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 169.95% is 34% below its 5-year average of 256.67%, near the low end of its 5-year range (130.52%–614.36%).
As of the fiscal period ended Sunday, June 30, 2019. 19.56% below its 12-month average of 211.28%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
169.95%
FCF PAYOUT RATIO AVG TTM
211.28%
FCF PAYOUT RATIO AVG 3Y
211.28%
FCF PAYOUT RATIO AVG 5Y
256.67%
FCF PAYOUT RATIO AVG 10Y
128.34%
FCF PAYOUT RATIO AVG 15Y
156.67%
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-19.56%
CURRENT VS 3Y AVG
-19.56%
CURRENT VS 5Y AVG
-33.79%
CURRENT VS 10Y AVG
+32.42%
CURRENT VS 15Y AVG
+8.48%
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
170.0%
Earnings Payout Ratio
70.7%
Dividend Yield
3.60%
FCF Yield
N/A
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | ($819.52M) | $422.79M | N/A (Loss) |
| 2024 | ($639.37M) | $394.66M | N/A (Loss) |
| 2023 | ($638.67M) | $386.49M | N/A (Loss) |
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 |
|---|---|
| 2019-06-30 | 169.95% |
| 2019-03-31 | 151.80% |
| 2018-12-31 | 312.09% |
| 2015-03-31 | 614.36% |
| 2014-12-31 | 130.52% |
| 2014-09-30 | 237.99% |
| 2014-06-30 | 179.99% |
| 2014-03-31 | 160.46% |
| 2013-12-31 | 171.73% |
| 2013-09-30 | 71.84% |
| 2013-06-30 | 70.69% |
| 2013-03-31 | 52.13% |
| 2012-12-31 | 79.94% |
| 2012-09-30 | 99.92% |
| 2012-06-30 | 97.52% |
| 2012-03-31 | 348.81% |
| 2011-12-31 | 91.91% |
| 2011-09-30 | 84.35% |
| 2011-06-30 | 97.70% |
| 2011-03-31 | 81.72% |
| 2010-09-30 | 263.77% |
| 2010-06-30 | 71.98% |
| 2010-03-31 | 68.57% |
| 2009-12-31 | 76.96% |
| 2008-09-30 | 435.49% |
| 2008-06-30 | 238.67% |
| 2006-09-30 | 280.27% |
| 2006-06-30 | 329.67% |
| 2006-03-31 | 262.16% |
| 2005-12-31 | 175.50% |
| 2005-09-30 | 298.18% |
| 2005-06-30 | 85.77% |
| 2005-03-31 | 63.32% |
| 2004-12-31 | 54.89% |
| 2004-09-30 | 44.07% |
| 2004-06-30 | 43.15% |
| 2004-03-31 | 51.12% |
| 2003-12-31 | 75.55% |
| 2003-09-30 | 69.10% |
| 2003-06-30 | 81.77% |
| 2022 | ($466.05M) | $378.88M | N/A (Loss) |
| 2021 | ($613.46M) | $369.48M | N/A (Loss) |
| 2020 | ($360.22M) | $350.58M | N/A (Loss) |
| 2019 | ($234.72M) | $329.64M | N/A (Loss) |
| 2018 | $98.97M | $308.89M | 312.1% |
| 2017 | ($290.74M) | $289.79M | N/A (Loss) |
| 2016 | ($252.08M) | $274.23M | N/A (Loss) |
| 2015 | $18.24M | $260.03M | n/m |
| 2014 | $188.99M | $246.67M | 130.5% |
| 2013 | $136.99M | $235.24M | 171.7% |
| 2012 | $281.57M | $225.07M | 79.9% |
| 2011 | $241.23M | $221.73M | 91.9% |
| 2010 | $2.08M | $216.98M | n/m |
| 2009 | $266.46M | $205.08M | 77.0% |
| 2008 | ($122.01M) | $204.25M | N/A (Loss) |
| 2007 | ($260.64M) | $210.47M | N/A (Loss) |
| 2006 | ($344.28M) | $201.22M | N/A (Loss) |
| 2005 | $96.76M | $186.68M | 192.9% |
| 2004 | $303.85M | $166.77M | 54.9% |
| 2003 | $208.35M | $157.42M | 75.6% |
| 2002 | ($24.75M) | $137.72M | N/A (Loss) |
| 2001 | ($469.65M) | $129.20M | N/A (Loss) |
| 2000 | $40.95M | $0 | 0.0% |
| 1999 | $292.20M | $112.30M | 38.4% |
| 1998 | $286.70M | $103.80M | 36.2% |
| 1997 | $637.60M | $96.20M | 15.1% |
| 1996 | $313.90M | $89.60M | 28.5% |
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.
