Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
The FCF payout ratio is 78.28% 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
78.28%
FCF PAYOUT RATIO AVG TTM
74.35%
FCF PAYOUT RATIO AVG 3Y
74.01%
FCF PAYOUT RATIO AVG 5Y
69.58%
FCF PAYOUT RATIO AVG 10Y
68.07%
FCF PAYOUT RATIO AVG 15Y
67.54%
FCF PAYOUT RATIO AVG 20Y
67.58%
CURRENT VS TTM AVG
+5.29%
CURRENT VS 3Y AVG
+5.78%
CURRENT VS 5Y AVG
+12.51%
CURRENT VS 10Y AVG
+15.00%
CURRENT VS 15Y AVG
+15.91%
CURRENT VS 20Y AVG
+15.84%
FCF Payout Ratio TTM
78.3%
Earnings Payout Ratio
141.2%
Dividend Yield
4.32%
FCF Yield
5.31%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $1.83B | $1.37B | 75.1% |
| 2024 | $1.87B | $1.38B | 73.7% |
| 2023 | $1.39B | $1.05B | 75.5% |
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 | 78.28% |
| 2025-12-31 | 74.50% |
| 2025-09-30 | 72.96% |
| 2025-06-30 | 73.06% |
| 2025-03-31 | 72.94% |
| 2024-12-31 | 73.65% |
| 2024-09-30 | 75.40% |
| 2024-06-30 | 73.42% |
| 2024-03-31 | 74.67% |
| 2023-12-31 | 75.47% |
| 2023-09-30 | 68.81% |
| 2023-06-30 | 69.58% |
| 2023-03-31 | 67.80% |
| 2022-12-31 | 66.26% |
| 2022-09-30 | 67.05% |
| 2022-06-30 | 66.03% |
| 2022-03-31 | 65.46% |
| 2021-12-31 | 63.34% |
| 2021-09-30 | 60.59% |
| 2021-06-30 | 59.84% |
| 2021-03-31 | 62.00% |
| 2020-12-31 | 61.21% |
| 2020-09-30 | 62.99% |
| 2020-06-30 | 64.10% |
| 2020-03-31 | 64.70% |
| 2019-12-31 | 65.45% |
| 2019-09-30 | 65.62% |
| 2019-06-30 | 63.55% |
| 2019-03-31 | 64.98% |
| 2018-12-31 | 63.09% |
| 2018-09-30 | 61.63% |
| 2018-06-30 | 62.82% |
| 2018-03-31 | 60.65% |
| 2017-12-31 | 66.67% |
| 2017-09-30 | 66.05% |
| 2017-06-30 | 67.52% |
| 2017-03-31 | 71.11% |
| 2016-12-31 | 68.84% |
| 2016-09-30 | 74.24% |
| 2016-06-30 | 76.14% |
| 2016-03-31 | 78.32% |
| 2015-12-31 | 74.82% |
| 2015-09-30 | 69.41% |
| 2015-06-30 | 66.86% |
| 2015-03-31 | 61.42% |
| 2014-12-31 | 63.14% |
| 2014-09-30 | 62.75% |
| 2014-06-30 | 62.83% |
| 2014-03-31 | 65.40% |
| 2013-12-31 | 61.58% |
| 2013-09-30 | 21.97% |
| 2013-06-30 | 18.89% |
| 2013-03-31 | 16.03% |
| 2012-12-31 | 15.19% |
| 2012-09-30 | 65.37% |
| 2012-06-30 | 110.35% |
| 2010-09-30 | 107.60% |
| 2010-06-30 | 69.15% |
| 2010-03-31 | 29.17% |
| 2009-12-31 | 40.99% |
| 2009-09-30 | 49.63% |
| 2009-06-30 | 66.64% |
| 2009-03-31 | 92.85% |
| 2008-12-31 | 82.46% |
| 2008-09-30 | 170.71% |
| 2008-06-30 | 153.30% |
| 2008-03-31 | 72.13% |
| 2007-12-31 | 129.69% |
| 2007-09-30 | 161.65% |
| 2022 |
| $1.22B |
| $805.31M |
| 66.3% |
| 2021 | $948.78M | $600.99M | 63.3% |
| 2020 | $764.14M | $467.76M | 61.2% |
| 2019 | $699.92M | $458.11M | 65.5% |
| 2018 | $673.50M | $424.91M | 63.1% |
| 2017 | $589.56M | $393.04M | 66.7% |
| 2016 | $534.29M | $367.82M | 68.8% |
| 2015 | $359.95M | $269.30M | 74.8% |
| 2014 | $332.75M | $210.09M | 63.1% |
| 2013 | $264.74M | $163.01M | 61.6% |
| 2012 | $212.51M | $88.29M | 41.5% |
| 2011 | $139.15M | $52.03M | 37.4% |
| 2010 | $102.87M | $42.44M | 41.3% |
| 2009 | $41.83M | $32.80M | 78.4% |
| 2008 | $96.05M | $79.12M | 82.4% |
| 2007 | $100.26M | $60.66M | 60.5% |
| 2006 | ($133.90M) | $50.01M | N/A (Loss) |
| 2005 | ($84.24M) | $34.59M | N/A (Loss) |
| 2004 | ($272.94M) | $10.56M | N/A (Loss) |
| 2003 | ($8.53M) | $0 | N/A (Loss) |
| 2002 | $1.61M | $0 | 0.0% |
| 2001 | ($4.46M) | $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.
