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 69.32% is 17% above its 5-year average of 59.16%, near the high end of its 5-year range (45.61%–72.12%).
As of the fiscal period ended Sunday, August 2, 2026. 13.57% above its 12-month average of 61.04%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted. Q4 FY2026 (2026-08-02): 69.32%.
FCF PAYOUT RATIO
69.32%
FCF PAYOUT RATIO AVG TTM
61.04%
FCF PAYOUT RATIO AVG 3Y
63.55%
FCF PAYOUT RATIO AVG 5Y
59.16%
FCF PAYOUT RATIO AVG 10Y
51.42%
FCF PAYOUT RATIO AVG 15Y
50.81%
FCF PAYOUT RATIO AVG 20Y
51.11%
CURRENT VS TTM AVG
+13.57%
CURRENT VS 3Y AVG
+9.08%
CURRENT VS 5Y AVG
+17.17%
CURRENT VS 10Y AVG
+34.82%
CURRENT VS 15Y AVG
+36.43%
CURRENT VS 20Y AVG
+35.63%
FCF Payout Ratio TTM
69.3%
Earnings Payout Ratio
119.1%
Dividend Yield
7.43%
FCF Yield
6.65%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $678.00M | $470.00M | 69.3% |
| 2025 | $705.00M | $459.00M | 65.1% |
| 2024 | $668.00M | $445.00M | 66.6% |
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 |
|---|---|
| 2026-08-02 | 69.32% |
| 2026-05-03 | 52.34% |
| 2026-02-01 | 51.03% |
| 2025-11-02 | 67.39% |
| 2025-08-03 | 65.11% |
| 2025-04-27 | 62.79% |
| 2025-01-26 | 57.96% |
| 2024-10-27 | 59.44% |
| 2024-07-31 | 66.62% |
| 2024-04-28 | 70.30% |
| 2024-01-28 | 72.12% |
| 2023-10-29 | 68.20% |
| 2023-07-31 | 57.83% |
| 2023-04-30 | 65.93% |
| 2023-01-29 | 51.08% |
| 2022-10-30 | 51.72% |
| 2022-07-31 | 48.03% |
| 2022-05-01 | 45.61% |
| 2022-01-30 | 49.24% |
| 2021-10-31 | 51.20% |
| 2021-07-31 | 57.76% |
| 2021-05-02 | 49.04% |
| 2021-01-31 | 39.63% |
| 2020-11-01 | 38.16% |
| 2020-07-31 | 38.83% |
| 2020-04-26 | 40.67% |
| 2020-01-26 | 49.19% |
| 2019-10-27 | 43.25% |
| 2019-07-31 | 41.72% |
| 2019-04-28 | 43.56% |
| 2019-01-27 | 41.45% |
| 2018-10-28 | 47.52% |
| 2018-07-31 | 47.44% |
| 2018-04-29 | 45.52% |
| 2018-01-28 | 45.98% |
| 2017-10-29 | 47.36% |
| 2017-07-31 | 44.07% |
| 2017-04-30 | 41.84% |
| 2017-01-29 | 36.46% |
| 2016-10-30 | 33.91% |
| 2016-07-31 | 33.91% |
| 2016-05-01 | 36.92% |
| 2016-01-31 | 40.75% |
| 2015-11-01 | 46.29% |
| 2015-07-31 | 49.13% |
| 2015-05-03 | 55.17% |
| 2015-02-01 | 52.18% |
| 2014-11-02 | 57.08% |
| 2014-07-31 | 70.83% |
| 2014-04-27 | 49.92% |
| 2014-01-26 | 36.98% |
| 2013-10-27 | 59.14% |
| 2013-07-31 | 53.73% |
| 2013-04-28 | 57.90% |
| 2013-01-27 | 68.45% |
| 2012-10-28 | 46.31% |
| 2012-07-31 | 46.80% |
| 2012-04-29 | 46.30% |
| 2012-01-29 | 44.89% |
| 2011-10-30 | 39.32% |
| 2011-07-31 | 43.45% |
| 2011-05-01 | 48.28% |
| 2011-01-30 | 49.87% |
| 2010-10-31 | 48.43% |
| 2010-07-31 | 49.19% |
| 2010-05-02 | 41.12% |
| 2010-01-31 | 39.60% |
| 2009-11-01 | 45.26% |
| 2009-07-31 | 42.63% |
| 2009-05-03 | 50.74% |
| 2009-02-01 | 77.52% |
| 2008-11-02 | 86.46% |
| 2008-07-31 | 70.30% |
| 2008-04-27 | 100.00% |
| 2008-01-27 | 65.36% |
| 2007-10-28 | 61.22% |
| 2007-07-31 | 90.59% |
| 2007-04-29 | 58.24% |
| 2007-01-28 | 53.75% |
| 2006-10-29 | 41.81% |
| 2006-07-31 | 31.84% |
| 2006-04-30 | 32.62% |
| 2006-01-29 | 34.38% |
| 2005-10-30 | 39.11% |
| 2005-07-31 | 41.79% |
| 2005-05-01 | 42.99% |
| 2005-01-30 | 44.46% |
| 2004-10-31 | 46.09% |
| 2004-07-31 | 56.80% |
| 2004-05-02 | 54.41% |
| 2004-02-01 | 55.58% |
| 2003-11-02 | 55.34% |
| 2003-07-31 | 43.90% |
| 2023 |
| $773.00M |
| $447.00M |
| 57.8% |
| 2022 | $939.00M | $451.00M | 48.0% |
| 2021 | $760.00M | $439.00M | 57.8% |
| 2020 | $1.10B | $426.00M | 38.8% |
| 2019 | $1.01B | $423.00M | 41.7% |
| 2018 | $898.00M | $426.00M | 47.4% |
| 2017 | $950.00M | $420.00M | 44.2% |
| 2016 | $1.15B | $390.00M | 33.9% |
| 2015 | $826.00M | $394.00M | 47.7% |
| 2014 | $552.00M | $391.00M | 70.8% |
| 2013 | $683.00M | $367.00M | 53.7% |
| 2012 | $797.00M | $373.00M | 46.8% |
| 2011 | $870.00M | $378.00M | 43.4% |
| 2010 | $742.00M | $365.00M | 49.2% |
| 2009 | $821.00M | $350.00M | 42.6% |
| 2008 | $468.00M | $329.00M | 70.3% |
| 2007 | $340.00M | $308.00M | 90.6% |
| 2006 | $917.00M | $292.00M | 31.8% |
| 2005 | $658.00M | $275.00M | 41.8% |
| 2004 | $456.00M | $259.00M | 56.8% |
| 2003 | $590.00M | $259.00M | 43.9% |
| 2002 | $748.00M | $286.00M | 38.2% |
| 2001 | $906.00M | $374.00M | 41.3% |
| 2000 | $965.00M | $384.00M | 39.8% |
| 1999 | $657.00M | $386.00M | 58.8% |
| 1998 | $1.16B | $367.00M | 31.7% |
| 1997 | $862.00M | $350.00M | 40.6% |
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.
