.05%
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-30.72%
CURRENT VS 3Y AVG
-25.20%
CURRENT VS 5Y AVG
-24.82%
CURRENT VS 10Y AVG
-41.01%
CURRENT VS 15Y AVG
-27.08%
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
19.0%
Earnings Payout Ratio
19.4%
Dividend Yield
0.68%
FCF Yield
6.80%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $805.00M | $204.00M | 25.3% |
| 2025 | $727.00M | $185.00M | 25.4% |
| 2024 | $602.00M | $172.00M | 28.6% |
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 | 18.99% |
| 2026-03-31 | 36.40% |
| 2025-12-31 | 30.21% |
| 2025-09-30 | 26.02% |
| 2025-06-30 | 25.45% |
| 2025-03-31 | 22.92% |
| 2024-12-31 | 23.28% |
| 2024-09-30 | 20.91% |
| 2024-06-30 | 24.29% |
| 2024-03-31 | 19.89% |
| 2023-12-31 | 21.28% |
| 2023-09-30 | 31.15% |
| 2023-06-30 | 29.34% |
| 2023-03-31 | 38.31% |
| 2022-12-31 | 30.74% |
| 2022-09-30 | 23.71% |
| 2022-06-30 | 20.47% |
| 2022-03-31 | 22.97% |
| 2021-12-31 | 22.32% |
| 2021-09-30 | 22.67% |
| 2021-06-30 | 19.24% |
| 2021-03-31 | 15.85% |
| 2020-12-31 | 22.53% |
| 2020-09-30 | 31.58% |
| 2020-06-30 | 46.20% |
| 2020-03-31 | 66.53% |
| 2019-12-31 | 74.19% |
| 2019-09-30 | 55.94% |
| 2019-06-30 | 45.22% |
| 2019-03-31 | 43.28% |
| 2018-12-31 | 38.69% |
| 2018-09-30 | 36.45% |
| 2018-06-30 | 40.20% |
| 2018-03-31 | 34.96% |
| 2017-12-31 | 37.08% |
| 2017-09-30 | 31.70% |
| 2017-06-30 | 63.87% |
| 2017-03-31 | 44.97% |
| 2016-12-31 | 50.00% |
| 2016-09-30 | 63.40% |
| 2016-06-30 | 23.33% |
| 2016-03-31 | 24.59% |
| 2015-12-31 | 23.51% |
| 2015-09-30 | 6.28% |
| 2015-06-30 | 6.62% |
| 2015-03-31 | 8.57% |
| 2014-12-31 | 5.34% |
| 2014-09-30 | 5.25% |
| 2014-06-30 | 5.05% |
| 2014-03-31 | 4.30% |
| 2013-12-31 | 3.89% |
| 2013-09-30 | 6.73% |
| 2013-06-30 | 11.83% |
| 2013-03-31 | 5.88% |
| 2012-12-31 | 6.49% |
| 2012-09-30 | 9.38% |
| 2012-06-30 | 2.73% |
| 2023 |
| $593.00M |
| $174.00M |
| 29.3% |
| 2022 | $855.00M | $175.00M | 20.5% |
| 2021 | $847.00M | $163.00M | 19.2% |
| 2020 | $342.00M | $158.00M | 46.2% |
| 2019 | $356.00M | $161.00M | 45.2% |
| 2018 | $393.00M | $158.00M | 40.2% |
| 2017 | $238.00M | $152.00M | 63.9% |
| 2016 | $696.00M | $147.00M | 21.1% |
| 2015 | $523.00M | $30.00M | 5.7% |
| 2014 | $475.00M | $24.00M | 5.1% |
| 2013 | $169.00M | $20.00M | 11.8% |
| 2012 | $476.00M | $13.00M | 2.7% |
| 2011 | $782.00M | $10.00M | 1.3% |
| 2010 | $719.00M | $5.00M | 0.7% |
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.
