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 6.00% is 43% below its 5-year average of 10.58%, near the low end of its 5-year range (4.75%–235.04%).
As of the fiscal period ended Tuesday, June 30, 2026. 2.83% above its 12-month average of 5.83%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
6.00%
FCF PAYOUT RATIO AVG TTM
5.83%
FCF PAYOUT RATIO AVG 3Y
7.37%
FCF PAYOUT RATIO AVG 5Y
10.58%
FCF PAYOUT RATIO AVG 10Y
8.11%
FCF PAYOUT RATIO AVG 15Y
8.56%
FCF PAYOUT RATIO AVG 20Y
11.32%
CURRENT VS TTM AVG
+2.83%
CURRENT VS 3Y AVG
-18.62%
CURRENT VS 5Y AVG
-43.29%
CURRENT VS 10Y AVG
-26.00%
CURRENT VS 15Y AVG
-29.89%
CURRENT VS 20Y AVG
-47.01%
FCF Payout Ratio TTM
6.0%
Earnings Payout Ratio
3.4%
Dividend Yield
0.46%
FCF Yield
7.99%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $849.25M | $51.27M | 6.0% |
| 2024 | $1.12B | $53.35M | 4.7% |
| 2023 | $524.74M | $55.48M | 10.6% |
| 2022 | $262.02M | $58.45M | 22.3% |
| 2021 | $28.04M | $65.90M | 235.0% |
| 2020 | $1.63B | $17.34M | 1.1% |
| 2019 | $774.95M | $53.00M | 6.8% |
| 2018 | $529.22M | $37.34M | 7.1% |
| 2017 | $573.15M | $38.21M | 6.7% |
| 2016 | $133.26M | $38.88M | 29.2% |
| 2015 | $107.92M | $39.53M | 36.6% |
| 2014 | $213.34M | $29.66M | 13.9% |
| 2013 | $513.11M | $19.62M | 3.8% |
| 2012 | ($75.77M) | $58.40M | N/A (Loss) |
| 2011 | $394.32M | $19.47M | 4.9% |
| 2010 | $262.07M | $19.42M | 7.4% |
| 2009 | $153.56M | $16.71M | 10.9% |
| 2008 | $108.56M | $16.15M | 14.9% |
| 2007 | $8.68M | $17.17M | 197.8% |
| 2006 | ($171.90M) | $17.45M | N/A (Loss) |
| 2005 | $184.01M | $17.89M | 9.7% |
| 2004 | $162.12M | $18.63M | 11.5% |
| 2003 | $152.41M | $4.64M | 3.0% |
| 2002 | $130.33M | $0 | 0.0% |
| 2001 | $159.25M | $14.64M | 9.2% |
| 2000 | $68.55M | $7.63M | 11.1% |
| 1999 | $76.40M | $18.40M | 24.1% |
| 1998 | ($134.40M) | $1.80M | N/A (Loss) |
| 1997 | ($7.20M) | $0 | N/A (Loss) |
| 1996 | ($128.80M) | $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.
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 | 6.00% |
| 2026-03-31 | 5.67% |
| 2025-12-31 | 6.17% |
| 2025-09-30 | 5.47% |
| 2025-06-30 | 5.85% |
| 2025-03-31 | 5.04% |
| 2024-12-31 | 4.75% |
| 2024-09-30 | 5.62% |
| 2024-06-30 | 6.51% |
| 2024-03-31 | 9.29% |
| 2023-12-31 | 10.57% |
| 2023-09-30 | 13.66% |
| 2023-06-30 | 11.21% |
| 2023-03-31 | 41.70% |
| 2022-12-31 | 22.31% |
| 2022-09-30 | 24.78% |
| 2022-06-30 | 13.35% |
| 2022-03-31 | 14.18% |
| 2021-12-31 | 235.04% |
| 2021-06-30 | 19.95% |
| 2021-03-31 | 1.50% |
| 2020-12-31 | 1.07% |
| 2020-09-30 | 1.84% |
| 2020-06-30 | 3.31% |
| 2020-03-31 | 6.96% |
| 2019-12-31 | 6.84% |
| 2019-09-30 | 5.90% |
| 2019-06-30 | 6.07% |
| 2019-03-31 | 6.22% |
| 2018-12-31 | 7.06% |
| 2018-09-30 | 7.81% |
| 2018-06-30 | 6.80% |
| 2018-03-31 | 9.32% |
| 2017-12-31 | 6.67% |
| 2017-03-31 | 30.49% |
| 2016-12-31 | 29.17% |
| 2016-09-30 | 11.76% |
| 2016-06-30 | 12.76% |
| 2016-03-31 | 14.17% |
| 2015-12-31 | 36.63% |
| 2015-09-30 | 6.83% |
| 2015-06-30 | 11.67% |
| 2015-03-31 | 13.22% |
| 2014-12-31 | 13.91% |
| 2014-09-30 | 13.71% |
| 2014-06-30 | 4.06% |
| 2014-03-31 | 3.78% |
| 2013-12-31 | 3.82% |
| 2013-09-30 | 817.04% |
| 2012-09-30 | 7.59% |
| 2012-06-30 | 5.80% |
| 2012-03-31 | 6.29% |
| 2011-12-31 | 4.94% |
| 2011-09-30 | 8.56% |
| 2011-06-30 | 8.63% |
| 2011-03-31 | 11.19% |
| 2010-12-31 | 13.62% |
| 2010-09-30 | 11.44% |
| 2010-06-30 | 27.70% |
| 2010-03-31 | 24.21% |
| 2009-12-31 | 23.71% |
| 2009-09-30 | 22.49% |
| 2009-06-30 | 8.88% |
| 2009-03-31 | 12.30% |
| 2008-12-31 | 14.88% |
| 2008-09-30 | 15.57% |
| 2008-06-30 | 21.70% |
| 2008-03-31 | 28.71% |
| 2007-12-31 | 197.75% |
| 2006-09-30 | 109.21% |
| 2006-06-30 | 20.56% |
| 2006-03-31 | 14.28% |
| 2005-12-31 | 9.72% |
| 2005-09-30 | 8.64% |
| 2005-06-30 | 10.41% |
| 2005-03-31 | 8.70% |
| 2004-12-31 | 11.49% |
| 2004-09-30 | 13.08% |
| 2004-06-30 | 9.47% |
| 2004-03-31 | 6.80% |
| 2003-12-31 | 3.05% |
| 2003-09-30 | 2.44% |
| 2003-06-30 | 2.24% |
