Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
The FCF payout ratio is 81.67% as of the fiscal period ended Tuesday, June 30, 2026.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
81.67%
FCF PAYOUT RATIO AVG TTM
83.34%
FCF PAYOUT RATIO AVG 3Y
87.68%
FCF PAYOUT RATIO AVG 5Y
87.10%
FCF PAYOUT RATIO AVG 10Y
70.71%
FCF PAYOUT RATIO AVG 15Y
63.38%
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-2.01%
CURRENT VS 3Y AVG
-6.85%
CURRENT VS 5Y AVG
-6.24%
CURRENT VS 10Y AVG
+15.50%
CURRENT VS 15Y AVG
+28.84%
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
81.7%
Earnings Payout Ratio
96.0%
Dividend Yield
3.97%
FCF Yield
4.83%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $3.78B | $3.16B | 83.4% |
| 2024 | $3.70B | $3.07B | 83.1% |
| 2023 | $2.92B | $2.95B | 100.9% |
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 | 81.67% |
| 2026-03-31 | 84.74% |
| 2025-12-31 | 83.44% |
| 2025-09-30 | 84.51% |
| 2025-06-30 | 82.34% |
| 2025-03-31 | 80.51% |
| 2024-12-31 | 83.09% |
| 2024-09-30 | 86.27% |
| 2024-06-30 | 88.91% |
| 2024-03-31 | 94.23% |
| 2023-12-31 | 100.85% |
| 2023-09-30 | 101.55% |
| 2023-06-30 | 117.30% |
| 2023-03-31 | 126.42% |
| 2022-12-31 | 144.32% |
| 2022-09-30 | 167.86% |
| 2022-06-30 | 86.92% |
| 2022-03-31 | 80.17% |
| 2021-12-31 | 65.96% |
| 2021-09-30 | 54.61% |
| 2021-06-30 | 71.41% |
| 2021-03-31 | 66.56% |
| 2020-12-31 | 67.66% |
| 2020-09-30 | 65.64% |
| 2020-06-30 | 63.65% |
| 2020-03-31 | 60.40% |
| 2019-12-31 | 58.05% |
| 2019-09-30 | 51.11% |
| 2019-06-30 | 50.70% |
| 2019-03-31 | 49.76% |
| 2018-12-31 | 47.35% |
| 2018-09-30 | 53.57% |
| 2018-06-30 | 53.85% |
| 2018-03-31 | 55.01% |
| 2017-12-31 | 54.87% |
| 2017-09-30 | 53.61% |
| 2017-06-30 | 50.63% |
| 2017-03-31 | 48.60% |
| 2016-12-31 | 49.14% |
| 2016-09-30 | 49.38% |
| 2016-06-30 | 53.16% |
| 2016-03-31 | 57.66% |
| 2015-12-31 | 54.70% |
| 2015-09-30 | 54.08% |
| 2015-06-30 | 51.14% |
| 2015-03-31 | 46.47% |
| 2014-12-31 | 36.26% |
| 2014-09-30 | 48.32% |
| 2014-06-30 | 46.99% |
| 2014-03-31 | 50.20% |
| 2013-12-31 | 49.71% |
| 2013-09-30 | 49.25% |
| 2013-06-30 | 46.16% |
| 2013-03-31 | 32.64% |
| 2012-12-31 | 32.22% |
| 2012-09-30 | 9.35% |
| 2022 |
| $1.82B |
| $2.63B |
| 144.3% |
| 2021 | $3.44B | $2.27B | 66.0% |
| 2020 | $2.85B | $1.93B | 67.7% |
| 2019 | $2.76B | $1.60B | 58.1% |
| 2018 | $2.84B | $1.34B | 47.3% |
| 2017 | $2.12B | $1.16B | 54.9% |
| 2016 | $2.02B | $993.24M | 49.1% |
| 2015 | $1.45B | $795.50M | 54.7% |
| 2014 | $1.16B | $420.64M | 36.3% |
| 2013 | $874.51M | $434.69M | 49.7% |
| 2012 | $846.34M | $355.57M | 42.0% |
| 2011 | $642.93M | $137.76M | 21.4% |
| 2010 | $674.31M | $0 | 0.0% |
| 2009 | $591.86M | $0 | 0.0% |
| 2008 | $529.77M | $0 | 0.0% |
| 2007 | $538.30M | $0 | 0.0% |
| 2006 | $493.64M | $0 | 0.0% |
| 2005 | $308.57M | $0 | 0.0% |
| 2004 | $174.52M | $0 | 0.0% |
| 2003 | $94.78M | $0 | 0.0% |
| 2002 | ($75.35M) | $0 | N/A (Loss) |
| 2001 | ($542.09M) | $0 | N/A (Loss) |
| 2000 | ($574.03M) | $0.67M | N/A (Loss) |
| 1999 | ($197.23M) | $0.40M | N/A (Loss) |
| 1998 | ($108.03M) | $0 | N/A (Loss) |
| 1997 | ($10.70M) | $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.
