The business behind the dividend
| Measure | TFX | Median | Formula |
|---|---|---|---|
| Return on equity | -29.0% | 10.6% | Net income ÷ shareholders’ equity |
| Return on capital employed | 2.1% | 10.0% | Operating income ÷ (equity + total debt) |
| Owner earnings | $-823.14m | $120.90m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $1.45m | $155.08m | Operating cash flow − capital expenditure |
| Operating margin | 5.9% | 14.3% | Operating income ÷ revenue |
| Net margin | -45.4% | 10.1% | Net income ÷ revenue |
| Debt to equity | 0.85x | 0.73x | Total debt ÷ shareholders’ equity |
| Interest cover | 1.18x | 4.22x | Operating income ÷ interest expense |
| Current ratio | 2.54x | 1.55x | Current assets ÷ current liabilities |
| Long-term debt to working capital | 2.16x | 1.88x | Long-term debt ÷ (current assets − current liabilities) |
| Cash conversion | — | — | Operating cash flow ÷ net income |
| Accruals | -14.4% | -3.1% | (Net income − operating cash flow) ÷ total assets |
Not computed here: Cash conversion — 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 | -29.0% | 1.6% | 8.0% | 9.0% | 12.9% | 10.1% | 15.5% | 7.9% | 6.3% | 11.1% | 8.0% |
| Return on capital employed | 2.1% | 1.7% | 4.1% | 8.7% | 11.2% | 7.3% | 8.7% | 6.8% | 8.0% | 10.1% | 7.3% |
| Operating margin | 5.9% | 6.1% | 15.1% | 17.9% | 22.4% | 16.7% | 16.5% | 13.1% | 17.3% | 17.1% | 16.5% |
| Net margin | -45.4% | 4.1% | 20.8% | 13.0% | 17.3% | 13.2% | 17.8% | 8.2% | 7.1% | 12.7% | 12.7% |
| Debt to equity | 0.85x | 0.39x | 0.41x | 0.43x | 0.49x | 0.74x | 0.64x | 0.85x | 0.93x | 0.48x | 0.49x |
| Current ratio | 2.54x | 2.27x | 2.32x | 2.43x | 2.10x | 2.63x | 2.32x | 2.12x | 2.33x | 2.77x | 2.32x |
| Cash conversion | — | 4.33x | 0.58x | 0.94x | 1.34x | 1.30x | 0.95x | 2.17x | 2.79x | 1.73x | 1.34x |
How it compares in health care
Among the 5 health care companies here measured on operating cash flow, Teleflex pays out less than 0 of them. The median for that group is 16.8%, against this company’s 62.3%.
Closest on operating cash flow
- Ensign Group (ENSG) 2.6%
- Royalty Pharma (RPRX) 15.2%
- Cigna Group (CI) 16.8%
- Cronos Group (CRON) 24.8%
Same sector and same denominator, so the figures are comparable. All 76 in health care →