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 26.69% is 21% below its 5-year average of 33.97%, near the low end of its 5-year range (23.96%–51.52%).
As of the fiscal period ended Tuesday, June 30, 2026. 5.92% above its 12-month average of 25.19%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
26.69%
FCF PAYOUT RATIO AVG TTM
25.19%
FCF PAYOUT RATIO AVG 3Y
29.82%
FCF PAYOUT RATIO AVG 5Y
33.09%
FCF PAYOUT RATIO AVG 10Y
33.59%
FCF PAYOUT RATIO AVG 15Y
35.56%
FCF PAYOUT RATIO AVG 20Y
32.12%
CURRENT VS TTM AVG
+5.92%
CURRENT VS 3Y AVG
-10.52%
CURRENT VS 5Y AVG
-19.35%
CURRENT VS 10Y AVG
-20.55%
CURRENT VS 15Y AVG
-24.96%
CURRENT VS 20Y AVG
-16.92%
FCF Payout Ratio TTM
26.7%
Earnings Payout Ratio
31.8%
Dividend Yield
1.06%
FCF Yield
4.24%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $972.40M | $241.80M | 24.9% |
| 2025 | $778.00M | $219.88M | 28.3% |
| 2024 | $612.95M | $200.57M | 32.7% |
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 | 26.69% |
| 2026-03-31 | 24.87% |
| 2025-12-31 | 25.73% |
| 2025-09-30 | 23.96% |
| 2025-06-30 | 24.72% |
| 2025-03-31 | 28.26% |
| 2024-12-31 | 28.65% |
| 2024-09-30 | 30.94% |
| 2024-06-30 | 34.60% |
| 2024-03-31 | 32.72% |
| 2023-12-31 | 32.96% |
| 2023-09-30 | 35.73% |
| 2023-06-30 | 37.86% |
| 2023-03-31 | 46.46% |
| 2022-12-31 | 51.52% |
| 2022-09-30 | 44.15% |
| 2022-06-30 | 36.44% |
| 2022-03-31 | 41.07% |
| 2021-12-31 | 37.47% |
| 2021-09-30 | 36.31% |
| 2021-06-30 | 32.19% |
| 2021-03-31 | 29.72% |
| 2020-12-31 | 27.57% |
| 2020-09-30 | 32.13% |
| 2020-06-30 | 32.75% |
| 2020-03-31 | 32.72% |
| 2019-12-31 | 35.38% |
| 2019-09-30 | 33.88% |
| 2019-06-30 | 34.22% |
| 2019-03-31 | 32.16% |
| 2018-12-31 | 33.84% |
| 2018-09-30 | 34.24% |
| 2018-06-30 | 32.81% |
| 2018-03-31 | 35.23% |
| 2017-12-31 | 34.82% |
| 2017-09-30 | 35.15% |
| 2017-06-30 | 38.15% |
| 2017-03-31 | 37.10% |
| 2016-12-31 | 32.12% |
| 2016-09-30 | 40.35% |
| 2016-06-30 | 46.91% |
| 2016-03-31 | 50.83% |
| 2015-12-31 | 76.77% |
| 2015-09-30 | 42.54% |
| 2015-06-30 | 35.27% |
| 2015-03-31 | 33.28% |
| 2014-12-31 | 33.80% |
| 2014-09-30 | 32.05% |
| 2014-06-30 | 36.65% |
| 2014-03-31 | 39.25% |
| 2013-12-31 | 46.81% |
| 2013-09-30 | 43.14% |
| 2013-06-30 | 42.19% |
| 2013-03-31 | 30.77% |
| 2012-12-31 | 29.65% |
| 2012-09-30 | 32.84% |
| 2012-06-30 | 29.93% |
| 2012-03-31 | 46.63% |
| 2011-12-31 | 52.35% |
| 2011-09-30 | 98.44% |
| 2011-06-30 | 183.37% |
| 2011-03-31 | 82.45% |
| 2010-12-31 | 39.03% |
| 2010-09-30 | 107.69% |
| 2010-06-30 | 82.88% |
| 2010-03-31 | 79.63% |
| 2009-12-31 | 80.47% |
| 2009-09-30 | 14.60% |
| 2009-06-30 | 15.52% |
| 2009-03-31 | 13.96% |
| 2008-12-31 | 15.21% |
| 2008-09-30 | 15.30% |
| 2008-06-30 | 15.68% |
| 2008-03-31 | 16.90% |
| 2007-12-31 | 15.11% |
| 2007-09-30 | 16.80% |
| 2007-06-30 | 16.34% |
| 2007-03-31 | 25.19% |
| 2006-12-31 | 20.77% |
| 2006-09-30 | 23.27% |
| 2006-06-30 | 18.57% |
| 2006-03-31 | 9.87% |
| 2005-12-31 | 8.23% |
| 2005-09-30 | 4.54% |
| 2005-06-30 | 2.86% |
| 2023 |
| $394.98M |
| $183.50M |
| 46.5% |
| 2022 | $397.25M | $163.17M | 41.1% |
| 2021 | $450.38M | $133.84M | 29.7% |
| 2020 | $376.04M | $123.03M | 32.7% |
| 2019 | $349.79M | $112.50M | 32.2% |
| 2018 | $292.18M | $102.93M | 35.2% |
| 2017 | $251.19M | $93.19M | 37.1% |
| 2016 | $128.27M | $65.20M | 50.8% |
| 2015 | $160.78M | $53.51M | 33.3% |
| 2014 | $123.26M | $48.38M | 39.3% |
| 2013 | $140.40M | $43.20M | 30.8% |
| 2012 | $82.69M | $38.56M | 46.6% |
| 2011 | $40.30M | $33.23M | 82.4% |
| 2010 | $180.87M | $144.02M | 79.6% |
| 2009 | $126.50M | $17.66M | 14.0% |
| 2008 | $86.43M | $14.61M | 16.9% |
| 2007 | $46.72M | $11.77M | 25.2% |
| 2006 | $110.78M | $10.94M | 9.9% |
| 2005 | $93.33M | $0 | 0.0% |
| 2004 | $62.43M | $0 | 0.0% |
| 2003 | $74.70M | $0 | 0.0% |
| 2002 | $76.34M | $0 | 0.0% |
| 2001 | $51.32M | $0 | 0.0% |
| 2000 | ($6.02M) | $0 | N/A (Loss) |
| 1999 | ($54.20M) | $0 | N/A (Loss) |
| 1998 | ($153.70M) | $0 | N/A (Loss) |
| 1997 | ($4.20M) | $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.
