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 11.35% is 11% above its 1-year average of 10.20%, near the high end of its 1-year range (9.29%–11.35%).
As of the fiscal period ended Tuesday, June 30, 2026. 9.55% above its 12-month average of 10.36%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
11.35%
FCF PAYOUT RATIO AVG TTM
10.36%
FCF PAYOUT RATIO AVG 3Y
N/A
FCF PAYOUT RATIO AVG 5Y
N/A
FCF PAYOUT RATIO AVG 10Y
N/A
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+9.55%
CURRENT VS 3Y AVG
N/A
CURRENT VS 5Y AVG
N/A
CURRENT VS 10Y AVG
N/A
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
11.3%
Earnings Payout Ratio
88.7%
Dividend Yield
2.20%
FCF Yield
3.97%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $1.68B | $183.24M | 10.9% |
| 2024 | $1.10B | $134.61M | 12.2% |
| 2023 | $1.30B | $150.11M | 11.6% |
| 2022 | $970.44M | $141.23M | 14.6% |
| 2021 | $780.91M | $35.29M | 4.5% |
| 2020 | $1.19B | $149.03M | 12.5% |
| 2019 | $1.10B | $267.09M | 24.4% |
| 2018 | $758.79M | $274.68M | 36.2% |
| 2017 | $1.37B | $261.70M | 19.0% |
| 2016 | $1.05B | $237.69M | 22.7% |
| 2015 | $1.04B | $290.05M | 28.0% |
| 2014 | $1.59B | $332.73M | 20.9% |
| 2013 | $1.65B | $723.35M | 43.8% |
| 2012 | $1.40B | $1.09B | 77.9% |
| 2011 | $798.29M | $475.60M | 59.6% |
| 2010 | $3.18B | $421.83M | 13.2% |
| 2009 | $3.34B | $407.04M | 12.2% |
| 2008 | $3.17B | $248.11M | 7.8% |
| 2007 | $3.57B | $217.43M | 6.1% |
| 2006 | $2.33B | $175.59M | 7.5% |
| 2004 | $145.86M | $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.
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 | 11.35% |
| 2025-12-31 | 10.44% |
| 2025-06-30 | 9.29% |
| 2024-12-31 | 9.73% |
