The business behind the dividend
| Measure | PKOH | Median | Formula |
|---|---|---|---|
| Return on equity | 6.2% | 10.6% | Net income ÷ shareholders’ equity |
| Return on capital employed | 17.0% | 10.0% | Operating income ÷ (equity + total debt) |
| Owner earnings | $16.50m | $120.90m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $2.00m | $155.08m | Operating cash flow − capital expenditure |
| Operating margin | 4.1% | 14.3% | Operating income ÷ revenue |
| Net margin | 1.5% | 10.1% | Net income ÷ revenue |
| Debt to equity | 0.02x | 0.73x | Total debt ÷ shareholders’ equity |
| Interest cover | 1.40x | 4.22x | Operating income ÷ interest expense |
| Current ratio | 2.33x | 1.55x | Current assets ÷ current liabilities |
| Long-term debt to working capital | — | — | Long-term debt ÷ (current assets − current liabilities) |
| Cash conversion | 1.78x | 1.66x | Operating cash flow ÷ net income |
| Accruals | -1.3% | -3.1% | (Net income − operating cash flow) ÷ total assets |
Not computed here: Long-term debt to working capital — 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 | 6.2% | 9.6% | 2.8% | -5.5% | -7.9% | -1.3% | 11.5% | 17.9% | 10.4% | 14.0% | 6.2% |
| Return on capital employed | 17.0% | 25.5% | 29.0% | 12.5% | 5.1% | 2.1% | 9.3% | 11.3% | 10.4% | 9.1% | 10.4% |
| Operating margin | 4.1% | 5.2% | 5.1% | 2.2% | 1.3% | 1.6% | 5.1% | 5.9% | 5.9% | 4.9% | 4.9% |
| Net margin | 1.5% | 1.9% | 0.5% | -1.0% | -1.9% | -0.4% | 2.4% | 3.2% | 2.0% | 2.5% | 1.5% |
| Debt to equity | 0.02x | 0.03x | 0.03x | 0.04x | 0.02x | 1.54x | 1.67x | 1.88x | 1.92x | 2.06x | 0.04x |
| Current ratio | 2.33x | 2.32x | 2.27x | 2.08x | 2.22x | 2.30x | 2.38x | 2.41x | 2.43x | 2.28x | 2.30x |
| Cash conversion | 1.78x | 1.10x | 6.85x | — | — | — | 1.65x | 1.02x | 1.63x | 2.30x | 1.65x |
How it compares in industrials
Among the 289 industrials companies here measured on free cash flow, Park Ohio Holdings pays out less than 1 of them. The median for that group is 24.4%, against this company’s 390.0%.
Closest on free cash flow
- Concrete Pumping Holdings (BBCP) 303.1%
- Wesco International (WCC) 350.8%
- International Seaways (INSW) 365.4%
- Autoscope Technologies (AATC) 406.7%
Same sector and same denominator, so the figures are comparable. All 348 in industrials →