RJF Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
RJF Payout Ratio by year
Yearly range of RJF’s payout ratio from 2017 to 2026. Over the full period it ranged from 2.9% to 43.9%, averaging 17.2%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 17.0% | 17.5% | 18.1% | 18.1% |
| 2025 | 14.8% | 20.4% | 28.8% | 28.8% |
| 2024 | 12.6% | 20.1% | 38.0% | 12.6% |
| 2022 | 3.1% | 3.5% | 3.9% | 3.1% |
| 2021 | 3.4% | 7.9% | 12.4% | 9.3% |
| 2020 | 2.9% | 5.1% | 6.3% | 2.9% |
| 2019 | 28.1% | 36.9% | 43.9% | 32.6% |
| 2018 | 16.4% | 19.2% | 21.4% | 19.8% |
| 2017 | 12.6% | 18.3% | 28.4% | 14.3% |
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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.