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 436.31% is 94% above its 5-year average of 224.37%, near the high end of its 5-year range (126.86%–436.31%).
As of the fiscal period ended Sunday, June 30, 2019. 103.94% above its 12-month average of 213.94%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
436.31%
FCF PAYOUT RATIO AVG TTM
213.94%
FCF PAYOUT RATIO AVG 3Y
216.14%
FCF PAYOUT RATIO AVG 5Y
224.37%
FCF PAYOUT RATIO AVG 10Y
166.04%
FCF PAYOUT RATIO AVG 15Y
105.95%
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+103.94%
CURRENT VS 3Y AVG
+101.86%
CURRENT VS 5Y AVG
+94.46%
CURRENT VS 10Y AVG
+162.77%
CURRENT VS 15Y AVG
+311.82%
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
436.3%
Earnings Payout Ratio
59.9%
Dividend Yield
3.45%
FCF Yield
N/A
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | ($2.27B) | $1.62B | N/A (Loss) |
| 2024 | ($1.53B) | $1.52B | N/A (Loss) |
| 2023 | ($2.71B) | $1.43B | 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 |
|---|---|
| 2019-06-30 | 436.31% |
| 2019-03-31 | 225.54% |
| 2018-12-31 | 126.86% |
| 2018-09-30 | 137.88% |
| 2018-06-30 | 143.09% |
| 2018-03-31 | 293.74% |
| 2016-09-30 | 149.55% |
| 2014-06-30 | 282.01% |
| 2014-03-31 | 220.04% |
| 2013-12-31 | 131.75% |
| 2013-09-30 | 324.20% |
| 2013-06-30 | 645.78% |
| 2013-03-31 | 665.20% |
| 2012-12-31 | 501.75% |
| 2012-09-30 | 127.23% |
| 2012-06-30 | 89.74% |
| 2012-03-31 | 84.60% |
| 2011-12-31 | 171.76% |
| 2011-06-30 | 863.35% |
| 2010-12-31 | 72.42% |
| 2010-09-30 | 63.89% |
| 2010-06-30 | 69.25% |
| 2010-03-31 | 54.01% |
| 2009-12-31 | 49.10% |
| 2009-09-30 | 37.14% |
| 2009-06-30 | 27.08% |
| 2009-03-31 | 29.39% |
| 2008-12-31 | 41.98% |
| 2008-09-30 | 62.99% |
| 2008-06-30 | 102.89% |
| 2008-03-31 | 73.71% |
| 2007-12-31 | 64.76% |
| 2007-09-30 | 50.63% |
| 2007-06-30 | 65.32% |
| 2007-03-31 | 35.40% |
| 2006-12-31 | 33.22% |
| 2006-09-30 | 48.05% |
| 2006-06-30 | 71.23% |
| 2006-03-31 | 82.70% |
| 2005-09-30 | 227.35% |
| 2005-06-30 | 108.15% |
| 2005-03-31 | 161.73% |
| 2004-12-31 | 33.55% |
| 2004-09-30 | 32.36% |
| 2004-06-30 | 31.49% |
| 2004-03-31 | 34.78% |
| 2003-12-31 | 43.36% |
| 2003-09-30 | 41.68% |
| 2003-06-30 | 50.40% |
| 2003-03-31 | 49.43% |
| 2022 |
| ($2.28B) |
| $1.33B |
| N/A (Loss) |
| 2021 | ($4.97B) | $1.50B | N/A (Loss) |
| 2020 | ($3.81B) | $1.49B | N/A (Loss) |
| 2019 | ($589.00M) | $1.41B | N/A (Loss) |
| 2018 | $1.05B | $1.33B | 126.9% |
| 2017 | ($92.00M) | $1.24B | N/A (Loss) |
| 2016 | ($131.00M) | $1.17B | N/A (Loss) |
| 2015 | $10.00M | $1.10B | n/m |
| 2014 | ($1.62B) | $1.06B | N/A (Loss) |
| 2013 | $948.00M | $1.25B | 131.8% |
| 2012 | $343.00M | $1.72B | 500.3% |
| 2011 | $811.00M | $1.39B | 171.8% |
| 2010 | $1.92B | $1.39B | 72.4% |
| 2009 | $2.82B | $1.39B | 49.1% |
| 2008 | $3.43B | $1.33B | 38.9% |
| 2007 | $1.82B | $1.18B | 64.8% |
| 2006 | $2.42B | $1.07B | 44.3% |
| 2005 | ($18.00M) | $1.07B | N/A (Loss) |
| 2004 | $2.48B | $831.00M | 33.5% |
| 2003 | $1.43B | $620.00M | 43.4% |
| 2002 | $1.46B | $563.00M | 38.5% |
| 2001 | $1.57B | $583.00M | 37.0% |
| 2000 | $344.00M | $157.00M | 45.6% |
| 1999 | $397.30M | $208.10M | 52.4% |
| 1998 | $1.02B | $236.30M | 23.2% |
| 1997 | $548.00M | $422.80M | 77.2% |
| 1996 | $623.30M | $409.90M | 65.8% |
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.
