NAPCO SECURITY TECHNOLOGIES, INC (NSSC) — payout ratio, three ways
Fiscal year ending 2025-06-30 · sector Technology · computed from SEC filings, not taken from a data vendor.
| Basis | Payout | Why it differs |
|---|---|---|
| GAAP earnings | 43.7% | The figure most screeners publish. |
| Operating cash flow | 25.5% | Before capital spending, so it understates the payout that free cash flow shows. |
| Free cash flow | 26.5% | What is left after maintaining the business. |
Spread between highest and lowest: 18 percentage points. Same filings, different denominators.
The arithmetic
- GAAP earnings — dividends declared per share $0.52 ÷ diluted EPS $1.19
- Operating cash flow — dividends paid $13.6m ÷ operating cash flow $53.5m
- Free cash flow — dividends paid $13.6m ÷ (operating cash flow $53.5m − capex $2.1m)
Where the figures came from
- 10-K filed 2025-08-25 · accession
0001558370-25-011750
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 $0.52 filed as declared, but dividends paid imply $0.37 — one of the two underlying facts is wrong. The filed per-share figure is used.
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.