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 71.51% is 10% below its 5-year average of 79.78%, around the middle of its 5-year range (50.96%–117.56%).
As of the fiscal period ended Tuesday, June 30, 2026. 17.36% below its 12-month average of 86.53%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
71.51%
FCF PAYOUT RATIO AVG TTM
86.53%
FCF PAYOUT RATIO AVG 3Y
77.44%
FCF PAYOUT RATIO AVG 5Y
79.78%
FCF PAYOUT RATIO AVG 10Y
75.46%
FCF PAYOUT RATIO AVG 15Y
72.14%
FCF PAYOUT RATIO AVG 20Y
66.21%
CURRENT VS TTM AVG
-17.36%
CURRENT VS 3Y AVG
-7.65%
CURRENT VS 5Y AVG
-10.36%
CURRENT VS 10Y AVG
-5.23%
CURRENT VS 15Y AVG
-0.86%
CURRENT VS 20Y AVG
+8.01%
FCF Payout Ratio TTM
71.5%
Earnings Payout Ratio
102.9%
Dividend Yield
4.02%
FCF Yield
5.85%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $535.06M | $473.76M | 88.5% |
| 2024 | $743.01M | $423.52M | 57.0% |
| 2023 | $526.48M | $382.65M | 72.7% |
| 2022 | $536.31M | $332.45M | 62.0% |
| 2021 | $324.10M | $294.52M | 90.9% |
| 2020 | $517.94M | $265.71M | 51.3% |
| 2019 | $317.97M | $241.41M | 75.9% |
| 2018 | $153.40M | $209.22M | 136.4% |
| 2017 | $288.64M | $164.15M | 56.9% |
| 2016 | $238.15M | $127.60M | 53.6% |
| 2015 | $199.15M | $98.53M | 49.5% |
| 2014 | $123.47M | $69.87M | 56.6% |
| 2013 | $135.69M | $39.84M | 29.4% |
| 2012 | $161.03M | $256.22M | 159.1% |
| 2011 | $47.53M | $73.28M | 154.2% |
| 2010 | $144.38M | $66.03M | 45.7% |
| 2009 | $82.38M | $57.09M | 69.3% |
| 2008 | $109.50M | $49.35M | 45.1% |
| 2007 | $101.93M | $36.74M | 36.1% |
| 2006 | $58.66M | $26.37M | 45.0% |
| 2005 | $28.56M | $16.98M | 59.5% |
| 2004 | $51.89M | $10.10M | 19.5% |
| 2003 | $57.18M | $5.20M | 9.1% |
| 2002 | $62.32M | $3.02M | 4.8% |
| 2001 | $47.95M | $2.64M | 5.5% |
| 2000 | $42.03M | $2.74M | 6.5% |
| 1999 | $9.30M | $2.90M | 31.2% |
| 1998 | ($28.20M) | $2.60M | N/A (Loss) |
| 1997 | ($148.10M) | $2.40M | N/A (Loss) |
| 1996 | ($29.70M) | $1.90M | 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 | 71.51% |
| 2026-03-31 | 69.98% |
| 2025-12-31 | 88.41% |
| 2025-09-30 | 89.05% |
| 2025-06-30 | 113.71% |
| 2025-03-31 | 94.74% |
| 2024-12-31 | 57.00% |
| 2024-09-30 | 62.20% |
| 2024-06-30 | 50.96% |
| 2024-03-31 | 56.60% |
| 2023-12-31 | 72.68% |
| 2023-09-30 | 84.05% |
| 2023-06-30 | 95.81% |
| 2023-03-31 | 59.46% |
| 2022-12-31 | 61.99% |
| 2022-09-30 | 91.17% |
| 2022-06-30 | 101.55% |
| 2022-03-31 | 117.56% |
| 2021-12-31 | 90.87% |
| 2021-09-30 | 62.59% |
| 2021-06-30 | 83.53% |
| 2021-03-31 | 62.42% |
| 2020-12-31 | 51.30% |
| 2020-09-30 | 52.14% |
| 2020-06-30 | 48.94% |
| 2020-03-31 | 79.01% |
| 2019-12-31 | 75.92% |
| 2019-09-30 | 83.90% |
| 2019-06-30 | 94.97% |
| 2019-03-31 | 90.01% |
| 2018-12-31 | 136.38% |
| 2018-09-30 | 114.12% |
| 2018-06-30 | 79.02% |
| 2018-03-31 | 79.50% |
| 2017-12-31 | 55.96% |
| 2017-09-30 | 57.55% |
| 2017-06-30 | 63.93% |
| 2017-03-31 | 59.92% |
| 2016-12-31 | 54.49% |
| 2016-09-30 | 44.95% |
| 2016-06-30 | 33.94% |
| 2016-03-31 | 40.53% |
| 2015-12-31 | 49.84% |
| 2015-09-30 | 55.73% |
| 2015-06-30 | 86.20% |
| 2015-03-31 | 100.08% |
| 2014-12-31 | 56.59% |
| 2014-09-30 | 49.07% |
| 2014-06-30 | 33.96% |
| 2014-03-31 | 25.15% |
| 2013-12-31 | 29.36% |
| 2013-09-30 | 150.47% |
| 2013-06-30 | 161.82% |
| 2013-03-31 | 181.18% |
| 2012-12-31 | 159.12% |
| 2012-09-30 | 47.57% |
| 2012-06-30 | 271.57% |
| 2012-03-31 | 77.03% |
| 2011-12-31 | 154.18% |
| 2011-06-30 | 159.72% |
| 2011-03-31 | 64.08% |
| 2010-12-31 | 45.73% |
| 2010-09-30 | 46.37% |
| 2010-06-30 | 57.57% |
| 2010-03-31 | 95.56% |
| 2009-12-31 | 69.30% |
| 2009-09-30 | 49.52% |
| 2009-06-30 | 57.50% |
| 2009-03-31 | 50.35% |
| 2008-12-31 | 45.07% |
| 2008-09-30 | 35.54% |
| 2008-06-30 | 19.37% |
| 2008-03-31 | 17.50% |
| 2007-12-31 | 15.89% |
| 2007-09-30 | 21.21% |
| 2007-06-30 | 28.66% |
| 2007-03-31 | 28.89% |
| 2006-12-31 | 45.04% |
| 2006-06-30 | 144.89% |
| 2006-03-31 | 66.48% |
| 2005-12-31 | 59.57% |
| 2005-09-30 | 18.21% |
| 2005-06-30 | 22.59% |
| 2005-03-31 | 25.46% |
| 2004-12-31 | 19.50% |
| 2004-09-30 | 42.65% |
| 2004-06-30 | 24.76% |
| 2004-03-31 | 19.15% |
| 2003-12-31 | 9.10% |
| 2003-09-30 | 6.41% |
| 2003-06-30 | 5.88% |
