Agilent Technologies dividend
Agilent Technologies' latest declared dividend annualizes to $1.02, up from $0.78 in FY2021 to $0.99 in FY2025. Agilent Technologies has generally generated enough free cash flow to fund dividends, although shareholder payments exceeded free cash flow in two of the five years shown.
How much does Agilent Technologies pay in dividends?
The latest declared dividend annualizes to $1.02. The base case raises it gradually to $1.17 by October 2029, consistent with annual increases from $0.78 in FY2021 to $0.99 in FY2025 but slower recent growth.
| Oct 2025 | Oct 2024 | Oct 2023 | Oct 2022 | Oct 2021 | |
|---|---|---|---|---|---|
| Free cash flow per share | 4.04 | 4.72 | 4.98 | 3.40 | 4.22 |
| − Paid to minority owners, per share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| − Dividends paid, per share | 0.99 | 0.94 | 0.90 | 0.83 | 0.77 |
What this means. Real free cash flow per share is lower because it subtracts the value of shares given to employees as pay, treating that pay as a real cost to shareholders.
Is Agilent Technologies' dividend covered by its cash?
Agilent has generally generated enough free cash flow to fund investment, acquisitions, dividends, and buybacks, but shareholder payments exceeded that year’s free cash flow in two of the five years shown.
Dividends rose steadily from $236 million in October 2021 to $282 million in October 2025, while buybacks moved more sharply. In fiscal 2024, operations generated $1.751 billion and property-and-equipment spending was $378 million. That left $1.373 billion of free cash flow. Agilent paid $274 million in dividends and repurchased $1.150 billion of stock, so distributions exceeded that year’s free cash flow.
| Oct 2025 | Oct 2024 | Oct 2023 | Oct 2022 | Oct 2021 | |
|---|---|---|---|---|---|
| Free cash flow | 1,152 | 1,373 | 1,474 | 1,021 | 1,297 |
| − Dividends paid | 282 | 274 | 265 | 250 | 236 |
| − Share buybacks | 425 | 1,150 | 575 | 1,139 | 788 |
| = Free cash flow not paid out | 445 | 634 | 273 | ||
| Paid out, % of free cash flow | 61.4% | 103.7% | 57.0% | 136.0% | 79.0% |
What this means. In October 2021, our net debt is lower than the company's number because we also subtract short-term investments from what it owes, while the company subtracts only cash.
What could change Agilent Technologies' dividend?
The bear case freezes the dividend at $1.02 because the board must approve future payments and cash also funds acquisitions, debt and Frederick. The bull case reaches $1.27 as stronger cash generation supports faster increases. Forecast operating cash flow of $1.6–$1.7 billion against $450 million of capital spending supports the base and bull cases.
| October 2027 | October 2028 | October 2029 | |
|---|---|---|---|
| Earnings | 1,496 (1,377 / 1,565) | 1,612 (1,381 / 1,735) | 1,736 (1,416 / 1,911) |
| Shares (millions) | 281 (282 / 280) | 281 (283 / 279) | 281 (284 / 277) |
| Dividends per share | 1.06 (1.02 / 1.08) | 1.11 (1.02 / 1.17) | 1.17 (1.02 / 1.27) |
| Price to earnings | 24.00 (21.00 / 28.00) | 22.00 (18.00 / 29.00) | 20.00 (16.00 / 30.00) |
What is Agilent Technologies' dividend yield today?
Free cash flow yield measures cash left after operating the business and buying necessary equipment, relative to market value. A low yield and a small dividend yield mean investors are paying mainly for future earnings and cash growth. The table’s “real” free cash flow yield is an adjustment, not a universal accounting measure, so its method must be understood before relying on it.