Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
The FCF payout ratio is 137.33% as of the fiscal period ended Tuesday, June 30, 2026.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
137.33%
FCF PAYOUT RATIO AVG TTM
87.82%
FCF PAYOUT RATIO AVG 3Y
75.91%
FCF PAYOUT RATIO AVG 5Y
77.18%
FCF PAYOUT RATIO AVG 10Y
80.09%
FCF PAYOUT RATIO AVG 15Y
81.89%
FCF PAYOUT RATIO AVG 20Y
82.79%
CURRENT VS TTM AVG
+56.37%
CURRENT VS 3Y AVG
+80.91%
CURRENT VS 5Y AVG
+77.94%
CURRENT VS 10Y AVG
+71.46%
CURRENT VS 15Y AVG
+67.69%
CURRENT VS 20Y AVG
+65.88%
FCF Payout Ratio TTM
137.3%
Earnings Payout Ratio
236.6%
Dividend Yield
5.29%
FCF Yield
3.81%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $3.99B | $2.92B | 73.1% |
| 2024 | $3.45B | $2.70B | 78.2% |
| 2023 | $2.89B | $2.11B | 73.1% |
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 | 137.33% |
| 2026-03-31 | 73.16% |
| 2025-12-31 | 73.12% |
| 2025-09-30 | 76.98% |
| 2025-06-30 | 78.54% |
| 2025-03-31 | 79.88% |
| 2024-12-31 | 78.20% |
| 2024-09-30 | 78.76% |
| 2024-06-30 | 76.46% |
| 2024-03-31 | 76.61% |
| 2023-12-31 | 73.07% |
| 2023-09-30 | 73.63% |
| 2023-06-30 | 72.50% |
| 2023-03-31 | 69.72% |
| 2022-12-31 | 73.47% |
| 2022-09-30 | 77.50% |
| 2022-06-30 | 78.30% |
| 2022-03-31 | 87.53% |
| 2021-12-31 | 89.71% |
| 2021-09-30 | 82.56% |
| 2021-06-30 | 86.36% |
| 2021-03-31 | 89.28% |
| 2020-12-31 | 87.11% |
| 2020-09-30 | 86.70% |
| 2020-06-30 | 84.74% |
| 2020-03-31 | 80.28% |
| 2019-12-31 | 81.51% |
| 2019-09-30 | 81.84% |
| 2019-06-30 | 85.45% |
| 2019-03-31 | 83.63% |
| 2018-12-31 | 83.20% |
| 2018-09-30 | 82.70% |
| 2018-06-30 | 83.88% |
| 2018-03-31 | 84.57% |
| 2017-12-31 | 80.81% |
| 2017-09-30 | 80.44% |
| 2017-06-30 | 75.72% |
| 2017-03-31 | 75.25% |
| 2016-12-31 | 80.35% |
| 2016-09-30 | 78.04% |
| 2016-06-30 | 82.05% |
| 2016-03-31 | 81.74% |
| 2015-12-31 | 80.94% |
| 2015-09-30 | 82.12% |
| 2015-06-30 | 82.04% |
| 2015-03-31 | 83.49% |
| 2014-12-31 | 82.45% |
| 2014-09-30 | 83.05% |
| 2014-06-30 | 82.87% |
| 2014-03-31 | 83.14% |
| 2013-12-31 | 86.94% |
| 2013-09-30 | 86.52% |
| 2013-06-30 | 90.16% |
| 2013-03-31 | 91.71% |
| 2012-12-31 | 84.48% |
| 2012-09-30 | 87.20% |
| 2012-06-30 | 81.88% |
| 2012-03-31 | 82.13% |
| 2011-12-31 | 91.26% |
| 2011-09-30 | 91.94% |
| 2011-06-30 | 93.88% |
| 2011-03-31 | 98.53% |
| 2010-12-31 | 96.32% |
| 2010-09-30 | 163.63% |
| 2010-06-30 | 166.82% |
| 2010-03-31 | 168.94% |
| 2009-12-31 | 149.65% |
| 2009-09-30 | 92.42% |
| 2009-06-30 | 103.19% |
| 2009-03-31 | 97.61% |
| 2008-12-31 | 342.36% |
| 2003-06-30 | 160.89% |
| 2022 |
| $2.47B |
| $1.81B |
| 73.5% |
| 2021 | $1.30B | $1.17B | 89.7% |
| 2020 | $1.11B | $964.17M | 87.1% |
| 2019 | $1.05B | $852.13M | 81.5% |
| 2018 | $915.39M | $761.58M | 83.2% |
| 2017 | $860.60M | $695.46M | 80.8% |
| 2016 | $790.62M | $637.60M | 80.6% |
| 2015 | $680.76M | $560.32M | 82.3% |
| 2014 | $621.66M | $517.56M | 83.3% |
| 2013 | $510.40M | $451.15M | 88.4% |
| 2012 | $319.92M | $275.79M | 86.2% |
| 2011 | $298.95M | $243.55M | 81.5% |
| 2010 | $243.37M | $206.75M | 85.0% |
| 2009 | $226.71M | $202.26M | 89.2% |
| 2008 | $246.16M | $193.91M | 78.8% |
| 2007 | $318.17M | $182.24M | 57.3% |
| 2006 | $86.94M | $139.07M | 160.0% |
| 2005 | $109.56M | $117.98M | 107.7% |
| 2004 | $178.34M | $106.48M | 59.7% |
| 2003 | $73.96M | $93.56M | 126.5% |
| 2002 | $124.81M | $87.75M | 70.3% |
| 2001 | $90.03M | $74.58M | 82.8% |
| 2000 | $0.45M | $67.97M | n/m |
| 1999 | ($101.90M) | $61.15M | N/A (Loss) |
| 1998 | ($127.94M) | $52.30M | N/A (Loss) |
| 1997 | ($87.70M) | $0 | N/A (Loss) |
| 1996 | ($7.63M) | $48.10M | 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.
