Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
The FCF payout ratio is 89.59% 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
89.59%
FCF PAYOUT RATIO AVG TTM
83.78%
FCF PAYOUT RATIO AVG 3Y
81.78%
FCF PAYOUT RATIO AVG 5Y
82.10%
FCF PAYOUT RATIO AVG 10Y
77.07%
FCF PAYOUT RATIO AVG 15Y
76.90%
FCF PAYOUT RATIO AVG 20Y
76.90%
CURRENT VS TTM AVG
+6.94%
CURRENT VS 3Y AVG
+9.56%
CURRENT VS 5Y AVG
+9.13%
CURRENT VS 10Y AVG
+16.25%
CURRENT VS 15Y AVG
+16.51%
CURRENT VS 20Y AVG
+16.51%
FCF Payout Ratio TTM
89.6%
Earnings Payout Ratio
93.9%
Dividend Yield
4.16%
FCF Yield
4.57%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $1.29B | $1.05B | 81.2% |
| 2024 | $1.25B | $1.02B | 81.4% |
| 2023 | $1.20B | $993.24M | 82.8% |
| 2022 | $1.22B | $934.10M | 76.4% |
| 2021 | $1.09B | $903.56M | 82.8% |
| 2020 | $1.10B | $887.03M | 80.7% |
| 2019 | $1.27B | $834.20M | 65.9% |
| 2018 | $1.16B | $785.99M | 67.9% |
| 2017 | $1.04B | $742.47M | 71.7% |
| 2016 | $984.76M | $4.77B | 484.8% |
| 2015 | $1.11B | $788.11M | 71.0% |
| 2014 | $1.08B | $780.80M | 72.3% |
| 2013 | $681.64M | $685.75M | 100.6% |
| 2012 | $862.00M | $486.87M | 56.5% |
| 2011 | $784.25M | $444.85M | 56.7% |
| 2010 | $710.04M | $394.44M | 55.6% |
| 2009 | $3.83M | $503.10M | n/m |
| 2008 | ($386.84M) | $536.73M | N/A (Loss) |
| 2007 | ($1.63B) | $608.23M | N/A (Loss) |
| 2006 | ($1.52B) | $595.31M | N/A (Loss) |
| 2005 | $698.53M | $594.86M | 85.2% |
| 2004 | $707.06M | $601.78M | 85.1% |
| 2003 | $744.32M | $614.03M | 82.5% |
| 2002 | $356.84M | $623.75M | 174.8% |
| 2001 | $790.96M | $507.95M | 64.2% |
| 2000 | $802.10M | $564.34M | 70.4% |
| 1999 | $14.57M | $477.40M | n/m |
| 1998 | ($540.85M) | $373.80M | N/A (Loss) |
| 1997 | ($919.30M) | $292.10M | N/A (Loss) |
| 1996 | ($465.43M) | $121.86M | 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 | 89.59% |
| 2026-03-31 | 83.22% |
| 2025-12-31 | 81.23% |
| 2025-09-30 | 80.92% |
| 2025-06-30 | 83.92% |
| 2025-03-31 | 80.79% |
| 2024-12-31 | 81.39% |
| 2024-09-30 | 82.81% |
| 2024-06-30 | 80.73% |
| 2024-03-31 | 83.31% |
| 2023-12-31 | 82.82% |
| 2023-09-30 | 81.46% |
| 2023-06-30 | 78.69% |
| 2023-03-31 | 77.09% |
| 2022-12-31 | 76.41% |
| 2022-09-30 | 76.71% |
| 2022-06-30 | 76.64% |
| 2022-03-31 | 81.66% |
| 2021-12-31 | 82.78% |
| 2021-09-30 | 86.71% |
| 2021-06-30 | 86.13% |
| 2021-03-31 | 83.77% |
| 2020-12-31 | 80.69% |
| 2020-09-30 | 71.37% |
| 2020-06-30 | 70.77% |
| 2020-03-31 | 66.80% |
| 2019-12-31 | 65.86% |
| 2019-09-30 | 67.61% |
| 2019-06-30 | 69.44% |
| 2019-03-31 | 68.16% |
| 2018-12-31 | 67.93% |
| 2018-09-30 | 67.79% |
| 2018-06-30 | 63.90% |
| 2018-03-31 | 67.06% |
| 2017-12-31 | 71.22% |
| 2017-09-30 | 177.29% |
| 2017-06-30 | 190.26% |
| 2017-03-31 | 186.22% |
| 2016-12-31 | 541.19% |
| 2016-09-30 | 420.63% |
| 2016-06-30 | 404.03% |
| 2016-03-31 | 385.01% |
| 2015-12-31 | 70.97% |
| 2015-09-30 | 68.58% |
| 2015-06-30 | 66.49% |
| 2015-03-31 | 67.25% |
| 2014-12-31 | 72.29% |
| 2014-09-30 | 80.23% |
| 2014-06-30 | 84.19% |
| 2014-03-31 | 81.01% |
| 2013-12-31 | 95.17% |
| 2013-09-30 | 35.09% |
| 2013-06-30 | 32.30% |
| 2013-03-31 | 28.06% |
| 2012-12-31 | 23.56% |
| 2012-09-30 | 133.91% |
| 2009-09-30 | 179.45% |
| 2009-06-30 | 240.43% |
| 2003-09-30 | 292.26% |
