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 2.32% is 76% below its 5-year average of 9.74%, near the low end of its 5-year range (1.31%–111.38%).
As of the fiscal period ended Tuesday, June 30, 2026. 6.65% above its 12-month average of 2.17%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
2.32%
FCF PAYOUT RATIO AVG TTM
2.17%
FCF PAYOUT RATIO AVG 3Y
6.92%
FCF PAYOUT RATIO AVG 5Y
9.74%
FCF PAYOUT RATIO AVG 10Y
14.72%
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+6.65%
CURRENT VS 3Y AVG
-66.53%
CURRENT VS 5Y AVG
-76.24%
CURRENT VS 10Y AVG
-84.27%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
2.3%
Earnings Payout Ratio
N/A
Dividend Yield
N/A
FCF Yield
5.38%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $17.11B | $1.16B | 6.8% |
| 2024 | $8.84B | $556.12M | 6.3% |
| 2023 | ($3.11B) | $634.04M | N/A (Loss) |
| 2022 | ($3.93B) | $1.33B | N/A (Loss) |
| 2021 | $5.30B | $669.84M | 12.6% |
| 2020 | $1.33B | $627.91M | 47.3% |
| 2019 | ($6.93B) | $884.41M | N/A (Loss) |
| 2018 | $4.70B | $631.17M | 13.4% |
| 2017 | $4.46B | $395.22M | 8.9% |
| 2016 | ($772.75M) | $290.87M | N/A (Loss) |
| 2015 | $1.62B | $184.33M | 11.4% |
| 2014 | $664.74M | $0 | 0.0% |
| 2013 | $2.70B | $0 | 0.0% |
| 2012 | ($1.61B) | $0 | N/A (Loss) |
| 2011 | ($762.24M) | $75.97M | N/A (Loss) |
| 2010 | $2.08B | $0 | 0.0% |
| 2009 | $260.32M | $0 | 0.0% |
| 2008 | ($2.53B) | $0 | N/A (Loss) |
| 2007 | ($1.86B) | $0 | 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.
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 | 2.32% |
| 2026-03-31 | 1.31% |
| 2025-12-31 | 2.09% |
| 2025-09-30 | 2.32% |
| 2025-06-30 | 2.82% |
| 2025-03-31 | 6.10% |
| 2024-12-31 | 6.19% |
| 2024-09-30 | 6.94% |
| 2024-06-30 | 11.31% |
| 2024-03-31 | 27.77% |
| 2022-09-30 | 111.38% |
| 2022-06-30 | 21.75% |
| 2022-03-31 | 11.62% |
| 2021-12-31 | 13.31% |
| 2021-09-30 | 20.58% |
| 2021-06-30 | 58.94% |
| 2021-03-31 | 76.19% |
| 2020-12-31 | 44.31% |
| 2020-09-30 | 75.79% |
| 2019-03-31 | 20.60% |
| 2018-12-31 | 13.39% |
| 2018-09-30 | 13.19% |
| 2018-06-30 | 22.42% |
| 2018-03-31 | 9.72% |
| 2017-12-31 | 8.53% |
| 2017-09-30 | 14.66% |
| 2017-06-30 | 26.14% |
| 2017-03-31 | 43.83% |
| 2015-12-31 | 11.69% |
| 2015-09-30 | 19.16% |
| 2015-06-30 | 16.45% |
