TSM Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
TSM Payout Ratio by year
Yearly range of TSM’s payout ratio from 2016 to 2026. Over the full period it ranged from 1.0% to 11.5%, averaging 2.5%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 1.5% | 1.5% | 1.5% | 1.5% |
| 2025 | 1.1% | 1.3% | 1.4% | 1.4% |
| 2024 | 1.0% | 1.2% | 1.5% | 1.1% |
| 2023 | 1.5% | 2.4% | 3.4% | 2.2% |
| 2022 | 1.4% | 1.6% | 2.0% | 1.4% |
| 2021 | 2.5% | 2.7% | 2.9% | 2.9% |
| 2020 | 2.3% | 5.8% | 11.5% | 2.3% |
| 2019 | 2.2% | 3.5% | 5.5% | 5.5% |
| 2018 | 1.5% | 1.8% | 2.1% | 2.1% |
| 2017 | 1.9% | 2.6% | 3.2% | 1.9% |
| 2016 | 2.4% | 2.4% | 2.5% | 2.4% |
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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.
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.