Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
The FCF payout ratio is 127.61% 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
127.61%
FCF PAYOUT RATIO AVG TTM
103.07%
FCF PAYOUT RATIO AVG 3Y
84.16%
FCF PAYOUT RATIO AVG 5Y
79.32%
FCF PAYOUT RATIO AVG 10Y
71.53%
FCF PAYOUT RATIO AVG 15Y
73.29%
FCF PAYOUT RATIO AVG 20Y
80.79%
CURRENT VS TTM AVG
+23.81%
CURRENT VS 3Y AVG
+51.63%
CURRENT VS 5Y AVG
+60.88%
CURRENT VS 10Y AVG
+78.41%
CURRENT VS 15Y AVG
+74.11%
CURRENT VS 20Y AVG
+57.96%
FCF Payout Ratio TTM
127.6%
Earnings Payout Ratio
160.0%
Dividend Yield
4.02%
FCF Yield
4.21%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $689.66M | $643.11M | 93.2% |
| 2024 | $786.52M | $689.87M | 87.7% |
| 2023 | $819.17M | $687.81M | 84.0% |
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 |
|---|---|
| 2026-03-31 | 127.61% |
| 2025-12-31 | 93.25% |
| 2025-09-30 | 105.59% |
| 2025-06-30 | 98.69% |
| 2025-03-31 | 90.23% |
| 2024-12-31 | 87.78% |
| 2024-09-30 | 84.20% |
| 2024-06-30 | 69.31% |
| 2024-03-31 | 68.95% |
| 2023-12-31 | 61.40% |
| 2023-09-30 | 63.68% |
| 2023-06-30 | 73.48% |
| 2023-03-31 | 69.92% |
| 2022-12-31 | 77.46% |
| 2022-09-30 | 69.07% |
| 2022-06-30 | 74.41% |
| 2022-03-31 | 75.35% |
| 2021-12-31 | 74.31% |
| 2021-09-30 | 92.16% |
| 2021-06-30 | 81.79% |
| 2021-03-31 | 75.39% |
| 2020-12-31 | 73.53% |
| 2020-09-30 | 59.73% |
| 2020-06-30 | 57.92% |
| 2020-03-31 | 58.47% |
| 2019-12-31 | 56.41% |
| 2019-09-30 | 55.53% |
| 2019-06-30 | 55.40% |
| 2019-03-31 | 54.23% |
| 2018-12-31 | 51.09% |
| 2018-09-30 | 50.95% |
| 2018-06-30 | 49.64% |
| 2018-03-31 | 60.37% |
| 2017-12-31 | 58.03% |
| 2017-09-30 | 79.83% |
| 2017-06-30 | 85.24% |
| 2017-03-31 | 69.13% |
| 2016-12-31 | 85.12% |
| 2016-09-30 | 71.86% |
| 2016-06-30 | 71.37% |
| 2016-03-31 | 70.87% |
| 2015-12-31 | 153.39% |
| 2015-09-30 | 146.87% |
| 2015-06-30 | 147.71% |
| 2015-03-31 | 158.86% |
| 2014-12-31 | 120.81% |
| 2014-09-30 | 120.48% |
| 2014-06-30 | 111.73% |
| 2014-03-31 | 125.85% |
| 2013-12-31 | 57.99% |
| 2013-09-30 | 25.32% |
| 2013-06-30 | 28.50% |
| 2013-03-31 | 27.29% |
| 2012-12-31 | 58.00% |
| 2011-12-31 | 207.44% |
| 2010-03-31 | 351.86% |
| 2009-12-31 | 204.73% |
| 2009-09-30 | 171.73% |
| 2009-06-30 | 450.64% |
| 2006-03-31 | 940.63% |
| 2005-12-31 | 907.18% |
| 2005-09-30 | 289.43% |
| 2005-06-30 | 239.50% |
| 2005-03-31 | 230.49% |
| 2004-12-31 | 225.80% |
| 2004-09-30 | 703.30% |
| 2004-03-31 | 958.71% |
| 2003-12-31 | 475.46% |
| 2003-09-30 | 196.28% |
| 2022 |
| $884.31M |
| $685.02M |
| 77.5% |
| 2021 | $1.12B | $683.75M | 61.1% |
| 2020 | $1.15B | $688.90M | 59.7% |
| 2019 | $748.78M | $666.29M | 89.0% |
| 2018 | $750.44M | $587.63M | 78.3% |
| 2017 | $479.63M | $526.58M | 109.8% |
| 2016 | $224.44M | $671.63M | 299.2% |
| 2015 | $799.41M | $1.23B | 153.4% |
| 2014 | $695.55M | $840.26M | 120.8% |
| 2013 | $777.93M | $451.12M | 58.0% |
| 2012 | $642.95M | $372.90M | 58.0% |
| 2011 | $160.33M | $332.60M | 207.4% |
| 2010 | ($484.63M) | $328.05M | N/A (Loss) |
| 2009 | $174.53M | $357.33M | 204.7% |
| 2008 | ($15.07M) | $1.24B | N/A (Loss) |
| 2007 | ($503.22M) | $1.14B | N/A (Loss) |
| 2006 | ($114.05M) | $391.61M | N/A (Loss) |
| 2005 | $77.49M | $702.99M | 907.2% |
| 2004 | $151.82M | $342.81M | 225.8% |
| 2003 | $66.00M | $313.81M | 475.5% |
| 2002 | ($994.92M) | $297.33M | N/A (Loss) |
| 2001 | ($903.16M) | $276.54M | N/A (Loss) |
| 2000 | ($264.50M) | $209.72M | N/A (Loss) |
| 1999 | ($360.48M) | $181.49M | N/A (Loss) |
| 1998 | ($1.48B) | $127.31M | N/A (Loss) |
| 1997 | ($495.54M) | $17.03M | 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.
