AMAT Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
AMAT Payout Ratio by year
Yearly range of AMAT’s payout ratio from 2016 to 2026. Over the full period it ranged from 10.9% to 27.2%, averaging 19.3%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 23.0% | 24.0% | 24.6% | 24.5% |
| 2025 | 21.0% | 22.6% | 24.1% | 24.1% |
| 2024 | 13.2% | 15.5% | 17.3% | 15.9% |
| 2023 | 12.9% | 15.6% | 21.2% | 12.9% |
| 2022 | 14.1% | 16.6% | 18.6% | 18.6% |
| 2021 | 16.6% | 18.6% | 21.2% | 17.5% |
| 2020 | 23.4% | 25.7% | 27.0% | 23.4% |
| 2019 | 25.4% | 26.4% | 27.2% | 27.2% |
| 2018 | 10.9% | 14.7% | 18.7% | 18.7% |
| 2017 | 12.7% | 14.2% | 16.4% | 13.2% |
| 2016 | 19.8% | 19.8% | 19.8% | 19.8% |
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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.
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