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 30.80% is in line with its 5-year average of 33.49%, around the middle of its 5-year range (16.47%–49.38%).
As of the fiscal period ended Saturday, May 23, 2026. 16.05% below its 12-month average of 36.69%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
30.80%
FCF PAYOUT RATIO AVG TTM
36.69%
FCF PAYOUT RATIO AVG 3Y
37.19%
FCF PAYOUT RATIO AVG 5Y
33.49%
FCF PAYOUT RATIO AVG 10Y
33.59%
FCF PAYOUT RATIO AVG 15Y
32.40%
FCF PAYOUT RATIO AVG 20Y
31.20%
CURRENT VS TTM AVG
-16.05%
CURRENT VS 3Y AVG
-17.16%
CURRENT VS 5Y AVG
-8.01%
CURRENT VS 10Y AVG
-8.30%
CURRENT VS 15Y AVG
-4.91%
CURRENT VS 20Y AVG
-1.25%
FCF Payout Ratio TTM
30.8%
Earnings Payout Ratio
89.7%
Dividend Yield
2.46%
FCF Yield
8.25%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $3.35B | $885.00M | 26.4% |
| 2025 | $1.78B | $883.00M | 49.7% |
| 2024 | $2.88B | $796.00M | 27.6% |
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 |
|---|---|
| 2026-05-23 | 30.80% |
| 2026-01-31 | 25.08% |
| 2025-11-08 | 39.64% |
| 2025-08-16 | 40.01% |
| 2025-05-24 | 47.94% |
| 2025-02-01 | 49.38% |
| 2024-11-09 | 39.30% |
| 2024-08-17 | 47.46% |
| 2024-05-25 | 38.93% |
| 2024-02-03 | 27.60% |
| 2023-11-04 | 33.59% |
| 2023-08-12 | 26.51% |
| 2023-05-20 | 24.73% |
| 2023-01-28 | 48.03% |
| 2022-11-05 | 34.76% |
| 2022-08-13 | 22.46% |
| 2022-05-21 | 24.23% |
| 2022-01-29 | 16.47% |
| 2021-11-06 | 20.07% |
| 2021-08-14 | 32.74% |
| 2021-05-22 | 29.58% |
| 2021-01-30 | 13.52% |
| 2020-11-07 | 14.06% |
| 2020-08-15 | 13.17% |
| 2020-05-23 | 13.48% |
| 2020-02-01 | 31.64% |
| 2019-11-09 | 33.36% |
| 2019-08-17 | 40.36% |
| 2019-05-25 | 46.12% |
| 2019-02-02 | 36.51% |
| 2018-11-10 | 37.32% |
| 2018-08-18 | 75.30% |
| 2018-05-26 | 61.13% |
| 2018-02-03 | 73.34% |
| 2017-11-04 | 42.12% |
| 2017-08-12 | 32.25% |
| 2017-05-20 | 39.75% |
| 2017-01-28 | 74.87% |
| 2016-11-05 | 60.23% |
| 2016-08-13 | 28.51% |
| 2016-05-21 | 25.02% |
| 2016-01-30 | 25.72% |
| 2015-11-07 | 31.46% |
| 2015-08-15 | 34.95% |
| 2015-05-23 | 29.24% |
| 2015-01-31 | 24.96% |
| 2014-11-08 | 25.27% |
| 2014-08-16 | 35.29% |
| 2014-05-24 | 29.52% |
| 2014-02-01 | 30.38% |
| 2013-11-09 | 28.18% |
| 2013-08-17 | 23.69% |
| 2013-05-25 | 27.81% |
| 2013-02-02 | 34.62% |
| 2012-11-03 | 46.08% |
| 2012-08-11 | 47.67% |
| 2012-05-19 | 31.78% |
| 2012-01-28 | 33.85% |
| 2011-11-05 | 19.26% |
| 2011-08-13 | 18.99% |
| 2011-05-21 | 22.09% |
| 2011-01-29 | 17.30% |
| 2010-11-06 | 21.76% |
| 2010-08-14 | 23.49% |
| 2010-05-22 | 24.42% |
| 2010-01-30 | 38.04% |
| 2009-11-07 | 42.92% |
| 2009-08-15 | 37.30% |
| 2009-05-23 | 37.17% |
| 2009-01-31 | 30.39% |
| 2008-11-08 | 35.61% |
| 2008-08-16 | 47.32% |
| 2008-05-24 | 28.65% |
| 2008-02-02 | 44.40% |
| 2007-11-10 | 29.67% |
| 2007-08-18 | 28.87% |
| 2007-05-26 | 30.74% |
| 2007-02-03 | 20.96% |
| 2006-11-04 | 18.76% |
| 2006-08-12 | 5.54% |
| 2023 |
| $1.23B |
| $682.00M |
| 55.3% |
| 2022 | $3.58B | $589.00M | 16.5% |
| 2021 | $3.95B | $534.00M | 13.5% |
| 2020 | $1.54B | $486.00M | 31.6% |
| 2019 | $1.20B | $437.00M | 36.5% |
| 2018 | $604.00M | $443.00M | 73.3% |
| 2017 | $573.00M | $429.00M | 74.9% |
| 2016 | $1.57B | $385.00M | 24.6% |
| 2015 | $1.38B | $338.00M | 24.4% |
| 2014 | $1.05B | $319.00M | 30.4% |
| 2013 | $892.00M | $267.00M | 29.9% |
| 2012 | $760.70M | $257.40M | 33.8% |
| 2011 | $1.45B | $250.00M | 17.3% |
| 2010 | $625.30M | $237.60M | 38.0% |
| 2009 | $747.00M | $227.00M | 30.4% |
| 2008 | $455.00M | $202.00M | 44.4% |
| 2007 | $668.00M | $140.00M | 21.0% |
| 2006 | $886.00M | $0 | 0.0% |
| 2005 | $696.00M | $0 | 0.0% |
| 2004 | $215.00M | $0 | 0.0% |
| 2003 | $1.29B | $0 | 0.0% |
| 2002 | $208.00M | $0 | 0.0% |
| 2001 | $658.00M | $0 | 0.0% |
| 2000 | ($143.00M) | $0 | N/A (Loss) |
| 1998 | $192.00M | $0 | 0.0% |
| 1997 | $171.00M | $0 | 0.0% |
| 1996 | ($234.50M) | $0 | 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.
