The business behind the dividend
| Measure | SSNC | Median | Formula |
|---|---|---|---|
| Return on equity | 11.6% | 10.6% | Net income ÷ shareholders’ equity |
| Return on capital employed | 10.0% | 10.0% | Operating income ÷ (equity + total debt) |
| Owner earnings | $1.42bn | $120.90m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $1.66bn | $155.08m | Operating cash flow − capital expenditure |
| Operating margin | 22.9% | 14.3% | Operating income ÷ revenue |
| Net margin | 12.7% | 10.1% | Net income ÷ revenue |
| Debt to equity | 1.08x | 0.73x | Total debt ÷ shareholders’ equity |
| Interest cover | 3.31x | 4.22x | Operating income ÷ interest expense |
| Current ratio | 1.07x | 1.55x | Current assets ÷ current liabilities |
| Long-term debt to working capital | 19.68x | 1.88x | Long-term debt ÷ (current assets − current liabilities) |
| Cash conversion | 2.19x | 1.66x | Operating cash flow ÷ net income |
| Accruals | -4.6% | -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 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | Median |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on equity | 11.6% | 11.6% | 9.6% | 10.8% | 13.0% | 10.9% | 8.6% | 2.3% | 12.2% | 5.8% | 10.8% |
| Return on capital employed | 10.0% | 9.9% | 9.3% | 8.7% | 10.3% | 8.1% | 7.5% | 3.3% | 8.4% | 6.1% | 8.4% |
| Operating margin | 22.9% | 22.8% | 22.0% | 21.6% | 24.6% | 21.1% | 19.7% | 12.5% | 23.7% | 19.5% | 21.6% |
| Net margin | 12.7% | 12.9% | 11.0% | 12.3% | 15.8% | 13.4% | 9.5% | 3.0% | 19.6% | 8.8% | 12.3% |
| Debt to equity | 1.08x | 1.07x | 1.06x | 1.17x | 0.96x | 1.13x | 1.40x | 1.80x | 0.76x | 1.11x | 1.08x |
| Current ratio | 1.07x | 1.12x | 1.07x | 1.11x | 1.10x | 1.01x | 1.00x | 1.07x | 0.81x | 0.74x | 1.07x |
| Cash conversion | 2.19x | 1.83x | 2.00x | 1.74x | 1.79x | 1.89x | 3.03x | 6.20x | 1.43x | 3.19x | 1.89x |
How it compares in technology
Among the 101 technology companies here measured on free cash flow, SS&C Technologies Holdings pays out less than 73 of them. The median for that group is 27.8%, against this company’s 15.3%.
Closest on free cash flow
- Marvell Technology (MRVL) 14.7%
- Atkore (ATKR) 15.0%
- Apple (AAPL) 15.6%
- Espey Mfg & Electronics (ESP) 15.6%
Same sector and same denominator, so the figures are comparable. All 115 in technology →