The business behind the dividend
| Measure | TCBS | Median | Formula |
|---|---|---|---|
| Return on equity | 5.3% | 10.6% | Net income ÷ shareholders’ equity |
| Return on capital employed | — | — | Operating income ÷ (equity + total debt) |
| Owner earnings | $2.91m | $120.90m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $973.00k | $155.08m | Operating cash flow − capital expenditure |
| Operating margin | 15.0% | 14.3% | Operating income ÷ revenue |
| Net margin | 12.6% | 10.1% | Net income ÷ revenue |
| Debt to equity | — | — | 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 | 0.3% | -3.1% | (Net income − operating cash flow) ÷ total assets |
Not computed here: Cash conversion, Current ratio, 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 | Median |
|---|---|---|---|---|---|---|---|
| Return on equity | 5.3% | -2.5% | -1.4% | 3.1% | 0.9% | 2.3% | 0.9% |
| Operating margin | 15.0% | -7.9% | -4.9% | 17.3% | 5.8% | 8.7% | 5.8% |
| Net margin | 12.6% | -5.8% | -3.9% | 14.0% | 4.9% | 6.9% | 4.9% |
How it compares in banks & insurers
Among the 377 banks & insurers companies here measured on GAAP earnings, Texas Community Bancshares pays out less than 283 of them. The median for that group is 30.6%, against this company’s 20.0%.
Closest on GAAP earnings
- ServisFirst Bancshares (SFBS) 19.8%
- Bank of the James Financial Group (BOTJ) 20.1%
- John Marshall Bancorp (JMSB) 20.1%
- FinVolution Group (FINV) 20.3%
Same sector and same denominator, so the figures are comparable. All 377 in banks & insurers →