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 208.50% is 48% above its 5-year average of 140.50%, around the middle of its 5-year range (40.41%–600.12%).
As of the fiscal period ended Thursday, December 31, 2015. 110.49% above its 12-month average of 99.06%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
208.50%
FCF PAYOUT RATIO AVG TTM
99.06%
FCF PAYOUT RATIO AVG 3Y
93.95%
FCF PAYOUT RATIO AVG 5Y
105.14%
FCF PAYOUT RATIO AVG 10Y
114.16%
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+110.49%
CURRENT VS 3Y AVG
+121.92%
CURRENT VS 5Y AVG
+98.30%
CURRENT VS 10Y AVG
+82.64%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
208.5%
Earnings Payout Ratio
63.3%
Dividend Yield
2.17%
FCF Yield
N/A
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | ($2.79B) | $1.09B | N/A (Loss) |
| 2024 | ($1.48B) | $999.98M | N/A (Loss) |
| 2023 | ($417.30M) | $936.51M | N/A (Loss) |
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 |
|---|---|
| 2015-12-31 | 208.50% |
| 2015-09-30 | 120.21% |
| 2015-06-30 | 62.13% |
| 2015-03-31 | 56.09% |
| 2014-12-31 | 48.35% |
| 2014-09-30 | 43.44% |
| 2014-06-30 | 58.01% |
| 2014-03-31 | 81.90% |
| 2013-12-31 | 166.94% |
| 2012-06-30 | 287.08% |
| 2012-03-31 | 600.12% |
| 2011-06-30 | 125.08% |
| 2011-03-31 | 68.69% |
| 2010-12-31 | 40.41% |
| 2010-09-30 | 311.74% |
| 2010-03-31 | 156.15% |
| 2009-12-31 | 125.29% |
| 2009-09-30 | 37.50% |
| 2009-06-30 | 36.36% |
| 2009-03-31 | 54.35% |
| 2008-12-31 | 70.17% |
| 2008-09-30 | 47.03% |
| 2008-06-30 | 96.62% |
| 2008-03-31 | 229.22% |
| 2007-12-31 | 225.17% |
| 2007-09-30 | 177.03% |
| 2007-06-30 | 90.20% |
| 2007-03-31 | 61.36% |
| 2006-12-31 | 50.74% |
| 2006-09-30 | 101.82% |
| 2006-06-30 | 187.15% |
| 2005-09-30 | 50.53% |
| 2005-06-30 | 44.95% |
| 2005-03-31 | 29.34% |
| 2004-12-31 | 29.72% |
| 2004-09-30 | 46.36% |
| 2004-06-30 | 45.44% |
| 2004-03-31 | 44.45% |
| 2003-12-31 | 88.43% |
| 2003-09-30 | 227.82% |
| 2003-06-30 | 71.26% |
| 2003-03-31 | 104.43% |
| 2022 |
| ($2.70B) |
| $860.00M |
| N/A (Loss) |
| 2021 | ($4.12B) | $793.44M | N/A (Loss) |
| 2020 | ($2.47B) | $766.84M | N/A (Loss) |
| 2019 | ($1.81B) | $728.01M | N/A (Loss) |
| 2018 | ($1.89B) | $647.70M | N/A (Loss) |
| 2017 | ($1.38B) | $628.88M | N/A (Loss) |
| 2016 | ($1.05B) | $632.62M | N/A (Loss) |
| 2015 | $296.72M | $618.65M | 208.5% |
| 2014 | $1.23B | $615.63M | 49.9% |
| 2013 | $366.50M | $611.84M | 166.9% |
| 2012 | ($748.68M) | $611.54M | N/A (Loss) |
| 2011 | ($198.84M) | $610.54M | N/A (Loss) |
| 2010 | $1.54B | $623.92M | 40.4% |
| 2009 | $476.44M | $596.91M | 125.3% |
| 2008 | $845.25M | $593.07M | 70.2% |
| 2007 | $236.80M | $533.20M | 225.2% |
| 2006 | $1.42B | $477.80M | 33.7% |
| 2005 | ($160.31M) | $478.98M | N/A (Loss) |
| 2004 | $1.52B | $451.43M | 29.7% |
| 2003 | $436.88M | $386.34M | 88.4% |
| 2002 | $651.40M | $322.70M | 49.5% |
| 2001 | $835.13M | $293.17M | 35.1% |
| 2000 | $474.13M | $303.42M | 64.0% |
| 1999 | $111.60M | $335.10M | 300.3% |
| 1998 | $432.80M | $420.20M | 97.1% |
| 1997 | $788.20M | $489.50M | 62.1% |
| 1996 | $761.70M | $475.80M | 62.5% |
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.
