Affymax, Inc. Financial Ratios — AFFY Stock

Profitability (USD)

	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	- -	-55.17	-153.69	-154.34	-73.46	-31.06	-18.1	-43.97	-40.36	-8.21	-49.02	-78.76	-22.96
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	- -	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	- -	-27,519.42	100	-14,078.15	-44,972.97	-452.04	-109.44	-105.54	-66.86	-10.87	-124.11	-47.79	-2,724.25
Operating Margin (%)	- -	-27,519.42	100	-14,647.68	-45,958.11	-458.04	-110.83	-107.1	-68.71	-12.84	-128.68	-49.89	-2,776.99
Incremental Operating Margin (%)	- -	- -	23,418.03	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	- -	- -	- -	- -	- -	- -	-85.06	-104.08	-67.84	-12.51	-128.6	-99.01	-1,211.25
Profit Margin (%)	- -	-27,229.13	-12,604.89	-14,170.86	-44,021.62	-411.8	-97.14	-104.42	-66.61	-12.51	-128.6	-98.98	-1,053.62
Net Income to Common Margin (%)	- -	-27,229.13	-12,604.89	-14,240.4	-44,828.38	-418.75	-97.14	-104.42	-66.61	-12.51	-128.6	-98.98	-1,053.62
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	0.49	1.8	1.66	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y
Total Debt	- -	- -	- -	- -	1	- -	- -	- -	9	- -	- -	9	- -
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	9	- -	- -	9	- -
LT Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBITDA	- -	- -	- -	- -	-0.02	-0.01	- -	- -	-0.12	- -	- -	-0.2	- -
Net Debt/EBITDA	- -	- -	- -	0.08	0.43	2.78	2.23	0.27	1.51	5.19	0.92	1.32	0.15
Total Debt/EBIT	- -	- -	- -	- -	-0.02	-0.01	- -	- -	-0.12	- -	- -	-0.19	- -
Net Debt/EBIT	- -	- -	- -	0.07	0.42	2.74	2.2	0.27	1.47	4.4	0.88	1.26	0.15
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	-143.57	-731.68	-87.4	-411.28	-31.27	-23.83
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	-149.78	-738.5	-92.61	-420.06	-34.09	-23.83
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	-145.7	-751.83	-103.2	-426.43	-32.65	-24.29
Interest Expense	- -	- -	- -	- -	- -	- -	- -	1	- -	- -	- -	1	2
Common Equity/Total Assets	-15.82	-103.75	- -	-314.35	-197.61	-67.5	-93.8	-177.86	-177.22	-296	-378.39	-459.9	-7,498.32
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	0.12	0.01	- -	- -	- -	- -	- -	- -
Long-Term Debt/Capital (%)	- -	- -	- -	- -	-0.26	-0.08	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	0.51	0.06	- -	- -	- -	- -	- -	- -	- -
Total Debt/Equity (%)	- -	- -	- -	- -	-0.47	0.37	0.17	0.08	13.74	- -	- -	106.8	- -
Total Debt/Capital (%)	- -	- -	- -	- -	-0.44	-0.26	-0.07	- -	-2.51	- -	- -	-1.65	- -
Total Debt/Total Assets (%)	- -	- -	- -	- -	0.87	0.17	0.06	- -	4.35	- -	- -	7.48	- -
Net Debt to Equity	- -	- -	- -	1.9	12.47	-125.96	-128.39	-267.58	-173.54	-87.53	-71.5	-717.56	391.95
Net Debt/Capital (%)	- -	- -	- -	1.87	10.55	46.62	33.79	7.46	23.65	14.04	10.77	9.85	0.99
EBITDA	2	-28	- -	-21	-33	-53	-49	-87	-77	-12	-59	-45	-37
EBITDA-CapEx	2	-28	- -	-21	-33	-54	-52	-91	-78	-13	-60	-49	-37
Operating Income (Loss)	- -	-28	- -	-22	-34	-54	-49	-89	-79	-14	-61	-47	-38

Liquidity (USD)

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	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y
Cash Ratio	- -	- -	- -	11.52	10.77	18.73	3.02	1.01	1.2	2.04	4.85	0.79	0.63
Current Ratio	- -	- -	- -	11.81	10.9	20.06	3.5	1.36	1.43	2.09	5.3	1.03	0.71
Quick Ratio	- -	- -	- -	11.52	10.77	19.59	3.3	1.28	1.35	2.04	5.19	0.97	0.63
CFO/Avg Current Liab	- -	- -	- -	-18.59	-6.58	7.87	-1.35	-0.84	-0.71	-0.54	-2.12	-0.62	-1.25
Common Equity/Total Assets	-15.82	-103.75	- -	-314.35	-197.61	-67.5	-93.8	-177.86	-177.22	-296	-378.39	-459.9	-7,498.32
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	0.12	0.01	- -	- -	- -	- -	- -	- -
Long-Term Debt/Capital (%)	- -	- -	- -	- -	-0.26	-0.08	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	0.51	0.06	- -	- -	- -	- -	- -	- -	- -
Total Debt/Equity (%)	- -	- -	- -	- -	-0.47	0.37	0.17	0.08	13.74	- -	- -	106.8	- -
Total Debt/Capital (%)	- -	- -	- -	- -	-0.44	-0.26	-0.07	- -	-2.51	- -	- -	-1.65	- -
Total Debt/Total Assets (%)	- -	- -	- -	- -	0.87	0.17	0.06	- -	4.35	- -	- -	7.48	- -
CFO/Total Liabilities	- -	- -	- -	-17.36	-14.18	51.32	-32.16	-39.46	-55.88	-83.67	-167.37	-33.82	-759.09
CFO/CapEx	- -	- -	- -	-148.87	-195	47.04	-12.92	-16.58	-112.86	-67.44	-56.89	-9.15	- -
Altman's Z-Score	-0.22	-3.98	- -	-6.06	-3.56	-0.28	0.32	-2.93	-0.91	-1.52	-2.65	-3.15	-120.09

Working Capital (USD)

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	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y
Accounts Receivable Turnover	- -	- -	- -	- -	- -	- -	- -	7.64	5.71	12.12	- -	- -	- -
Days Sales Outstanding	- -	- -	- -	- -	- -	- -	- -	47.77	63.93	30.1	- -	- -	- -
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y
Market Capitalization	- -	- -	- -	- -	- -	51	334	152	467	163	220	690	29
- Cash & Cash Equivalents	- -	- -	- -	2	14	148	108	24	125	63	54	68	6
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	- -	1	- -	- -	- -	9	- -	- -	9	- -
Enterprise Value	- -	- -	- -	-25	-57	-173	166	57	315	66	122	621	24
Total Capital	-10	-38	- -	-87	-120	-168	-212	-298	-366	-389	-450	-535	-558
Total Debt/Capital (%)	- -	- -	- -	- -	-0.44	-0.26	-0.07	- -	-2.51	- -	- -	-1.65	- -
Total Debt / EV	- -	- -	- -	- -	-0.01	- -	- -	- -	0.03	- -	- -	0.01	- -
EV/Sales	- -	- -	- -	- -	- -	- -	3.74	0.69	2.74	0.58	2.55	6.58	17.25
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	- -	- -	- -	- -	- -	51	334	152	467	163	220	690	29
Diluted Enterprise Value	- -	- -	- -	-2	-14	-96	226	128	351	99	166	631	24
EV per Share	- -	- -	- -	- -	- -	- -	11.1	3.77	16.71	2.69	3.65	17.09	0.63
TTM Sales	- -	- -	- -	- -	- -	12	44	83	115	113	48	94	1
TTM EBITDA	2	-28	- -	-21	-33	-53	-49	-87	-77	-12	-59	-45	-37
TTM Operating Income	- -	-28	- -	-22	-34	-54	-49	-89	-79	-14	-61	-47	-38
TTM Cash Flow to Firm	- -	- -	- -	- -	- -	- -	-46	-62	-81	-49	-72	-36	-66
TTM Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	-42	-58	-80	-48	-71	-32	-66

Multiples (USD)

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	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y
Price/Free Cash Flow	- -	- -	- -	- -	- -	0.74	-7.95	-2.58	-5.83	-3.36	-3.11	-20.84	-0.43
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	- -	- -	- -	-25	-57	-173	166	57	315	66	122	621	24
Low Price	- -	- -	- -	- -	- -	29.3	20.35	8.52	9.71	4.9	3.93	6.35	0.74
EV/Sales	- -	- -	- -	- -	- -	- -	3.74	0.69	2.74	0.58	2.55	6.58	17.25
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	- -	-1.06	-10.35	-2.92	-4.54	-23.61	-3.26	-6.14	-10.02
Price/Earnings High	- -	- -	- -	- -	- -	-1.14	-14.22	-4.06	-6.32	-45.58	-4.61	-10.79	-56.47
Price/Earnings Low	- -	- -	- -	- -	- -	-0.9	-7.06	-1.5	-2.39	-8.53	-2.13	-2.47	-1.92
Price/Book Value	- -	- -	- -	- -	- -	-0.3	-1.58	-0.51	-1.25	-0.42	-0.49	-1.27	-0.05
Price/Book Value Average	- -	- -	- -	- -	- -	-0.31	-2.1	-0.85	-0.93	-0.85	-0.44	-1.06	-0.26
Price/Book Value High	- -	- -	- -	- -	- -	-0.33	-2.89	-1.18	-1.29	-1.65	-0.63	-1.85	-1.46
Price/Book Value Low	- -	- -	- -	- -	- -	-0.26	-1.44	-0.43	-0.49	-0.31	-0.29	-0.42	-0.05
Price/Tangible Book Value	- -	- -	- -	- -	- -	0.44	3.97	16.92	6.98	2.24	2.9	83.34	-20.45
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	0.44	5.29	28.11	5.2	4.58	2.64	69.29	-101.23
Price/Tangible Book Value High	- -	- -	- -	- -	- -	0.48	7.28	39.07	7.23	8.84	3.72	121.74	-570.37
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	0.38	3.61	14.43	2.74	1.65	1.72	27.87	-19.41
Price/Sales	- -	- -	- -	- -	- -	4.38	7.54	1.84	4.06	1.45	4.61	7.31	21.34
Price/Sales Average	- -	- -	- -	- -	- -	4.43	10.05	3.05	3.03	2.95	4.2	6.08	105.59
Price/Sales High	- -	- -	- -	- -	- -	4.78	13.82	4.24	4.21	5.7	5.93	10.68	594.96
Price/Sales Low	- -	- -	- -	- -	- -	3.77	6.86	1.57	1.59	1.07	2.74	2.45	20.24
Price/Cash Flow	- -	- -	- -	- -	- -	0.75	-7.34	-2.43	-5.78	-3.31	-3.06	-18.56	-0.43
Price/Cash Flow Average	- -	- -	- -	- -	- -	0.76	-9.79	-4.03	-4.3	-6.75	-2.78	-15.43	-2.15
Price/Cash Flow High	- -	- -	- -	- -	- -	0.82	-13.45	-5.6	-5.99	-13.03	-3.93	-27.11	-12.1
Price/Cash Flow Low	- -	- -	- -	- -	- -	0.65	-6.68	-2.07	-2.27	-2.44	-1.82	-6.21	-0.41
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	0.74	-10.61	-4.29	-4.34	-6.85	-2.83	-17.33	-2.15
Price/Free Cash Flow High	- -	- -	- -	- -	- -	0.8	-14.58	-5.96	-6.04	-13.23	-4	-30.44	-12.1
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	0.63	-7.24	-2.2	-2.29	-2.47	-1.85	-6.97	-0.41
EV/Sales Average	- -	- -	- -	- -	- -	- -	7.61	2.76	2.01	2.39	3.06	5.45	101.5
EV/Sales High	- -	- -	- -	- -	- -	- -	11.38	3.95	3.2	5.14	4.79	10.05	590.87
EV/Sales Low	- -	- -	- -	- -	- -	- -	4.42	1.28	0.58	0.5	1.6	1.82	16.15
EV/EBITDA Average	- -	- -	- -	0.08	0.42	1.8	-6.96	-2.61	-3.01	-21.97	-2.46	-11.41	-3.73
EV/EBITDA High	- -	- -	- -	0.08	0.42	1.72	-10.4	-3.74	-4.78	-47.24	-3.86	-21.04	-21.69
EV/EBITDA Low	- -	- -	- -	0.08	0.42	1.94	-4.04	-1.21	-0.87	-4.62	-1.29	-3.8	-0.59
EV/EBIT Average	- -	- -	- -	0.07	0.41	1.77	-6.87	-2.58	-2.93	-18.6	-2.38	-10.93	-3.66
EV/EBIT High	- -	- -	- -	0.07	0.41	1.69	-10.27	-3.68	-4.66	-40.01	-3.72	-20.15	-21.28
EV/EBIT Low	- -	- -	- -	0.07	0.41	1.92	-3.99	-1.19	-0.85	-3.91	-1.25	-3.64	-0.58
Last Price	- -	- -	- -	- -	- -	34.04	22.36	9.99	24.74	6.65	6.61	18.99	0.78
High Price	- -	- -	- -	- -	- -	37.2	41	23.06	25.64	26.2	8.5	27.74	21.75
Enterprise Value Average	- -	- -	- -	-2	-14	-95	338	229	231	269	146	514	139
Enterprise Value High	- -	- -	- -	-2	-14	-91	505	327	368	578	229	949	809
Enterprise Value Low	- -	- -	- -	-2	-14	-103	196	106	67	56	76	171	22

	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y
Shares Outstanding	15	15	- -	15	15	15	15	15	24	25	36	37	37
Diluted Weighted Avg Shares	- -	- -	- -	- -	- -	2	15	15	19	24	33	36	37
Basic Weighted Avg Shares	- -	- -	- -	- -	- -	2	15	15	19	24	33	36	37
Revenue per Share	- -	0.39	0.82	0.5	0.23	7.78	2.97	5.44	6.09	4.59	1.43	2.6	0.04
EBITDA per Share	9.62	-106.16	0.82	-69.7	-102.09	-35.15	-3.25	-5.74	-4.07	-0.5	-1.78	-1.24	-1
Operating Income per Share	- -	-106.16	0.82	-72.52	-104.32	-35.62	-3.29	-5.83	-4.18	-0.59	-1.84	-1.3	-1.02
Basic EPS, GAAP	-43.22	-105.04	-103.13	-70.5	-101.76	-32.56	-2.88	-5.68	-4.06	-0.57	-1.84	-2.57	-0.39
Basic EPS from Cont Ops	-43.22	-105.04	-103.13	-70.16	-99.93	-32.02	-2.88	-5.68	-4.06	-0.57	-1.84	-2.57	-0.39
Diluted EPS, GAAP	-43.22	-105.04	-103.13	-70.5	-101.76	-32.56	-2.88	-5.68	-4.06	-0.57	-1.84	-2.57	-0.39
Diluted EPS from Cont Ops	-43.22	-105.04	-103.13	-70.16	-99.93	-32.02	-2.88	-5.68	-4.06	-0.57	-1.84	-2.57	-0.39
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	- -	- -	- -	-65.41	-75.97	45.29	-3.05	-4.12	-4.28	-2.01	-2.16	-1.02	-1.8
Free Cash Flow per Basic Share	- -	- -	- -	-65.85	-76.36	44.33	-3.28	-4.36	-4.32	-2.04	-2.2	-1.13	-1.8
Cash & Equivalents per Share	- -	- -	- -	81.05	177.59	148.73	11.27	6.22	8.51	3.96	2.96	2.15	0.15
Book Value per Share	-43.22	-143.41	- -	-285.78	-369.51	-111.89	-14.18	-19.6	-19.87	-15.88	-13.53	-14.96	-14.9
Tangible Book Value per Share	-38.7	-139.63	- -	-285.78	-348.75	77.52	5.63	0.59	3.55	2.96	2.28	0.23	-0.04

Affymax, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)