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 69.20% is 21% below its 5-year average of 87.96%, near the low end of its 5-year range (24.09%–342.85%).
As of the fiscal period ended Saturday, April 4, 2026. 30.23% below its 12-month average of 99.18%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
69.20%
FCF PAYOUT RATIO AVG TTM
99.18%
FCF PAYOUT RATIO AVG 3Y
75.05%
FCF PAYOUT RATIO AVG 5Y
60.97%
FCF PAYOUT RATIO AVG 10Y
46.21%
FCF PAYOUT RATIO AVG 15Y
46.28%
FCF PAYOUT RATIO AVG 20Y
40.56%
CURRENT VS TTM AVG
-30.23%
CURRENT VS 3Y AVG
-7.80%
CURRENT VS 5Y AVG
+13.50%
CURRENT VS 10Y AVG
+49.76%
CURRENT VS 15Y AVG
+49.51%
CURRENT VS 20Y AVG
+70.60%
FCF Payout Ratio TTM
69.2%
Earnings Payout Ratio
125.3%
Dividend Yield
3.52%
FCF Yield
5.06%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $687.90M | $500.60M | 72.8% |
| 2024 | $753.00M | $491.20M | 65.2% |
| 2023 | $852.60M | $482.60M | 56.6% |
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 |
|---|---|
| 2026-04-04 | 69.20% |
| 2026-01-03 | 72.77% |
| 2025-09-27 | 134.82% |
| 2025-06-28 | 119.95% |
| 2025-03-29 | 64.59% |
| 2024-12-31 | 65.23% |
| 2024-09-28 | 58.53% |
| 2024-06-29 | 48.67% |
| 2024-03-30 | 68.22% |
| 2023-12-31 | 56.60% |
| 2023-09-30 | 67.01% |
| 2021-12-31 | 342.85% |
| 2021-10-02 | 38.88% |
| 2021-07-03 | 24.09% |
| 2021-04-03 | 24.24% |
| 2020-12-31 | 26.92% |
| 2020-09-26 | 29.13% |
| 2020-06-27 | 42.94% |
| 2020-03-28 | 36.81% |
| 2019-12-31 | 37.19% |
| 2019-09-28 | 38.26% |
| 2019-06-29 | 38.30% |
| 2019-03-30 | 55.09% |
| 2018-12-31 | 50.07% |
| 2018-09-29 | 76.45% |
| 2018-06-30 | 55.48% |
| 2018-03-31 | 50.78% |
| 2017-12-31 | 37.17% |
| 2017-09-30 | 39.44% |
| 2017-07-01 | 42.95% |
| 2017-04-01 | 31.13% |
| 2016-12-31 | 29.07% |
| 2016-10-01 | 28.85% |
| 2016-07-02 | 28.37% |
| 2016-04-02 | 33.13% |
| 2015-12-31 | 36.73% |
| 2015-10-03 | 39.52% |
| 2015-07-04 | 38.85% |
| 2015-04-04 | 33.78% |
| 2014-12-31 | 32.43% |
| 2014-09-27 | 32.37% |
| 2014-06-28 | 39.31% |
| 2014-03-29 | 60.49% |
| 2013-12-31 | 62.24% |
| 2013-09-28 | 107.40% |
| 2013-06-29 | 91.52% |
| 2013-03-30 | 70.07% |
| 2012-12-31 | 52.40% |
| 2012-09-29 | 48.67% |
| 2012-06-30 | 43.76% |
| 2012-03-31 | 50.15% |
| 2011-12-31 | 39.60% |
| 2011-10-01 | 43.10% |
| 2011-07-02 | 33.56% |
| 2011-04-02 | 27.78% |
| 2010-12-31 | 24.11% |
| 2010-10-02 | 23.00% |
| 2010-07-03 | 21.13% |
| 2010-04-03 | 22.46% |
| 2009-12-31 | 23.23% |
| 2009-10-03 | 36.03% |
| 2009-07-04 | 38.39% |
| 2009-04-04 | 36.35% |
| 2008-12-31 | 26.34% |
| 2008-09-27 | 21.40% |
| 2008-06-28 | 22.36% |
| 2008-03-29 | 21.01% |
| 2007-12-31 | 21.83% |
| 2007-09-29 | 26.88% |
| 2007-06-30 | 28.32% |
| 2007-03-31 | 27.34% |
| 2006-12-31 | 26.80% |
| 2006-09-30 | 23.93% |
| 2006-07-01 | 26.45% |
| 2006-04-01 | 28.97% |
| 2005-12-31 | 30.71% |
| 2005-10-01 | 33.57% |
| 2005-07-02 | 30.18% |
| 2005-04-02 | 27.93% |
| 2004-12-31 | 27.85% |
| 2004-10-02 | 22.02% |
| 2004-07-03 | 18.93% |
| 2004-04-03 | 20.04% |
| 2003-12-31 | 20.26% |
| 2003-09-27 | 27.41% |
| 2003-06-28 | 32.24% |
| 2003-03-29 | 30.11% |
| 2022 |
| ($1.99B) |
| $471.60M |
| N/A (Loss) |
| 2021 | $144.00M | $493.70M | 342.8% |
| 2020 | $1.67B | $450.60M | 26.9% |
| 2019 | $1.08B | $402.00M | 37.2% |
| 2018 | $768.80M | $384.90M | 50.1% |
| 2017 | $976.20M | $362.90M | 37.2% |
| 2016 | $1.14B | $330.90M | 29.1% |
| 2015 | $870.90M | $319.90M | 36.7% |
| 2014 | $990.60M | $321.30M | 32.4% |
| 2013 | $502.40M | $312.70M | 62.2% |
| 2012 | $580.20M | $304.00M | 52.4% |
| 2011 | $696.80M | $275.90M | 39.6% |
| 2010 | $935.40M | $201.60M | 21.6% |
| 2009 | $553.80M | $201.60M | 36.4% |
| 2008 | $419.30M | $99.00M | 23.6% |
| 2007 | $457.20M | $99.80M | 21.8% |
| 2006 | $358.60M | $96.10M | 26.8% |
| 2005 | $309.00M | $94.90M | 30.7% |
| 2004 | $316.70M | $89.40M | 28.2% |
| 2003 | $424.90M | $86.10M | 20.3% |
| 2002 | $247.90M | $85.60M | 34.5% |
| 2001 | $165.90M | $80.50M | 48.5% |
| 2000 | $176.40M | $78.30M | 44.4% |
| 1999 | $144.40M | $77.50M | 53.7% |
| 1998 | ($100.60M) | $73.90M | N/A (Loss) |
| 1997 | $167.90M | $68.60M | 40.9% |
| 1996 | $181.20M | $67.60M | 37.3% |
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.
