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 70.17% is 110% above its 1-year average of 33.44%, near the high end of its 1-year range (5.36%–70.17%).
As of the fiscal period ended Tuesday, March 31, 2026. 79.66% above its 12-month average of 39.06%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
70.17%
FCF PAYOUT RATIO AVG TTM
39.06%
FCF PAYOUT RATIO AVG 3Y
33.44%
FCF PAYOUT RATIO AVG 5Y
33.44%
FCF PAYOUT RATIO AVG 10Y
51.95%
FCF PAYOUT RATIO AVG 15Y
56.39%
FCF PAYOUT RATIO AVG 20Y
55.21%
CURRENT VS TTM AVG
+79.66%
CURRENT VS 3Y AVG
+109.83%
CURRENT VS 5Y AVG
+109.83%
CURRENT VS 10Y AVG
+35.06%
CURRENT VS 15Y AVG
+24.43%
CURRENT VS 20Y AVG
+27.09%
FCF Payout Ratio TTM
70.2%
Earnings Payout Ratio
31.8%
Dividend Yield
1.56%
FCF Yield
1.66%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $1.24B | $264.00M | 21.4% |
| 2024 | $2.00B | $107.00M | 5.4% |
| 2023 | $580.00M | $0 | 0.0% |
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 |
|---|---|
| 2026-03-31 | 70.17% |
| 2025-12-31 | 67.96% |
| 2025-09-30 | 32.38% |
| 2025-06-30 | 12.68% |
| 2025-03-31 | 12.09% |
| 2024-12-31 | 5.36% |
| 2019-12-31 | 87.13% |
| 2019-09-30 | 169.03% |
| 2019-06-30 | 131.70% |
| 2019-03-31 | 44.66% |
| 2018-09-30 | 105.97% |
| 2018-06-30 | 75.78% |
| 2018-03-31 | 55.00% |
| 2017-12-31 | 18.93% |
| 2017-09-30 | 17.15% |
| 2017-06-30 | 14.13% |
| 2017-03-31 | 61.22% |
| 2016-03-31 | 70.88% |
| 2015-12-31 | 84.14% |
| 2014-09-30 | 25.95% |
| 2014-06-30 | 24.33% |
| 2014-03-31 | 26.56% |
| 2013-12-31 | 22.16% |
| 2013-09-30 | 245.87% |
| 2013-06-30 | 100.31% |
| 2013-03-31 | 88.54% |
| 2012-12-31 | 130.44% |
| 2012-09-30 | 8.34% |
| 2012-06-30 | 314.03% |
| 2012-03-31 | 64.58% |
| 2011-12-31 | 7.69% |
| 2006-03-31 | 21.02% |
| 2005-12-31 | 17.43% |
| 2005-09-30 | 11.95% |
| 2005-06-30 | 12.64% |
| 2005-03-31 | 20.08% |
| 2004-12-31 | 23.42% |
| 2004-09-30 | 107.80% |
| 2003-06-30 | 57.31% |
| 2022 |
| ($2.23B) |
| $0 |
| N/A (Loss) |
| 2021 | ($4.11B) | $0 | N/A (Loss) |
| 2020 | ($5.70B) | $326.42M | N/A (Loss) |
| 2019 | $691.70M | $602.67M | 87.1% |
| 2018 | ($180.89M) | $527.49M | N/A (Loss) |
| 2017 | $2.31B | $437.45M | 18.9% |
| 2016 | $22.33M | $346.49M | n/m |
| 2015 | $333.03M | $280.21M | 84.1% |
| 2014 | ($67.64M) | $198.95M | N/A (Loss) |
| 2013 | $648.29M | $143.63M | 22.2% |
| 2012 | $90.23M | $117.71M | 130.4% |
| 2011 | $282.11M | $21.71M | 7.7% |
| 2010 | ($524.17M) | $0 | N/A (Loss) |
| 2009 | ($1.63B) | $0 | N/A (Loss) |
| 2008 | ($1.15B) | $128.04M | N/A (Loss) |
| 2007 | ($48.69M) | $98.30M | N/A (Loss) |
| 2006 | ($232.07M) | $124.46M | N/A (Loss) |
| 2005 | $681.46M | $118.76M | 17.4% |
| 2004 | $446.32M | $104.52M | 23.4% |
| 2003 | ($171.73M) | $98.32M | N/A (Loss) |
| 2002 | $180.48M | $100.13M | 55.5% |
| 2001 | ($1.10B) | $99.95M | N/A (Loss) |
| 2000 | ($582.33M) | $94.42M | N/A (Loss) |
| 1999 | ($389.12M) | $81.57M | N/A (Loss) |
| 1998 | ($124.59M) | $67.73M | N/A (Loss) |
| 1997 | ($824.50M) | $50.00M | N/A (Loss) |
| 1996 | ($422.90M) | $34.40M | 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.
