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 18.14% is 37% below its 4-year average of 28.81%, near the low end of its 4-year range (6.15%–52.49%).
As of the fiscal period ended Saturday, March 28, 2026. 28.14% below its 12-month average of 25.25%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
18.14%
FCF PAYOUT RATIO AVG TTM
25.25%
FCF PAYOUT RATIO AVG 3Y
28.59%
FCF PAYOUT RATIO AVG 5Y
28.81%
FCF PAYOUT RATIO AVG 10Y
49.23%
FCF PAYOUT RATIO AVG 15Y
45.24%
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-28.14%
CURRENT VS 3Y AVG
-36.54%
CURRENT VS 5Y AVG
-37.03%
CURRENT VS 10Y AVG
-63.15%
CURRENT VS 15Y AVG
-59.90%
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
18.1%
Earnings Payout Ratio
188.2%
Dividend Yield
0.99%
FCF Yield
5.19%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $1.09B | $299.30M | 27.4% |
| 2024 | $1.15B | $321.40M | 28.0% |
| 2023 | $791.00M | $283.30M | 35.8% |
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 |
|---|---|
| 2026-03-28 | 18.14% |
| 2025-12-27 | 18.44% |
| 2025-09-27 | 27.88% |
| 2025-06-28 | 27.36% |
| 2025-03-29 | 34.41% |
| 2024-12-28 | 36.71% |
| 2024-09-28 | 27.20% |
| 2024-06-30 | 28.03% |
| 2024-03-30 | 23.80% |
| 2023-12-30 | 23.12% |
| 2023-09-30 | 27.88% |
| 2023-06-30 | 35.82% |
| 2023-04-01 | 42.88% |
| 2022-12-31 | 52.49% |
| 2022-10-01 | 46.67% |
| 2022-06-30 | 34.82% |
| 2022-04-02 | 23.22% |
| 2022-01-01 | 12.42% |
| 2021-10-02 | 6.15% |
| 2021-03-27 | 11.59% |
| 2020-12-26 | 40.61% |
| 2020-09-26 | 85.44% |
| 2020-06-30 | 188.64% |
| 2020-03-28 | 103.30% |
| 2019-12-28 | 82.17% |
| 2019-09-28 | 74.23% |
| 2019-06-30 | 75.50% |
| 2019-03-30 | 52.15% |
| 2018-12-29 | 42.76% |
| 2018-09-29 | 47.83% |
| 2018-06-30 | 52.67% |
| 2018-03-31 | 59.93% |
| 2017-12-30 | 56.54% |
| 2017-09-30 | 71.46% |
| 2017-06-30 | 66.23% |
| 2017-04-01 | 81.57% |
| 2016-12-31 | 89.31% |
| 2016-10-01 | 124.12% |
| 2016-06-30 | 106.00% |
| 2016-03-26 | 110.82% |
| 2015-12-26 | 104.22% |
| 2015-09-26 | 65.63% |
| 2015-06-30 | 51.10% |
| 2015-03-28 | 42.75% |
| 2014-12-27 | 45.84% |
| 2014-09-27 | 50.14% |
| 2014-06-30 | 49.16% |
| 2014-03-29 | 35.25% |
| 2013-12-28 | 29.87% |
| 2013-09-28 | 30.48% |
| 2013-06-30 | 28.97% |
| 2013-03-30 | 37.12% |
| 2012-12-29 | 39.13% |
| 2012-09-30 | 28.39% |
| 2012-06-30 | 25.09% |
| 2012-03-31 | 24.19% |
| 2011-12-31 | 19.69% |
| 2011-10-01 | 21.46% |
| 2011-06-30 | 20.11% |
| 2011-04-02 | 17.94% |
| 2011-01-01 | 15.44% |
| 2010-10-02 | 13.66% |
| 2010-06-30 | 10.37% |
| 2010-03-27 | 7.13% |
| 2009-12-26 | 4.81% |
| 2009-09-26 | 3.14% |
| 2022 |
| $759.30M |
| $264.40M |
| 34.8% |
| 2021 | $1.21B | $0 | 0.0% |
| 2020 | $201.60M | $380.30M | 188.6% |
| 2019 | $517.50M | $390.70M | 75.5% |
| 2018 | $729.30M | $384.10M | 52.7% |
| 2017 | $570.70M | $378.00M | 66.2% |
| 2016 | $353.30M | $374.50M | 106.0% |
| 2015 | $727.60M | $371.80M | 51.1% |
| 2014 | $765.82M | $376.50M | 49.2% |
| 2013 | $1.17B | $339.72M | 29.0% |
| 2012 | $1.04B | $260.28M | 25.1% |
| 2011 | $885.53M | $178.12M | 20.1% |
| 2010 | $909.76M | $94.32M | 10.4% |
| 2009 | $568.82M | $0 | 0.0% |
| 2008 | $748.64M | $0 | 0.0% |
| 2007 | $638.23M | $0 | 0.0% |
| 2006 | $462.73M | $0 | 0.0% |
| 2005 | $449.67M | $0 | 0.0% |
| 2004 | $380.87M | $0 | 0.0% |
| 2003 | $164.51M | $0 | 0.0% |
| 2002 | $65.17M | $0 | 0.0% |
| 2001 | $92.46M | $0 | 0.0% |
| 2000 | $57.98M | $0 | 0.0% |
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.
