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 19.94% is 23% above its 5-year average of 16.23%, near the low end of its 5-year range (9.91%–141.04%).
As of the fiscal period ended Tuesday, June 30, 2026. 60.05% above its 12-month average of 12.46%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted. Q2 FY2026 (2026-06-30): 19.94%.
FCF PAYOUT RATIO
19.94%
FCF PAYOUT RATIO AVG TTM
12.46%
FCF PAYOUT RATIO AVG 3Y
15.39%
FCF PAYOUT RATIO AVG 5Y
16.23%
FCF PAYOUT RATIO AVG 10Y
15.72%
FCF PAYOUT RATIO AVG 15Y
15.67%
FCF PAYOUT RATIO AVG 20Y
15.55%
CURRENT VS TTM AVG
+60.05%
CURRENT VS 3Y AVG
+29.57%
CURRENT VS 5Y AVG
+22.91%
CURRENT VS 10Y AVG
+26.88%
CURRENT VS 15Y AVG
+27.25%
CURRENT VS 20Y AVG
+28.23%
FCF Payout Ratio TTM
19.9%
Earnings Payout Ratio
28.8%
Dividend Yield
0.86%
FCF Yield
4.38%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $893.10M | $93.00M | 10.4% |
| 2024 | $499.90M | $93.00M | 18.6% |
| 2023 | $596.20M | $92.80M | 15.6% |
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 | 19.94% |
| 2026-03-31 | 11.56% |
| 2025-12-31 | 10.41% |
| 2025-09-30 | 9.91% |
| 2025-06-30 | 10.47% |
| 2025-03-31 | 17.84% |
| 2024-12-31 | 18.60% |
| 2024-09-30 | 19.12% |
| 2024-06-30 | 17.79% |
| 2024-03-31 | 16.20% |
| 2023-12-31 | 15.57% |
| 2023-09-30 | 15.58% |
| 2023-06-30 | 17.10% |
| 2023-03-31 | 19.99% |
| 2022-12-31 | 25.79% |
| 2022-09-30 | 137.48% |
| 2022-06-30 | 135.07% |
| 2022-03-31 | 141.04% |
| 2021-12-31 | 110.69% |
| 2021-10-02 | 15.23% |
| 2021-07-03 | 14.74% |
| 2021-04-03 | 14.54% |
| 2020-12-31 | 12.55% |
| 2020-09-26 | 12.13% |
| 2020-06-27 | 11.97% |
| 2020-03-28 | 11.98% |
| 2019-12-31 | 15.47% |
| 2019-09-28 | 16.92% |
| 2019-06-29 | 18.89% |
| 2019-03-30 | 18.35% |
| 2018-12-31 | 16.56% |
| 2018-09-29 | 20.06% |
| 2018-06-30 | 21.37% |
| 2018-03-31 | 20.89% |
| 2017-12-31 | 19.63% |
| 2017-09-30 | 15.79% |
| 2017-07-01 | 12.39% |
| 2017-04-01 | 11.71% |
| 2016-12-31 | 11.24% |
| 2016-10-01 | 11.26% |
| 2016-07-02 | 12.04% |
| 2016-04-02 | 12.09% |
| 2015-12-31 | 13.91% |
| 2015-10-03 | 15.90% |
| 2015-07-04 | 19.52% |
| 2015-04-04 | 20.93% |
| 2014-12-31 | 18.00% |
| 2014-09-27 | 17.91% |
| 2014-06-28 | 17.82% |
| 2014-03-29 | 18.69% |
| 2013-12-31 | 16.40% |
| 2013-09-28 | 15.45% |
| 2013-06-29 | 15.19% |
| 2013-03-30 | 12.02% |
| 2012-12-31 | 11.50% |
| 2012-09-29 | 10.37% |
| 2012-06-30 | 9.86% |
| 2012-03-31 | 12.51% |
| 2011-12-31 | 13.27% |
| 2011-10-01 | 18.55% |
| 2011-07-02 | 21.88% |
| 2011-04-02 | 20.42% |
| 2010-12-31 | 19.25% |
| 2010-10-02 | 12.80% |
| 2010-07-03 | 9.19% |
| 2010-03-31 | 7.42% |
| 2009-12-31 | 7.68% |
| 2009-09-30 | 12.10% |
| 2009-06-30 | 19.17% |
| 2009-03-28 | 24.99% |
| 2008-12-31 | 22.03% |
| 2008-09-27 | 14.25% |
| 2008-06-30 | 11.05% |
| 2008-03-29 | 9.87% |
| 2007-12-31 | 11.04% |
| 2007-09-29 | 10.40% |
| 2007-06-30 | 16.55% |
| 2007-03-31 | 34.84% |
| 2006-12-31 | 40.55% |
| 2006-09-30 | 29.35% |
| 2005-06-29 | 46.43% |
| 2005-03-31 | 107.13% |
| 2004-12-31 | 54.28% |
| 2004-09-28 | 27.91% |
| 2004-06-29 | 29.86% |
| 2004-03-30 | 30.00% |
| 2003-12-31 | 29.30% |
| 2003-09-30 | 42.52% |
| 2003-06-30 | 46.65% |
| 2022 |
| $352.40M |
| $90.90M |
| 25.8% |
| 2021 | $303.20M | $335.60M | 110.7% |
| 2020 | $387.90M | $48.70M | 12.6% |
| 2019 | $316.10M | $48.90M | 15.5% |
| 2018 | $285.10M | $47.20M | 16.6% |
| 2017 | $226.70M | $44.50M | 19.6% |
| 2016 | $374.40M | $42.10M | 11.2% |
| 2015 | $288.90M | $40.20M | 13.9% |
| 2014 | $210.00M | $37.80M | 18.0% |
| 2013 | $214.00M | $35.10M | 16.4% |
| 2012 | $260.70M | $30.80M | 11.8% |
| 2011 | $207.68M | $27.57M | 13.3% |
| 2010 | $130.39M | $25.10M | 19.2% |
| 2009 | $281.31M | $21.61M | 7.7% |
| 2008 | $101.99M | $22.47M | 22.0% |
| 2007 | $164.00M | $18.10M | 11.0% |
| 2006 | $41.00M | $16.63M | 40.6% |
| 2005 | $83.95M | $14.73M | 17.5% |
| 2004 | $21.88M | $11.88M | 54.3% |
| 2003 | $41.00M | $12.01M | 29.3% |
| 2002 | $43.66M | $11.02M | 25.2% |
| 2001 | $66.34M | $10.02M | 15.1% |
| 2000 | $35.09M | $10.07M | 28.7% |
| 1999 | $26.80M | $10.10M | 37.7% |
| 1998 | $35.60M | $10.00M | 28.1% |
| 1997 | ($216.60M) | $10.00M | N/A (Loss) |
| 1996 | $42.60M | $9.50M | 22.3% |
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.
