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 9.01% is 38% above its 1-year average of 6.54%, near the high end of its 1-year range (3.11%–9.07%).
As of the fiscal period ended Tuesday, March 31, 2026. 37.66% above its 12-month average of 6.54%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
9.01%
FCF PAYOUT RATIO AVG TTM
6.54%
FCF PAYOUT RATIO AVG 3Y
6.54%
FCF PAYOUT RATIO AVG 5Y
6.54%
FCF PAYOUT RATIO AVG 10Y
25.05%
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+37.66%
CURRENT VS 3Y AVG
+37.66%
CURRENT VS 5Y AVG
+37.66%
CURRENT VS 10Y AVG
-64.04%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
9.0%
Earnings Payout Ratio
8.4%
Dividend Yield
0.55%
FCF Yield
5.88%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $4.08B | $370.30M | 9.1% |
| 2024 | $3.66B | $0 | 0.0% |
| 2023 | $3.67B | $0 | 0.0% |
| 2022 | $4.42B | $0 | 0.0% |
| 2021 | $6.53B | $0 | 0.0% |
| 2020 | $2.00B | $0 | 0.0% |
| 2019 | $2.00B | $0 | 0.0% |
| 2018 | $1.81B | $0 | 0.0% |
| 2017 | $1.03B | $0 | 0.0% |
| 2016 | $974.00M | $0 | 0.0% |
| 2015 | $652.85M | $0 | 0.0% |
| 2014 | $419.43M | $0 | 0.0% |
| 2013 | $432.27M | $0 | 0.0% |
| 2012 | ($123.95M) | $0 | N/A (Loss) |
| 2011 | ($198.90M) | $0 | N/A (Loss) |
| 2010 | ($3.35M) | $0 | N/A (Loss) |
| 2009 | ($169.55M) | $0 | N/A (Loss) |
| 2008 | ($123.94M) | $0 | N/A (Loss) |
| 2007 | $8.93M | $0 | 0.0% |
| 2006 | $20.26M | $0 | 0.0% |
| 2005 | ($35.26M) | $0 | N/A (Loss) |
| 2004 | ($23.08M) | $0 | N/A (Loss) |
| 2003 | ($35.79M) | $0 | N/A (Loss) |
| 2002 | ($144.89M) | $0 | N/A (Loss) |
| 2001 | ($65.54M) | $0 | N/A (Loss) |
| 2000 | ($34.41M) | $0 | N/A (Loss) |
| 1999 | ($19.50M) | $0 | N/A (Loss) |
| 1998 | ($13.20M) | $0 | N/A (Loss) |
| 1997 | ($8.20M) | $0 | N/A (Loss) |
| 1996 | ($28.90M) | $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.
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 | 9.01% |
| 2025-12-31 | 9.07% |
| 2025-09-30 | 6.68% |
| 2025-06-30 | 4.85% |
| 2025-03-31 | 3.11% |
| 2018-09-30 | 14.97% |
| 2018-06-30 | 14.90% |
| 2018-03-31 | 19.22% |
| 2017-12-31 | 23.57% |
| 2017-09-30 | 38.41% |
| 2017-06-30 | 31.98% |
| 2017-03-31 | 26.95% |
| 2016-12-31 | 62.35% |
| 2016-09-30 | 40.77% |
| 2016-06-30 | 69.92% |
| 2016-03-31 | 87.93% |
| 2015-12-31 | 90.00% |
| 2015-09-30 | 109.41% |
| 2015-03-31 | 191.94% |
| 2014-12-31 | 70.23% |
| 2014-09-30 | 26.17% |
| 2014-06-30 | 27.36% |
