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 26.72% is 33% below its 5-year average of 40.00%, near the low end of its 5-year range (21.11%–98.18%).
As of the fiscal period ended Tuesday, March 31, 2026. 3.67% above its 12-month average of 25.77%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
26.72%
FCF PAYOUT RATIO AVG TTM
25.77%
FCF PAYOUT RATIO AVG 3Y
28.37%
FCF PAYOUT RATIO AVG 5Y
37.09%
FCF PAYOUT RATIO AVG 10Y
34.82%
FCF PAYOUT RATIO AVG 15Y
34.00%
FCF PAYOUT RATIO AVG 20Y
32.61%
CURRENT VS TTM AVG
+3.67%
CURRENT VS 3Y AVG
-5.83%
CURRENT VS 5Y AVG
-27.95%
CURRENT VS 10Y AVG
-23.26%
CURRENT VS 15Y AVG
-21.42%
CURRENT VS 20Y AVG
-18.05%
FCF Payout Ratio TTM
26.7%
Earnings Payout Ratio
26.3%
Dividend Yield
0.91%
FCF Yield
3.32%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $96.35M | $26.07M | 27.1% |
| 2024 | $120.89M | $25.52M | 21.1% |
| 2023 | $67.81M | $25.08M | 37.0% |
| 2022 | $48.70M | $24.63M | 50.6% |
| 2021 | $53.87M | $24.14M | 44.8% |
| 2020 | $56.74M | $23.81M | 42.0% |
| 2019 | $79.96M | $23.46M | 29.3% |
| 2018 | $73.32M | $22.98M | 31.3% |
| 2017 | $26.30M | $22.62M | 86.0% |
| 2016 | $82.46M | $22.27M | 27.0% |
| 2015 | $75.54M | $20.77M | 27.5% |
| 2014 | $78.06M | $19.24M | 24.6% |
| 2013 | $94.06M | $14.28M | 15.2% |
| 2012 | $93.03M | $52.43M | 56.4% |
| 2011 | $34.04M | $18.41M | 54.1% |
| 2010 | $69.99M | $18.13M | 25.9% |
| 2009 | $54.45M | $17.82M | 32.7% |
| 2008 | $22.69M | $17.56M | 77.4% |
| 2007 | $75.30M | $17.54M | 23.3% |
| 2006 | $16.45M | $17.26M | 105.0% |
| 2005 | $67.83M | $15.13M | 22.3% |
| 2004 | $58.28M | $14.88M | 25.5% |
| 2003 | $71.32M | $14.41M | 20.2% |
| 2002 | $60.90M | $14.61M | 24.0% |
| 2001 | $67.36M | $14.17M | 21.0% |
| 2000 | $68.69M | $13.09M | 19.1% |
| 1999 | $52.60M | $11.30M | 21.5% |
| 1998 | $62.80M | $9.20M | 14.6% |
| 1997 | $59.60M | $7.30M | 12.2% |
| 1996 | $66.90M | $6.20M | 9.3% |
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 |
|---|---|
| 2026-03-31 | 26.72% |
| 2025-12-31 | 27.05% |
| 2025-09-30 | 25.93% |
| 2025-06-30 | 24.52% |
| 2025-03-31 | 24.64% |
| 2024-12-31 | 21.11% |
| 2024-09-30 | 24.37% |
| 2024-06-30 | 29.96% |
| 2024-03-31 | 25.99% |
| 2023-12-31 | 36.98% |
| 2023-09-30 | 44.83% |
| 2023-06-30 | 58.77% |
| 2023-03-31 | 98.18% |
| 2022-12-31 | 50.58% |
| 2022-09-30 | 42.42% |
| 2022-06-30 | 53.09% |
| 2022-03-31 | 45.76% |
| 2021-12-31 | 44.80% |
| 2021-09-30 | 45.14% |
| 2021-06-30 | 47.30% |
| 2021-03-31 | 41.75% |
| 2020-12-31 | 41.96% |
| 2020-09-30 | 33.59% |
| 2020-06-30 | 28.33% |
| 2020-03-31 | 27.83% |
| 2019-12-31 | 29.34% |
| 2019-09-30 | 32.82% |
| 2019-06-30 | 29.18% |
| 2019-03-31 | 30.07% |
| 2018-12-31 | 31.34% |
| 2018-09-30 | 52.26% |
| 2018-06-30 | 113.41% |
| 2018-03-31 | 107.29% |
| 2017-12-31 | 86.01% |
| 2017-09-30 | 40.82% |
| 2017-06-30 | 31.14% |
| 2017-03-31 | 27.09% |
| 2016-12-31 | 27.00% |
| 2016-09-30 | 24.22% |
| 2016-06-30 | 31.08% |
| 2016-03-31 | 28.51% |
| 2015-12-31 | 27.50% |
| 2015-09-30 | 21.51% |
| 2015-06-30 | 22.39% |
| 2015-03-31 | 23.60% |
| 2014-12-31 | 24.65% |
| 2014-09-27 | 30.66% |
| 2014-06-28 | 27.31% |
| 2014-03-29 | 30.12% |
| 2013-12-31 | 15.18% |
| 2013-09-28 | 43.64% |
| 2013-06-29 | 47.59% |
| 2013-03-30 | 45.15% |
| 2012-12-31 | 56.36% |
| 2012-09-29 | 23.18% |
| 2012-06-30 | 24.24% |
| 2012-03-31 | 35.79% |
| 2011-12-31 | 54.08% |
| 2011-10-01 | 41.44% |
| 2011-07-02 | 30.36% |
| 2011-04-02 | 25.07% |
| 2010-12-31 | 25.90% |
| 2010-10-02 | 30.40% |
| 2010-07-03 | 28.53% |
| 2010-04-03 | 32.18% |
| 2009-12-31 | 32.74% |
| 2009-10-03 | 32.18% |
| 2009-07-04 | 351.41% |
| 2009-04-04 | 246.31% |
| 2008-12-31 | 157.10% |
| 2008-09-27 | 138.84% |
| 2008-06-28 | 29.40% |
| 2008-03-29 | 21.32% |
| 2007-12-31 | 11.67% |
| 2007-09-29 | 15.65% |
| 2007-06-30 | 14.71% |
| 2007-03-31 | 21.49% |
| 2006-12-31 | 104.95% |
| 2006-09-30 | 44.60% |
| 2006-07-01 | 39.34% |
| 2006-04-01 | 29.39% |
| 2005-12-31 | 22.31% |
| 2005-10-01 | 28.59% |
| 2005-07-02 | 25.44% |
| 2005-04-02 | 22.37% |
| 2004-12-31 | 25.53% |
| 2004-10-02 | 24.44% |
| 2004-07-03 | 26.66% |
| 2004-04-03 | 25.87% |
| 2003-12-31 | 20.21% |
| 2003-09-27 | 18.08% |
| 2003-06-28 | 20.63% |
| 2003-03-29 | 24.96% |
