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 40.24% is in line with its 5-year average of 39.90%, near the low end of its 5-year range (21.74%–586.95%).
As of the fiscal period ended Sunday, May 31, 2026. 12.67% below its 12-month average of 46.08%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
40.24%
FCF PAYOUT RATIO AVG TTM
46.08%
FCF PAYOUT RATIO AVG 3Y
39.33%
FCF PAYOUT RATIO AVG 5Y
39.90%
FCF PAYOUT RATIO AVG 10Y
47.34%
FCF PAYOUT RATIO AVG 15Y
52.46%
FCF PAYOUT RATIO AVG 20Y
52.21%
CURRENT VS TTM AVG
-12.67%
CURRENT VS 3Y AVG
+2.31%
CURRENT VS 5Y AVG
+0.84%
CURRENT VS 10Y AVG
-15.00%
CURRENT VS 15Y AVG
-23.29%
CURRENT VS 20Y AVG
-22.93%
FCF Payout Ratio TTM
40.2%
Earnings Payout Ratio
41.6%
Dividend Yield
1.92%
FCF Yield
4.72%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $675.20M | $271.70M | 40.2% |
| 2025 | $538.26M | $255.56M | 47.5% |
| 2024 | $908.34M | $231.88M | 25.5% |
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 | 40.24% |
| 2026-02-28 | 46.64% |
| 2025-11-30 | 45.42% |
| 2025-08-31 | 50.62% |
| 2025-05-31 | 47.48% |
| 2025-02-28 | 44.10% |
| 2024-11-30 | 37.02% |
| 2024-08-31 | 29.64% |
| 2024-05-31 | 25.53% |
| 2024-02-29 | 21.74% |
| 2023-11-30 | 23.99% |
| 2023-08-31 | 32.62% |
| 2023-05-31 | 66.29% |
| 2023-02-28 | 586.95% |
| 2022-02-28 | 316.23% |
| 2021-11-30 | 125.95% |
| 2021-08-31 | 55.25% |
| 2021-05-31 | 31.98% |
| 2021-02-28 | 28.41% |
| 2020-11-30 | 27.73% |
| 2020-08-31 | 32.69% |
| 2020-05-31 | 46.03% |
| 2020-02-29 | 49.78% |
| 2019-11-30 | 62.58% |
| 2019-08-31 | 61.31% |
| 2019-05-31 | 116.15% |
| 2019-02-28 | 65.97% |
| 2018-11-30 | 58.64% |
| 2018-08-31 | 59.90% |
| 2018-05-31 | 60.73% |
| 2018-02-28 | 70.64% |
| 2017-11-30 | 74.36% |
| 2017-08-31 | 70.67% |
| 2017-05-31 | 60.29% |
| 2017-02-28 | 54.36% |
| 2016-11-30 | 45.03% |
| 2016-08-31 | 41.49% |
| 2016-05-31 | 40.38% |
| 2016-02-29 | 32.58% |
| 2015-11-30 | 39.96% |
| 2015-08-31 | 36.83% |
| 2015-05-31 | 55.56% |
| 2015-02-28 | 70.44% |
| 2014-11-30 | 57.87% |
| 2014-08-31 | 68.31% |
| 2014-05-31 | 68.21% |
| 2014-02-28 | 100.06% |
| 2013-11-30 | 72.45% |
| 2013-08-31 | 90.38% |
| 2013-05-31 | 42.46% |
| 2013-02-28 | 50.60% |
| 2012-11-30 | 50.18% |
| 2012-08-31 | 50.07% |
| 2012-05-31 | 50.23% |
| 2012-02-29 | 75.13% |
| 2011-11-30 | 90.23% |
| 2011-08-31 | 67.09% |
| 2011-05-31 | 54.75% |
| 2011-02-28 | 61.56% |
| 2010-11-30 | 62.24% |
| 2010-08-31 | 62.68% |
| 2010-05-31 | 58.35% |
| 2010-02-28 | 36.12% |
| 2009-11-30 | 33.50% |
| 2009-08-31 | 36.01% |
| 2009-05-31 | 48.03% |
| 2009-02-28 | 77.30% |
| 2008-11-30 | 62.27% |
| 2008-08-31 | 64.14% |
| 2008-05-31 | 55.65% |
| 2008-02-29 | 41.10% |
| 2007-11-30 | 29.68% |
| 2007-08-31 | 37.70% |
| 2007-05-31 | 30.23% |
| 2007-02-28 | 40.91% |
| 2006-11-30 | 65.73% |
| 2006-08-31 | 67.87% |
| 2006-05-31 | 59.86% |
| 2006-02-28 | 61.29% |
| 2005-11-30 | 72.34% |
| 2005-08-31 | 75.94% |
| 2005-05-31 | 67.75% |
| 2005-02-28 | 82.53% |
| 2004-11-30 | 51.25% |
| 2004-08-31 | 56.20% |
| 2004-05-31 | 62.56% |
| 2004-02-29 | 58.82% |
| 2003-11-30 | 66.28% |
| 2003-08-31 | 49.11% |
| 2003-05-31 | 49.77% |
| 2023 |
| $322.67M |
| $213.91M |
| 66.3% |
| 2022 | ($43.67M) | $204.39M | N/A (Loss) |
| 2021 | $608.96M | $194.72M | 32.0% |
| 2020 | $402.16M | $185.10M | 46.0% |
| 2019 | $156.18M | $181.41M | 116.2% |
| 2018 | $275.76M | $167.48M | 60.7% |
| 2017 | $260.02M | $156.75M | 60.3% |
| 2016 | $357.52M | $144.35M | 40.4% |
| 2015 | $245.09M | $136.18M | 55.6% |
| 2014 | $184.36M | $125.74M | 68.2% |
| 2013 | $277.09M | $117.65M | 42.5% |
| 2012 | $223.26M | $112.15M | 50.2% |
| 2011 | $198.34M | $108.58M | 54.7% |
| 2010 | $180.69M | $105.43M | 58.3% |
| 2009 | $212.01M | $101.84M | 48.0% |
| 2008 | $162.87M | $90.64M | 55.6% |
| 2007 | $131.91M | $82.11M | 62.2% |
| 2006 | $124.33M | $74.43M | 59.9% |
| 2005 | $101.74M | $68.93M | 67.8% |
| 2004 | $101.74M | $63.65M | 62.6% |
| 2003 | $118.81M | $59.14M | 49.8% |
| 2002 | $151.44M | $52.41M | 34.6% |
| 2001 | $20.38M | $50.60M | 248.3% |
| 2000 | $39.39M | $51.90M | 131.8% |
| 1999 | $19.70M | $50.40M | 255.8% |
| 1998 | $2.90M | $43.50M | n/m |
| 1997 | $33.20M | $39.70M | 119.6% |
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.
