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 66.87% is 59% above its 5-year average of 41.99%, near the high end of its 5-year range (25.27%–66.87%).
As of the fiscal period ended Sunday, June 28, 2026. 18.02% above its 12-month average of 56.66%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
66.87%
FCF PAYOUT RATIO AVG TTM
56.66%
FCF PAYOUT RATIO AVG 3Y
37.14%
FCF PAYOUT RATIO AVG 5Y
39.38%
FCF PAYOUT RATIO AVG 10Y
34.21%
FCF PAYOUT RATIO AVG 15Y
33.18%
FCF PAYOUT RATIO AVG 20Y
34.28%
CURRENT VS TTM AVG
+18.02%
CURRENT VS 3Y AVG
+80.04%
CURRENT VS 5Y AVG
+69.79%
CURRENT VS 10Y AVG
+95.48%
CURRENT VS 15Y AVG
+101.55%
CURRENT VS 20Y AVG
+95.08%
FCF Payout Ratio TTM
66.9%
Earnings Payout Ratio
48.5%
Dividend Yield
2.27%
FCF Yield
4.78%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $1.01B | $462.20M | 46.0% |
| 2024 | $1.13B | $406.40M | 35.8% |
| 2023 | $1.06B | $355.60M | 33.6% |
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 | 66.87% |
| 2026-04-04 | 63.62% |
| 2026-01-03 | 66.72% |
| 2025-09-27 | 43.62% |
| 2025-06-28 | 42.47% |
| 2025-03-29 | 38.83% |
| 2024-12-28 | 35.84% |
| 2024-09-28 | 34.56% |
| 2024-06-29 | 33.29% |
| 2024-03-30 | 33.20% |
| 2023-12-31 | 33.57% |
| 2023-09-30 | 35.38% |
| 2023-07-01 | 40.65% |
| 2023-04-01 | 46.49% |
| 2022-12-31 | 52.98% |
| 2022-10-01 | 49.75% |
| 2022-07-02 | 43.86% |
| 2022-04-02 | 36.98% |
| 2021-12-31 | 30.76% |
| 2021-10-02 | 27.16% |
| 2021-07-03 | 25.27% |
| 2021-04-03 | 23.98% |
| 2020-12-31 | 25.80% |
| 2020-09-26 | 28.48% |
| 2020-06-27 | 32.05% |
| 2020-03-28 | 37.74% |
| 2019-12-31 | 37.66% |
| 2019-09-28 | 35.50% |
| 2019-06-29 | 34.54% |
| 2019-03-30 | 30.95% |
| 2018-12-31 | 28.50% |
| 2018-09-29 | 28.56% |
| 2018-06-30 | 28.94% |
| 2018-03-31 | 30.84% |
| 2017-12-31 | 32.18% |
| 2017-09-30 | 33.40% |
| 2017-07-01 | 30.89% |
| 2017-04-01 | 28.14% |
| 2016-12-31 | 29.92% |
| 2016-10-01 | 29.08% |
| 2016-07-02 | 28.15% |
| 2016-04-02 | 27.69% |
| 2015-12-31 | 30.74% |
| 2015-10-03 | 33.53% |
| 2015-07-04 | 34.92% |
| 2015-04-04 | 36.74% |
| 2014-12-31 | 33.91% |
| 2014-09-27 | 30.09% |
| 2014-06-28 | 29.12% |
| 2014-03-29 | 28.85% |
| 2013-12-31 | 28.57% |
| 2013-09-28 | 29.30% |
| 2013-06-29 | 30.03% |
| 2013-03-30 | 31.19% |
| 2012-12-31 | 32.61% |
| 2012-09-29 | 35.44% |
| 2012-06-30 | 38.76% |
| 2012-03-31 | 76.98% |
| 2011-12-31 | 113.97% |
| 2011-10-01 | 164.91% |
| 2011-07-02 | 444.58% |
| 2011-04-02 | 77.53% |
| 2010-12-31 | 79.84% |
| 2010-10-02 | 52.13% |
| 2010-07-03 | 34.87% |
| 2010-04-03 | 24.06% |
| 2009-12-31 | 24.41% |
| 2009-10-03 | 31.06% |
| 2009-07-04 | 42.51% |
| 2009-04-04 | 84.16% |
| 2008-12-31 | 49.40% |
| 2008-09-27 | 44.71% |
| 2008-06-28 | 35.05% |
| 2008-03-29 | 30.96% |
| 2007-12-31 | 38.30% |
| 2007-09-29 | 37.86% |
| 2007-06-30 | 33.60% |
| 2007-03-31 | 42.52% |
| 2006-12-31 | 41.60% |
| 2006-09-30 | 29.41% |
| 2006-07-01 | 29.90% |
| 2006-04-01 | 31.49% |
| 2005-12-31 | 31.93% |
| 2005-10-01 | 64.94% |
| 2005-07-02 | 86.62% |
| 2005-04-02 | 62.81% |
| 2005-02-01 | 53.38% |
| 2004-10-02 | 43.09% |
| 2004-07-03 | 32.51% |
| 2004-04-03 | 36.18% |
| 2003-12-31 | 39.43% |
| 2003-09-27 | 27.62% |
| 2003-06-28 | 31.28% |
| 2022 |
| $896.50M |
| $275.80M |
| 30.8% |
| 2022 | $591.00M | $313.10M | 53.0% |
| 2021 | $943.00M | $243.30M | 25.8% |
| 2019 | $575.20M | $216.60M | 37.7% |
| 2018 | $673.60M | $192.00M | 28.5% |
| 2017 | $526.50M | $169.40M | 32.2% |
| 2016 | $493.00M | $147.50M | 29.9% |
| 2015 | $416.10M | $127.90M | 30.7% |
| 2014 | $317.30M | $107.60M | 33.9% |
| 2013 | $322.00M | $92.00M | 28.6% |
| 2012 | $249.90M | $81.50M | 32.6% |
| 2011 | $67.30M | $76.70M | 114.0% |
| 2010 | $89.30M | $71.30M | 79.8% |
| 2009 | $282.70M | $69.00M | 24.4% |
| 2008 | $141.10M | $69.70M | 49.4% |
| 2007 | $169.20M | $64.80M | 38.3% |
| 2006 | $152.90M | $63.60M | 41.6% |
| 2005 | $108.10M | $57.70M | 53.4% |
| 2005 | $181.00M | $57.80M | 31.9% |
| 2003 | $147.60M | $58.20M | 39.4% |
| 2002 | $178.30M | $56.50M | 31.7% |
| 2001 | $110.10M | $55.60M | 50.5% |
| 2000 | $132.60M | $55.00M | 41.5% |
| 1999 | ($240.40M) | $52.70M | N/A (Loss) |
| 1998 | ($51.30M) | $51.00M | N/A (Loss) |
| 1997 | $76.50M | $49.90M | 65.2% |
| 1996 | $77.40M | $46.30M | 59.8% |
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.
