Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
The FCF payout ratio is 48.31% as of the fiscal period ended Tuesday, March 31, 2026.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
48.31%
FCF PAYOUT RATIO AVG TTM
43.59%
FCF PAYOUT RATIO AVG 3Y
36.41%
FCF PAYOUT RATIO AVG 5Y
32.00%
FCF PAYOUT RATIO AVG 10Y
N/A
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+10.83%
CURRENT VS 3Y AVG
+32.68%
CURRENT VS 5Y AVG
+50.98%
CURRENT VS 10Y AVG
N/A
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
48.3%
Earnings Payout Ratio
48.0%
Dividend Yield
2.72%
FCF Yield
5.53%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $1.07B | $479.01M | 44.9% |
| 2024 | $1.11B | $424.19M | 38.3% |
| 2023 | $1.31B | $369.96M | 28.3% |
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 |
|---|---|
| 2026-03-31 | 48.31% |
| 2025-12-31 | 44.91% |
| 2025-09-30 | 43.17% |
| 2025-06-30 | 42.61% |
| 2025-03-31 | 38.96% |
| 2024-12-31 | 38.33% |
| 2024-09-30 | 34.65% |
| 2024-06-30 | 33.19% |
| 2024-03-31 | 30.85% |
| 2023-12-31 | 29.12% |
| 2023-09-30 | 30.58% |
| 2023-06-30 | 28.69% |
| 2023-03-31 | 30.02% |
| 2022-12-31 | 28.64% |
| 2022-09-30 | 26.56% |
| 2022-06-30 | 26.76% |
| 2022-03-31 | 25.44% |
| 2021-12-31 | 24.01% |
| 2021-09-30 | 23.93% |
| 2021-06-30 | 21.84% |
| 2021-03-31 | 21.46% |
| 2020-12-31 | 20.82% |
| 2020-09-30 | 19.58% |
| 2020-06-30 | 19.79% |
| 2020-03-31 | 15.35% |
| 2019-12-31 | 10.04% |
| 2019-09-30 | 5.30% |
| 2022 |
| $1.07B |
| $306.77M |
| 28.6% |
| 2021 | $1.06B | $253.58M | 24.0% |
| 2020 | $997.47M | $207.69M | 20.8% |
| 2019 | $830.66M | $83.39M | 10.0% |
| 2018 | $702.33M | $0 | 0.0% |
| 2017 | $671.43M | $0 | 0.0% |
| 2016 | $589.04M | $0 | 0.0% |
| 2015 | $528.47M | $0 | 0.0% |
| 2014 | $473.41M | $0 | 0.0% |
| 2013 | $328.72M | $0 | 0.0% |
| 2012 | $229.94M | $0 | 0.0% |
| 2011 | $122.12M | $0 | 0.0% |
| 2010 | $134.54M | $0 | 0.0% |
| 2009 | $175.81M | $0 | 0.0% |
| 2008 | $137.53M | $0 | 0.0% |
| 2007 | $95.16M | $0 | 0.0% |
| 2006 | $46.99M | $0 | 0.0% |
| 2005 | $30.12M | $0 | 0.0% |
| 2004 | $7.00M | $0 | 0.0% |
| 2003 | ($44.94M) | $0 | N/A (Loss) |
| 2002 | ($101.83M) | $0 | N/A (Loss) |
| 2001 | $13.00M | $0 | 0.0% |
| 2000 | $47.52M | $0 | 0.0% |
| 1999 | ($185.80M) | $0 | N/A (Loss) |
| 1998 | ($130.60M) | $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.
