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 54.23% is 132% above its 5-year average of 23.35%, near the high end of its 5-year range (12.68%–54.23%).
As of the fiscal period ended Thursday, April 30, 2026. 56.86% above its 12-month average of 34.57%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
54.23%
FCF PAYOUT RATIO AVG TTM
34.57%
FCF PAYOUT RATIO AVG 3Y
20.52%
FCF PAYOUT RATIO AVG 5Y
20.46%
FCF PAYOUT RATIO AVG 10Y
25.50%
FCF PAYOUT RATIO AVG 15Y
25.97%
FCF PAYOUT RATIO AVG 20Y
26.92%
CURRENT VS TTM AVG
+56.86%
CURRENT VS 3Y AVG
+164.31%
CURRENT VS 5Y AVG
+165.03%
CURRENT VS 10Y AVG
+112.70%
CURRENT VS 15Y AVG
+108.82%
CURRENT VS 20Y AVG
+101.43%
FCF Payout Ratio TTM
54.2%
Earnings Payout Ratio
42.7%
Dividend Yield
2.71%
FCF Yield
4.97%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $454.94M | $106.13M | 23.3% |
| 2024 | $405.91M | $102.14M | 25.2% |
| 2023 | $773.44M | $95.97M | 12.4% |
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 |
|---|---|
| 2026-04-30 | 54.23% |
| 2026-01-31 | 47.33% |
| 2025-10-31 | 28.45% |
| 2025-07-31 | 23.33% |
| 2025-04-30 | 19.52% |
| 2025-01-31 | 19.32% |
| 2024-10-31 | 26.19% |
| 2024-07-31 | 25.16% |
| 2024-04-30 | 18.27% |
| 2024-01-31 | 17.48% |
| 2023-10-31 | 12.68% |
| 2023-07-31 | 15.52% |
| 2023-04-30 | 19.76% |
| 2023-01-31 | 18.31% |
| 2022-10-31 | 15.12% |
| 2022-07-31 | 15.89% |
| 2022-04-30 | 15.33% |
| 2022-01-31 | 16.39% |
| 2021-10-31 | 22.84% |
| 2021-07-31 | 28.54% |
| 2021-04-30 | 30.66% |
| 2021-01-31 | 32.53% |
| 2020-10-31 | 26.98% |
| 2020-07-31 | 25.42% |
| 2020-04-30 | 24.63% |
| 2020-01-31 | 43.60% |
| 2019-10-31 | 30.80% |
| 2019-07-31 | 27.72% |
| 2019-04-30 | 31.79% |
| 2019-01-31 | 24.33% |
| 2018-10-31 | 32.98% |
| 2018-07-31 | 29.69% |
| 2018-04-30 | 31.98% |
| 2018-01-31 | 31.46% |
| 2017-10-31 | 28.83% |
| 2017-07-31 | 28.51% |
| 2017-04-30 | 29.66% |
| 2017-01-31 | 31.67% |
| 2016-10-31 | 24.71% |
| 2016-07-31 | 21.77% |
| 2016-04-30 | 24.68% |
| 2016-01-31 | 30.65% |
| 2015-10-31 | 35.14% |
| 2015-07-31 | 27.91% |
| 2015-04-30 | 23.69% |
| 2015-01-31 | 28.62% |
| 2014-10-31 | 65.45% |
| 2014-07-31 | 86.08% |
| 2014-04-30 | 263.55% |
| 2014-01-31 | 98.05% |
| 2013-10-31 | 106.62% |
| 2013-07-31 | 97.45% |
| 2013-04-30 | 107.74% |
| 2013-01-31 | 169.13% |
| 2012-10-31 | 34.65% |
| 2012-07-31 | 29.71% |
| 2012-04-30 | 15.72% |
| 2012-01-31 | 17.19% |
| 2011-10-31 | 21.24% |
| 2011-07-31 | 20.87% |
| 2011-04-30 | 45.15% |
| 2011-01-31 | 19.64% |
| 2010-10-31 | 20.35% |
| 2010-07-31 | 48.00% |
| 2010-04-30 | 116.77% |
| 2010-01-31 | 955.86% |
| 2009-10-31 | 58.17% |
| 2009-07-31 | 36.15% |
| 2009-04-30 | 23.08% |
| 2009-01-31 | 14.28% |
| 2008-10-31 | 24.37% |
| 2008-07-31 | 118.25% |
| 2008-04-30 | 94.71% |
| 2008-01-31 | 83.11% |
| 2007-10-31 | 71.31% |
| 2007-07-31 | 32.55% |
| 2007-04-30 | 30.96% |
| 2007-01-31 | 33.61% |
| 2006-10-31 | 33.99% |
| 2006-07-31 | 25.93% |
| 2006-04-30 | 29.38% |
| 2006-01-31 | 28.46% |
| 2005-10-31 | 27.95% |
| 2005-07-31 | 8.16% |
| 2005-04-30 | 10.25% |
| 2005-01-31 | 8.92% |
| 2004-10-31 | 9.94% |
| 2004-07-31 | 9.16% |
| 2004-04-30 | 15.50% |
| 2004-01-31 | 8.70% |
| 2003-10-31 | 6.17% |
| 2003-07-31 | 7.76% |
| 2003-04-30 | 1.91% |
| 2022 |
| $747.90M |
| $94.94M |
| 12.7% |
| 2021 | $397.65M | $90.80M | 22.8% |
| 2020 | $434.24M | $88.32M | 20.3% |
| 2019 | $377.80M | $84.14M | 22.3% |
| 2018 | $328.31M | $77.99M | 23.8% |
| 2017 | $304.31M | $69.41M | 22.8% |
| 2016 | $289.23M | $62.97M | 21.8% |
| 2015 | $205.58M | $57.38M | 27.9% |
| 2014 | $118.86M | $102.31M | 86.1% |
| 2013 | $120.76M | $117.69M | 97.5% |
| 2012 | $108.78M | $32.32M | 29.7% |
| 2011 | $81.05M | $22.33M | 27.5% |
| 2010 | $88.36M | $42.41M | 48.0% |
| 2009 | $42.95M | $15.52M | 36.1% |
| 2008 | $107.63M | $127.28M | 118.3% |
| 2007 | $219.10M | $71.32M | 32.6% |
| 2006 | $107.09M | $27.76M | 25.9% |
| 2005 | $83.67M | $6.82M | 8.2% |
| 2004 | $56.28M | $5.15M | 9.2% |
| 2003 | $18.41M | $1.43M | 7.8% |
| 2002 | $126.39M | $1.09M | 0.9% |
| 2001 | $3.83M | $0.95M | 24.9% |
| 2000 | $0.72M | $0.97M | 133.8% |
| 1999 | $28.70M | $1.00M | 3.5% |
| 1998 | $28.50M | $1.00M | 3.5% |
| 1997 | $20.70M | $1.00M | 4.8% |
| 1996 | $6.70M | $1.10M | 16.4% |
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.
