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 197.21% is 221% above its 1-year average of 61.48%, near the high end of its 1-year range (21.55%–197.21%).
As of the fiscal period ended Tuesday, March 31, 2020. 220.76% above its 12-month average of 61.48%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
197.21%
FCF PAYOUT RATIO AVG TTM
61.48%
FCF PAYOUT RATIO AVG 3Y
61.48%
FCF PAYOUT RATIO AVG 5Y
61.48%
FCF PAYOUT RATIO AVG 10Y
61.48%
FCF PAYOUT RATIO AVG 15Y
56.91%
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
+220.76%
CURRENT VS 3Y AVG
+220.76%
CURRENT VS 5Y AVG
+220.76%
CURRENT VS 10Y AVG
+220.76%
CURRENT VS 15Y AVG
+246.53%
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
197.2%
Earnings Payout Ratio
N/A
Dividend Yield
N/A
FCF Yield
6.30%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $2.56B | $0 | 0.0% |
| 2024 | $3.83B | $0 | 0.0% |
| 2023 | ($260.00M) | $0 | N/A (Loss) |
| 2022 | $1.25B | $0 | 0.0% |
| 2021 | ($40.00M) | $0 | N/A (Loss) |
| 2020 | ($5.86B) | $353.00M | 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 |
|---|---|
| 2020-03-31 | 197.21% |
| 2019-12-31 | 21.55% |
| 2019-09-30 | 26.89% |
| 2019-06-30 | 29.62% |
| 2019-03-31 | 32.14% |
| 2008-03-31 | 34.06% |
| 2004-06-30 | 0.31% |
| 2004-03-31 | 0.13% |
| 2003-12-31 | 0.21% |
| 2003-09-30 | 0.44% |
| 2019 | $2.38B | $0 | 0.0% |
| 2018 | $2.09B | $0 | 0.0% |
| 2017 | ($396.00M) | $0 | N/A (Loss) |
| 2016 | $2.32B | $0 | 0.0% |
| 2015 | $3.25B | $0 | 0.0% |
| 2014 | $629.00M | $0 | 0.0% |
| 2013 | ($720.00M) | $0 | N/A (Loss) |
| 2012 | ($1.08B) | $0 | N/A (Loss) |
| 2011 | $1.71B | $0 | 0.0% |
| 2010 | $1.54B | $0 | 0.0% |
| 2009 | $649.00M | $0 | 0.0% |
| 2008 | ($1.65B) | $253.00M | N/A (Loss) |
| 2007 | $1.48B | $0 | 0.0% |
| 2006 | $1.20B | $0 | 0.0% |
| 2005 | $609.00M | $0 | 0.0% |
| 2004 | ($168.00M) | $0 | N/A (Loss) |
| 2003 | $851.00M | $0 | 0.0% |
| 2002 | ($1.30B) | $7.00M | N/A (Loss) |
| 2001 | ($2.11B) | $88.00M | N/A (Loss) |
| 2000 | ($66.00M) | $118.00M | N/A (Loss) |
| 1999 | $32.00M | $10.00M | 31.3% |
| 1998 | $362.00M | $10.00M | 2.8% |
| 1997 | ($245.00M) | $10.00M | N/A (Loss) |
| 1996 | $915.00M | $22.00M | 2.4% |
