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 91.03% is 29% below its 5-year average of 127.92%, near the low end of its 5-year range (33.81%–864.13%).
As of the fiscal period ended Tuesday, June 30, 2026. 62.73% below its 12-month average of 244.27%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
91.03%
FCF PAYOUT RATIO AVG TTM
244.27%
FCF PAYOUT RATIO AVG 3Y
179.61%
FCF PAYOUT RATIO AVG 5Y
67.68%
FCF PAYOUT RATIO AVG 10Y
55.76%
FCF PAYOUT RATIO AVG 15Y
46.64%
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-62.73%
CURRENT VS 3Y AVG
-49.31%
CURRENT VS 5Y AVG
+34.50%
CURRENT VS 10Y AVG
+63.27%
CURRENT VS 15Y AVG
+95.20%
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
91.0%
Earnings Payout Ratio
131.8%
Dividend Yield
3.66%
FCF Yield
4.02%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $1.20B | $900.00M | 75.0% |
| 2024 | $17.00M | $650.00M | n/m |
| 2023 | $695.36M | $431.57M | 62.1% |
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 |
|---|---|
| 2026-06-30 | 91.03% |
| 2026-03-31 | 89.24% |
| 2025-12-31 | 75.00% |
| 2025-09-30 | 101.97% |
| 2025-06-30 | 864.13% |
| 2024-09-30 | 415.83% |
| 2024-06-30 | 95.11% |
| 2024-03-31 | 85.04% |
| 2023-12-31 | 66.65% |
| 2023-09-30 | 45.84% |
| 2023-06-30 | 45.83% |
| 2023-03-31 | 33.81% |
| 2022-12-31 | 45.02% |
| 2022-09-30 | 70.94% |
| 2022-06-30 | 83.97% |
| 2022-03-31 | 64.05% |
| 2021-12-31 | 56.51% |
| 2021-09-30 | 48.40% |
| 2021-06-30 | 52.19% |
| 2021-03-31 | 35.99% |
| 2020-12-31 | 23.93% |
| 2020-09-30 | 20.26% |
| 2020-06-30 | 8.48% |
| 2020-03-31 | 25.52% |
| 2019-12-31 | 43.58% |
| 2019-09-30 | 43.65% |
| 2019-06-30 | 43.31% |
| 2019-03-31 | 42.82% |
| 2018-12-31 | 42.95% |
| 2018-09-30 | 58.12% |
| 2018-06-30 | 57.05% |
| 2018-03-31 | 77.49% |
| 2017-12-31 | 68.06% |
| 2017-09-30 | 63.68% |
| 2017-06-30 | 57.27% |
| 2017-03-31 | 50.09% |
| 2016-12-31 | 50.72% |
| 2016-09-30 | 48.30% |
| 2016-06-30 | 51.10% |
| 2016-03-31 | 42.82% |
| 2015-12-31 | 40.77% |
| 2015-09-30 | 55.78% |
| 2015-06-30 | 50.99% |
| 2015-03-31 | 39.41% |
| 2014-12-31 | 31.78% |
| 2014-09-30 | 30.44% |
| 2014-06-30 | 24.15% |
| 2014-03-31 | 7.98% |
| 2013-12-31 | 10.34% |
| 2013-09-30 | 5.63% |
| 2013-06-30 | 6.56% |
| 2013-03-31 | 7.62% |
| 2012-12-31 | 7.72% |
| 2012-09-30 | 0.16% |
| 2022 |
| $538.18M |
| $373.41M |
| 69.4% |
| 2021 | $532.82M | $406.34M | 76.3% |
| 2020 | $1.10B | $390.64M | 35.5% |
| 2019 | $667.52M | $299.19M | 44.8% |
| 2018 | $628.40M | $278.85M | 44.4% |
| 2017 | $410.46M | $275.08M | 67.0% |
| 2016 | $325.20M | $183.62M | 56.5% |
| 2015 | $403.81M | $167.46M | 41.5% |
| 2014 | $426.67M | $157.43M | 36.9% |
| 2013 | $534.62M | $133.18M | 24.9% |
| 2012 | $423.72M | $87.18M | 20.6% |
| 2011 | $591.23M | $0 | 0.0% |
| 2010 | $99.74M | $0 | 0.0% |
| 2009 | $314.18M | $0 | 0.0% |
| 2008 | $407.48M | $135.83M | 33.3% |
| 2007 | $32.10M | $0 | 0.0% |
| 2006 | ($85.56M) | $0 | N/A (Loss) |
| 2005 | $14.27M | $0 | 0.0% |
| 2004 | $210.04M | $0 | 0.0% |
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.
