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 11.46% is 45% below its 5-year average of 20.71%, near the low end of its 5-year range (11.46%–31.02%).
As of the fiscal period ended Friday, April 3, 2026. 18.71% below its 12-month average of 14.10%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
11.46%
FCF PAYOUT RATIO AVG TTM
14.10%
FCF PAYOUT RATIO AVG 3Y
15.59%
FCF PAYOUT RATIO AVG 5Y
20.71%
FCF PAYOUT RATIO AVG 10Y
23.22%
FCF PAYOUT RATIO AVG 15Y
25.42%
FCF PAYOUT RATIO AVG 20Y
21.84%
CURRENT VS TTM AVG
-18.71%
CURRENT VS 3Y AVG
-26.49%
CURRENT VS 5Y AVG
-44.68%
CURRENT VS 10Y AVG
-50.65%
CURRENT VS 15Y AVG
-54.93%
CURRENT VS 20Y AVG
-47.54%
FCF Payout Ratio TTM
11.5%
Earnings Payout Ratio
15.1%
Dividend Yield
1.50%
FCF Yield
12.92%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $1.63B | $211.00M | 13.0% |
| 2025 | $1.24B | $208.00M | 16.7% |
| 2023 | $958.00M | $201.00M | 21.0% |
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 |
|---|---|
| 2026-04-03 | 11.46% |
| 2026-01-02 | 12.98% |
| 2025-10-03 | 15.08% |
| 2025-07-04 | 14.91% |
| 2025-04-04 | 16.05% |
| 2025-01-03 | 15.93% |
| 2024-09-27 | 15.62% |
| 2024-06-28 | 14.99% |
| 2024-03-29 | 17.88% |
| 2023-12-31 | 20.98% |
| 2023-09-29 | 25.51% |
| 2023-06-30 | 26.18% |
| 2023-03-31 | 30.23% |
| 2022-12-31 | 23.22% |
| 2022-09-30 | 20.26% |
| 2022-07-01 | 25.06% |
| 2022-04-01 | 25.67% |
| 2021-12-31 | 21.47% |
| 2021-10-01 | 31.02% |
| 2021-07-02 | 29.73% |
| 2021-04-02 | 18.82% |
| 2020-12-31 | 17.03% |
| 2020-10-02 | 17.74% |
| 2020-07-03 | 17.09% |
| 2020-04-03 | 20.72% |
| 2019-12-31 | 22.73% |
| 2019-09-27 | 17.62% |
| 2019-06-28 | 22.84% |
| 2019-03-29 | 21.14% |
| 2018-12-31 | 28.49% |
| 2018-09-28 | 27.04% |
| 2018-06-29 | 31.14% |
| 2018-03-30 | 36.90% |
| 2017-12-31 | 45.00% |
| 2017-09-29 | 42.31% |
| 2017-06-30 | 275.69% |
| 2017-03-31 | 341.76% |
| 2016-12-31 | 274.82% |
| 2016-09-30 | 404.64% |
| 2016-07-01 | 34.95% |
| 2016-04-01 | 28.57% |
| 2015-12-31 | 30.55% |
| 2015-10-02 | 20.35% |
| 2015-07-03 | 25.33% |
| 2015-04-03 | 27.94% |
| 2015-01-30 | 25.89% |
| 2014-10-31 | 26.72% |
| 2014-08-01 | 68.71% |
| 2014-05-02 | 191.67% |
| 2014-01-31 | 372.66% |
| 2013-11-01 | 206.28% |
| 2013-08-02 | 88.77% |
| 2013-05-03 | 30.50% |
| 2013-01-31 | 54.64% |
| 2012-10-31 | 55.61% |
| 2012-07-31 | 28.52% |
| 2012-04-30 | 29.93% |
| 2009-10-31 | 0.17% |
| 2009-07-31 | 0.20% |
| 2009-04-30 | 0.16% |
| 2009-01-31 | 0.21% |
| 2008-10-31 | 0.44% |
| 2008-07-31 | 0.50% |
| 2008-04-30 | 0.47% |
| 2008-01-31 | 0.71% |
| 2007-10-31 | 745.87% |
| 2007-07-31 | 506.02% |
| 2007-04-30 | 571.19% |
| 2007-01-31 | 384.70% |
| 2022 |
| $857.00M |
| $199.00M |
| 23.2% |
| 2021 | $1.15B | $196.00M | 17.0% |
| 2021 | $927.00M | $199.00M | 21.5% |
| 2019 | $871.00M | $198.00M | 22.7% |
| 2018 | $695.00M | $198.00M | 28.5% |
| 2017 | $445.00M | $198.00M | 44.5% |
| 2016 | $417.00M | $1.14B | 272.2% |
| 2015 | $367.00M | $95.00M | 25.9% |
| 2015 | $383.00M | $117.00M | 30.5% |
| 2014 | $142.00M | $477.00M | 335.9% |
| 2013 | $297.00M | $165.00M | 55.6% |
| 2012 | $645.00M | $0 | 0.0% |
| 2011 | $640.00M | $0 | 0.0% |
| 2010 | $565.00M | $0 | 0.0% |
| 2009 | $483.00M | $1.00M | 0.2% |
| 2008 | $281.00M | $2.00M | 0.7% |
| 2007 | $634.00M | $2.44B | 384.7% |
| 2006 | $541.00M | $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.
