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 2.89% is 38% above its 5-year average of 2.10%, around the middle of its 5-year range (1.31%–3.99%).
As of the fiscal period ended Tuesday, June 30, 2026. 13.80% above its 12-month average of 2.54%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
2.89%
FCF PAYOUT RATIO AVG TTM
2.54%
FCF PAYOUT RATIO AVG 3Y
2.06%
FCF PAYOUT RATIO AVG 5Y
2.10%
FCF PAYOUT RATIO AVG 10Y
2.59%
FCF PAYOUT RATIO AVG 15Y
3.24%
FCF PAYOUT RATIO AVG 20Y
3.21%
CURRENT VS TTM AVG
+13.80%
CURRENT VS 3Y AVG
+40.52%
CURRENT VS 5Y AVG
+37.66%
CURRENT VS 10Y AVG
+11.57%
CURRENT VS 15Y AVG
-10.77%
CURRENT VS 20Y AVG
-9.73%
FCF Payout Ratio TTM
2.9%
Earnings Payout Ratio
1.6%
Dividend Yield
0.09%
FCF Yield
3.97%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $884.00M | $19.00M | 2.1% |
| 2024 | $864.00M | $16.00M | 1.9% |
| 2023 | $864.00M | $16.00M | 1.9% |
| 2022 | $451.00M | $18.00M | 4.0% |
| 2022 | $1.22B | $18.00M | 1.5% |
| 2021 | $675.00M | $18.00M | 2.7% |
| 2019 | $738.00M | $20.00M | 2.7% |
| 2018 | $513.00M | $21.00M | 4.1% |
| 2017 | $566.00M | $22.00M | 3.9% |
| 2016 | $670.00M | $22.00M | 3.3% |
| 2015 | $779.00M | $28.00M | 3.6% |
| 2014 | $366.00M | $22.00M | 6.0% |
| 2013 | $447.00M | $17.00M | 3.8% |
| 2012 | $640.00M | $22.00M | 3.4% |
| 2011 | $714.00M | $22.00M | 3.1% |
| 2010 | $777.00M | $21.00M | 2.7% |
| 2009 | $200.00M | $284.00M | 142.0% |
| 2008 | $648.00M | $154.00M | 23.8% |
| 2007 | $538.00M | $244.00M | 45.4% |
| 2006 | $671.00M | $189.00M | 28.2% |
| 2005 | $671.00M | $189.00M | 28.2% |
| 2004 | $647.00M | $135.00M | 20.9% |
| 2003 | $547.00M | $222.00M | 40.6% |
| 2002 | $398.00M | $182.00M | 45.7% |
| 2001 | $451.00M | $184.00M | 40.8% |
| 2000 | $496.00M | $189.00M | 38.1% |
| 1999 | ($990.00M) | $192.00M | N/A (Loss) |
| 1998 | ($470.00M) | $143.00M | N/A (Loss) |
| 1997 | $651.00M | $202.00M | 31.0% |
| 1996 | $1.22B | $148.00M | 12.1% |
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 | 2.89% |
| 2026-04-04 | 2.55% |
| 2026-01-03 | 2.32% |
| 2025-09-27 | 2.42% |
| 2025-06-28 | 2.26% |
| 2025-03-29 | 2.57% |
| 2024-12-28 | 1.85% |
| 2024-09-28 | 1.86% |
| 2024-06-29 | 1.69% |
| 2024-03-30 | 1.54% |
| 2023-12-31 | 1.50% |
| 2023-09-30 | 1.66% |
| 2023-07-01 | 1.67% |
| 2023-04-01 | 1.40% |
| 2022-12-31 | 1.47% |
| 2022-10-01 | 1.31% |
| 2022-07-02 | 1.34% |
| 2022-04-02 | 1.76% |
| 2021-12-31 | 3.99% |
| 2021-10-02 | 3.21% |
| 2021-07-03 | 2.89% |
| 2021-04-03 | 3.56% |
| 2020-12-31 | 2.67% |
| 2020-10-03 | 4.96% |
| 2020-07-04 | 6.25% |
| 2020-04-04 | 3.20% |
| 2019-12-31 | 2.71% |
| 2019-09-28 | 2.20% |
| 2019-06-29 | 2.99% |
| 2019-03-30 | 2.99% |
| 2018-12-31 | 2.99% |
| 2018-09-29 | 2.99% |
| 2018-06-30 | 2.99% |
| 2018-03-31 | 3.11% |
| 2017-12-31 | 3.93% |
| 2017-09-30 | 2.70% |
| 2017-07-01 | 2.42% |
| 2017-04-01 | 4.11% |
| 2016-12-31 | 3.88% |
| 2016-10-01 | 5.54% |
| 2016-07-02 | 5.43% |
| 2016-04-02 | 4.12% |
| 2015-12-31 | 3.26% |
| 2015-10-03 | 4.66% |
| 2015-07-04 | 4.42% |
| 2015-04-04 | 3.61% |
| 2014-12-31 | 3.58% |
| 2014-09-27 | 2.12% |
| 2014-06-28 | 1.83% |
| 2014-03-29 | 3.07% |
| 2013-12-31 | 5.96% |
| 2013-03-30 | 5.50% |
| 2012-12-31 | 3.74% |
| 2012-09-29 | 6.49% |
| 2012-06-30 | 4.76% |
| 2012-03-31 | 6.51% |
| 2011-12-31 | 3.44% |
| 2011-10-01 | 4.81% |
| 2011-07-02 | 3.68% |
| 2011-04-20 | 2.70% |
| 2010-12-31 | 3.09% |
| 2010-10-22 | 2.04% |
| 2010-07-03 | 2.07% |
| 2010-04-03 | 3.93% |
| 2009-12-31 | 23.32% |
| 2009-10-16 | 64.29% |
| 2008-12-31 | 142.00% |
| 2008-09-27 | 39.08% |
| 2008-06-30 | 19.57% |
| 2008-03-31 | 20.25% |
| 2007-12-31 | 23.77% |
| 2007-09-29 | 23.97% |
| 2007-06-30 | 45.65% |
| 2007-03-31 | 49.25% |
| 2006-12-31 | 45.35% |
| 2006-09-30 | 44.83% |
| 2006-07-26 | 46.63% |
| 2006-04-01 | 27.76% |
| 2005-12-31 | 28.17% |
| 2005-10-01 | 36.07% |
| 2005-07-02 | 26.19% |
| 2005-04-02 | 31.52% |
| 2004-12-31 | 20.87% |
| 2004-10-02 | 23.48% |
| 2004-07-03 | 31.28% |
| 2004-04-03 | 34.42% |
| 2003-12-31 | 40.59% |
| 2003-09-27 | 26.29% |
| 2003-06-28 | 21.90% |
| 2003-03-29 | 28.87% |
