Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
The FCF payout ratio is 70.86% as of the fiscal period ended Tuesday, March 31, 2026.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
70.86%
FCF PAYOUT RATIO AVG TTM
77.82%
FCF PAYOUT RATIO AVG 3Y
72.84%
FCF PAYOUT RATIO AVG 5Y
58.60%
FCF PAYOUT RATIO AVG 10Y
75.20%
FCF PAYOUT RATIO AVG 15Y
76.94%
FCF PAYOUT RATIO AVG 20Y
68.76%
CURRENT VS TTM AVG
-8.95%
CURRENT VS 3Y AVG
-2.72%
CURRENT VS 5Y AVG
+20.92%
CURRENT VS 10Y AVG
-5.77%
CURRENT VS 15Y AVG
-7.90%
CURRENT VS 20Y AVG
+3.05%
FCF Payout Ratio TTM
70.9%
Earnings Payout Ratio
151.8%
Dividend Yield
6.65%
FCF Yield
5.29%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $858.00M | $623.00M | 72.6% |
| 2024 | $950.00M | $737.00M | 77.6% |
| 2023 | $795.00M | $547.00M | 68.8% |
| 2022 | $912.00M | $150.00M | 16.4% |
| 2021 | ($135.00M) | $0 | N/A (Loss) |
| 2020 | ($806.00M) | $320.00M | N/A (Loss) |
| 2019 | $692.00M | $623.00M | 90.0% |
| 2018 | $826.00M | $629.00M | 76.2% |
| 2017 | $953.00M | $628.00M | 65.9% |
| 2016 | $753.00M | $596.00M | 79.2% |
| 2015 | $499.00M | $646.00M | 129.5% |
| 2014 | $714.00M | $469.00M | 65.7% |
| 2013 | $560.00M | $313.00M | 55.9% |
| 2012 | $144.00M | $187.00M | 129.9% |
| 2011 | $119.00M | $70.00M | 58.8% |
| 2010 | $194.00M | $30.00M | 15.5% |
| 2009 | $212.00M | $54.00M | 25.5% |
| 2008 | $348.00M | $531.00M | 152.6% |
| 2007 | $1.00B | $453.00M | 45.3% |
| 2006 | $327.00M | $309.00M | 94.5% |
| 2005 | $163.00M | $132.00M | 81.0% |
| 2004 | $110.00M | $56.00M | 50.9% |
| 2003 | $172.00M | $35.00M | 20.3% |
| 2002 | $284.00M | $35.00M | 12.3% |
| 2001 | ($253.00M) | $284.00M | N/A (Loss) |
| 2000 | $104.00M | $209.00M | 201.0% |
| 1999 | ($418.00M) | $219.00M | N/A (Loss) |
| 1998 | ($899.00M) | $0 | N/A (Loss) |
| 1997 | $304.00M | $0 | 0.0% |
| 1996 | $42.00M | $0 | 0.0% |
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 |
|---|---|
| 2026-03-31 | 70.86% |
| 2025-12-31 | 72.27% |
| 2025-09-30 | 93.14% |
| 2025-06-30 | 77.82% |
| 2025-03-31 | 75.03% |
| 2024-12-31 | 78.07% |
| 2024-09-30 | 78.89% |
| 2024-06-30 | 77.99% |
| 2024-03-31 | 70.95% |
| 2023-12-31 | 68.81% |
| 2023-09-30 | 57.71% |
| 2023-06-30 | 46.97% |
| 2023-03-31 | 40.43% |
| 2022-12-31 | 16.45% |
| 2022-09-30 | 8.34% |
| 2022-06-30 | 3.80% |
| 2020-03-31 | 99.19% |
| 2019-12-31 | 90.03% |
| 2019-09-30 | 86.38% |
| 2019-06-30 | 83.33% |
| 2019-03-31 | 79.75% |
| 2018-12-31 | 76.15% |
| 2018-09-30 | 68.52% |
| 2018-06-30 | 67.06% |
| 2018-03-31 | 65.62% |
| 2017-12-31 | 65.90% |
| 2017-09-30 | 66.11% |
| 2017-06-30 | 65.97% |
| 2017-03-31 | 74.94% |
| 2016-12-31 | 79.15% |
| 2016-09-30 | 93.71% |
| 2016-06-30 | 110.74% |
| 2016-03-31 | 105.83% |
| 2015-12-31 | 129.46% |
| 2015-09-30 | 116.10% |
| 2015-06-30 | 100.16% |
| 2015-03-31 | 93.73% |
| 2014-12-31 | 65.69% |
| 2014-09-30 | 57.36% |
| 2014-06-30 | 53.70% |
| 2014-03-31 | 58.64% |
| 2013-12-31 | 55.89% |
| 2013-09-30 | 56.11% |
| 2013-06-30 | 66.94% |
| 2013-03-31 | 76.41% |
| 2012-12-31 | 129.86% |
| 2012-09-07 | 654.17% |
| 2012-06-15 | 198.44% |
| 2012-03-23 | 112.64% |
| 2011-12-31 | 58.82% |
| 2011-09-09 | 62.03% |
| 2011-06-17 | 35.16% |
| 2011-03-25 | 22.46% |
| 2010-12-31 | 13.92% |
| 2010-09-10 | 13.77% |
| 2010-06-18 | 14.93% |
| 2010-03-26 | 15.00% |
| 2009-12-31 | 26.89% |
| 2009-09-11 | 69.19% |
| 2009-06-19 | 83.06% |
| 2009-03-27 | 129.64% |
| 2008-12-31 | 159.20% |
| 2008-09-05 | 54.32% |
| 2008-06-13 | 39.77% |
| 2008-03-21 | 37.28% |
| 2007-12-31 | 38.98% |
| 2007-09-07 | 87.45% |
| 2007-06-15 | 243.33% |
| 2007-03-23 | 239.63% |
| 2006-12-31 | 94.50% |
| 2006-09-08 | 95.74% |
| 2006-06-16 | 125.48% |
| 2006-03-24 | 124.64% |
| 2005-12-31 | 80.98% |
| 2005-09-09 | 63.89% |
| 2005-06-17 | 50.91% |
| 2005-03-25 | 56.00% |
| 2004-12-31 | 50.91% |
| 2004-09-10 | 20.22% |
| 2004-06-18 | 22.73% |
| 2004-03-26 | 18.23% |
| 2003-12-31 | 20.35% |
| 2003-09-12 | 15.22% |
| 2003-06-20 | 11.15% |
| 2003-03-28 | 9.02% |
