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 126.15% is 106% above its 5-year average of 61.21%, around the middle of its 5-year range (10.83%–345.83%).
As of the fiscal period ended Tuesday, June 30, 2026. 116.53% above its 12-month average of 58.26%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
126.15%
FCF PAYOUT RATIO AVG TTM
58.26%
FCF PAYOUT RATIO AVG 3Y
40.91%
FCF PAYOUT RATIO AVG 5Y
25.32%
FCF PAYOUT RATIO AVG 10Y
18.91%
FCF PAYOUT RATIO AVG 15Y
23.80%
FCF PAYOUT RATIO AVG 20Y
18.68%
CURRENT VS TTM AVG
+116.53%
CURRENT VS 3Y AVG
+208.38%
CURRENT VS 5Y AVG
+398.30%
CURRENT VS 10Y AVG
+567.09%
CURRENT VS 15Y AVG
+430.00%
CURRENT VS 20Y AVG
+575.39%
FCF Payout Ratio TTM
126.1%
Earnings Payout Ratio
44.7%
Dividend Yield
1.56%
FCF Yield
1.42%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $766.00M | $411.00M | 53.7% |
| 2024 | $1.83B | $405.00M | 22.1% |
| 2023 | ($819.00M) | $381.00M | N/A (Loss) |
| 2022 | ($7.00M) | $332.00M | N/A (Loss) |
| 2021 | $224.00M | $319.00M | 142.4% |
| 2020 | $1.61B | $295.00M | 18.4% |
| 2019 | $1.19B | $32.00M | 2.7% |
| 2018 | $989.00M | $37.00M | 3.7% |
| 2017 | $1.36B | $38.00M | 2.8% |
| 2016 | $1.11B | $76.00M | 6.8% |
| 2015 | $26.00M | $201.00M | 773.1% |
| 2014 | $601.00M | $196.00M | 32.6% |
| 2013 | ($717.00M) | $154.00M | N/A (Loss) |
| 2012 | ($2.25B) | $50.00M | N/A (Loss) |
| 2011 | ($1.14B) | $9.00M | N/A (Loss) |
| 2010 | $917.00M | $9.00M | 1.0% |
| 2009 | $1.37B | $33.00M | 2.4% |
| 2008 | $535.00M | $55.00M | 10.3% |
| 2007 | $1.04B | $55.00M | 5.3% |
| 2006 | $187.00M | $50.00M | 26.7% |
| 2005 | ($38.00M) | $20.00M | N/A (Loss) |
| 2004 | $526.00M | $0 | 0.0% |
| 2003 | ($474.43M) | $0 | N/A (Loss) |
| 2002 | ($1.01B) | $0 | N/A (Loss) |
| 2001 | ($1.05B) | $0 | N/A (Loss) |
| 2000 | $138.42M | $0 | 0.0% |
| 1999 | ($106.23M) | $0 | N/A (Loss) |
| 1998 | ($9.72M) | $0 | N/A (Loss) |
| 1997 | $7.29M | $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 |
|---|---|
| 2026-06-30 | 126.15% |
| 2025-12-31 | 53.66% |
| 2025-09-30 | 23.96% |
| 2025-06-30 | 29.27% |
| 2025-03-31 | 17.94% |
| 2024-12-31 | 22.08% |
| 2024-09-30 | 33.89% |
| 2024-06-30 | 24.41% |
| 2024-03-31 | 36.82% |
| 2022-09-30 | 345.83% |
| 2022-06-30 | 10.83% |
| 2022-03-31 | 11.49% |
| 2021-12-31 | 142.41% |
| 2021-09-30 | 15.28% |
| 2021-06-30 | 24.17% |
| 2021-03-31 | 62.06% |
| 2020-12-31 | 18.36% |
| 2020-09-30 | 13.45% |
| 2020-06-30 | 11.10% |
| 2020-03-31 | 6.52% |
| 2019-12-31 | 2.70% |
| 2019-09-30 | 3.55% |
| 2019-06-30 | 3.31% |
| 2019-03-31 | 5.77% |
| 2018-12-31 | 3.79% |
| 2018-09-30 | 2.51% |
| 2018-06-30 | 1.85% |
| 2018-03-31 | 2.11% |
| 2017-12-31 | 2.87% |
| 2017-09-30 | 7.25% |
| 2017-06-30 | 50.00% |
| 2017-03-31 | 18.32% |
| 2016-12-31 | 9.49% |
| 2016-09-30 | 34.74% |
| 2016-06-30 | 41.60% |
| 2016-03-31 | 70.46% |
| 2015-12-31 | 773.08% |
| 2015-09-30 | 32.05% |
| 2015-06-30 | 34.67% |
| 2015-03-31 | 46.92% |
| 2014-12-31 | 33.50% |
| 2014-09-30 | 37.71% |
| 2014-06-30 | 34.06% |
| 2014-03-31 | 43.85% |
| 2011-06-30 | 37.50% |
| 2011-03-31 | 0.99% |
| 2010-12-31 | 1.06% |
| 2010-09-30 | 0.99% |
| 2010-06-30 | 1.31% |
| 2010-03-31 | 1.51% |
| 2009-12-31 | 2.41% |
| 2009-09-30 | 5.51% |
| 2009-06-30 | 5.96% |
| 2009-03-31 | 10.13% |
| 2008-12-31 | 10.44% |
| 2008-09-30 | 8.55% |
| 2008-06-30 | 7.96% |
| 2008-03-31 | 7.18% |
| 2007-12-31 | 6.29% |
| 2006-12-31 | 25.00% |
| 2006-09-30 | 4.37% |
| 2006-06-30 | 7.82% |
| 2006-03-31 | 10.33% |
| 2005-06-30 | 2.40% |
| 2005-03-31 | 1.46% |
