E Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
E Payout Ratio by year
Yearly range of E’s payout ratio from 2017 to 2026. Over the full period it ranged from 20.3% to 1,806.7%, averaging 151.6%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 96.3% | 107.9% | 119.6% | 96.3% |
| 2025 | 63.3% | 76.0% | 81.6% | 77.8% |
| 2024 | 56.7% | 64.1% | 70.9% | 70.9% |
| 2023 | 38.3% | 47.4% | 54.6% | 54.6% |
| 2022 | 20.3% | 31.3% | 37.0% | 32.6% |
| 2021 | 42.3% | 103.6% | 195.9% | 42.3% |
| 2020 | 95.1% | 253.5% | 590.7% | 590.7% |
| 2019 | 59.7% | 76.8% | 84.9% | 84.9% |
| 2018 | 83.3% | 127.1% | 180.0% | 83.3% |
| 2017 | 229.5% | 757.5% | 1,806.7% | 229.5% |
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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.