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 84.13% is 14% below its 5-year average of 97.64%, near the low end of its 5-year range (78.70%–117.80%).
As of the fiscal period ended Saturday, June 13, 2026. 13.79% below its 12-month average of 97.59%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
84.13%
FCF PAYOUT RATIO AVG TTM
97.59%
FCF PAYOUT RATIO AVG 3Y
99.05%
FCF PAYOUT RATIO AVG 5Y
97.64%
FCF PAYOUT RATIO AVG 10Y
88.03%
FCF PAYOUT RATIO AVG 15Y
76.48%
FCF PAYOUT RATIO AVG 20Y
70.50%
CURRENT VS TTM AVG
-13.79%
CURRENT VS 3Y AVG
-15.06%
CURRENT VS 5Y AVG
-13.83%
CURRENT VS 10Y AVG
-4.42%
CURRENT VS 15Y AVG
+10.01%
CURRENT VS 20Y AVG
+19.33%
FCF Payout Ratio TTM
84.1%
Earnings Payout Ratio
76.1%
Dividend Yield
4.22%
FCF Yield
4.93%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $7.67B | $7.64B | 99.6% |
| 2024 | $7.19B | $7.23B | 100.6% |
| 2023 | $7.92B | $6.68B | 84.3% |
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 |
|---|---|
| 2026-06-13 | 84.13% |
| 2026-03-21 | 87.33% |
| 2025-12-27 | 99.56% |
| 2025-09-06 | 111.26% |
| 2025-06-14 | 105.69% |
| 2025-03-22 | 101.05% |
| 2024-12-31 | 100.56% |
| 2024-09-07 | 114.66% |
| 2024-06-15 | 99.39% |
| 2024-03-23 | 94.46% |
| 2023-12-31 | 84.33% |
| 2023-09-09 | 93.95% |
| 2023-06-17 | 111.28% |
| 2023-03-25 | 117.80% |
| 2022-12-31 | 110.14% |
| 2022-09-03 | 95.14% |
| 2022-06-11 | 94.19% |
| 2022-03-19 | 78.70% |
| 2021-12-31 | 83.18% |
| 2021-09-04 | 85.95% |
| 2021-06-12 | 79.53% |
| 2021-03-20 | 87.11% |
| 2020-12-31 | 86.44% |
| 2020-09-05 | 85.30% |
| 2020-06-13 | 97.73% |
| 2020-03-21 | 107.04% |
| 2019-12-31 | 97.91% |
| 2019-09-07 | 86.80% |
| 2019-06-15 | 84.67% |
| 2019-03-23 | 72.81% |
| 2018-12-31 | 80.38% |
| 2018-09-08 | 85.30% |
| 2018-06-16 | 79.29% |
| 2018-03-24 | 77.11% |
| 2017-12-31 | 63.60% |
| 2017-09-09 | 63.60% |
| 2017-06-17 | 64.10% |
| 2017-03-25 | 59.92% |
| 2016-12-31 | 55.76% |
| 2016-09-03 | 53.84% |
| 2016-06-11 | 51.15% |
| 2016-03-19 | 52.99% |
| 2015-12-31 | 51.65% |
| 2015-09-05 | 51.15% |
| 2015-06-13 | 50.49% |
| 2015-03-21 | 48.84% |
| 2014-12-31 | 48.78% |
| 2014-09-06 | 52.62% |
| 2014-06-14 | 53.65% |
| 2014-03-22 | 55.24% |
| 2013-12-31 | 49.82% |
| 2013-09-07 | 46.99% |
| 2013-06-15 | 44.61% |
| 2013-03-23 | 46.30% |
| 2012-12-31 | 57.33% |
| 2012-09-08 | 60.24% |
| 2012-06-16 | 67.36% |
| 2012-03-24 | 68.87% |
| 2011-12-31 | 56.32% |
| 2011-09-03 | 53.15% |
| 2011-06-11 | 53.23% |
| 2011-03-19 | 49.96% |
| 2010-12-31 | 48.86% |
| 2010-09-04 | 52.85% |
| 2010-06-12 | 52.96% |
| 2010-03-20 | 53.38% |
| 2009-12-31 | 58.53% |
| 2009-09-05 | 59.09% |
| 2009-06-13 | 66.36% |
| 2009-03-21 | 68.82% |
| 2008-12-31 | 55.81% |
| 2008-09-06 | 64.50% |
| 2008-06-14 | 53.56% |
| 2008-03-22 | 53.17% |
| 2007-12-31 | 48.93% |
| 2007-09-08 | 43.93% |
| 2007-06-16 | 47.17% |
| 2007-03-24 | 43.18% |
| 2006-12-31 | 45.83% |
| 2006-09-09 | 50.55% |
| 2006-06-17 | 51.63% |
| 2006-03-25 | 48.13% |
| 2005-12-31 | 39.89% |
| 2005-09-03 | 36.22% |
| 2005-06-11 | 34.73% |
| 2005-03-19 | 38.92% |
| 2004-12-31 | 36.24% |
| 2004-09-04 | 36.63% |
| 2004-06-12 | 37.45% |
| 2004-03-20 | 31.92% |
| 2003-12-31 | 35.87% |
| 2003-09-30 | 32.65% |
| 2003-06-14 | 36.60% |
| 2022 |
| $5.60B |
| $6.17B |
| 110.1% |
| 2021 | $6.99B | $5.82B | 83.2% |
| 2020 | $6.37B | $5.51B | 86.4% |
| 2019 | $5.42B | $5.30B | 97.9% |
| 2018 | $6.13B | $4.93B | 80.4% |
| 2017 | $7.03B | $4.47B | 63.7% |
| 2016 | $7.36B | $4.23B | 57.4% |
| 2015 | $7.82B | $4.04B | 51.6% |
| 2014 | $7.65B | $3.73B | 48.8% |
| 2013 | $6.89B | $3.43B | 49.8% |
| 2012 | $5.76B | $3.31B | 57.3% |
| 2011 | $5.61B | $3.16B | 56.3% |
| 2010 | $5.20B | $2.98B | 57.3% |
| 2009 | $4.67B | $2.73B | 58.5% |
| 2008 | $4.55B | $2.54B | 55.8% |
| 2007 | $4.50B | $2.20B | 48.9% |
| 2006 | $4.02B | $1.85B | 46.2% |
| 2005 | $4.12B | $1.64B | 39.9% |
| 2004 | $3.67B | $1.33B | 36.2% |
| 2003 | $2.98B | $1.07B | 35.9% |
| 2002 | $3.19B | $1.04B | 32.6% |
| 2001 | $2.88B | $994.00M | 34.5% |
| 2000 | $3.09B | $949.00M | 30.7% |
| 1999 | $1.48B | $935.00M | 63.2% |
| 1998 | ($2.73B) | $757.00M | N/A (Loss) |
| 1997 | $8.15B | $736.00M | 9.0% |
| 1996 | $2.17B | $675.00M | 31.1% |
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.
