AA Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
AA Payout Ratio by year
Yearly range of AA’s payout ratio from 2017 to 2026. Over the full period it ranged from 2.8% to 246.1%, averaging 34.5%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 30.0% | 33.5% | 37.0% | 30.0% |
| 2025 | 15.9% | 20.5% | 29.8% | 18.6% |
| 2024 | 246.1% | 246.1% | 246.1% | 246.1% |
| 2023 | 52.4% | 52.4% | 52.4% | 52.4% |
| 2022 | 4.8% | 10.3% | 20.7% | 20.7% |
| 2021 | 3.5% | 3.5% | 3.5% | 3.5% |
| 2017 | 2.8% | 12.7% | 22.5% | 2.8% |
Get notified when AA Payout Ratio crosses a threshold
Free — one alert setup, notifications by push, Telegram, or Discord.
What fraction of free cash flow is paid out as dividends. More reliable than the earnings-based payout ratio because cash is harder to manipulate through accounting choices. Low ratio = room to grow the dividend and absorb an earnings dip. High ratio = dividend is consuming most of the cash generated.
TTM Dividends Per Share / (TTM FCF ÷ Shares) × 100%A steadily rising FCF payout ratio warrants scrutiny only if FCF itself is flat or falling — that means the company is paying out a larger slice of shrinking cash. A high but stable ratio in a capital-light business (e.g. consumer staples) can be perfectly sustainable.
- FCF can be lumpy: large one-off capex or working-capital swings distort a single year. Look at the multi-year trend rather than any single data point.
- Utilities and REITs naturally sustain 60–90% FCF payout ratios; industrials and tech companies typically run 20–50%. Always compare to sector context.
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.