MO Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
MO Payout Ratio by year
Yearly range of MO’s payout ratio from 2016 to 2026. Over the full period it ranged from 61.7% to 130.0%, averaging 84.6%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 81.5% | 83.4% | 85.4% | 85.4% |
| 2025 | 75.5% | 78.0% | 80.8% | 76.9% |
| 2024 | 75.8% | 77.5% | 79.4% | 78.7% |
| 2023 | 74.7% | 79.0% | 83.6% | 74.7% |
| 2022 | 78.4% | 80.4% | 81.8% | 81.8% |
| 2021 | 78.3% | 85.7% | 107.1% | 78.3% |
| 2020 | 61.7% | 72.4% | 77.5% | 77.5% |
| 2019 | 76.1% | 83.7% | 89.5% | 80.6% |
| 2018 | 69.1% | 81.1% | 102.6% | 69.1% |
| 2017 | 101.9% | 112.4% | 130.0% | 101.9% |
| 2016 | 89.5% | 108.0% | 126.5% | 126.5% |
Get notified when MO Payout Ratio crosses a threshold
Free — one alert setup, notifications by push, Telegram, or Discord.
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.