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 15.63% is 23% below its 5-year average of 20.21%, near the low end of its 5-year range (15.63%–23.71%).
As of the fiscal period ended Friday, July 31, 2026. 13.45% below its 12-month average of 18.06%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
15.63%
FCF PAYOUT RATIO AVG TTM
18.06%
FCF PAYOUT RATIO AVG 3Y
19.70%
FCF PAYOUT RATIO AVG 5Y
20.21%
FCF PAYOUT RATIO AVG 10Y
21.93%
FCF PAYOUT RATIO AVG 15Y
21.00%
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-13.45%
CURRENT VS 3Y AVG
-20.66%
CURRENT VS 5Y AVG
-22.66%
CURRENT VS 10Y AVG
-28.73%
CURRENT VS 15Y AVG
-25.56%
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
15.6%
Earnings Payout Ratio
29.1%
Dividend Yield
1.44%
FCF Yield
9.52%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $8.62B | $1.35B | 15.6% |
| 2025 | $6.08B | $1.19B | 19.5% |
| 2024 | $4.63B | $1.03B | 22.3% |
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 | 15.63% |
| 2026-04-30 | 17.06% |
| 2026-01-31 | 18.64% |
| 2025-10-31 | 19.42% |
| 2025-07-31 | 19.55% |
| 2025-04-30 | 18.83% |
| 2025-01-31 | 19.78% |
| 2024-10-31 | 20.80% |
| 2024-07-31 | 22.31% |
| 2024-04-30 | 19.66% |
| 2024-01-31 | 20.51% |
| 2023-10-31 | 21.29% |
| 2023-07-31 | 18.58% |
| 2023-04-30 | 20.20% |
| 2023-01-31 | 20.79% |
| 2022-10-31 | 21.17% |
| 2022-07-31 | 21.15% |
| 2022-04-30 | 19.08% |
| 2022-01-31 | 23.71% |
| 2021-10-31 | 21.05% |
| 2021-07-31 | 20.67% |
| 2021-04-30 | 21.79% |
| 2021-01-31 | 25.00% |
| 2020-10-31 | 23.60% |
| 2020-07-31 | 24.64% |
| 2020-04-30 | 29.17% |
| 2020-01-31 | 24.39% |
| 2019-10-31 | 23.51% |
| 2019-07-31 | 23.10% |
| 2019-04-30 | 21.13% |
| 2019-01-31 | 22.55% |
| 2018-10-31 | 22.24% |
| 2018-07-31 | 20.47% |
| 2018-04-30 | 22.98% |
| 2018-01-31 | 25.22% |
| 2017-10-31 | 24.09% |
| 2017-07-31 | 25.79% |
| 2017-04-30 | 25.98% |
| 2017-01-31 | 29.85% |
| 2016-10-31 | 38.01% |
| 2016-07-31 | 36.18% |
| 2016-04-30 | 31.99% |
| 2016-01-31 | 36.40% |
| 2015-10-31 | 25.33% |
| 2015-07-31 | 22.77% |
| 2015-04-30 | 19.28% |
| 2015-01-31 | 18.99% |
| 2014-10-31 | 18.26% |
| 2014-07-31 | 17.67% |
| 2014-04-30 | 18.86% |
| 2014-01-31 | 17.57% |
| 2013-10-31 | 18.29% |
| 2013-07-31 | 17.52% |
| 2013-04-30 | 16.90% |
| 2013-01-31 | 19.23% |
| 2012-10-31 | 18.50% |
| 2012-07-31 | 16.95% |
| 2012-04-30 | 12.50% |
| 2012-01-31 | 9.53% |
| 2011-10-31 | 5.02% |
| 2023 |
| $4.79B |
| $889.00M |
| 18.6% |
| 2022 | $3.66B | $774.00M | 21.1% |
| 2021 | $3.13B | $646.00M | 20.7% |
| 2020 | $2.28B | $561.00M | 24.6% |
| 2019 | $2.17B | $501.00M | 23.1% |
| 2018 | $1.99B | $407.00M | 20.5% |
| 2017 | $1.37B | $353.00M | 25.8% |
| 2016 | $879.00M | $318.00M | 36.2% |
| 2015 | $1.24B | $283.00M | 22.8% |
| 2014 | $1.25B | $220.00M | 17.7% |
| 2013 | $1.16B | $203.00M | 17.5% |
| 2012 | $1.05B | $178.00M | 17.0% |
| 2011 | $785.00M | $0 | 0.0% |
| 2010 | $868.00M | $0 | 0.0% |
| 2009 | $629.91M | $0 | 0.0% |
| 2008 | $524.06M | $0 | 0.0% |
| 2007 | $573.50M | $0 | 0.0% |
| 2006 | $527.48M | $0 | 0.0% |
| 2005 | $559.52M | $0 | 0.0% |
| 2004 | $522.32M | $0 | 0.0% |
| 2003 | $519.04M | $0 | 0.0% |
| 2002 | $534.67M | $0 | 0.0% |
| 2001 | $156.11M | $0 | 0.0% |
| 2000 | ($88.88M) | $0 | N/A (Loss) |
| 1999 | ($471.00M) | $0 | N/A (Loss) |
| 1998 | ($315.60M) | $0 | N/A (Loss) |
| 1997 | $53.50M | $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.
