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 12.46% is 56% below its 5-year average of 28.37%, near the low end of its 5-year range (5.10%–341.79%).
As of the fiscal period ended Tuesday, June 30, 2026. 8.84% above its 12-month average of 11.45%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
12.46%
FCF PAYOUT RATIO AVG TTM
11.45%
FCF PAYOUT RATIO AVG 3Y
10.20%
FCF PAYOUT RATIO AVG 5Y
11.23%
FCF PAYOUT RATIO AVG 10Y
11.39%
FCF PAYOUT RATIO AVG 15Y
11.80%
FCF PAYOUT RATIO AVG 20Y
9.60%
CURRENT VS TTM AVG
+8.84%
CURRENT VS 3Y AVG
+22.13%
CURRENT VS 5Y AVG
+10.89%
CURRENT VS 10Y AVG
+9.34%
CURRENT VS 15Y AVG
+5.54%
CURRENT VS 20Y AVG
+29.76%
FCF Payout Ratio TTM
12.5%
Earnings Payout Ratio
8.9%
Dividend Yield
0.77%
FCF Yield
6.02%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $1.75B | $176.68M | 10.1% |
| 2024 | $1.56B | $167.71M | 10.7% |
| 2023 | $2.10B | $142.46M | 6.8% |
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 |
|---|---|
| 2026-06-30 | 12.46% |
| 2026-03-31 | 10.29% |
| 2025-12-31 | 10.10% |
| 2025-09-30 | 11.26% |
| 2025-06-30 | 13.12% |
| 2025-03-31 | 11.77% |
| 2024-12-31 | 10.73% |
| 2024-09-30 | 12.58% |
| 2024-06-30 | 11.92% |
| 2024-03-31 | 9.11% |
| 2023-12-31 | 6.77% |
| 2023-09-30 | 5.10% |
| 2023-06-30 | 7.40% |
| 2023-03-31 | 13.38% |
| 2022-12-31 | 25.93% |
| 2022-09-30 | 341.79% |
| 2022-06-30 | 25.79% |
| 2022-03-31 | 15.64% |
| 2021-12-31 | 15.87% |
| 2021-09-30 | 14.41% |
| 2021-06-30 | 10.31% |
| 2021-03-31 | 7.93% |
| 2020-12-31 | 7.54% |
| 2020-09-30 | 7.52% |
| 2020-06-30 | 8.32% |
| 2020-03-31 | 11.71% |
| 2019-12-31 | 12.00% |
| 2019-09-30 | 12.26% |
| 2019-06-30 | 9.83% |
| 2019-03-31 | 7.86% |
| 2018-12-31 | 7.48% |
| 2018-09-30 | 7.66% |
| 2018-06-30 | 10.84% |
| 2018-03-31 | 14.57% |
| 2017-12-31 | 17.87% |
| 2017-09-30 | 19.38% |
| 2017-06-30 | 22.41% |
| 2017-03-31 | 92.36% |
| 2016-12-31 | 430.25% |
| 2015-03-31 | 58.63% |
| 2014-12-31 | 29.04% |
| 2014-09-30 | 15.98% |
| 2014-06-30 | 13.44% |
| 2014-03-31 | 8.70% |
| 2013-12-31 | 4.50% |
| 2013-09-30 | 2.21% |
| 2009-09-30 | 1.37% |
| 2009-06-30 | 1.87% |
| 2009-03-31 | 2.45% |
| 2008-12-31 | 3.42% |
| 2008-09-30 | 2.52% |
| 2008-06-30 | 2.49% |
| 2008-03-31 | 3.49% |
| 2007-12-31 | 3.57% |
| 2007-09-30 | 3.27% |
| 2007-06-30 | 5.70% |
| 2007-03-31 | 17.65% |
| 2022 |
| $555.80M |
| $144.12M |
| 25.9% |
| 2021 | $931.24M | $147.83M | 15.9% |
| 2020 | $1.73B | $130.18M | 7.5% |
| 2019 | $1.02B | $122.35M | 12.0% |
| 2018 | $1.39B | $104.02M | 7.5% |
| 2017 | $631.03M | $112.75M | 17.9% |
| 2016 | $28.98M | $124.67M | 430.3% |
| 2015 | ($393.57M) | $115.96M | N/A (Loss) |
| 2014 | $260.46M | $75.65M | 29.0% |
| 2013 | $852.24M | $38.38M | 4.5% |
| 2012 | $746.20M | $0 | 0.0% |
| 2011 | ($4.02M) | $0 | N/A (Loss) |
| 2010 | $565.08M | $0 | 0.0% |
| 2009 | $699.60M | $0 | 0.0% |
| 2008 | $1.20B | $41.12M | 3.4% |
| 2007 | $1.15B | $41.00M | 3.6% |
| 2006 | ($366.15M) | $40.88M | N/A (Loss) |
| 2005 | ($70.18M) | $33.55M | N/A (Loss) |
| 2004 | ($773.50M) | $25.43M | N/A (Loss) |
| 2003 | ($340.97M) | $13.61M | N/A (Loss) |
| 2002 | $162.20M | $9.77M | 6.0% |
| 2001 | ($418.80M) | $8.11M | N/A (Loss) |
| 2000 | $23.32M | $6.58M | 28.2% |
| 1999 | ($13.20M) | $6.90M | N/A (Loss) |
| 1998 | ($290.10M) | $6.50M | N/A (Loss) |
| 1997 | ($45.20M) | $5.20M | N/A (Loss) |
| 1996 | ($73.10M) | $6.00M | 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.
