← Capital Clean Energy Carriers
The business behind the dividend
| Measure | CCEC | Median | Formula |
|---|---|---|---|
| Return on equity | 11.4% | 10.6% | Net income ÷ shareholders’ equity |
| Return on capital employed | 5.6% | 10.0% | Operating income ÷ (equity + total debt) |
| Owner earnings | $-57.15m | $120.90m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $-82.30m | $155.08m | Operating cash flow − capital expenditure |
| Operating margin | — | — | Operating income ÷ revenue |
| Net margin | — | — | Net income ÷ revenue |
| Debt to equity | 1.57x | 0.73x | Total debt ÷ shareholders’ equity |
| Interest cover | 2.16x | 4.22x | Operating income ÷ interest expense |
| Current ratio | 1.38x | 1.55x | Current assets ÷ current liabilities |
| Long-term debt to working capital | 19.16x | 1.88x | Long-term debt ÷ (current assets − current liabilities) |
| Cash conversion | 1.36x | 1.66x | Operating cash flow ÷ net income |
| Accruals | -1.5% | -3.1% | (Net income − operating cash flow) ÷ total assets |
Not computed here: Net margin, Operating margin — 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 | 2018 | 2017 | 2016 | 2015 | Median |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on equity | 11.4% | 14.4% | 4.0% | 19.6% | 18.7% | 7.2% | -0.0% | 4.1% | 5.7% | 5.9% | 5.9% |
| Return on capital employed | 5.6% | 4.8% | 3.2% | 6.9% | 6.4% | 5.9% | 0.9% | 2.5% | 4.9% | 4.9% | 4.9% |
| Operating margin | — | — | — | 44.7% | 63.9% | 33.5% | 8.9% | 29.7% | 31.3% | 33.5% | 33.5% |
| Net margin | — | — | — | 41.9% | 53.2% | 21.6% | -0.1% | 33.0% | 21.7% | 25.1% | 25.1% |
| Debt to equity | 1.57x | 1.78x | 1.43x | 2.02x | 2.49x | 0.89x | 0.33x | 0.49x | 0.65x | 0.61x | 0.89x |
| Current ratio | 1.38x | 1.67x | 1.23x | 1.40x | 0.29x | 0.94x | 0.56x | 0.86x | 1.28x | 1.63x | 1.23x |
| Cash conversion | 1.36x | 0.95x | 4.01x | 1.38x | 1.13x | 2.66x | — | 3.30x | 2.95x | 2.42x | 2.42x |