Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
The FCF payout ratio is 96.28% as of the fiscal period ended Tuesday, March 31, 2026.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
96.28%
FCF PAYOUT RATIO AVG TTM
95.55%
FCF PAYOUT RATIO AVG 3Y
97.72%
FCF PAYOUT RATIO AVG 5Y
94.65%
FCF PAYOUT RATIO AVG 10Y
88.83%
FCF PAYOUT RATIO AVG 15Y
86.00%
FCF PAYOUT RATIO AVG 20Y
86.00%
CURRENT VS TTM AVG
+0.77%
CURRENT VS 3Y AVG
-1.47%
CURRENT VS 5Y AVG
+1.72%
CURRENT VS 10Y AVG
+8.39%
CURRENT VS 15Y AVG
+11.95%
CURRENT VS 20Y AVG
+11.95%
FCF Payout Ratio TTM
96.3%
Earnings Payout Ratio
152.7%
Dividend Yield
4.34%
FCF Yield
6.80%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $613.95M | $572.69M | 93.3% |
| 2024 | $605.16M | $563.33M | 93.1% |
| 2023 | $520.32M | $544.62M | 104.7% |
| 2022 | $584.06M | $488.00M | 83.6% |
| 2021 | $497.44M | $438.00M | 88.1% |
| 2020 | $430.20M | $423.57M | 98.5% |
| 2019 | $446.36M | $387.14M | 86.7% |
| 2018 | $443.47M | $346.08M | 78.0% |
| 2017 | $393.00M | $331.50M | 84.4% |
| 2016 | $440.64M | $312.64M | 71.0% |
| 2015 | $314.17M | $286.89M | 91.3% |
| 2014 | $290.18M | $259.82M | 89.5% |
| 2013 | $270.73M | $235.55M | 87.0% |
| 2012 | $164.52M | $214.42M | 130.3% |
| 2011 | ($948.22M) | $159.76M | N/A (Loss) |
| 2010 | ($303.86M) | $130.22M | N/A (Loss) |
| 2009 | ($73.97M) | $155.78M | N/A (Loss) |
| 2008 | ($1.06B) | $179.41M | N/A (Loss) |
| 2007 | ($485.85M) | $189.24M | N/A (Loss) |
| 2006 | ($457.03M) | $182.16M | N/A (Loss) |
| 2005 | ($374.23M) | $178.37M | N/A (Loss) |
| 2004 | ($607.32M) | $167.73M | N/A (Loss) |
| 2003 | ($148.44M) | $155.72M | N/A (Loss) |
| 2002 | ($428.56M) | $144.54M | N/A (Loss) |
| 2001 | $21.13M | $142.82M | 675.9% |
| 2000 | $7.67M | $147.01M | n/m |
| 1999 | ($271.00M) | $144.57M | N/A (Loss) |
| 1998 | ($489.13M) | $125.69M | N/A (Loss) |
| 1997 | ($609.36M) | $102.05M | N/A (Loss) |
| 1996 | $18.52M | $63.69M | 343.9% |
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 | 96.28% |
| 2025-12-31 | 95.08% |
| 2025-09-30 | 94.75% |
| 2025-06-30 | 95.57% |
| 2025-03-31 | 96.05% |
| 2024-12-31 | 93.09% |
| 2024-09-30 | 98.07% |
| 2024-06-30 | 103.82% |
| 2024-03-31 | 106.95% |
| 2023-12-31 | 104.67% |
| 2023-09-30 | 102.36% |
| 2023-06-30 | 97.27% |
| 2023-03-31 | 86.34% |
| 2022-12-31 | 83.55% |
| 2022-09-30 | 81.82% |
| 2022-06-30 | 83.40% |
| 2022-03-31 | 85.55% |
| 2021-12-31 | 88.05% |
| 2021-09-30 | 95.79% |
| 2021-06-30 | 97.59% |
| 2021-03-31 | 101.69% |
| 2020-12-31 | 98.46% |
| 2020-09-30 | 92.01% |
| 2020-06-30 | 84.68% |
| 2020-03-31 | 89.99% |
| 2019-12-31 | 86.73% |
| 2019-09-30 | 83.27% |
| 2019-06-30 | 81.68% |
| 2019-03-31 | 82.02% |
| 2018-12-31 | 78.04% |
| 2018-09-30 | 80.32% |
| 2018-06-30 | 81.63% |
| 2018-03-31 | 81.31% |
| 2017-12-31 | 84.35% |
| 2017-09-30 | 78.74% |
| 2017-06-30 | 71.47% |
| 2017-03-31 | 70.70% |
| 2016-12-31 | 70.95% |
| 2016-09-30 | 74.74% |
| 2016-06-30 | 93.21% |
| 2016-03-31 | 89.87% |
| 2015-12-31 | 91.32% |
| 2015-09-30 | 88.27% |
| 2015-06-30 | 82.46% |
| 2015-03-31 | 85.17% |
| 2014-12-31 | 89.54% |
| 2014-09-30 | 64.23% |
| 2014-06-30 | 64.68% |
| 2014-03-31 | 68.12% |
| 2013-12-31 | 69.30% |
| 2013-09-30 | 45.32% |
| 2013-06-30 | 51.57% |
| 2013-03-31 | 59.61% |
| 2012-12-31 | 67.57% |
| 2005-09-30 | 24.97% |
| 2005-06-30 | 49.96% |
| 2005-03-31 | 63.43% |
| 2004-12-31 | 66.63% |
| 2004-06-30 | 79.15% |
| 2004-03-31 | 165.32% |
| 2003-12-31 | 66.28% |
