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 245.03% is 124% above its 5-year average of 109.57%, near the high end of its 5-year range (56.17%–245.03%).
As of the fiscal period ended Tuesday, June 30, 2026. 40.03% above its 12-month average of 174.98%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
245.03%
FCF PAYOUT RATIO AVG TTM
174.98%
FCF PAYOUT RATIO AVG 3Y
124.77%
FCF PAYOUT RATIO AVG 5Y
97.00%
FCF PAYOUT RATIO AVG 10Y
153.13%
FCF PAYOUT RATIO AVG 15Y
169.62%
FCF PAYOUT RATIO AVG 20Y
171.00%
CURRENT VS TTM AVG
+40.03%
CURRENT VS 3Y AVG
+96.39%
CURRENT VS 5Y AVG
+152.61%
CURRENT VS 10Y AVG
+60.02%
CURRENT VS 15Y AVG
+44.46%
CURRENT VS 20Y AVG
+43.29%
FCF Payout Ratio TTM
245.0%
Earnings Payout Ratio
82.3%
Dividend Yield
5.80%
FCF Yield
1.76%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $2.96B | $4.68B | 157.8% |
| 2024 | $3.57B | $4.51B | 126.4% |
| 2023 | $4.30B | $4.30B | 100.0% |
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 |
|---|---|
| 2026-06-30 | 245.03% |
| 2026-03-31 | 213.03% |
| 2025-12-31 | 157.77% |
| 2025-09-30 | 149.92% |
| 2025-06-30 | 109.14% |
| 2025-03-31 | 121.15% |
| 2024-12-31 | 126.35% |
| 2024-09-30 | 123.00% |
| 2024-06-30 | 121.34% |
| 2024-03-31 | 97.97% |
| 2023-12-31 | 99.79% |
| 2023-09-30 | 86.36% |
| 2023-06-30 | 91.38% |
| 2023-03-31 | 79.61% |
| 2022-12-31 | 67.41% |
| 2022-09-30 | 69.48% |
| 2022-06-30 | 56.17% |
| 2022-03-31 | 58.75% |
| 2021-12-31 | 62.31% |
| 2021-09-30 | 70.20% |
| 2021-06-30 | 94.88% |
| 2021-03-31 | 128.51% |
| 2020-12-31 | 149.45% |
| 2020-09-30 | 186.52% |
| 2020-06-30 | 169.84% |
| 2020-03-31 | 132.77% |
| 2019-12-31 | 193.07% |
| 2019-09-30 | 176.94% |
| 2019-06-30 | 184.82% |
| 2019-03-31 | 230.96% |
| 2018-12-31 | 195.83% |
| 2018-09-30 | 173.84% |
| 2018-06-30 | 331.80% |
| 2018-03-31 | 263.06% |
| 2017-12-31 | 235.11% |
| 2017-09-30 | 235.41% |
| 2017-06-30 | 151.95% |
| 2017-03-31 | 214.16% |
| 2016-12-31 | 316.84% |
| 2016-09-30 | 752.62% |
| 2015-09-30 | 709.70% |
| 2015-06-30 | 328.89% |
| 2015-03-31 | 382.76% |
| 2014-12-31 | 207.84% |
| 2014-09-30 | 193.36% |
| 2014-06-30 | 237.61% |
| 2014-03-31 | 310.30% |
| 2013-12-31 | 524.89% |
| 2010-09-30 | 193.15% |
| 2010-06-30 | 170.79% |
| 2010-03-31 | 146.22% |
| 2009-12-31 | 236.10% |
| 2006-06-30 | 952.21% |
| 2005-03-31 | 243.00% |
| 2004-12-31 | 199.25% |
| 2004-09-30 | 261.08% |
| 2004-06-30 | 125.88% |
| 2004-03-31 | 204.25% |
| 2003-12-31 | 114.07% |
| 2003-09-30 | 112.70% |
| 2003-06-30 | 84.41% |
| 2022 |
| $6.08B |
| $4.09B |
| 67.4% |
| 2021 | $6.29B | $3.93B | 62.5% |
| 2020 | $2.60B | $3.89B | 149.4% |
| 2019 | $1.99B | $3.84B | 193.1% |
| 2018 | $1.90B | $3.73B | 195.8% |
| 2017 | $1.52B | $3.57B | 235.1% |
| 2016 | $1.04B | $3.30B | 316.8% |
| 2015 | $171.70M | $2.94B | n/m |
| 2014 | $1.27B | $2.64B | 207.8% |
| 2013 | $457.30M | $2.40B | 524.9% |
| 2012 | ($731.00M) | $2.18B | N/A (Loss) |
| 2011 | ($537.00M) | $1.97B | N/A (Loss) |
| 2010 | $259.20M | $307.70M | 118.7% |
| 2009 | $791.50M | $1.59B | 201.5% |
| 2008 | ($747.52M) | $1.04B | N/A (Loss) |
| 2007 | ($606.09M) | $957.71M | N/A (Loss) |
| 2006 | ($166.00M) | $843.29M | N/A (Loss) |
| 2005 | ($232.75M) | $722.42M | N/A (Loss) |
| 2004 | $223.44M | $445.20M | 199.2% |
| 2003 | $278.79M | $318.03M | 114.1% |
| 2002 | $255.63M | $218.19M | 85.4% |
| 2001 | $133.43M | $166.00M | 124.4% |
| 2000 | $116.78M | $141.01M | 120.8% |
| 1999 | ($60.50M) | $111.80M | N/A (Loss) |
| 1998 | ($28.70M) | $21.60M | 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.
