The business behind the dividend
| Measure | CHD | Median | Formula |
|---|---|---|---|
| Return on equity | 18.4% | 11.7% | Net income ÷ shareholders’ equity |
| Return on capital employed | 17.4% | 10.1% | Operating income ÷ (equity + total debt) |
| Owner earnings | $861.80m | $632.00m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $1.09bn | $746.10m | Operating cash flow − capital expenditure |
| Operating margin | 17.4% | 15.0% | Operating income ÷ revenue |
| Net margin | 11.9% | 10.2% | Net income ÷ revenue |
| Debt to equity | 0.55x | 0.79x | Total debt ÷ shareholders’ equity |
| Interest cover | 11.32x | 4.43x | Operating income ÷ interest expense |
| Current ratio | 1.07x | 1.25x | Current assets ÷ current liabilities |
| Long-term debt to working capital | 22.21x | 2.30x | Long-term debt ÷ (current assets − current liabilities) |
| Cash conversion | 1.65x | 1.78x | Operating cash flow ÷ net income |
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 | 18.4% | 13.4% | 19.6% | 11.9% | 25.6% | 26.0% | 23.1% | 23.2% | 33.5% | 23.2% | 23.1% |
| Return on capital employed | 17.4% | 12.3% | 16.9% | 9.8% | 17.6% | 21.3% | 18.8% | 17.4% | 17.0% | 27.1% | 17.4% |
| Operating margin | 17.4% | 13.2% | 18.0% | 11.1% | 20.8% | 21.0% | 19.3% | 19.1% | 19.4% | 20.7% | 19.1% |
| Net margin | 11.9% | 9.6% | 12.9% | 7.7% | 15.9% | 16.1% | 14.1% | 13.7% | 19.7% | 13.1% | 13.1% |
| Debt to equity | 0.55x | 0.51x | 0.62x | 0.74x | 0.90x | 0.60x | 0.68x | 0.86x | 0.95x | 0.35x | 0.62x |
| Current ratio | 1.07x | 1.70x | 1.08x | 1.18x | 0.59x | 0.80x | 0.88x | 0.81x | 1.07x | 0.76x | 0.88x |
| Cash conversion | 1.65x | 1.98x | 1.36x | 2.14x | 1.20x | 1.26x | 1.40x | 1.34x | 0.92x | 1.43x | 1.36x |
How it compares in consumer staples
Among the 38 consumer staples companies here measured on free cash flow, Church & Dwight pays out less than 34 of them. The median for that group is 65.1%, against this company’s 26.3%.
Closest on free cash flow
- Archer-Daniels-Midland (ADM) 23.5%
- Kroger (KR) 25.6%
- Ingles Markets (IMKTA) 31.0%
- Del Monte (DMC) 31.7%
Same sector and same denominator, so the figures are comparable. All 43 in consumer staples →