VLO Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
VLO Payout Ratio by year
Yearly range of VLO’s payout ratio from 2016 to 2026. Over the full period it ranged from 10.7% to 500.1%, averaging 55.3%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 13.5% | 19.1% | 24.6% | 13.5% |
| 2025 | 27.2% | 33.2% | 41.1% | 27.2% |
| 2024 | 19.3% | 23.6% | 26.8% | 26.6% |
| 2023 | 10.7% | 13.9% | 17.2% | 17.2% |
| 2022 | 13.7% | 20.6% | 33.4% | 13.7% |
| 2021 | 38.1% | 128.9% | 261.5% | 38.1% |
| 2020 | 147.8% | 323.9% | 500.1% | 500.1% |
| 2019 | 44.1% | 57.1% | 77.1% | 77.1% |
| 2018 | 39.6% | 47.1% | 58.7% | 58.7% |
| 2017 | 28.7% | 31.6% | 34.0% | 29.8% |
| 2016 | 30.7% | 33.2% | 35.7% | 30.7% |
Get notified when VLO 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.