The business behind the dividend
| Measure | GSHD | Median | Formula |
|---|---|---|---|
| Return on equity | — | — | Net income ÷ shareholders’ equity |
| Return on capital employed | 37.8% | 10.0% | Operating income ÷ (equity + total debt) |
| Owner earnings | $33.43m | $120.90m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $86.09m | $155.08m | Operating cash flow − capital expenditure |
| Operating margin | 20.4% | 14.3% | Operating income ÷ revenue |
| Net margin | 7.6% | 10.1% | Net income ÷ revenue |
| Debt to equity | — | — | Total debt ÷ shareholders’ equity |
| Interest cover | — | — | Operating income ÷ interest expense |
| Current ratio | 1.60x | 1.55x | Current assets ÷ current liabilities |
| Long-term debt to working capital | 8.29x | 1.88x | Long-term debt ÷ (current assets − current liabilities) |
| Cash conversion | — | — | Operating cash flow ÷ net income |
| Accruals | -15.4% | -3.1% | (Net income − operating cash flow) ÷ total assets |
Not computed here: Cash conversion, Debt to equity, Interest cover, Return on equity — 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 | Median |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on equity | — | 69.3% | 50.6% | 5.3% | — | — | — | — | — | 50.6% |
| Return on capital employed | 37.8% | 44.9% | 31.4% | 9.7% | 8.0% | 25.6% | 37.9% | -34.9% | 101.2% | 31.4% |
| Operating margin | 20.4% | 19.4% | 12.6% | 4.8% | 5.7% | 17.0% | 18.2% | -23.2% | 17.8% | 17.0% |
| Net margin | 7.6% | 9.7% | 5.4% | 0.3% | 3.6% | 7.9% | 4.6% | -14.8% | 20.3% | 5.4% |
| Debt to equity | — | 2.10x | 2.75x | 8.77x | — | — | — | — | — | 2.75x |
| Current ratio | 1.60x | 2.34x | 1.82x | 1.46x | 1.66x | 2.49x | 1.99x | 2.92x | 1.34x | 1.82x |
How it compares in financial services
Among the 52 financial services companies here measured on free cash flow, Goosehead Insurance pays out less than 1 of them. The median for that group is 31.5%, against this company’s 169.3%.
Closest on free cash flow
- Blackstone (BX) 132.2%
- Brookfield Asset Management (BAM) 134.7%
- Artisan Partners Asset Management (APAM) 149.8%
- StepStone Group (STEP) 184.4%
Same sector and same denominator, so the figures are comparable. All 67 in financial services →