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 111.72% is 57% above its 5-year average of 71.10%, around the middle of its 5-year range (34.10%–168.53%).
As of the fiscal period ended Saturday, May 31, 2025. 15.05% below its 12-month average of 131.52%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
111.72%
FCF PAYOUT RATIO AVG TTM
131.52%
FCF PAYOUT RATIO AVG 3Y
112.46%
FCF PAYOUT RATIO AVG 5Y
71.10%
FCF PAYOUT RATIO AVG 10Y
33.38%
FCF PAYOUT RATIO AVG 15Y
32.62%
FCF PAYOUT RATIO AVG 20Y
33.50%
CURRENT VS TTM AVG
-15.05%
CURRENT VS 3Y AVG
-0.65%
CURRENT VS 5Y AVG
+57.13%
CURRENT VS 10Y AVG
+234.68%
CURRENT VS 15Y AVG
+242.54%
CURRENT VS 20Y AVG
+233.49%
FCF Payout Ratio TTM
111.7%
Earnings Payout Ratio
N/A
Dividend Yield
N/A
FCF Yield
5.60%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2024 | ($363.00M) | $1.26B | N/A (Loss) |
| 2023 | $141.00M | $1.66B | n/m |
| 2022 | $2.17B | $1.66B | 76.6% |
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 |
|---|---|
| 2025-05-31 | 111.72% |
| 2025-02-28 | 151.31% |
| 2023-02-28 | 168.53% |
| 2022-11-30 | 118.39% |
| 2022-08-31 | 76.63% |
| 2022-05-31 | 48.15% |
| 2022-02-28 | 45.28% |
| 2021-11-30 | 40.05% |
| 2021-08-31 | 38.72% |
| 2021-05-31 | 34.10% |
| 2021-02-28 | 40.48% |
| 2020-11-30 | 41.48% |
| 2020-08-31 | 42.51% |
| 2020-05-31 | 38.06% |
| 2020-02-29 | 31.49% |
| 2019-11-30 | 35.64% |
| 2019-08-31 | 42.21% |
| 2019-05-31 | 37.89% |
| 2019-02-28 | 36.85% |
| 2018-11-30 | 27.72% |
| 2018-08-31 | 25.21% |
| 2018-05-31 | 28.44% |
| 2018-02-28 | 28.75% |
| 2017-11-30 | 25.76% |
| 2017-08-31 | 27.54% |
| 2017-05-31 | 24.46% |
| 2017-02-28 | 23.21% |
| 2016-11-30 | 25.11% |
| 2016-08-31 | 23.97% |
| 2016-05-31 | 28.46% |
| 2016-02-29 | 29.71% |
| 2015-11-30 | 35.41% |
| 2015-08-31 | 31.36% |
| 2015-05-31 | 30.08% |
| 2015-02-28 | 32.44% |
| 2014-11-30 | 32.93% |
| 2014-08-31 | 43.02% |
| 2014-05-31 | 46.83% |
| 2014-02-28 | 44.38% |
| 2013-11-30 | 41.57% |
| 2013-08-31 | 33.67% |
| 2013-05-31 | 37.12% |
| 2013-02-28 | 30.24% |
| 2012-11-30 | 30.66% |
| 2012-08-31 | 27.32% |
| 2012-05-31 | 31.22% |
| 2012-02-29 | 36.94% |
| 2011-11-30 | 35.43% |
| 2011-08-31 | 26.63% |
| 2011-05-31 | 18.97% |
| 2011-02-28 | 19.43% |
| 2010-11-30 | 20.70% |
| 2010-08-31 | 19.82% |
| 2010-05-31 | 20.83% |
| 2010-02-28 | 17.84% |
| 2009-11-30 | 13.96% |
| 2009-08-31 | 20.42% |
| 2009-05-31 | 25.14% |
| 2009-02-28 | 41.11% |
| 2008-11-30 | 66.79% |
| 2008-08-31 | 46.19% |
| 2008-05-31 | 62.20% |
| 2008-02-29 | 70.86% |
| 2007-11-30 | 83.79% |
| 2007-08-31 | 54.29% |
| 2007-05-31 | 54.55% |
| 2007-02-28 | 29.07% |
| 2006-11-30 | 25.37% |
| 2006-08-31 | 23.86% |
| 2006-05-31 | 20.29% |
| 2006-02-28 | 30.59% |
| 2005-11-30 | 47.72% |
| 2005-08-31 | 160.43% |
| 2005-05-31 | 87.48% |
| 2005-02-28 | 38.75% |
| 2004-11-30 | 34.23% |
| 2004-08-31 | 24.80% |
| 2004-05-31 | 18.46% |
| 2004-02-29 | 27.35% |
| 2003-11-30 | 22.42% |
| 2003-08-31 | 21.88% |
| 2003-05-31 | 25.95% |
| 2003-02-28 | 20.40% |
| 2002-11-30 | 21.00% |
| 2002-08-31 | 27.25% |
| 2002-05-31 | 44.80% |
| 2021 |
| $4.18B |
| $1.62B |
| 38.7% |
| 2020 | $4.11B | $1.75B | 42.5% |
| 2019 | $3.89B | $1.64B | 42.2% |
| 2018 | $6.90B | $1.74B | 25.2% |
| 2017 | $5.90B | $1.63B | 27.5% |
| 2016 | $6.52B | $1.56B | 24.0% |
| 2015 | $4.41B | $1.38B | 31.4% |
| 2014 | $2.79B | $1.20B | 43.0% |
| 2013 | $3.09B | $1.04B | 33.7% |
| 2012 | $2.88B | $787.00M | 27.3% |
| 2011 | $2.43B | $647.00M | 26.6% |
| 2010 | $2.73B | $541.00M | 19.8% |
| 2009 | $2.18B | $446.00M | 20.4% |
| 2008 | $814.00M | $376.00M | 46.2% |
| 2007 | $571.40M | $310.20M | 54.3% |
| 2006 | $1.10B | $262.90M | 23.9% |
| 2005 | $133.70M | $214.50M | 160.4% |
| 2004 | $713.20M | $176.90M | 24.8% |
| 2003 | $696.40M | $152.40M | 21.9% |
| 2002 | $539.40M | $147.00M | 27.3% |
| 2001 | ($517.80M) | $140.90M | N/A (Loss) |
| 2000 | ($147.40M) | $134.60M | N/A (Loss) |
| 1999 | ($71.10M) | $128.60M | N/A (Loss) |
| 1998 | ($70.00M) | $123.00M | N/A (Loss) |
| 1997 | $165.00M | $116.00M | 70.3% |
| 1996 | $46.70M | $105.20M | 225.3% |
| 1995 | $34.70M | $92.90M | 267.7% |
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.
