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 18.19% is 46% below its 5-year average of 33.94%, near the low end of its 5-year range (15.28%–152.94%).
As of the fiscal period ended Tuesday, June 30, 2026. 10.08% above its 12-month average of 16.53%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
18.19%
FCF PAYOUT RATIO AVG TTM
16.53%
FCF PAYOUT RATIO AVG 3Y
20.10%
FCF PAYOUT RATIO AVG 5Y
33.94%
FCF PAYOUT RATIO AVG 10Y
31.57%
FCF PAYOUT RATIO AVG 15Y
21.94%
FCF PAYOUT RATIO AVG 20Y
20.74%
CURRENT VS TTM AVG
+10.08%
CURRENT VS 3Y AVG
-9.51%
CURRENT VS 5Y AVG
-46.41%
CURRENT VS 10Y AVG
-42.37%
CURRENT VS 15Y AVG
-17.08%
CURRENT VS 20Y AVG
-12.31%
FCF Payout Ratio TTM
18.2%
Earnings Payout Ratio
13.5%
Dividend Yield
0.64%
FCF Yield
3.46%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $439.20M | $71.10M | 16.2% |
| 2024 | $360.30M | $62.80M | 17.4% |
| 2023 | $267.70M | $60.40M | 22.6% |
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 |
|---|---|
| 2026-06-30 | 18.19% |
| 2026-03-31 | 15.81% |
| 2025-12-31 | 16.19% |
| 2025-09-30 | 17.16% |
| 2025-06-30 | 15.28% |
| 2025-03-31 | 16.80% |
| 2024-12-31 | 17.43% |
| 2024-09-30 | 23.47% |
| 2024-06-30 | 29.35% |
| 2024-03-31 | 25.74% |
| 2023-12-31 | 22.56% |
| 2023-09-30 | 23.25% |
| 2023-06-30 | 64.27% |
| 2023-03-31 | 57.67% |
| 2022-12-31 | 81.35% |
| 2022-09-30 | 152.94% |
| 2022-06-30 | 55.38% |
| 2022-03-31 | 53.50% |
| 2021-12-31 | 68.17% |
| 2021-09-30 | 29.81% |
| 2021-06-30 | 27.50% |
| 2021-03-31 | 27.29% |
| 2020-12-31 | 37.74% |
| 2020-09-30 | 45.84% |
| 2020-06-30 | 65.42% |
| 2020-03-31 | 122.37% |
| 2019-12-31 | 47.02% |
| 2019-09-30 | 44.28% |
| 2019-06-30 | 28.77% |
| 2019-03-31 | 24.51% |
| 2018-12-31 | 20.49% |
| 2018-09-30 | 20.78% |
| 2018-06-30 | 21.43% |
| 2018-03-31 | 21.89% |
| 2017-12-31 | 22.20% |
| 2017-09-30 | 23.26% |
| 2017-06-30 | 21.37% |
| 2017-03-31 | 20.26% |
| 2016-12-31 | 20.81% |
| 2016-09-30 | 19.64% |
| 2016-06-30 | 19.23% |
| 2016-03-31 | 20.96% |
| 2015-12-31 | 23.52% |
| 2015-09-30 | 26.21% |
| 2015-06-30 | 29.19% |
| 2015-03-31 | 25.93% |
| 2014-12-31 | 28.05% |
| 2014-09-30 | 24.95% |
| 2014-06-30 | 25.53% |
| 2014-03-31 | 23.54% |
| 2013-12-31 | 15.25% |
| 2013-09-30 | 8.65% |
| 2013-06-30 | 7.74% |
| 2013-03-31 | 8.16% |
| 2012-12-31 | 9.77% |
| 2012-09-30 | 9.82% |
| 2012-06-30 | 12.27% |
| 2012-03-31 | 12.72% |
| 2011-12-31 | 11.13% |
| 2011-09-30 | 31.84% |
| 2011-06-30 | 25.30% |
| 2011-03-31 | 22.96% |
| 2010-12-31 | 23.22% |
| 2010-09-30 | 14.61% |
| 2010-06-30 | 13.73% |
| 2010-03-31 | 19.30% |
| 2010-01-20 | 16.34% |
| 2009-09-30 | 12.11% |
| 2009-06-30 | 17.25% |
| 2009-03-31 | 17.74% |
| 2008-12-31 | 34.18% |
| 2008-09-30 | 12.96% |
| 2008-06-30 | 15.17% |
| 2008-03-31 | 18.04% |
| 2007-12-31 | 16.99% |
| 2022 |
| $121.70M |
| $99.00M |
| 81.3% |
| 2021 | $164.60M | $112.20M | 68.2% |
| 2020 | $296.50M | $111.90M | 37.7% |
| 2019 | $231.20M | $108.70M | 47.0% |
| 2018 | $491.90M | $100.80M | 20.5% |
| 2017 | $412.20M | $91.50M | 22.2% |
| 2016 | $402.60M | $83.80M | 20.8% |
| 2015 | $328.30M | $80.30M | 24.5% |
| 2014 | $257.00M | $72.10M | 28.1% |
| 2013 | $253.80M | $38.70M | 15.2% |
| 2012 | $251.80M | $24.60M | 9.8% |
| 2011 | $233.60M | $26.00M | 11.1% |
| 2010 | $333.50M | $58.70M | 17.6% |
| 2010 | $260.10M | $26.00M | 10.0% |
| 2008 | $153.00M | $26.00M | 17.0% |
| 2007 | $191.30M | $26.00M | 13.6% |
| 2006 | ($219.60M) | $15.70M | N/A (Loss) |
| 2005 | ($92.48M) | $0 | N/A (Loss) |
| 2004 | $235.42M | $0 | 0.0% |
| 2003 | $456.47M | $0 | 0.0% |
| 2002 | $0.00M | $0 | N/A (Loss) |
| 2001 | $189.89M | $0 | 0.0% |
| 2000 | $129.83M | $0 | 0.0% |
| 1999 | $197.26M | $0 | 0.0% |
| 1998 | ($126.50M) | $0 | N/A (Loss) |
| 1997 | $7.82M | $0 | 0.0% |
| 1996 | $20.25M | $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.
