LKQ CORP (LKQ) — payout ratio, three ways
Fiscal year ending 2025-12-31 · sector Industrials · payout ratios computed from SEC filings, not taken from a data vendor.
| Basis | Payout | Why it differs |
|---|---|---|
| GAAP earnings | 51.2% | The figure most screeners publish. |
| Operating cash flow | 29.2% | Before capital spending, so it understates the payout that free cash flow shows. |
| Free cash flow | 36.6% | What is left after maintaining the business. |
Spread between highest and lowest: 22 percentage points. Same filings, different denominators.
Coverage rating 32 / 100 — Strained. ? Peer standing 17/50Direction 10/30Stability 4/20
Free cash flow payout, last 5 years
| Fiscal year | Payout |
|---|---|
| 2025-12-31 | 36.6% |
| 2024-12-31 | 39.3% |
| 2023-12-31 | 30.3% |
| 2022-12-31 | 27.6% |
| 2021-12-31 | 6.8% |
Among the 73 industrials companies here, 34% pay out a larger share on this basis.
The arithmetic
- GAAP earnings — dividends declared per share $1.20 ÷ diluted EPS $2.35
- Operating cash flow — dividends paid $310.0m ÷ operating cash flow $1,063.0m
- Free cash flow — dividends paid $310.0m ÷ (operating cash flow $1,063.0m − capex $216.0m)
Where the figures came from
- 10-K filed 2026-02-19 · accession
0001065696-26-000012
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
- DPS derived from dividends paid ($1.20); no per-share tag filed
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.