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 42.34% is 16% above its 1-year average of 36.50%, near the high end of its 1-year range (33.35%–42.34%).
As of the fiscal period ended Tuesday, March 31, 2026. 16.00% above its 12-month average of 36.50%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
42.34%
FCF PAYOUT RATIO AVG TTM
36.50%
FCF PAYOUT RATIO AVG 3Y
36.50%
FCF PAYOUT RATIO AVG 5Y
36.50%
FCF PAYOUT RATIO AVG 10Y
36.50%
FCF PAYOUT RATIO AVG 15Y
105.24%
FCF PAYOUT RATIO AVG 20Y
125.35%
CURRENT VS TTM AVG
+16.00%
CURRENT VS 3Y AVG
+16.00%
CURRENT VS 5Y AVG
+16.00%
CURRENT VS 10Y AVG
+16.00%
CURRENT VS 15Y AVG
-59.77%
CURRENT VS 20Y AVG
-66.22%
FCF Payout Ratio TTM
42.3%
Earnings Payout Ratio
61.4%
Dividend Yield
3.07%
FCF Yield
6.84%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $36.00M | $1.17B | n/m |
| 2024 | ($1.16B) | $1.10B | N/A (Loss) |
| 2023 | ($2.34B) | $1.10B | N/A (Loss) |
| 2022 | ($233.00M) | $1.09B | N/A (Loss) |
| 2021 | ($1.22B) | $1.03B | N/A (Loss) |
| 2020 | ($1.71B) | $975.00M | N/A (Loss) |
| 2019 | ($352.00M) | $924.00M | N/A (Loss) |
| 2018 | ($802.00M) | $842.00M | N/A (Loss) |
| 2017 | ($76.00M) | $803.00M | N/A (Loss) |
| 2016 | ($221.00M) | $763.00M | N/A (Loss) |
| 2015 | $223.00M | $733.00M | 328.7% |
| 2014 | $412.00M | $739.00M | 179.4% |
| 2013 | $14.00M | $721.00M | n/m |
| 2012 | $530.00M | $712.00M | 134.3% |
| 2011 | $1.17B | $704.00M | 60.2% |
| 2010 | $352.00M | $640.00M | 181.8% |
| 2009 | $273.00M | $612.00M | 224.2% |
| 2008 | ($1.70B) | $618.00M | N/A (Loss) |
| 2007 | ($379.00M) | $582.00M | N/A (Loss) |
| 2006 | ($499.00M) | $533.00M | N/A (Loss) |
| 2005 | ($843.00M) | $518.00M | N/A (Loss) |
| 2004 | ($77.00M) | $490.00M | N/A (Loss) |
| 2003 | ($78.00M) | $455.00M | N/A (Loss) |
| 2002 | $289.22M | $443.62M | 153.4% |
| 2001 | $246.15M | $480.56M | 195.2% |
| 2000 | $1.23M | $462.50M | n/m |
| 1999 | $527.20M | $477.10M | 90.5% |
| 1998 | $747.00M | $493.20M | 66.0% |
| 1997 | $584.30M | $512.10M | 87.6% |
| 1996 | $432.10M | $511.50M | 118.4% |
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 | 42.34% |
| 2025-12-31 | 33.35% |
| 2025-09-30 | 33.81% |
| 2015-12-31 | 328.70% |
| 2015-09-30 | 158.39% |
| 2015-06-30 | 158.11% |
| 2015-03-31 | 104.34% |
| 2014-12-31 | 179.37% |
| 2014-09-30 | 130.60% |
| 2014-06-30 | 205.35% |
| 2014-03-31 | 184.95% |
| 2013-06-30 | 837.21% |
| 2012-12-31 | 134.34% |
| 2012-09-30 | 117.56% |
| 2012-06-30 | 92.27% |
| 2012-03-31 | 61.34% |
| 2011-12-31 | 60.17% |
| 2011-09-30 | 45.05% |
| 2011-06-30 | 62.04% |
| 2011-03-31 | 91.01% |
| 2010-12-31 | 181.82% |
| 2009-12-31 | 227.47% |
| 2005-03-31 | 340.14% |
| 2004-09-30 | 339.46% |
| 2004-06-30 | 304.94% |
| 2004-03-31 | 808.47% |
| 2003-06-30 | 111.46% |
| 2003-03-31 | 396.67% |
