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 26.20% is 56% below its 5-year average of 59.04%, near the low end of its 5-year range (18.55%–172.54%).
As of the fiscal period ended Sunday, May 10, 2026. 0.09% below its 12-month average of 26.22%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
26.20%
FCF PAYOUT RATIO AVG TTM
26.22%
FCF PAYOUT RATIO AVG 3Y
63.73%
FCF PAYOUT RATIO AVG 5Y
59.04%
FCF PAYOUT RATIO AVG 10Y
59.87%
FCF PAYOUT RATIO AVG 15Y
69.05%
FCF PAYOUT RATIO AVG 20Y
53.46%
CURRENT VS TTM AVG
-0.09%
CURRENT VS 3Y AVG
-58.89%
CURRENT VS 5Y AVG
-55.62%
CURRENT VS 10Y AVG
-56.25%
CURRENT VS 15Y AVG
-62.06%
CURRENT VS 20Y AVG
-50.99%
FCF Payout Ratio TTM
26.2%
Earnings Payout Ratio
27.9%
Dividend Yield
0.60%
FCF Yield
2.16%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $7.84B | $2.18B | 27.9% |
| 2024 | $6.63B | $9.04B | 136.4% |
| 2023 | $6.75B | $1.25B | 18.5% |
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 |
|---|---|
| 2026-05-10 | 26.20% |
| 2026-02-15 | 31.01% |
| 2025-11-23 | 24.94% |
| 2025-08-31 | 27.86% |
| 2025-05-11 | 21.10% |
| 2025-02-16 | 22.30% |
| 2024-11-24 | 172.54% |
| 2024-09-01 | 136.39% |
| 2024-05-12 | 121.06% |
| 2024-02-18 | 142.93% |
| 2023-11-26 | 19.95% |
| 2023-08-31 | 18.55% |
| 2023-05-07 | 27.41% |
| 2023-02-12 | 28.27% |
| 2022-11-20 | 54.30% |
| 2022-08-31 | 42.79% |
| 2022-05-08 | 34.12% |
| 2022-02-13 | 22.51% |
| 2021-11-21 | 99.47% |
| 2021-08-31 | 107.04% |
| 2021-05-09 | 81.99% |
| 2021-02-14 | 97.19% |
| 2020-11-22 | 18.95% |
| 2020-08-31 | 24.44% |
| 2020-05-10 | 29.05% |
| 2020-02-16 | 26.57% |
| 2019-11-24 | 33.66% |
| 2019-08-31 | 30.91% |
| 2019-05-12 | 38.96% |
| 2019-02-17 | 36.48% |
| 2018-11-25 | 38.81% |
| 2018-08-31 | 32.41% |
| 2018-05-13 | 123.94% |
| 2018-02-18 | 142.57% |
| 2017-11-26 | 119.55% |
| 2017-08-31 | 92.42% |
| 2017-05-07 | 36.73% |
| 2017-02-12 | 30.93% |
| 2016-11-20 | 35.32% |
| 2016-08-31 | 143.39% |
| 2016-05-08 | 46.66% |
| 2016-02-14 | 149.28% |
| 2015-11-22 | 140.47% |
| 2015-08-31 | 115.40% |
| 2015-05-10 | 260.19% |
| 2015-02-15 | 63.25% |
| 2014-11-23 | 62.82% |
| 2014-08-31 | 74.33% |
| 2014-05-11 | 37.08% |
| 2014-02-16 | 193.15% |
| 2013-11-24 | 226.26% |
| 2013-08-31 | 196.28% |
| 2013-05-12 | 169.11% |
| 2013-02-17 | 37.56% |
| 2012-11-25 | 30.27% |
| 2012-08-31 | 34.94% |
| 2012-05-06 | 27.64% |
| 2012-02-12 | 31.60% |
| 2011-11-20 | 22.31% |
| 2011-08-31 | 20.39% |
| 2011-05-08 | 21.90% |
| 2011-02-13 | 19.58% |
| 2010-11-21 | 20.46% |
| 2010-08-31 | 19.59% |
| 2010-05-09 | 17.94% |
| 2010-02-14 | 19.81% |
| 2009-11-22 | 22.14% |
| 2009-08-31 | 43.35% |
| 2009-05-10 | 60.40% |
| 2009-02-15 | 51.98% |
| 2008-11-23 | 82.15% |
| 2008-08-31 | 45.88% |
| 2008-05-11 | 39.73% |
| 2008-02-17 | 35.58% |
| 2007-11-25 | 49.32% |
| 2007-08-31 | 26.98% |
| 2007-05-13 | 22.19% |
| 2007-02-18 | 73.49% |
| 2006-11-26 | 22.83% |
| 2006-08-31 | 28.54% |
| 2006-05-07 | 26.08% |
| 2006-02-12 | 18.04% |
| 2005-11-20 | 19.22% |
| 2005-08-31 | 19.99% |
| 2005-05-08 | 5.62% |
| 2022 |
| $3.50B |
| $1.50B |
| 42.8% |
| 2021 | $5.37B | $5.75B | 107.0% |
| 2020 | $6.05B | $1.48B | 24.4% |
| 2019 | $3.36B | $1.04B | 30.9% |
| 2018 | $2.81B | $689.00M | 24.6% |
| 2017 | $4.22B | $3.90B | 92.4% |
| 2016 | $643.00M | $746.00M | 116.0% |
| 2015 | $1.89B | $2.87B | 151.4% |
| 2014 | $1.99B | $584.00M | 29.3% |
| 2013 | $1.35B | $3.56B | 262.9% |
| 2012 | $1.58B | $446.00M | 28.3% |
| 2011 | $1.91B | $389.00M | 20.4% |
| 2010 | $1.73B | $338.00M | 19.6% |
| 2009 | $842.00M | $296.00M | 35.2% |
| 2008 | $577.60M | $265.03M | 45.9% |
| 2007 | $690.71M | $245.74M | 35.6% |
| 2006 | $614.72M | $230.21M | 37.4% |
| 2005 | $787.75M | $204.57M | 26.0% |
| 2004 | $1.39B | $92.14M | 6.6% |
| 2003 | $696.54M | $0 | 0.0% |
| 2002 | ($20.36M) | $0 | N/A (Loss) |
| 2001 | ($414.99M) | $0 | N/A (Loss) |
| 2000 | ($158.06M) | $0 | N/A (Loss) |
| 1999 | $153.00M | $0 | 0.0% |
| 1998 | $165.70M | $0 | 0.0% |
| 1997 | $36.80M | $0 | 0.0% |
| 1996 | ($80.40M) | $0 | 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.
