ABSTRACT The solar cycle is generated by a magnetohydrodynamic dynamo mechanism which involves the induction and recycling of the toroidal and poloidal components of the Sun’s magnetic field. Recent observations indicate that the Babcock–Leighton (BL) mechanism – mediated via the emergence and evolution of tilted bipolar active regions – is the primary contributor to the Sun’s large-scale dipolar field. Surface flux transport models and dynamo models have been employed to simulate this mechanism, which also allows for physics-based solar cycle forecasts. Recently, an alternative analytic method has been proposed to quantify the contribution of individual active regions to the Sun’s dipole moment (DM). Utilizing solar cycle observations spanning a century, here, we test the efficacy of this algebraic approach. Our results demonstrate that the algebraic quantification approach is reasonably successful in estimating DMs at solar minima over the past century – providing a verification of the BL mechanism as the primary contributor to the Sun’s dipole field variations. We highlight that this algebraic methodology serves as an independent approach for estimating DMs at the minima of solar cycles, relying on characteristics of bipolar solar active regions. We also show how this method may be utilized for solar cycle predictions; our estimate of the Sun’s dipole field at the end of cycle 24 using this approach indicates that solar cycle 25 would be a moderately weak cycle, ranging between solar cycle 20 and cycle 24.