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 29.99% is 53% below its 5-year average of 64.12%, near the low end of its 5-year range (25.20%–353.91%).
As of the fiscal period ended Tuesday, March 31, 2026. 23.67% below its 12-month average of 39.28%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
29.99%
FCF PAYOUT RATIO AVG TTM
39.28%
FCF PAYOUT RATIO AVG 3Y
78.79%
FCF PAYOUT RATIO AVG 5Y
47.08%
FCF PAYOUT RATIO AVG 10Y
38.92%
FCF PAYOUT RATIO AVG 15Y
34.30%
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-23.67%
CURRENT VS 3Y AVG
-61.94%
CURRENT VS 5Y AVG
-36.31%
CURRENT VS 10Y AVG
-22.96%
CURRENT VS 15Y AVG
-12.59%
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
30.0%
Earnings Payout Ratio
21.8%
Dividend Yield
0.64%
FCF Yield
1.95%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $573.58M | $301.56M | 52.6% |
| 2024 | $369.25M | $279.05M | 75.6% |
| 2023 | $74.94M | $265.11M | 353.8% |
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 | 29.99% |
| 2025-12-31 | 52.63% |
| 2025-09-30 | 43.93% |
| 2025-06-30 | 38.07% |
| 2025-03-31 | 31.79% |
| 2024-12-31 | 75.57% |
| 2023-12-31 | 353.91% |
| 2023-09-30 | 61.46% |
| 2023-06-30 | 55.66% |
| 2023-03-31 | 44.88% |
| 2022-12-31 | 40.19% |
| 2022-09-30 | 66.15% |
| 2022-06-30 | 51.92% |
| 2022-03-31 | 53.59% |
| 2021-12-31 | 68.32% |
| 2021-09-30 | 32.67% |
| 2021-06-30 | 28.30% |
| 2021-03-31 | 25.20% |
| 2020-12-31 | 21.90% |
| 2020-09-30 | 22.47% |
| 2020-06-30 | 24.89% |
| 2020-03-31 | 23.33% |
| 2019-12-31 | 26.08% |
| 2019-09-30 | 27.43% |
| 2018-03-31 | 22.45% |
| 2017-12-31 | 22.70% |
| 2017-09-30 | 20.43% |
| 2014-12-31 | 26.83% |
| 2014-09-30 | 30.19% |
| 2014-06-30 | 35.03% |
| 2014-03-31 | 72.96% |
| 2012-12-31 | 156.68% |
| 2012-06-30 | 20.04% |
| 2012-03-31 | 10.11% |
| 2011-12-31 | 13.11% |
| 2011-09-30 | 7.36% |
| 2011-06-30 | 4.48% |
| 2011-03-31 | 2.85% |
| 2022 |
| $590.00M |
| $237.10M |
| 40.2% |
| 2021 | $319.18M | $218.05M | 68.3% |
| 2020 | $763.62M | $167.21M | 21.9% |
| 2019 | $498.41M | $129.99M | 26.1% |
| 2018 | ($648.25M) | $132.91M | N/A (Loss) |
| 2017 | $537.09M | $121.93M | 22.7% |
| 2016 | ($220.22M) | $78.71M | N/A (Loss) |
| 2015 | ($1.37B) | $68.59M | N/A (Loss) |
| 2014 | $297.30M | $79.78M | 26.8% |
| 2013 | ($1.51B) | $160.01M | N/A (Loss) |
| 2012 | $78.69M | $123.85M | 157.4% |
| 2011 | $485.10M | $63.61M | 13.1% |
| 2010 | $147.36M | $0 | 0.0% |
| 2009 | ($54.71M) | $0 | N/A (Loss) |
| 2008 | ($73.39M) | $0 | N/A (Loss) |
| 2007 | $119.26M | $0 | 0.0% |
| 2006 | $104.72M | $0 | 0.0% |
| 2005 | $30.00M | $0 | 0.0% |
| 2004 | $0.22M | $0 | 0.0% |
| 2003 | ($0.01M) | $0 | N/A (Loss) |
| 2002 | ($0.01M) | $0 | N/A (Loss) |
| 2001 | $0.00M | $0 | 0.0% |
| 2000 | $0.02M | $0 | 0.0% |
| 1998 | $0.06M | $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.
