ICTS INTERNATIONAL N V (ICTSF) — the dividend is covered by nothing
Fiscal year ending 2024-12-31 · sector Industrials · payout ratios computed from SEC filings, not taken from a data vendor.
| Basis | Payout | Why it differs |
|---|---|---|
| GAAP earnings | negative | The company lost $0.11 per share, so there are no earnings to pay a dividend out of and no ratio exists. |
| Operating cash flow | negative | Operations consumed $9.5m of cash rather than producing any, so no ratio exists. |
| Free cash flow | negative | Operating cash flow was $11.4m short of capital spending, so no ratio exists. The dividend was not funded from free cash flow this year. |
Nothing is marked as applying, deliberately — no basis produces a ratio. Earnings, operating cash flow and free cash flow are all negative, so there is no denominator to divide the dividend by. That is not a gap in the data; it is the answer. The dividend was funded from something other than the money the business made this year — borrowing, cash on hand, or asset sales — and the filing will say which.
The arithmetic
- GAAP earnings — dividends declared per share $0.09 ÷ diluted EPS $-0.11
- Operating cash flow — dividends paid $3.2m ÷ operating cash flow $-9.5m
- Free cash flow — dividends paid $3.2m ÷ (operating cash flow $-9.5m − capex $1.9m)
Where the figures came from
- 20-F filed 2026-04-30 · accession
0001178913-26-002313
Every one is public at sec.gov and free to check. That is the point — you should not have to take my word for any of it.
Caveats on this company
- DPS derived from dividends paid ($0.09); no per-share tag filed
Computed by an open pipeline reading SEC XBRL directly. If any number here looks wrong to you, tell me — that is more useful to me than agreement.