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 14.28% is in line with its 5-year average of 14.90%, near the low end of its 5-year range (12.31%–21.38%).
As of the fiscal period ended Tuesday, June 30, 2026. 3.90% below its 12-month average of 14.86%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
14.28%
FCF PAYOUT RATIO AVG TTM
14.86%
FCF PAYOUT RATIO AVG 3Y
15.83%
FCF PAYOUT RATIO AVG 5Y
14.90%
FCF PAYOUT RATIO AVG 10Y
17.42%
FCF PAYOUT RATIO AVG 15Y
28.28%
FCF PAYOUT RATIO AVG 20Y
29.86%
CURRENT VS TTM AVG
-3.90%
CURRENT VS 3Y AVG
-9.75%
CURRENT VS 5Y AVG
-4.13%
CURRENT VS 10Y AVG
-18.02%
CURRENT VS 15Y AVG
-49.50%
CURRENT VS 20Y AVG
-52.16%
FCF Payout Ratio TTM
14.3%
Earnings Payout Ratio
12.9%
Dividend Yield
0.25%
FCF Yield
1.74%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $468.90M | $61.20M | 13.1% |
| 2024 | $276.40M | $59.10M | 21.4% |
| 2023 | $414.50M | $57.00M | 13.8% |
| 2022 | $439.40M | $54.10M | 12.3% |
| 2021 | $330.60M | $51.10M | 15.5% |
| 2020 | $298.10M | $48.10M | 16.1% |
| 2019 | $240.80M | $45.10M | 18.7% |
| 2018 | $183.90M | $42.10M | 22.9% |
| 2017 | $132.50M | $39.10M | 29.5% |
| 2016 | $49.20M | $35.80M | 72.8% |
| 2015 | $80.80M | $32.40M | 40.1% |
| 2014 | $70.80M | $29.10M | 41.1% |
| 2013 | $64.70M | $26.80M | 41.4% |
| 2012 | $55.40M | $24.90M | 44.9% |
| 2011 | $33.90M | $23.20M | 68.4% |
| 2010 | $64.50M | $21.70M | 33.6% |
| 2009 | $29.90M | $20.10M | 67.2% |
| 2008 | ($4.10M) | $18.60M | N/A (Loss) |
| 2007 | ($0.20M) | $17.50M | N/A (Loss) |
| 2006 | $53.50M | $15.90M | 29.7% |
| 2005 | $31.50M | $14.10M | 44.8% |
| 2004 | $11.50M | $12.80M | 111.3% |
| 2003 | $8.40M | $11.80M | 140.5% |
| 2002 | $16.20M | $11.10M | 68.5% |
| 2001 | ($11.40M) | $10.50M | N/A (Loss) |
| 2000 | ($8.70M) | $9.80M | N/A (Loss) |
| 1999 | $6.00M | $10.30M | 171.7% |
| 1998 | ($5.70M) | $9.40M | N/A (Loss) |
| 1997 | $33.30M | $9.40M | 28.2% |
| 1996 | $31.70M | $10.00M | 31.5% |
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 | 14.28% |
| 2026-03-31 | 13.49% |
| 2025-12-31 | 13.05% |
| 2025-09-30 | 16.01% |
| 2025-06-30 | 17.47% |
| 2025-03-31 | 19.42% |
| 2024-12-31 | 21.38% |
| 2024-09-30 | 18.22% |
| 2024-06-30 | 16.27% |
| 2024-03-31 | 14.92% |
| 2023-12-31 | 13.75% |
| 2023-09-30 | 13.40% |
| 2023-06-30 | 14.06% |
| 2023-03-31 | 13.37% |
| 2022-12-31 | 12.31% |
| 2022-09-30 | 13.74% |
| 2022-06-30 | 13.05% |
| 2022-03-31 | 13.59% |
| 2021-12-31 | 15.46% |
| 2021-09-30 | 14.78% |
| 2021-06-30 | 17.29% |
| 2021-03-31 | 15.92% |
| 2020-12-31 | 16.14% |
| 2020-09-30 | 17.38% |
| 2020-06-30 | 16.76% |
| 2020-03-31 | 18.54% |
| 2019-12-31 | 18.73% |
| 2019-09-30 | 20.63% |
| 2019-06-30 | 21.72% |
| 2019-03-31 | 23.05% |
| 2018-12-31 | 22.89% |
| 2018-09-30 | 21.48% |
| 2018-06-30 | 23.62% |
| 2018-03-31 | 24.05% |
| 2017-12-31 | 29.51% |
| 2017-09-30 | 36.55% |
| 2017-06-30 | 45.06% |
| 2017-03-31 | 53.51% |
| 2016-12-31 | 72.76% |
| 2016-09-30 | 72.56% |
| 2016-06-30 | 50.52% |
| 2016-03-31 | 43.06% |
| 2015-12-31 | 40.10% |
| 2015-09-30 | 41.42% |
| 2015-06-30 | 42.48% |
| 2015-03-31 | 48.70% |
| 2014-12-31 | 41.10% |
| 2014-09-30 | 36.19% |
| 2014-06-30 | 41.55% |
| 2014-03-31 | 32.12% |
| 2013-12-31 | 41.42% |
| 2013-09-30 | 34.97% |
| 2013-06-30 | 35.10% |
| 2013-03-31 | 82.95% |
| 2012-12-31 | 44.95% |
| 2012-09-30 | 94.57% |
| 2012-06-30 | 123.71% |
| 2012-03-31 | 93.36% |
| 2011-12-31 | 68.44% |
| 2011-09-30 | 45.42% |
| 2011-06-30 | 34.46% |
| 2011-03-31 | 36.09% |
| 2010-12-31 | 33.64% |
| 2010-09-30 | 32.67% |
| 2010-06-30 | 45.43% |
| 2010-03-31 | 37.99% |
| 2009-12-31 | 67.22% |
| 2007-06-30 | 100.00% |
| 2007-03-31 | 47.95% |
| 2006-12-31 | 29.72% |
| 2006-09-30 | 26.83% |
| 2006-06-30 | 30.63% |
| 2006-03-31 | 41.24% |
| 2005-12-31 | 44.76% |
| 2005-09-30 | 37.23% |
| 2005-06-30 | 46.37% |
| 2005-03-31 | 96.30% |
| 2004-12-31 | 111.30% |
| 2003-12-31 | 140.48% |
| 2003-09-30 | 63.74% |
| 2003-06-30 | 48.10% |
