Technology dividend payout ratios

46 companies, computed from their own SEC filings. 15 of them answer differently by 20 points or more depending on which basis you divide by.

What ordinary looks like here

On the basis each company’s own filings make applicable, the median technology company pays out 28.6%. Half sit between 17.1% and 47.8%. Across all 532 companies here the median is 41.9% — 13.3 points less than the site as a whole.

Which basis applies, and to how many

Not a choice — it is what each company’s filings support.

free cash flow 42
operating cash flow 1

Where the bases disagree most

The same dividend, a different answer. These are the widest gaps in technology.

STMicroelectronics N.V. (STM) 185.1 pts
Power Integrations (POWI) 172.4 pts
Gilat Satellite Networks (GILT) 165.9 pts
Texas Instruments (TXN) 122.2 pts
CCC Intelligent Solutions Holdings (CCC) 91.0 pts

Lowest payout

Nvidia 1.0%
Esco Technologies 4.0%
CTS 5.5%
Meta Platforms 11.5%
Science Applications International 12.1%

Highest payout

Gilat Satellite Networks 351.1%
CCC Intelligent Solutions Holdings 302.4%
Texas Instruments 192.0%
Hewlett Packard Enterprise 109.1%
Kulicke & Soffa Industries 56.1%

Common questions

What is a good dividend payout ratio for a technology company?

Measured on the basis its own filings support, the median here is 28.6%, with half between 17.1% and 47.8%. That is the empirical answer for this sector rather than a rule of thumb, and it is the only comparison that means anything — a figure that is ordinary in one sector is stretched in another.

Which measure should a technology company be judged on?

42 of the 43 measured here are read on free cash flow, because that is what their filings support. Each company’s page shows every basis it can be measured on and marks the one that applies.

Where do these numbers come from?

Each company’s own annual filing, read out of SEC XBRL. Every page names the accession number its figures came from and links it to EDGAR, so any figure here can be checked against the source.

All 46 companies

What a dividend payout ratio measures, and why one threshold does not fit every sector.

Ticker	Company	Basis	Yield	Spread	Rating
STM	STMicroelectronics N.V.	OCF	—	185.1	22
POWI	Power Integrations	FCF	—	172.4	17
GILT	Gilat Satellite Networks	FCF	—	165.9	0
TXN	Texas Instruments	FCF	—	122.2	2
CCC	CCC Intelligent Solutions Holdings	FCF	—	91.0	26
HPE	Hewlett Packard Enterprise	FCF	—	85.7	4
AUDC	Audiocodes	FCF	—	84.4	42
BHE	Benchmark Electronics	FCF	—	79.2	42
SWKS	Skyworks Solutions	FCF	—	58.0	42
ADI	Analog Devices	FCF	—	45.3	57
QCOM	Qualcomm	FCF	—	42.3	57
MSFT	Microsoft	FCF	—	25.0	38
PBI	Pitney Bowes	FCF	—	22.4	79
ATEN	A10 Networks	FCF	—	21.6	44
OLED	Universal Display Corp \Pa\	FCF	—	20.0	10
CSCO	Cisco Systems	FCF	—	18.2	35
ACN	Accenture	FCF	—	16.5	48
ORCL	Oracle	—	—	16.2	26
NSSC	Napco Security Technologies	FCF	—	15.1	36
DOX	Amdocs	FCF	—	14.8	46
MTCH	Match Group	FCF	—	14.7	71
HPQ	HP	FCF	—	14.3	34
NTAP	NetApp	FCF	—	12.8	72
IBM	International Business Machines	FCF	—	12.7	34
ADP	Automatic Data Processing	FCF	—	12.4	54
INTU	Intuit	FCF	—	11.3	72
DELL	Dell Technologies	FCF	—	11.1	68
MSI	Motorola Solutions	FCF	—	9.5	70
AVGO	Broadcom	FCF	—	9.0	59
KLIC	Kulicke & Soffa Industries	FCF	—	8.5	9
SAIC	Science Applications International	FCF	—	7.7	83
GOOGL	Alphabet	FCF	—	7.6	52
APH	Amphenol	FCF	—	7.4	77
AMAT	Applied Materials	FCF	—	6.9	52
META	Meta Platforms	FCF	—	6.9	65
VRSN	Verisign	FCF	—	6.5	63
CTSH	Cognizant Technology Solutions	FCF	—	6.0	62
XRX	Xerox Holdings	FCF	—	5.0	39
CTS	CTS	FCF	—	2.7	80
LDOS	Leidos Holdings	FCF	—	2.6	83
AAPL	Apple	FCF	—	1.9	77
ESE	Esco Technologies	FCF	—	1.2	76
UI	Ubiquiti	FCF	—	1.1	58
NVDA	Nvidia	FCF	—	0.2	74
CMTL	Comtech Telecommunications	—	—	—	62
VSH	Vishay Intertechnology	—	—	—	4