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 98.17% is 33% above its 1-year average of 73.84%, near the high end of its 1-year range (44.89%–98.17%).
As of the fiscal period ended Tuesday, March 31, 2026. 32.95% above its 12-month average of 73.84%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
98.17%
FCF PAYOUT RATIO AVG TTM
73.84%
FCF PAYOUT RATIO AVG 3Y
73.84%
FCF PAYOUT RATIO AVG 5Y
73.84%
FCF PAYOUT RATIO AVG 10Y
73.84%
FCF PAYOUT RATIO AVG 15Y
204.68%
FCF PAYOUT RATIO AVG 20Y
258.35%
CURRENT VS TTM AVG
+32.95%
CURRENT VS 3Y AVG
+32.95%
CURRENT VS 5Y AVG
+32.95%
CURRENT VS 10Y AVG
+32.95%
CURRENT VS 15Y AVG
-52.04%
CURRENT VS 20Y AVG
-62.00%
FCF Payout Ratio TTM
98.2%
Earnings Payout Ratio
67.5%
Dividend Yield
3.26%
FCF Yield
6.49%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | ($1.67B) | $3.30B | N/A (Loss) |
| 2024 | $48.00M | $3.21B | n/m |
| 2023 | ($2.73B) | $3.24B | N/A (Loss) |
| 2022 | ($5.44B) | $3.18B | N/A (Loss) |
| 2021 | ($1.43B) | $3.11B | N/A (Loss) |
| 2020 | ($1.05B) | $2.81B | N/A (Loss) |
| 2019 | ($2.91B) | $2.67B | N/A (Loss) |
| 2018 | ($2.20B) | $2.47B | N/A (Loss) |
| 2017 | ($1.43B) | $2.45B | N/A (Loss) |
| 2016 | ($1.10B) | $2.33B | N/A (Loss) |
| 2015 | ($90.00M) | $2.25B | N/A (Loss) |
| 2014 | $1.20B | $2.23B | 185.9% |
| 2013 | $856.00M | $2.19B | 255.6% |
| 2012 | ($257.00M) | $1.75B | N/A (Loss) |
| 2011 | ($691.00M) | $1.33B | N/A (Loss) |
| 2010 | ($292.00M) | $1.28B | N/A (Loss) |
| 2009 | ($926.00M) | $1.22B | N/A (Loss) |
| 2008 | ($1.06B) | $1.14B | N/A (Loss) |
| 2007 | $83.00M | $1.09B | n/m |
| 2006 | $367.00M | $1.49B | 405.4% |
| 2005 | $495.00M | $1.10B | 223.2% |
| 2004 | $2.05B | $1.06B | 52.1% |
| 2003 | $1.40B | $1.05B | 74.9% |
| 2002 | ($394.00M) | $938.00M | N/A (Loss) |
| 2001 | ($1.33B) | $871.00M | N/A (Loss) |
| 2000 | ($3.41B) | $828.00M | N/A (Loss) |
| 1999 | ($3.20B) | $822.00M | N/A (Loss) |
| 1998 | $210.00M | $814.00M | 387.6% |
| 1997 | $816.90M | $726.40M | 88.9% |
| 1996 | $836.20M | $466.80M | 55.8% |
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 |
|---|---|
| 2026-03-31 | 98.17% |
| 2025-12-31 | 78.45% |
| 2025-09-30 | 44.89% |
| 2015-09-30 | 413.42% |
| 2015-06-30 | 280.25% |
| 2015-03-31 | 205.96% |
| 2014-12-31 | 185.86% |
| 2014-09-30 | 196.29% |
| 2014-06-30 | 233.37% |
| 2014-03-31 | 171.66% |
| 2013-12-31 | 255.61% |
| 2013-09-30 | 292.21% |
| 2007-09-30 | 865.59% |
| 2007-03-31 | 519.15% |
| 2006-12-31 | 437.65% |
| 2006-03-31 | 462.30% |
| 2005-12-31 | 249.44% |
| 2005-09-30 | 85.09% |
| 2005-06-30 | 59.72% |
| 2005-03-31 | 104.90% |
| 2004-12-31 | 90.77% |
| 2004-09-30 | 79.25% |
| 2004-06-30 | 89.18% |
| 2004-03-31 | 106.32% |
| 2003-12-31 | 156.31% |
| 2003-09-30 | 291.92% |
| 2003-06-30 | 178.30% |
| 2003-03-31 | 781.45% |
