The business behind the dividend
| Measure | SCHL | Median | Formula |
|---|---|---|---|
| Return on equity | 7.6% | 10.6% | Net income ÷ shareholders’ equity |
| Return on capital employed | 1.8% | 10.0% | Operating income ÷ (equity + total debt) |
| Owner earnings | $55.80m | $120.90m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $2.50m | $155.08m | Operating cash flow − capital expenditure |
| Operating margin | 1.0% | 14.3% | Operating income ÷ revenue |
| Net margin | 3.6% | 10.1% | Net income ÷ revenue |
| Debt to equity | 0.10x | 0.73x | Total debt ÷ shareholders’ equity |
| Interest cover | 1.08x | 4.22x | Operating income ÷ interest expense |
| Current ratio | 1.23x | 1.55x | Current assets ÷ current liabilities |
| Long-term debt to working capital | 0.55x | 1.88x | Long-term debt ÷ (current assets − current liabilities) |
| Cash conversion | 0.90x | 1.66x | Operating cash flow ÷ net income |
| Accruals | 0.3% | -3.1% | (Net income − operating cash flow) ÷ total assets |
Ten years of it
The same measures, for every year the filings support. One year is a fact; a row is a business.
| Measure | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | Median |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on equity | 7.6% | -0.2% | 1.2% | 7.4% | 6.6% | -0.9% | -3.7% | 1.2% | -0.4% | 4.0% | 1.2% |
| Return on capital employed | 1.8% | 1.3% | 1.4% | 9.1% | 8.0% | -1.9% | -6.4% | 2.0% | 4.2% | 6.8% | 1.8% |
| Operating margin | 1.0% | 1.0% | 0.9% | 6.2% | 5.9% | -1.7% | -6.0% | 1.5% | 3.4% | 5.1% | 1.0% |
| Net margin | 3.6% | -0.1% | 0.8% | 5.1% | 4.9% | -0.8% | -2.9% | 0.9% | -0.3% | 3.0% | 0.8% |
| Debt to equity | 0.10x | 0.26x | 0.01x | 0.01x | 0.01x | 0.01x | 0.18x | 0.01x | 0.01x | 0.00x | 0.01x |
| Current ratio | 1.23x | 1.16x | 1.27x | 1.48x | 1.61x | 1.48x | 2.06x | 1.77x | 2.15x | 2.51x | 1.48x |
| Cash conversion | 0.90x | — | 12.78x | 1.73x | 2.79x | — | — | 7.46x | — | 2.70x | 2.70x |