Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
The FCF payout ratio is 69.86% as of the fiscal period ended Tuesday, March 31, 2026.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
69.86%
FCF PAYOUT RATIO AVG TTM
70.37%
FCF PAYOUT RATIO AVG 3Y
70.07%
FCF PAYOUT RATIO AVG 5Y
69.95%
FCF PAYOUT RATIO AVG 10Y
67.31%
FCF PAYOUT RATIO AVG 15Y
67.12%
FCF PAYOUT RATIO AVG 20Y
67.12%
CURRENT VS TTM AVG
-0.72%
CURRENT VS 3Y AVG
-0.30%
CURRENT VS 5Y AVG
-0.12%
CURRENT VS 10Y AVG
+3.79%
CURRENT VS 15Y AVG
+4.09%
CURRENT VS 20Y AVG
+4.09%
FCF Payout Ratio TTM
69.9%
Earnings Payout Ratio
99.1%
Dividend Yield
3.55%
FCF Yield
5.06%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $934.08M | $654.07M | 70.0% |
| 2024 | $931.91M | $620.47M | 66.6% |
| 2023 | $839.69M | $586.98M | 69.9% |
| 2022 | $812.46M | $565.92M | 69.7% |
| 2021 | $784.06M | $542.86M | 69.2% |
| 2020 | $713.02M | $536.10M | 75.2% |
| 2019 | $817.39M | $507.75M | 62.1% |
| 2018 | $744.87M | $484.18M | 65.0% |
| 2017 | $695.16M | $450.63M | 64.8% |
| 2016 | $652.51M | $411.13M | 63.0% |
| 2015 | $560.13M | $367.26M | 65.6% |
| 2014 | $414.12M | $260.57M | 62.9% |
| 2013 | $264.05M | $180.67M | 68.4% |
| 2012 | $229.39M | $156.25M | 68.1% |
| 2011 | $182.87M | $138.62M | 75.8% |
| 2010 | ($310.69M) | $123.63M | N/A (Loss) |
| 2009 | ($18.86M) | $117.10M | N/A (Loss) |
| 2008 | ($118.15M) | $109.49M | N/A (Loss) |
| 2007 | ($365.83M) | $97.64M | N/A (Loss) |
| 2006 | ($379.79M) | $80.45M | N/A (Loss) |
| 2005 | ($111.04M) | $76.26M | N/A (Loss) |
| 2004 | ($114.22M) | $72.72M | N/A (Loss) |
| 2003 | ($13.98M) | $68.38M | N/A (Loss) |
| 2002 | ($88.49M) | $55.60M | N/A (Loss) |
| 2001 | $23.73M | $49.99M | 210.6% |
| 2000 | ($25.38M) | $42.42M | N/A (Loss) |
| 1999 | ($79.35M) | $38.63M | N/A (Loss) |
| 1998 | ($137.24M) | $35.07M | N/A (Loss) |
| 1997 | ($228.41M) | $25.05M | N/A (Loss) |
| 1996 | ($81.29M) | $12.01M | 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.
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 | 69.86% |
| 2025-12-31 | 70.02% |
| 2025-09-30 | 70.30% |
| 2025-06-30 | 71.47% |
| 2025-03-31 | 70.19% |
| 2024-12-31 | 66.58% |
| 2024-09-30 | 67.17% |
| 2024-06-30 | 68.42% |
| 2024-03-31 | 68.00% |
| 2023-12-31 | 69.90% |
| 2023-09-30 | 73.30% |
| 2023-06-30 | 72.22% |
| 2023-03-31 | 73.47% |
| 2022-12-31 | 69.66% |
| 2022-09-30 | 64.54% |
| 2022-06-30 | 64.80% |
| 2022-03-31 | 60.75% |
| 2021-12-31 | 69.24% |
| 2021-09-30 | 73.03% |
| 2021-06-30 | 76.80% |
| 2021-03-31 | 84.49% |
| 2020-12-31 | 75.19% |
| 2020-09-30 | 71.54% |
| 2020-06-30 | 66.53% |
| 2020-03-31 | 64.55% |
| 2019-12-31 | 64.65% |
| 2019-09-30 | 66.35% |
| 2019-06-30 | 67.06% |
| 2019-03-31 | 67.26% |
| 2018-12-31 | 65.00% |
| 2018-09-30 | 63.87% |
| 2018-06-30 | 63.36% |
| 2018-03-31 | 62.67% |
| 2017-12-31 | 64.82% |
| 2017-09-30 | 63.99% |
| 2017-06-30 | 63.96% |
| 2017-03-31 | 62.77% |
| 2016-12-31 | 63.01% |
| 2016-09-30 | 61.32% |
| 2016-06-30 | 62.59% |
| 2016-03-31 | 62.28% |
| 2015-12-31 | 65.57% |
| 2015-09-30 | 61.72% |
| 2015-06-30 | 64.41% |
| 2015-03-31 | 51.15% |
| 2014-12-31 | 63.61% |
| 2014-09-30 | 64.58% |
| 2014-06-30 | 69.50% |
| 2014-03-31 | 92.96% |
| 2013-12-31 | 68.42% |
| 2013-09-30 | 71.45% |
| 2013-06-30 | 104.25% |
| 2013-03-31 | 167.46% |
| 2012-12-31 | 523.22% |
| 2012-06-30 | 605.53% |
| 2012-03-31 | 696.57% |
| 2009-09-30 | 629.67% |
| 2005-06-30 | 420.23% |
