The business behind the dividend
| Measure | ATHM | Median | Formula |
|---|---|---|---|
| Return on equity | 6.3% | 10.6% | Net income ÷ shareholders’ equity |
| Return on capital employed | — | — | Operating income ÷ (equity + total debt) |
| Owner earnings | $205.24m | $120.90m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $110.31m | $155.08m | Operating cash flow − capital expenditure |
| Operating margin | 11.9% | 14.3% | Operating income ÷ revenue |
| Net margin | 22.4% | 10.1% | Net income ÷ revenue |
| Debt to equity | — | — | Total debt ÷ shareholders’ equity |
| Interest cover | — | — | Operating income ÷ interest expense |
| Current ratio | 6.00x | 1.55x | Current assets ÷ current liabilities |
| Long-term debt to working capital | — | — | Long-term debt ÷ (current assets − current liabilities) |
| Cash conversion | 0.62x | 1.66x | Operating cash flow ÷ net income |
| Accruals | 2.0% | -3.1% | (Net income − operating cash flow) ÷ total assets |
Not computed here: Debt to equity, Long-term debt to working capital, Interest cover, Return on capital employed — why a blank is not a zero.
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 | 6.3% | 7.0% | 8.1% | 7.8% | 9.9% | 19.3% | 21.9% | 25.8% | 25.2% | 19.3% | 9.9% |
| Operating margin | 11.9% | 14.3% | 15.8% | 18.0% | 24.6% | 36.4% | 38.4% | 39.7% | 32.9% | 19.3% | 19.3% |
| Net margin | 22.4% | 23.9% | 26.9% | 26.7% | 31.1% | 39.3% | 38.0% | 39.7% | 32.2% | 20.6% | 26.9% |
| Current ratio | 6.00x | 5.56x | 5.03x | 6.02x | 5.85x | 4.39x | 4.12x | 3.16x | 2.64x | 2.96x | 4.39x |
| Cash conversion | 0.62x | 0.82x | 1.27x | 1.38x | 1.57x | 0.98x | 0.90x | 1.08x | 1.24x | 1.32x | 1.08x |
How it compares in technology
Among the 101 technology companies here measured on free cash flow, Autohome pays out less than 5 of them. The median for that group is 27.8%, against this company’s 192.0%.
Closest on free cash flow
- NVE (NVEC) 133.7%
- Energizer Holdings (ENR) 137.8%
- Texas Instruments (TXN) 192.0%
- Jianpu Technology (AIJTY) 243.3%
Same sector and same denominator, so the figures are comparable. All 115 in technology →