GLW Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
GLW Payout Ratio by year
Yearly range of GLW’s payout ratio from 2016 to 2026. Over the full period it ranged from 33.4% to 1,610.9%, averaging 180.0%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 39.6% | 48.3% | 64.4% | 39.6% |
| 2025 | 68.2% | 80.7% | 90.4% | 68.2% |
| 2024 | 92.1% | 100.5% | 108.5% | 98.2% |
| 2023 | 155.0% | 246.3% | 370.5% | 155.0% |
| 2022 | 57.0% | 70.6% | 90.1% | 90.1% |
| 2021 | 45.2% | 47.7% | 52.7% | 46.7% |
| 2020 | 65.1% | 110.7% | 207.7% | 98.0% |
| 2019 | 170.5% | 890.7% | 1,610.9% | 1,610.9% |
| 2018 | 104.8% | 458.4% | 1,439.4% | 108.1% |
| 2017 | 33.4% | 103.3% | 267.5% | 267.5% |
| 2016 | 41.4% | 41.4% | 41.4% | 41.4% |
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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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