WDS Payout Ratio: current value, 10-year range and year-by-year history
Cash & Leverage
Payout Ratio History
WDS Payout Ratio by year
Yearly range of WDS’s payout ratio from 2017 to 2024. Over the full period it ranged from 22.6% to 357.8%, averaging 67.0%.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2024 | 52.8% | 205.3% | 357.8% | 357.8% |
| 2023 | 63.9% | 66.5% | 69.2% | 63.9% |
| 2022 | 58.6% | 63.2% | 67.8% | 58.6% |
| 2021 | 22.6% | 30.5% | 38.3% | 38.3% |
| 2020 | 24.4% | 31.6% | 38.8% | 38.8% |
| 2019 | 32.4% | 39.0% | 45.6% | 32.4% |
| 2018 | 45.3% | 51.6% | 58.0% | 45.3% |
| 2017 | 47.4% | 48.1% | 48.9% | 48.9% |
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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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