CNH Industrial N.V. (CNH) — payout ratio, two ways
Fiscal year ending 2025-12-31 · sector Industrials · payout ratios computed from SEC filings, not taken from a data vendor.
Free cash flow is not shown for this company. It cannot be computed from what this company files — the inputs are absent from its XBRL, not zero. The figure marked in the table is operating cash flow instead.
| Basis | Payout | Why it differs |
|---|---|---|
| GAAP earnings | 61.0% | The figure most screeners publish. |
| Operating cash flow | 13.1% | Before capital spending, so it understates the payout that free cash flow shows. |
No free cash flow figure is shown. This company does not report the inputs for it in its XBRL filings — capital expenditure, in particular, is often folded into a single investing total rather than tagged on its own. The figure is absent from the filings, not zero, and inventing one from a balance-sheet movement would be a guess dressed as a measurement.
Spread between highest and lowest: 48 percentage points. Same filings, different denominators.
Coverage rating 60 / 100 — Adequate. ? Peer standing · not rankedDirection 30/30Stability 0/20
Operating cash flow payout, last 6 years
| Fiscal year | Payout |
|---|---|
| 2025-12-31 | 13.1% |
| 2024-12-31 | 30.8% |
| 2023-12-31 | 59.3% |
| 2022-12-31 | 75.9% |
| 2021-12-31 | 4.6% |
| 2020-12-31 | 0.1% |
Coverage has improved three years running, 75.9% to 13.1%.
The arithmetic
- GAAP earnings — dividends declared per share $0.25 ÷ diluted EPS $0.41
- Operating cash flow — dividends paid $333.0m ÷ operating cash flow $2,538.0m
Where the figures came from
- 10-K filed 2026-02-26 · accession
0001567094-26-000006
Every one is public at sec.gov and free to check. That is the point — you should not have to take my word for any of it.
Caveats on this company
- ebitda built from net income (no operating income reported)
Computed by an open pipeline reading SEC XBRL directly. If any number here looks wrong to you, tell me — that is more useful to me than agreement.