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 45.42% is 24% below its 5-year average of 59.42%, near the low end of its 5-year range (27.36%–118.67%).
As of the fiscal period ended Saturday, August 1, 2026. 16.36% below its 12-month average of 54.30%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
45.42%
FCF PAYOUT RATIO AVG TTM
54.30%
FCF PAYOUT RATIO AVG 3Y
57.63%
FCF PAYOUT RATIO AVG 5Y
59.42%
FCF PAYOUT RATIO AVG 10Y
43.13%
FCF PAYOUT RATIO AVG 15Y
39.08%
FCF PAYOUT RATIO AVG 20Y
34.49%
CURRENT VS TTM AVG
-16.36%
CURRENT VS 3Y AVG
-21.19%
CURRENT VS 5Y AVG
-23.56%
CURRENT VS 10Y AVG
+5.31%
CURRENT VS 15Y AVG
+16.22%
CURRENT VS 20Y AVG
+31.70%
FCF Payout Ratio TTM
45.4%
Earnings Payout Ratio
63.6%
Dividend Yield
4.23%
FCF Yield
9.21%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $1.26B | $801.00M | 63.7% |
| 2025 | $1.39B | $807.00M | 58.0% |
| 2024 | $675.00M | $801.00M | 118.7% |
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 |
|---|---|
| 2026-08-01 | 45.42% |
| 2026-05-02 | 49.91% |
| 2026-01-31 | 63.67% |
| 2025-11-01 | 52.97% |
| 2025-08-02 | 59.54% |
| 2025-05-03 | 64.25% |
| 2025-02-01 | 57.97% |
| 2024-11-02 | 78.16% |
| 2024-08-03 | 58.64% |
| 2024-05-04 | 65.98% |
| 2024-02-03 | 118.67% |
| 2023-10-28 | 57.92% |
| 2023-07-29 | 43.39% |
| 2023-04-29 | 40.45% |
| 2023-01-28 | 88.26% |
| 2022-10-29 | 63.52% |
| 2022-07-30 | 89.20% |
| 2022-04-30 | 73.25% |
| 2022-01-29 | 27.36% |
| 2021-10-30 | 49.04% |
| 2021-07-31 | 48.51% |
| 2021-05-01 | 17.16% |
| 2021-01-30 | 13.48% |
| 2020-10-31 | 11.46% |
| 2020-08-01 | 10.82% |
| 2020-05-02 | 20.06% |
| 2020-02-01 | 28.92% |
| 2019-11-02 | 35.74% |
| 2019-08-03 | 46.62% |
| 2019-05-04 | 36.58% |
| 2019-02-02 | 31.28% |
| 2018-11-03 | 38.71% |
| 2018-08-04 | 25.36% |
| 2018-05-05 | 31.17% |
| 2018-02-03 | 28.15% |
| 2017-10-28 | 23.05% |
| 2017-07-29 | 28.58% |
| 2017-04-29 | 21.81% |
| 2017-01-28 | 25.73% |
| 2016-10-29 | 29.95% |
| 2016-07-30 | 29.10% |
| 2016-04-30 | 41.25% |
| 2016-01-30 | 74.15% |
| 2015-10-31 | 48.94% |
| 2015-08-01 | 40.86% |
| 2015-05-02 | 43.43% |
| 2015-01-31 | 18.27% |
| 2014-11-01 | 24.55% |
| 2014-08-02 | 22.21% |
| 2014-05-03 | 25.35% |
| 2014-02-01 | 42.60% |
| 2013-11-02 | 18.29% |
| 2013-08-03 | 23.12% |
| 2013-05-04 | 74.76% |
| 2013-02-02 | 29.51% |
| 2012-08-04 | 25.72% |
| 2012-05-05 | 10.28% |
| 2012-03-03 | 9.02% |
| 2011-11-26 | 9.46% |
| 2011-08-27 | 12.79% |
| 2011-05-28 | 15.20% |
| 2011-02-26 | 53.14% |
| 2010-11-27 | 16.96% |
| 2010-08-28 | 16.73% |
| 2010-05-29 | 12.79% |
| 2010-02-27 | 14.71% |
| 2009-11-28 | 13.01% |
| 2009-08-29 | 24.42% |
| 2009-05-30 | 36.85% |
| 2009-02-28 | 38.85% |
| 2008-08-30 | 21.35% |
| 2008-05-31 | 13.51% |
| 2008-03-01 | 16.61% |
| 2007-12-01 | 10.08% |
| 2007-09-01 | 16.97% |
| 2007-06-02 | 14.16% |
| 2007-03-03 | 16.91% |
| 2006-11-25 | 18.85% |
| 2006-08-26 | 13.07% |
| 2006-05-27 | 22.05% |
| 2006-02-25 | 14.42% |
| 2005-11-26 | 18.60% |
| 2005-08-27 | 14.89% |
| 2005-05-28 | 10.93% |
| 2005-02-26 | 10.23% |
| 2004-11-27 | 7.23% |
| 2004-08-28 | 7.08% |
| 2004-05-29 | 4.26% |
| 2023 |
| $894.00M |
| $789.00M |
| 88.3% |
| 2022 | $2.52B | $688.00M | 27.4% |
| 2021 | $4.21B | $568.00M | 13.5% |
| 2020 | $1.82B | $527.00M | 28.9% |
| 2019 | $1.59B | $497.00M | 31.3% |
| 2018 | $1.45B | $409.00M | 28.1% |
| 2017 | $1.96B | $505.00M | 25.7% |
| 2016 | $673.00M | $499.00M | 74.1% |
| 2015 | $1.37B | $251.00M | 18.3% |
| 2014 | $547.00M | $233.00M | 42.6% |
| 2013 | $817.09M | $241.09M | 29.5% |
| 2012 | $2.53B | $228.00M | 9.0% |
| 2011 | $446.00M | $237.00M | 53.1% |
| 2010 | $1.59B | $234.00M | 14.7% |
| 2009 | $574.00M | $223.00M | 38.9% |
| 2008 | $1.23B | $204.00M | 16.6% |
| 2007 | $1.03B | $174.00M | 16.9% |
| 2006 | $1.05B | $151.00M | 14.4% |
| 2005 | $1.34B | $137.00M | 10.2% |
| 2004 | $816.00M | $130.00M | 15.9% |
| 2003 | ($58.00M) | $0 | N/A (Loss) |
| 2002 | $951.00M | $0 | 0.0% |
| 2001 | $150.50M | $0 | 0.0% |
| 2000 | $399.20M | $0 | 0.0% |
| 1999 | $496.70M | $0 | 0.0% |
| 1998 | $470.30M | $0 | 0.0% |
| 1997 | ($108.00M) | $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.
