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 8.22% is 27% below its 5-year average of 11.23%, near the low end of its 5-year range (5.41%–17.70%).
As of the fiscal period ended Tuesday, March 31, 2026. 18.16% below its 12-month average of 10.05%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
8.22%
FCF PAYOUT RATIO AVG TTM
10.05%
FCF PAYOUT RATIO AVG 3Y
10.27%
FCF PAYOUT RATIO AVG 5Y
10.69%
FCF PAYOUT RATIO AVG 10Y
N/A
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-18.16%
CURRENT VS 3Y AVG
-19.95%
CURRENT VS 5Y AVG
-23.07%
CURRENT VS 10Y AVG
N/A
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
8.2%
Earnings Payout Ratio
21.4%
Dividend Yield
0.36%
FCF Yield
4.39%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $2.32B | $191.00M | 8.2% |
| 2025 | $1.86B | $199.00M | 10.7% |
| 2024 | $2.12B | $205.00M | 9.7% |
| 2023 | $1.34B | $210.00M | 15.6% |
| 2022 | $1.71B | $193.00M | 11.3% |
| 2021 | $1.81B | $98.00M |
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 | 8.22% |
| 2025-12-31 | 8.31% |
| 2025-09-30 | 11.74% |
| 2025-06-30 | 11.26% |
| 2025-03-31 | 10.71% |
| 2024-12-31 | 10.68% |
| 2024-09-30 | 10.26% |
| 2024-06-30 | 10.94% |
| 2024-03-31 | 9.69% |
| 2023-12-31 | 9.55% |
| 2023-09-30 | 10.25% |
| 2023-06-30 | 11.65% |
| 2023-03-31 | 15.64% |
| 2022-12-31 | 17.70% |
| 2022-09-30 | 12.83% |
| 2022-06-30 | 11.19% |
| 2022-03-31 | 11.28% |
| 2021-12-31 | 11.69% |
| 2021-09-30 | 15.38% |
| 2021-06-30 | 11.46% |
| 2021-03-31 | 5.41% |
| 2020-12-31 | 2.54% |
| 5.4% |
| 2020 | $1.66B | $0 | 0.0% |
| 2019 | $1.43B | $0 | 0.0% |
| 2018 | $1.58B | $0 | 0.0% |
| 2017 | $1.26B | $0 | 0.0% |
| 2016 | $1.13B | $0 | 0.0% |
| 2015 | $972.00M | $0 | 0.0% |
| 2014 | $615.00M | $0 | 0.0% |
| 2013 | $218.00M | $0 | 0.0% |
| 2012 | $105.00M | $0 | 0.0% |
| 2011 | $261.00M | $0 | 0.0% |
| 2010 | ($153.00M) | $0 | N/A (Loss) |
| 2009 | ($103.00M) | $0 | N/A (Loss) |
| 2008 | $254.00M | $0 | 0.0% |
| 2007 | $219.00M | $0 | 0.0% |
| 2006 | $473.00M | $0 | 0.0% |
| 2005 | $508.00M | $0 | 0.0% |
| 2004 | $579.69M | $3.00M | 0.5% |
| 2003 | $655.34M | $0 | 0.0% |
| 2002 | $233.45M | $0 | 0.0% |
| 2001 | $73.59M | $0 | 0.0% |
| 2000 | ($89.55M) | $0 | N/A (Loss) |
| 1999 | ($99.50M) | $0 | N/A (Loss) |
| 1998 | $33.80M | $0 | 0.0% |
| 1997 | $44.40M | $0 | 0.0% |
