NEE Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
NEE Payout Ratio by year
Yearly range of NEE’s payout ratio from 2016 to 2026. Over the full period it ranged from 58.6% to 10,997.1%, averaging 635.2%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 205.3% | 205.3% | 205.3% | 205.3% |
| 2025 | 98.7% | 128.5% | 148.5% | 147.4% |
| 2024 | 77.0% | 98.8% | 132.1% | 89.5% |
| 2023 | 219.1% | 219.1% | 219.1% | 219.1% |
| 2021 | 497.7% | 4,330.9% | 10,997.1% | 10,997.1% |
| 2020 | 124.4% | 247.1% | 480.1% | 480.1% |
| 2018 | 132.9% | 283.3% | 403.7% | 366.3% |
| 2017 | 116.0% | 141.7% | 192.5% | 192.5% |
| 2016 | 58.6% | 68.2% | 77.9% | 77.9% |
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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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