Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
The FCF payout ratio is 73.57% 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
73.57%
FCF PAYOUT RATIO AVG TTM
73.67%
FCF PAYOUT RATIO AVG 3Y
73.62%
FCF PAYOUT RATIO AVG 5Y
73.71%
FCF PAYOUT RATIO AVG 10Y
N/A
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-0.14%
CURRENT VS 3Y AVG
-0.08%
CURRENT VS 5Y AVG
-0.20%
CURRENT VS 10Y AVG
N/A
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
73.6%
Earnings Payout Ratio
69.0%
Dividend Yield
6.73%
FCF Yield
8.93%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $2.51B | $1.85B | 73.9% |
| 2024 | $2.37B | $1.75B | 73.8% |
| 2023 | $2.18B | $1.58B | 72.8% |
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 | 73.57% |
| 2025-12-31 | 73.85% |
| 2025-09-30 | 74.17% |
| 2025-06-30 | 73.47% |
| 2025-03-31 | 73.31% |
| 2024-12-31 | 73.84% |
| 2024-09-30 | 74.71% |
| 2024-06-30 | 73.38% |
| 2024-03-31 | 74.46% |
| 2023-12-31 | 72.75% |
| 2023-09-30 | 73.56% |
| 2023-06-30 | 73.49% |
| 2023-03-31 | 63.46% |
| 2022-12-31 | 62.79% |
| 2022-09-30 | 61.54% |
| 2022-06-30 | 62.75% |
| 2022-03-31 | 77.97% |
| 2021-12-31 | 84.89% |
| 2021-09-30 | 30.02% |
| 2021-06-30 | 70.77% |
| 2021-03-31 | 72.40% |
| 2020-12-31 | 69.28% |
| 2019-06-30 | 84.43% |
| 2019-03-31 | 76.49% |
| 2018-12-31 | 52.20% |
| 2018-09-30 | 34.19% |
| 2018-06-30 | 15.84% |
| 2022 |
| $1.94B |
| $1.22B |
| 62.8% |
| 2021 | $893.85M | $758.79M | 84.9% |
| 2020 | $880.87M | $612.21M | 69.5% |
| 2019 | $679.43M | $503.96M | 74.2% |
| 2018 | $503.18M | $262.68M | 52.2% |
| 2017 | $129.72M | $0 | 0.0% |
| 2016 | $1.85M | $0 | 0.0% |
| 2015 | $2.09M | $0 | 0.0% |
| 2014 | $3.06M | $0 | 0.0% |
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.
