B Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
B Payout Ratio by year
Yearly range of B’s payout ratio from 2016 to 2026. Over the full period it ranged from 9.8% to 4,561.5%, averaging 193.5%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 26.8% | 27.2% | 27.6% | 27.6% |
| 2025 | 22.1% | 32.9% | 41.6% | 22.1% |
| 2024 | 53.2% | 81.7% | 119.1% | 53.2% |
| 2023 | 107.7% | 1,437.5% | 4,561.5% | 107.7% |
| 2022 | 74.9% | 131.4% | 261.2% | 261.2% |
| 2021 | 15.5% | 40.1% | 69.8% | 69.8% |
| 2020 | 16.0% | 19.7% | 24.6% | 16.0% |
| 2019 | 44.8% | 100.3% | 172.1% | 44.8% |
| 2018 | 32.1% | 51.8% | 92.2% | 92.2% |
| 2017 | 11.2% | 21.0% | 32.9% | 32.9% |
| 2016 | 9.8% | 9.8% | 9.8% | 9.8% |
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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.
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.