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 55.37% is 17% below its 5-year average of 66.55%, near the low end of its 5-year range (22.94%–378.40%).
As of the fiscal period ended Tuesday, June 30, 2026. 68.40% below its 12-month average of 175.22%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
55.37%
FCF PAYOUT RATIO AVG TTM
175.22%
FCF PAYOUT RATIO AVG 3Y
75.88%
FCF PAYOUT RATIO AVG 5Y
66.55%
FCF PAYOUT RATIO AVG 10Y
60.86%
FCF PAYOUT RATIO AVG 15Y
57.66%
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-68.40%
CURRENT VS 3Y AVG
-27.03%
CURRENT VS 5Y AVG
-16.80%
CURRENT VS 10Y AVG
-9.02%
CURRENT VS 15Y AVG
-3.97%
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
55.4%
Earnings Payout Ratio
N/A
Dividend Yield
6.58%
FCF Yield
19.72%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $384.00M | $1.76B | 459.4% |
| 2024 | $1.98B | $1.72B | 86.9% |
| 2023 | $3.41B | $1.61B | 47.2% |
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 |
|---|---|
| 2026-06-30 | 55.37% |
| 2026-03-31 | 87.33% |
| 2025-12-31 | 116.80% |
| 2025-09-30 | 238.21% |
| 2025-06-30 | 378.40% |
| 2025-03-31 | 115.18% |
| 2024-12-31 | 86.87% |
| 2024-09-30 | 106.29% |
| 2024-06-30 | 64.83% |
| 2024-03-31 | 60.69% |
| 2023-12-31 | 47.20% |
| 2023-09-30 | 45.17% |
| 2023-06-30 | 48.96% |
| 2023-03-31 | 98.82% |
| 2022-12-31 | 76.76% |
| 2022-09-30 | 58.79% |
| 2022-06-30 | 52.30% |
| 2022-03-31 | 22.94% |
| 2021-12-31 | 25.91% |
| 2021-09-30 | 38.47% |
| 2021-06-30 | 55.73% |
| 2021-03-31 | 77.85% |
| 2020-12-31 | 96.43% |
| 2020-09-30 | 93.66% |
| 2020-06-30 | 62.89% |
| 2020-03-31 | 68.91% |
| 2019-12-31 | 64.49% |
| 2019-09-30 | 63.23% |
| 2019-06-30 | 70.05% |
| 2019-03-31 | 53.78% |
| 2018-12-31 | 46.17% |
| 2018-09-30 | 39.79% |
| 2018-06-30 | 36.92% |
| 2018-03-31 | 36.28% |
| 2017-12-31 | 38.67% |
| 2017-09-30 | 37.76% |
| 2017-06-30 | 42.43% |
| 2017-03-31 | 50.40% |
| 2016-12-31 | 41.48% |
| 2016-09-30 | 48.24% |
| 2016-06-30 | 39.68% |
| 2016-03-31 | 35.19% |
| 2015-12-31 | 32.03% |
| 2015-09-30 | 26.43% |
| 2015-06-30 | 27.94% |
| 2015-03-31 | 26.84% |
| 2014-12-31 | 30.84% |
| 2014-09-30 | 39.48% |
| 2014-06-30 | 34.84% |
| 2014-03-31 | 36.85% |
| 2013-12-31 | 34.42% |
| 2013-09-30 | 77.95% |
| 2013-06-30 | 62.35% |
| 2013-03-31 | 72.28% |
| 2012-12-31 | 64.49% |
| 2012-09-30 | 130.29% |
| 2012-06-30 | 158.63% |
| 2012-03-31 | 118.59% |
| 2011-12-31 | 155.91% |
| 2011-09-30 | 4.48% |
| 2022 |
| $4.23B |
| $3.25B |
| 76.8% |
| 2021 | $5.74B | $1.49B | 25.9% |
| 2020 | $1.46B | $1.41B | 96.4% |
| 2019 | $2.27B | $1.46B | 64.5% |
| 2018 | $3.37B | $1.55B | 46.2% |
| 2017 | $3.66B | $1.42B | 38.7% |
| 2016 | $3.36B | $1.40B | 41.5% |
| 2015 | $4.40B | $1.41B | 32.0% |
| 2014 | $4.55B | $1.40B | 30.8% |
| 2013 | $3.27B | $1.13B | 34.4% |
| 2012 | $3.73B | $2.42B | 64.8% |
| 2011 | $1.82B | $2.89B | 159.0% |
| 2010 | $1.33B | $0 | 0.0% |
| 2009 | ($1.57B) | $0 | N/A (Loss) |
| 2008 | $90.00M | $0 | 0.0% |
| 2007 | $769.00M | $522.00M | 67.9% |
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.
