TYSON FOODS, INC. (TSN) — payout ratio, three ways
Fiscal year ending 2025-09-27 · sector Consumer staples · payout ratios computed from SEC filings, not taken from a data vendor.
| Basis | Payout | Why it differs |
|---|---|---|
| GAAP earnings | 146.8% | The figure most screeners publish. |
| Operating cash flow | 32.3% | Before capital spending, so it understates the payout that free cash flow shows. |
| Free cash flow | 59.2% | What is left after maintaining the business. |
Spread between highest and lowest: 114 percentage points. Same filings, different denominators.
Coverage rating 34 / 100 — Strained. ? Peer standing 28/50Direction 4/30Stability 3/20
Free cash flow payout, last 6 years
| Fiscal year | Payout |
|---|---|
| 2025-09-27 | 59.2% |
| 2024-09-28 | 46.9% |
| 2022-10-01 | 81.6% |
| 2021-10-02 | 24.2% |
| 2020-10-03 | 22.5% |
| 2019-09-28 | 42.8% |
Coverage worsened sharply this year, 46.9% to 59.2%, after no clear trend before it. One year is not a trend, but it is worth knowing which direction the last one moved.
Among the 38 consumer staples companies here, 55% pay out a larger share on this basis.
The arithmetic
- GAAP earnings — dividends declared per share $1.95 ÷ diluted EPS $1.33
- Operating cash flow — dividends paid $697.0m ÷ operating cash flow $2,155.0m
- Free cash flow — dividends paid $697.0m ÷ (operating cash flow $2,155.0m − capex $978.0m)
Where the figures came from
- 10-K filed 2025-11-10 · accession
0000100493-25-000095
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 ($1.95); 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.