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 19.43% is 22% above its 5-year average of 15.90%, around the middle of its 5-year range (10.35%–31.17%).
As of the fiscal period ended Tuesday, June 30, 2020. 14.82% above its 12-month average of 16.92%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
19.43%
FCF PAYOUT RATIO AVG TTM
16.92%
FCF PAYOUT RATIO AVG 3Y
14.32%
FCF PAYOUT RATIO AVG 5Y
13.79%
FCF PAYOUT RATIO AVG 10Y
9.39%
FCF PAYOUT RATIO AVG 15Y
8.56%
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+14.82%
CURRENT VS 3Y AVG
+35.63%
CURRENT VS 5Y AVG
+40.86%
CURRENT VS 10Y AVG
+106.80%
CURRENT VS 15Y AVG
+126.83%
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
19.4%
Earnings Payout Ratio
87.8%
Dividend Yield
1.53%
FCF Yield
N/A
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | ($831.00M) | $399.00M | N/A (Loss) |
| 2024 | ($1.62B) | $430.00M | N/A (Loss) |
| 2023 | ($356.00M) | $428.00M | 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 |
|---|---|
| 2020-06-30 | 19.43% |
| 2020-03-31 | 27.02% |
| 2019-12-31 | 12.57% |
| 2019-09-30 | 13.08% |
| 2019-06-30 | 12.50% |
| 2019-03-31 | 10.99% |
| 2018-12-31 | 11.38% |
| 2018-09-30 | 13.28% |
| 2018-06-30 | 15.55% |
| 2018-03-31 | 27.51% |
| 2017-12-31 | 16.31% |
| 2017-09-30 | 16.71% |
| 2017-06-30 | 15.75% |
| 2017-03-31 | 11.64% |
| 2016-12-31 | 10.35% |
| 2016-09-30 | 13.49% |
| 2016-06-30 | 11.23% |
| 2016-03-31 | 13.87% |
| 2015-12-31 | 16.42% |
| 2015-09-30 | 13.69% |
| 2015-06-30 | 31.17% |
| 2015-03-31 | 13.57% |
| 2014-12-31 | 13.07% |
| 2014-09-30 | 11.51% |
| 2014-06-30 | 8.07% |
| 2014-03-31 | 8.56% |
| 2013-12-31 | 6.79% |
| 2013-09-30 | 6.91% |
| 2013-06-30 | 5.52% |
| 2013-03-31 | 44.12% |
| 2012-12-31 | 3.07% |
| 2012-09-30 | 2.55% |
| 2012-06-30 | 5.73% |
| 2012-03-31 | 2.45% |
| 2011-12-31 | 3.66% |
| 2011-09-30 | 2.43% |
| 2011-06-30 | 0.96% |
| 2011-03-31 | 0.74% |
| 2010-12-31 | 1.21% |
| 2010-09-30 | 1.02% |
| 2010-06-30 | 1.50% |
| 2010-03-31 | 3.00% |
| 2009-12-31 | 3.24% |
| 2008-09-30 | 1.30% |
| 2008-06-30 | 0.39% |
| 2008-03-31 | 0.77% |
| 2007-12-31 | 0.92% |
| 2007-09-30 | 2.50% |
| 2007-06-30 | 60.87% |
| 2006-12-31 | 200.00% |
| 2006-09-30 | 19.18% |
| 2006-06-30 | 1.26% |
| 2006-03-31 | 1.34% |
| 2005-12-31 | 1.37% |
| 2005-09-30 | 1.99% |
| 2005-06-30 | 5.98% |
| 2004-03-31 | 17.28% |
| 2003-12-31 | 14.29% |
| 2003-09-30 | 18.85% |
| 2003-06-30 | 8.45% |
| 2022 |
| ($156.00M) |
| $0 |
| N/A (Loss) |
| 2021 | $1.81B | $0 | 0.0% |
| 2020 | ($1.64B) | $188.00M | N/A (Loss) |
| 2019 | $2.96B | $372.00M | 12.6% |
| 2018 | $2.92B | $332.00M | 11.4% |
| 2017 | $1.68B | $274.00M | 16.3% |
| 2016 | $2.15B | $222.00M | 10.3% |
| 2015 | $1.09B | $180.00M | 16.4% |
| 2014 | $1.07B | $139.00M | 12.9% |
| 2013 | $1.04B | $71.00M | 6.8% |
| 2012 | $716.00M | $22.00M | 3.1% |
| 2011 | $417.00M | $14.00M | 3.4% |
| 2010 | $1.07B | $13.00M | 1.2% |
| 2009 | $400.00M | $13.00M | 3.3% |
| 2008 | ($2.44B) | $13.00M | N/A (Loss) |
| 2007 | $1.51B | $14.00M | 0.9% |
| 2006 | $7.00M | $14.00M | 200.0% |
| 2005 | $1.02B | $14.00M | 1.4% |
| 2004 | ($618.00M) | $14.00M | N/A (Loss) |
| 2003 | $98.00M | $14.00M | 14.3% |
| 2002 | ($82.85M) | $13.87M | N/A (Loss) |
| 2001 | $486.76M | $13.44M | 2.8% |
| 2000 | $163.64M | $10.98M | 6.7% |
| 1999 | ($166.12M) | $10.84M | N/A (Loss) |
| 1998 | ($60.96M) | $9.28M | N/A (Loss) |
| 1997 | ($78.34M) | $6.59M | N/A (Loss) |
| 1996 | ($62.20M) | $6.22M | 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.
