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 61.94% is 42% below its 5-year average of 105.92%, near the low end of its 5-year range (0.00%–610.25%).
As of the fiscal period ended Tuesday, June 30, 2026. 23.65% below its 12-month average of 81.12%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
61.94%
FCF PAYOUT RATIO AVG TTM
81.12%
FCF PAYOUT RATIO AVG 3Y
172.65%
FCF PAYOUT RATIO AVG 5Y
60.45%
FCF PAYOUT RATIO AVG 10Y
43.86%
FCF PAYOUT RATIO AVG 15Y
51.21%
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-23.65%
CURRENT VS 3Y AVG
-64.13%
CURRENT VS 5Y AVG
+2.46%
CURRENT VS 10Y AVG
+41.22%
CURRENT VS 15Y AVG
+20.94%
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
61.9%
Earnings Payout Ratio
75.3%
Dividend Yield
2.14%
FCF Yield
4.00%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $1.67B | $1.15B | 68.7% |
| 2024 | $77.46M | $1.14B | n/m |
| 2023 | ($261.26M) | $1.47B | N/A (Loss) |
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 | 61.94% |
| 2026-03-31 | 73.52% |
| 2025-12-31 | 73.24% |
| 2025-09-30 | 80.12% |
| 2025-06-30 | 116.81% |
| 2025-03-31 | 192.66% |
| 2023-06-30 | 610.25% |
| 2023-03-31 | 88.13% |
| 2022-12-31 | 55.94% |
| 2022-09-30 | 49.25% |
| 2022-06-30 | 35.01% |
| 2022-03-31 | 40.89% |
| 2021-12-31 | 49.28% |
| 2021-09-30 | 61.70% |
| 2021-06-30 | 0.00% |
| 2021-03-31 | 0.00% |
| 2020-12-31 | 0.00% |
| 2020-09-30 | 0.00% |
| 2020-06-30 | 13.74% |
| 2020-03-31 | 14.99% |
| 2019-12-31 | 18.56% |
| 2019-09-30 | 66.01% |
| 2019-06-30 | 31.13% |
| 2019-03-31 | 28.78% |
| 2018-12-31 | 27.95% |
| 2018-09-30 | 34.55% |
| 2018-06-30 | 32.86% |
| 2018-03-31 | 41.87% |
| 2017-12-31 | 87.89% |
| 2015-06-30 | 340.62% |
| 2015-03-31 | 297.46% |
| 2014-09-30 | 663.32% |
| 2014-06-30 | 128.68% |
| 2014-03-31 | 98.86% |
| 2013-12-31 | 66.37% |
| 2013-09-30 | 109.47% |
| 2009-09-30 | 0.04% |
| 2009-06-30 | 0.03% |
| 2009-03-31 | 0.03% |
| 2008-12-31 | 0.03% |
| 2022 |
| $2.05B |
| $1.22B |
| 59.5% |
| 2021 | $1.46B | $716.83M | 49.2% |
| 2020 | $1.33B | $347.19M | 26.1% |
| 2019 | $1.20B | $231.04M | 19.2% |
| 2018 | $997.55M | $279.84M | 28.1% |
| 2017 | $234.01M | $205.37M | 87.8% |
| 2016 | ($1.44B) | $212.59M | N/A (Loss) |
| 2015 | ($46.98M) | $210.39M | N/A (Loss) |
| 2014 | $12.53M | $196.97M | n/m |
| 2013 | $257.03M | $169.40M | 65.9% |
| 2012 | ($427.52M) | $217.54M | N/A (Loss) |
| 2011 | ($394.31M) | $462.10M | N/A (Loss) |
| 2010 | ($265.23M) | $213.58M | N/A (Loss) |
| 2009 | $462.80M | $0 | 0.0% |
| 2008 | $1.03B | $285.34M | 27.8% |
| 2007 | $608.86M | $383.11M | 62.9% |
| 2006 | $424.69M | $219.61M | 51.7% |
| 2005 | $731.39M | $53.99M | 7.4% |
| 2004 | ($219.97M) | $0 | N/A (Loss) |
| 2003 | $773.31M | $0 | 0.0% |
| 2002 | ($170.62M) | $0 | N/A (Loss) |
| 2001 | ($102.88M) | $0 | N/A (Loss) |
| 2000 | ($470.22M) | $0 | N/A (Loss) |
| 1999 | ($256.52M) | $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.
