The business behind the dividend
| Measure | SIDU | Median | Formula |
|---|---|---|---|
| Return on equity | -200.9% | 11.7% | Net income ÷ shareholders’ equity |
| Return on capital employed | — | — | Operating income ÷ (equity + total debt) |
| Owner earnings | $-21.32m | $632.00m | Net income + depreciation & amortisation − capital expenditure |
| Free cash flow | $-18.96m | $746.10m | Operating cash flow − capital expenditure |
| Operating margin | -250.0% | 15.0% | Operating income ÷ revenue |
| Net margin | -286.0% | 10.2% | Net income ÷ revenue |
| Debt to equity | — | — | Total debt ÷ shareholders’ equity |
| Interest cover | -16.76x | 4.43x | Operating income ÷ interest expense |
| Current ratio | 0.75x | 1.25x | Current assets ÷ current liabilities |
| Long-term debt to working capital | — | — | Long-term debt ÷ (current assets − current liabilities) |
| Cash conversion | — | — | Operating cash flow ÷ net income |
Not computed here: Cash conversion, Debt to equity, Long-term debt to working capital, 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 | -58.2% | -74.5% | -200.9% | -331.3% | -35.1% | — | -74.5% |
| Return on capital employed | — | — | — | — | -29.3% | — | -29.3% |
| Operating margin | — | -405.8% | -250.0% | -192.7% | -445.1% | -94.0% | -250.0% |
| Net margin | — | -452.4% | -286.0% | -205.4% | -474.6% | -94.6% | -286.0% |
| Debt to equity | — | — | — | — | 0.13x | — | 0.13x |
| Current ratio | 3.37x | 1.57x | 0.75x | 1.17x | 4.20x | 0.07x | 1.17x |