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 25.71% is 13% below its 5-year average of 29.56%, near the low end of its 5-year range (19.95%–74.90%).
As of the fiscal period ended Tuesday, June 30, 2026. 2.29% below its 12-month average of 26.31%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted. Q2 FY2026 (2026-06-30): 25.71%.
FCF PAYOUT RATIO
25.71%
FCF PAYOUT RATIO AVG TTM
26.31%
FCF PAYOUT RATIO AVG 3Y
26.70%
FCF PAYOUT RATIO AVG 5Y
29.56%
FCF PAYOUT RATIO AVG 10Y
29.93%
FCF PAYOUT RATIO AVG 15Y
35.17%
FCF PAYOUT RATIO AVG 20Y
33.51%
CURRENT VS TTM AVG
-2.29%
CURRENT VS 3Y AVG
-3.72%
CURRENT VS 5Y AVG
-13.02%
CURRENT VS 10Y AVG
-14.10%
CURRENT VS 15Y AVG
-26.90%
CURRENT VS 20Y AVG
-23.28%
FCF Payout Ratio TTM
25.7%
Earnings Payout Ratio
38.5%
Dividend Yield
1.16%
FCF Yield
4.53%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $406.10M | $98.30M | 24.2% |
| 2024 | $305.70M | $96.10M | 31.4% |
| 2023 | $357.40M | $94.00M | 26.3% |
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 | 25.71% |
| 2026-03-31 | 25.70% |
| 2025-12-31 | 24.21% |
| 2025-09-30 | 25.05% |
| 2025-06-30 | 30.88% |
| 2025-03-31 | 29.85% |
| 2024-12-31 | 31.44% |
| 2024-09-30 | 37.25% |
| 2024-06-30 | 29.82% |
| 2024-03-31 | 29.14% |
| 2023-12-31 | 26.30% |
| 2023-09-30 | 19.95% |
| 2023-06-30 | 22.35% |
| 2023-03-31 | 25.66% |
| 2022-12-31 | 32.13% |
| 2022-09-30 | 58.20% |
| 2022-06-30 | 74.90% |
| 2022-03-31 | 45.65% |
| 2021-12-31 | 38.56% |
| 2021-09-30 | 34.46% |
| 2021-06-30 | 27.44% |
| 2021-03-31 | 20.26% |
| 2020-12-31 | 19.08% |
| 2020-09-30 | 16.91% |
| 2020-06-30 | 17.74% |
| 2020-03-31 | 21.74% |
| 2019-12-31 | 20.73% |
| 2019-09-30 | 23.72% |
| 2019-06-30 | 22.99% |
| 2019-03-31 | 27.01% |
| 2018-12-31 | 38.99% |
| 2018-09-30 | 46.30% |
| 2018-06-30 | 111.76% |
| 2018-03-31 | 197.42% |
| 2017-12-31 | 63.06% |
| 2017-09-30 | 54.27% |
| 2017-06-30 | 43.82% |
| 2017-03-31 | 30.19% |
| 2016-12-31 | 30.85% |
| 2016-09-30 | 29.46% |
| 2016-06-30 | 23.40% |
| 2016-03-31 | 29.10% |
| 2015-12-31 | 32.32% |
| 2015-09-30 | 34.69% |
| 2015-06-30 | 50.77% |
| 2015-03-31 | 56.97% |
| 2014-12-31 | 62.06% |
| 2014-09-30 | 64.63% |
| 2014-06-30 | 61.25% |
| 2014-03-31 | 46.02% |
| 2013-12-31 | 82.08% |
| 2013-09-30 | 46.15% |
| 2013-06-30 | 43.69% |
| 2013-03-31 | 28.19% |
| 2012-12-31 | 27.06% |
| 2012-09-30 | 24.01% |
| 2012-06-30 | 23.94% |
| 2012-03-31 | 58.03% |
| 2011-03-31 | 852.57% |
| 2010-12-31 | 26.05% |
| 2010-09-30 | 11.11% |
| 2010-06-30 | 9.62% |
| 2010-03-31 | 7.74% |
| 2009-12-31 | 9.05% |
| 2009-09-30 | 9.74% |
| 2009-06-30 | 11.17% |
| 2009-03-31 | 18.69% |
| 2008-12-31 | 22.67% |
| 2008-09-30 | 45.86% |
| 2008-06-30 | 501.68% |
| 2008-03-31 | 266.53% |
| 2007-12-31 | 276.81% |
| 2007-09-30 | 163.74% |
| 2007-06-30 | 480.39% |
| 2007-03-31 | 114.28% |
| 2006-12-31 | 142.60% |
| 2006-09-30 | 50.27% |
| 2006-06-30 | 40.29% |
| 2006-03-31 | 77.02% |
| 2005-12-31 | 56.44% |
| 2005-09-30 | 78.00% |
| 2004-09-30 | 76.73% |
| 2004-06-30 | 83.23% |
| 2004-03-31 | 89.26% |
| 2003-12-31 | 48.73% |
| 2003-06-30 | 35.62% |
| 2022 |
| $285.40M |
| $91.70M |
| 32.1% |
| 2021 | $239.00M | $92.20M | 38.6% |
| 2020 | $456.00M | $87.00M | 19.1% |
| 2019 | $409.50M | $84.90M | 20.7% |
| 2018 | $219.90M | $85.70M | 39.0% |
| 2017 | $132.10M | $83.30M | 63.1% |
| 2016 | $264.50M | $81.60M | 30.9% |
| 2015 | $269.20M | $87.00M | 32.3% |
| 2014 | $180.20M | $90.30M | 50.1% |
| 2013 | $106.60M | $87.50M | 82.1% |
| 2012 | $328.90M | $89.00M | 27.1% |
| 2011 | $6.40M | $76.00M | n/m |
| 2010 | $196.90M | $51.30M | 26.1% |
| 2009 | $462.70M | $43.27M | 9.4% |
| 2008 | $297.60M | $67.46M | 22.7% |
| 2007 | $22.75M | $62.97M | 276.8% |
| 2006 | $40.84M | $58.23M | 142.6% |
| 2005 | $97.72M | $55.15M | 56.4% |
| 2004 | ($16.11M) | $46.77M | N/A (Loss) |
| 2003 | $86.36M | $42.08M | 48.7% |
| 2002 | $120.83M | $31.71M | 26.2% |
| 2001 | $93.49M | $40.17M | 43.0% |
| 2000 | $0.61M | $43.56M | n/m |
| 1999 | $83.30M | $44.50M | 53.4% |
| 1998 | $12.40M | $44.80M | 361.3% |
| 1997 | ($0.10M) | $38.70M | N/A (Loss) |
| 1996 | ($49.80M) | $30.20M | N/A (Loss) |
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.
