The business behind the dividend
| Measure | JCAP | Median | Formula |
|---|---|---|---|
| Return on equity | 39.5% | 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 | 51.6% | 14.3% | Operating income ÷ revenue |
| Net margin | 30.6% | 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 | -3.9% | -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, Free cash flow, 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 | Median |
|---|---|---|---|---|
| Return on equity | 39.5% | 33.7% | 36.7% | 36.7% |
| Operating margin | 51.6% | 50.8% | 50.8% | 50.8% |
| Net margin | 30.6% | 29.7% | 34.5% | 30.6% |
How it compares in banks & insurers
Among the 377 banks & insurers companies here measured on GAAP earnings, Jefferson Capital Inc. / DE pays out less than 310 of them. The median for that group is 30.6%, against this company’s 17.4%.
Closest on GAAP earnings
- Orange County Bancorp (OBT) 17.1%
- UMB Financial (UMBF) 17.5%
- Wintrust Financial (WTFC) 17.5%
- Tri-County Financial Group (TYFG) 17.6%
Same sector and same denominator, so the figures are comparable. All 377 in banks & insurers →