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 38.06% is 52% below its 5-year average of 79.39%, near the low end of its 5-year range (18.94%–342.48%).
As of the fiscal period ended Tuesday, June 30, 2026. 69.18% below its 12-month average of 123.51%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
38.06%
FCF PAYOUT RATIO AVG TTM
123.51%
FCF PAYOUT RATIO AVG 3Y
92.24%
FCF PAYOUT RATIO AVG 5Y
79.39%
FCF PAYOUT RATIO AVG 10Y
50.46%
FCF PAYOUT RATIO AVG 15Y
35.86%
FCF PAYOUT RATIO AVG 20Y
28.77%
CURRENT VS TTM AVG
-69.18%
CURRENT VS 3Y AVG
-58.73%
CURRENT VS 5Y AVG
-52.05%
CURRENT VS 10Y AVG
-24.57%
CURRENT VS 15Y AVG
+6.15%
CURRENT VS 20Y AVG
+32.31%
FCF Payout Ratio TTM
38.1%
Earnings Payout Ratio
N/A
Dividend Yield
1.24%
FCF Yield
3333.33%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $692.47M | $357.28M | 51.6% |
| 2024 | ($992.65M) | $311.28M | N/A (Loss) |
| 2023 | ($827.96M) | $187.19M | N/A (Loss) |
| 2022 | $646.20M | $184.43M | 28.5% |
| 2021 | ($609.41M) | $177.85M | N/A (Loss) |
| 2020 | ($51.56M) | $161.82M | N/A (Loss) |
| 2019 | ($132.42M) | $152.20M | N/A (Loss) |
| 2018 | ($153.83M) | $144.60M | N/A (Loss) |
| 2017 | ($13.72M) | $140.56M | N/A (Loss) |
| 2016 | $536.75M | $135.35M | 25.2% |
| 2015 | $133.04M | $119.30M | 89.7% |
| 2014 | $382.03M | $84.10M | 22.0% |
| 2013 | $277.51M | $78.11M | 28.1% |
| 2012 | $207.89M | $69.11M | 33.2% |
| 2011 | $259.84M | $57.76M | 22.2% |
| 2010 | $255.83M | $49.64M | 19.4% |
| 2009 | $257.74M | $56.14M | 21.8% |
| 2008 | $216.01M | $55.94M | 25.9% |
| 2007 | $143.80M | $40.03M | 27.8% |
| 2006 | $276.45M | $31.58M | 11.4% |
| 2005 | $98.78M | $29.85M | 30.2% |
| 2004 | $133.90M | $30.14M | 22.5% |
| 2003 | $109.04M | $26.23M | 24.1% |
| 2002 | $106.39M | $22.98M | 21.6% |
| 2001 | $94.06M | $23.84M | 25.3% |
| 2000 | $102.82M | $19.75M | 19.2% |
| 1999 | $86.73M | $18.80M | 21.7% |
| 1998 | $60.47M | $19.27M | 31.9% |
| 1997 | $13.52M | $16.56M | 122.5% |
| 1996 | ($61.97M) | $14.23M | 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 | 38.06% |
| 2026-03-31 | 61.90% |
| 2025-12-31 | 51.60% |
| 2025-09-30 | 342.48% |
| 2023-09-30 | 40.12% |
| 2023-06-30 | 19.28% |
| 2023-03-31 | 18.94% |
| 2022-12-31 | 28.54% |
| 2021-06-30 | 113.54% |
| 2018-06-30 | 176.00% |
| 2017-09-30 | 123.51% |
| 2017-06-30 | 59.74% |
| 2017-03-31 | 30.44% |
| 2016-12-31 | 25.22% |
| 2016-09-30 | 45.78% |
| 2016-06-30 | 49.84% |
| 2016-03-31 | 50.32% |
| 2015-12-31 | 89.67% |
| 2015-09-30 | 59.86% |
| 2015-06-30 | 62.59% |
| 2015-03-31 | 35.12% |
| 2014-12-31 | 22.01% |
| 2014-09-30 | 18.35% |
| 2014-06-30 | 17.85% |
| 2014-03-31 | 22.21% |
| 2013-12-31 | 28.15% |
| 2013-09-30 | 25.25% |
| 2013-06-30 | 33.18% |
| 2013-03-31 | 39.10% |
| 2012-12-31 | 33.24% |
| 2012-09-30 | 29.15% |
| 2012-06-30 | 22.85% |
| 2012-03-31 | 17.24% |
| 2011-12-31 | 19.46% |
| 2011-09-30 | 29.64% |
| 2011-06-30 | 22.84% |
| 2011-03-31 | 19.03% |
| 2010-12-31 | 19.40% |
| 2010-09-30 | 16.51% |
| 2010-06-30 | 15.63% |
| 2010-03-31 | 15.08% |
| 2009-12-31 | 18.32% |
| 2009-09-30 | 18.93% |
| 2009-06-30 | 28.20% |
| 2009-03-31 | 30.17% |
| 2008-12-31 | 25.89% |
| 2008-09-30 | 27.07% |
| 2008-06-30 | 24.17% |
| 2008-03-31 | 28.78% |
| 2007-12-31 | 27.84% |
| 2007-09-30 | 18.30% |
| 2007-06-30 | 16.23% |
| 2007-03-31 | 13.62% |
| 2006-12-31 | 11.42% |
| 2006-09-30 | 16.02% |
| 2006-06-30 | 18.76% |
| 2006-03-31 | 23.81% |
| 2005-12-31 | 30.22% |
| 2005-09-30 | 35.94% |
| 2005-06-30 | 39.05% |
| 2005-03-31 | 37.57% |
| 2004-12-31 | 22.51% |
| 2004-09-30 | 21.85% |
| 2004-06-30 | 24.46% |
| 2004-03-31 | 25.48% |
| 2003-12-31 | 24.05% |
| 2003-09-30 | 30.86% |
| 2003-06-30 | 21.90% |
