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 20.57% is 39% below its 5-year average of 34.00%, near the low end of its 5-year range (18.55%–685.98%).
As of the fiscal period ended Friday, July 31, 2026. 81.18% below its 12-month average of 109.31%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
20.57%
FCF PAYOUT RATIO AVG TTM
109.31%
FCF PAYOUT RATIO AVG 3Y
30.75%
FCF PAYOUT RATIO AVG 5Y
34.00%
FCF PAYOUT RATIO AVG 10Y
50.05%
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-81.18%
CURRENT VS 3Y AVG
-33.09%
CURRENT VS 5Y AVG
-39.48%
CURRENT VS 10Y AVG
-58.90%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
20.6%
Earnings Payout Ratio
29.0%
Dividend Yield
1.07%
FCF Yield
5.52%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $627.00M | $796.00M | 127.0% |
| 2024 | $1.97B | $676.00M | 34.2% |
| 2023 | $1.60B | $619.00M | 38.7% |
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 |
|---|---|
| 2026-07-31 | 20.57% |
| 2026-04-30 | 20.98% |
| 2026-01-31 | 38.02% |
| 2025-10-31 | 126.95% |
| 2025-07-31 | 340.00% |
| 2025-04-30 | 685.98% |
| 2025-01-31 | 42.66% |
| 2024-10-31 | 34.25% |
| 2024-07-31 | 24.30% |
| 2024-04-30 | 21.80% |
| 2024-01-31 | 24.02% |
| 2023-10-31 | 38.69% |
| 2023-07-31 | 42.17% |
| 2023-04-30 | 56.71% |
| 2023-01-31 | 113.50% |
| 2022-10-31 | 42.22% |
| 2022-07-31 | 38.49% |
| 2022-04-30 | 39.41% |
| 2022-01-31 | 28.17% |
| 2021-10-31 | 18.55% |
| 2021-07-31 | 46.91% |
| 2021-04-30 | 35.74% |
| 2021-01-31 | 64.68% |
| 2020-07-31 | 137.92% |
| 2020-04-30 | 374.69% |
| 2020-01-31 | 72.18% |
| 2019-10-31 | 53.29% |
| 2019-07-31 | 68.61% |
| 2019-04-30 | 78.47% |
| 2019-01-31 | 322.87% |
| 2017-01-31 | 194.95% |
| 2016-10-31 | 22.23% |
| 2015-10-31 | 6.31% |
| 2015-07-31 | 0.65% |
| 2015-04-30 | 0.50% |
| 2015-01-31 | 0.44% |
| 2022 |
| $1.47B |
| $621.00M |
| 42.2% |
| 2021 | $3.37B | $625.00M | 18.6% |
| 2020 | ($143.00M) | $618.00M | N/A (Loss) |
| 2019 | $1.14B | $608.00M | 53.3% |
| 2018 | $8.00M | $570.00M | n/m |
| 2017 | ($2.25B) | $428.00M | N/A (Loss) |
| 2016 | $1.68B | $373.00M | 22.2% |
| 2015 | $317.00M | $32.00M | 10.1% |
| 2014 | $3.29B | $37.00M | 1.1% |
| 2013 | $6.24B | $0 | 0.0% |
| 2012 | $3.77B | $0 | 0.0% |
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.
