Basis: Latest reported fiscal year. Source: stored company filings and market data; unavailable inputs remain N/A.
The FCF payout ratio is N/A as of the fiscal period ended Wednesday, December 31, 2025.
Reported annual FCF payout ratio; periods with losses or near-zero free cash flow are omitted. Historical series through 2025-12-31.
FCF PAYOUT RATIO
N/A
FCF PAYOUT RATIO AVG TTM
71.62%
FCF PAYOUT RATIO AVG 3Y
60.73%
FCF PAYOUT RATIO AVG 5Y
57.91%
FCF PAYOUT RATIO AVG 10Y
60.18%
FCF PAYOUT RATIO AVG 15Y
63.47%
FCF PAYOUT RATIO AVG 20Y
63.98%
CURRENT VS TTM AVG
N/A
CURRENT VS 3Y AVG
N/A
CURRENT VS 5Y AVG
N/A
CURRENT VS 10Y AVG
N/A
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
N/A
Earnings Payout Ratio
85.5%
Dividend Yield
6.28%
FCF Yield
N/A
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $7.79B | $6.89B | 88.5% |
| 2024 | $11.91B | $6.52B | 54.8% |
| 2023 | $13.05B | $6.51B | 49.9% |
| 2022 | $11.93B | $5.94B | 49.8% |
| 2021 | $12.44B | $6.64B | 53.4% |
| 2020 | $12.67B | $6.48B | 51.2% |
| 2019 | $11.04B | $6.09B | 55.2% |
| 2018 | $12.15B | $5.54B | 45.6% |
| 2017 | $6.15B | $4.68B | 76.1% |
| 2016 | $4.96B | $3.59B | 72.3% |
| 2015 | $6.24B | $4.08B | 65.4% |
| 2014 | $4.96B | $4.22B | 85.1% |
| 2013 | $6.40B | $4.33B | 67.6% |
| 2012 | $6.12B | $4.13B | 67.4% |
| 2011 | $5.16B | $3.67B | 71.0% |
| 2010 | $5.23B | $3.26B | 62.4% |
| 2009 | $4.24B | $2.91B | 68.6% |
| 2008 | $4.15B | $2.03B | 48.8% |
| 2007 | $3.53B | $2.38B | 67.3% |
| 2006 | $2.84B | $2.25B | 79.0% |
| 2005 | $2.79B | $1.79B | 64.3% |
| 2004 | $1.93B | $1.64B | 85.2% |
| 2003 | $1.39B | $1.38B | 99.2% |
| 2002 | $768.02M | $1.14M | 0.1% |
| 2001 | $1.05B | $0 | 0.0% |
| 2000 | $1.07B | $0 | 0.0% |
| 1999 | $1.33B | $0 | 0.0% |
| 1998 | ($329.35M) | $0 | N/A (Loss) |
| 1997 | ($21.48M) | $0 | N/A (Loss) |
| 1996 | $196.95M | $0 | 0.0% |
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 |
|---|---|
| 2025-12-31 | 88.47% |
| 2024-12-31 | 54.78% |
| 2023-12-31 | 49.87% |
| 2022-12-31 | 49.79% |
| 2021-12-31 | 53.36% |
| 2020-12-31 | 51.16% |
| 2019-12-31 | 55.18% |
| 2018-12-31 | 45.58% |
| 2017-12-31 | 76.05% |
| 2016-12-31 | 72.32% |
| 2015-12-31 | 65.38% |
| 2014-12-31 | 85.10% |
| 2013-12-31 | 67.61% |
| 2012-12-31 | 67.45% |
| 2011-12-31 | 71.00% |
| 2010-12-31 | 62.38% |
| 2009-12-31 | 68.60% |
| 2008-12-31 | 48.77% |
| 2007-12-31 | 67.30% |
| 2006-12-31 | 78.99% |
| 2005-12-31 | 64.34% |
| 2004-12-31 | 85.17% |
| 2003-12-31 | 99.23% |
| 2002-12-31 | 0.15% |
