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 40.19% is 31% below its 5-year average of 58.48%, near the low end of its 5-year range (32.04%–82.42%).
As of the fiscal period ended Thursday, April 30, 2026. 29.25% below its 12-month average of 56.81%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
40.19%
FCF PAYOUT RATIO AVG TTM
56.81%
FCF PAYOUT RATIO AVG 3Y
58.00%
FCF PAYOUT RATIO AVG 5Y
58.48%
FCF PAYOUT RATIO AVG 10Y
48.62%
FCF PAYOUT RATIO AVG 15Y
46.23%
FCF PAYOUT RATIO AVG 20Y
42.36%
CURRENT VS TTM AVG
-29.25%
CURRENT VS 3Y AVG
-30.71%
CURRENT VS 5Y AVG
-31.27%
CURRENT VS 10Y AVG
-17.33%
CURRENT VS 15Y AVG
-13.07%
CURRENT VS 20Y AVG
-5.13%
FCF Payout Ratio TTM
40.2%
Earnings Payout Ratio
N/A
Dividend Yield
3.72%
FCF Yield
9.16%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $1.16B | $464.70M | 40.2% |
| 2025 | $816.60M | $455.40M | 55.8% |
| 2024 | $642.90M | $437.50M | 68.1% |
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 |
|---|---|
| 2026-04-30 | 40.19% |
| 2026-01-31 | 47.61% |
| 2025-10-31 | 72.40% |
| 2025-07-31 | 68.06% |
| 2025-04-30 | 55.77% |
| 2025-01-31 | 55.56% |
| 2024-10-31 | 49.35% |
| 2024-07-31 | 71.16% |
| 2024-04-30 | 68.05% |
| 2024-01-31 | 67.37% |
| 2023-10-31 | 51.35% |
| 2023-07-31 | 47.19% |
| 2023-04-30 | 60.00% |
| 2023-01-31 | 67.10% |
| 2022-10-31 | 82.42% |
| 2022-07-31 | 81.66% |
| 2022-04-30 | 58.17% |
| 2022-01-31 | 60.12% |
| 2021-10-31 | 52.22% |
| 2021-07-31 | 40.20% |
| 2021-04-30 | 32.04% |
| 2021-01-31 | 31.47% |
| 2020-10-31 | 30.16% |
| 2020-07-31 | 34.24% |
| 2020-04-30 | 40.26% |
| 2020-01-31 | 41.14% |
| 2019-10-31 | 47.30% |
| 2019-07-31 | 48.97% |
| 2019-04-30 | 48.36% |
| 2019-01-31 | 46.14% |
| 2018-10-31 | 42.15% |
| 2018-07-31 | 44.05% |
| 2018-04-30 | 39.09% |
| 2018-01-31 | 38.66% |
| 2017-10-31 | 39.53% |
| 2017-07-31 | 37.96% |
| 2017-04-30 | 39.15% |
| 2017-01-31 | 34.85% |
| 2016-10-31 | 29.95% |
| 2016-07-31 | 26.64% |
| 2016-04-30 | 25.19% |
| 2016-01-31 | 27.46% |
| 2015-10-31 | 29.29% |
| 2015-07-31 | 34.16% |
| 2015-04-30 | 52.32% |
| 2015-01-31 | 51.38% |
| 2014-10-31 | 53.13% |
| 2014-07-31 | 50.99% |
| 2014-04-30 | 41.28% |
| 2014-01-31 | 42.31% |
| 2013-10-31 | 48.44% |
| 2013-07-31 | 39.91% |
| 2013-04-30 | 34.85% |
| 2013-01-31 | 31.03% |
| 2012-10-31 | 27.95% |
| 2012-07-31 | 30.78% |
| 2012-04-30 | 46.79% |
| 2012-01-31 | 104.86% |
| 2011-10-31 | 114.18% |
| 2011-07-31 | 140.62% |
| 2011-04-30 | 91.74% |
| 2011-01-31 | 39.83% |
| 2010-10-31 | 40.84% |
| 2010-07-31 | 29.94% |
| 2010-04-30 | 28.83% |
| 2010-01-31 | 30.78% |
| 2009-10-31 | 25.19% |
| 2009-07-31 | 31.82% |
| 2009-04-30 | 16.46% |
| 2009-01-31 | 17.51% |
| 2008-10-31 | 80.14% |
| 2008-07-31 | 44.03% |
| 2008-04-30 | 59.12% |
| 2008-01-31 | 39.09% |
| 2007-10-31 | 45.49% |
| 2007-07-31 | 39.69% |
| 2007-04-30 | 29.40% |
| 2007-01-31 | 28.52% |
| 2006-10-31 | 34.77% |
| 2006-07-31 | 35.97% |
| 2006-04-30 | 46.37% |
| 2006-01-31 | 51.39% |
| 2005-10-31 | 38.78% |
| 2005-07-31 | 35.30% |
| 2005-04-30 | 52.48% |
| 2005-01-31 | 74.43% |
| 2004-10-31 | 186.59% |
| 2004-04-30 | 176.94% |
| 2004-01-31 | 61.61% |
| 2003-10-31 | 32.99% |
| 2003-07-31 | 17.74% |
| 2003-04-30 | 11.22% |
| 2023 |
| $717.00M |
| $430.20M |
| 60.0% |
| 2022 | $718.80M | $418.10M | 58.2% |
| 2021 | $1.26B | $403.20M | 32.0% |
| 2020 | $985.50M | $396.80M | 40.3% |
| 2019 | $781.40M | $377.90M | 48.4% |
| 2018 | $896.10M | $350.30M | 39.1% |
| 2017 | $866.60M | $339.30M | 39.2% |
| 2016 | $1.26B | $316.60M | 25.2% |
| 2015 | $485.50M | $254.00M | 52.3% |
| 2014 | $576.50M | $238.00M | 41.3% |
| 2013 | $649.34M | $222.79M | 34.3% |
| 2012 | $456.69M | $213.67M | 46.8% |
| 2011 | $211.48M | $194.02M | 91.7% |
| 2010 | $576.50M | $166.22M | 28.8% |
| 2009 | $335.92M | $384.88M | 114.6% |
| 2008 | $115.15M | $68.07M | 59.1% |
| 2007 | $216.42M | $63.63M | 29.4% |
| 2006 | $135.11M | $62.66M | 46.4% |
| 2005 | $106.83M | $56.06M | 52.5% |
| 2004 | $25.84M | $45.72M | 176.9% |
| 2003 | $116.44M | $33.60M | 28.9% |
| 2002 | $43.54M | $15.57M | 35.8% |
| 2001 | $58.81M | $16.69M | 28.4% |
| 2000 | $1.36M | $17.21M | n/m |
| 1999 | $4.83M | $16.25M | 336.2% |
| 1998 | $31.98M | $15.10M | 47.2% |
| 1997 | $43.77M | $15.11M | 34.5% |
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.
