SHEL Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
SHEL Payout Ratio by year
Yearly range of SHEL’s payout ratio from 2017 to 2026. Over the full period it ranged from 15.4% to 184.8%, averaging 49.1%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 26.4% | 33.2% | 40.0% | 26.4% |
| 2025 | 28.3% | 31.1% | 34.8% | 34.8% |
| 2024 | 24.4% | 25.9% | 27.9% | 24.4% |
| 2023 | 16.8% | 19.9% | 26.3% | 26.3% |
| 2022 | 15.4% | 19.9% | 22.7% | 15.4% |
| 2021 | 23.0% | 29.4% | 45.1% | 24.3% |
| 2020 | 42.5% | 52.6% | 62.6% | 42.5% |
| 2019 | 49.7% | 57.8% | 77.9% | 77.9% |
| 2018 | 51.9% | 95.0% | 122.6% | 51.9% |
| 2017 | 89.1% | 118.2% | 184.8% | 106.1% |
Get notified when SHEL 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.