FCF Payout Ratio: 61.80%
Is the FCF payout ratio high or low?
The FCF payout ratio of 61.80% is 12% above its 5-year average of 54.96%, near the high end of its 5-year range (42.38%–68.27%).
4.65% below its 12-month average of 64.82%.
CNI FCF Payout Ratio
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
CNI Average FCF Payout Ratio Chart
CNI Current vs Average FCF Payout Ratio Chart
CNI FCF Payout Ratio Metrics
FCF PAYOUT RATIO
61.80%
FCF PAYOUT RATIO AVG TTM
64.82%
FCF PAYOUT RATIO AVG 3Y
59.18%
FCF PAYOUT RATIO AVG 5Y
54.96%
FCF PAYOUT RATIO AVG 10Y
54.28%
FCF PAYOUT RATIO AVG 15Y
51.25%
FCF PAYOUT RATIO AVG 20Y
48.50%
CURRENT VS TTM AVG
-4.65%
CURRENT VS 3Y AVG
+4.43%
CURRENT VS 5Y AVG
+12.46%
CURRENT VS 10Y AVG
+13.85%
CURRENT VS 15Y AVG
+20.59%
CURRENT VS 20Y AVG
+27.42%
Payout Ratio Comparison
FCF Payout Ratio TTM
61.8%
Earnings Payout Ratio
47.6%
Dividend Yield
2.17%
FCF Yield
3.51%
Annual FCF Payout Ratio History
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $2.47B | $1.61B | 65.1% |
| 2024 | $2.19B | $1.49B | 67.9% |
| 2023 | $2.85B | $1.56B | 54.8% |
| 2022 | $2.89B | $1.48B | 51.2% |
| 2021 | $3.23B | $1.38B | 42.6% |
| 2020 | $2.59B | $1.28B | 49.5% |
| 2019 | $1.58B | $1.19B | 75.0% |
| 2018 | $1.75B | $976.82M | 55.8% |
| 2017 | $2.26B | $984.39M | 43.6% |
| 2016 | $1.86B | $861.37M | 46.2% |
| 2015 | $1.76B | $719.31M | 40.9% |
| 2014 | $1.79B | $703.40M | 39.3% |
| 2013 | $1.48B | $680.99M | 46.0% |
| 2012 | $1.34B | $656.82M | 49.1% |
| 2011 | $1.32B | $572.72M | 43.3% |
| 2010 | $1.41B | $503.70M | 35.6% |
| 2009 | $832.10M | $449.73M | 54.0% |
| 2008 | $496.22M | $356.43M | 71.8% |
| 2007 | $1.03B | $418.33M | 40.6% |
| 2006 | $1.42B | $291.52M | 20.6% |
| 2005 | $1.31B | $236.50M | 18.1% |
| 2004 | $887.53M | $184.66M | 20.8% |
| 2003 | $719.24M | $147.24M | 20.5% |
| 2002 | $428.60M | $108.10M | 25.2% |
| 2001 | $353.79M | $94.26M | 26.6% |
| 2000 | $365.63M | $90.74M | 24.8% |
| 1999 | $236.98M | $81.50M | 34.4% |
| 1998 | $319.59M | $64.22M | 20.1% |
| 1997 | $204.37M | $54.65M | 26.7% |
| 1996 | $229.91M | $49.60M | 21.6% |
Formula: FCF Payout Ratio TTM = trailing 4Q dividends paid / trailing 4Q free cash flow × 100
FCF payout and earnings payout:
- FCF represents operating cash flow after capital expenditures
- FCF payout compares dividends paid with free cash flow
- FCF payout above 100% means dividends paid exceeded free cash flow for the period
- Earnings payout compares dividends paid with net income
Reading the series: Use the chart and table to compare dividend payments with cash generation over time.
FCF Payout Ratio Formula & Definition
FCF Payout Ratio measures trailing dividends paid as a percentage of trailing free cash flow. Unlike earnings-based payout, it compares dividends with cash generated after capital expenditures.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
FCF Payout Ratio FAQ
- What is the FCF payout ratio for Canadian National Railway Company (CNI)?
- The FCF payout ratio for CNI stock is 61.80%.
- Is Canadian National Railway Company's FCF payout ratio high or low?
- The FCF payout ratio of 61.80% is 12% above its 5-year average of 54.96%, near the high end of its 5-year range (42.38%–68.27%).
- What is the TTM average FCF payout ratio for Canadian National Railway Company (CNI)?
- The TTM average FCF payout ratio for CNI stock is 64.82%.
- What is the 3Y average FCF payout ratio for Canadian National Railway Company (CNI)?
- The 3Y average FCF payout ratio for CNI stock is 59.18%.
- What is the 5Y average FCF payout ratio for Canadian National Railway Company (CNI)?
- The 5Y average FCF payout ratio for CNI stock is 54.96%.
- What is the 10Y average FCF payout ratio for Canadian National Railway Company (CNI)?
- The 10Y average FCF payout ratio for CNI stock is 54.28%.
- What is the 15Y average FCF payout ratio for Canadian National Railway Company (CNI)?
- The 15Y average FCF payout ratio for CNI stock is 51.25%.
- What is the 20Y average FCF payout ratio for Canadian National Railway Company (CNI)?
- The 20Y average FCF payout ratio for CNI stock is 48.50%.
CNI FCF Payout Ratio History
| DATE | FCF PAYOUT RATIO |
|---|---|
| 2026-03-31 | 61.80% |
| 2025-12-31 | 64.90% |
| 2025-09-30 | 63.67% |
| 2025-06-30 | 67.40% |
| 2025-03-31 | 66.33% |
| 2024-12-31 | 68.27% |
| 2024-09-30 | 58.94% |
| 2024-06-30 | 58.50% |
| 2024-03-31 | 55.73% |
| 2023-12-31 | 54.59% |
| 2023-09-30 | 56.22% |
| 2023-06-30 | 46.15% |
| 2023-03-31 | 46.90% |
| 2022-12-31 | 49.84% |
| 2022-09-30 | 50.34% |
| 2022-06-30 | 45.10% |
| 2022-03-31 | 46.50% |
| 2021-12-31 | 42.76% |
| 2021-09-30 | 42.38% |
| 2021-06-30 | 56.82% |
| 2021-03-31 | 50.99% |
| 2020-12-31 | 49.12% |
| 2020-09-30 | 60.82% |
| 2020-06-30 | 55.63% |
| 2020-03-31 | 66.81% |
| 2019-12-31 | 74.96% |
| 2019-09-30 | 67.58% |
| 2019-06-30 | 70.50% |
| 2019-03-31 | 58.90% |
| 2018-12-31 | 56.03% |
| 2018-09-30 | 59.53% |
| 2018-06-30 | 55.37% |
| 2018-03-31 | 54.56% |
| 2017-12-31 | 43.76% |
| 2017-09-30 | 39.59% |
| 2017-06-30 | 39.94% |
| 2017-03-31 | 42.61% |
| 2016-12-31 | 46.29% |
| 2016-09-30 | 45.84% |
| 2016-06-30 | 42.19% |
| 2016-03-31 | 41.53% |
| 2015-12-31 | 41.10% |
| 2015-09-30 | 49.05% |
| 2015-06-30 | 45.95% |
| 2015-03-31 | 38.37% |
| 2014-12-31 | 38.82% |
| 2014-09-30 | 36.06% |
| 2014-06-30 | 37.96% |
| 2014-03-31 | 39.57% |
| 2013-12-31 | 46.17% |
| 2013-09-30 | 51.83% |
| 2013-06-30 | 51.81% |
| 2013-03-31 | 44.22% |
| 2012-12-31 | 49.54% |
| 2012-09-30 | 53.49% |
| 2012-06-30 | 49.06% |
| 2012-03-31 | 61.82% |
| 2011-12-31 | 43.28% |
| 2011-09-30 | 34.15% |
| 2011-06-30 | 45.35% |
| 2011-03-31 | 43.15% |
| 2010-12-31 | 35.77% |
| 2010-09-30 | 40.29% |
| 2010-06-30 | 33.95% |
| 2010-03-31 | 39.86% |
| 2009-12-31 | 53.83% |
| 2009-09-30 | 57.52% |
| 2009-06-30 | 42.39% |
| 2009-03-31 | 56.89% |
| 2008-12-31 | 70.97% |
| 2008-09-30 | 39.88% |
| 2008-06-30 | 67.97% |
| 2008-03-31 | 44.12% |
| 2007-12-31 | 39.79% |
| 2007-09-30 | 35.98% |
| 2007-06-30 | 24.95% |
| 2007-03-31 | 28.89% |
| 2006-12-31 | 20.71% |
| 2006-09-30 | 24.06% |
| 2006-06-30 | 25.65% |
| 2006-03-31 | 18.81% |
| 2005-12-31 | 18.17% |
| 2005-09-30 | 17.06% |
| 2005-06-30 | 17.24% |
| 2005-03-31 | 18.09% |
| 2004-12-31 | 20.75% |
| 2004-09-30 | 21.52% |
| 2004-06-30 | 20.92% |
| 2004-03-31 | 22.48% |
| 2003-12-31 | 20.45% |
| 2003-10-20 | 21.23% |
| 2003-06-30 | 23.13% |
| 2003-03-31 | 23.32% |
About Canadian National Railway Company
Canadian National Railway Company (CNI), together with its subsidiary operations, functions as a key player in the railway and related logistics industry. The firm handles a wide array of freight, including petroleum products and chemicals, agricultural commodities such as grain and fertilizers, various minerals like coal and metals, timber and paper goods, intermodal containers, and finished automobiles. Its services cater to a broad base of clients, from international exporters and importers to retail chains, agricultural growers, and industrial manufacturers. CNI boasts a substantial rail infrastructure, with approximately 19,500 miles of track extending across both Canada and the United States. Additionally, the company provides diverse ancillary services, encompassing marine terminal management (vessels and docks), cargo transshipment and distribution, specialized automotive supply chain solutions, and comprehensive freight management and forwarding. Founded in 1919, Canadian National Railway Company is based in Montreal, Canada.
- Sector
- Industrials
- Industry
- Railroads
- CEO
- Tracy A. Robinson