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 16.10% is 43% below its 4-year average of 28.28%, near the low end of its 4-year range (11.69%–61.21%).
As of the fiscal period ended Tuesday, June 30, 2026. 52.29% below its 12-month average of 33.75%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
16.10%
FCF PAYOUT RATIO AVG TTM
33.75%
FCF PAYOUT RATIO AVG 3Y
33.75%
FCF PAYOUT RATIO AVG 5Y
28.28%
FCF PAYOUT RATIO AVG 10Y
14.42%
FCF PAYOUT RATIO AVG 15Y
23.74%
FCF PAYOUT RATIO AVG 20Y
19.42%
CURRENT VS TTM AVG
-52.29%
CURRENT VS 3Y AVG
-52.29%
CURRENT VS 5Y AVG
-43.06%
CURRENT VS 10Y AVG
+11.69%
CURRENT VS 15Y AVG
-32.17%
CURRENT VS 20Y AVG
-17.09%
FCF Payout Ratio TTM
16.1%
Earnings Payout Ratio
17.5%
Dividend Yield
0.53%
FCF Yield
3.24%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | ($740.70M) | $178.99M | N/A (Loss) |
| 2024 | $107.71M | $357.18M | 331.6% |
| 2023 | ($193.15M) | $388.57M | N/A (Loss) |
| 2022 | $1.86B | $392.46M | 21.1% |
| 2021 | $83.01M | $83.80M | 101.0% |
| 2020 | ($1.62B) | $83.19M | N/A (Loss) |
| 2019 | $12.31M | $85.40M | 693.8% |
| 2018 | $1.34B | $126.04M | 9.4% |
| 2017 | $2.18B | $273.31M | 12.5% |
| 2016 | $864.34M | $43.11M | 5.0% |
| 2015 | ($203.66M) | $270.10M | N/A (Loss) |
| 2014 | $55.89M | $445.43M | 796.9% |
| 2013 | $259.61M | $490.05M | 188.8% |
| 2012 | $993.30M | $472.47M | 47.6% |
| 2011 | $2.66B | $346.57M | 13.0% |
| 2010 | $1.94B | $118.17M | 6.1% |
| 2009 | $2.27B | $65.47M | 2.9% |
| 2008 | $1.01B | $444.72M | 44.2% |
| 2007 | $1.15B | $426.40M | 37.1% |
| 2006 | $2.07B | $253.70M | 12.2% |
| 2005 | $1.14B | $69.66M | 6.1% |
| 2004 | $751.12M | $49.91M | 6.6% |
| 2003 | $183.47M | $28.52M | 15.5% |
| 2002 | $41.33M | $23.53M | 56.9% |
| 2001 | ($29.53M) | $21.99M | N/A (Loss) |
| 2000 | $28.69M | $18.01M | 62.8% |
| 1999 | ($71.83M) | $14.50M | N/A (Loss) |
| 1998 | $25.48M | $12.41M | 48.7% |
| 1997 | ($43.57M) | $13.57M | N/A (Loss) |
| 1996 | ($3.36M) | $14.08M | 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.
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 | 16.10% |
| 2026-03-31 | 51.40% |
| 2023-03-31 | 61.21% |
| 2022-12-31 | 20.85% |
| 2022-09-30 | 11.94% |
| 2022-06-30 | 11.69% |
| 2022-03-31 | 24.75% |
| 2019-12-31 | 675.24% |
| 2019-09-30 | 23.50% |
| 2019-06-30 | 18.08% |
| 2019-03-31 | 14.57% |
| 2018-12-31 | 9.56% |
| 2018-09-30 | 16.81% |
| 2018-06-30 | 16.44% |
| 2018-03-31 | 15.43% |
| 2017-12-31 | 12.69% |
| 2017-09-30 | 3.94% |
| 2017-06-30 | 2.88% |
| 2017-03-31 | 2.89% |
| 2016-12-31 | 5.07% |
| 2016-09-30 | 32.34% |
| 2014-12-31 | 972.64% |
| 2014-03-31 | 934.46% |
| 2013-12-31 | 190.11% |
| 2013-09-30 | 122.12% |
| 2013-06-30 | 95.71% |
| 2013-03-31 | 60.39% |
| 2012-12-31 | 48.10% |
| 2012-09-30 | 29.53% |
| 2012-06-30 | 16.40% |
| 2012-03-31 | 17.26% |
| 2011-12-31 | 14.69% |
| 2011-09-30 | 19.06% |
| 2011-06-30 | 15.15% |
| 2011-03-31 | 13.93% |
| 2010-12-31 | 5.40% |
| 2010-09-30 | 0.78% |
| 2010-06-30 | 0.74% |
| 2010-03-22 | 0.80% |
| 2009-09-30 | 0.01% |
| 2009-06-30 | 11.31% |
| 2009-03-31 | 11.41% |
| 2008-12-31 | 37.68% |
| 2008-09-30 | 35.10% |
| 2008-06-30 | 30.13% |
| 2008-03-31 | 34.49% |
| 2007-12-31 | 34.81% |
| 2007-09-30 | 24.48% |
| 2007-06-30 | 26.20% |
| 2007-03-31 | 20.36% |
| 2006-12-31 | 12.40% |
| 2006-09-30 | 15.34% |
| 2006-06-30 | 4.77% |
| 2006-03-31 | 5.93% |
| 2005-09-30 | 3.71% |
| 2005-06-30 | 4.15% |
| 2005-03-31 | 4.24% |
| 2004-12-31 | 4.77% |
| 2004-09-30 | 2.43% |
| 2004-06-30 | 3.21% |
| 2004-03-31 | 4.68% |
| 2003-12-31 | 7.65% |
| 2003-09-30 | 7.59% |
| 2003-06-30 | 13.12% |
