Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
The FCF payout ratio is 72.39% as of the fiscal period ended Tuesday, June 30, 2026.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
72.39%
FCF PAYOUT RATIO AVG TTM
80.82%
FCF PAYOUT RATIO AVG 3Y
129.85%
FCF PAYOUT RATIO AVG 5Y
152.41%
FCF PAYOUT RATIO AVG 10Y
161.52%
FCF PAYOUT RATIO AVG 15Y
136.82%
FCF PAYOUT RATIO AVG 20Y
113.88%
CURRENT VS TTM AVG
-10.44%
CURRENT VS 3Y AVG
-44.25%
CURRENT VS 5Y AVG
-52.51%
CURRENT VS 10Y AVG
-55.18%
CURRENT VS 15Y AVG
-47.09%
CURRENT VS 20Y AVG
-36.44%
FCF Payout Ratio TTM
72.4%
Earnings Payout Ratio
416.7%
Dividend Yield
5.67%
FCF Yield
5.95%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $2.88B | $2.08B | 72.3% |
| 2024 | $1.72B | $2.73B | 158.6% |
| 2023 | $1.70B | $2.72B | 160.0% |
| 2022 | $1.57B | $2.60B | 165.9% |
| 2021 | $1.50B | $2.37B | 158.4% |
| 2020 | $1.43B | $2.19B | 153.0% |
| 2019 | $641.00M | $2.02B | 315.9% |
| 2018 | $761.00M | $1.90B | 249.0% |
| 2017 | $816.12M | $1.54B | 188.5% |
| 2016 | $908.38M | $1.28B | 141.3% |
| 2015 | $887.83M | $1.16B | 130.7% |
| 2014 | $886.05M | $668.65M | 75.5% |
| 2013 | $669.85M | $0 | 0.0% |
| 2012 | $331.17M | $2.48M | 0.7% |
| 2011 | $295.51M | $19.49M | 6.6% |
| 2010 | $375.37M | $19.88M | 5.3% |
| 2009 | $397.72M | $19.88M | 5.0% |
| 2008 | $62.27M | $19.88M | 31.9% |
| 2007 | $50.35M | $19.88M | 39.5% |
| 2006 | ($147.01M) | $19.88M | N/A (Loss) |
| 2005 | $143.86M | $21.62M | 15.0% |
| 2004 | $68.74M | $9.51M | 13.8% |
| 2003 | $141.13M | $73.44M | 52.0% |
| 2002 | ($68.33M) | $0 | N/A (Loss) |
| 2001 | ($551.17M) | $0 | N/A (Loss) |
| 2000 | ($471.01M) | $0 | N/A (Loss) |
| 1999 | ($1.41B) | $1.20M | N/A (Loss) |
| 1998 | ($104.20M) | $0 | N/A (Loss) |
| 1997 | ($52.60M) | $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.
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 | 72.39% |
| 2026-03-31 | 68.34% |
| 2025-12-31 | 72.35% |
| 2025-09-30 | 86.12% |
| 2025-06-30 | 104.92% |
| 2025-03-31 | 133.68% |
| 2024-12-31 | 158.57% |
| 2024-09-30 | 167.26% |
| 2024-06-30 | 192.72% |
| 2024-03-31 | 158.80% |
| 2023-12-31 | 159.99% |
| 2023-09-30 | 165.77% |
| 2023-06-30 | 147.20% |
| 2023-03-31 | 169.54% |
| 2022-12-31 | 165.94% |
| 2022-09-30 | 169.02% |
| 2022-06-30 | 167.70% |
| 2022-03-31 | 163.09% |
| 2021-12-31 | 158.41% |
| 2021-09-30 | 136.00% |
| 2021-06-30 | 138.72% |
| 2021-03-31 | 148.44% |
| 2020-12-31 | 153.04% |
| 2020-09-30 | 191.16% |
| 2020-06-30 | 218.23% |
| 2020-03-31 | 252.88% |
| 2019-12-31 | 315.91% |
| 2019-09-30 | 343.97% |
| 2019-06-30 | 305.30% |
| 2019-03-31 | 271.31% |
| 2018-12-31 | 249.01% |
| 2018-09-30 | 236.71% |
| 2018-06-30 | 224.19% |
| 2018-03-31 | 232.56% |
| 2017-12-31 | 188.53% |
| 2017-09-30 | 183.19% |
| 2017-06-30 | 180.30% |
| 2017-03-31 | 155.82% |
| 2016-12-31 | 141.26% |
| 2016-09-30 | 131.30% |
| 2016-06-30 | 133.05% |
| 2016-03-31 | 135.38% |
| 2015-12-31 | 130.70% |
| 2015-09-30 | 134.87% |
| 2015-06-30 | 105.02% |
| 2015-03-31 | 89.42% |
| 2014-12-31 | 75.46% |
| 2014-09-30 | 42.89% |
| 2014-06-30 | 31.28% |
| 2014-03-31 | 17.83% |
| 2012-12-31 | 0.75% |
| 2012-09-30 | 2.09% |
| 2012-06-30 | 4.10% |
| 2012-03-31 | 5.35% |
| 2011-12-31 | 6.59% |
| 2011-09-30 | 6.43% |
| 2011-06-30 | 4.87% |
| 2011-03-31 | 4.68% |
| 2010-12-31 | 5.30% |
| 2010-09-30 | 5.30% |
| 2010-06-30 | 5.83% |
| 2010-03-31 | 5.77% |
| 2009-12-31 | 5.00% |
| 2009-09-30 | 5.82% |
| 2009-06-30 | 8.31% |
| 2009-03-31 | 14.73% |
| 2008-12-31 | 31.92% |
| 2008-09-30 | 82.10% |
| 2008-06-30 | 28.31% |
| 2008-03-31 | 36.22% |
| 2007-12-31 | 39.48% |
| 2006-09-30 | 13.35% |
| 2006-06-30 | 15.68% |
| 2006-03-31 | 13.95% |
| 2005-12-31 | 12.16% |
| 2005-06-30 | 23.41% |
| 2005-03-31 | 12.21% |
| 2004-12-31 | 13.84% |
| 2004-09-30 | 3.39% |
| 2004-06-30 | 39.39% |
| 2004-03-31 | 37.56% |
| 2003-12-31 | 52.04% |
