EQNR Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
EQNR Payout Ratio by year
Yearly range of EQNR’s payout ratio from 2017 to 2026. Over the full period it ranged from 6.7% to 271.1%, averaging 85.0%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 38.2% | 108.2% | 178.2% | 38.2% |
| 2025 | 76.0% | 86.3% | 104.1% | 76.0% |
| 2024 | 97.7% | 115.1% | 135.0% | 101.4% |
| 2023 | 29.1% | 54.5% | 76.8% | 76.8% |
| 2022 | 6.7% | 11.8% | 19.7% | 19.7% |
| 2021 | 8.8% | 23.3% | 59.8% | 8.8% |
| 2020 | 109.8% | 168.8% | 250.3% | 121.1% |
| 2019 | 48.9% | 64.2% | 94.6% | 94.6% |
| 2018 | 53.3% | 104.9% | 189.4% | 53.3% |
| 2017 | 64.5% | 124.6% | 271.1% | 81.5% |
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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.
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