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 26.94% is 44% above its 5-year average of 18.78%, near the high end of its 5-year range (12.84%–27.38%).
As of the fiscal period ended Sunday, July 26, 2026. 8.00% above its 12-month average of 24.95%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted. Q3 FY2026 (2026-07-26): 26.94%.
FCF PAYOUT RATIO
26.94%
FCF PAYOUT RATIO AVG TTM
24.95%
FCF PAYOUT RATIO AVG 3Y
19.73%
FCF PAYOUT RATIO AVG 5Y
18.78%
FCF PAYOUT RATIO AVG 10Y
19.62%
FCF PAYOUT RATIO AVG 15Y
21.67%
FCF PAYOUT RATIO AVG 20Y
21.67%
CURRENT VS TTM AVG
+8.00%
CURRENT VS 3Y AVG
+36.58%
CURRENT VS 5Y AVG
+43.50%
CURRENT VS 10Y AVG
+37.29%
CURRENT VS 15Y AVG
+24.34%
CURRENT VS 20Y AVG
+24.32%
FCF Payout Ratio TTM
26.9%
Earnings Payout Ratio
21.0%
Dividend Yield
0.54%
FCF Yield
1.56%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $5.70B | $1.38B | 24.3% |
| 2024 | $7.49B | $1.19B | 15.9% |
| 2023 | $7.59B | $975.00M | 12.8% |
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 |
|---|---|
| 2026-07-26 | 26.94% |
| 2026-04-26 | 27.38% |
| 2026-01-25 | 22.97% |
| 2025-10-26 | 24.29% |
| 2025-07-27 | 23.15% |
| 2025-04-27 | 22.37% |
| 2025-01-26 | 21.10% |
| 2024-10-27 | 15.92% |
| 2024-07-28 | 17.23% |
| 2024-04-28 | 15.69% |
| 2024-01-28 | 13.25% |
| 2023-10-29 | 12.84% |
| 2023-07-30 | 13.32% |
| 2023-04-30 | 15.00% |
| 2023-01-29 | 21.54% |
| 2022-10-30 | 18.93% |
| 2022-07-31 | 17.60% |
| 2022-05-01 | 16.51% |
| 2022-01-30 | 14.21% |
| 2021-10-31 | 17.55% |
| 2021-08-01 | 16.49% |
| 2021-05-02 | 19.09% |
| 2021-01-31 | 20.96% |
| 2020-10-25 | 23.27% |
| 2020-07-26 | 26.40% |
| 2020-04-26 | 26.98% |
| 2020-01-26 | 25.79% |
| 2019-10-27 | 27.48% |
| 2019-07-28 | 25.83% |
| 2019-04-28 | 27.73% |
| 2019-01-27 | 26.55% |
| 2018-10-28 | 19.12% |
| 2018-07-29 | 18.28% |
| 2018-04-29 | 11.76% |
| 2018-01-28 | 10.85% |
| 2017-10-29 | 13.17% |
| 2017-07-30 | 12.68% |
| 2017-04-30 | 14.20% |
| 2017-01-29 | 16.45% |
| 2016-10-30 | 20.06% |
| 2016-07-31 | 23.67% |
| 2016-05-01 | 36.89% |
| 2016-01-31 | 44.69% |
| 2015-10-25 | 51.48% |
| 2015-07-26 | 56.19% |
| 2015-04-26 | 44.04% |
| 2015-01-25 | 39.09% |
| 2014-10-26 | 31.11% |
| 2014-07-27 | 41.04% |
| 2014-04-27 | 49.08% |
| 2014-01-26 | 59.77% |
| 2013-10-27 | 107.04% |
| 2013-07-28 | 53.60% |
| 2013-04-28 | 39.43% |
| 2013-01-27 | 28.97% |
| 2012-10-28 | 25.70% |
| 2012-07-29 | 22.07% |
| 2012-04-29 | 22.32% |
| 2012-01-29 | 20.82% |
| 2011-10-30 | 17.91% |
| 2011-07-31 | 18.47% |
| 2011-05-01 | 20.74% |
| 2011-01-30 | 21.96% |
| 2010-10-31 | 22.32% |
| 2010-08-01 | 26.77% |
| 2010-05-02 | 28.61% |
| 2010-01-31 | 48.39% |
| 2009-10-25 | 379.29% |
| 2009-04-26 | 475.27% |
| 2009-01-25 | 37.96% |
| 2008-10-26 | 22.87% |
| 2008-07-27 | 16.50% |
| 2008-04-27 | 14.32% |
| 2008-01-27 | 16.47% |
| 2007-10-28 | 15.72% |
| 2007-07-29 | 15.53% |
| 2007-04-29 | 17.47% |
| 2007-01-28 | 15.86% |
| 2006-10-29 | 14.28% |
| 2006-07-30 | 17.25% |
| 2006-04-30 | 11.60% |
| 2006-01-29 | 8.04% |
| 2005-10-30 | 4.65% |
| 2022 |
| $4.61B |
| $873.00M |
| 18.9% |
| 2021 | $4.77B | $838.00M | 17.6% |
| 2020 | $3.38B | $787.00M | 23.3% |
| 2019 | $2.81B | $771.00M | 27.5% |
| 2018 | $3.17B | $605.00M | 19.1% |
| 2017 | $3.26B | $430.00M | 13.2% |
| 2016 | $2.21B | $444.00M | 20.1% |
| 2015 | $948.00M | $487.00M | 51.4% |
| 2014 | $1.56B | $485.00M | 31.1% |
| 2013 | $426.00M | $456.00M | 107.0% |
| 2012 | $1.69B | $434.00M | 25.7% |
| 2011 | $2.22B | $397.00M | 17.9% |
| 2010 | $1.55B | $348.52M | 22.4% |
| 2009 | $84.95M | $319.51M | 376.1% |
| 2008 | $1.42B | $325.40M | 22.9% |
| 2007 | $1.94B | $305.67M | 15.7% |
| 2006 | $1.76B | $250.78M | 14.3% |
| 2005 | $1.05B | $98.04M | 9.4% |
| 2004 | $1.44B | $0 | 0.0% |
| 2003 | $536.47M | $0 | 0.0% |
| 2002 | $75.06M | $0 | 0.0% |
| 2001 | $869.68M | $0 | 0.0% |
| 2000 | $1.27B | $0 | 0.0% |
| 1999 | $729.30M | $0 | 0.0% |
| 1998 | $367.80M | $0 | 0.0% |
| 1997 | $362.30M | $0 | 0.0% |
| 1996 | $239.50M | $0 | 0.0% |
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.
