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 88.91% is 27% above its 5-year average of 69.86%, around the middle of its 5-year range (4.27%–127.04%).
As of the fiscal period ended Tuesday, June 30, 2026. 9.00% below its 12-month average of 97.70%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted. Q2 FY2026 (2026-06-30): 88.91%.
FCF PAYOUT RATIO
88.91%
FCF PAYOUT RATIO AVG TTM
97.70%
FCF PAYOUT RATIO AVG 3Y
102.75%
FCF PAYOUT RATIO AVG 5Y
69.86%
FCF PAYOUT RATIO AVG 10Y
69.34%
FCF PAYOUT RATIO AVG 15Y
71.97%
FCF PAYOUT RATIO AVG 20Y
78.82%
CURRENT VS TTM AVG
-9.00%
CURRENT VS 3Y AVG
-13.48%
CURRENT VS 5Y AVG
+27.25%
CURRENT VS 10Y AVG
+28.22%
CURRENT VS 15Y AVG
+23.53%
CURRENT VS 20Y AVG
+12.79%
FCF Payout Ratio TTM
88.9%
Earnings Payout Ratio
116.5%
Dividend Yield
9.68%
FCF Yield
11.04%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $380.02M | $337.18M | 88.7% |
| 2024 | $374.39M | $363.43M | 97.1% |
| 2023 | $362.08M | $364.58M | 100.7% |
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 | 88.91% |
| 2026-03-31 | 98.50% |
| 2025-12-31 | 88.73% |
| 2025-09-30 | 97.12% |
| 2025-06-30 | 115.23% |
| 2025-03-31 | 104.50% |
| 2024-12-31 | 97.07% |
| 2024-09-30 | 127.04% |
| 2024-06-30 | 118.00% |
| 2024-03-31 | 94.49% |
| 2023-12-31 | 100.69% |
| 2023-09-30 | 60.55% |
| 2023-06-30 | 46.07% |
| 2023-03-31 | 46.69% |
| 2022-12-31 | 38.06% |
| 2022-09-30 | 41.61% |
| 2022-06-30 | 41.36% |
| 2022-03-31 | 31.11% |
| 2021-12-31 | 19.16% |
| 2021-09-30 | 8.00% |
| 2021-06-30 | 4.27% |
| 2020-12-31 | 18.45% |
| 2020-09-30 | 54.75% |
| 2020-06-30 | 125.29% |
| 2020-03-31 | 149.74% |
| 2019-12-31 | 131.67% |
| 2019-09-30 | 117.55% |
| 2019-06-30 | 79.59% |
| 2019-03-31 | 78.58% |
| 2018-12-31 | 59.55% |
| 2018-09-30 | 59.93% |
| 2018-06-30 | 60.74% |
| 2018-03-31 | 56.98% |
| 2017-12-31 | 57.00% |
| 2017-09-30 | 41.50% |
| 2017-06-30 | 31.58% |
| 2017-03-31 | 30.09% |
| 2016-12-31 | 40.77% |
| 2016-09-30 | 45.89% |
| 2016-06-30 | 66.76% |
| 2016-03-31 | 73.53% |
| 2015-12-31 | 63.54% |
| 2015-09-30 | 69.72% |
| 2015-06-30 | 69.66% |
| 2015-03-31 | 62.90% |
| 2014-12-31 | 67.25% |
| 2014-09-30 | 67.57% |
| 2014-06-30 | 71.53% |
| 2014-03-31 | 87.94% |
| 2013-12-31 | 73.95% |
| 2013-09-30 | 78.70% |
| 2013-06-30 | 79.64% |
| 2013-03-31 | 106.07% |
| 2012-12-31 | 234.83% |
| 2012-09-30 | 246.43% |
| 2012-06-30 | 205.55% |
| 2012-03-31 | 122.06% |
| 2011-12-31 | 86.43% |
| 2011-09-30 | 72.84% |
| 2011-06-30 | 75.34% |
| 2011-03-31 | 74.52% |
| 2010-12-31 | 80.77% |
| 2010-09-30 | 141.31% |
| 2010-06-30 | 359.41% |
| 2008-12-31 | 248.23% |
| 2008-09-30 | 143.82% |
| 2008-06-30 | 89.41% |
| 2008-03-31 | 96.80% |
| 2007-12-31 | 89.47% |
| 2007-09-30 | 84.31% |
| 2007-06-30 | 104.93% |
| 2007-03-31 | 124.45% |
| 2006-12-31 | 145.78% |
| 2006-09-30 | 214.66% |
| 2006-06-30 | 160.93% |
| 2006-03-31 | 106.59% |
| 2005-12-31 | 113.38% |
| 2005-09-30 | 76.70% |
| 2005-06-30 | 57.90% |
| 2005-03-31 | 62.94% |
| 2004-12-31 | 51.35% |
| 2004-09-30 | 30.53% |
| 2004-06-30 | 38.79% |
| 2004-03-31 | 40.49% |
| 2003-12-31 | 50.20% |
| 2003-09-30 | 49.28% |
| 2003-06-30 | 49.41% |
| 2022 |
| $515.96M |
| $196.35M |
| 38.1% |
| 2021 | $272.20M | $52.16M | 19.2% |
| 2020 | $280.53M | $51.75M | 18.4% |
| 2019 | $211.46M | $278.43M | 131.7% |
| 2018 | $463.34M | $275.90M | 59.5% |
| 2017 | $422.49M | $240.81M | 57.0% |
| 2016 | $608.09M | $247.91M | 40.8% |
| 2015 | $500.52M | $346.80M | 69.3% |
| 2014 | $429.54M | $317.63M | 73.9% |
| 2013 | $372.45M | $288.44M | 77.4% |
| 2012 | $127.22M | $257.92M | 202.7% |
| 2011 | $252.06M | $217.86M | 86.4% |
| 2010 | $230.71M | $186.35M | 80.8% |
| 2009 | ($45.42M) | $167.13M | N/A (Loss) |
| 2008 | $84.56M | $135.93M | 160.7% |
| 2007 | $124.42M | $111.32M | 89.5% |
| 2006 | $62.29M | $90.81M | 145.8% |
| 2005 | $83.10M | $64.71M | 77.9% |
| 2004 | $90.34M | $46.39M | 51.3% |
| 2003 | $54.65M | $0 | 0.0% |
| 2002 | $36.05M | $0 | 0.0% |
| 2001 | $9.94M | $0 | 0.0% |
| 2000 | $25.22M | $31.44M | 124.7% |
| 1999 | ($20.94M) | $3.62M | N/A (Loss) |
| 1998 | $33.30M | $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.
