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 29.09% is 37% below its 5-year average of 45.89%, near the low end of its 5-year range (29.09%–67.20%).
As of the fiscal period ended Tuesday, June 30, 2026. 22.46% below its 12-month average of 37.52%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
29.09%
FCF PAYOUT RATIO AVG TTM
37.52%
FCF PAYOUT RATIO AVG 3Y
40.68%
FCF PAYOUT RATIO AVG 5Y
45.89%
FCF PAYOUT RATIO AVG 10Y
N/A
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-22.46%
CURRENT VS 3Y AVG
-28.49%
CURRENT VS 5Y AVG
-36.60%
CURRENT VS 10Y AVG
N/A
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
29.1%
Earnings Payout Ratio
35.1%
Dividend Yield
1.49%
FCF Yield
5.10%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $2.54B | $910.00M | 35.9% |
| 2024 | $2.05B | $836.00M | 40.7% |
| 2023 | $1.84B | $786.00M | 42.8% |
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 | 29.09% |
| 2026-03-31 | 39.66% |
| 2025-12-31 | 35.87% |
| 2025-09-30 | 42.65% |
| 2025-06-30 | 40.32% |
| 2025-03-31 | 42.50% |
| 2024-12-31 | 40.70% |
| 2024-09-30 | 46.18% |
| 2024-06-30 | 50.93% |
| 2024-03-31 | 37.61% |
| 2023-12-31 | 41.72% |
| 2023-09-30 | 39.49% |
| 2023-06-30 | 40.80% |
| 2023-03-31 | 52.61% |
| 2022-12-31 | 65.05% |
| 2022-09-30 | 62.74% |
| 2022-06-30 | 67.20% |
| 2022-03-31 | 54.68% |
| 2021-12-31 | 35.23% |
| 2021-09-30 | 43.20% |
| 2021-06-30 | 55.37% |
| 2021-03-31 | 68.53% |
| 2020-12-31 | 106.17% |
| 2020-09-30 | 35.41% |
| 2020-06-30 | 28.76% |
| 2020-03-31 | 22.79% |
| 2019-12-31 | 31.08% |
| 2019-09-30 | 48.30% |
| 2019-06-30 | 51.40% |
| 2019-03-31 | 143.72% |
| 2018-12-31 | 41.07% |
| 2017-06-30 | 230.53% |
| 2022 |
| $1.12B |
| $726.00M |
| 65.1% |
| 2021 | $1.83B | $592.00M | 32.3% |
| 2020 | $517.00M | $488.00M | 94.4% |
| 2019 | $1.15B | $395.00M | 34.3% |
| 2018 | $767.00M | $315.00M | 41.1% |
| 2017 | ($1.46B) | $155.00M | N/A (Loss) |
| 2016 | ($162.00M) | $0 | N/A (Loss) |
| 2015 | $670.00M | $297.00M | 44.3% |
| 2014 | $1.30B | $279.00M | 21.4% |
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.
