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 24.21% is 22% below its 5-year average of 30.97%, near the low end of its 5-year range (16.98%–93.33%).
As of the fiscal period ended Tuesday, March 31, 2026. 2.79% above its 12-month average of 23.55%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
24.21%
FCF PAYOUT RATIO AVG TTM
23.55%
FCF PAYOUT RATIO AVG 3Y
25.75%
FCF PAYOUT RATIO AVG 5Y
24.00%
FCF PAYOUT RATIO AVG 10Y
21.38%
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+2.79%
CURRENT VS 3Y AVG
-5.98%
CURRENT VS 5Y AVG
+0.87%
CURRENT VS 10Y AVG
+13.24%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
24.2%
Earnings Payout Ratio
27.2%
Dividend Yield
0.61%
FCF Yield
2.35%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $627.44M | $145.15M | 23.1% |
| 2024 | $529.54M | $145.09M | 27.4% |
| 2023 | ($166.36M) | $145.04M | 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 |
|---|---|
| 2026-03-31 | 24.21% |
| 2025-12-31 | 23.92% |
| 2025-09-30 | 26.67% |
| 2025-06-30 | 23.13% |
| 2025-03-31 | 19.83% |
| 2024-12-31 | 18.81% |
| 2024-09-30 | 20.85% |
| 2024-06-30 | 27.40% |
| 2024-03-31 | 46.93% |
| 2022-12-31 | 93.33% |
| 2022-09-30 | 50.25% |
| 2022-06-30 | 41.50% |
| 2022-03-31 | 30.35% |
| 2021-12-31 | 25.74% |
| 2021-09-30 | 19.54% |
| 2021-06-30 | 16.98% |
| 2021-03-31 | 17.09% |
| 2020-12-31 | 18.24% |
| 2020-09-30 | 19.53% |
| 2020-06-30 | 18.31% |
| 2020-03-31 | 19.03% |
| 2019-12-31 | 21.60% |
| 2019-09-30 | 26.64% |
| 2019-06-30 | 28.59% |
| 2019-03-31 | 27.48% |
| 2018-12-31 | 11.95% |
| 2018-09-30 | 5.80% |
| 2016-03-31 | 0.01% |
| 2015-12-31 | 0.01% |
| 2015-09-30 | 12.11% |
| 2015-06-30 | 24.66% |
| 2015-03-31 | 18.70% |
| 2014-12-31 | 27.05% |
| 2014-09-30 | 13.72% |
| 2014-03-31 | 14.55% |
| 2013-12-31 | 9.97% |
| 2013-09-30 | 9.99% |
| 2013-06-30 | 12.37% |
| 2022 |
| $356.79M |
| $148.06M |
| 41.5% |
| 2021 | $593.70M | $100.81M | 17.0% |
| 2020 | $429.67M | $78.68M | 18.3% |
| 2019 | $249.57M | $71.36M | 28.6% |
| 2018 | $322.93M | $0 | 0.0% |
| 2017 | $104.80M | $0 | 0.0% |
| 2016 | $191.26M | $0 | 0.0% |
| 2015 | $121.82M | $15.02M | 12.3% |
| 2014 | $117.28M | $0 | 0.0% |
| 2013 | $126.53M | $15.65M | 12.4% |
| 2012 | $78.48M | $0 | 0.0% |
| 2011 | $62.36M | $0 | 0.0% |
| 2010 | ($26.60M) | $0 | N/A (Loss) |
| 2009 | $6.99M | $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.
