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 49.95% is 71% above its 3-year average of 29.29%, around the middle of its 3-year range (7.71%–68.94%).
As of the fiscal period ended Tuesday, March 31, 2026. 1.18% above its 12-month average of 49.37%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
49.95%
FCF PAYOUT RATIO AVG TTM
49.37%
FCF PAYOUT RATIO AVG 3Y
29.29%
FCF PAYOUT RATIO AVG 5Y
29.29%
FCF PAYOUT RATIO AVG 10Y
27.16%
FCF PAYOUT RATIO AVG 15Y
66.91%
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+1.18%
CURRENT VS 3Y AVG
+70.51%
CURRENT VS 5Y AVG
+70.51%
CURRENT VS 10Y AVG
+83.92%
CURRENT VS 15Y AVG
-25.35%
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
49.9%
Earnings Payout Ratio
19.7%
Dividend Yield
2.63%
FCF Yield
5.21%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $112.64M | $69.00M | 61.3% |
| 2024 | $396.57M | $102.82M | 25.9% |
| 2023 | $615.87M | $59.52M | 9.7% |
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 |
|---|---|
| 2026-03-31 | 49.95% |
| 2025-12-31 | 61.26% |
| 2025-09-30 | 68.94% |
| 2025-06-30 | 34.88% |
| 2025-03-31 | 31.81% |
| 2024-12-31 | 25.33% |
| 2024-09-30 | 22.97% |
| 2024-06-30 | 19.45% |
| 2024-03-31 | 11.58% |
| 2023-12-31 | 9.58% |
| 2023-09-30 | 8.05% |
| 2023-06-30 | 7.71% |
| 2019-12-31 | 7.59% |
| 2019-09-30 | 15.67% |
| 2019-06-30 | 22.08% |
| 2019-03-31 | 20.69% |
| 2018-09-30 | 524.37% |
| 2018-06-30 | 85.88% |
| 2018-03-31 | 57.22% |
| 2017-12-31 | 27.61% |
| 2017-09-30 | 22.34% |
| 2017-06-30 | 14.78% |
| 2017-03-31 | 18.98% |
| 2016-12-31 | 23.34% |
| 2016-09-30 | 42.82% |
| 2014-12-31 | 129.66% |
| 2014-09-30 | 79.34% |
| 2014-03-31 | 95.94% |
| 2013-12-31 | 233.36% |
| 2013-09-30 | 209.72% |
| 2013-06-30 | 45.67% |
| 2013-03-31 | 160.46% |
| 2012-12-31 | 128.80% |
| 2012-09-30 | 128.69% |
| 2012-06-30 | 147.85% |
| 2012-03-31 | 109.85% |
| 2011-12-31 | 97.29% |
| 2011-09-30 | 117.21% |
| 2011-06-30 | 112.26% |
| 2011-03-31 | 102.89% |
| 2010-12-31 | 105.96% |
| 2010-09-30 | 69.07% |
| 2010-06-30 | 69.16% |
| 2010-03-31 | 72.55% |
| 2009-12-31 | 71.66% |
| 2009-09-30 | 92.55% |
| 2009-06-30 | 66.62% |
| 2009-03-31 | 52.69% |
| 2008-12-31 | 39.87% |
| 2008-09-30 | 4.75% |
| 2008-06-30 | 5.96% |
| 2022 |
| $177.84M |
| $0 |
| 0.0% |
| 2021 | ($128.76M) | $0 | N/A (Loss) |
| 2020 | $331.92M | $0 | 0.0% |
| 2019 | $106.03M | $0 | 0.0% |
| 2018 | ($13.09M) | $8.05M | N/A (Loss) |
| 2017 | $74.91M | $20.68M | 27.6% |
| 2016 | $200.75M | $46.85M | 23.3% |
| 2015 | ($681.44M) | $15.14M | N/A (Loss) |
| 2014 | $7.84M | $10.16M | 129.7% |
| 2013 | $4.30M | $10.03M | 233.4% |
| 2012 | $25.02M | $32.23M | 128.8% |
| 2011 | $19.68M | $51.36M | 260.9% |
| 2010 | $52.14M | $55.24M | 106.0% |
| 2009 | $53.20M | $50.35M | 94.6% |
| 2008 | $74.30M | $69.63M | 93.7% |
| 2007 | $61.05M | $437.60M | 716.8% |
| 2006 | $61.15M | $0 | 0.0% |
| 2005 | ($39.50M) | $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.
