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 75.47% is in line with its 3-year average of 69.97%, near the low end of its 3-year range (22.25%–211.81%).
As of the fiscal period ended Tuesday, June 30, 2026. 3.89% below its 12-month average of 78.53%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
75.47%
FCF PAYOUT RATIO AVG TTM
78.53%
FCF PAYOUT RATIO AVG 3Y
73.94%
FCF PAYOUT RATIO AVG 5Y
69.97%
FCF PAYOUT RATIO AVG 10Y
69.97%
FCF PAYOUT RATIO AVG 15Y
69.97%
FCF PAYOUT RATIO AVG 20Y
69.97%
CURRENT VS TTM AVG
-3.89%
CURRENT VS 3Y AVG
+2.07%
CURRENT VS 5Y AVG
+7.87%
CURRENT VS 10Y AVG
+7.87%
CURRENT VS 15Y AVG
+7.87%
CURRENT VS 20Y AVG
+7.87%
FCF Payout Ratio TTM
75.5%
Earnings Payout Ratio
19.4%
Dividend Yield
0.67%
FCF Yield
0.88%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $662.00M | $464.00M | 70.1% |
| 2024 | $419.00M | $434.00M | 103.6% |
| 2023 | $634.00M | $406.00M | 64.0% |
| 2022 | $743.00M | $0 | 0.0% |
| 2021 | $491.00M | $0 | 0.0% |
| 2020 | $1.50B | $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.
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 | 75.47% |
| 2026-03-31 | 71.04% |
| 2025-12-31 | 70.09% |
| 2025-09-30 | 101.78% |
| 2025-06-30 | 74.26% |
| 2025-03-31 | 69.17% |
| 2024-12-31 | 103.58% |
| 2024-09-30 | 57.47% |
| 2024-06-30 | 46.88% |
| 2024-03-31 | 40.29% |
| 2023-12-31 | 64.04% |
| 2023-09-30 | 211.81% |
| 2023-06-30 | 113.26% |
| 2023-03-31 | 22.25% |
| 2003-09-30 | 37.82% |
| 2003-06-30 | 192.57% |
| 0.0% |
| 2019 | $674.00M | $0 | 0.0% |
| 2018 | $562.00M | $0 | 0.0% |
| 2017 | $341.00M | $0 | 0.0% |
| 2016 | $614.00M | $0 | 0.0% |
| 2015 | $359.00M | $0 | 0.0% |
| 2014 | ($20.00M) | $0 | N/A (Loss) |
| 2013 | ($133.00M) | $0 | N/A (Loss) |
| 2012 | ($648.00M) | $0 | N/A (Loss) |
| 2011 | ($202.00M) | $0 | N/A (Loss) |
| 2010 | $78.00M | $0 | 0.0% |
| 2009 | $127.00M | $0 | 0.0% |
| 2008 | $60.00M | $257.00M | 428.3% |
| 2007 | ($122.00M) | $0 | N/A (Loss) |
| 2006 | ($107.00M) | $0 | N/A (Loss) |
| 2005 | ($220.00M) | $0 | N/A (Loss) |
| 2004 | ($14.00M) | $0 | N/A (Loss) |
| 2003 | ($371.00M) | $18.16M | N/A (Loss) |
| 2002 | ($12.95M) | $83.04M | N/A (Loss) |
| 2001 | $199.39M | $0 | 0.0% |
| 2000 | ($449.25M) | $0 | N/A (Loss) |
| 1999 | ($1.41B) | $0 | N/A (Loss) |
| 1998 | ($1.26B) | $0 | N/A (Loss) |
