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 80.88% is 43% above its 5-year average of 56.40%, near the high end of its 5-year range (48.15%–80.88%).
As of the fiscal period ended Sunday, May 31, 2026. 8.42% above its 12-month average of 74.60%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
80.88%
FCF PAYOUT RATIO AVG TTM
74.60%
FCF PAYOUT RATIO AVG 3Y
60.14%
FCF PAYOUT RATIO AVG 5Y
56.40%
FCF PAYOUT RATIO AVG 10Y
53.99%
FCF PAYOUT RATIO AVG 15Y
52.90%
FCF PAYOUT RATIO AVG 20Y
50.58%
CURRENT VS TTM AVG
+8.42%
CURRENT VS 3Y AVG
+34.48%
CURRENT VS 5Y AVG
+43.39%
CURRENT VS 10Y AVG
+49.79%
CURRENT VS 15Y AVG
+52.90%
CURRENT VS 20Y AVG
+59.91%
FCF Payout Ratio TTM
80.9%
Earnings Payout Ratio
N/A
Dividend Yield
6.47%
FCF Yield
8.04%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $1.63B | $1.32B | 80.9% |
| 2025 | $2.29B | $1.34B | 58.4% |
| 2024 | $2.53B | $1.36B | 53.9% |
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 |
|---|---|
| 2026-05-31 | 80.88% |
| 2026-02-22 | 79.84% |
| 2025-11-23 | 74.14% |
| 2025-08-24 | 63.52% |
| 2025-05-25 | 58.38% |
| 2025-02-23 | 54.26% |
| 2024-11-24 | 48.15% |
| 2024-08-25 | 48.73% |
| 2024-05-26 | 53.92% |
| 2024-02-25 | 56.98% |
| 2023-11-26 | 57.44% |
| 2023-08-27 | 64.68% |
| 2023-05-31 | 61.65% |
| 2023-02-26 | 58.05% |
| 2022-11-27 | 60.02% |
| 2022-08-28 | 52.43% |
| 2022-05-31 | 52.58% |
| 2022-02-27 | 50.56% |
| 2021-11-28 | 49.57% |
| 2021-08-29 | 55.78% |
| 2021-05-31 | 50.82% |
| 2021-02-28 | 38.69% |
| 2020-11-29 | 39.04% |
| 2020-08-30 | 37.74% |
| 2020-05-31 | 37.19% |
| 2020-02-23 | 47.73% |
| 2019-11-24 | 49.03% |
| 2019-08-25 | 52.09% |
| 2019-05-31 | 52.07% |
| 2019-02-24 | 54.98% |
| 2018-11-25 | 56.65% |
| 2018-08-26 | 51.35% |
| 2018-05-31 | 51.38% |
| 2018-02-25 | 49.29% |
| 2017-11-26 | 49.43% |
| 2017-08-27 | 56.82% |
| 2017-05-31 | 65.64% |
| 2017-02-26 | 66.69% |
| 2016-11-27 | 62.07% |
| 2016-08-28 | 59.76% |
| 2016-05-31 | 56.39% |
| 2016-02-28 | 49.47% |
| 2015-11-29 | 48.68% |
| 2015-08-30 | 53.27% |
| 2015-05-31 | 55.60% |
| 2015-02-22 | 61.29% |
| 2014-11-23 | 59.22% |
| 2014-08-24 | 54.98% |
| 2014-05-31 | 52.37% |
| 2014-02-23 | 50.12% |
| 2013-11-24 | 46.16% |
| 2013-08-25 | 40.40% |
| 2013-05-31 | 37.52% |
| 2013-02-24 | 38.28% |
| 2012-11-25 | 44.14% |
| 2012-08-26 | 46.17% |
| 2012-05-31 | 46.24% |
| 2012-02-26 | 60.53% |
| 2011-11-27 | 52.43% |
| 2011-08-28 | 65.35% |
| 2011-05-31 | 83.08% |
| 2011-02-27 | 58.59% |
| 2010-11-28 | 62.41% |
| 2010-08-29 | 47.05% |
| 2010-05-31 | 42.04% |
| 2010-02-28 | 38.13% |
| 2009-11-29 | 31.96% |
| 2009-08-30 | 44.66% |
| 2009-05-31 | 45.79% |
| 2009-02-22 | 41.73% |
| 2008-11-23 | 52.58% |
| 2008-08-24 | 40.32% |
| 2008-05-31 | 43.85% |
| 2008-02-24 | 51.59% |
| 2007-11-25 | 45.28% |
| 2007-08-26 | 42.41% |
| 2007-05-31 | 38.82% |
| 2007-02-25 | 38.46% |
| 2006-11-26 | 41.83% |
| 2006-08-27 | 35.67% |
| 2006-05-31 | 33.87% |
| 2006-02-26 | 30.18% |
| 2005-11-27 | 29.49% |
| 2005-08-28 | 32.41% |
| 2005-05-31 | 35.54% |
| 2005-02-27 | 36.44% |
| 2004-11-28 | 35.72% |
| 2004-08-29 | 43.20% |
| 2004-05-31 | 49.58% |
| 2004-02-22 | 65.97% |
| 2003-11-23 | 95.12% |
| 2003-08-24 | 73.20% |
| 2003-05-31 | 44.13% |
| 2023 |
| $2.09B |
| $1.29B |
| 61.6% |
| 2022 | $2.75B | $1.24B | 45.3% |
| 2021 | $2.45B | $1.25B | 50.8% |
| 2020 | $3.22B | $1.20B | 37.2% |
| 2019 | $2.27B | $1.18B | 52.1% |
| 2018 | $2.22B | $1.14B | 51.4% |
| 2017 | $1.73B | $1.14B | 65.6% |
| 2016 | $2.03B | $1.07B | 52.7% |
| 2015 | $1.83B | $1.02B | 55.6% |
| 2014 | $1.88B | $983.30M | 52.4% |
| 2013 | $2.31B | $867.60M | 37.5% |
| 2012 | $1.73B | $800.10M | 46.2% |
| 2011 | $882.30M | $729.40M | 82.7% |
| 2010 | $1.53B | $643.70M | 42.0% |
| 2009 | $1.27B | $579.50M | 45.8% |
| 2008 | $1.21B | $529.70M | 43.9% |
| 2007 | $1.29B | $506.00M | 39.2% |
| 2006 | $1.48B | $485.00M | 32.7% |
| 2005 | $1.36B | $461.00M | 33.9% |
| 2004 | $833.00M | $413.00M | 49.6% |
| 2003 | $920.00M | $406.00M | 44.1% |
| 2002 | $407.00M | $358.00M | 88.0% |
| 2001 | $429.00M | $312.40M | 72.8% |
| 2000 | $420.00M | $329.20M | 78.4% |
| 1999 | $405.30M | $331.40M | 81.8% |
| 1998 | $585.90M | $336.30M | 57.4% |
| 1997 | $424.80M | $320.70M | 75.5% |
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.
