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 352.68% is 20% above its 5-year average of 292.87%, near the high end of its 5-year range (213.88%–386.62%).
As of the fiscal period ended Wednesday, June 30, 2021. 23.53% above its 12-month average of 285.49%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
352.68%
FCF PAYOUT RATIO AVG TTM
285.49%
FCF PAYOUT RATIO AVG 3Y
319.20%
FCF PAYOUT RATIO AVG 5Y
292.87%
FCF PAYOUT RATIO AVG 10Y
245.88%
FCF PAYOUT RATIO AVG 15Y
160.40%
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+23.53%
CURRENT VS 3Y AVG
+10.49%
CURRENT VS 5Y AVG
+20.42%
CURRENT VS 10Y AVG
+43.43%
CURRENT VS 15Y AVG
+119.88%
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
352.7%
Earnings Payout Ratio
64.9%
Dividend Yield
3.28%
FCF Yield
N/A
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | ($1.00B) | $871.00M | N/A (Loss) |
| 2024 | ($824.00M) | $810.00M | N/A (Loss) |
| 2023 | ($714.00M) | $752.00M | 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 |
|---|---|
| 2021-06-30 | 352.68% |
| 2021-03-31 | 218.31% |
| 2018-09-30 | 386.62% |
| 2016-09-30 | 213.88% |
| 2015-09-30 | 745.45% |
| 2015-06-30 | 612.66% |
| 2015-03-31 | 490.72% |
| 2014-03-31 | 463.27% |
| 2013-12-31 | 160.07% |
| 2013-09-30 | 192.92% |
| 2013-06-30 | 98.60% |
| 2013-03-31 | 110.37% |
| 2012-12-31 | 104.63% |
| 2012-09-30 | 69.69% |
| 2012-06-30 | 98.03% |
| 2012-03-31 | 131.00% |
| 2011-12-31 | 74.24% |
| 2011-09-30 | 78.05% |
| 2011-06-30 | 70.57% |
| 2011-03-31 | 61.17% |
| 2010-12-31 | 49.59% |
| 2010-09-30 | 56.94% |
| 2010-06-30 | 47.95% |
| 2010-03-31 | 41.22% |
| 2009-12-31 | 44.39% |
| 2009-09-30 | 33.95% |
| 2009-03-31 | 252.94% |
| 2008-12-31 | 184.95% |
| 2008-06-30 | 105.76% |
| 2008-03-31 | 269.70% |
| 2007-06-30 | 158.12% |
| 2006-12-31 | 688.68% |
| 2006-09-30 | 191.62% |
| 2005-06-30 | 164.52% |
| 2005-03-31 | 174.15% |
| 2004-12-31 | 389.01% |
| 2004-09-30 | 70.12% |
| 2004-06-30 | 82.51% |
| 2004-03-31 | 92.04% |
| 2003-12-31 | 167.96% |
| 2022 |
| ($1.40B) |
| $685.00M |
| N/A (Loss) |
| 2021 | ($705.00M) | $791.00M | N/A (Loss) |
| 2020 | ($160.00M) | $760.00M | N/A (Loss) |
| 2019 | ($348.00M) | $692.00M | N/A (Loss) |
| 2018 | ($33.00M) | $620.00M | N/A (Loss) |
| 2017 | ($133.00M) | $592.00M | N/A (Loss) |
| 2016 | $39.00M | $531.00M | n/m |
| 2015 | ($104.00M) | $501.00M | N/A (Loss) |
| 2014 | ($210.00M) | $470.00M | N/A (Loss) |
| 2013 | $278.00M | $445.00M | 160.1% |
| 2012 | $389.00M | $407.00M | 104.6% |
| 2011 | $524.00M | $389.00M | 74.2% |
| 2010 | $726.00M | $360.00M | 49.6% |
| 2009 | $784.00M | $348.00M | 44.4% |
| 2008 | $186.00M | $344.00M | 184.9% |
| 2007 | ($174.00M) | $364.00M | N/A (Loss) |
| 2006 | $53.00M | $365.00M | 688.7% |
| 2005 | ($64.00M) | $360.00M | N/A (Loss) |
| 2004 | $91.00M | $354.00M | 389.0% |
| 2003 | $199.00M | $346.00M | 173.9% |
| 2002 | ($10.00M) | $338.00M | N/A (Loss) |
| 2001 | ($285.00M) | $325.00M | N/A (Loss) |
| 2000 | $431.00M | $319.00M | 74.0% |
| 1999 | $358.00M | $299.00M | 83.5% |
| 1998 | $313.00M | $299.00M | 95.5% |
| 1997 | $339.00M | $299.00M | 88.2% |
| 1996 | $548.10M | $298.90M | 54.5% |
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.
