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 29.14% is 43% below its 5-year average of 51.01%, near the low end of its 5-year range (22.25%–104.21%).
As of the fiscal period ended Tuesday, June 30, 2026. 33.38% below its 12-month average of 43.74%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
29.14%
FCF PAYOUT RATIO AVG TTM
43.74%
FCF PAYOUT RATIO AVG 3Y
49.40%
FCF PAYOUT RATIO AVG 5Y
51.01%
FCF PAYOUT RATIO AVG 10Y
40.36%
FCF PAYOUT RATIO AVG 15Y
24.02%
FCF PAYOUT RATIO AVG 20Y
22.32%
CURRENT VS TTM AVG
-33.38%
CURRENT VS 3Y AVG
-41.00%
CURRENT VS 5Y AVG
-42.87%
CURRENT VS 10Y AVG
-27.80%
CURRENT VS 15Y AVG
+21.30%
CURRENT VS 20Y AVG
+30.55%
FCF Payout Ratio TTM
29.1%
Earnings Payout Ratio
27.4%
Dividend Yield
0.55%
FCF Yield
2.82%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $486.38M | $147.80M | 30.4% |
| 2024 | $460.98M | $347.31M | 75.3% |
| 2023 | $403.26M | $99.97M | 24.8% |
| 2022 | $427.94M | $247.28M | 57.8% |
| 2021 | $249.62M | $85.26M | 34.2% |
| 2020 | $201.95M | $201.66M | 99.9% |
| 2019 | $310.58M | $46.55M | 15.0% |
| 2018 | $147.57M | $31.65M | 21.4% |
| 2017 | $75.08M | $10.68M | 14.2% |
| 2016 | $39.98M | $2.51M | 6.3% |
| 2015 | $49.34M | $2.40M | 4.9% |
| 2014 | $38.80M | $2.28M | 5.9% |
| 2013 | $30.01M | $0 | 0.0% |
| 2012 | $19.86M | $4.30M | 21.6% |
| 2011 | $23.89M | $2.00M | 8.4% |
| 2010 | $11.67M | $1.97M | 16.9% |
| 2009 | $9.36M | $1.93M | 20.6% |
| 2008 | $11.43M | $1.88M | 16.5% |
| 2007 | $9.51M | $1.70M | 17.8% |
| 2006 | $10.30M | $5.87M | 57.0% |
| 2005 | $10.28M | $1.20M | 11.7% |
| 2004 | $10.13M | $4.96M | 49.0% |
| 2003 | $6.49M | $1.72M | 26.5% |
| 2002 | $4.87M | $0.96M | 19.7% |
| 2001 | $5.92M | $1.00M | 17.0% |
| 2000 | $3.96M | $1.03M | 26.1% |
| 1999 | $4.09M | $1.07M | 26.1% |
| 1998 | $5.28M | $1.10M | 20.9% |
| 1997 | $4.71M | $1.13M | 24.1% |
| 1996 | $3.19M | $1.18M | 37.0% |
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.
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 | 29.14% |
| 2026-03-31 | 30.85% |
| 2025-12-31 | 30.39% |
| 2025-09-30 | 28.71% |
| 2025-06-30 | 99.63% |
| 2025-03-31 | 104.21% |
| 2024-12-31 | 101.96% |
| 2024-09-30 | 100.36% |
| 2024-06-30 | 23.24% |
| 2024-03-31 | 23.39% |
| 2023-12-31 | 24.79% |
| 2023-09-30 | 23.22% |
| 2023-06-30 | 22.25% |
| 2023-03-31 | 57.03% |
| 2022-12-31 | 57.78% |
| 2022-09-30 | 63.29% |
| 2022-06-30 | 70.34% |
| 2022-03-31 | 28.79% |
| 2021-12-31 | 34.16% |
| 2021-09-30 | 61.75% |
| 2021-06-30 | 55.86% |
| 2021-03-31 | 47.37% |
| 2020-12-31 | 90.49% |
| 2020-09-30 | 58.80% |
| 2020-06-30 | 58.29% |
| 2020-03-31 | 55.69% |
| 2019-12-31 | 14.99% |
| 2019-09-30 | 14.85% |
| 2019-06-30 | 16.20% |
| 2019-03-31 | 17.40% |
| 2018-12-31 | 21.45% |
| 2018-09-30 | 29.30% |
| 2018-06-30 | 31.22% |
| 2018-03-31 | 37.05% |
| 2017-12-31 | 14.23% |
| 2017-09-30 | 15.69% |
| 2017-06-30 | 20.16% |
| 2017-03-31 | 20.81% |
| 2016-12-31 | 6.27% |
| 2016-09-30 | 6.86% |
| 2016-06-30 | 6.63% |
| 2016-03-31 | 8.75% |
| 2015-12-31 | 4.87% |
| 2015-09-30 | 4.60% |
| 2015-06-30 | 4.92% |
| 2015-03-31 | 3.97% |
| 2014-12-31 | 5.88% |
| 2014-09-30 | 6.73% |
| 2014-06-30 | 5.83% |
| 2014-03-31 | 6.57% |
| 2013-09-30 | 7.28% |
| 2013-06-30 | 11.01% |
| 2013-03-31 | 13.19% |
| 2012-12-31 | 21.63% |
| 2012-09-30 | 9.47% |
| 2012-06-30 | 8.67% |
| 2012-03-31 | 8.02% |
| 2011-12-31 | 8.37% |
| 2011-09-30 | 10.14% |
| 2011-06-30 | 13.24% |
| 2011-03-31 | 13.78% |
| 2010-12-31 | 16.87% |
| 2010-09-30 | 16.90% |
| 2010-06-30 | 17.04% |
| 2010-03-31 | 17.49% |
| 2009-12-31 | 20.62% |
| 2009-09-30 | 24.06% |
| 2009-06-30 | 17.67% |
| 2009-03-31 | 20.55% |
| 2008-12-31 | 16.48% |
| 2008-09-30 | 15.20% |
| 2008-06-30 | 17.06% |
| 2008-03-31 | 16.98% |
| 2007-12-31 | 17.85% |
| 2007-09-30 | 83.75% |
| 2007-06-30 | 78.04% |
| 2007-03-31 | 67.93% |
| 2006-12-31 | 56.99% |
| 2006-09-30 | 12.04% |
| 2006-06-30 | 16.34% |
| 2006-03-31 | 12.19% |
| 2005-12-31 | 11.71% |
| 2005-09-30 | 56.21% |
| 2005-06-30 | 32.52% |
| 2005-03-31 | 46.37% |
| 2004-12-31 | 49.03% |
| 2004-09-30 | 10.09% |
| 2004-06-30 | 31.60% |
| 2004-03-31 | 35.57% |
| 2003-12-31 | 26.48% |
| 2003-09-30 | 30.03% |
| 2003-06-30 | 17.70% |
