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 30.09% is 50% below its 5-year average of 60.07%, near the low end of its 5-year range (5.61%–154.72%).
As of the fiscal period ended Tuesday, June 30, 2026. 23.13% below its 12-month average of 39.15%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
30.09%
FCF PAYOUT RATIO AVG TTM
39.15%
FCF PAYOUT RATIO AVG 3Y
80.29%
FCF PAYOUT RATIO AVG 5Y
60.07%
FCF PAYOUT RATIO AVG 10Y
62.61%
FCF PAYOUT RATIO AVG 15Y
37.16%
FCF PAYOUT RATIO AVG 20Y
37.16%
CURRENT VS TTM AVG
-23.13%
CURRENT VS 3Y AVG
-62.52%
CURRENT VS 5Y AVG
-49.91%
CURRENT VS 10Y AVG
-51.93%
CURRENT VS 15Y AVG
-19.02%
CURRENT VS 20Y AVG
-19.02%
FCF Payout Ratio TTM
30.1%
Earnings Payout Ratio
41.6%
Dividend Yield
3.44%
FCF Yield
11.48%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $1.84B | $765.00M | 41.6% |
| 2024 | $8.00M | $388.00M | n/m |
| 2023 | $551.00M | $487.00M | 88.4% |
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 | 30.09% |
| 2026-03-31 | 26.68% |
| 2025-12-31 | 44.95% |
| 2025-09-30 | 51.84% |
| 2025-06-30 | 42.18% |
| 2025-03-31 | 111.58% |
| 2024-09-30 | 132.13% |
| 2024-06-30 | 154.72% |
| 2024-03-31 | 134.14% |
| 2023-12-31 | 88.38% |
| 2023-09-30 | 84.79% |
| 2023-06-30 | 61.99% |
| 2023-03-31 | 53.87% |
| 2022-12-31 | 52.65% |
| 2022-09-30 | 40.50% |
| 2022-06-30 | 37.87% |
| 2022-03-31 | 24.98% |
| 2021-12-31 | 11.30% |
| 2021-09-30 | 11.26% |
| 2021-06-30 | 5.61% |
| 2020-12-31 | 100.00% |
| 2020-09-30 | 75.86% |
| 2015-12-31 | 51.79% |
| 2015-09-30 | 33.98% |
| 2015-06-30 | 31.04% |
| 2015-03-31 | 18.74% |
| 2014-12-31 | 15.59% |
| 2014-09-30 | 15.50% |
| 2014-06-30 | 12.84% |
| 2014-03-31 | 13.52% |
| 2013-12-31 | 15.33% |
| 2013-09-30 | 4.27% |
| 2013-06-30 | 5.17% |
| 2013-03-31 | 6.24% |
| 2012-12-31 | 8.75% |
| 2004-09-30 | 6.17% |
| 2004-06-30 | 5.14% |
| 2004-03-31 | 20.22% |
| 2003-12-31 | 33.06% |
| 2022 |
| $2.30B |
| $1.21B |
| 52.6% |
| 2021 | $1.05B | $119.00M | 11.3% |
| 2020 | $22.00M | $22.00M | 100.0% |
| 2019 | ($640.00M) | $91.00M | N/A (Loss) |
| 2018 | ($267.00M) | $92.00M | N/A (Loss) |
| 2017 | ($1.75B) | $183.00M | N/A (Loss) |
| 2016 | ($2.32B) | $0 | N/A (Loss) |
| 2015 | ($3.04B) | $289.00M | N/A (Loss) |
| 2014 | ($1.98B) | $405.00M | N/A (Loss) |
| 2013 | ($2.99B) | $404.00M | N/A (Loss) |
| 2012 | ($2.98B) | $398.00M | N/A (Loss) |
| 2011 | ($1.08B) | $379.00M | N/A (Loss) |
| 2010 | ($3.15B) | $281.00M | N/A (Loss) |
| 2009 | $375.00M | $204.00M | 54.4% |
| 2008 | ($6.31B) | $183.00M | N/A (Loss) |
| 2007 | $3.49B | $210.00M | 6.0% |
| 2006 | $3.86B | $175.43M | 4.5% |
| 2005 | ($2.04B) | $92.01M | N/A (Loss) |
| 2004 | $22.41M | $79.81M | 356.1% |
| 2003 | ($1.12B) | $48.17M | N/A (Loss) |
| 2002 | ($336.41M) | $15.16M | N/A (Loss) |
| 2001 | $93.77M | $1.09M | 1.2% |
| 2000 | $112.44M | $4.64M | 4.1% |
| 1999 | ($9.43M) | $0 | N/A (Loss) |
| 1998 | $112.44M | $4.64M | 4.1% |
| 1997 | ($418.30M) | $0 | N/A (Loss) |
| 1996 | ($229.92M) | $0 | 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.
