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 60.70% is 49% above its 5-year average of 40.73%, around the middle of its 5-year range (18.88%–118.57%).
As of the fiscal period ended Tuesday, June 30, 2026. 15.37% above its 12-month average of 52.61%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
60.70%
FCF PAYOUT RATIO AVG TTM
52.61%
FCF PAYOUT RATIO AVG 3Y
36.11%
FCF PAYOUT RATIO AVG 5Y
36.64%
FCF PAYOUT RATIO AVG 10Y
36.26%
FCF PAYOUT RATIO AVG 15Y
37.25%
FCF PAYOUT RATIO AVG 20Y
36.01%
CURRENT VS TTM AVG
+15.37%
CURRENT VS 3Y AVG
+68.11%
CURRENT VS 5Y AVG
+65.68%
CURRENT VS 10Y AVG
+67.41%
CURRENT VS 15Y AVG
+62.94%
CURRENT VS 20Y AVG
+68.59%
FCF Payout Ratio TTM
60.7%
Earnings Payout Ratio
46.4%
Dividend Yield
2.48%
FCF Yield
8.27%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $309.52M | $184.92M | 59.7% |
| 2024 | $599.71M | $179.63M | 30.0% |
| 2023 | $828.13M | $167.46M | 20.2% |
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 |
|---|---|
| 2026-06-30 | 60.70% |
| 2026-03-31 | 53.64% |
| 2025-12-31 | 59.74% |
| 2025-09-30 | 46.65% |
| 2025-06-30 | 42.32% |
| 2025-03-31 | 37.62% |
| 2024-12-31 | 29.95% |
| 2024-09-30 | 31.34% |
| 2024-06-30 | 28.08% |
| 2024-03-31 | 19.65% |
| 2023-12-31 | 20.22% |
| 2023-09-30 | 18.88% |
| 2023-06-30 | 20.62% |
| 2023-03-31 | 21.12% |
| 2022-12-31 | 34.14% |
| 2022-09-30 | 65.15% |
| 2022-06-30 | 118.57% |
| 2021-12-31 | 43.35% |
| 2021-09-30 | 32.72% |
| 2021-06-30 | 30.22% |
| 2021-03-31 | 21.51% |
| 2020-12-31 | 24.46% |
| 2020-09-30 | 21.52% |
| 2020-06-30 | 22.60% |
| 2020-03-31 | 34.58% |
| 2019-12-31 | 31.56% |
| 2019-09-30 | 28.49% |
| 2019-06-30 | 33.51% |
| 2019-03-31 | 43.02% |
| 2018-12-31 | 79.73% |
| 2018-09-30 | 78.02% |
| 2018-06-30 | 41.98% |
| 2018-03-31 | 46.82% |
| 2017-12-31 | 42.69% |
| 2017-09-30 | 60.40% |
| 2017-06-30 | 56.90% |
| 2017-03-31 | 38.92% |
| 2016-12-31 | 37.97% |
| 2016-09-30 | 27.80% |
| 2016-06-30 | 30.76% |
| 2016-03-31 | 34.12% |
| 2015-12-31 | 36.87% |
| 2015-09-30 | 29.96% |
| 2015-06-30 | 42.40% |
| 2015-03-31 | 47.55% |
| 2014-12-31 | 35.99% |
| 2014-09-30 | 52.94% |
| 2014-06-30 | 53.59% |
| 2014-03-31 | 39.71% |
| 2013-12-31 | 39.15% |
| 2013-09-30 | 103.67% |
| 2013-06-30 | 88.37% |
| 2013-03-31 | 30.32% |
| 2012-12-31 | 28.34% |
| 2012-09-30 | 18.71% |
| 2012-06-30 | 24.88% |
| 2012-03-31 | 45.97% |
| 2011-12-31 | 47.57% |
| 2011-09-30 | 62.09% |
| 2011-06-30 | 84.06% |
| 2011-03-31 | 36.16% |
| 2010-12-31 | 29.98% |
| 2010-09-30 | 30.63% |
| 2010-06-30 | 25.58% |
| 2010-03-31 | 19.96% |
| 2009-12-31 | 23.86% |
| 2009-09-30 | 26.34% |
| 2009-06-30 | 16.20% |
| 2009-03-31 | 46.51% |
| 2008-12-31 | 28.32% |
| 2008-09-30 | 22.02% |
| 2008-06-30 | 28.00% |
| 2008-03-31 | 38.62% |
| 2007-12-31 | 37.26% |
| 2007-09-30 | 280.65% |
| 2007-06-30 | 44.41% |
| 2007-03-31 | 21.17% |
| 2006-12-31 | 38.87% |
| 2006-09-30 | 36.94% |
| 2006-06-30 | 65.81% |
| 2006-03-31 | 96.79% |
| 2005-12-31 | 60.09% |
| 2005-09-30 | 24.43% |
| 2005-06-30 | 41.26% |
| 2005-03-31 | 15.88% |
| 2004-12-31 | 14.39% |
| 2004-09-30 | 8.36% |
| 2022 |
| $441.24M |
| $150.62M |
| 34.1% |
| 2021 | $275.83M | $119.58M | 43.4% |
| 2020 | $375.88M | $91.93M | 24.5% |
| 2019 | $265.41M | $83.77M | 31.6% |
| 2018 | $87.08M | $69.43M | 79.7% |
| 2017 | $135.92M | $58.03M | 42.7% |
| 2016 | $131.03M | $49.75M | 38.0% |
| 2015 | $116.95M | $43.12M | 36.9% |
| 2014 | $104.49M | $37.60M | 36.0% |
| 2013 | $86.35M | $33.81M | 39.2% |
| 2012 | $102.81M | $29.14M | 28.3% |
| 2011 | $55.65M | $26.47M | 47.6% |
| 2010 | $85.88M | $25.75M | 30.0% |
| 2009 | $106.08M | $25.31M | 23.9% |
| 2008 | $86.28M | $24.43M | 28.3% |
| 2007 | $61.02M | $22.73M | 37.3% |
| 2006 | $54.23M | $21.08M | 38.9% |
| 2005 | $29.72M | $17.86M | 60.1% |
| 2004 | $49.89M | $10.71M | 21.5% |
| 2003 | $69.78M | $0 | 0.0% |
| 2002 | $52.73M | $0 | 0.0% |
| 2001 | $20.43M | $0 | 0.0% |
| 2000 | $14.01M | $0 | 0.0% |
| 1999 | $7.70M | $0 | 0.0% |
| 1998 | ($12.30M) | $0 | N/A (Loss) |
| 1997 | $6.20M | $0 | 0.0% |
| 1996 | $6.80M | $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.
