TTE Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
TTE Payout Ratio by year
Yearly range of TTE’s payout ratio from 2017 to 2026. Over the full period it ranged from 19.6% to 274.0%, averaging 85.3%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 54.6% | 66.1% | 77.6% | 54.6% |
| 2025 | 45.4% | 61.1% | 79.9% | 79.9% |
| 2024 | 35.2% | 41.3% | 49.7% | 49.7% |
| 2023 | 32.8% | 46.3% | 74.3% | 32.8% |
| 2022 | 19.6% | 30.6% | 41.9% | 30.8% |
| 2021 | 45.9% | 71.8% | 102.2% | 45.9% |
| 2020 | 70.5% | 150.7% | 274.0% | 274.0% |
| 2019 | 44.9% | 54.7% | 64.1% | 44.9% |
| 2018 | 110.1% | 173.6% | 255.8% | 110.1% |
| 2017 | 90.8% | 147.4% | 246.8% | 90.8% |
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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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