ASML Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
ASML Payout Ratio by year
Yearly range of ASML’s payout ratio from 2016 to 2026. Over the full period it ranged from 15.2% to 731.0%, averaging 61.0%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 16.5% | 27.7% | 33.8% | 16.5% |
| 2025 | 23.6% | 168.3% | 731.0% | 23.6% |
| 2024 | 29.1% | 79.8% | 108.7% | 29.1% |
| 2023 | 40.6% | 51.9% | 78.5% | 78.5% |
| 2022 | 15.2% | 28.5% | 38.3% | 38.3% |
| 2021 | 15.8% | 23.4% | 39.4% | 15.8% |
| 2020 | 36.0% | 48.1% | 66.8% | 36.0% |
| 2019 | 40.8% | 82.4% | 142.7% | 61.1% |
| 2018 | 28.4% | 33.9% | 39.2% | 28.4% |
| 2017 | 31.4% | 36.8% | 39.3% | 37.6% |
| 2016 | 34.9% | 34.9% | 34.9% | 34.9% |
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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.
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.