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 12.94% is 30% above its 1-year average of 9.95%, near the high end of its 1-year range (6.97%–12.94%).
As of the fiscal period ended Sunday, May 31, 2026. 30.00% above its 12-month average of 9.95%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
12.94%
FCF PAYOUT RATIO AVG TTM
9.95%
FCF PAYOUT RATIO AVG 3Y
9.95%
FCF PAYOUT RATIO AVG 5Y
9.95%
FCF PAYOUT RATIO AVG 10Y
44.52%
FCF PAYOUT RATIO AVG 15Y
83.21%
FCF PAYOUT RATIO AVG 20Y
83.92%
CURRENT VS TTM AVG
+30.00%
CURRENT VS 3Y AVG
+30.00%
CURRENT VS 5Y AVG
+30.00%
CURRENT VS 10Y AVG
-70.94%
CURRENT VS 15Y AVG
-84.45%
CURRENT VS 20Y AVG
-84.58%
FCF Payout Ratio TTM
12.9%
Earnings Payout Ratio
14.3%
Dividend Yield
1.08%
FCF Yield
8.31%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $2.61B | $0 | 0.0% |
| 2024 | $1.30B | $0 | 0.0% |
| 2023 | $997.00M | $0 | 0.0% |
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 |
|---|---|
| 2026-05-31 | 12.94% |
| 2026-02-28 | 6.97% |
| 2020-02-29 | 213.10% |
| 2019-08-31 | 125.27% |
| 2019-05-31 | 132.36% |
| 2019-02-28 | 466.22% |
| 2018-11-30 | 75.32% |
| 2018-08-31 | 63.76% |
| 2018-05-31 | 53.91% |
| 2018-02-28 | 49.23% |
| 2017-11-30 | 45.71% |
| 2017-08-31 | 44.24% |
| 2017-05-31 | 43.67% |
| 2017-02-28 | 47.03% |
| 2016-11-30 | 47.15% |
| 2016-08-31 | 45.77% |
| 2016-05-31 | 43.04% |
| 2016-02-29 | 29.55% |
| 2015-11-30 | 36.25% |
| 2015-08-31 | 48.81% |
| 2015-05-31 | 55.11% |
| 2015-02-28 | 140.58% |
| 2014-11-30 | 91.62% |
| 2014-08-31 | 61.88% |
| 2014-05-31 | 84.24% |
| 2014-02-28 | 119.20% |
| 2013-11-30 | 169.93% |
| 2013-08-31 | 129.16% |
| 2013-05-31 | 88.82% |
| 2013-02-28 | 151.56% |
| 2012-11-30 | 116.79% |
| 2012-08-31 | 97.50% |
| 2012-05-31 | 222.16% |
| 2012-02-29 | 88.81% |
| 2011-11-30 | 62.71% |
| 2011-08-31 | 96.34% |
| 2011-05-31 | 54.92% |
| 2011-02-28 | 25.24% |
| 2010-11-30 | 99.16% |
| 2010-05-31 | 76.70% |
| 2009-08-31 | 572.73% |
| 2008-05-31 | 116.40% |
| 2008-02-29 | 119.41% |
| 2007-11-30 | 130.78% |
| 2007-08-31 | 67.83% |
| 2007-05-31 | 117.13% |
| 2007-02-28 | 65.08% |
| 2006-11-30 | 69.64% |
| 2006-08-31 | 83.68% |
| 2006-05-31 | 61.62% |
| 2006-02-28 | 49.77% |
| 2005-11-30 | 39.50% |
| 2005-08-31 | 48.60% |
| 2005-05-31 | 36.14% |
| 2005-02-28 | 95.89% |
| 2022 |
| ($6.61B) |
| $0 |
| N/A (Loss) |
| 2021 | ($7.72B) | $0 | N/A (Loss) |
| 2020 | ($9.92B) | $689.00M | N/A (Loss) |
| 2019 | $46.00M | $1.39B | n/m |
| 2018 | $1.80B | $1.35B | 75.3% |
| 2017 | $2.38B | $1.09B | 45.7% |
| 2016 | $2.07B | $977.00M | 47.2% |
| 2015 | $2.25B | $816.00M | 36.3% |
| 2014 | $847.00M | $776.00M | 91.6% |
| 2013 | $685.00M | $1.16B | 169.9% |
| 2012 | $667.00M | $779.00M | 116.8% |
| 2011 | $1.07B | $671.00M | 62.7% |
| 2010 | $239.00M | $237.00M | 99.2% |
| 2009 | ($38.00M) | $314.00M | N/A (Loss) |
| 2008 | $38.00M | $1.26B | n/m |
| 2007 | $757.00M | $990.00M | 130.8% |
| 2006 | $1.15B | $803.00M | 69.6% |
| 2005 | $1.43B | $566.00M | 39.5% |
| 2004 | ($370.00M) | $400.00M | N/A (Loss) |
| 2003 | ($583.00M) | $292.00M | N/A (Loss) |
| 2002 | ($517.45M) | $246.32M | N/A (Loss) |
| 2001 | $412.37M | $245.84M | 59.6% |
| 2000 | $224.84M | $254.33M | 113.1% |
| 1999 | $456.74M | $219.18M | 48.0% |
| 1998 | ($58.57M) | $178.46M | N/A (Loss) |
| 1997 | $379.92M | $130.46M | 34.3% |
| 1996 | ($160.38M) | $103.88M | 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.
