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 55.49% is 19% above its 2-year average of 46.81%, near the high end of its 2-year range (24.69%–65.63%).
As of the fiscal period ended Sunday, June 28, 2026. 4.65% above its 12-month average of 53.02%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
55.49%
FCF PAYOUT RATIO AVG TTM
53.02%
FCF PAYOUT RATIO AVG 3Y
46.81%
FCF PAYOUT RATIO AVG 5Y
46.81%
FCF PAYOUT RATIO AVG 10Y
49.06%
FCF PAYOUT RATIO AVG 15Y
51.02%
FCF PAYOUT RATIO AVG 20Y
51.02%
CURRENT VS TTM AVG
+4.65%
CURRENT VS 3Y AVG
+18.55%
CURRENT VS 5Y AVG
+18.55%
CURRENT VS 10Y AVG
+13.09%
CURRENT VS 15Y AVG
+8.75%
CURRENT VS 20Y AVG
+8.75%
FCF Payout Ratio TTM
55.5%
Earnings Payout Ratio
47.3%
Dividend Yield
5.41%
FCF Yield
9.23%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $718.00M | $396.00M | 55.2% |
| 2024 | $787.00M | $288.00M | 36.6% |
| 2023 | $633.00M | $323.00M | 51.0% |
| 2022 | $179.00M | $496.00M | 277.1% |
| 2021 | $573.00M | $192.00M | 33.5% |
| 2015 | $422.60M | $30.00M |
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 |
|---|---|
| 2026-06-28 | 55.49% |
| 2026-03-29 | 48.65% |
| 2025-12-28 | 54.85% |
| 2025-09-28 | 65.63% |
| 2025-06-29 | 40.51% |
| 2025-03-30 | 24.69% |
| 2024-12-29 | 36.59% |
| 2024-09-30 | 35.94% |
| 2024-06-30 | 30.49% |
| 2024-03-31 | 56.67% |
| 2023-12-31 | 65.37% |
| 2016-10-02 | 73.91% |
| 2016-07-03 | 141.16% |
| 2016-04-03 | 74.49% |
| 1998-02-01 | 14.29% |
| 1997-10-26 | 1.45% |
| 7.1% |
| 2014 | $511.70M | $0 | 0.0% |
| 2013 | ($105.30M) | $0 | N/A (Loss) |
| 2012 | $279.40M | $0 | 0.0% |
| 2011 | $439.60M | $0 | 0.0% |
| 2010 | $83.50M | $0 | 0.0% |
| 2009 | $130.10M | $0 | 0.0% |
| 2008 | ($446.20M) | $0 | N/A (Loss) |
| 2007 | ($258.60M) | $0 | N/A (Loss) |
| 2006 | $96.00M | $0 | 0.0% |
| 2005 | ($111.10M) | $0 | N/A (Loss) |
| 2004 | $213.00M | $0 | 0.0% |
| 2003 | ($113.90M) | $0 | N/A (Loss) |
| 2002 | $135.60M | $0 | 0.0% |
| 2001 | $74.16M | $0 | 0.0% |
| 2000 | $24.84M | $0 | 0.0% |
| 1999 | ($123.30M) | $0 | N/A (Loss) |
| 1998 | ($3.20M) | $0 | N/A (Loss) |
| 1997 | ($25.80M) | $1.20M | N/A (Loss) |
| 1996 | ($62.80M) | $1.20M | N/A (Loss) |
| 1995 | ($43.40M) | $0.70M | N/A (Loss) |
| 1994 | $4.50M | $0 | 0.0% |
| 1993 | ($116.20M) | $0.40M | N/A (Loss) |
| 1992 | ($23.50M) | $0 | N/A (Loss) |
| 1991 | ($4.60M) | $0 | N/A (Loss) |
