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 3.10% is 86% below its 5-year average of 22.08%, near the low end of its 5-year range (2.90%–320.04%).
As of the fiscal period ended Tuesday, June 30, 2026. 20.41% below its 12-month average of 3.89%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
3.10%
FCF PAYOUT RATIO AVG TTM
3.89%
FCF PAYOUT RATIO AVG 3Y
3.73%
FCF PAYOUT RATIO AVG 5Y
5.46%
FCF PAYOUT RATIO AVG 10Y
4.80%
FCF PAYOUT RATIO AVG 15Y
4.80%
FCF PAYOUT RATIO AVG 20Y
4.80%
CURRENT VS TTM AVG
-20.41%
CURRENT VS 3Y AVG
-17.08%
CURRENT VS 5Y AVG
-43.28%
CURRENT VS 10Y AVG
-35.47%
CURRENT VS 15Y AVG
-35.47%
CURRENT VS 20Y AVG
-35.47%
FCF Payout Ratio TTM
3.1%
Earnings Payout Ratio
6.3%
Dividend Yield
0.06%
FCF Yield
1.50%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $1.62B | $60.42M | 3.7% |
| 2024 | $1.48B | $54.20M | 3.7% |
| 2023 | $1.14B | $47.75M | 4.2% |
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 | 3.10% |
| 2026-03-31 | 3.69% |
| 2025-12-31 | 3.73% |
| 2025-09-30 | 4.70% |
| 2025-06-30 | 4.23% |
| 2025-03-31 | 3.90% |
| 2024-12-31 | 3.67% |
| 2024-09-30 | 2.90% |
| 2024-06-30 | 3.27% |
| 2024-03-31 | 3.66% |
| 2023-12-31 | 4.21% |
| 2023-09-30 | 6.31% |
| 2023-06-30 | 6.30% |
| 2023-03-31 | 6.29% |
| 2022-12-31 | 5.85% |
| 2022-09-30 | 12.87% |
| 2022-06-30 | 320.04% |
| 2022-03-31 | 28.08% |
| 2021-12-31 | 17.39% |
| 2021-09-30 | 11.71% |
| 2021-06-30 | 7.84% |
| 2021-03-31 | 4.11% |
| 2020-12-31 | 3.38% |
| 2020-09-30 | 2.20% |
| 2020-06-30 | 2.17% |
| 2020-03-31 | 4.32% |
| 2019-12-31 | 8.79% |
| 2005-09-30 | 21.69% |
| 2005-06-30 | 3.20% |
| 2005-03-31 | 2.64% |
| 2004-12-31 | 2.01% |
| 2004-09-30 | 0.01% |
| 2004-06-30 | 0.03% |
| 2004-03-31 | 0.34% |
| 2003-12-31 | 2.90% |
| 2003-09-30 | 3.19% |
| 2003-06-30 | 2.89% |
| 2022 |
| $701.53M |
| $41.06M |
| 5.9% |
| 2021 | $195.67M | $34.02M | 17.4% |
| 2020 | $855.40M | $28.89M | 3.4% |
| 2019 | $264.28M | $23.24M | 8.8% |
| 2018 | $50.75M | $0 | 0.0% |
| 2017 | $127.82M | $0 | 0.0% |
| 2016 | $167.59M | $0 | 0.0% |
| 2015 | $430.35M | $0 | 0.0% |
| 2014 | $9.10M | $0 | 0.0% |
| 2013 | $183.03M | $0 | 0.0% |
| 2012 | ($104.77M) | $0 | N/A (Loss) |
| 2011 | $46.02M | $0 | 0.0% |
| 2010 | $90.61M | $0 | 0.0% |
| 2009 | $211.92M | $0 | 0.0% |
| 2008 | $42.29M | $0 | 0.0% |
| 2007 | $91.31M | $0 | 0.0% |
| 2006 | $72.19M | $0 | 0.0% |
| 2005 | $39.87M | $0 | 0.0% |
| 2004 | $105.11M | $2.11M | 2.0% |
| 2003 | $81.24M | $2.11M | 2.6% |
| 2002 | $72.07M | $0.01M | 0.0% |
| 2001 | $125.04M | $0 | 0.0% |
| 2000 | ($44.19M) | $0 | N/A (Loss) |
| 1999 | ($323.50M) | $0 | N/A (Loss) |
| 1998 | ($103.50M) | $0 | N/A (Loss) |
| 1997 | ($1.40M) | $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.
