The payout ratio you were shown is one of four.
A dividend can look comfortable on reported earnings and impossible on the cash the business actually produced. Both numbers come out of the same filing. This shows every basis a company's own filings support, says which one applies, and shows the arithmetic.
340 companies · 14 sectors · 163 where the bases disagree by 20 points or more
Widest disagreements
CCICROWN CASTLE INC.402pts apartOGEOGE ENERGY CORP.383pts apartLYBLyondellBasell Industries N.V.381pts apartOCSLOaktree Specialty Lending Corp345pts apartWHRWHIRLPOOL CORP /DE/307pts apartVTRVentas, Inc.303pts apartELESTEE LAUDER COMPANIES INC251pts apartNXSTNEXSTAR MEDIA GROUP, INC.223pts apartABBVAbbVie Inc.221pts apartLENLENNAR CORP /NEW/215pts apartESSESSEX PROPERTY TRUST, INC.209pts apartOREALTY INCOME CORP202pts apart
By sector
Industrials53Utilities37Staples33Real estate32Technology28Health care27Financials27Consumer discretionary27Materials25Communications22Energy19Financial services5Investment company4not classified1
Covered by nothing. On these, every basis is negative — there is no payout ratio because there is nothing to divide by: CCOI · FMC
Every company
340 shown
| Ticker | Company | Sector | Basis that applies | Spread |
|---|---|---|---|---|
| AA | Alcoa Corp | Materials | Free cash flow | 16 |
| AAPL | Apple Inc. | Technology | Free cash flow | 2 |
| ABBV | AbbVie Inc. | Health care | Free cash flow | 221 |
| ABT | ABBOTT LABORATORIES | Health care | Free cash flow | 21 |
| ADI | ANALOG DEVICES INC | Technology | Free cash flow | 45 |
| ADM | Archer-Daniels-Midland Co | Staples | Free cash flow | 73 |
| AEE | AMEREN CORP | Utilities | GAAP earnings | 30 |
| AEP | AMERICAN ELECTRIC POWER CO INC | Utilities | GAAP earnings | 29 |
| AES | AES CORP | Utilities | GAAP earnings | 44 |
| AFL | AFLAC INC | Financials | GAAP earnings | — |
| AIG | AMERICAN INTERNATIONAL GROUP, INC. | Financials | GAAP earnings | — |
| ALB | ALBEMARLE CORP | Materials | Free cash flow | 13 |
| ALL | ALLSTATE CORP | Financials | GAAP earnings | — |
| AMAT | APPLIED MATERIALS INC /DE | Technology | Free cash flow | 7 |
| AMCR | Amcor plc | Consumer discretionary | Free cash flow | 53 |
| AME | AMETEK INC/ | Industrials | Free cash flow | 3 |
| AMGN | AMGEN INC | Health care | Free cash flow | 16 |
| AMH | American Homes 4 Rent | Real estate | Funds from operations | 50 |
| AMP | AMERIPRISE FINANCIAL INC | Financial services | Free cash flow | 10 |
| AMT | AMERICAN TOWER CORP /MA/ | Real estate | Funds from operations | 67 |
| AON | Aon plc | Financial services | Free cash flow | 2 |
| APA | APA Corp | Energy | Free cash flow | 17 |
| APD | Air Products & Chemicals, Inc. | Materials | — | — |
| APH | AMPHENOL CORP /DE/ | Technology | Free cash flow | 7 |
| ARCC | ARES CAPITAL CORP | Investment company | Net investment income | 11 |
| ARE | ALEXANDRIA REAL ESTATE EQUITIES, INC. | Real estate | Operating cash flow | — |
| ATEN | A10 Networks, Inc. | Technology | Free cash flow | 22 |
| ATNI | ATN International, Inc. | Communications | Free cash flow | 24 |
| ATO | ATMOS ENERGY CORP | Utilities | GAAP earnings | 20 |
| AVB | AVALONBAY COMMUNITIES INC | Real estate | Funds from operations | 35 |
| AVGO | Broadcom Inc. | Technology | Free cash flow | 9 |
| AVY | Avery Dennison Corp | Staples | Free cash flow | 9 |
| AWK | American Water Works Company, Inc. | Utilities | GAAP earnings | 27 |
| AXP | AMERICAN EXPRESS CO | Financials | GAAP earnings | — |
| BAC | BANK OF AMERICA CORP /DE/ | Financials | GAAP earnings | — |
| BALL | BALL Corp | Industrials | Free cash flow | 10 |
| BAX | BAXTER INTERNATIONAL INC | Health care | Free cash flow | 64 |
| BBY | BEST BUY CO INC | Consumer discretionary | Free cash flow | 35 |
| BDX | BECTON DICKINSON & CO | Health care | Free cash flow | 37 |
| BG | Bunge Global SA | Staples | — | 2 |
| BK | Bank of New York Mellon Corp | Financials | GAAP earnings | — |
| BKNG | Booking Holdings Inc. | Industrials | Free cash flow | 8 |
| BKR | Baker Hughes Co | Industrials | Free cash flow | 12 |
| BLK | BlackRock, Inc. | Financials | GAAP earnings | — |
| BMY | BRISTOL MYERS SQUIBB CO | Health care | Free cash flow | 36 |
| BXP | BXP, Inc. | Real estate | Funds from operations | 181 |
| C | CITIGROUP INC | Financials | GAAP earnings | — |
| CABO | Cable One, Inc. | Communications | Free cash flow | 3 |
| CAG | CONAGRA BRANDS INC. | Staples | Free cash flow | 21 |
| CAH | CARDINAL HEALTH INC | Industrials | Free cash flow | 19 |
| CARR | CARRIER GLOBAL Corp | Industrials | Free cash flow | 9 |
| CAT | CATERPILLAR INC | Industrials | Free cash flow | 8 |
| CB | Chubb Ltd | Financials | GAAP earnings | — |
| CCI | CROWN CASTLE INC. | Real estate | Funds from operations | 402 |
| CCOI | COGENT COMMUNICATIONS HOLDINGS, INC. | Communications | — | — |
| CE | Celanese Corp | Materials | Free cash flow | 0 |
| CF | CF Industries Holdings, Inc. | Materials | Free cash flow | 10 |
| CHD | CHURCH & DWIGHT CO INC /DE/ | Staples | Free cash flow | 15 |
| CHRD | Chord Energy Corp | Energy | Free cash flow | 30 |
| CI | Cigna Group | Health care | Operating cash flow | 10 |
| CINF | CINCINNATI FINANCIAL CORP | Financials | GAAP earnings | — |
| CL | COLGATE PALMOLIVE CO | Staples | Free cash flow | 36 |
| CLX | CLOROX CO /DE/ | Staples | Free cash flow | 18 |
| CMCSA | COMCAST CORP | Communications | Free cash flow | 10 |
| CME | CME GROUP INC. | Financial services | Free cash flow | 49 |
| CMI | CUMMINS INC | Industrials | Free cash flow | 15 |
| CMS | CMS ENERGY CORP | Utilities | GAAP earnings | 32 |
| CNP | CENTERPOINT ENERGY INC | Utilities | GAAP earnings | 32 |
| CNX | CNX Resources Corp | Energy | Free cash flow | 0 |
| COF | CAPITAL ONE FINANCIAL CORP | Financials | GAAP earnings | — |
| COP | CONOCOPHILLIPS | Energy | Operating cash flow | 30 |
| COR | Cencora, Inc. | Industrials | Free cash flow | 16 |
| COST | COSTCO WHOLESALE CORP /NEW | Consumer discretionary | Free cash flow | 11 |
| CPB | CAMPBELL'S Co | Staples | Free cash flow | 36 |
| CPT | CAMDEN PROPERTY TRUST | Real estate | Funds from operations | 63 |
| CSCO | CISCO SYSTEMS, INC. | Technology | Free cash flow | 18 |
| CSCO | CISCO SYSTEMS, INC. | Technology | Free cash flow | 18 |
| CSX | CSX CORP | Industrials | Free cash flow | 36 |
| CTRA | Coterra Energy Inc. | Energy | Free cash flow | 22 |
| CTVA | Corteva, Inc. | Staples | Free cash flow | 30 |
| CVS | CVS HEALTH Corp | Consumer discretionary | Free cash flow | 159 |
| CVX | CHEVRON CORP | Energy | Free cash flow | 66 |
| D | DOMINION ENERGY, INC | Utilities | GAAP earnings | 35 |
| DD | DuPont de Nemours, Inc. | Materials | Free cash flow | 156 |
| DE | DEERE & CO | Industrials | Free cash flow | 12 |
| DELL | Dell Technologies Inc. | Technology | Free cash flow | 11 |
| DGX | QUEST DIAGNOSTICS INC | Health care | Free cash flow | 17 |
| DHI | HORTON D R INC /DE/ | Industrials | Free cash flow | 1 |
| DHR | DANAHER CORP /DE/ | Industrials | Free cash flow | 11 |
| DINO | HF Sinclair Corp | Industrials | Free cash flow | 36 |
| DIS | Walt Disney Co | Consumer discretionary | Free cash flow | 8 |
| DKS | DICK'S SPORTING GOODS, INC. | Consumer discretionary | Free cash flow | 77 |
| DLR | DIGITAL REALTY TRUST, INC. | Real estate | Funds from operations | 67 |
| DLX | DELUXE CORP | Communications | Free cash flow | 46 |
| DOC | HEALTHPEAK PROPERTIES, INC. | Real estate | Funds from operations | 170 |
| DOV | DOVER Corp | Industrials | Free cash flow | 5 |
| DOW | DOW INC. | Materials | — | — |
| DPZ | DOMINOS PIZZA INC | Staples | Free cash flow | 10 |
| DRI | DARDEN RESTAURANTS INC | Consumer discretionary | Free cash flow | 25 |
| DTE | DTE ENERGY CO | Utilities | GAAP earnings | 38 |
| DUK | Duke Energy CORP | Utilities | GAAP earnings | 40 |
| DVN | DEVON ENERGY CORP/DE | Energy | Free cash flow | 14 |
| EBAY | EBAY INC | not classified | Free cash flow | 11 |
| ECL | ECOLAB INC. | Staples | Free cash flow | 14 |
| ED | CONSOLIDATED EDISON INC | Utilities | GAAP earnings | 33 |
| EIX | EDISON INTERNATIONAL | Utilities | GAAP earnings | 7 |
| EL | ESTEE LAUDER COMPANIES INC | Staples | Free cash flow | 251 |
| ELV | Elevance Health, Inc. | Health care | Free cash flow | 21 |
| EMN | EASTMAN CHEMICAL CO | Materials | Free cash flow | 51 |
| EMR | EMERSON ELECTRIC CO | Industrials | Free cash flow | 14 |
| EOG | EOG RESOURCES INC | Energy | Free cash flow | 22 |
| EQIX | EQUINIX INC | Real estate | Funds from operations | 89 |
| EQR | VIVMARK RESIDENTIAL | Real estate | Funds from operations | 43 |
| EQT | EQT Corp | Energy | Free cash flow | 12 |
| ES | EVERSOURCE ENERGY | Utilities | GAAP earnings | 39 |
| ESE | ESCO TECHNOLOGIES INC | Technology | Free cash flow | 1 |
| ESS | ESSEX PROPERTY TRUST, INC. | Real estate | Funds from operations | 209 |
| ETN | Eaton Corp plc | Industrials | Free cash flow | 9 |
| ETR | ENTERGY CORP /DE/ | Utilities | GAAP earnings | 42 |
| EVC | ENTRAVISION COMMUNICATIONS CORP | Communications | Operating cash flow | — |
| EXC | EXELON CORP | Utilities | GAAP earnings | 33 |
| EXPE | Expedia Group, Inc. | Industrials | Free cash flow | 11 |
| EXR | Extra Space Storage Inc. | Real estate | Funds from operations | 67 |
| F | FORD MOTOR CO | Industrials | Free cash flow | 10 |
| FANG | Diamondback Energy, Inc. | Energy | Free cash flow | 57 |
| FCX | FREEPORT-MCMORAN INC | Materials | Free cash flow | 62 |
| FDX | FEDEX CORP | Industrials | Free cash flow | 16 |
| FE | FIRSTENERGY CORP | Utilities | GAAP earnings | 73 |
| FLO | FLOWERS FOODS INC | Staples | Free cash flow | 199 |
| FMC | FMC CORP | Materials | — | — |
| FOXA | Fox Corp | Communications | Free cash flow | 5 |
| FTI | TechnipFMC plc | Industrials | Free cash flow | 4 |
| GD | GENERAL DYNAMICS CORP | Industrials | Free cash flow | 9 |
| GILD | GILEAD SCIENCES, INC. | Health care | Free cash flow | 7 |
| GIS | GENERAL MILLS INC | Staples | Free cash flow | 20 |
| GLPI | Gaming & Leisure Properties, Inc. | Real estate | Funds from operations | 28 |
| GLW | CORNING INC /NY | Materials | Free cash flow | 34 |
| GM | General Motors Co | Industrials | Free cash flow | 15 |
| GOOGL | Alphabet Inc. | Technology | Free cash flow | 8 |
| GPC | GENUINE PARTS CO | Industrials | Free cash flow | 71 |
| GRMN | GARMIN LTD | Industrials | Free cash flow | 9 |
| GS | GOLDMAN SACHS GROUP INC | Financials | GAAP earnings | — |
| GTN | GRAY MEDIA, INC | Communications | Free cash flow | 7 |
| GWW | W.W. GRAINGER, INC. | Industrials | Free cash flow | 12 |
| HAL | HALLIBURTON CO | Energy | Free cash flow | 25 |
| HCA | HCA Healthcare, Inc. | Health care | Free cash flow | 5 |
| HD | HOME DEPOT, INC. | Consumer discretionary | Free cash flow | 16 |
| HIG | HARTFORD INSURANCE GROUP, INC. | Financials | GAAP earnings | — |
| HLT | Hilton Worldwide Holdings Inc. | Consumer discretionary | Free cash flow | 3 |
| HON | HONEYWELL INTERNATIONAL INC | Industrials | Free cash flow | 16 |
| HPQ | HP INC | Technology | Free cash flow | 14 |
| HPQ | HP INC | Technology | Free cash flow | 14 |
| HRL | HORMEL FOODS CORP /DE/ | Staples | Free cash flow | 58 |
| HST | HOST HOTELS & RESORTS, INC. | Real estate | Funds from operations | 45 |
| HSY | HERSHEY CO | Staples | Free cash flow | 12 |
| HTGC | Hercules Capital, Inc. | Investment company | Net investment income | 2 |
| HUM | HUMANA INC | Health care | Free cash flow | 79 |
| IBM | INTERNATIONAL BUSINESS MACHINES CORP | Technology | Free cash flow | 13 |
| ICE | Intercontinental Exchange, Inc. | Financial services | Free cash flow | 10 |
| IFF | INTERNATIONAL FLAVORS & FRAGRANCES INC | Materials | Free cash flow | 112 |
| INTU | INTUIT INC. | Technology | Free cash flow | 11 |
| INVH | Invitation Homes Inc. | Real estate | Funds from operations | 63 |
| IP | INTERNATIONAL PAPER CO /NEW/ | Materials | — | — |
| IR | Ingersoll Rand Inc. | Industrials | Free cash flow | 3 |
| IRDM | Iridium Communications Inc. | Communications | Free cash flow | 39 |
| IRM | IRON MOUNTAIN INC | Real estate | Funds from operations | 13 |
| ITW | ILLINOIS TOOL WORKS INC | Industrials | Free cash flow | 9 |
| JCI | Johnson Controls International plc | Industrials | Free cash flow | 16 |
| JNJ | JOHNSON & JOHNSON | Health care | Free cash flow | 16 |
| JPM | JPMORGAN CHASE & CO | Financials | GAAP earnings | — |
| KDP | Keurig Dr Pepper Inc. | Staples | Free cash flow | 23 |
| KHC | Kraft Heinz Co | Staples | Free cash flow | 9 |
| KIM | KIMCO REALTY CORP | Real estate | Funds from operations | 67 |
| KLAC | KLA CORP | Industrials | Free cash flow | 6 |
| KMB | KIMBERLY CLARK CORP | Staples | Free cash flow | 42 |
| KMI | KINDER MORGAN, INC. | Utilities | GAAP earnings | 46 |
| KO | COCA COLA CO | Staples | Free cash flow | 99 |
| KR | KROGER CO | Staples | Free cash flow | 77 |
| KVUE | Kenvue Inc. | Staples | Free cash flow | 37 |
| LEN | LENNAR CORP /NEW/ | Industrials | Operating cash flow | 215 |
| LH | LABCORP HOLDINGS INC. | Health care | Free cash flow | 13 |
| LHX | L3HARRIS TECHNOLOGIES, INC. /DE/ | Industrials | Free cash flow | 27 |
| LIN | LINDE PLC | Materials | Free cash flow | 28 |
| LLY | ELI LILLY & Co | Health care | Free cash flow | 33 |
| LMT | LOCKHEED MARTIN CORP | Industrials | Free cash flow | 26 |
| LNG | Cheniere Energy, Inc. | Utilities | GAAP earnings | 10 |
| LNT | ALLIANT ENERGY CORP | Utilities | GAAP earnings | 20 |
| LOW | LOWES COMPANIES INC | Consumer discretionary | Free cash flow | 13 |
| LRCX | LAM RESEARCH CORP | Industrials | Free cash flow | 8 |
| LUMN | Lumen Technologies, Inc. | Communications | Free cash flow | — |
| LVS | LAS VEGAS SANDS CORP | Consumer discretionary | Free cash flow | 17 |
| LW | Lamb Weston Holdings, Inc. | Staples | Free cash flow | 50 |
| LYB | LyondellBasell Industries N.V. | Materials | Free cash flow | 381 |
| MAA | MID AMERICA APARTMENT COMMUNITIES INC. | Real estate | Funds from operations | 95 |
| MAIN | Main Street Capital CORP | Investment company | Net investment income | 4 |
| MAR | MARRIOTT INTERNATIONAL INC /MD/ | Consumer discretionary | Free cash flow | 5 |
| MCD | MCDONALDS CORP | Consumer discretionary | Free cash flow | 23 |
| MCK | MCKESSON CORP | Industrials | Free cash flow | 2 |
| MDLZ | Mondelez International, Inc. | Staples | Free cash flow | 48 |
| MDT | Medtronic plc | Health care | Free cash flow | 26 |
| MET | METLIFE INC | Financials | GAAP earnings | — |
| META | Meta Platforms, Inc. | Technology | Free cash flow | 7 |
| MKC | MCCORMICK & CO INC | Staples | Free cash flow | 15 |
| MLM | MARTIN MARIETTA MATERIALS INC | Materials | Free cash flow | 9 |
| MMC | MARSH & MCLENNAN COMPANIES, INC. | Financial services | Free cash flow | 9 |
| MMM | 3M CO | Health care | Free cash flow | 63 |
| MO | ALTRIA GROUP, INC. | Staples | Free cash flow | 26 |
| MOS | MOSAIC CO | Materials | — | 18 |
| MPC | Marathon Petroleum Corp | Energy | Free cash flow | 14 |
| MRK | Merck & Co., Inc. | Health care | Free cash flow | 21 |
| MS | MORGAN STANLEY | Financials | GAAP earnings | — |
| MSFT | MICROSOFT CORP | Technology | Free cash flow | 25 |
| MSI | Motorola Solutions, Inc. | Technology | Free cash flow | 9 |
| MTB | M&T BANK CORP | Financials | GAAP earnings | — |
| MUR | MURPHY OIL CORP | Energy | Free cash flow | 166 |
| NEE | NEXTERA ENERGY INC | Utilities | GAAP earnings | 31 |
| NEM | NEWMONT Corp /DE/ | Materials | Free cash flow | 5 |
| NI | NISOURCE INC. | Utilities | GAAP earnings | 35 |
| NJR | NEW JERSEY RESOURCES CORP | Utilities | GAAP earnings | 16 |
| NKE | NIKE, Inc. | Consumer discretionary | Free cash flow | 33 |
| NNN | NNN REIT, INC. | Real estate | Funds from operations | 48 |
| NOC | NORTHROP GRUMMAN CORP /DE/ | Industrials | Free cash flow | 12 |
| NOV | NOV Inc. | Industrials | Free cash flow | 116 |
| NSC | NORFOLK SOUTHERN CORP | Industrials | Free cash flow | 28 |
| NSSC | NAPCO SECURITY TECHNOLOGIES, INC | Technology | Free cash flow | 18 |
| NTAP | NetApp, Inc. | Technology | Free cash flow | 13 |
| NTRS | NORTHERN TRUST CORP | Financials | GAAP earnings | — |
| NUE | NUCOR CORP | Materials | — | 14 |
| NVDA | NVIDIA CORP | Technology | Free cash flow | 0 |
| NWSA | NEWS CORP | Communications | Free cash flow | 19 |
| NXST | NEXSTAR MEDIA GROUP, INC. | Communications | Free cash flow | 223 |
| NYT | NEW YORK TIMES CO | Communications | Free cash flow | 16 |
| O | REALTY INCOME CORP | Real estate | Funds from operations | 202 |
| OCSL | Oaktree Specialty Lending Corp | Investment company | Net investment income | 345 |
| OGE | OGE ENERGY CORP. | Utilities | GAAP earnings | 383 |
| OGN | Organon & Co. | Health care | Free cash flow | 35 |
| OKE | ONEOK INC /NEW/ | Utilities | GAAP earnings | 59 |
| OMC | OMNICOM GROUP INC. | Consumer discretionary | Free cash flow | 1 |
| ORCL | ORACLE CORP | Technology | — | 16 |
| OTIS | Otis Worldwide Corp | Industrials | Free cash flow | 7 |
| OXY | OCCIDENTAL PETROLEUM CORP /DE/ | Energy | Free cash flow | 44 |
| PBI | PITNEY BOWES INC /DE/ | Technology | Free cash flow | 22 |
| PCAR | PACCAR INC | Industrials | Free cash flow | 10 |
| PCG | PG&E Corp | Utilities | GAAP earnings | 7 |
| PEG | PUBLIC SERVICE ENTERPRISE GROUP INC | Utilities | GAAP earnings | 22 |
| PEP | PEPSICO INC | Staples | Free cash flow | 36 |
| PFE | PFIZER INC | Health care | Free cash flow | 43 |
| PG | PROCTER & GAMBLE Co | Staples | Free cash flow | 15 |
| PGR | PROGRESSIVE CORP/OH/ | Financials | GAAP earnings | — |
| PH | Parker-Hannifin Corp | Industrials | Free cash flow | 5 |
| PHM | PULTEGROUP INC/MI/ | Industrials | Free cash flow | 2 |
| PKG | PACKAGING CORP OF AMERICA | Materials | Free cash flow | 33 |
| PLD | Prologis, Inc. | Real estate | Funds from operations | 52 |
| PM | Philip Morris International Inc. | Staples | Free cash flow | 10 |
| PNC | PNC FINANCIAL SERVICES GROUP, INC. | Financials | GAAP earnings | — |
| PNW | PINNACLE WEST CAPITAL CORP | Utilities | GAAP earnings | 48 |
| PPG | PPG INDUSTRIES INC | Materials | Free cash flow | 22 |
| PPL | PPL Corp | Utilities | GAAP earnings | 38 |
| PRU | PRUDENTIAL FINANCIAL INC | Financials | GAAP earnings | — |
| PSA | Public Storage | Real estate | Funds from operations | 67 |
| PSKY | Paramount Skydance Corp | Communications | Free cash flow | 10 |
| PSX | Phillips 66 | Energy | Operating cash flow | 5 |
| QCOM | QUALCOMM INC/DE | Technology | Free cash flow | 42 |
| RCL | ROYAL CARIBBEAN CRUISES LTD | Industrials | Free cash flow | 54 |
| RL | RALPH LAUREN CORP | Consumer discretionary | Free cash flow | 10 |
| RMD | RESMED INC | Health care | Free cash flow | 4 |
| ROK | ROCKWELL AUTOMATION, INC | Industrials | Free cash flow | 30 |
| ROST | ROSS STORES, INC. | Consumer discretionary | Free cash flow | 7 |
| RPM | RPM INTERNATIONAL INC/DE/ | Materials | Free cash flow | 11 |
| RRC | RANGE RESOURCES CORP | Energy | Free cash flow | 7 |
| RTX | RTX Corp | Industrials | Free cash flow | 20 |
| SAIC | Science Applications International Corp | Technology | Free cash flow | 8 |
| SBAC | SBA COMMUNICATIONS CORP | Real estate | Funds from operations | 8 |
| SBGI | Sinclair, Inc. | Communications | Free cash flow | 23 |
| SBUX | STARBUCKS CORP | Consumer discretionary | Free cash flow | 92 |
| SCHW | SCHWAB CHARLES CORP | Financials | GAAP earnings | — |
| SHEN | SHENANDOAH TELECOMMUNICATIONS CO/VA/ | Communications | — | — |
| SHW | SHERWIN WILLIAMS CO | Consumer discretionary | Free cash flow | 8 |
| SIRI | SIRIUS XM HOLDINGS INC. | Communications | Free cash flow | 27 |
| SJM | J M SMUCKER Co | Staples | Free cash flow | 9 |
| SLB | SLB LIMITED/NV | Energy | Free cash flow | 23 |
| SO | SOUTHERN CO | Utilities | GAAP earnings | 44 |
| SPG | SIMON PROPERTY GROUP INC. | Real estate | Funds from operations | 46 |
| SRE | SEMPRA | Utilities | GAAP earnings | 59 |
| SSP | E.W. SCRIPPS Co | Communications | Free cash flow | 49 |
| STAG | STAG Industrial, Inc. | Real estate | Funds from operations | 52 |
| STE | STERIS plc | Health care | Free cash flow | 13 |
| STLD | STEEL DYNAMICS INC | Materials | Free cash flow | 38 |
| STM | STMicroelectronics N.V. | Technology | Operating cash flow | 185 |
| STT | STATE STREET CORP | Financials | GAAP earnings | — |
| STZ | CONSTELLATION BRANDS, INC. | Staples | Free cash flow | 13 |
| SWK | STANLEY BLACK & DECKER, INC. | Industrials | Free cash flow | 73 |
| SWX | Southwest Gas Holdings, Inc. | Utilities | GAAP earnings | 9 |
| SYK | STRYKER CORP | Health care | Free cash flow | 14 |
| SYY | SYSCO CORP | Staples | Free cash flow | 20 |
| T | AT&T INC. | Communications | Free cash flow | 22 |
| TDS | TELEPHONE & DATA SYSTEMS INC /DE/ | Communications | Free cash flow | 29 |
| TFC | TRUIST FINANCIAL CORP | Financials | GAAP earnings | — |
| TGT | TARGET CORP | Consumer discretionary | Free cash flow | 41 |
| TJX | TJX COMPANIES INC /DE/ | Consumer discretionary | Free cash flow | 11 |
| TMO | THERMO FISHER SCIENTIFIC INC. | Industrials | Free cash flow | 2 |
| TMUS | T-Mobile US, Inc. | Communications | Free cash flow | 24 |
| TPR | TAPESTRY, INC. | Consumer discretionary | Free cash flow | 6 |
| TRGP | Targa Resources Corp. | Utilities | GAAP earnings | 119 |
| TRV | TRAVELERS COMPANIES, INC. | Financials | GAAP earnings | — |
| TSCO | TRACTOR SUPPLY CO /DE/ | Consumer discretionary | Free cash flow | 36 |
| TSN | TYSON FOODS, INC. | Staples | Free cash flow | 114 |
| TXN | TEXAS INSTRUMENTS INC | Technology | Free cash flow | 122 |
| UDR | UDR, Inc. | Real estate | Funds from operations | 89 |
| UGI | UGI CORP /PA/ | Utilities | GAAP earnings | 56 |
| UNH | UNITEDHEALTH GROUP INC | Health care | Free cash flow | 26 |
| UNP | UNION PACIFIC CORP | Industrials | Free cash flow | 24 |
| UPS | UNITED PARCEL SERVICE INC | Industrials | Free cash flow | 49 |
| USB | US BANCORP \DE\ | Financials | GAAP earnings | — |
| VICI | VICI PROPERTIES INC. | Real estate | Funds from operations | 6 |
| VLO | VALERO ENERGY CORP/TX | Energy | Free cash flow | 36 |
| VMC | Vulcan Materials CO | Materials | Free cash flow | 10 |
| VTR | Ventas, Inc. | Real estate | Funds from operations | 303 |
| VTRS | Viatris Inc | Health care | Free cash flow | 5 |
| VZ | VERIZON COMMUNICATIONS INC | Communications | Free cash flow | 36 |
| WAB | WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP | Industrials | Free cash flow | 5 |
| WEC | WEC ENERGY GROUP, INC. | Utilities | GAAP earnings | 40 |
| WELL | WELLTOWER INC. | Real estate | Funds from operations | 140 |
| WFC | WELLS FARGO & COMPANY/MN | Financials | GAAP earnings | — |
| WHR | WHIRLPOOL CORP /DE/ | Consumer discretionary | Free cash flow | 307 |
| WLK | WESTLAKE CORP | Materials | — | — |
| WM | WASTE MANAGEMENT INC | Industrials | Free cash flow | 27 |
| WMB | WILLIAMS COMPANIES, INC. | Utilities | GAAP earnings | 202 |
| WMT | Walmart Inc. | Consumer discretionary | Free cash flow | 32 |
| WPC | W. P. Carey Inc. | Real estate | Funds from operations | 109 |
| WSM | WILLIAMS SONOMA INC | Consumer discretionary | Free cash flow | 6 |
| WTRG | Essential Utilities, Inc. | Utilities | GAAP earnings | 24 |
| WY | WEYERHAEUSER CO | Real estate | Funds from operations | 114 |
| XEL | XCEL ENERGY INC | Utilities | GAAP earnings | 35 |
| XOM | EXXON MOBIL CORP | Energy | Free cash flow | 40 |
| XRX | Xerox Holdings Corp | Technology | Free cash flow | 5 |
| XYL | Xylem Inc. | Industrials | Free cash flow | 11 |
| YUM | YUM BRANDS INC | Consumer discretionary | Free cash flow | 12 |
| ZBH | ZIMMER BIOMET HOLDINGS, INC. | Health care | Free cash flow | 16 |
| ZTS | Zoetis Inc. | Health care | Free cash flow | 8 |