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 193.91% is in line with its 1-year average of 198.10%, around the middle of its 1-year range (115.10%–303.61%).
As of the fiscal period ended Friday, September 30, 2016. 12.92% above its 12-month average of 171.72%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
193.91%
FCF PAYOUT RATIO AVG TTM
171.72%
FCF PAYOUT RATIO AVG 3Y
198.10%
FCF PAYOUT RATIO AVG 5Y
198.10%
FCF PAYOUT RATIO AVG 10Y
134.84%
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+12.92%
CURRENT VS 3Y AVG
-2.11%
CURRENT VS 5Y AVG
-2.11%
CURRENT VS 10Y AVG
+43.81%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
193.9%
Earnings Payout Ratio
29.9%
Dividend Yield
5.04%
FCF Yield
N/A
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | ($715.00M) | $1.38B | N/A (Loss) |
| 2024 | ($693.00M) | $1.29B | N/A (Loss) |
| 2023 | ($2.05B) | $1.22B | N/A (Loss) |
| 2022 | ($2.56B) | $1.15B | N/A (Loss) |
| 2021 | ($5.49B) | $1.02B | N/A (Loss) |
| 2020 | ($4.22B) | $928.00M |
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 |
|---|---|
| 2016-09-30 | 193.91% |
| 2016-06-30 | 186.31% |
| 2016-03-31 | 115.10% |
| 2015-12-31 | 191.55% |
| 2015-06-30 | 303.61% |
| 2008-03-31 | 189.45% |
| 2007-12-31 | 103.00% |
| 2007-09-30 | 115.37% |
| 2007-06-30 | 58.01% |
| 2007-03-31 | 58.19% |
| 2006-12-31 | 59.41% |
| 2006-09-30 | 44.14% |
| 2006-06-30 | 274.10% |
| 2006-03-31 | 113.57% |
| 2005-12-31 | 144.93% |
| 2005-09-30 | 101.88% |
| 2005-06-30 | 113.70% |
| 2004-06-30 | 59.55% |
| 2004-03-31 | 5.91% |
| 2003-12-31 | 1.58% |
| N/A (Loss) |
| 2019 | ($5.18B) | $810.00M | N/A (Loss) |
| 2018 | ($1.33B) | $788.00M | N/A (Loss) |
| 2017 | ($247.00M) | $707.00M | N/A (Loss) |
| 2016 | ($478.00M) | $626.00M | N/A (Loss) |
| 2015 | $284.00M | $544.00M | 191.5% |
| 2014 | ($658.00M) | $463.00M | N/A (Loss) |
| 2013 | ($396.00M) | $440.00M | N/A (Loss) |
| 2012 | ($815.00M) | $424.00M | N/A (Loss) |
| 2011 | ($902.00M) | $417.00M | N/A (Loss) |
| 2010 | ($1.13B) | $411.00M | N/A (Loss) |
| 2009 | ($168.00M) | $404.00M | N/A (Loss) |
| 2008 | ($630.00M) | $397.00M | N/A (Loss) |
| 2007 | $295.00M | $378.00M | 128.1% |
| 2006 | $1.06B | $514.00M | 48.6% |
| 2005 | $345.00M | $500.00M | 144.9% |
| 2004 | ($133.00M) | $407.00M | N/A (Loss) |
| 2003 | $2.02B | $42.00M | 2.1% |
| 2002 | $737.00M | $37.00M | 5.0% |
| 2001 | $2.04B | $0 | 0.0% |
| 2000 | ($79.00M) | $371.00M | N/A (Loss) |
| 1999 | ($7.08B) | $373.00M | N/A (Loss) |
| 1998 | $499.00M | $374.00M | 74.9% |
| 1997 | $1.35B | $408.00M | 30.2% |
| 1996 | $1.45B | $440.00M | 30.3% |
