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 28.30% is 13% above its 2-year average of 25.00%, near the high end of its 2-year range (9.64%–33.06%).
As of the fiscal period ended Tuesday, June 30, 2026. 4.73% above its 12-month average of 27.02%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
28.30%
FCF PAYOUT RATIO AVG TTM
27.02%
FCF PAYOUT RATIO AVG 3Y
25.00%
FCF PAYOUT RATIO AVG 5Y
25.00%
FCF PAYOUT RATIO AVG 10Y
25.00%
FCF PAYOUT RATIO AVG 15Y
25.00%
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+4.73%
CURRENT VS 3Y AVG
+13.18%
CURRENT VS 5Y AVG
+13.18%
CURRENT VS 10Y AVG
+13.18%
CURRENT VS 15Y AVG
+13.18%
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
28.3%
Earnings Payout Ratio
41.3%
Dividend Yield
2.17%
FCF Yield
7.81%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $18.00B | $4.12B | 22.9% |
| 2024 | $9.98B | $3.30B | 33.1% |
| 2023 | $7.75B | $747.00M | 9.6% |
| 2022 | ($520.00M) | $0 | N/A (Loss) |
| 2021 | ($7.78B) | $0 | N/A (Loss) |
| 2020 | ($3.73B) | $0 |
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 | 28.30% |
| 2026-03-31 | 27.11% |
| 2025-12-31 | 26.71% |
| 2025-09-30 | 24.52% |
| 2025-06-30 | 28.45% |
| 2025-03-31 | 29.49% |
| 2024-12-31 | 33.06% |
| 2024-09-30 | 30.43% |
| 2024-06-30 | 20.76% |
| 2024-03-31 | 16.54% |
| 2023-12-31 | 9.64% |
| 2018-06-30 | 2.72% |
| 2016-03-31 | 137.50% |
| 2013-03-31 | 547.65% |
| 2012-12-31 | 704.43% |
| 2010-09-30 | 77.74% |
| 2010-06-30 | 113.86% |
| 2010-03-31 | 18.29% |
| 2009-12-31 | 136.63% |
| N/A (Loss) |
| 2019 | ($534.00M) | $0 | N/A (Loss) |
| 2018 | ($1.77B) | $0 | N/A (Loss) |
| 2017 | ($7.23B) | $55.00M | N/A (Loss) |
| 2016 | ($2.54B) | $55.00M | N/A (Loss) |
| 2015 | ($1.25B) | $55.00M | N/A (Loss) |
| 2014 | ($3.07B) | $0 | N/A (Loss) |
| 2013 | ($861.00M) | $41.00M | N/A (Loss) |
| 2012 | $341.13M | $2.40B | 704.4% |
| 2011 | $105.78M | $0 | 0.0% |
| 2010 | $204.12M | $0 | 0.0% |
| 2009 | $15.37M | $0 | 0.0% |
| 2008 | ($835.64M) | $0 | N/A (Loss) |
| 2007 | ($198.40M) | $0 | N/A (Loss) |
| 2006 | ($1.58B) | $0 | N/A (Loss) |
| 2005 | ($499.01M) | $0 | N/A (Loss) |
| 2004 | $401.21M | $21.01M | 5.2% |
| 2003 | ($7.19M) | $0 | N/A (Loss) |
| 2002 | ($50.67M) | $0 | N/A (Loss) |
| 2001 | ($32.40M) | $0 | N/A (Loss) |
| 2000 | ($9.46M) | $0 | N/A (Loss) |
