The business behind the dividend
| Measure | BCC | Median | Formula |
|---|---|---|---|
| Return on equity | 6.4% | 10.6% | Net income ÷ shareholders’ equity |
| Return on capital employed | 7.3% | 10.0% | Operating income ÷ (equity + total debt) |
| Owner earnings | $49.63m | $120.90m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $12.72m | $155.08m | Operating cash flow − capital expenditure |
| Operating margin | 2.9% | 14.3% | Operating income ÷ revenue |
| Net margin | 2.1% | 10.1% | Net income ÷ revenue |
| Debt to equity | 0.21x | 0.73x | Total debt ÷ shareholders’ equity |
| Interest cover | 8.39x | 4.22x | Operating income ÷ interest expense |
| Current ratio | 3.36x | 1.55x | Current assets ÷ current liabilities |
| Long-term debt to working capital | 0.38x | 1.88x | Long-term debt ÷ (current assets − current liabilities) |
| Cash conversion | 1.91x | 1.66x | Operating cash flow ÷ net income |
| Accruals | -3.7% | -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 | 6.4% | 17.5% | 22.0% | 41.7% | 52.7% | 20.6% | 11.5% | 3.0% | 12.3% | 6.6% | 12.3% |
| Return on capital employed | 7.3% | 18.9% | 23.6% | 46.3% | 54.1% | 25.9% | 12.0% | 6.5% | 12.7% | 8.3% | 12.7% |
| Operating margin | 2.9% | 7.3% | 9.1% | 13.8% | 12.3% | 6.1% | 2.9% | 1.4% | 3.2% | 2.2% | 3.2% |
| Net margin | 2.1% | 5.6% | 7.1% | 10.2% | 9.0% | 3.2% | 1.7% | 0.4% | 1.9% | 1.0% | 2.1% |
| Debt to equity | 0.21x | 0.21x | 0.20x | 0.22x | 0.33x | 0.52x | 0.63x | 0.65x | 0.65x | 0.75x | 0.33x |
| Current ratio | 3.36x | 3.34x | 3.46x | 3.78x | 2.94x | 2.50x | 2.66x | 2.67x | 2.44x | 2.43x | 2.67x |
| Cash conversion | 1.91x | 1.16x | 1.42x | 1.21x | 0.94x | 1.68x | 3.04x | 7.99x | 1.83x | 3.97x | 1.68x |
How it compares in industrials
Among the 289 industrials companies here measured on free cash flow, Boise Cascade pays out less than 5 of them. The median for that group is 24.4%, against this company’s 272.3%.
Closest on free cash flow
- Ashland (ASH) 211.1%
- Vestis (VSTS) 239.6%
- Concrete Pumping Holdings (BBCP) 303.1%
- Wesco International (WCC) 350.8%
Same sector and same denominator, so the figures are comparable. All 348 in industrials →