RIO Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
RIO Payout Ratio by year
Yearly range of RIO’s payout ratio from 2017 to 2026. Over the full period it ranged from 24.3% to 63.7%, averaging 43.8%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 60.1% | 60.1% | 60.1% | 60.1% |
| 2025 | 51.9% | 54.3% | 56.7% | 56.7% |
| 2024 | 49.1% | 49.1% | 49.2% | 49.2% |
| 2023 | 34.9% | 35.0% | 35.1% | 34.9% |
| 2022 | 41.2% | 45.8% | 50.4% | 41.2% |
| 2021 | 33.9% | 43.6% | 53.3% | 53.3% |
| 2020 | 31.3% | 37.3% | 43.4% | 31.3% |
| 2019 | 59.2% | 61.4% | 63.7% | 63.7% |
| 2018 | 32.2% | 32.7% | 33.2% | 33.2% |
| 2017 | 24.3% | 26.4% | 28.5% | 28.5% |
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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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