The business behind the dividend
| Measure | AROC | Median | Formula |
|---|---|---|---|
| Return on equity | 21.6% | 10.6% | Net income ÷ shareholders’ equity |
| Return on capital employed | 10.9% | 10.0% | Operating income ÷ (equity + total debt) |
| Owner earnings | $76.59m | $120.90m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $119.64m | $155.08m | Operating cash flow − capital expenditure |
| Operating margin | 28.4% | 14.3% | Operating income ÷ revenue |
| Net margin | 21.6% | 10.1% | Net income ÷ revenue |
| Debt to equity | 1.62x | 0.73x | Total debt ÷ shareholders’ equity |
| Interest cover | 2.56x | 4.22x | Operating income ÷ interest expense |
| Current ratio | 1.54x | 1.55x | Current assets ÷ current liabilities |
| Long-term debt to working capital | 22.53x | 1.88x | Long-term debt ÷ (current assets − current liabilities) |
| Cash conversion | 1.93x | 1.66x | Operating cash flow ÷ net income |
| Accruals | -6.9% | -3.1% | (Net income − operating cash flow) ÷ total assets |
Ten years of it
The same measures, for every year the filings support. One year is a fact; a row is a business.
| Measure | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | Median |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on equity | 21.6% | 13.0% | 12.1% | 5.1% | 3.2% | -7.3% | 9.0% | 2.5% | 2.4% | -7.6% | 3.2% |
| Return on capital employed | 10.9% | 6.6% | 5.8% | 2.5% | 1.6% | -3.3% | 3.0% | 1.5% | -1.9% | -4.1% | 1.6% |
| Operating margin | 28.4% | 20.1% | 14.4% | 7.2% | 5.0% | -9.8% | 6.1% | 3.9% | -5.4% | -11.1% | 5.0% |
| Net margin | 21.6% | 14.9% | 10.6% | 5.2% | 3.6% | -7.8% | 10.1% | 2.3% | 2.4% | -6.8% | 3.6% |
| Debt to equity | 1.62x | 1.66x | 1.82x | 1.80x | 1.72x | 1.81x | 0.79x | 1.83x | 1.84x | 2.03x | 1.80x |
| Current ratio | 1.54x | 1.24x | 1.40x | 1.56x | 1.49x | 1.63x | 1.67x | 1.70x | 1.69x | 2.02x | 1.56x |
| Cash conversion | 1.93x | 2.49x | 2.95x | 4.59x | 8.41x | — | 2.98x | 10.73x | 10.64x | — | 4.59x |
How it compares in utilities
Among the 76 utilities companies here measured on GAAP earnings, Archrock pays out less than 63 of them. The median for that group is 60.7%, against this company’s 43.7%.
Closest on GAAP earnings
- Vistra (VST) 41.4%
- NRG Energy (NRG) 43.9%
- Targa Resources (TRGP) 44.2%
- Chesapeake Utilities (CPK) 45.1%
Same sector and same denominator, so the figures are comparable. All 80 in utilities →