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 61.06% is in line with its 5-year average of 58.79%, around the middle of its 5-year range (46.37%–74.57%).
As of the fiscal period ended Sunday, August 2, 2026. 6.48% below its 12-month average of 65.30%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
61.06%
FCF PAYOUT RATIO AVG TTM
65.30%
FCF PAYOUT RATIO AVG 3Y
57.09%
FCF PAYOUT RATIO AVG 5Y
58.79%
FCF PAYOUT RATIO AVG 10Y
51.40%
FCF PAYOUT RATIO AVG 15Y
45.87%
FCF PAYOUT RATIO AVG 20Y
45.46%
CURRENT VS TTM AVG
-6.48%
CURRENT VS 3Y AVG
+6.96%
CURRENT VS 5Y AVG
+3.86%
CURRENT VS 10Y AVG
+18.81%
CURRENT VS 15Y AVG
+33.13%
CURRENT VS 20Y AVG
+34.31%
FCF Payout Ratio TTM
61.1%
Earnings Payout Ratio
64.8%
Dividend Yield
2.88%
FCF Yield
4.72%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $12.65B | $9.15B | 72.4% |
| 2025 | $16.32B | $8.93B | 54.7% |
| 2024 | $17.95B | $8.38B | 46.7% |
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 |
|---|---|
| 2026-08-02 | 61.06% |
| 2026-05-03 | 64.17% |
| 2026-02-01 | 72.37% |
| 2025-11-02 | 65.33% |
| 2025-08-03 | 63.55% |
| 2025-05-04 | 59.14% |
| 2025-02-02 | 54.70% |
| 2024-10-27 | 52.75% |
| 2024-07-28 | 51.42% |
| 2024-04-28 | 47.49% |
| 2024-01-31 | 46.71% |
| 2023-10-29 | 46.37% |
| 2023-07-30 | 49.75% |
| 2023-04-30 | 60.56% |
| 2023-01-31 | 67.75% |
| 2022-10-30 | 74.57% |
| 2022-07-31 | 68.01% |
| 2022-05-01 | 63.45% |
| 2022-01-31 | 49.88% |
| 2021-10-31 | 56.78% |
| 2021-08-01 | 58.81% |
| 2021-05-02 | 38.89% |
| 2021-01-31 | 39.39% |
| 2020-11-01 | 34.74% |
| 2020-08-02 | 35.02% |
| 2020-05-03 | 49.38% |
| 2020-01-31 | 53.32% |
| 2019-11-03 | 50.42% |
| 2019-08-04 | 48.05% |
| 2019-05-05 | 44.76% |
| 2019-01-31 | 44.39% |
| 2018-10-28 | 45.53% |
| 2018-07-29 | 44.85% |
| 2018-04-29 | 45.83% |
| 2018-01-31 | 41.56% |
| 2017-10-29 | 41.03% |
| 2017-07-30 | 42.41% |
| 2017-04-30 | 40.31% |
| 2017-01-31 | 41.71% |
| 2016-10-30 | 39.60% |
| 2016-07-31 | 36.46% |
| 2016-05-01 | 38.57% |
| 2016-01-31 | 38.51% |
| 2015-11-01 | 37.08% |
| 2015-08-02 | 37.67% |
| 2015-05-03 | 34.90% |
| 2015-01-31 | 37.21% |
| 2014-11-02 | 37.96% |
| 2014-08-03 | 35.21% |
| 2014-05-04 | 37.90% |
| 2014-01-31 | 35.95% |
| 2013-11-03 | 34.45% |
| 2013-08-04 | 33.04% |
| 2013-05-05 | 32.23% |
| 2013-01-31 | 30.78% |
| 2012-10-28 | 34.75% |
| 2012-07-29 | 33.46% |
| 2012-04-29 | 28.88% |
| 2012-01-31 | 30.06% |
| 2011-10-30 | 31.05% |
| 2011-07-31 | 34.59% |
| 2011-05-01 | 44.74% |
| 2011-01-31 | 44.97% |
| 2010-10-31 | 46.58% |
| 2010-08-01 | 37.58% |
| 2010-05-02 | 34.47% |
| 2010-01-31 | 36.67% |
| 2009-11-01 | 34.68% |
| 2009-08-02 | 38.73% |
| 2009-05-03 | 42.49% |
| 2009-01-31 | 41.32% |
| 2008-11-02 | 52.27% |
| 2008-08-03 | 78.68% |
| 2008-05-04 | 75.01% |
| 2008-01-31 | 78.79% |
| 2007-10-28 | 58.29% |
| 2007-07-29 | 50.23% |
| 2007-04-29 | 52.49% |
| 2007-01-31 | 31.46% |
| 2006-10-29 | 37.58% |
| 2006-07-30 | 31.59% |
| 2006-04-30 | 32.40% |
| 2006-01-31 | 36.84% |
| 2005-10-30 | 31.53% |
| 2005-07-31 | 45.30% |
| 2005-05-01 | 25.72% |
| 2005-01-31 | 24.32% |
| 2004-10-31 | 28.76% |
| 2004-08-01 | 18.05% |
| 2004-05-02 | 21.28% |
| 2004-01-31 | 24.40% |
| 2003-11-02 | 19.54% |
| 2003-08-03 | 32.26% |
| 2023 |
| $11.50B |
| $7.79B |
| 67.8% |
| 2022 | $14.01B | $6.99B | 49.9% |
| 2021 | $16.38B | $6.45B | 39.4% |
| 2020 | $11.04B | $5.96B | 53.9% |
| 2019 | $10.72B | $4.70B | 43.9% |
| 2018 | $10.13B | $4.21B | 41.6% |
| 2017 | $8.16B | $3.40B | 41.7% |
| 2016 | $7.87B | $3.03B | 38.5% |
| 2015 | $6.80B | $2.53B | 37.2% |
| 2014 | $6.24B | $2.24B | 36.0% |
| 2013 | $5.66B | $1.74B | 30.8% |
| 2012 | $5.43B | $1.63B | 30.1% |
| 2011 | $3.49B | $1.57B | 45.0% |
| 2010 | $4.16B | $1.52B | 36.7% |
| 2009 | $3.68B | $1.52B | 41.3% |
| 2008 | $2.17B | $1.71B | 78.8% |
| 2007 | $4.12B | $1.40B | 33.9% |
| 2006 | $2.74B | $857.00M | 31.3% |
| 2005 | $2.96B | $719.00M | 24.3% |
| 2004 | $2.44B | $595.00M | 24.4% |
| 2003 | $2.05B | $492.00M | 24.0% |
| 2002 | $2.57B | $396.00M | 15.4% |
| 2001 | ($762.00M) | $371.00M | N/A (Loss) |
| 2000 | ($135.00M) | $255.00M | N/A (Loss) |
| 1999 | ($403.00M) | $168.00M | N/A (Loss) |
| 1998 | ($452.00M) | $139.00M | N/A (Loss) |
| 1997 | ($94.30M) | $110.00M | 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.
