The business behind the dividend
| Measure | CRCT | Median | Formula |
|---|---|---|---|
| Return on equity | 22.3% | 10.6% | Net income ÷ shareholders’ equity |
| Return on capital employed | — | — | Operating income ÷ (equity + total debt) |
| Owner earnings | — | — | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | — | — | Operating cash flow − capital expenditure |
| Operating margin | 13.5% | 14.3% | Operating income ÷ revenue |
| Net margin | 10.8% | 10.1% | Net income ÷ revenue |
| Debt to equity | — | — | Total debt ÷ shareholders’ equity |
| Interest cover | 169.37x | 4.22x | Operating income ÷ interest expense |
| Current ratio | 2.26x | 1.55x | Current assets ÷ current liabilities |
| Long-term debt to working capital | — | — | Long-term debt ÷ (current assets − current liabilities) |
| Cash conversion | 2.61x | 1.66x | Operating cash flow ÷ net income |
| Accruals | -21.3% | -3.1% | (Net income − operating cash flow) ÷ total assets |
Not computed here: Debt to equity, Long-term debt to working capital, Free cash flow, Owner earnings, 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 | Median |
|---|---|---|---|---|---|---|---|---|
| Return on equity | 22.3% | 13.5% | 10.0% | 9.0% | 20.8% | 67.5% | 32.4% | 20.8% |
| Operating margin | 13.5% | 10.7% | 9.1% | 9.0% | 14.7% | 20.9% | 11.0% | 11.0% |
| Net margin | 10.8% | 8.8% | 7.0% | 6.8% | 10.8% | 16.1% | 8.1% | 8.8% |
| Current ratio | 2.26x | 2.85x | 3.16x | 3.19x | 3.01x | 1.55x | — | 2.85x |
| Cash conversion | 2.61x | 4.22x | 5.37x | 1.94x | -0.75x | 1.61x | 0.10x | 1.94x |
How it compares in industrials
Among the 16 industrials companies here measured on operating cash flow, Cricut pays out less than 2 of them. The median for that group is 28.0%, against this company’s 100.9%.
Closest on operating cash flow
- Alibaba Group Holding (BABA) 44.3%
- SFL (SFL) 46.8%
- Dorian LPG (LPG) 50.0%
- Himalaya Shipping (HSHP) 52.0%
Same sector and same denominator, so the figures are comparable. All 348 in industrials →