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 18.10% is 81% below its 5-year average of 93.80%, near the low end of its 5-year range (0.15%–773.08%).
As of the fiscal period ended Tuesday, March 31, 2026. 9.26% below its 12-month average of 19.95%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
18.10%
FCF PAYOUT RATIO AVG TTM
19.95%
FCF PAYOUT RATIO AVG 3Y
130.13%
FCF PAYOUT RATIO AVG 5Y
24.78%
FCF PAYOUT RATIO AVG 10Y
25.94%
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-9.26%
CURRENT VS 3Y AVG
-86.09%
CURRENT VS 5Y AVG
-26.96%
CURRENT VS 10Y AVG
-30.23%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
18.1%
Earnings Payout Ratio
24.4%
Dividend Yield
0.90%
FCF Yield
13.26%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $2.00B | $333.00M | 16.7% |
| 2024 | $782.00M | $607.00M | 77.6% |
| 2023 | ($288.00M) | $538.00M | N/A (Loss) |
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 | 18.10% |
| 2025-12-31 | 18.54% |
| 2025-09-30 | 13.27% |
| 2025-06-30 | 15.64% |
| 2025-03-31 | 34.18% |
| 2024-12-31 | 77.62% |
| 2024-09-30 | 90.60% |
| 2024-06-30 | 773.08% |
| 2022-06-30 | 242.77% |
| 2022-03-31 | 12.70% |
| 2021-12-31 | 6.83% |
| 2021-09-30 | 5.79% |
| 2021-06-30 | 3.93% |
| 2021-03-31 | 0.15% |
| 2020-12-31 | 0.22% |
| 2020-09-30 | 0.23% |
| 2020-06-30 | 0.73% |
| 2018-12-31 | 37.27% |
| 2018-09-30 | 40.81% |
| 2018-06-30 | 33.47% |
| 2018-03-31 | 43.52% |
| 2017-12-31 | 44.92% |
| 2016-09-30 | 30.91% |
| 2016-06-30 | 35.94% |
| 2016-03-31 | 31.28% |
| 2015-12-31 | 108.79% |
| 2015-09-30 | 59.84% |
| 2022 |
| ($442.00M) |
| $423.00M |
| N/A (Loss) |
| 2021 | $3.16B | $188.00M | 5.9% |
| 2020 | $4.68B | $8.00M | 0.2% |
| 2019 | ($136.00M) | $283.00M | N/A (Loss) |
| 2018 | $652.00M | $243.00M | 37.3% |
| 2017 | $630.00M | $168.00M | 26.7% |
| 2016 | $592.00M | $201.00M | 34.0% |
| 2015 | $279.00M | $297.00M | 106.5% |
| 2014 | ($2.15B) | $382.00M | N/A (Loss) |
| 2013 | ($1.14B) | $368.00M | N/A (Loss) |
| 2012 | ($1.39B) | $616.00M | N/A (Loss) |
| 2011 | $191.00M | $11.00M | 5.8% |
| 2010 | $736.00M | $0 | 0.0% |
| 2009 | $1.69B | $0 | 0.0% |
| 2008 | ($161.00M) | $118.00M | N/A (Loss) |
| 2007 | ($810.00M) | $59.00M | N/A (Loss) |
| 2006 | $216.00M | $59.00M | 27.3% |
| 2005 | $283.00M | $34.00M | 12.0% |
| 2004 | $709.00M | $33.00M | 4.7% |
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.
