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 13.43% is 22% above its 5-year average of 11.03%, near the high end of its 5-year range (0.49%–14.87%).
As of the fiscal period ended Tuesday, June 30, 2026. 2.89% below its 12-month average of 13.83%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
13.43%
FCF PAYOUT RATIO AVG TTM
13.83%
FCF PAYOUT RATIO AVG 3Y
12.08%
FCF PAYOUT RATIO AVG 5Y
11.03%
FCF PAYOUT RATIO AVG 10Y
10.14%
FCF PAYOUT RATIO AVG 15Y
7.08%
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-2.89%
CURRENT VS 3Y AVG
+11.14%
CURRENT VS 5Y AVG
+21.76%
CURRENT VS 10Y AVG
+32.45%
CURRENT VS 15Y AVG
+89.61%
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
13.4%
Earnings Payout Ratio
17.8%
Dividend Yield
0.83%
FCF Yield
6.41%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $9.09B | $1.25B | 13.7% |
| 2024 | $7.89B | $1.17B | 14.9% |
| 2023 | $7.00B | $0 | 0.0% |
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 | 13.43% |
| 2026-03-31 | 14.08% |
| 2025-12-31 | 13.73% |
| 2025-09-30 | 14.79% |
| 2025-06-30 | 13.11% |
| 2025-03-31 | 14.08% |
| 2024-12-31 | 14.87% |
| 2024-09-30 | 10.41% |
| 2024-06-30 | 7.91% |
| 2024-03-31 | 4.42% |
| 2021-06-30 | 0.49% |
| 2020-09-30 | 0.35% |
| 2012-09-30 | 0.26% |
| 2012-06-30 | 0.29% |
| 2012-03-31 | 0.33% |
| 2011-12-31 | 0.31% |
| 2011-09-30 | 2.05% |
| 2011-06-30 | 2.58% |
| 2011-03-31 | 2.67% |
| 2010-12-31 | 3.26% |
| 2010-09-30 | 1.30% |
| 2010-06-30 | 1.53% |
| 2010-03-31 | 1.80% |
| 2009-12-31 | 1.90% |
| 2022 |
| $6.19B |
| $0 |
| 0.0% |
| 2021 | $2.52B | $0 | 0.0% |
| 2020 | ($201.00M) | $0 | N/A (Loss) |
| 2019 | $4.50B | $0 | 0.0% |
| 2018 | $4.90B | $0 | 0.0% |
| 2017 | $4.37B | $0 | 0.0% |
| 2016 | $3.66B | $0 | 0.0% |
| 2015 | $2.93B | $0 | 0.0% |
| 2014 | $2.78B | $0 | 0.0% |
| 2013 | $2.22B | $0 | 0.0% |
| 2012 | $1.73B | $0 | 0.0% |
| 2011 | $1.29B | $0 | 0.0% |
| 2010 | $754.70M | $0 | 0.0% |
| 2009 | $494.56M | $0 | 0.0% |
| 2008 | $297.23M | $0 | 0.0% |
| 2007 | $140.07M | $0 | 0.0% |
| 2006 | $99.23M | $0 | 0.0% |
| 2005 | $51.61M | $0 | 0.0% |
| 2004 | $35.07M | $0 | 0.0% |
| 2003 | $13.45M | $0 | 0.0% |
| 2002 | ($8.31M) | $0 | N/A (Loss) |
| 2001 | $18.68M | $0 | 0.0% |
| 2000 | ($57.04M) | $0 | N/A (Loss) |
| 1999 | ($90.40M) | $0 | N/A (Loss) |
| 1998 | ($47.50M) | $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.
