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 60.47% is 51% below its 5-year average of 122.62%, near the low end of its 5-year range (23.47%–695.79%).
As of the fiscal period ended Saturday, June 27, 2026. 3.01% above its 12-month average of 58.70%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
60.47%
FCF PAYOUT RATIO AVG TTM
58.70%
FCF PAYOUT RATIO AVG 3Y
61.09%
FCF PAYOUT RATIO AVG 5Y
52.55%
FCF PAYOUT RATIO AVG 10Y
37.11%
FCF PAYOUT RATIO AVG 15Y
27.71%
FCF PAYOUT RATIO AVG 20Y
25.94%
CURRENT VS TTM AVG
+3.01%
CURRENT VS 3Y AVG
-1.02%
CURRENT VS 5Y AVG
+15.07%
CURRENT VS 10Y AVG
+62.93%
CURRENT VS 15Y AVG
+118.21%
CURRENT VS 20Y AVG
+133.12%
FCF Payout Ratio TTM
60.5%
Earnings Payout Ratio
149.3%
Dividend Yield
3.50%
FCF Yield
5.71%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $1.18B | $697.00M | 59.2% |
| 2024 | $1.46B | $684.00M | 46.9% |
| 2023 | ($187.00M) | $670.00M | N/A (Loss) |
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 |
|---|---|
| 2026-06-27 | 60.47% |
| 2026-03-28 | 57.13% |
| 2025-12-27 | 63.14% |
| 2025-09-27 | 59.22% |
| 2025-06-28 | 53.54% |
| 2025-03-29 | 53.82% |
| 2024-12-28 | 54.09% |
| 2024-09-28 | 46.91% |
| 2024-06-29 | 65.57% |
| 2024-03-30 | 96.99% |
| 2023-12-30 | 114.68% |
| 2023-07-01 | 678.57% |
| 2023-04-01 | 695.79% |
| 2022-09-30 | 81.63% |
| 2022-07-02 | 46.40% |
| 2022-04-02 | 29.15% |
| 2022-01-01 | 25.05% |
| 2021-09-30 | 24.17% |
| 2021-07-03 | 23.47% |
| 2021-04-03 | 21.83% |
| 2021-01-02 | 19.13% |
| 2020-09-30 | 22.47% |
| 2020-06-27 | 23.48% |
| 2020-03-28 | 35.41% |
| 2019-12-28 | 43.00% |
| 2019-09-30 | 42.82% |
| 2019-06-29 | 39.53% |
| 2019-03-30 | 33.02% |
| 2018-12-29 | 30.82% |
| 2018-09-30 | 24.45% |
| 2018-06-30 | 21.32% |
| 2018-03-31 | 23.64% |
| 2017-12-30 | 24.40% |
| 2017-09-30 | 20.85% |
| 2017-07-01 | 21.95% |
| 2017-04-01 | 14.89% |
| 2016-12-31 | 11.77% |
| 2016-09-30 | 10.69% |
| 2016-07-02 | 9.76% |
| 2016-04-02 | 8.60% |
| 2016-01-02 | 8.03% |
| 2015-09-30 | 8.57% |
| 2015-06-27 | 9.35% |
| 2015-03-28 | 13.62% |
| 2014-12-27 | 12.80% |
| 2014-09-30 | 19.05% |
| 2014-06-28 | 18.06% |
| 2014-03-29 | 10.66% |
| 2013-12-28 | 8.05% |
| 2013-09-30 | 13.76% |
| 2013-06-29 | 15.27% |
| 2013-03-30 | 29.97% |
| 2012-12-29 | 25.40% |
| 2012-09-30 | 11.47% |
| 2012-06-30 | 15.47% |
| 2012-03-31 | 10.03% |
| 2011-12-31 | 17.05% |
| 2011-09-30 | 14.64% |
| 2011-07-02 | 15.19% |
| 2011-04-02 | 10.14% |
| 2011-01-01 | 8.94% |
| 2010-09-30 | 6.69% |
| 2010-07-03 | 6.49% |
| 2010-04-03 | 9.30% |
| 2010-01-02 | 5.81% |
| 2009-09-30 | 9.13% |
| 2009-06-27 | 9.76% |
| 2009-03-28 | 32.95% |
| 2008-03-29 | 71.79% |
| 2007-12-29 | 28.43% |
| 2007-09-30 | 14.25% |
| 2007-06-30 | 22.31% |
| 2007-03-31 | 29.63% |
| 2006-12-30 | 125.00% |
| 2006-04-01 | 289.47% |
| 2005-12-31 | 50.00% |
| 2005-09-30 | 12.85% |
| 2005-07-02 | 10.42% |
| 2005-03-31 | 15.41% |
| 2004-12-31 | 9.98% |
| 2004-09-30 | 12.33% |
| 2004-06-26 | 6.74% |
| 2004-03-27 | 8.33% |
| 2003-12-27 | 7.54% |
| 2003-09-30 | 12.92% |
| 2003-06-28 | 22.48% |
| 2022 |
| $800.00M |
| $653.00M |
| 81.6% |
| 2021 | $2.63B | $636.00M | 24.2% |
| 2020 | $2.67B | $601.00M | 22.5% |
| 2019 | $1.25B | $537.00M | 42.8% |
| 2018 | $1.76B | $431.00M | 24.4% |
| 2017 | $1.53B | $319.00M | 20.8% |
| 2016 | $2.02B | $216.00M | 10.7% |
| 2015 | $1.72B | $147.00M | 8.6% |
| 2014 | $546.00M | $104.00M | 19.0% |
| 2013 | $756.00M | $104.00M | 13.8% |
| 2012 | $497.00M | $57.00M | 11.5% |
| 2011 | $403.00M | $59.00M | 14.6% |
| 2010 | $882.00M | $59.00M | 6.7% |
| 2009 | $657.00M | $60.00M | 9.1% |
| 2008 | ($137.00M) | $56.00M | N/A (Loss) |
| 2007 | $393.00M | $56.00M | 14.2% |
| 2006 | ($244.00M) | $55.00M | N/A (Loss) |
| 2005 | $428.00M | $55.00M | 12.9% |
| 2004 | $446.00M | $55.00M | 12.3% |
| 2003 | $418.00M | $54.00M | 12.9% |
| 2002 | $741.00M | $58.00M | 7.8% |
| 2001 | $249.70M | $0 | 0.0% |
| 2000 | $391.00M | $0 | 0.0% |
| 1999 | $183.40M | $0 | 0.0% |
| 1998 | ($72.50M) | $0 | N/A (Loss) |
| 1997 | $249.80M | $0 | 0.0% |
| 1996 | ($40.70M) | $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.
