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 72.15% is in line with its 5-year average of 74.20%, around the middle of its 5-year range (55.51%–85.64%).
As of the fiscal period ended Tuesday, June 30, 2026. 5.87% below its 12-month average of 76.64%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
72.15%
FCF PAYOUT RATIO AVG TTM
76.64%
FCF PAYOUT RATIO AVG 3Y
81.16%
FCF PAYOUT RATIO AVG 5Y
74.20%
FCF PAYOUT RATIO AVG 10Y
69.10%
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-5.87%
CURRENT VS 3Y AVG
-11.11%
CURRENT VS 5Y AVG
-2.76%
CURRENT VS 10Y AVG
+4.41%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
72.1%
Earnings Payout Ratio
107.6%
Dividend Yield
3.26%
FCF Yield
4.39%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $1.45B | $1.11B | 76.5% |
| 2024 | $1.30B | $1.03B | 79.0% |
| 2023 | $1.20B | $990.00M | 82.3% |
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 |
|---|---|
| 2026-06-30 | 72.15% |
| 2026-03-31 | 74.06% |
| 2025-12-31 | 78.64% |
| 2025-09-30 | 80.05% |
| 2025-06-30 | 78.31% |
| 2025-03-31 | 84.84% |
| 2024-12-31 | 79.05% |
| 2024-09-30 | 81.53% |
| 2024-06-30 | 85.64% |
| 2024-03-31 | 79.87% |
| 2023-12-31 | 82.75% |
| 2023-09-30 | 80.51% |
| 2023-06-30 | 81.59% |
| 2023-03-31 | 77.44% |
| 2022-12-31 | 69.10% |
| 2022-09-30 | 66.28% |
| 2022-06-30 | 62.42% |
| 2022-03-31 | 61.27% |
| 2021-12-31 | 60.12% |
| 2021-09-30 | 67.01% |
| 2021-06-30 | 55.51% |
| 2021-03-31 | 105.13% |
| 2020-12-31 | 121.78% |
| 2020-09-30 | 90.31% |
| 2020-06-30 | 106.31% |
| 2020-03-31 | 67.00% |
| 2019-12-31 | 63.72% |
| 2019-09-30 | 65.75% |
| 2019-06-30 | 67.34% |
| 2019-03-31 | 62.27% |
| 2018-12-31 | 67.47% |
| 2018-09-30 | 62.36% |
| 2018-06-30 | 59.02% |
| 2018-03-31 | 64.29% |
| 2017-12-31 | 49.32% |
| 2017-09-30 | 52.44% |
| 2017-06-30 | 47.40% |
| 2017-03-31 | 41.81% |
| 2016-12-31 | 43.56% |
| 2016-09-30 | 46.36% |
| 2016-06-30 | 44.05% |
| 2016-03-31 | 47.42% |
| 2015-12-31 | 33.26% |
| 2015-09-30 | 36.53% |
| 2015-06-30 | 38.17% |
| 2015-03-31 | 23.91% |
| 2014-12-31 | 46.23% |
| 2014-09-30 | 25.02% |
| 2014-06-30 | 24.74% |
| 2014-03-31 | 26.11% |
| 2013-12-31 | 28.13% |
| 2013-09-30 | 24.23% |
| 2022 |
| $1.39B |
| $971.00M |
| 69.9% |
| 2021 | $1.62B | $974.00M | 60.1% |
| 2020 | $804.00M | $1.01B | 125.6% |
| 2019 | $1.41B | $901.00M | 63.7% |
| 2018 | $1.08B | $728.00M | 67.5% |
| 2017 | $1.35B | $663.50M | 49.3% |
| 2016 | $1.24B | $538.10M | 43.6% |
| 2015 | $1.09B | $362.40M | 33.3% |
| 2014 | $228.40M | $105.60M | 46.2% |
| 2013 | $299.70M | $84.30M | 28.1% |
| 2012 | $154.20M | $14.00M | 9.1% |
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.
