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 21.33% is in line with its 5-year average of 20.21%, around the middle of its 5-year range (12.44%–29.40%).
As of the fiscal period ended Tuesday, June 30, 2026. 13.93% below its 12-month average of 24.78%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
21.33%
FCF PAYOUT RATIO AVG TTM
24.78%
FCF PAYOUT RATIO AVG 3Y
23.93%
FCF PAYOUT RATIO AVG 5Y
20.21%
FCF PAYOUT RATIO AVG 10Y
16.63%
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-13.93%
CURRENT VS 3Y AVG
-10.88%
CURRENT VS 5Y AVG
+5.52%
CURRENT VS 10Y AVG
+28.30%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
21.3%
Earnings Payout Ratio
22.0%
Dividend Yield
0.61%
FCF Yield
2.87%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $955.10M | $235.64M | 24.7% |
| 2024 | $887.97M | $223.62M | 25.2% |
| 2023 | $811.83M | $175.09M | 21.6% |
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 | 21.33% |
| 2026-03-31 | 23.25% |
| 2025-12-31 | 24.67% |
| 2025-09-30 | 25.27% |
| 2025-06-30 | 29.40% |
| 2025-03-31 | 27.22% |
| 2024-12-31 | 25.18% |
| 2024-09-30 | 21.43% |
| 2024-06-30 | 19.18% |
| 2024-03-31 | 20.06% |
| 2023-12-31 | 21.57% |
| 2023-09-30 | 28.76% |
| 2023-06-30 | 23.84% |
| 2023-03-31 | 18.00% |
| 2022-12-31 | 14.67% |
| 2022-09-30 | 12.44% |
| 2022-06-30 | 13.36% |
| 2022-03-31 | 14.80% |
| 2021-12-31 | 13.94% |
| 2021-09-30 | 12.86% |
| 2021-06-30 | 13.28% |
| 2021-03-31 | 9.31% |
| 2020-12-31 | 10.03% |
| 2020-09-30 | 10.35% |
| 2020-06-30 | 9.42% |
| 2020-03-31 | 11.34% |
| 2019-12-31 | 10.81% |
| 2019-09-30 | 10.66% |
| 2019-06-30 | 11.82% |
| 2019-03-31 | 13.57% |
| 2018-12-31 | 13.65% |
| 2018-09-30 | 15.44% |
| 2018-06-30 | 16.00% |
| 2018-03-31 | 16.77% |
| 2017-12-31 | 21.36% |
| 2017-09-30 | 13.15% |
| 2017-06-30 | 8.19% |
| 2017-03-31 | 5.37% |
| 2022 |
| $916.43M |
| $134.48M |
| 14.7% |
| 2021 | $662.53M | $92.37M | 13.9% |
| 2020 | $707.94M | $71.02M | 10.0% |
| 2019 | $504.56M | $54.55M | 10.8% |
| 2018 | $311.82M | $42.57M | 13.7% |
| 2017 | $154.17M | $32.92M | 21.4% |
| 2016 | $147.64M | $0 | 0.0% |
| 2015 | $91.82M | $0 | 0.0% |
| 2014 | $23.99M | $0 | 0.0% |
| 2013 | $55.06M | $0 | 0.0% |
| 2012 | ($45.14M) | $0 | N/A (Loss) |
| 2011 | $27.17M | $0 | 0.0% |
| 2010 | $34.73M | $0 | 0.0% |
| 2009 | ($80.17M) | $0 | N/A (Loss) |
| 2008 | $15.01M | $0 | 0.0% |
| 2007 | ($29.09M) | $0 | N/A (Loss) |
| 2006 | ($44.49M) | $0 | N/A (Loss) |
| 2005 | ($28.97M) | $0 | N/A (Loss) |
| 2004 | ($3.85M) | $0 | N/A (Loss) |
| 2003 | ($26.84M) | $0 | N/A (Loss) |
| 2002 | ($25.65M) | $0 | N/A (Loss) |
| 2001 | ($11.36M) | $0 | N/A (Loss) |
| 2000 | ($20.92M) | $0 | N/A (Loss) |
| 1999 | $4.00M | $0 | 0.0% |
| 1998 | ($0.81M) | $0 | N/A (Loss) |
| 1997 | ($6.44M) | $0 | N/A (Loss) |
| 1996 | ($13.59M) | $0 | 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.
