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 61.92% is in line with its 5-year average of 58.10%, near the high end of its 5-year range (21.89%–78.84%).
As of the fiscal period ended Sunday, May 31, 2026. 13.89% above its 12-month average of 54.37%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
61.92%
FCF PAYOUT RATIO AVG TTM
54.37%
FCF PAYOUT RATIO AVG 3Y
63.09%
FCF PAYOUT RATIO AVG 5Y
59.91%
FCF PAYOUT RATIO AVG 10Y
55.18%
FCF PAYOUT RATIO AVG 15Y
58.84%
FCF PAYOUT RATIO AVG 20Y
48.10%
CURRENT VS TTM AVG
+13.89%
CURRENT VS 3Y AVG
-1.84%
CURRENT VS 5Y AVG
+3.35%
CURRENT VS 10Y AVG
+12.23%
CURRENT VS 15Y AVG
+5.24%
CURRENT VS 20Y AVG
+28.74%
FCF Payout Ratio TTM
61.9%
Earnings Payout Ratio
58.5%
Dividend Yield
3.01%
FCF Yield
4.77%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $1.12B | $693.00M | 61.9% |
| 2025 | $1.04B | $658.50M | 63.6% |
| 2024 | $983.60M | $628.40M | 63.9% |
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 |
|---|---|
| 2026-05-31 | 61.92% |
| 2026-02-22 | 43.78% |
| 2025-11-23 | 49.81% |
| 2025-08-24 | 61.98% |
| 2025-05-25 | 63.56% |
| 2025-02-23 | 63.26% |
| 2024-11-24 | 62.11% |
| 2024-08-25 | 63.93% |
| 2024-05-26 | 63.72% |
| 2024-02-25 | 65.01% |
| 2023-11-26 | 68.46% |
| 2023-08-27 | 78.84% |
| 2023-05-31 | 62.29% |
| 2023-02-26 | 62.04% |
| 2022-11-27 | 63.66% |
| 2022-08-28 | 53.50% |
| 2022-05-31 | 65.73% |
| 2022-02-27 | 54.71% |
| 2021-11-28 | 49.59% |
| 2021-08-29 | 40.39% |
| 2021-05-31 | 21.89% |
| 2021-02-28 | 33.54% |
| 2020-11-29 | 39.61% |
| 2020-08-30 | 82.83% |
| 2020-05-31 | 148.32% |
| 2020-02-23 | 54.94% |
| 2019-11-24 | 52.46% |
| 2019-08-25 | 47.73% |
| 2019-05-31 | 47.32% |
| 2019-02-24 | 50.72% |
| 2018-11-25 | 51.15% |
| 2018-08-26 | 53.80% |
| 2018-05-31 | 53.38% |
| 2018-02-25 | 54.87% |
| 2017-11-26 | 53.68% |
| 2017-08-27 | 51.34% |
| 2017-05-31 | 47.76% |
| 2017-02-26 | 44.10% |
| 2016-11-27 | 41.14% |
| 2016-08-28 | 44.47% |
| 2016-05-31 | 48.79% |
| 2016-02-28 | 9.64% |
| 2015-11-29 | 9.97% |
| 2015-08-30 | 10.44% |
| 2015-05-31 | 10.90% |
| 2014-02-23 | 96.49% |
| 2013-11-24 | 87.92% |
| 2013-08-25 | 131.31% |
| 2013-05-31 | 97.91% |
| 2013-02-24 | 109.71% |
| 2012-11-25 | 81.61% |
| 2012-08-26 | 92.26% |
| 2012-05-31 | 183.52% |
| 2012-02-26 | 141.78% |
| 2011-11-27 | 238.48% |
| 2011-08-28 | 85.05% |
| 2011-05-31 | 50.55% |
| 2011-02-27 | 55.71% |
| 2010-11-28 | 42.51% |
| 2010-08-29 | 30.97% |
| 2010-05-31 | 30.20% |
| 2010-02-28 | 23.82% |
| 2009-11-29 | 28.83% |
| 2009-08-30 | 38.61% |
| 2009-05-31 | 44.60% |
| 2009-02-22 | 53.29% |
| 2008-11-23 | 56.60% |
| 2008-08-24 | 39.91% |
| 2008-05-31 | 33.08% |
| 2008-02-24 | 33.01% |
| 2007-11-25 | 25.88% |
| 2007-08-26 | 18.28% |
| 2007-05-31 | 12.33% |
| 2007-02-25 | 11.41% |
| 2006-11-26 | 10.99% |
| 2006-08-27 | 10.76% |
| 2006-05-31 | 7.75% |
| 2006-02-26 | 1.82% |
| 2005-11-27 | 2.45% |
| 2005-08-28 | 1.91% |
| 2005-05-31 | 2.46% |
| 2005-02-27 | 2.31% |
| 2004-11-28 | 2.03% |
| 2004-08-29 | 4.04% |
| 2004-05-31 | 3.75% |
| 2004-02-22 | 6.69% |
| 2003-11-23 | 7.29% |
| 2003-08-24 | 5.83% |
| 2003-05-31 | 7.80% |
| 2023 |
| $951.80M |
| $589.80M |
| 62.0% |
| 2022 | $857.00M | $563.00M | 65.7% |
| 2021 | $924.90M | $202.60M | 21.9% |
| 2020 | $217.30M | $322.30M | 148.3% |
| 2019 | $783.60M | $370.80M | 47.3% |
| 2018 | $587.30M | $313.50M | 53.4% |
| 2017 | $584.40M | $279.10M | 47.8% |
| 2016 | $549.70M | $268.20M | 48.8% |
| 2015 | $2.56B | $278.90M | 10.9% |
| 2014 | $24.10M | $288.30M | n/m |
| 2013 | $263.70M | $258.20M | 97.9% |
| 2012 | ($126.30M) | $223.90M | N/A (Loss) |
| 2011 | $332.90M | $175.50M | 52.7% |
| 2010 | $469.90M | $140.00M | 29.8% |
| 2009 | $247.10M | $110.20M | 44.6% |
| 2008 | $305.00M | $100.90M | 33.1% |
| 2007 | $261.20M | $65.70M | 25.2% |
| 2006 | $378.94M | $59.21M | 15.6% |
| 2005 | $254.00M | $12.51M | 4.9% |
| 2004 | $171.09M | $12.98M | 7.6% |
| 2003 | $86.02M | $13.50M | 15.7% |
| 2002 | $189.75M | $9.22M | 4.9% |
| 2001 | $65.43M | $9.46M | 14.5% |
| 2000 | $68.17M | $10.13M | 14.9% |
| 1999 | $224.50M | $10.90M | 4.9% |
| 1998 | $123.90M | $11.70M | 9.4% |
| 1997 | $29.50M | $12.40M | 42.0% |
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.
