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 29.02% is 49% below its 5-year average of 56.82%, near the low end of its 5-year range (6.82%–300.00%).
As of the fiscal period ended Saturday, March 28, 2026. 5.71% above its 12-month average of 27.45%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
29.02%
FCF PAYOUT RATIO AVG TTM
27.45%
FCF PAYOUT RATIO AVG 3Y
25.57%
FCF PAYOUT RATIO AVG 5Y
27.25%
FCF PAYOUT RATIO AVG 10Y
28.90%
FCF PAYOUT RATIO AVG 15Y
25.54%
FCF PAYOUT RATIO AVG 20Y
20.44%
CURRENT VS TTM AVG
+5.71%
CURRENT VS 3Y AVG
+13.49%
CURRENT VS 5Y AVG
+6.49%
CURRENT VS 10Y AVG
+0.42%
CURRENT VS 15Y AVG
+13.63%
CURRENT VS 20Y AVG
+41.98%
FCF Payout Ratio TTM
29.0%
Earnings Payout Ratio
24.2%
Dividend Yield
0.99%
FCF Yield
3.19%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $746.10M | $216.50M | 29.0% |
| 2025 | $1.02B | $201.10M | 19.7% |
| 2024 | $904.90M | $194.60M | 21.5% |
| 2023 | $193.50M | $198.30M | 102.5% |
| 2022 | $549.00M | $150.00M | 27.3% |
| 2021 | $273.10M | $49.80M | 18.2% |
| 2020 | $484.30M | $203.90M | 42.1% |
| 2019 | $586.10M | $190.70M | 32.5% |
| 2018 | $813.50M | $162.40M | 20.0% |
| 2017 | $668.30M | $164.80M | 24.7% |
| 2016 | $589.00M | $170.00M | 28.9% |
| 2015 | $503.00M | $158.00M | 31.4% |
| 2014 | $517.00M | $149.00M | 28.8% |
| 2013 | $742.40M | $127.80M | 17.2% |
| 2012 | $613.10M | $74.30M | 12.1% |
| 2011 | $433.70M | $38.50M | 8.9% |
| 2010 | $705.20M | $24.70M | 3.5% |
| 2009 | $589.20M | $19.90M | 3.4% |
| 2008 | $478.30M | $20.50M | 4.3% |
| 2007 | $612.10M | $20.90M | 3.4% |
| 2006 | $290.50M | $20.80M | 7.2% |
| 2005 | $207.83M | $21.72M | 10.4% |
| 2004 | $87.58M | $14.85M | 17.0% |
| 2003 | $170.31M | $0 | 0.0% |
| 2002 | $205.75M | $0 | 0.0% |
| 2001 | ($4.88M) | $0 | N/A (Loss) |
| 2000 | $120.68M | $0 | 0.0% |
| 1999 | ($110.20M) | $0 | N/A (Loss) |
| 1998 | $24.60M | $44.90M | 182.5% |
| 1997 | $168.30M | $90.30M | 53.7% |
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 |
|---|---|
| 2026-03-28 | 29.02% |
| 2025-12-27 | 30.57% |
| 2025-09-27 | 31.18% |
| 2025-06-28 | 26.75% |
| 2025-03-29 | 19.74% |
| 2024-12-28 | 18.72% |
| 2024-09-28 | 20.71% |
| 2024-06-29 | 21.02% |
| 2024-03-30 | 21.51% |
| 2023-12-30 | 25.28% |
| 2023-09-30 | 36.78% |
| 2023-07-01 | 47.62% |
| 2023-04-01 | 102.48% |
| 2022-12-31 | 241.10% |
| 2022-10-01 | 300.00% |
| 2022-07-02 | 59.05% |
| 2022-04-02 | 27.32% |
| 2021-12-25 | 13.90% |
| 2021-09-25 | 6.82% |
| 2021-03-27 | 18.24% |
| 2020-12-26 | 48.76% |
| 2020-09-26 | 44.10% |
| 2020-06-27 | 83.74% |
| 2020-03-28 | 42.10% |
| 2019-12-28 | 34.63% |
| 2019-09-28 | 37.30% |
| 2019-06-29 | 36.44% |
| 2019-03-30 | 32.54% |
| 2018-12-29 | 35.10% |
| 2018-09-29 | 30.22% |
| 2018-06-30 | 22.90% |
| 2018-03-31 | 19.96% |
| 2017-12-30 | 18.65% |
| 2017-09-30 | 17.01% |
| 2017-07-01 | 20.65% |
| 2017-04-01 | 24.66% |
| 2016-12-31 | 24.16% |
| 2016-10-01 | 33.74% |
| 2016-07-02 | 34.29% |
| 2016-04-02 | 28.86% |
| 2015-12-26 | 37.95% |
| 2015-09-26 | 29.05% |
| 2015-06-27 | 36.84% |
| 2015-03-28 | 31.41% |
| 2014-12-27 | 24.77% |
| 2014-09-27 | 25.41% |
| 2014-06-28 | 24.76% |
| 2014-03-29 | 28.82% |
| 2013-12-28 | 21.58% |
| 2013-09-28 | 26.08% |
| 2013-06-29 | 19.01% |
| 2013-03-30 | 17.21% |
| 2012-12-29 | 21.16% |
| 2012-09-29 | 15.03% |
| 2012-06-30 | 11.42% |
| 2012-03-31 | 12.12% |
| 2011-12-31 | 10.30% |
| 2011-10-01 | 11.42% |
| 2011-07-02 | 10.04% |
| 2011-04-02 | 8.88% |
| 2011-01-01 | 9.04% |
| 2010-10-02 | 6.02% |
| 2010-07-03 | 5.23% |
| 2010-04-03 | 3.50% |
| 2009-12-26 | 2.98% |
| 2009-09-26 | 3.57% |
| 2009-06-27 | 3.80% |
| 2009-03-28 | 3.38% |
| 2008-12-27 | 3.61% |
| 2008-09-27 | 3.26% |
| 2008-06-28 | 3.48% |
| 2008-03-29 | 4.29% |
| 2007-12-29 | 3.39% |
| 2007-09-29 | 3.57% |
| 2007-06-30 | 3.20% |
| 2007-03-31 | 3.41% |
| 2006-12-30 | 4.69% |
| 2006-09-30 | 5.80% |
| 2006-07-01 | 6.34% |
| 2006-04-01 | 7.16% |
| 2005-12-31 | 6.03% |
| 2005-10-01 | 7.33% |
| 2005-07-02 | 7.21% |
| 2005-04-02 | 10.45% |
| 2005-01-01 | 9.55% |
| 2004-10-02 | 13.48% |
| 2004-07-03 | 9.84% |
| 2004-04-03 | 11.33% |
| 2003-12-27 | 6.06% |
