The business behind the dividend
| Measure | CULL | Median | Formula |
|---|---|---|---|
| Return on equity | 3.9% | 10.6% | Net income ÷ shareholders’ equity |
| Return on capital employed | — | — | Operating income ÷ (equity + total debt) |
| Owner earnings | $792.00k | $120.90m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $2.23m | $155.08m | Operating cash flow − capital expenditure |
| Operating margin | 26.0% | 14.3% | Operating income ÷ revenue |
| Net margin | 20.3% | 10.1% | Net income ÷ revenue |
| Debt to equity | — | — | Total debt ÷ shareholders’ equity |
| Interest cover | — | — | Operating income ÷ interest expense |
| Current ratio | — | — | Current assets ÷ current liabilities |
| Long-term debt to working capital | — | — | Long-term debt ÷ (current assets − current liabilities) |
| Cash conversion | — | — | Operating cash flow ÷ net income |
| Accruals | -0.5% | -3.1% | (Net income − operating cash flow) ÷ total assets |
Not computed here: Cash conversion, Current ratio, 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 | 2023 | 2022 | 2021 | 2020 | Median |
|---|---|---|---|---|---|
| Return on equity | 3.9% | 4.2% | 1.8% | 6.2% | 4.2% |
| Operating margin | 26.0% | 32.0% | 15.7% | 31.8% | 31.8% |
| Net margin | 20.3% | 25.3% | 13.1% | 25.0% | 25.0% |
How it compares in banks & insurers
Among the 377 banks & insurers companies here measured on GAAP earnings, Cullman Bancorp pays out less than 260 of them. The median for that group is 30.6%, against this company’s 22.9%.
Closest on GAAP earnings
- Hawthorn Bancshares (HWBK) 22.8%
- LexinFintech Holdings (LX) 22.8%
- Parke Bancorp (PKBK) 22.8%
- Cincinnati Financial (CINF) 22.9%
Same sector and same denominator, so the figures are comparable. All 377 in banks & insurers →