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 66.75% is in line with its 5-year average of 63.48%, near the low end of its 5-year range (39.25%–641.30%).
As of the fiscal period ended Sunday, May 31, 2026. 5.90% above its 12-month average of 63.03%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
66.75%
FCF PAYOUT RATIO AVG TTM
63.03%
FCF PAYOUT RATIO AVG 3Y
56.75%
FCF PAYOUT RATIO AVG 5Y
63.48%
FCF PAYOUT RATIO AVG 10Y
60.23%
FCF PAYOUT RATIO AVG 15Y
57.43%
FCF PAYOUT RATIO AVG 20Y
55.02%
CURRENT VS TTM AVG
+5.90%
CURRENT VS 3Y AVG
+17.62%
CURRENT VS 5Y AVG
+5.15%
CURRENT VS 10Y AVG
+10.83%
CURRENT VS 15Y AVG
+16.23%
CURRENT VS 20Y AVG
+21.32%
FCF Payout Ratio TTM
66.7%
Earnings Payout Ratio
59.7%
Dividend Yield
1.74%
FCF Yield
2.57%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $83.40M | $50.26M | 60.3% |
| 2024 | $87.83M | $47.20M | 53.7% |
| 2023 | $91.52M | $44.58M | 48.7% |
| 2022 | ($5.70M) | $41.99M | N/A (Loss) |
| 2021 | $69.66M | $38.23M | 54.9% |
| 2020 | $53.36M | $36.04M | 67.5% |
| 2019 | $49.57M | $32.89M | 66.3% |
| 2018 | $52.29M | $29.59M | 56.6% |
| 2017 | $32.19M | $26.81M | 83.3% |
| 2016 | $56.25M | $23.67M | 42.1% |
| 2015 | $49.28M | $21.72M | 44.1% |
| 2014 | $32.85M | $20.18M | 61.5% |
| 2013 | $48.72M | $19.04M | 39.1% |
| 2012 | $30.48M | $18.23M | 59.8% |
| 2011 | $27.13M | $18.23M | 67.2% |
| 2010 | $54.66M | $16.66M | 30.5% |
| 2009 | $31.62M | $16.55M | 52.3% |
| 2008 | $23.61M | $16.69M | 70.7% |
| 2007 | $49.09M | $16.61M | 33.8% |
| 2006 | $25.25M | $14.76M | 58.5% |
| 2005 | $28.46M | $13.97M | 49.1% |
| 2004 | $29.13M | $13.56M | 46.5% |
| 2003 | $37.89M | $13.27M | 35.0% |
| 2002 | $34.36M | $16.09M | 46.8% |
| 2001 | $18.31M | $18.29M | 99.9% |
| 2000 | $18.42M | $19.80M | 107.5% |
| 1999 | $1.20M | $20.00M | n/m |
| 1998 | $22.40M | $20.00M | 89.3% |
| 1997 | $21.80M | $19.40M | 89.0% |
| 1996 | $16.80M | $19.10M | 113.7% |
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 |
|---|---|
| 2026-05-31 | 66.75% |
| 2026-02-28 | 61.90% |
| 2025-11-30 | 65.28% |
| 2025-08-31 | 60.27% |
| 2025-05-31 | 60.94% |
| 2025-02-28 | 73.87% |
| 2024-11-30 | 63.03% |
| 2024-08-31 | 53.74% |
| 2024-05-31 | 45.62% |
| 2024-02-29 | 39.25% |
| 2023-11-30 | 41.63% |
| 2023-08-31 | 48.71% |
| 2023-05-31 | 98.30% |
| 2023-02-28 | 378.27% |
| 2022-11-30 | 641.30% |
| 2022-05-31 | 242.33% |
| 2022-02-28 | 115.60% |
| 2021-11-30 | 84.33% |
| 2021-08-31 | 54.88% |
| 2021-05-31 | 45.10% |
| 2021-02-28 | 48.71% |
| 2020-11-30 | 57.35% |
| 2020-08-31 | 67.54% |
| 2020-05-31 | 77.76% |
| 2020-02-29 | 68.99% |
| 2019-11-30 | 66.10% |
| 2019-08-31 | 66.35% |
| 2019-05-31 | 65.15% |
| 2019-02-28 | 58.94% |
| 2018-11-30 | 62.16% |
| 2018-08-31 | 56.58% |
| 2018-05-31 | 62.13% |
| 2018-02-28 | 65.78% |
| 2017-11-30 | 66.45% |
| 2017-08-31 | 83.29% |
| 2017-05-31 | 81.73% |
| 2017-02-28 | 51.13% |
| 2016-11-30 | 54.98% |
| 2016-08-31 | 42.08% |
| 2016-05-31 | 39.39% |
| 2016-02-29 | 48.57% |
| 2015-11-30 | 39.91% |
| 2015-08-31 | 44.07% |
| 2015-05-31 | 45.44% |
| 2015-02-28 | 63.14% |
| 2014-11-30 | 58.14% |
| 2014-08-31 | 61.45% |
| 2014-05-31 | 62.42% |
| 2014-02-28 | 51.40% |
| 2013-11-30 | 49.08% |
| 2013-08-31 | 39.09% |
| 2013-05-31 | 45.67% |
| 2013-02-28 | 48.16% |
| 2012-11-30 | 55.08% |
| 2012-08-31 | 59.80% |
| 2012-05-31 | 58.56% |
| 2012-02-29 | 54.19% |
| 2011-11-30 | 50.63% |
| 2011-08-31 | 67.19% |
| 2011-05-31 | 48.72% |
| 2011-02-28 | 45.28% |
| 2010-11-30 | 40.39% |
| 2010-08-31 | 30.48% |
| 2010-05-31 | 33.59% |
| 2010-02-28 | 37.19% |
| 2009-11-30 | 36.12% |
| 2009-08-31 | 52.33% |
| 2009-05-31 | 56.74% |
| 2009-02-28 | 52.97% |
| 2008-11-30 | 67.77% |
| 2008-08-31 | 70.69% |
| 2008-05-31 | 61.58% |
| 2008-02-29 | 50.85% |
| 2007-11-30 | 47.15% |
| 2007-08-31 | 33.83% |
| 2007-05-31 | 42.90% |
| 2007-02-28 | 49.43% |
| 2006-11-30 | 53.75% |
| 2006-08-31 | 58.46% |
| 2006-05-31 | 46.17% |
| 2006-02-28 | 50.58% |
| 2005-11-30 | 51.28% |
| 2005-08-31 | 49.07% |
| 2005-05-31 | 48.93% |
| 2005-02-28 | 55.03% |
| 2004-11-30 | 39.32% |
| 2004-08-31 | 46.54% |
| 2004-05-31 | 43.45% |
| 2004-02-29 | 35.97% |
| 2003-11-30 | 41.80% |
| 2003-08-31 | 35.03% |
| 2003-05-31 | 33.22% |
