The business behind the dividend
| Measure | ORMP | Median | Formula |
|---|---|---|---|
| Return on equity | 32.1% | 10.6% | Net income ÷ shareholders’ equity |
| Return on capital employed | — | — | Operating income ÷ (equity + total debt) |
| Owner earnings | $64.16m | $120.90m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $-9.15m | $155.08m | Operating cash flow − capital expenditure |
| Operating margin | -754.4% | 14.3% | Operating income ÷ revenue |
| Net margin | — | — | Net income ÷ revenue |
| Debt to equity | — | — | Total debt ÷ shareholders’ equity |
| Interest cover | — | — | Operating income ÷ interest expense |
| Current ratio | 6.98x | 1.55x | Current assets ÷ current liabilities |
| Long-term debt to working capital | — | — | Long-term debt ÷ (current assets − current liabilities) |
| Cash conversion | -0.14x | 1.66x | Operating cash flow ÷ net income |
| Accruals | 31.7% | -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 | 32.1% | -13.0% | 3.1% | -24.1% | -19.9% | -35.0% | -74.0% | -40.9% | -54.5% | -41.9% | -35.0% |
| Return on capital employed | — | — | — | -26.7% | — | — | -50.4% | -31.8% | — | — | -31.8% |
| Operating margin | -754.4% | — | — | — | -896.2% | -433.8% | -541.3% | -552.3% | -438.6% | — | -552.3% |
| Net margin | — | — | — | — | -850.5% | -424.8% | -531.1% | -519.7% | -426.7% | — | -519.7% |
| Debt to equity | — | — | — | 0.00x | — | — | 0.50x | 0.37x | — | — | 0.37x |
| Current ratio | 6.98x | 25.19x | 3.06x | 27.34x | 14.27x | 8.93x | 6.28x | 6.82x | 3.93x | 8.62x | 6.98x |
| Cash conversion | -0.14x | — | -2.02x | — | — | — | — | — | — | — | -2.02x |