The business behind the dividend
| Measure | RPC | Median | Formula |
|---|---|---|---|
| Return on equity | 4.8% | 10.6% | Net income ÷ shareholders’ equity |
| Return on capital employed | 8.4% | 10.0% | Operating income ÷ (equity + total debt) |
| Owner earnings | $16.47m | $120.90m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $18.11m | $155.08m | Operating cash flow − capital expenditure |
| Operating margin | 22.0% | 14.3% | Operating income ÷ revenue |
| Net margin | 6.6% | 10.1% | Net income ÷ revenue |
| Debt to equity | 0.93x | 0.73x | 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 | -0.4% | -3.1% | (Net income − operating cash flow) ÷ total assets |
Not computed here: Cash conversion, Current ratio, Interest cover — 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 | Median |
|---|---|---|---|---|---|---|---|---|
| Return on equity | 4.8% | 4.8% | -1.7% | 6.7% | 2.3% | 38.6% | 33.1% | 4.8% |
| Return on capital employed | 8.4% | 8.6% | 2.9% | 6.0% | 6.6% | 2.5% | — | 6.0% |
| Operating margin | 22.0% | 20.4% | 8.7% | 21.9% | 26.8% | 12.9% | 28.5% | 21.9% |
| Net margin | 6.6% | 6.3% | -3.0% | 14.7% | 6.1% | 34.3% | 26.6% | 6.6% |
| Debt to equity | 0.93x | 0.83x | 0.68x | 0.67x | 0.54x | 4.85x | — | 0.68x |
How it compares in financial services
Among the 52 financial services companies here measured on free cash flow, Ridgepost Capital pays out less than 6 of them. The median for that group is 31.5%, against this company’s 90.2%.
Closest on free cash flow
- TPG (TPG) 73.8%
- Franklin Resources (BEN) 75.0%
- Price T Rowe Group (TROW) 77.3%
- CME Group (CME) 93.8%
Same sector and same denominator, so the figures are comparable. All 67 in financial services →