DHR Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
DHR Payout Ratio by year
Yearly range of DHR’s payout ratio from 2016 to 2026. Over the full period it ranged from 7.4% to 731.0%, averaging 73.7%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 22.6% | 22.7% | 22.8% | 22.8% |
| 2025 | 16.6% | 19.2% | 21.4% | 17.3% |
| 2024 | 15.0% | 17.5% | 19.2% | 15.0% |
| 2023 | 7.7% | 9.8% | 12.8% | 12.8% |
| 2022 | 8.0% | 8.6% | 9.0% | 9.0% |
| 2021 | 7.4% | 7.6% | 7.8% | 7.8% |
| 2020 | 8.5% | 10.8% | 12.6% | 8.5% |
| 2019 | 12.4% | 12.6% | 13.2% | 13.2% |
| 2018 | 11.6% | 12.1% | 13.0% | 11.7% |
| 2017 | 12.3% | 353.4% | 731.0% | 12.3% |
| 2016 | 497.5% | 547.9% | 598.4% | 598.4% |
Get notified when DHR 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.