Basis: Trailing twelve months (TTM). 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 21.05% is 53% below its 5-year average of 45.06%, near the low end of its 5-year range (18.71%–125.74%).
5.50% above its 12-month average of 19.95%.
Reported annual FCF payout ratio; periods with losses or near-zero free cash flow are omitted. Historical series through 2026-06-30.
FCF PAYOUT RATIO
21.05%
FCF PAYOUT RATIO AVG TTM
19.95%
FCF PAYOUT RATIO AVG 3Y
27.01%
FCF PAYOUT RATIO AVG 5Y
45.06%
FCF PAYOUT RATIO AVG 10Y
44.87%
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+5.50%
CURRENT VS 3Y AVG
-22.06%
CURRENT VS 5Y AVG
-53.28%
CURRENT VS 10Y AVG
-53.09%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
21.1%
Earnings Payout Ratio
23.1%
Dividend Yield
1.10%
FCF Yield
N/A
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $1.65B | $349.66M | 21.2% |
| 2025 | $1.66B | $310.88M | 18.7% |
| 2024 | $1.29B | $282.32M | 21.9% |
| 2023 | $559.30M | $258.28M | 46.2% |
| 2022 | $195.11M | $245.34M | 125.7% |
| 2021 | $619.89M | $226.71M | 36.6% |
| 2020 | $696.32M | $225.09M | 32.3% |
| 2019 | $381.71M | $211.71M | 55.5% |
| 2018 | $433.57M | $199.50M | 46.0% |
| 2017 | $342.58M | $186.35M | 54.4% |
| 2016 | $480.10M | $168.13M | 35.0% |
| 2015 | $311.24M | $157.26M | 50.5% |
| 2014 | $310.11M | $141.52M | 45.6% |
| 2013 | $331.04M | $97.20M | 29.4% |
| 2012 | $322.05M | $0 | 0.0% |
| 2011 | $208.19M | $0 | 0.0% |
| 2010 | $126.57M | $0 | 0.0% |
| 2009 | $124.66M | $0 | 0.0% |
| 2008 | $62.06M | $0 | 0.0% |
| 2007 | $13.55M | $0 | 0.0% |
| 2006 | ($3.72M) | $0 | N/A (Loss) |
| 2005 | $31.39M | $0 | 0.0% |
| 2004 | $19.30M | $0 | 0.0% |
| 2003 | $33.65M | $0 | 0.0% |
| 2002 | $7.46M | $0 | 0.0% |
| 2001 | $2.06M | $0 | 0.0% |
| 2000 | $4.11M | $0 | 0.0% |
| 1999 | ($4.30M) | $0 | N/A (Loss) |
| 1998 | ($5.00M) | $0 | N/A (Loss) |
| 1997 | $5.50M | $0 | 0.0% |
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.
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 | 21.20% |
| 2025-06-30 | 18.71% |
| 2024-06-30 | 21.95% |
| 2023-06-30 | 46.18% |
| 2022-06-30 | 125.74% |
| 2021-06-30 | 36.57% |
| 2020-06-30 | 32.33% |
| 2019-06-30 | 55.46% |
| 2018-06-30 | 46.01% |
| 2017-06-30 | 54.40% |
| 2016-06-30 | 35.02% |
| 2015-06-30 | 50.53% |
| 2014-06-30 | 45.63% |
| 2013-06-30 | 29.36% |
