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 4.95% is in line with its 5-year average of 5.40%, near the low end of its 5-year range (3.15%–10.61%).
As of the fiscal period ended Tuesday, June 30, 2026. 16.53% above its 12-month average of 4.25%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
4.95%
FCF PAYOUT RATIO AVG TTM
4.25%
FCF PAYOUT RATIO AVG 3Y
3.93%
FCF PAYOUT RATIO AVG 5Y
4.59%
FCF PAYOUT RATIO AVG 10Y
5.95%
FCF PAYOUT RATIO AVG 15Y
6.71%
FCF PAYOUT RATIO AVG 20Y
6.25%
CURRENT VS TTM AVG
+16.53%
CURRENT VS 3Y AVG
+25.80%
CURRENT VS 5Y AVG
+7.86%
CURRENT VS 10Y AVG
-16.80%
CURRENT VS 15Y AVG
-26.20%
CURRENT VS 20Y AVG
-20.85%
FCF Payout Ratio TTM
4.9%
Earnings Payout Ratio
4.6%
Dividend Yield
0.16%
FCF Yield
3.56%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $1.19B | $45.02M | 3.8% |
| 2024 | $1.33B | $43.38M | 3.3% |
| 2023 | $821.25M | $32.68M | 4.0% |
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 | 4.95% |
| 2026-03-31 | 4.76% |
| 2025-12-31 | 3.79% |
| 2025-09-30 | 3.95% |
| 2025-06-30 | 3.79% |
| 2025-03-31 | 3.56% |
| 2024-12-31 | 3.25% |
| 2024-09-30 | 3.15% |
| 2024-06-30 | 3.66% |
| 2024-03-31 | 3.27% |
| 2023-12-31 | 3.98% |
| 2023-09-30 | 4.69% |
| 2023-06-30 | 4.35% |
| 2023-03-31 | 6.11% |
| 2022-12-31 | 6.06% |
| 2022-09-30 | 6.84% |
| 2022-06-30 | 10.61% |
| 2022-03-31 | 10.26% |
| 2021-12-31 | 9.96% |
| 2021-09-30 | 7.68% |
| 2021-06-30 | 4.76% |
| 2021-03-31 | 2.70% |
| 2020-12-31 | 2.33% |
| 2020-09-30 | 2.62% |
| 2020-06-30 | 2.87% |
| 2020-03-31 | 6.26% |
| 2019-12-31 | 5.84% |
| 2019-09-30 | 5.45% |
| 2019-06-30 | 8.62% |
| 2019-03-31 | 8.27% |
| 2018-12-31 | 8.19% |
| 2018-09-30 | 11.98% |
| 2018-06-30 | 9.52% |
| 2018-03-31 | 6.71% |
| 2017-12-31 | 5.72% |
| 2017-09-30 | 5.67% |
| 2017-06-30 | 6.84% |
| 2017-03-31 | 7.59% |
| 2016-12-31 | 8.65% |
| 2016-09-30 | 7.60% |
| 2016-06-30 | 7.01% |
| 2016-03-31 | 9.50% |
| 2015-12-31 | 8.69% |
| 2015-09-30 | 10.14% |
| 2015-06-30 | 12.59% |
| 2015-03-31 | 9.70% |
| 2014-12-31 | 10.21% |
| 2014-09-30 | 13.25% |
| 2014-06-30 | 9.18% |
| 2014-03-31 | 9.46% |
| 2013-12-31 | 10.54% |
| 2013-09-30 | 17.16% |
| 2013-06-30 | 27.10% |
| 2013-03-31 | 34.14% |
| 2012-12-31 | 22.16% |
| 2012-09-30 | 10.70% |
| 2012-06-30 | 7.03% |
| 2012-03-31 | 3.86% |
| 2011-12-31 | 1.08% |
| 2011-09-30 | 0.98% |
| 2011-06-30 | 0.99% |
| 2011-03-31 | 0.33% |
| 2010-12-31 | 1.22% |
| 2010-09-30 | 1.69% |
| 2010-06-30 | 0.49% |
| 2010-03-31 | 0.12% |
| 2006-12-31 | 6.33% |
| 2006-09-30 | 6.75% |
| 2006-06-30 | 6.81% |
| 2006-03-31 | 10.79% |
| 2022 |
| $448.64M |
| $27.19M |
| 6.1% |
| 2021 | $282.63M | $28.16M | 10.0% |
| 2020 | $758.40M | $17.67M | 2.3% |
| 2019 | $307.27M | $17.95M | 5.8% |
| 2018 | $227.53M | $18.64M | 8.2% |
| 2017 | $331.45M | $18.97M | 5.7% |
| 2016 | $224.91M | $19.45M | 8.6% |
| 2015 | $231.21M | $20.09M | 8.7% |
| 2014 | $208.62M | $21.29M | 10.2% |
| 2013 | $114.57M | $12.08M | 10.5% |
| 2012 | $146.53M | $34.07M | 23.3% |
| 2011 | $119.84M | $3.34M | 2.8% |
| 2010 | $49.29M | $2.50M | 5.1% |
| 2009 | $335.01M | $1.35M | 0.4% |
| 2008 | $297.51M | $0 | 0.0% |
| 2007 | $237.52M | $0 | 0.0% |
| 2006 | $189.61M | $0 | 0.0% |
| 2005 | $130.86M | $0 | 0.0% |
| 2004 | $38.35M | $0 | 0.0% |
| 2003 | ($16.63M) | $0 | N/A (Loss) |
| 2002 | $139.11M | $0 | 0.0% |
| 2001 | $63.15M | $0 | 0.0% |
| 2000 | $74.74M | $0 | 0.0% |
| 1999 | ($30.90M) | $0 | N/A (Loss) |
| 1998 | ($4.20M) | $0 | N/A (Loss) |
| 1997 | $15.80M | $0 | 0.0% |
| 1996 | $25.70M | $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.
