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 38.43% is in line with its 5-year average of 37.25%, around the middle of its 5-year range (22.90%–48.30%).
As of the fiscal period ended Tuesday, June 30, 2026. 11.66% below its 12-month average of 43.51%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
38.43%
FCF PAYOUT RATIO AVG TTM
43.51%
FCF PAYOUT RATIO AVG 3Y
41.96%
FCF PAYOUT RATIO AVG 5Y
37.25%
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
-11.66%
CURRENT VS 3Y AVG
-8.41%
CURRENT VS 5Y AVG
+3.18%
CURRENT VS 10Y AVG
N/A
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
38.4%
Earnings Payout Ratio
48.2%
Dividend Yield
2.36%
FCF Yield
6.16%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $1.44B | $647.00M | 44.8% |
| 2024 | $1.44B | $606.00M | 42.2% |
| 2023 | $1.49B | $539.00M | 36.2% |
| 2022 | $1.45B | $465.00M | 32.2% |
| 2021 | $1.59B | $393.00M | 24.7% |
| 2020 | $1.30B | $260.00M | 20.0% |
| 2019 | $1.32B | $0 | 0.0% |
| 2018 | $1.38B | $0 | 0.0% |
| 2017 | $1.32B | $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 | 38.43% |
| 2026-03-31 | 39.27% |
| 2025-12-31 | 44.81% |
| 2025-09-30 | 48.30% |
| 2025-06-30 | 46.74% |
| 2025-03-31 | 42.88% |
| 2024-12-31 | 42.17% |
| 2024-09-30 | 43.92% |
| 2024-06-30 | 45.80% |
| 2024-03-31 | 40.48% |
| 2023-12-31 | 36.20% |
| 2023-09-30 | 38.12% |
| 2023-06-30 | 38.41% |
| 2023-03-31 | 39.46% |
| 2022-12-31 | 32.18% |
| 2022-09-30 | 35.73% |
| 2022-06-30 | 31.42% |
| 2022-03-31 | 26.72% |
| 2021-12-31 | 24.65% |
| 2021-09-30 | 23.68% |
| 2021-06-30 | 22.90% |
| 2021-03-31 | 20.20% |
| 2020-12-31 | 20.05% |
| 2020-09-30 | 11.80% |
| 2020-06-30 | 5.86% |
