The business behind the dividend
| Measure | MNDO | Median | Formula |
|---|---|---|---|
| Return on equity | 11.3% | 10.6% | Net income ÷ shareholders’ equity |
| Return on capital employed | — | — | Operating income ÷ (equity + total debt) |
| Owner earnings | $2.85m | $120.90m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $3.96m | $155.08m | Operating cash flow − capital expenditure |
| Operating margin | 10.7% | 14.3% | Operating income ÷ revenue |
| Net margin | 13.4% | 10.1% | Net income ÷ revenue |
| Debt to equity | — | — | Total debt ÷ shareholders’ equity |
| Interest cover | — | — | Operating income ÷ interest expense |
| Current ratio | 3.83x | 1.55x | Current assets ÷ current liabilities |
| Long-term debt to working capital | — | — | Long-term debt ÷ (current assets − current liabilities) |
| Cash conversion | 1.53x | 1.66x | Operating cash flow ÷ net income |
| Accruals | -4.6% | -3.1% | (Net income − operating cash flow) ÷ total assets |
Not computed here: 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 | 11.3% | 19.1% | 21.1% | 22.2% | 25.1% | 23.3% | 23.1% | 24.5% | 26.7% | 19.7% | 22.2% |
| Operating margin | 10.7% | 20.4% | 22.0% | 25.6% | 25.9% | 23.4% | 22.2% | 29.5% | 25.9% | 28.8% | 23.4% |
| Net margin | 13.4% | 21.6% | 23.9% | 24.5% | 22.6% | 23.0% | 22.3% | 28.3% | 31.1% | 23.3% | 23.0% |
| Current ratio | 3.83x | 5.78x | 4.41x | 3.92x | 3.64x | 3.49x | 3.14x | 5.44x | 4.31x | 3.84x | 3.84x |
| Cash conversion | 1.53x | 0.89x | 0.79x | 0.86x | 1.16x | 1.21x | 1.32x | 0.87x | 0.49x | 1.25x | 0.89x |
How it compares in technology
Among the 101 technology companies here measured on free cash flow, Mind Cti pays out less than 9 of them. The median for that group is 27.8%, against this company’s 113.7%.
Closest on free cash flow
- JOYY (JOYY) 97.7%
- George Risk Industries (RSKIA) 104.0%
- Hewlett Packard Enterprise (HPE) 109.1%
- Microchip Technology (MCHP) 115.6%
Same sector and same denominator, so the figures are comparable. All 115 in technology →