The business behind the dividend
| Measure | WCC | Median | Formula |
|---|---|---|---|
| Return on equity | 12.7% | 10.6% | Net income ÷ shareholders’ equity |
| Return on capital employed | 11.4% | 10.0% | Operating income ÷ (equity + total debt) |
| Owner earnings | $738.00m | $120.90m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $25.20m | $155.08m | Operating cash flow − capital expenditure |
| Operating margin | 5.2% | 14.3% | Operating income ÷ revenue |
| Net margin | 2.7% | 10.1% | Net income ÷ revenue |
| Debt to equity | 1.15x | 0.73x | Total debt ÷ shareholders’ equity |
| Interest cover | 3.45x | 4.22x | Operating income ÷ interest expense |
| Current ratio | 2.20x | 1.55x | Current assets ÷ current liabilities |
| Long-term debt to working capital | 1.12x | 1.88x | Long-term debt ÷ (current assets − current liabilities) |
| Cash conversion | 0.20x | 1.66x | Operating cash flow ÷ net income |
| Accruals | 3.1% | -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 | 12.7% | 14.4% | 15.2% | 19.3% | 12.3% | 3.0% | 9.9% | 10.6% | 7.7% | 5.2% | 10.6% |
| Return on capital employed | 11.4% | 12.2% | 13.6% | 14.6% | 9.4% | 4.2% | 9.8% | 10.6% | 9.3% | 9.9% | 9.9% |
| Operating margin | 5.2% | 5.6% | 6.3% | 6.7% | 4.4% | 2.8% | 4.1% | 4.3% | 4.2% | 4.5% | 4.4% |
| Net margin | 2.7% | 3.3% | 3.4% | 4.0% | 2.6% | 0.8% | 2.7% | 2.8% | 2.1% | 1.4% | 2.7% |
| Debt to equity | 1.15x | 1.02x | 1.06x | 1.22x | 1.25x | 1.47x | 0.57x | 0.56x | 0.62x | 0.69x | 1.02x |
| Current ratio | 2.20x | 2.20x | 2.48x | 2.18x | 2.08x | 1.84x | 2.34x | 2.25x | 2.31x | 2.41x | 2.20x |
| Cash conversion | 0.20x | 1.53x | 0.64x | 0.01x | 0.14x | 5.41x | 1.00x | 1.31x | 0.91x | 2.96x | 0.91x |
How it compares in industrials
Among the 289 industrials companies here measured on free cash flow, Wesco International pays out less than 3 of them. The median for that group is 24.4%, against this company’s 350.8%.
Closest on free cash flow
- Concrete Pumping Holdings (BBCP) 303.1%
- International Seaways (INSW) 365.4%
- Park Ohio Holdings (PKOH) 390.0%
- Autoscope Technologies (AATC) 406.7%
Same sector and same denominator, so the figures are comparable. All 348 in industrials →