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 32.37% is in line with its 5-year average of 30.41%, near the low end of its 5-year range (22.70%–367.93%).
As of the fiscal period ended Monday, June 30, 2025. 19.06% above its 12-month average of 27.19%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
32.37%
FCF PAYOUT RATIO AVG TTM
27.19%
FCF PAYOUT RATIO AVG 3Y
36.83%
FCF PAYOUT RATIO AVG 5Y
30.41%
FCF PAYOUT RATIO AVG 10Y
29.04%
FCF PAYOUT RATIO AVG 15Y
38.25%
FCF PAYOUT RATIO AVG 20Y
38.37%
CURRENT VS TTM AVG
+19.06%
CURRENT VS 3Y AVG
-12.10%
CURRENT VS 5Y AVG
+6.47%
CURRENT VS 10Y AVG
+11.47%
CURRENT VS 15Y AVG
-15.36%
CURRENT VS 20Y AVG
-15.63%
FCF Payout Ratio TTM
32.4%
Earnings Payout Ratio
28.0%
Dividend Yield
0.72%
FCF Yield
0.00%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | ($459.91M) | $118.53M | N/A (Loss) |
| 2024 | $426.94M | $105.24M | 24.6% |
| 2023 | $413.11M | $98.57M | 23.9% |
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 |
|---|---|
| 2025-06-30 | 32.37% |
| 2025-03-31 | 29.51% |
| 2024-12-31 | 24.65% |
| 2024-09-30 | 23.87% |
| 2024-06-30 | 25.55% |
| 2024-03-31 | 22.70% |
| 2023-12-31 | 23.86% |
| 2023-09-30 | 46.88% |
| 2022-06-30 | 102.09% |
| 2021-09-30 | 367.93% |
| 2021-06-30 | 31.84% |
| 2021-03-31 | 30.25% |
| 2020-12-31 | 29.04% |
| 2020-09-30 | 36.10% |
| 2020-06-30 | 38.68% |
| 2020-03-31 | 32.99% |
| 2019-12-31 | 30.77% |
| 2019-09-30 | 24.96% |
| 2019-06-30 | 26.76% |
| 2019-03-31 | 27.02% |
| 2018-12-31 | 23.97% |
| 2018-09-30 | 22.35% |
| 2018-06-30 | 20.23% |
| 2018-03-31 | 20.03% |
| 2017-12-31 | 22.54% |
| 2017-09-30 | 36.58% |
| 2017-06-30 | 97.25% |
| 2017-03-31 | 228.88% |
| 2016-12-31 | 229.97% |
| 2016-09-30 | 68.12% |
| 2015-06-30 | 42.57% |
| 2015-03-31 | 46.29% |
| 2014-12-31 | 61.75% |
| 2014-09-30 | 42.90% |
| 2014-06-30 | 79.45% |
| 2014-03-31 | 137.53% |
| 2013-12-31 | 167.41% |
| 2011-12-31 | 197.49% |
| 2008-09-30 | 40.39% |
| 2008-06-30 | 55.53% |
| 2008-03-31 | 59.40% |
| 2005-12-31 | 30.94% |
| 2005-09-30 | 23.04% |
| 2005-06-30 | 24.85% |
| 2005-03-31 | 41.37% |
| 2004-12-31 | 20.09% |
| 2004-09-30 | 15.14% |
| 2004-06-30 | 19.74% |
| 2004-03-31 | 14.18% |
| 2003-12-31 | 17.84% |
| 2003-09-30 | 18.86% |
| 2003-06-30 | 20.39% |
| 2022 |
| ($504.81M) |
| $91.92M |
| N/A (Loss) |
| 2021 | $239.00M | $78.74M | 32.9% |
| 2020 | $184.77M | $71.47M | 38.7% |
| 2020 | $239.00M | $76.10M | 31.8% |
| 2019 | $252.11M | $67.48M | 26.8% |
| 2018 | $317.01M | $64.12M | 20.2% |
| 2017 | $63.13M | $61.40M | 97.3% |
| 2016 | ($1.18B) | $58.72M | N/A (Loss) |
| 2015 | $130.81M | $56.05M | 42.9% |
| 2014 | $65.90M | $53.38M | 81.0% |
| 2013 | ($141.63M) | $43.93M | N/A (Loss) |
| 2012 | ($114.52M) | $29.50M | N/A (Loss) |
| 2011 | ($133.05M) | $22.13M | N/A (Loss) |
| 2010 | ($184.63M) | $14.63M | N/A (Loss) |
| 2009 | ($156.06M) | $10.24M | N/A (Loss) |
| 2008 | $39.09M | $11.05M | 28.3% |
| 2007 | $24.06M | $5.72M | 23.8% |
| 2006 | $18.57M | $4.81M | 25.9% |
| 2005 | $14.69M | $3.65M | 24.9% |
| 2004 | $13.13M | $2.59M | 19.7% |
| 2003 | $11.66M | $2.38M | 20.4% |
| 2002 | $7.38M | $0.89M | 12.1% |
| 2001 | $0.97M | $0.89M | 91.3% |
| 2000 | ($4.11M) | $0 | N/A (Loss) |
| 1999 | ($4.40M) | $0 | N/A (Loss) |
| 1998 | ($0.70M) | $0 | N/A (Loss) |
| 1997 | ($0.20M) | $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.
