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 30.65% is 32% below its 5-year average of 45.04%, near the low end of its 5-year range (30.65%–50.55%).
As of the fiscal period ended Sunday, August 2, 2026. 19.76% below its 12-month average of 38.20%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
30.65%
FCF PAYOUT RATIO AVG TTM
38.20%
FCF PAYOUT RATIO AVG 3Y
44.58%
FCF PAYOUT RATIO AVG 5Y
45.04%
FCF PAYOUT RATIO AVG 10Y
41.64%
FCF PAYOUT RATIO AVG 15Y
37.84%
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-19.76%
CURRENT VS 3Y AVG
-31.23%
CURRENT VS 5Y AVG
-31.94%
CURRENT VS 10Y AVG
-26.39%
CURRENT VS 15Y AVG
-18.99%
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
30.7%
Earnings Payout Ratio
32.4%
Dividend Yield
0.71%
FCF Yield
2.25%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $26.91B | $11.14B | 41.4% |
| 2024 | $19.41B | $9.81B | 50.6% |
| 2023 | $17.63B | $7.64B | 43.4% |
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 |
|---|---|
| 2026-08-02 | 30.65% |
| 2026-05-03 | 35.90% |
| 2026-02-01 | 39.62% |
| 2025-11-02 | 41.40% |
| 2025-08-03 | 43.44% |
| 2025-05-04 | 46.24% |
| 2025-02-02 | 48.97% |
| 2024-11-03 | 50.55% |
| 2024-08-04 | 49.50% |
| 2024-05-05 | 47.03% |
| 2024-02-04 | 44.33% |
| 2023-10-29 | 43.36% |
| 2023-07-30 | 43.31% |
| 2023-04-30 | 43.07% |
| 2023-01-29 | 42.67% |
| 2022-10-30 | 43.11% |
| 2022-07-31 | 44.50% |
| 2022-05-01 | 45.98% |
| 2022-01-30 | 46.93% |
| 2021-10-31 | 46.63% |
| 2021-08-01 | 46.10% |
| 2021-05-02 | 46.05% |
| 2021-01-31 | 46.07% |
| 2020-11-01 | 47.72% |
| 2020-08-02 | 48.37% |
| 2020-05-03 | 48.79% |
| 2020-02-02 | 48.06% |
| 2019-11-03 | 45.71% |
| 2019-08-04 | 41.48% |
| 2019-05-05 | 39.01% |
| 2019-02-02 | 37.56% |
| 2018-11-04 | 36.36% |
| 2018-08-05 | 36.47% |
| 2018-05-06 | 35.71% |
| 2018-04-04 | 34.96% |
| 2017-10-31 | 31.83% |
| 2017-07-31 | 30.68% |
| 2017-04-30 | 29.89% |
| 2017-01-31 | 30.63% |
| 2016-10-31 | 27.05% |
| 2016-07-31 | 31.97% |
| 2016-04-30 | 31.78% |
| 2016-01-31 | 25.34% |
| 2015-10-31 | 23.65% |
| 2015-07-31 | 25.88% |
| 2015-04-30 | 28.13% |
| 2015-01-31 | 34.25% |
| 2014-10-31 | 37.08% |
| 2014-07-31 | 35.81% |
| 2014-04-30 | 41.28% |
| 2014-01-31 | 40.00% |
| 2013-10-31 | 40.74% |
| 2013-07-31 | 37.82% |
| 2013-04-30 | 35.33% |
| 2013-01-31 | 31.38% |
| 2012-10-31 | 30.31% |
| 2012-07-31 | 26.71% |
| 2012-04-30 | 18.52% |
| 2012-01-31 | 14.61% |
| 2011-10-31 | 14.01% |
| 2011-07-31 | 9.18% |
| 2011-04-30 | 6.50% |
| 2011-01-31 | 3.92% |
| 2022 |
| $16.31B |
| $7.03B |
| 43.1% |
| 2021 | $13.32B | $6.21B | 46.6% |
| 2020 | $11.60B | $5.53B | 47.7% |
| 2019 | $9.27B | $4.24B | 45.7% |
| 2018 | $8.24B | $3.00B | 36.4% |
| 2017 | $5.48B | $1.65B | 30.2% |
| 2016 | $2.69B | $750.00M | 27.9% |
| 2015 | $1.73B | $408.00M | 23.7% |
| 2014 | $766.00M | $284.00M | 37.1% |
| 2013 | $486.00M | $198.00M | 40.7% |
| 2012 | $452.00M | $137.00M | 30.3% |
| 2011 | $614.00M | $86.00M | 14.0% |
| 2010 | $431.00M | $0 | 0.0% |
| 2009 | $81.00M | $0 | 0.0% |
| 2008 | $137.00M | $0 | 0.0% |
| 2007 | $109.00M | $0 | 0.0% |
| 2006 | $311.00M | $1.00M | 0.3% |
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.
