NEM Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
NEM Payout Ratio by year
Yearly range of NEM’s payout ratio from 2016 to 2026. Over the full period it ranged from 4.0% to 2,458.6%, averaging 167.0%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 8.5% | 8.7% | 8.9% | 8.5% |
| 2025 | 10.7% | 19.0% | 26.6% | 10.7% |
| 2024 | 38.8% | 714.5% | 2,458.6% | 38.8% |
| 2023 | 182.1% | 622.8% | 1,614.8% | 1,614.8% |
| 2022 | 71.6% | 104.0% | 160.6% | 160.6% |
| 2021 | 34.1% | 48.4% | 66.8% | 66.8% |
| 2020 | 20.5% | 34.8% | 70.0% | 23.4% |
| 2019 | 27.0% | 85.8% | 124.7% | 84.0% |
| 2018 | 13.9% | 26.7% | 37.7% | 37.7% |
| 2017 | 4.9% | 7.3% | 9.1% | 9.1% |
| 2016 | 4.0% | 4.4% | 4.7% | 4.0% |
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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.