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 45.44% is 14% below its 5-year average of 52.62%, near the low end of its 5-year range (24.47%–401.41%).
As of the fiscal period ended Saturday, August 1, 2026. 28.79% below its 12-month average of 63.81%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
45.44%
FCF PAYOUT RATIO AVG TTM
63.81%
FCF PAYOUT RATIO AVG 3Y
54.83%
FCF PAYOUT RATIO AVG 5Y
52.62%
FCF PAYOUT RATIO AVG 10Y
41.51%
FCF PAYOUT RATIO AVG 15Y
42.50%
FCF PAYOUT RATIO AVG 20Y
42.35%
CURRENT VS TTM AVG
-28.79%
CURRENT VS 3Y AVG
-17.13%
CURRENT VS 5Y AVG
-13.65%
CURRENT VS 10Y AVG
+9.46%
CURRENT VS 15Y AVG
+6.91%
CURRENT VS 20Y AVG
+7.29%
FCF Payout Ratio TTM
45.4%
Earnings Payout Ratio
47.5%
Dividend Yield
2.79%
FCF Yield
6.06%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $2.83B | $2.05B | 72.4% |
| 2025 | $4.48B | $2.05B | 45.7% |
| 2024 | $3.81B | $2.01B | 52.7% |
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 |
|---|---|
| 2026-08-01 | 45.44% |
| 2026-05-02 | 65.87% |
| 2026-01-31 | 70.07% |
| 2025-11-01 | 68.13% |
| 2025-08-02 | 69.57% |
| 2025-05-03 | 57.95% |
| 2025-02-01 | 45.71% |
| 2024-11-02 | 44.91% |
| 2024-08-03 | 38.57% |
| 2024-05-04 | 44.13% |
| 2024-02-03 | 52.71% |
| 2023-10-28 | 54.93% |
| 2023-07-29 | 121.86% |
| 2023-04-29 | 384.88% |
| 2022-07-30 | 401.41% |
| 2022-04-30 | 76.40% |
| 2022-01-29 | 30.47% |
| 2021-10-30 | 24.47% |
| 2021-07-31 | 21.68% |
| 2021-05-01 | 17.01% |
| 2021-01-30 | 17.05% |
| 2020-10-31 | 18.14% |
| 2020-08-01 | 20.93% |
| 2020-05-02 | 26.88% |
| 2020-02-01 | 32.52% |
| 2019-11-02 | 38.39% |
| 2019-08-03 | 44.16% |
| 2019-05-04 | 54.59% |
| 2019-02-02 | 54.33% |
| 2018-11-03 | 49.54% |
| 2018-08-04 | 37.87% |
| 2018-05-05 | 41.10% |
| 2018-02-03 | 30.48% |
| 2017-10-28 | 28.89% |
| 2017-07-29 | 27.99% |
| 2017-04-29 | 28.33% |
| 2017-01-28 | 34.66% |
| 2016-10-29 | 39.06% |
| 2016-07-30 | 43.53% |
| 2016-04-30 | 43.07% |
| 2016-01-30 | 30.91% |
| 2015-10-31 | 28.06% |
| 2015-08-01 | 31.03% |
| 2015-05-02 | 32.52% |
| 2015-01-31 | 45.42% |
| 2014-11-01 | 70.18% |
| 2014-08-02 | 81.38% |
| 2014-05-03 | 150.07% |
| 2014-02-01 | 32.80% |
| 2013-11-02 | 32.79% |
| 2013-08-03 | 27.67% |
| 2013-05-04 | 23.08% |
| 2013-02-02 | 42.43% |
| 2012-10-27 | 29.32% |
| 2012-07-28 | 40.62% |
| 2012-04-28 | 72.35% |
| 2012-01-28 | 70.36% |
| 2011-10-29 | 64.71% |
| 2011-07-30 | 31.08% |
| 2011-04-30 | 22.96% |
| 2011-01-29 | 19.38% |
| 2010-10-30 | 14.67% |
| 2010-07-31 | 12.74% |
| 2010-05-01 | 11.27% |
| 2010-01-30 | 11.95% |
| 2009-10-31 | 13.90% |
| 2009-08-01 | 23.02% |
| 2009-05-02 | 30.35% |
| 2009-01-31 | 52.66% |
| 2008-11-01 | 85.58% |
| 2008-08-02 | 64.57% |
| 2008-05-03 | 170.04% |
| 2007-11-03 | 108.38% |
| 2007-08-04 | 81.55% |
| 2007-05-05 | 69.47% |
| 2007-02-03 | 40.69% |
| 2006-10-28 | 60.03% |
| 2006-07-29 | 53.93% |
| 2006-04-29 | 40.58% |
| 2006-01-28 | 29.92% |
| 2005-10-29 | 39.63% |
| 2005-07-30 | 188.16% |
| 2005-01-29 | 214.17% |
| 2004-10-30 | 157.14% |
| 2004-07-31 | 32.28% |
| 2004-05-01 | 22.34% |
| 2004-01-31 | 151.92% |
| 2023 |
| ($1.51B) |
| $1.84B |
| N/A (Loss) |
| 2022 | $5.08B | $1.55B | 30.5% |
| 2021 | $7.88B | $1.34B | 17.1% |
| 2020 | $4.09B | $1.33B | 32.5% |
| 2019 | $2.46B | $1.33B | 54.3% |
| 2018 | $4.39B | $1.34B | 30.5% |
| 2017 | $3.89B | $1.35B | 34.7% |
| 2016 | $4.41B | $1.36B | 30.9% |
| 2015 | $2.65B | $1.21B | 45.4% |
| 2014 | $3.07B | $1.01B | 32.8% |
| 2013 | $2.05B | $869.00M | 42.4% |
| 2012 | $1.07B | $750.00M | 70.4% |
| 2011 | $3.14B | $609.00M | 19.4% |
| 2010 | $4.15B | $496.00M | 11.9% |
| 2009 | $883.00M | $465.00M | 52.7% |
| 2008 | ($244.00M) | $442.00M | N/A (Loss) |
| 2007 | $934.00M | $380.00M | 40.7% |
| 2006 | $1.06B | $318.00M | 29.9% |
| 2005 | $127.00M | $272.00M | 214.2% |
| 2004 | $156.00M | $237.00M | 151.9% |
| 2003 | ($1.63B) | $218.00M | N/A (Loss) |
| 2002 | ($1.17B) | $203.00M | N/A (Loss) |
| 2001 | ($623.00M) | $190.00M | N/A (Loss) |
| 2000 | $334.00M | $195.00M | 58.4% |
| 1999 | $105.00M | $178.00M | 169.5% |
| 1998 | $441.00M | $165.00M | 37.4% |
| 1997 | $157.00M | $155.00M | 98.7% |
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.
