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 22.10% is 38% below its 5-year average of 35.41%, near the low end of its 5-year range (22.10%–49.77%).
As of the fiscal period ended Friday, April 24, 2026. 14.95% below its 12-month average of 25.98%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
22.10%
FCF PAYOUT RATIO AVG TTM
25.98%
FCF PAYOUT RATIO AVG 3Y
32.12%
FCF PAYOUT RATIO AVG 5Y
35.41%
FCF PAYOUT RATIO AVG 10Y
33.14%
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-14.95%
CURRENT VS 3Y AVG
-31.20%
CURRENT VS 5Y AVG
-37.60%
CURRENT VS 10Y AVG
-33.33%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
22.1%
Earnings Payout Ratio
24.3%
Dividend Yield
0.93%
FCF Yield
5.60%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $1.87B | $413.00M | 22.1% |
| 2025 | $1.34B | $424.00M | 31.7% |
| 2024 | $1.53B | $416.00M | 27.2% |
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 |
|---|---|
| 2026-04-24 | 22.10% |
| 2026-01-23 | 25.79% |
| 2025-10-24 | 24.94% |
| 2025-07-25 | 25.39% |
| 2025-04-30 | 31.69% |
| 2025-01-24 | 33.44% |
| 2024-10-25 | 30.55% |
| 2024-07-26 | 29.53% |
| 2024-04-30 | 27.19% |
| 2024-01-26 | 36.07% |
| 2023-10-27 | 41.07% |
| 2023-07-28 | 40.00% |
| 2023-04-30 | 49.77% |
| 2023-01-27 | 43.05% |
| 2022-10-28 | 49.16% |
| 2022-07-29 | 43.96% |
| 2022-04-30 | 45.28% |
| 2022-01-28 | 37.92% |
| 2021-10-29 | 33.49% |
| 2021-07-30 | 36.80% |
| 2021-04-30 | 36.46% |
| 2021-01-29 | 42.22% |
| 2020-10-30 | 40.44% |
| 2020-07-31 | 50.95% |
| 2020-04-30 | 46.90% |
| 2020-01-24 | 45.80% |
| 2019-10-25 | 43.37% |
| 2019-07-26 | 34.88% |
| 2019-04-30 | 34.50% |
| 2019-01-25 | 28.72% |
| 2018-10-26 | 25.70% |
| 2018-07-27 | 19.19% |
| 2018-04-30 | 16.05% |
| 2018-01-26 | 17.46% |
| 2017-10-27 | 20.77% |
| 2017-07-28 | 25.09% |
| 2017-04-30 | 25.65% |
| 2017-01-27 | 26.20% |
| 2016-10-28 | 22.66% |
| 2016-07-29 | 22.84% |
| 2016-04-30 | 25.80% |
| 2016-01-29 | 24.26% |
| 2015-10-30 | 26.26% |
| 2015-07-31 | 20.26% |
| 2015-04-30 | 18.98% |
| 2015-01-23 | 19.69% |
| 2014-10-24 | 19.08% |
| 2014-07-25 | 19.19% |
| 2014-04-30 | 17.93% |
| 2014-01-24 | 12.69% |
| 2013-10-25 | 8.65% |
| 2013-07-26 | 4.52% |
| 2023 |
| $868.00M |
| $432.00M |
| 49.8% |
| 2022 | $985.00M | $446.00M | 45.3% |
| 2021 | $1.17B | $427.00M | 36.5% |
| 2020 | $936.00M | $439.00M | 46.9% |
| 2019 | $1.17B | $403.00M | 34.5% |
| 2018 | $1.33B | $214.00M | 16.1% |
| 2017 | $811.00M | $208.00M | 25.6% |
| 2016 | $814.00M | $210.00M | 25.8% |
| 2015 | $1.09B | $207.40M | 19.0% |
| 2014 | $1.13B | $202.30M | 17.9% |
| 2013 | $1.08B | $0 | 0.0% |
| 2012 | $1.06B | $0 | 0.0% |
| 2011 | $1.12B | $0 | 0.0% |
| 2010 | $839.40M | $0 | 0.0% |
| 2009 | $599.57M | $0 | 0.0% |
| 2008 | $820.61M | $0 | 0.0% |
| 2007 | $698.63M | $0 | 0.0% |
| 2006 | $421.37M | $0 | 0.0% |
| 2005 | $368.55M | $0 | 0.0% |
| 2004 | $262.29M | $0 | 0.0% |
| 2003 | $133.98M | $0 | 0.0% |
| 2002 | ($140.34M) | $0 | N/A (Loss) |
| 2001 | $134.67M | $0 | 0.0% |
| 2000 | $77.26M | $0 | 0.0% |
| 1999 | $30.47M | $0 | 0.0% |
| 1998 | $14.76M | $0 | 0.0% |
| 1997 | ($0.85M) | $0 | N/A (Loss) |
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.
