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 19.50% is 47% below its 5-year average of 36.53%, near the low end of its 5-year range (18.90%–196.52%).
As of the fiscal period ended Saturday, May 2, 2026. 26.47% below its 12-month average of 26.52%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
19.50%
FCF PAYOUT RATIO AVG TTM
26.52%
FCF PAYOUT RATIO AVG 3Y
23.11%
FCF PAYOUT RATIO AVG 5Y
22.92%
FCF PAYOUT RATIO AVG 10Y
39.49%
FCF PAYOUT RATIO AVG 15Y
30.23%
FCF PAYOUT RATIO AVG 20Y
27.31%
CURRENT VS TTM AVG
-26.47%
CURRENT VS 3Y AVG
-15.62%
CURRENT VS 5Y AVG
-14.93%
CURRENT VS 10Y AVG
-50.62%
CURRENT VS 15Y AVG
-35.49%
CURRENT VS 20Y AVG
-28.61%
FCF Payout Ratio TTM
19.5%
Earnings Payout Ratio
30.7%
Dividend Yield
3.52%
FCF Yield
17.76%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $823.00M | $247.00M | 30.0% |
| 2025 | $1.04B | $225.00M | 21.7% |
| 2024 | $1.11B | $222.00M | 20.0% |
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 |
|---|---|
| 2026-05-02 | 19.50% |
| 2026-01-31 | 25.31% |
| 2025-11-01 | 30.94% |
| 2025-08-02 | 30.69% |
| 2025-05-03 | 26.17% |
| 2025-01-31 | 21.66% |
| 2024-10-31 | 20.31% |
| 2024-07-31 | 18.90% |
| 2024-05-04 | 19.37% |
| 2024-01-31 | 19.96% |
| 2023-10-28 | 19.05% |
| 2023-07-29 | 25.46% |
| 2023-04-30 | 53.41% |
| 2022-01-31 | 196.52% |
| 2021-07-31 | 20.66% |
| 2021-05-01 | 8.10% |
| 2020-10-31 | 11.04% |
| 2020-08-01 | 116.77% |
| 2020-01-31 | 99.45% |
| 2019-11-02 | 130.25% |
| 2019-08-03 | 98.92% |
| 2019-05-04 | 92.52% |
| 2019-01-31 | 55.18% |
| 2018-11-03 | 65.03% |
| 2018-08-04 | 55.78% |
| 2018-05-05 | 78.23% |
| 2018-01-31 | 55.62% |
| 2017-10-28 | 39.78% |
| 2017-07-29 | 38.85% |
| 2017-04-29 | 32.08% |
| 2017-01-31 | 30.71% |
| 2016-10-29 | 34.75% |
| 2016-07-30 | 37.13% |
| 2016-04-30 | 44.38% |
| 2016-01-31 | 43.43% |
| 2015-10-31 | 36.42% |
| 2015-08-01 | 35.02% |
| 2015-05-02 | 33.96% |
| 2015-01-31 | 27.07% |
| 2014-11-01 | 32.26% |
| 2014-08-02 | 32.30% |
| 2014-05-03 | 29.55% |
| 2014-01-31 | 31.01% |
| 2013-11-02 | 29.99% |
| 2013-08-03 | 22.60% |
| 2013-05-04 | 19.67% |
| 2013-01-31 | 18.79% |
| 2012-10-27 | 17.31% |
| 2012-07-28 | 19.41% |
| 2012-04-28 | 24.92% |
| 2012-01-31 | 28.96% |
| 2011-10-29 | 27.20% |
| 2011-07-30 | 20.79% |
| 2011-04-30 | 23.48% |
| 2011-01-31 | 21.23% |
| 2010-10-30 | 20.91% |
| 2010-07-31 | 18.97% |
| 2010-05-01 | 14.43% |
| 2010-01-31 | 14.68% |
| 2009-10-31 | 17.09% |
| 2009-08-01 | 19.57% |
| 2009-05-02 | 22.68% |
| 2009-01-31 | 24.77% |
| 2008-11-01 | 16.95% |
| 2008-08-02 | 17.43% |
| 2008-05-03 | 19.12% |
| 2008-01-31 | 18.01% |
| 2007-11-03 | 27.00% |
| 2007-08-04 | 35.86% |
| 2007-05-05 | 42.81% |
| 2007-01-31 | 39.09% |
| 2006-10-28 | 18.60% |
| 2006-07-29 | 17.24% |
| 2006-04-29 | 17.40% |
| 2006-01-31 | 18.82% |
| 2005-10-29 | 18.00% |
| 2005-07-30 | 12.84% |
| 2005-04-30 | 10.44% |
| 2005-01-31 | 6.72% |
| 2004-10-30 | 5.10% |
| 2004-07-31 | 4.48% |
| 2004-05-01 | 3.74% |
| 2004-01-31 | 4.15% |
| 2003-11-01 | 5.74% |
| 2003-08-02 | 6.95% |
| 2003-05-03 | 9.03% |
| 2023 |
| ($78.00M) |
| $220.00M |
| N/A (Loss) |
| 2022 | $115.00M | $226.00M | 196.5% |
| 2021 | ($155.00M) | $0 | N/A (Loss) |
| 2020 | $366.00M | $364.00M | 99.5% |
| 2019 | $676.00M | $373.00M | 55.2% |
| 2018 | $649.00M | $361.00M | 55.6% |
| 2017 | $1.20B | $367.00M | 30.7% |
| 2016 | $868.00M | $377.00M | 43.4% |
| 2015 | $1.42B | $383.00M | 27.1% |
| 2014 | $1.03B | $321.00M | 31.0% |
| 2013 | $1.28B | $240.00M | 18.8% |
| 2012 | $815.00M | $236.00M | 29.0% |
| 2011 | $1.19B | $252.00M | 21.2% |
| 2010 | $1.59B | $234.00M | 14.7% |
| 2009 | $1.59B | $243.00M | 15.2% |
| 2008 | $1.40B | $252.00M | 18.0% |
| 2007 | $678.00M | $265.00M | 39.1% |
| 2006 | $951.00M | $179.00M | 18.8% |
| 2005 | $1.18B | $79.00M | 6.7% |
| 2004 | $1.90B | $79.00M | 4.2% |
| 2003 | $935.07M | $78.00M | 8.3% |
| 2002 | $377.76M | $76.37M | 20.2% |
| 2001 | ($567.46M) | $75.49M | N/A (Loss) |
| 2000 | $239.20M | $75.80M | 31.7% |
| 1999 | $596.60M | $76.90M | 12.9% |
| 1998 | $359.10M | $79.50M | 22.1% |
| 1997 | $463.20M | $83.90M | 18.1% |
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.
