MPLX Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
MPLX Payout Ratio by year
Yearly range of MPLX’s payout ratio from 2016 to 2026. Over the full period it ranged from 65.8% to 881.3%, averaging 158.3%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 82.9% | 89.4% | 95.9% | 95.9% |
| 2025 | 67.5% | 74.5% | 77.2% | 77.2% |
| 2024 | 73.1% | 73.4% | 73.8% | 73.1% |
| 2023 | 68.7% | 71.2% | 73.5% | 71.4% |
| 2022 | 68.8% | 76.5% | 81.7% | 68.8% |
| 2021 | 65.8% | 72.0% | 77.7% | 77.7% |
| 2020 | 85.7% | 126.6% | 173.4% | 85.7% |
| 2019 | 187.5% | 217.2% | 246.8% | 239.2% |
| 2018 | 218.0% | 275.4% | 385.4% | 218.0% |
| 2017 | 181.3% | 291.4% | 429.9% | 181.3% |
| 2016 | 881.3% | 881.3% | 881.3% | 881.3% |
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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.