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 20.45% is 56% below its 5-year average of 46.06%, near the low end of its 5-year range (6.76%–386.46%).
As of the fiscal period ended Saturday, May 2, 2026. 22.60% below its 12-month average of 26.42%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
20.45%
FCF PAYOUT RATIO AVG TTM
26.42%
FCF PAYOUT RATIO AVG 3Y
26.31%
FCF PAYOUT RATIO AVG 5Y
26.28%
FCF PAYOUT RATIO AVG 10Y
21.96%
FCF PAYOUT RATIO AVG 15Y
23.26%
FCF PAYOUT RATIO AVG 20Y
20.99%
CURRENT VS TTM AVG
-22.60%
CURRENT VS 3Y AVG
-22.25%
CURRENT VS 5Y AVG
-22.17%
CURRENT VS 10Y AVG
-6.88%
CURRENT VS 15Y AVG
-12.06%
CURRENT VS 20Y AVG
-2.55%
FCF Payout Ratio TTM
20.5%
Earnings Payout Ratio
25.5%
Dividend Yield
0.71%
FCF Yield
3.43%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2026 | $2.21B | $528.09M | 23.9% |
| 2025 | $1.64B | $488.72M | 29.9% |
| 2024 | $1.75B | $454.81M | 26.0% |
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 |
|---|---|
| 2026-05-02 | 20.45% |
| 2026-01-31 | 23.92% |
| 2025-11-01 | 26.40% |
| 2025-08-02 | 30.30% |
| 2025-05-03 | 31.04% |
| 2025-01-31 | 29.86% |
| 2024-11-02 | 28.47% |
| 2024-08-03 | 29.01% |
| 2024-05-04 | 26.65% |
| 2024-01-31 | 25.96% |
| 2023-10-28 | 22.37% |
| 2023-07-29 | 21.21% |
| 2023-04-29 | 24.19% |
| 2023-01-31 | 41.66% |
| 2022-10-29 | 386.46% |
| 2022-01-31 | 34.30% |
| 2021-10-30 | 20.00% |
| 2021-07-31 | 6.76% |
| 2021-05-01 | 2.78% |
| 2021-01-31 | 5.51% |
| 2020-10-31 | 9.41% |
| 2020-08-01 | 40.35% |
| 2020-01-31 | 22.88% |
| 2019-11-02 | 24.02% |
| 2019-08-03 | 21.44% |
| 2019-05-04 | 20.64% |
| 2019-01-31 | 20.40% |
| 2018-11-03 | 20.09% |
| 2018-08-04 | 19.29% |
| 2018-05-05 | 21.49% |
| 2018-01-31 | 18.90% |
| 2017-10-28 | 17.73% |
| 2017-07-29 | 18.41% |
| 2017-04-29 | 16.95% |
| 2017-01-31 | 17.02% |
| 2016-10-29 | 16.18% |
| 2016-07-30 | 17.04% |
| 2016-04-30 | 18.99% |
| 2016-01-31 | 20.05% |
| 2015-10-31 | 24.15% |
| 2015-08-01 | 28.43% |
| 2015-05-02 | 25.78% |
| 2015-01-31 | 23.20% |
| 2014-11-01 | 25.36% |
| 2014-08-02 | 22.62% |
| 2014-05-03 | 26.75% |
| 2014-01-31 | 31.37% |
| 2013-11-02 | 33.76% |
| 2013-08-03 | 29.55% |
| 2013-05-04 | 23.01% |
| 2013-01-31 | 22.64% |
| 2012-10-27 | 19.53% |
| 2012-07-28 | 15.36% |
| 2012-04-28 | 16.04% |
| 2012-01-31 | 25.27% |
| 2011-10-29 | 25.28% |
| 2011-07-30 | 32.83% |
| 2011-04-30 | 28.66% |
| 2011-01-31 | 16.30% |
| 2010-10-30 | 13.15% |
| 2010-07-31 | 10.84% |
| 2010-05-01 | 8.99% |
| 2010-01-31 | 7.56% |
| 2009-10-31 | 8.67% |
| 2009-08-01 | 10.57% |
| 2009-05-02 | 11.46% |
| 2009-01-31 | 13.88% |
| 2008-11-01 | 13.28% |
| 2008-08-02 | 10.98% |
| 2008-05-03 | 12.27% |
| 2008-01-31 | 34.60% |
| 2007-11-03 | 43.75% |
| 2007-08-04 | 23.08% |
| 2007-05-05 | 43.05% |
| 2007-01-31 | 11.89% |
| 2006-10-28 | 15.19% |
| 2006-07-29 | 18.57% |
| 2006-04-29 | 15.40% |
| 2006-01-31 | 15.41% |
| 2005-10-29 | 10.14% |
| 2005-07-30 | 17.11% |
| 2005-04-30 | 18.11% |
| 2005-01-31 | 23.95% |
| 2004-10-30 | 41.21% |
| 2004-07-31 | 28.91% |
| 2004-05-01 | 8.71% |
| 2004-01-31 | 10.41% |
| 2003-11-01 | 14.18% |
| 2003-08-02 | 10.18% |
| 2003-05-03 | 13.39% |
| 2023 |
| $1.04B |
| $431.30M |
| 41.7% |
| 2022 | $1.18B | $405.12M | 34.3% |
| 2021 | $1.84B | $101.40M | 5.5% |
| 2020 | $1.62B | $369.79M | 22.9% |
| 2019 | $1.65B | $337.19M | 20.4% |
| 2018 | $1.31B | $247.53M | 18.9% |
| 2017 | $1.26B | $214.64M | 17.0% |
| 2016 | $959.29M | $192.31M | 20.0% |
| 2015 | $726.17M | $168.45M | 23.2% |
| 2014 | $471.49M | $147.92M | 31.4% |
| 2013 | $555.21M | $125.69M | 22.6% |
| 2012 | $403.83M | $102.04M | 25.3% |
| 2011 | $474.42M | $77.32M | 16.3% |
| 2010 | $729.90M | $55.20M | 7.6% |
| 2009 | $359.02M | $49.84M | 13.9% |
| 2008 | $117.44M | $40.64M | 34.6% |
| 2007 | $282.91M | $33.63M | 11.9% |
| 2006 | $199.34M | $30.71M | 15.4% |
| 2005 | $148.62M | $25.26M | 17.0% |
| 2004 | $168.78M | $17.57M | 10.4% |
| 2003 | $215.86M | $14.85M | 6.9% |
| 2002 | $156.89M | $13.60M | 8.7% |
| 2001 | $61.23M | $12.42M | 20.3% |
| 2000 | $109.35M | $11.76M | 10.8% |
| 1999 | $122.00M | $10.35M | 8.5% |
| 1998 | $84.60M | $8.81M | 10.4% |
| 1997 | $80.00M | $7.00M | 8.8% |
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.
