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 43.13% is 33% below its 5-year average of 64.64%, near the low end of its 5-year range (42.33%–101.85%).
As of the fiscal period ended Sunday, May 31, 2026. 28.74% below its 12-month average of 60.52%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
43.13%
FCF PAYOUT RATIO AVG TTM
60.52%
FCF PAYOUT RATIO AVG 3Y
58.09%
FCF PAYOUT RATIO AVG 5Y
62.78%
FCF PAYOUT RATIO AVG 10Y
52.41%
FCF PAYOUT RATIO AVG 15Y
49.76%
FCF PAYOUT RATIO AVG 20Y
49.73%
CURRENT VS TTM AVG
-28.74%
CURRENT VS 3Y AVG
-25.76%
CURRENT VS 5Y AVG
-31.31%
CURRENT VS 10Y AVG
-17.72%
CURRENT VS 15Y AVG
-13.33%
CURRENT VS 20Y AVG
-13.29%
FCF Payout Ratio TTM
43.1%
Earnings Payout Ratio
64.3%
Dividend Yield
3.71%
FCF Yield
8.45%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $740.40M | $483.00M | 65.2% |
| 2024 | $647.00M | $451.00M | 69.7% |
| 2023 | $973.40M | $418.50M | 43.0% |
| 2022 | $389.50M | $396.70M | 101.8% |
| 2021 | $550.30M | $363.30M | 66.0% |
| 2020 | $816.00M | $330.10M | 40.5% |
| 2019 | $773.10M | $302.20M | 39.1% |
| 2018 | $652.10M | $273.40M | 41.9% |
| 2017 | $632.90M | $237.60M | 37.5% |
| 2016 | $504.30M | $217.80M | 43.2% |
| 2015 | $461.60M | $204.90M | 44.4% |
| 2014 | $370.90M | $192.40M | 51.9% |
| 2013 | $365.30M | $179.90M | 49.2% |
| 2012 | $344.70M | $164.70M | 47.8% |
| 2011 | $243.30M | $148.50M | 61.0% |
| 2010 | $298.50M | $138.20M | 46.3% |
| 2009 | $333.40M | $125.40M | 37.6% |
| 2008 | $228.80M | $113.50M | 49.6% |
| 2007 | $146.00M | $103.60M | 71.0% |
| 2006 | $226.00M | $95.00M | 42.0% |
| 2005 | $265.40M | $86.20M | 32.5% |
| 2004 | $279.70M | $76.90M | 27.5% |
| 2003 | $99.20M | $64.10M | 64.6% |
| 2002 | $113.00M | $58.60M | 51.9% |
| 2001 | $92.40M | $55.10M | 59.6% |
| 2000 | $148.40M | $52.30M | 35.2% |
| 1999 | $180.00M | $48.70M | 27.1% |
| 1998 | $80.30M | $46.90M | 58.4% |
| 1997 | $137.30M | $45.50M | 33.1% |
| 1996 | $127.00M | $45.30M | 35.7% |
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 |
|---|---|
| 2026-05-31 | 43.13% |
| 2026-02-28 | 60.01% |
| 2025-11-30 | 54.98% |
| 2025-08-31 | 59.86% |
| 2025-05-31 | 84.63% |
| 2025-02-28 | 70.72% |
| 2024-11-30 | 69.71% |
| 2024-08-31 | 57.21% |
| 2024-05-31 | 50.03% |
| 2024-02-29 | 42.33% |
| 2023-11-30 | 42.99% |
| 2023-08-31 | 53.01% |
| 2023-05-31 | 66.59% |
| 2023-02-28 | 87.99% |
| 2022-11-30 | 101.85% |
| 2022-08-31 | 86.20% |
| 2022-05-31 | 77.98% |
| 2022-02-28 | 61.37% |
| 2021-11-30 | 66.02% |
| 2021-08-31 | 68.57% |
| 2021-05-31 | 52.27% |
| 2021-02-28 | 46.44% |
| 2020-11-30 | 40.45% |
| 2020-08-31 | 37.29% |
| 2020-05-31 | 40.48% |
| 2020-02-29 | 44.11% |
| 2019-11-30 | 39.09% |
| 2019-08-31 | 38.64% |
| 2019-05-31 | 39.03% |
| 2019-02-28 | 35.86% |
| 2018-11-30 | 41.93% |
| 2018-08-31 | 37.29% |
| 2018-05-31 | 36.83% |
| 2018-02-28 | 43.59% |
| 2017-11-30 | 37.54% |
| 2017-08-31 | 49.57% |
| 2017-05-31 | 49.39% |
| 2017-02-28 | 47.92% |
| 2016-11-30 | 43.19% |
| 2016-08-31 | 47.79% |
| 2016-05-31 | 44.45% |
| 2016-02-29 | 47.68% |
| 2015-11-30 | 44.39% |
| 2015-08-31 | 47.99% |
| 2015-05-31 | 52.24% |
| 2015-02-28 | 49.63% |
| 2014-11-30 | 51.87% |
| 2014-08-31 | 48.65% |
| 2014-05-31 | 46.40% |
| 2014-02-28 | 45.36% |
| 2013-11-30 | 49.25% |
| 2013-08-31 | 54.35% |
| 2013-05-31 | 51.68% |
| 2013-02-28 | 47.24% |
| 2012-11-30 | 47.78% |
| 2012-08-31 | 39.15% |
| 2012-05-31 | 44.79% |
| 2012-02-29 | 53.02% |
| 2011-11-30 | 61.04% |
| 2011-08-31 | 62.70% |
| 2011-05-31 | 53.43% |
| 2011-02-28 | 51.22% |
| 2010-11-30 | 46.30% |
| 2010-08-31 | 47.44% |
| 2010-05-31 | 43.06% |
| 2010-02-28 | 36.95% |
| 2009-11-30 | 37.61% |
| 2009-08-31 | 39.17% |
| 2009-05-31 | 50.59% |
| 2009-02-28 | 60.35% |
| 2008-11-30 | 49.61% |
| 2008-08-31 | 47.79% |
| 2008-05-31 | 44.74% |
| 2008-02-29 | 43.40% |
| 2007-11-30 | 70.96% |
| 2007-08-31 | 78.15% |
| 2007-05-31 | 73.16% |
| 2007-02-28 | 60.21% |
| 2006-11-30 | 42.04% |
| 2006-08-31 | 37.79% |
| 2006-05-31 | 32.76% |
| 2006-02-28 | 34.47% |
| 2005-11-30 | 32.48% |
| 2005-08-31 | 27.59% |
| 2005-05-31 | 29.46% |
| 2005-02-28 | 29.21% |
| 2004-11-30 | 27.49% |
| 2004-08-31 | 36.37% |
| 2004-05-31 | 42.25% |
| 2004-02-29 | 47.76% |
| 2003-11-30 | 64.62% |
| 2003-08-31 | 54.96% |
| 2003-05-31 | 48.06% |
