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 32.34% is 130% above its 5-year average of 14.06%, near the low end of its 5-year range (6.27%–99.23%).
As of the fiscal period ended Tuesday, June 30, 2026. 49.69% below its 12-month average of 64.29%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
32.34%
FCF PAYOUT RATIO AVG TTM
64.29%
FCF PAYOUT RATIO AVG 3Y
37.79%
FCF PAYOUT RATIO AVG 5Y
14.06%
FCF PAYOUT RATIO AVG 10Y
36.07%
FCF PAYOUT RATIO AVG 15Y
41.09%
FCF PAYOUT RATIO AVG 20Y
46.85%
CURRENT VS TTM AVG
-49.69%
CURRENT VS 3Y AVG
-14.42%
CURRENT VS 5Y AVG
+130.07%
CURRENT VS 10Y AVG
-10.32%
CURRENT VS 15Y AVG
-21.28%
CURRENT VS 20Y AVG
-30.97%
FCF Payout Ratio TTM
32.3%
Earnings Payout Ratio
17.8%
Dividend Yield
0.85%
FCF Yield
2.65%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | ($188.00M) | $512.00M | N/A (Loss) |
| 2024 | $806.00M | $522.00M | 64.8% |
| 2023 | $4.90B | $515.00M | 10.5% |
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 | 32.34% |
| 2026-04-04 | 96.24% |
| 2025-04-05 | 99.23% |
| 2024-12-31 | 64.76% |
| 2024-09-28 | 29.66% |
| 2024-06-29 | 15.71% |
| 2024-03-30 | 12.91% |
| 2023-12-31 | 10.51% |
| 2023-09-30 | 8.47% |
| 2023-07-01 | 8.11% |
| 2023-04-01 | 7.77% |
| 2022-12-31 | 6.57% |
| 2022-10-01 | 6.27% |
| 2022-07-02 | 7.08% |
| 2022-04-02 | 7.75% |
| 2021-12-31 | 10.49% |
| 2021-10-02 | 19.27% |
| 2021-07-03 | 27.96% |
| 2021-04-03 | 31.06% |
| 2020-12-31 | 42.62% |
| 2020-10-03 | 40.18% |
| 2020-07-04 | 35.94% |
| 2020-04-04 | 65.13% |
| 2019-12-31 | 36.94% |
| 2019-09-28 | 38.55% |
| 2019-06-29 | 33.90% |
| 2019-03-30 | 26.79% |
| 2018-12-31 | 34.39% |
| 2018-09-29 | 34.49% |
| 2018-06-30 | 50.96% |
| 2018-03-31 | 117.66% |
| 2017-12-31 | 79.98% |
| 2017-09-30 | 63.55% |
| 2017-07-01 | 72.63% |
| 2017-04-01 | 58.63% |
| 2016-12-31 | 42.09% |
| 2016-10-01 | 41.32% |
| 2016-07-02 | 34.24% |
| 2016-04-02 | 27.16% |
| 2015-12-31 | 26.89% |
| 2015-10-03 | 26.86% |
| 2015-07-04 | 28.11% |
| 2015-04-04 | 37.49% |
| 2014-12-31 | 70.40% |
| 2014-10-04 | 186.95% |
| 2013-06-29 | 877.93% |
| 2012-12-31 | 184.50% |
| 2012-09-29 | 62.16% |
| 2012-06-30 | 80.60% |
| 2012-03-31 | 67.93% |
| 2011-12-31 | 77.94% |
| 2011-10-01 | 52.27% |
| 2011-07-02 | 44.33% |
| 2011-04-02 | 87.73% |
| 2010-12-31 | 88.99% |
| 2010-10-02 | 358.41% |
| 2010-04-03 | 75.95% |
| 2009-12-31 | 80.77% |
| 2009-10-03 | 59.97% |
| 2009-07-04 | 65.31% |
| 2009-04-04 | 110.90% |
| 2008-12-31 | 80.13% |
| 2008-09-27 | 105.87% |
| 2008-06-28 | 69.92% |
| 2008-03-29 | 58.86% |
| 2007-12-31 | 51.32% |
| 2007-09-29 | 48.05% |
| 2007-06-30 | 44.50% |
| 2007-03-31 | 34.83% |
| 2006-12-31 | 30.21% |
| 2006-09-30 | 23.80% |
| 2006-07-01 | 14.58% |
| 2006-04-01 | 13.80% |
| 2005-12-31 | 11.62% |
| 2005-10-01 | 14.36% |
| 2005-07-02 | 21.98% |
| 2005-04-02 | 18.40% |
| 2004-12-31 | 21.44% |
| 2004-10-02 | 18.70% |
| 2004-07-03 | 15.13% |
| 2004-04-03 | 19.33% |
| 2003-12-31 | 22.44% |
| 2003-10-04 | 30.35% |
| 2003-07-05 | 43.82% |
| 2022 |
| $8.12B |
| $534.00M |
| 6.6% |
| 2021 | $4.61B | $483.47M | 10.5% |
| 2020 | $1.15B | $491.65M | 42.6% |
| 2019 | $1.33B | $492.06M | 36.9% |
| 2018 | $1.41B | $485.38M | 34.4% |
| 2017 | $606.78M | $485.32M | 80.0% |
| 2016 | $1.15B | $481.08M | 42.0% |
| 2015 | $1.79B | $479.43M | 26.7% |
| 2014 | $674.92M | $475.12M | 70.4% |
| 2013 | ($119.00M) | $471.03M | N/A (Loss) |
| 2012 | $252.78M | $466.36M | 184.5% |
| 2011 | $592.11M | $461.52M | 77.9% |
| 2010 | $528.11M | $457.28M | 86.6% |
| 2009 | $782.69M | $633.34M | 80.9% |
| 2008 | $1.48B | $933.13M | 63.1% |
| 2007 | $1.41B | $726.14M | 51.3% |
| 2006 | $1.91B | $577.82M | 30.2% |
| 2005 | $1.81B | $209.75M | 11.6% |
| 2004 | $738.83M | $69.68M | 9.4% |
| 2003 | $279.21M | $62.65M | 22.4% |
| 2002 | $253.62M | $59.38M | 23.4% |
| 2001 | $233.97M | $52.86M | 22.6% |
| 2000 | $405.35M | $48.21M | 11.9% |
| 1999 | $230.10M | $45.40M | 19.7% |
| 1998 | $139.00M | $42.10M | 30.3% |
| 1997 | $270.60M | $35.20M | 13.0% |
| 1996 | ($86.80M) | $28.10M | 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.
