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AT&T Inc. (T) FCF Payout Ratio: 45.87%

Is AT&T Inc.’s FCF payout ratio high or low?

AT&T Inc.'s FCF payout ratio of 45.87% is 14% below its 5-year average of 53.24%, near the low end of its 5-year range (39.76%–79.53%).

The FCF payout ratio for AT&T Inc. (T) is 45.87%. It is above its 12-month average by 6.15% (43.21%).

T FCF Payout Ratio Chart

T FCF Payout Ratio
42.07%-5.13% 1Y
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T Average FCF Payout Ratio Chart

T Current vs Average FCF Payout Ratio Chart

T FCF Payout Ratio Metrics

FCF PAYOUT RATIO

45.87%

FCF PAYOUT RATIO AVG TTM

43.21%

FCF PAYOUT RATIO AVG 3Y

51.43%

FCF PAYOUT RATIO AVG 5Y

53.24%

FCF PAYOUT RATIO AVG 10Y

56.89%

FCF PAYOUT RATIO AVG 15Y

61.00%

FCF PAYOUT RATIO AVG 20Y

60.95%

CURRENT VS TTM AVG

+6.15%

CURRENT VS 3Y AVG

-10.81%

CURRENT VS 5Y AVG

-13.84%

CURRENT VS 10Y AVG

-19.37%

CURRENT VS 15Y AVG

-24.81%

CURRENT VS 20Y AVG

-24.74%

Payout Ratio Comparison

FCF Payout Ratio

45.9%

Earnings Payout Ratio

36.5%

Dividend Yield

4.79%

FCF Yield

10.65%

Annual FCF Payout Ratio History

YearFree Cash FlowDividends PaidFCF Payout Ratio
2025$19.44B$8.18B42.1%
2024$18.51B$8.21B44.3%
2023$20.46B$8.14B39.8%
2022$12.40B$9.86B79.5%
2021$25.43B$15.07B59.3%
2020$27.45B$14.96B54.5%
2019$29.23B$14.89B50.9%
2018$22.84B$13.41B58.7%
2017$17.36B$12.04B69.3%
2016$17.83B$11.80B66.2%
2015$16.66B$10.20B61.2%
2014$10.14B$9.55B94.2%
2013$13.85B$9.70B70.0%
2012$19.71B$10.24B52.0%
2011$14.54B$10.17B70.0%
2010$15.46B$9.92B64.1%
2009$17.85B$9.67B54.2%
2008$13.98B$9.51B68.0%
2007$16.36B$8.74B53.5%
2006$7.29B$5.15B70.6%
2005$7.40B$4.26B57.5%
2004$5.86B$4.14B70.7%
2003$8.30B$4.54B54.7%
2002$8.40B$3.56B42.3%
2001$3.62B$3.46B95.6%
2000$1.18B$3.42B290.9%
1999$6.27B$3.29B52.4%
1998$2.45B$3.13B127.6%
1997$1.20B$2.97B246.3%
1996$1.80B$1.76B98.2%

Formula: FCF Payout Ratio = Dividends Paid / Free Cash Flow × 100

FCF payout and earnings payout:

  • FCF represents operating cash flow after capital expenditures
  • FCF payout compares dividends paid with free cash flow
  • FCF payout above 100% means dividends paid exceeded free cash flow for the period
  • Earnings payout compares dividends paid with net income

Reading the series: Use the chart and table to compare dividend payments with cash generation over time.

AT&T Inc. FCF Payout Ratio Formula & Definition

FCF Payout Ratio measures what percentage of free cash flow is paid out as dividends. Unlike earnings-based payout, it compares dividends with cash generated after capital expenditures.

Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute

AT&T Inc. FCF Payout Ratio FAQ

What is the FCF payout ratio for AT&T Inc. (T)?
The FCF payout ratio for T stock is 45.87%.
Is AT&T Inc.'s FCF payout ratio high or low?
AT&T Inc.'s FCF payout ratio of 45.87% is 14% below its 5-year average of 53.24%, near the low end of its 5-year range (39.76%–79.53%).
What is the TTM average FCF payout ratio for AT&T Inc. (T)?
The TTM average FCF payout ratio for T stock is 43.21%.
What is the 3Y average FCF payout ratio for AT&T Inc. (T)?
The 3Y average FCF payout ratio for T stock is 51.43%.
What is the 5Y average FCF payout ratio for AT&T Inc. (T)?
The 5Y average FCF payout ratio for T stock is 53.24%.
What is the 10Y average FCF payout ratio for AT&T Inc. (T)?
The 10Y average FCF payout ratio for T stock is 56.89%.
What is the 15Y average FCF payout ratio for AT&T Inc. (T)?
The 15Y average FCF payout ratio for T stock is 61.00%.
What is the 20Y average FCF payout ratio for AT&T Inc. (T)?
The 20Y average FCF payout ratio for T stock is 60.95%.

AT&T Inc. FCF Payout Ratio History

DATEFCF PAYOUT RATIO
2025-12-3142.07%
2024-12-3144.35%
2023-12-3139.76%
2022-12-3179.53%
2021-12-3159.25%
2020-12-3154.47%
2019-12-3150.93%
2018-12-3158.70%
2017-12-3169.33%
2016-12-3166.17%
2015-12-3161.22%
2014-12-3194.21%
2013-12-3170.00%
2012-12-3151.96%
2011-12-3169.97%
2010-12-3164.13%
2009-12-3154.17%
2008-12-3168.00%
2007-12-3153.46%
2006-12-3170.64%
2005-12-3157.53%
2004-12-3170.71%
2003-12-3154.70%
2002-12-3142.34%
2001-12-3195.58%
2000-12-31290.89%
1999-12-3152.39%
1998-12-31127.59%
1997-12-31246.35%
1996-12-3198.22%

About AT&T Inc.

Globally, AT&T Inc. delivers an array of telecommunication, media, and technology offerings. Within its Communications division, the company supplies wireless voice and data communication services. It also markets mobile devices, such as smartphones, wireless data access cards, and portable computing gadgets, alongside accessories like protective cases and hands-free equipment. These products are distributed through AT&T's proprietary outlets, authorized agents, and external retail partners. Furthermore, this segment caters to a broad clientele including multinational corporations, small-to-medium-sized enterprises, government entities, and wholesale clients. For these customers, it delivers an extensive suite of services encompassing data, voice connectivity, cybersecurity, cloud-based solutions, outsourcing, and both managed and professional services, in addition to client-side equipment. Residential consumers also benefit from this division's provision of high-speed fiber optic internet and traditional landline telephone services. Its communication-related offerings and merchandise are promoted under well-known brand names such as AT&T, Cricket, AT&T PREPAID, and AT&T Fiber. The Latin America segment is responsible for delivering wireless communication services within Mexico, as well as video entertainment services across the wider Latin American region. These services and products are branded as AT&T and Unefon. Established in 1983 and headquartered in Dallas, Texas, the corporation was previously known as SBC Communications Inc. and officially adopted the name AT&T Inc. in 2005.

Dallas, TX
139,970 employees
Communication Services / Telecommunications Services
Sector
Communication Services
Industry
Telecommunications Services
CEO
John T. Stankey