The business behind the dividend
| Measure | GCBC | Median | Formula |
|---|---|---|---|
| Return on equity | 13.0% | 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 | $27.29m | $155.08m | Operating cash flow − capital expenditure |
| Operating margin | 29.5% | 14.3% | Operating income ÷ revenue |
| Net margin | 26.5% | 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 | 0.1% | -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, 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 | 2018 | 2017 | 2016 | Median |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on equity | 13.0% | 12.0% | 16.8% | 17.7% | 16.0% | 14.5% | 15.6% | 15.0% | 13.4% | 12.1% | 14.5% |
| Operating margin | 29.5% | 25.9% | 42.3% | 51.9% | 47.3% | — | — | — | — | — | 42.3% |
| Net margin | 26.5% | 23.9% | 36.4% | 44.1% | 41.0% | 35.1% | — | — | 33.4% | 31.1% | 35.1% |
How it compares in banks & insurers
Among the 377 banks & insurers companies here measured on GAAP earnings, Greene County Bancorp pays out less than 286 of them. The median for that group is 30.6%, against this company’s 19.7%.
Closest on GAAP earnings
- Assurant (AIZ) 19.4%
- First Business Financial Services (FBIZ) 19.5%
- Hanover Insurance Group (THG) 19.7%
- ServisFirst Bancshares (SFBS) 19.8%
Same sector and same denominator, so the figures are comparable. All 377 in banks & insurers →