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 264.02% is 47% below its 1-year average of 494.07%, near the low end of its 1-year range (264.02%–612.96%).
As of the fiscal period ended Tuesday, March 31, 2026. 46.56% below its 12-month average of 494.07%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
264.02%
FCF PAYOUT RATIO AVG TTM
494.07%
FCF PAYOUT RATIO AVG 3Y
494.07%
FCF PAYOUT RATIO AVG 5Y
494.07%
FCF PAYOUT RATIO AVG 10Y
188.00%
FCF PAYOUT RATIO AVG 15Y
146.97%
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-46.56%
CURRENT VS 3Y AVG
-46.56%
CURRENT VS 5Y AVG
-46.56%
CURRENT VS 10Y AVG
+40.44%
CURRENT VS 15Y AVG
+79.64%
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
264.0%
Earnings Payout Ratio
30.4%
Dividend Yield
3.09%
FCF Yield
1.35%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $3.73B | $8.27B | 221.9% |
| 2025 | ($10.41B) | $7.55B | N/A (Loss) |
| 2024 | ($5.56B) | $5.82B | N/A (Loss) |
| 2023 | ($5.65B) | $5.48B | N/A (Loss) |
| 2022 | ($884.17M) | $5.83B | N/A (Loss) |
| 2021 | ($64.91M) | $53.26M | N/A (Loss) |
| 2020 | ($12.54B) | $5.75B | N/A (Loss) |
| 2019 | $249.92M | $5.82B | n/m |
| 2018 | $5.75B | $5.90B | 102.6% |
| 2017 | ($1.14B) | $5.73B | N/A (Loss) |
| 2016 | $3.57B | $6.27B | 175.8% |
| 2015 | $2.73B | $4.62B | 169.1% |
| 2014 | $9.37B | $3.84B | 40.9% |
| 2013 | $5.05B | $2.01B | 39.8% |
| 2012 | ($957.36M) | $1.88B | N/A (Loss) |
| 2011 | $3.98B | $1.69B | 42.4% |
| 2010 | $11.94B | $1.84B | 15.4% |
| 2009 | $14.87B | $4.43B | 29.8% |
| 2008 | $2.20B | $4.27B | 194.4% |
| 2007 | $3.39B | $2.86B | 84.3% |
| 2006 | ($2.16B) | $2.07B | N/A (Loss) |
| 2005 | $4.17B | $1.54B | 36.9% |
| 2004 | $7.51B | $1.30B | 17.3% |
| 2003 | $3.95B | $921.51M | 23.3% |
| 2002 | ($120.11M) | $740.70M | N/A (Loss) |
| 2001 | $1.83B | $713.23M | 39.1% |
| 2000 | ($2.55B) | $807.62M | N/A (Loss) |
| 1999 | ($319.61M) | $725.38M | N/A (Loss) |
| 1998 | ($3.54B) | $662.45M | N/A (Loss) |
| 1997 | $6.94B | $576.79M | 8.3% |
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 |
|---|---|
| 2026-03-31 | 264.02% |
| 2025-12-31 | 605.24% |
| 2025-09-30 | 612.96% |
| 2018-12-31 | 155.06% |
| 2018-09-30 | 244.94% |
| 2018-06-30 | 288.32% |
| 2018-03-31 | 98.78% |
| 2017-12-31 | 114.44% |
| 2017-09-30 | 168.63% |
| 2016-09-30 | 267.68% |
| 2016-06-30 | 114.16% |
| 2016-03-31 | 163.96% |
| 2015-12-31 | 183.80% |
| 2015-09-30 | 459.23% |
| 2015-06-30 | 198.59% |
| 2015-03-31 | 178.47% |
| 2014-12-31 | 322.41% |
| 2014-09-30 | 131.41% |
| 2014-06-30 | 77.93% |
| 2014-03-31 | 40.21% |
| 2013-12-31 | 44.74% |
| 2013-09-30 | 39.95% |
| 2013-06-30 | 46.60% |
| 2013-03-31 | 38.92% |
| 2012-12-31 | 32.11% |
| 2012-09-30 | 31.08% |
| 2012-06-30 | 71.33% |
| 2011-03-31 | 44.53% |
| 2010-12-31 | 55.37% |
| 2010-09-30 | 24.37% |
| 2010-06-30 | 11.11% |
| 2010-03-31 | 14.79% |
| 2009-12-31 | 12.38% |
| 2009-09-30 | 98.71% |
