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 64.95% is 48% below its 5-year average of 124.84%, near the low end of its 5-year range (38.54%–593.44%).
As of the fiscal period ended Wednesday, June 30, 2021. 21.69% above its 12-month average of 53.37%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
64.95%
FCF PAYOUT RATIO AVG TTM
53.37%
FCF PAYOUT RATIO AVG 3Y
137.94%
FCF PAYOUT RATIO AVG 5Y
87.29%
FCF PAYOUT RATIO AVG 10Y
68.90%
FCF PAYOUT RATIO AVG 15Y
69.05%
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+21.69%
CURRENT VS 3Y AVG
-52.92%
CURRENT VS 5Y AVG
-25.59%
CURRENT VS 10Y AVG
-5.73%
CURRENT VS 15Y AVG
-5.94%
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
65.0%
Earnings Payout Ratio
55.9%
Dividend Yield
4.78%
FCF Yield
N/A
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | ($1.62B) | $501.00M | N/A (Loss) |
| 2024 | ($4.64B) | $483.00M | N/A (Loss) |
| 2023 | ($4.69B) | $444.00M | N/A (Loss) |
| 2022 | ($1.84B) | $422.00M | N/A (Loss) |
| 2021 | ($214.00M) | $401.00M | N/A (Loss) |
| 2020 | $855.00M | $381.00M | 44.6% |
| 2019 | $61.00M | $362.00M | 593.4% |
| 2018 | $222.00M | $344.00M | 155.0% |
| 2017 | $312.00M | $317.00M | 101.6% |
| 2016 | $539.00M | $290.00M | 53.8% |
| 2015 | ($174.00M) | $276.00M | N/A (Loss) |
| 2014 | ($225.00M) | $144.00M | N/A (Loss) |
| 2013 | $727.00M | $119.00M | 16.4% |
| 2012 | $665.00M | $30.00M | 4.5% |
| 2011 | $454.00M | $0 | 0.0% |
| 2010 | $1.20B | $0 | 0.0% |
| 2009 | ($307.00M) | $846.00M | N/A (Loss) |
| 2008 | ($675.00M) | $0 | N/A (Loss) |
| 2007 | ($68.00M) | $0 | N/A (Loss) |
| 2006 | $951.00M | $0 | 0.0% |
| 2005 | $1.02B | $0 | 0.0% |
| 2004 | $680.00M | $0 | 0.0% |
| 2003 | $414.00M | $0 | 0.0% |
| 2002 | ($608.00M) | $0 | N/A (Loss) |
| 2001 | ($1.48B) | $15.00M | N/A (Loss) |
| 2000 | ($1.69B) | $0 | N/A (Loss) |
| 1999 | ($637.00M) | $0 | N/A (Loss) |
| 1998 | $11.00M | $0 | 0.0% |
| 1997 | ($318.00M) | $0 | N/A (Loss) |
| 1996 | ($324.00M) | $0 | 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.
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 |
|---|---|
| 2021-06-30 | 64.95% |
| 2021-03-31 | 43.91% |
| 2020-12-31 | 44.56% |
| 2020-09-30 | 60.06% |
| 2019-12-31 | 593.44% |
| 2019-09-30 | 127.86% |
| 2019-06-30 | 143.50% |
| 2019-03-31 | 89.69% |
| 2018-12-31 | 154.95% |
| 2018-09-30 | 112.71% |
| 2018-06-30 | 81.73% |
| 2018-03-31 | 294.55% |
| 2017-12-31 | 99.37% |
| 2017-09-30 | 131.36% |
| 2017-06-30 | 114.34% |
| 2017-03-31 | 38.54% |
| 2016-12-31 | 53.80% |
| 2016-09-30 | 67.86% |
| 2016-06-30 | 54.69% |
| 2014-03-31 | 26.21% |
| 2013-12-31 | 16.37% |
| 2013-09-30 | 16.83% |
| 2013-06-30 | 10.96% |
| 2013-03-31 | 8.97% |
| 2012-12-31 | 4.51% |
| 2011-09-30 | 60.73% |
| 2011-06-30 | 93.98% |
| 2011-03-31 | 85.99% |
| 2010-12-31 | 80.17% |
| 2010-09-30 | 172.91% |
| 2010-06-30 | 136.13% |
| 2006-12-31 | 1.68% |
| 2006-09-30 | 1.42% |
| 2006-06-30 | 8.94% |
| 2006-03-31 | 11.15% |
| 2005-12-31 | 12.33% |
| 2005-09-30 | 15.25% |
| 2005-06-30 | 6.16% |
| 2005-03-31 | 2.92% |
| 2004-12-31 | 1.18% |
| 2004-09-30 | 1.10% |
| 2004-06-30 | 1.66% |
| 2004-03-31 | 1.72% |
