MDLZ Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
MDLZ Payout Ratio by year
Yearly range of MDLZ’s payout ratio from 2016 to 2026. Over the full period it ranged from 45.9% to 108.1%, averaging 64.1%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 83.8% | 91.1% | 98.4% | 83.8% |
| 2025 | 72.3% | 85.8% | 108.1% | 77.5% |
| 2024 | 60.4% | 63.8% | 68.1% | 68.1% |
| 2023 | 61.3% | 66.7% | 72.9% | 61.3% |
| 2022 | 55.5% | 61.6% | 67.3% | 67.3% |
| 2021 | 46.9% | 52.7% | 58.8% | 58.8% |
| 2020 | 45.9% | 51.2% | 55.7% | 55.7% |
| 2019 | 49.9% | 52.2% | 54.5% | 52.1% |
| 2018 | 49.5% | 51.4% | 53.3% | 49.5% |
| 2017 | 70.7% | 76.5% | 82.4% | 78.6% |
| 2016 | 69.5% | 69.5% | 69.5% | 69.5% |
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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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