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 72.73% is in line with its 5-year average of 66.24%, around the middle of its 5-year range (18.39%–158.16%).
As of the fiscal period ended Tuesday, June 30, 2026. 25.05% above its 12-month average of 58.16%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
72.73%
FCF PAYOUT RATIO AVG TTM
58.16%
FCF PAYOUT RATIO AVG 3Y
75.64%
FCF PAYOUT RATIO AVG 5Y
66.24%
FCF PAYOUT RATIO AVG 10Y
32.51%
FCF PAYOUT RATIO AVG 15Y
29.95%
FCF PAYOUT RATIO AVG 20Y
29.95%
CURRENT VS TTM AVG
+25.05%
CURRENT VS 3Y AVG
-3.84%
CURRENT VS 5Y AVG
+9.81%
CURRENT VS 10Y AVG
+123.75%
CURRENT VS 15Y AVG
+142.83%
CURRENT VS 20Y AVG
+142.83%
FCF Payout Ratio TTM
72.7%
Earnings Payout Ratio
87.1%
Dividend Yield
4.02%
FCF Yield
7.37%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $3.10B | $1.87B | 60.3% |
| 2024 | $878.00M | $244.00M | 27.8% |
| 2023 | ($61.00M) | $107.00M | N/A (Loss) |
| 2022 | $257.00M | $203.00M | 79.0% |
| 2021 | $196.00M | $240.00M | 122.4% |
| 2020 | $862.00M | $38.00M | 4.4% |
| 2019 | $224.00M | $27.00M | 12.1% |
| 2018 | $282.00M | $24.00M | 8.5% |
| 2017 | $322.00M | $39.00M | 12.1% |
| 2016 | $475.00M | $15.00M | 3.2% |
| 2015 | $475.00M | $5.00M | 1.1% |
| 2014 | $376.00M | $17.00M | 4.5% |
| 2013 | ($122.00M) | $39.00M | N/A (Loss) |
| 2012 | $32.00M | $214.00M | 668.8% |
| 2011 | $1.14B | $159.39M | 13.9% |
| 2010 | ($1.92B) | $117.00M | N/A (Loss) |
| 2009 | ($660.46M) | $64.22M | N/A (Loss) |
| 2008 | ($12.97B) | $455.00M | N/A (Loss) |
| 2007 | ($494.00M) | $144.00M | N/A (Loss) |
| 2006 | ($41.00M) | $132.00M | N/A (Loss) |
| 2005 | ($363.00M) | $169.00M | N/A (Loss) |
| 2004 | ($93.00M) | $198.00M | N/A (Loss) |
| 2003 | $90.00M | $314.00M | 348.9% |
| 2002 | $323.00M | $260.00M | 80.5% |
| 2001 | $35.00M | $0 | 0.0% |
| 2000 | ($191.00M) | $0 | N/A (Loss) |
| 1999 | $35.00M | $0 | 0.0% |
| 1998 | ($18.50M) | $0 | N/A (Loss) |
| 1997 | $43.20M | $75.00M | 173.6% |
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 | 72.73% |
| 2026-03-31 | 62.16% |
| 2025-12-31 | 60.20% |
| 2025-09-30 | 50.36% |
| 2025-06-30 | 45.36% |
| 2025-03-31 | 51.73% |
| 2024-12-31 | 27.79% |
| 2024-09-30 | 33.82% |
| 2024-06-30 | 154.55% |
| 2023-12-31 | 158.16% |
| 2023-06-30 | 115.13% |
| 2022-12-31 | 97.79% |
| 2022-06-30 | 22.49% |
| 2021-12-31 | 22.91% |
| 2021-06-30 | 18.39% |
| 2020-12-31 | 2.71% |
| 2020-06-30 | 3.93% |
| 2019-12-31 | 8.23% |
| 2019-06-30 | 8.54% |
| 2018-12-31 | 14.03% |
| 2018-06-30 | 13.24% |
| 2017-12-31 | 6.03% |
| 2017-06-30 | 8.02% |
| 2016-12-31 | 0.33% |
| 2016-06-30 | 1.75% |
| 2015-12-31 | 2.06% |
| 2015-06-30 | 3.82% |
| 2014-12-31 | 17.68% |
| 2013-06-30 | 43.77% |
| 2012-12-31 | 23.69% |
| 2004-06-30 | 119.78% |
| 2003-12-31 | 76.03% |
| 2003-06-30 | 38.44% |
