The business behind the dividend
| Measure | ESQ | Median | Formula |
|---|---|---|---|
| Return on equity | 17.5% | 10.6% | Net income ÷ shareholders’ equity |
| Return on capital employed | — | — | Operating income ÷ (equity + total debt) |
| Owner earnings | $48.88m | $120.90m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $56.68m | $155.08m | Operating cash flow − capital expenditure |
| Operating margin | 47.1% | 14.3% | Operating income ÷ revenue |
| Net margin | 36.5% | 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 | -0.4% | -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 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | Median |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on equity | 17.5% | 18.4% | 20.7% | 18.1% | 12.5% | 10.0% | 12.7% | 9.4% | 4.4% | 5.4% | 12.5% |
| Operating margin | 47.1% | 52.3% | 60.8% | 63.6% | 51.0% | 44.4% | 52.2% | 41.2% | 34.5% | 28.4% | 47.1% |
| Net margin | 36.5% | 38.5% | 44.6% | 46.8% | 40.3% | 32.7% | 38.6% | 30.2% | 17.9% | 17.5% | 36.5% |
How it compares in banks & insurers
Among the 377 banks & insurers companies here measured on GAAP earnings, Esquire Financial Holdings pays out less than 342 of them. The median for that group is 30.6%, against this company’s 11.9%.
Closest on GAAP earnings
- Orix (IX) 11.9%
- Pinnacle Financial Partners (PNFP) 11.9%
- Universal Insurance Holdings (UVE) 12.2%
- Synchrony Financial (SYF) 12.4%
Same sector and same denominator, so the figures are comparable. All 377 in banks & insurers →