PAYX Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
PAYX Payout Ratio by year
Yearly range of PAYX’s payout ratio from 2016 to 2026. Over the full period it ranged from 65.1% to 88.8%, averaging 73.9%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 68.3% | 70.4% | 72.4% | 68.3% |
| 2025 | 74.1% | 80.6% | 88.6% | 74.1% |
| 2024 | 68.6% | 80.3% | 88.8% | 88.8% |
| 2023 | 65.1% | 70.7% | 74.8% | 68.7% |
| 2022 | 67.0% | 72.4% | 77.8% | 71.5% |
| 2021 | 71.1% | 76.2% | 79.8% | 74.9% |
| 2020 | 68.1% | 72.8% | 75.7% | 75.7% |
| 2019 | 68.0% | 70.6% | 72.0% | 70.7% |
| 2018 | 66.3% | 69.5% | 73.3% | 69.4% |
| 2017 | 72.2% | 74.6% | 76.9% | 75.1% |
| 2016 | 69.7% | 69.7% | 69.7% | 69.7% |
Get notified when PAYX 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.