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 57.27% is 69% below its 4-year average of 183.59%, near the low end of its 4-year range (40.09%–368.26%).
As of the fiscal period ended Tuesday, March 31, 2026. 22.07% above its 12-month average of 46.92%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
57.27%
FCF PAYOUT RATIO AVG TTM
46.92%
FCF PAYOUT RATIO AVG 3Y
46.92%
FCF PAYOUT RATIO AVG 5Y
183.59%
FCF PAYOUT RATIO AVG 10Y
138.03%
FCF PAYOUT RATIO AVG 15Y
132.61%
FCF PAYOUT RATIO AVG 20Y
138.30%
CURRENT VS TTM AVG
+22.07%
CURRENT VS 3Y AVG
+22.07%
CURRENT VS 5Y AVG
-68.81%
CURRENT VS 10Y AVG
-58.51%
CURRENT VS 15Y AVG
-56.81%
CURRENT VS 20Y AVG
-58.59%
FCF Payout Ratio TTM
57.3%
Earnings Payout Ratio
101.7%
Dividend Yield
3.61%
FCF Yield
6.20%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | ($1.00B) | $1.02B | N/A (Loss) |
| 2024 | ($1.14B) | $970.00M | N/A (Loss) |
| 2023 | ($1.97B) | $906.00M | 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 |
|---|---|
| 2026-03-31 | 57.27% |
| 2025-12-31 | 40.09% |
| 2025-09-30 | 43.39% |
| 2022-06-30 | 228.35% |
| 2022-03-31 | 315.81% |
| 2021-12-31 | 231.97% |
| 2021-09-30 | 368.26% |
| 2017-12-31 | 62.52% |
| 2017-09-30 | 75.66% |
| 2017-06-30 | 101.13% |
| 2017-03-31 | 106.92% |
| 2016-12-31 | 200.99% |
| 2016-09-30 | 103.21% |
| 2016-06-30 | 65.77% |
| 2016-03-31 | 69.06% |
| 2015-12-31 | 109.76% |
| 2015-09-30 | 314.51% |
| 2011-12-31 | 112.23% |
| 2011-09-30 | 67.77% |
| 2011-06-30 | 55.11% |
| 2011-03-31 | 55.01% |
| 2010-12-31 | 60.20% |
| 2010-09-30 | 68.44% |
| 2010-03-31 | 190.88% |
| 2009-12-31 | 255.73% |
| 2009-06-30 | 113.54% |
| 2008-03-31 | 811.69% |
| 2007-09-30 | 154.68% |
| 2007-06-30 | 259.05% |
| 2007-03-31 | 200.34% |
| 2006-12-31 | 93.91% |
| 2006-09-30 | 525.69% |
| 2006-06-30 | 155.01% |
| 2006-03-31 | 89.15% |
| 2005-12-31 | 53.95% |
| 2005-09-30 | 44.70% |
| 2005-06-30 | 59.80% |
| 2005-03-31 | 58.70% |
| 2004-12-31 | 47.65% |
| 2004-09-30 | 38.12% |
| 2004-06-30 | 28.53% |
| 2004-03-31 | 33.92% |
| 2003-12-31 | 41.32% |
| 2003-09-30 | 43.33% |
| 2003-06-30 | 65.58% |
| 2003-03-31 | 49.66% |
| 2022 |
| ($73.00M) |
| $891.00M |
| N/A (Loss) |
| 2021 | $366.00M | $849.00M | 232.0% |
| 2020 | ($1.23B) | $845.00M | N/A (Loss) |
| 2019 | ($198.00M) | $820.00M | N/A (Loss) |
| 2018 | ($1.26B) | $772.00M | N/A (Loss) |
| 2017 | $967.00M | $639.00M | 66.1% |
| 2016 | $304.00M | $611.00M | 201.0% |
| 2015 | $553.00M | $607.00M | 109.8% |
| 2014 | ($832.00M) | $604.00M | N/A (Loss) |
| 2013 | ($226.00M) | $920.00M | N/A (Loss) |
| 2012 | ($644.00M) | $920.00M | N/A (Loss) |
| 2011 | $785.00M | $881.00M | 112.2% |
| 2010 | $1.11B | $670.00M | 60.2% |
| 2009 | $262.00M | $670.00M | 255.7% |
| 2008 | ($669.00M) | $671.00M | N/A (Loss) |
| 2007 | $61.00M | $616.00M | n/m |
| 2006 | $624.00M | $586.00M | 93.9% |
| 2005 | $1.01B | $546.00M | 54.0% |
| 2004 | $1.03B | $491.00M | 47.6% |
| 2003 | $1.10B | $453.00M | 41.3% |
| 2002 | $917.56M | $439.63M | 47.9% |
| 2001 | $429.24M | $334.63M | 78.0% |
| 2000 | $920.21M | $334.22M | 36.3% |
| 1999 | $863.40M | $341.50M | 39.6% |
| 1998 | $502.40M | $339.10M | 67.5% |
| 1997 | $652.60M | $237.80M | 36.4% |
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.
