SNY Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
SNY Payout Ratio by year
Yearly range of SNY’s payout ratio from 2019 to 2026. Over the full period it ranged from 49.2% to 316.3%, averaging 93.2%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 49.2% | 58.2% | 67.2% | 49.2% |
| 2025 | 64.8% | 180.2% | 316.3% | 64.8% |
| 2024 | 67.9% | 105.9% | 125.0% | 125.0% |
| 2023 | 60.1% | 62.5% | 68.1% | 68.1% |
| 2022 | 56.6% | 63.8% | 68.5% | 61.7% |
| 2021 | 56.9% | 77.0% | 83.9% | 56.9% |
| 2020 | 64.3% | 83.5% | 121.2% | 84.2% |
| 2019 | 121.4% | 121.4% | 121.4% | 121.4% |
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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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