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 50.63% is in line with its 3-year average of 51.84%, near the low end of its 3-year range (12.72%–198.30%).
As of the fiscal period ended Tuesday, March 31, 2026. 45.86% below its 12-month average of 93.52%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
50.63%
FCF PAYOUT RATIO AVG TTM
93.52%
FCF PAYOUT RATIO AVG 3Y
41.09%
FCF PAYOUT RATIO AVG 5Y
N/A
FCF PAYOUT RATIO AVG 10Y
N/A
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-45.86%
CURRENT VS 3Y AVG
+23.21%
CURRENT VS 5Y AVG
N/A
CURRENT VS 10Y AVG
N/A
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
50.6%
Earnings Payout Ratio
50.8%
Dividend Yield
3.03%
FCF Yield
6.20%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $687.21M | $1.48B | 215.9% |
| 2024 | $6.06B | $1.13B | 18.7% |
| 2023 | $5.56B | $949.47M | 17.1% |
| 2022 | $5.19B | $1.90B | 36.5% |
| 2021 | $3.74B | $0 | 0.0% |
| 2020 | $5.34B | $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 | 50.63% |
| 2025-12-31 | 198.30% |
| 2025-09-30 | 90.64% |
| 2025-06-30 | 103.61% |
| 2025-03-31 | 24.43% |
| 2024-12-31 | 20.57% |
| 2024-09-30 | 21.35% |
| 2024-06-30 | 12.72% |
| 2024-03-31 | 13.84% |
| 2023-12-31 | 18.22% |
| 2023-09-30 | 34.14% |
| 2023-06-30 | 40.14% |
| 2023-03-31 | 62.81% |
| 2022-12-31 | 34.36% |
| 0.0% |
| 2019 | $3.05B | $0 | 0.0% |
| 2018 | ($70.97M) | $0 | N/A (Loss) |
| 2017 | $2.07B | $0 | 0.0% |
| 2016 | $620.19M | $0 | 0.0% |
| 2015 | ($1.10B) | $0 | N/A (Loss) |
| 2014 | ($304.19M) | $0 | N/A (Loss) |
| 2013 | $376.05M | $0 | 0.0% |
| 2012 | $41.05M | $0 | 0.0% |
| 2011 | ($112.65M) | $0 | N/A (Loss) |
