TPR Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
TPR Payout Ratio by year
Yearly range of TPR’s payout ratio from 2016 to 2026. Over the full period it ranged from 6.3% to 138.7%, averaging 49.1%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 18.4% | 18.5% | 18.6% | 18.6% |
| 2025 | 18.7% | 26.9% | 33.6% | 18.7% |
| 2024 | 24.3% | 29.4% | 36.7% | 36.7% |
| 2023 | 23.3% | 32.4% | 42.9% | 23.3% |
| 2022 | 12.5% | 33.1% | 51.8% | 51.8% |
| 2021 | 6.3% | 6.3% | 6.3% | 6.3% |
| 2020 | 20.7% | 79.0% | 138.7% | 20.7% |
| 2019 | 52.5% | 70.1% | 78.7% | 78.7% |
| 2018 | 43.3% | 51.9% | 61.5% | 43.3% |
| 2017 | 57.5% | 70.1% | 82.6% | 57.5% |
| 2016 | 90.4% | 108.1% | 125.9% | 90.4% |
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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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