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 977.32% is 292% above its 5-year average of 249.34%, near the high end of its 5-year range (119.83%–977.32%).
As of the fiscal period ended Sunday, March 31, 2019. 156.53% above its 12-month average of 380.98%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
977.32%
FCF PAYOUT RATIO AVG TTM
380.98%
FCF PAYOUT RATIO AVG 3Y
232.81%
FCF PAYOUT RATIO AVG 5Y
195.41%
FCF PAYOUT RATIO AVG 10Y
139.41%
FCF PAYOUT RATIO AVG 15Y
130.04%
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+156.53%
CURRENT VS 3Y AVG
+319.80%
CURRENT VS 5Y AVG
+400.13%
CURRENT VS 10Y AVG
+601.03%
CURRENT VS 15Y AVG
+651.57%
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
977.3%
Earnings Payout Ratio
55.9%
Dividend Yield
2.02%
FCF Yield
N/A
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | ($2.38B) | $574.00M | N/A (Loss) |
| 2024 | ($2.37B) | $522.00M | N/A (Loss) |
| 2023 | ($524.00M) | $535.00M | N/A (Loss) |
| 2022 | ($2.61B) | $489.00M | N/A (Loss) |
| 2021 | ($3.14B) | $492.00M | N/A (Loss) |
| 2020 | ($601.00M) | $529.00M | N/A (Loss) |
| 2019 | ($868.00M) | $695.00M | N/A (Loss) |
| 2018 | $485.00M | $908.00M | 187.2% |
| 2017 | ($5.00M) | $461.00M | N/A (Loss) |
| 2016 | $514.00M | $621.00M | 120.8% |
| 2015 | $281.00M | $458.00M | 163.0% |
| 2014 | $25.00M | $408.00M | n/m |
| 2013 | $327.00M | $355.00M | 108.6% |
| 2012 | $648.00M | $346.00M | 53.4% |
| 2011 | $585.00M | $337.00M | 57.6% |
| 2010 | ($123.00M) | $319.00M | N/A (Loss) |
| 2009 | $681.00M | $276.00M | 40.5% |
| 2008 | ($169.00M) | $246.00M | N/A (Loss) |
| 2007 | ($340.00M) | $218.00M | N/A (Loss) |
| 2006 | ($16.00M) | $187.00M | N/A (Loss) |
| 2005 | ($630.00M) | $124.00M | N/A (Loss) |
| 2004 | ($54.65M) | $123.00M | N/A (Loss) |
| 2003 | $285.68M | $122.21M | 42.8% |
| 2002 | ($545.97M) | $324.68M | N/A (Loss) |
| 2001 | ($340.32M) | $433.92M | N/A (Loss) |
| 2000 | ($496.76M) | $426.86M | N/A (Loss) |
| 1999 | ($17.80M) | $427.25M | N/A (Loss) |
| 1998 | $389.50M | $426.30M | 109.4% |
| 1997 | ($875.40M) | $153.60M | N/A (Loss) |
| 1996 | $101.40M | $361.10M | 356.1% |
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 |
|---|---|
| 2019-03-31 | 977.32% |
| 2018-12-31 | 184.95% |
| 2018-09-30 | 169.19% |
| 2018-06-30 | 135.28% |
| 2018-03-31 | 438.18% |
| 2017-09-30 | 313.01% |
| 2017-06-30 | 267.46% |
| 2017-03-31 | 285.84% |
| 2016-12-31 | 120.82% |
| 2016-09-30 | 206.35% |
| 2016-06-30 | 260.73% |
| 2016-03-31 | 179.07% |
| 2015-12-31 | 162.99% |
| 2015-09-30 | 158.39% |
| 2015-06-30 | 119.83% |
| 2015-03-31 | 152.03% |
| 2014-09-30 | 169.10% |
| 2014-06-30 | 181.43% |
| 2014-03-31 | 255.56% |
| 2013-12-31 | 108.56% |
| 2013-09-30 | 115.31% |
| 2013-06-30 | 78.17% |
| 2013-03-31 | 46.40% |
| 2012-12-31 | 53.40% |
| 2012-09-30 | 52.36% |
| 2012-06-30 | 70.66% |
| 2012-03-31 | 75.39% |
| 2011-12-31 | 57.61% |
| 2011-09-30 | 76.83% |
| 2011-06-30 | 114.83% |
| 2010-06-30 | 135.00% |
| 2010-03-31 | 41.90% |
| 2009-12-31 | 40.53% |
| 2009-09-30 | 72.21% |
| 2008-09-30 | 213.51% |
| 2008-06-30 | 66.18% |
| 2008-03-31 | 128.00% |
| 2004-09-30 | 38.67% |
| 2004-06-30 | 15.45% |
| 2004-03-31 | 18.44% |
| 2003-12-31 | 44.11% |
| 2003-06-30 | 431.20% |
