LLY Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
LLY Payout Ratio by year
Yearly range of LLY’s payout ratio from 2016 to 2026. Over the full period it ranged from 28.8% to 919.4%, averaging 93.2%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 28.8% | 34.9% | 41.1% | 28.8% |
| 2025 | 57.8% | 58.9% | 60.1% | 60.1% |
| 2024 | 919.4% | 919.4% | 919.4% | 919.4% |
| 2023 | 102.1% | 113.4% | 124.7% | 124.7% |
| 2022 | 57.6% | 67.4% | 81.0% | 81.0% |
| 2021 | 52.9% | 60.3% | 68.1% | 60.2% |
| 2020 | 53.5% | 60.0% | 69.2% | 63.2% |
| 2019 | 70.2% | 83.6% | 103.5% | 70.9% |
| 2018 | 51.7% | 77.4% | 92.8% | 92.8% |
| 2017 | 48.4% | 49.9% | 51.3% | 51.1% |
| 2016 | 58.1% | 74.5% | 90.9% | 58.1% |
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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.