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 22.85% is 48% below its 1-year average of 44.02%, near the low end of its 1-year range (22.85%–91.85%).
As of the fiscal period ended Tuesday, June 30, 2026. 48.11% below its 12-month average of 44.02%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
22.85%
FCF PAYOUT RATIO AVG TTM
44.02%
FCF PAYOUT RATIO AVG 3Y
44.02%
FCF PAYOUT RATIO AVG 5Y
44.02%
FCF PAYOUT RATIO AVG 10Y
44.02%
FCF PAYOUT RATIO AVG 15Y
179.08%
FCF PAYOUT RATIO AVG 20Y
183.10%
CURRENT VS TTM AVG
-48.11%
CURRENT VS 3Y AVG
-48.11%
CURRENT VS 5Y AVG
-48.11%
CURRENT VS 10Y AVG
-48.11%
CURRENT VS 15Y AVG
-87.24%
CURRENT VS 20Y AVG
-87.52%
FCF Payout Ratio TTM
22.8%
Earnings Payout Ratio
65.7%
Dividend Yield
3.05%
FCF Yield
13.07%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $6.81B | $2.01B | 29.5% |
| 2024 | ($966.30M) | $1.90B | N/A (Loss) |
| 2023 | ($2.49B) | $1.76B | N/A (Loss) |
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 | 22.85% |
| 2026-03-31 | 26.48% |
| 2025-12-31 | 24.21% |
| 2025-09-30 | 54.73% |
| 2025-06-30 | 91.85% |
| 2015-12-31 | 484.67% |
| 2015-09-30 | 474.23% |
| 2015-03-31 | 321.43% |
| 2014-12-31 | 273.64% |
| 2014-09-30 | 164.09% |
| 2014-06-30 | 127.36% |
| 2014-03-31 | 151.49% |
| 2013-12-31 | 290.85% |
| 2013-09-30 | 223.87% |
| 2013-06-30 | 372.29% |
| 2013-03-31 | 183.77% |
| 2012-12-31 | 136.31% |
| 2012-09-30 | 269.71% |
| 2012-06-30 | 123.11% |
| 2012-03-31 | 90.23% |
| 2011-12-31 | 88.85% |
| 2011-09-30 | 55.92% |
| 2011-06-30 | 66.97% |
| 2011-03-31 | 92.72% |
| 2010-12-31 | 365.93% |
| 2010-09-30 | 868.48% |
| 2005-06-30 | 258.69% |
| 2005-03-31 | 111.90% |
| 2004-12-31 | 61.39% |
| 2004-09-30 | 35.34% |
| 2004-06-30 | 40.42% |
| 2004-03-31 | 49.60% |
| 2003-12-31 | 65.05% |
| 2003-09-30 | 71.22% |
| 2003-06-30 | 94.56% |
| 2022 |
| ($1.48B) |
| $1.65B |
| N/A (Loss) |
| 2021 | ($1.92B) | $1.52B | N/A (Loss) |
| 2020 | ($2.48B) | $1.42B | N/A (Loss) |
| 2019 | ($1.87B) | $1.35B | N/A (Loss) |
| 2018 | ($1.13B) | $1.25B | N/A (Loss) |
| 2017 | ($1.53B) | $1.19B | N/A (Loss) |
| 2016 | ($390.30M) | $1.12B | N/A (Loss) |
| 2015 | $218.50M | $1.06B | 484.7% |
| 2014 | $363.00M | $993.30M | 273.6% |
| 2013 | $328.00M | $954.00M | 290.9% |
| 2012 | $672.00M | $916.00M | 136.3% |
| 2011 | $1.01B | $900.00M | 88.8% |
| 2010 | $226.00M | $827.00M | 365.9% |
| 2009 | ($317.00M) | $761.00M | N/A (Loss) |
| 2008 | ($1.22B) | $663.00M | N/A (Loss) |
| 2007 | ($1.17B) | $630.00M | N/A (Loss) |
| 2006 | ($796.00M) | $591.00M | N/A (Loss) |
| 2005 | ($527.00M) | $553.00M | N/A (Loss) |
| 2004 | $904.00M | $555.00M | 61.4% |
| 2003 | $950.00M | $618.00M | 65.1% |
| 2002 | ($45.00M) | $793.00M | N/A (Loss) |
| 2001 | $1.12B | $778.00M | 69.4% |
| 2000 | ($270.00M) | $805.00M | N/A (Loss) |
| 1999 | ($50.00M) | $464.00M | N/A (Loss) |
| 1998 | $237.40M | $457.60M | 192.8% |
| 1997 | $437.50M | $453.50M | 103.7% |
| 1996 | $659.40M | $449.40M | 68.2% |
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.
