Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
The FCF payout ratio is 66.39% as of the fiscal period ended Tuesday, March 31, 2026.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
66.39%
FCF PAYOUT RATIO AVG TTM
67.06%
FCF PAYOUT RATIO AVG 3Y
67.68%
FCF PAYOUT RATIO AVG 5Y
72.63%
FCF PAYOUT RATIO AVG 10Y
69.97%
FCF PAYOUT RATIO AVG 15Y
68.37%
FCF PAYOUT RATIO AVG 20Y
67.81%
CURRENT VS TTM AVG
-1.00%
CURRENT VS 3Y AVG
-1.91%
CURRENT VS 5Y AVG
-8.60%
CURRENT VS 10Y AVG
-5.12%
CURRENT VS 15Y AVG
-2.89%
CURRENT VS 20Y AVG
-2.10%
FCF Payout Ratio TTM
66.4%
Earnings Payout Ratio
95.4%
Dividend Yield
3.72%
FCF Yield
5.63%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $1.41B | $992.33M | 70.2% |
| 2024 | $1.41B | $961.91M | 68.2% |
| 2023 | $1.36B | $922.66M | 67.7% |
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 |
|---|---|
| 2026-03-31 | 66.39% |
| 2025-12-31 | 65.65% |
| 2025-09-30 | 63.84% |
| 2025-06-30 | 70.38% |
| 2025-03-31 | 69.04% |
| 2024-12-31 | 68.23% |
| 2024-09-30 | 67.12% |
| 2024-06-30 | 67.25% |
| 2024-03-31 | 68.07% |
| 2023-12-31 | 67.70% |
| 2023-09-30 | 66.51% |
| 2023-06-30 | 67.17% |
| 2023-03-31 | 68.62% |
| 2022-12-31 | 71.34% |
| 2022-09-30 | 73.80% |
| 2022-06-30 | 80.04% |
| 2022-03-31 | 83.72% |
| 2021-12-31 | 84.64% |
| 2021-09-30 | 86.85% |
| 2021-06-30 | 86.58% |
| 2021-03-31 | 82.31% |
| 2020-12-31 | 81.61% |
| 2020-09-30 | 77.75% |
| 2020-06-30 | 74.47% |
| 2020-03-31 | 74.75% |
| 2019-12-31 | 71.14% |
| 2019-09-30 | 68.51% |
| 2019-06-30 | 67.69% |
| 2019-03-31 | 64.68% |
| 2018-12-31 | 66.32% |
| 2018-09-30 | 64.84% |
| 2018-06-30 | 64.07% |
| 2018-03-31 | 65.42% |
| 2017-12-31 | 65.39% |
| 2017-09-30 | 67.00% |
| 2017-06-30 | 69.13% |
| 2017-03-31 | 67.96% |
| 2016-12-31 | 67.92% |
| 2016-09-30 | 67.58% |
| 2016-06-30 | 64.97% |
| 2016-03-31 | 65.67% |
| 2015-12-31 | 66.18% |
| 2015-09-30 | 65.71% |
| 2015-06-30 | 70.07% |
| 2015-03-31 | 70.40% |
| 2014-12-31 | 71.20% |
| 2014-09-30 | 68.28% |
| 2014-06-30 | 69.03% |
| 2014-03-31 | 67.75% |
| 2013-12-31 | 75.43% |
| 2013-09-30 | 36.96% |
| 2013-06-30 | 45.31% |
| 2013-03-31 | 58.65% |
| 2012-12-31 | 67.66% |
| 2008-09-30 | 19.06% |
| 2008-06-30 | 25.25% |
| 2008-03-31 | 60.79% |
| 2007-12-31 | 59.46% |
| 2022 |
| $1.25B |
| $889.61M |
| 71.3% |
| 2021 | $1.05B | $888.34M | 84.6% |
| 2020 | $1.08B | $883.21M | 81.6% |
| 2019 | $1.18B | $839.65M | 71.1% |
| 2018 | $1.21B | $805.24M | 66.3% |
| 2017 | $1.18B | $773.12M | 65.4% |
| 2016 | $1.07B | $727.20M | 67.9% |
| 2015 | $1.00B | $655.66M | 65.5% |
| 2014 | $833.82M | $593.64M | 71.2% |
| 2013 | $697.89M | $526.40M | 75.4% |
| 2012 | $514.29M | $365.90M | 71.1% |
| 2011 | ($259.18M) | $318.43M | N/A (Loss) |
| 2010 | ($130.13M) | $298.31M | N/A (Loss) |
| 2009 | ($208.24M) | $283.77M | N/A (Loss) |
| 2008 | ($515.47M) | $279.19M | N/A (Loss) |
| 2007 | ($685.88M) | $271.04M | N/A (Loss) |
| 2006 | ($480.39M) | $234.96M | N/A (Loss) |
| 2005 | ($593.02M) | $215.39M | N/A (Loss) |
| 2004 | ($706.52M) | $209.09M | N/A (Loss) |
| 2003 | ($487.09M) | $202.42M | N/A (Loss) |
| 2002 | ($770.22M) | $207.45M | N/A (Loss) |
| 2001 | ($175.88M) | $203.21M | N/A (Loss) |
| 2000 | ($137.59M) | $185.51M | N/A (Loss) |
| 1999 | ($266.19M) | $175.76M | N/A (Loss) |
| 1998 | ($527.11M) | $114.39M | N/A (Loss) |
| 1997 | ($1.09B) | $42.80M | N/A (Loss) |
| 1996 | ($249.20M) | $26.05M | 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.
