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 30.97% is 16% below its 5-year average of 36.96%, near the low end of its 5-year range (30.05%–55.19%).
As of the fiscal period ended Tuesday, June 30, 2026. 9.13% below its 12-month average of 34.08%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
30.97%
FCF PAYOUT RATIO AVG TTM
34.08%
FCF PAYOUT RATIO AVG 3Y
35.80%
FCF PAYOUT RATIO AVG 5Y
36.04%
FCF PAYOUT RATIO AVG 10Y
34.80%
FCF PAYOUT RATIO AVG 15Y
33.38%
FCF PAYOUT RATIO AVG 20Y
31.50%
CURRENT VS TTM AVG
-9.13%
CURRENT VS 3Y AVG
-13.50%
CURRENT VS 5Y AVG
-14.09%
CURRENT VS 10Y AVG
-11.02%
CURRENT VS 15Y AVG
-7.22%
CURRENT VS 20Y AVG
-1.70%
FCF Payout Ratio TTM
31.0%
Earnings Payout Ratio
37.3%
Dividend Yield
2.25%
FCF Yield
7.22%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $546.00M | $195.70M | 35.8% |
| 2024 | $473.80M | $190.40M | 40.2% |
| 2023 | $597.70M | $183.50M | 30.7% |
| 2022 | $321.10M | $177.20M | 55.2% |
| 2021 | $566.00M | $170.10M | 30.1% |
| 2020 | $505.30M | $158.70M | 31.4% |
| 2019 | $391.80M | $149.20M | 38.1% |
| 2018 | $363.70M | $130.10M | 35.8% |
| 2017 | $232.20M | $96.90M | 41.7% |
| 2016 | $365.90M | $84.20M | 23.0% |
| 2015 | $271.70M | $67.80M | 25.0% |
| 2014 | $177.80M | $54.40M | 30.6% |
| 2013 | $181.90M | $42.60M | 23.4% |
| 2012 | $73.90M | $33.20M | 44.9% |
| 2011 | $1.50M | $27.70M | n/m |
| 2010 | $71.30M | $24.70M | 34.6% |
| 2009 | $210.60M | $21.40M | 10.2% |
| 2008 | $40.50M | $22.30M | 55.1% |
| 2007 | $119.10M | $21.50M | 18.1% |
| 2006 | $73.20M | $20.10M | 27.5% |
| 2005 | $136.10M | $19.00M | 14.0% |
| 2004 | $18.20M | $18.20M | 100.0% |
| 2003 | ($19.70M) | $16.80M | N/A (Loss) |
| 2002 | $72.69M | $14.28M | 19.6% |
| 2001 | $14.51M | $12.32M | 84.9% |
| 2000 | $46.25M | $11.72M | 25.3% |
| 1999 | $15.20M | $11.17M | 73.5% |
| 1998 | $46.81M | $11.05M | 23.6% |
| 1997 | ($70.77M) | $12.68M | N/A (Loss) |
| 1996 | $156.27M | $13.81M | 8.8% |
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 | 30.97% |
| 2026-03-31 | 30.38% |
| 2025-12-31 | 35.84% |
| 2025-09-30 | 34.03% |
| 2025-06-30 | 39.16% |
| 2025-03-31 | 47.29% |
| 2024-12-31 | 40.19% |
| 2024-09-30 | 39.00% |
| 2024-06-30 | 38.91% |
| 2024-03-31 | 32.35% |
| 2023-12-31 | 30.70% |
| 2023-09-30 | 32.84% |
| 2023-06-30 | 33.73% |
| 2023-03-31 | 41.81% |
| 2022-12-31 | 55.19% |
| 2022-09-30 | 44.14% |
| 2022-06-30 | 41.02% |
| 2022-03-31 | 35.68% |
| 2021-12-31 | 30.05% |
| 2021-09-30 | 30.86% |
| 2021-06-30 | 31.93% |
| 2021-03-31 | 29.37% |
| 2020-12-31 | 31.41% |
| 2020-09-30 | 34.16% |
| 2020-06-30 | 34.84% |
| 2020-03-31 | 34.94% |
| 2019-12-31 | 38.08% |
| 2019-09-30 | 40.69% |
| 2019-06-30 | 42.20% |
| 2019-03-31 | 40.24% |
| 2018-12-31 | 35.77% |
| 2018-09-30 | 30.76% |
| 2018-06-30 | 33.47% |
| 2018-03-31 | 36.14% |
| 2017-12-31 | 41.73% |
| 2017-09-30 | 38.32% |
| 2017-06-30 | 31.74% |
| 2017-03-31 | 26.44% |
| 2016-12-31 | 23.01% |
| 2016-09-30 | 26.84% |
| 2016-06-30 | 21.00% |
| 2016-03-31 | 24.20% |
| 2015-12-31 | 24.95% |
| 2015-09-30 | 24.90% |
| 2015-06-30 | 36.75% |
| 2015-03-31 | 33.35% |
| 2014-12-31 | 30.60% |
| 2014-09-30 | 33.04% |
| 2014-06-30 | 32.12% |
| 2014-03-31 | 31.13% |
| 2013-12-31 | 23.42% |
| 2013-09-30 | 24.43% |
| 2013-06-30 | 23.24% |
| 2013-03-31 | 32.72% |
| 2012-12-31 | 44.93% |
| 2012-09-30 | 22.95% |
| 2012-06-30 | 34.30% |
| 2012-03-31 | 57.78% |
| 2011-03-31 | 85.14% |
| 2010-12-31 | 34.64% |
| 2010-09-30 | 33.66% |
| 2010-06-30 | 14.22% |
| 2010-03-31 | 12.05% |
| 2009-12-31 | 10.16% |
| 2009-09-30 | 12.79% |
| 2009-06-30 | 19.83% |
| 2009-03-31 | 35.43% |
| 2008-12-31 | 55.06% |
| 2008-09-30 | 22.11% |
| 2008-06-30 | 18.95% |
| 2008-03-31 | 17.73% |
| 2007-12-31 | 18.05% |
| 2007-09-30 | 20.25% |
| 2007-06-30 | 26.40% |
| 2007-03-31 | 34.69% |
| 2006-12-31 | 27.46% |
| 2006-09-30 | 38.18% |
| 2006-06-30 | 18.17% |
| 2006-03-31 | 16.34% |
| 2005-12-31 | 13.96% |
| 2005-09-30 | 14.72% |
| 2005-06-30 | 30.92% |
| 2005-03-31 | 41.29% |
| 2004-12-31 | 100.00% |
| 2003-06-30 | 116.84% |
