Airgain, Inc. Financial Ratios — AIRG Stock

Profitability (USD)

	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	- -	- -	2.5	-5.66	1.99	-6.86	-21.95	-20.62	-34.89	-27.85	-21.69
Return on Assets (%)	- -	-2.25	10.47	2.03	-4.73	1.72	-5.98	-16.63	-14.34	-25.72	-19.16	-13.7
Return on Capital (%)	- -	- -	13.73	2.57	- -	1.99	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	12.09	1.97	- -	0.69	- -	- -	- -	- -	- -	- -
Gross Margin (%)	44.6	41.9	44.38	47.05	43.73	45.43	46.57	38.29	36.86	37.05	40.93	43.54
EBITDA Margin (%)	7.64	1.34	9.95	4.01	-3.5	2.74	-4.31	-10.17	-6.43	-15.65	-8.61	-9.24
Operating Margin (%)	6.18	-0.36	7.95	1.96	-5.59	0.68	-6.56	-15.69	-11.31	-22.13	-14.73	-16.38
Incremental Operating Margin (%)	- -	- -	22.72	-40.79	- -	-77.08	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	14.09	-0.97	8.62	2.36	-4.1	1.95	-6.2	-18.88	-11.3	-21.95	-14.59	-12.27
Profit Margin (%)	14.07	-0.97	8.6	2.3	-4.26	1.66	-6.76	-15.69	-11.41	-22.18	-14.34	-12.41
Net Income to Common Margin (%)	4.53	-9.77	5.06	2.3	-4.26	1.66	-6.76	-15.69	-11.41	-22.18	-14.34	-12.41
Effective Tax Rate (%)	0.17	- -	0.22	2.23	- -	14.97	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	-210.28	90.04	-69.97	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	2.5	-5.66	1.99	-6.86	-21.95	-20.62	-34.89	-27.85	-21.69

Credit (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	1	5	3	2	- -	- -	- -	3	2	2	4	5
ST Debt	- -	2	1	1	- -	- -	- -	1	1	1	- -	1
LT Debt	1	3	2	- -	- -	- -	- -	2	2	1	4	4
Total Debt/EBITDA	0.69	13.43	0.75	0.88	-0.14	0.06	-0.15	-0.47	-0.5	-0.18	-0.75	-0.98
Net Debt/EBITDA	-1.52	-2.66	-9.82	-6.89	6.42	-8.64	18.25	2.22	2.44	0.9	1.63	1.54
Total Debt/EBIT	0.86	-49.2	0.94	1.81	-0.09	0.25	-0.1	-0.3	-0.28	-0.12	-0.44	-0.55
Net Debt/EBIT	-1.88	9.76	-12.29	-14.13	4.02	-34.73	11.99	1.44	1.39	0.64	0.95	0.87
EBITDA to Interest Expense	45.66	9.4	24.22	20.06	-68.45	305.6	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	22.59	6.04	22.68	17.4	-100.39	62.8	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	36.95	-2.57	19.35	9.79	-109.23	76	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-499.7	-297.38	80.32	82.11	85.33	87.53	86.92	66.54	73.21	74.39	63.93	62.4
Long-Term Debt/Equity (%)	32.64	88.8	3.96	0.72	0.47	0.02	0.57	5.03	3.86	2.15	12.3	13.72
Long-Term Debt/Capital (%)	22.63	37.79	3.7	0.7	0.46	0.02	0.56	4.7	3.63	2.05	10.93	11.76
Long-Term Debt/Total Assets (%)	11.42	21.5	3.18	0.59	0.4	0.02	0.49	3.35	2.82	1.6	7.86	8.56
Total Debt/Equity (%)	44.25	135	7.23	3.78	0.65	0.2	0.65	6.93	6.13	4.9	12.59	16.62
Total Debt/Capital (%)	30.68	57.45	6.74	3.65	0.64	0.2	0.65	6.48	5.77	4.67	11.18	14.25
Total Debt/Total Assets (%)	15.48	32.68	5.81	3.11	0.55	0.18	0.56	4.61	4.49	3.64	8.05	10.37
Net Debt to Equity	-97.26	-26.77	-94.24	-29.62	-30.17	-27.55	-79.96	-32.85	-29.89	-25.09	-27.48	-26.01
Net Debt/Capital (%)	-364.5	-29.57	-1,357.57	-41.56	-42.81	-37.92	-386.41	-44.34	-39.2	-31.43	-32.29	-28.71
EBITDA	2	- -	4	2	-2	2	-2	-7	-5	-9	-5	-5
EBITDA-CapEx	1	- -	4	2	-3	- -	-3	-7	-6	-9	-5	-5
Operating Income (Loss)	2	- -	3	1	-3	- -	-3	-10	-9	-12	-9	-8

Liquidity (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.93	0.7	4.89	3.73	4.5	5.16	5.57	0.73	0.92	0.79	0.63	0.57
Current Ratio	1.88	1.24	5.5	4.74	5.74	6.67	6.63	1.78	2.1	1.91	1.91	1.98
Quick Ratio	1.83	1.2	5.45	4.6	5.43	6.29	6.27	1.27	1.6	1.53	1.49	1.55
CFO/Avg Current Liab	- -	0.32	0.56	-0.03	0.16	0.33	0.54	-0.84	0.27	-0.29	-0.3	-0.08
Common Equity/Total Assets	-499.7	-297.38	80.32	82.11	85.33	87.53	86.92	66.54	73.21	74.39	63.93	62.4
Long-Term Debt/Equity (%)	32.64	88.8	3.96	0.72	0.47	0.02	0.57	5.03	3.86	2.15	12.3	13.72
Long-Term Debt/Capital (%)	22.63	37.79	3.7	0.7	0.46	0.02	0.56	4.7	3.63	2.05	10.93	11.76
Long-Term Debt/Total Assets (%)	11.42	21.5	3.18	0.59	0.4	0.02	0.49	3.35	2.82	1.6	7.86	8.56
Total Debt/Equity (%)	44.25	135	7.23	3.78	0.65	0.2	0.65	6.93	6.13	4.9	12.59	16.62
Total Debt/Capital (%)	30.68	57.45	6.74	3.65	0.64	0.2	0.65	6.48	5.77	4.67	11.18	14.25
Total Debt/Total Assets (%)	15.48	32.68	5.81	3.11	0.55	0.18	0.56	4.61	4.49	3.64	8.05	10.37
CFO/Total Liabilities	29.03	15.98	42.33	-2.53	17.74	34.71	51.55	-50.28	30.5	-30.52	-20.18	-6.53
CFO/CapEx	1.67	13.92	16.94	-0.97	1.39	1.95	5.09	-15.18	5.83	-9.54	-19.81	-2.86
Altman's Z-Score	-3.13	-3.37	8.11	5.86	8.01	9.98	14.9	2.16	1.88	-1.56	0.4	-1.17

Working Capital (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	7.67	9.77	7.3	7.86	7.6	7.8	8.27	7.78	6.95	6.36	4.24
Days Sales Outstanding	- -	47.57	37.34	50.02	46.45	48.03	46.8	44.12	46.89	52.48	57.36	86.16
Inventory Turnover	- -	269.74	181.26	59.03	32.61	23.91	23.46	7.96	7.27	10.64	11.27	7.76
Days Inventory Outstanding	- -	1.35	2.01	6.18	11.19	15.26	15.56	45.85	50.17	34.29	32.4	47.02
Accounts Payable Turnover	- -	6.15	7.09	6.77	8.57	7.59	7.56	11.27	7.21	5.16	4.68	3.08
Accounts Payable Turnover Days	- -	59.31	51.48	53.89	42.6	48.1	48.31	32.39	50.61	70.8	78.05	118.33
Cash Conversion Cycle	- -	-10.39	-12.13	2.31	15.04	15.19	14.05	57.58	46.44	15.97	11.71	14.86
Inventory to Cash Days	- -	46.22	35.33	43.84	35.26	32.76	31.25	-1.73	-3.29	18.19	24.96	39.14
Inventories	- -	- -	- -	1	1	1	1	9	4	2	4	4
Raw Materials	- -	- -	- -	- -	- -	- -	1	8	1	1	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	1	3	2	4	3
Other Inventory	- -	- -	- -	1	1	1	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	134	85	95	103	174	107	67	37	81	49
- Cash & Cash Equivalents	4	5	45	15	14	13	38	15	12	8	9	7
+ Preferred Equity and Hybrid Capital	47	49	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	1	5	3	2	- -	- -	- -	3	2	2	4	5
Enterprise Value	44	49	92	51	62	69	136	96	57	31	77	47
Total Capital	4	9	48	48	45	48	48	47	42	33	35	33
Total Debt/Capital (%)	30.68	57.45	6.74	3.65	0.64	0.2	0.65	6.48	5.77	4.67	11.18	14.25
Total Debt / EV	0.03	0.1	0.04	0.03	- -	- -	- -	0.03	0.04	0.05	0.05	0.1
EV/Sales	1.74	1.75	2.11	1.02	1.02	1.23	2.81	1.49	0.75	0.55	1.27	0.9
EV/EBITDA	22.81	131.2	21.21	25.52	- -	44.96	- -	- -	- -	- -	- -	- -
EV/EBIT	28.18	- -	26.55	52.3	- -	180.8	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	26.29	25.8	18.91	- -	43.75	28.96	36.74	- -	12.84	- -	- -	- -
EV/Free Cash Flow to Firm	16.61	24.11	17.89	483.61	25.7	19.16	30.71	- -	10.96	- -	- -	- -
Diluted Market Cap	- -	- -	67	93	94	108	173	107	66	37	78	48
Diluted Enterprise Value	44	49	25	80	81	95	135	95	57	31	73	45
EV per Share	6.14	6.73	9.88	5.34	6.42	7.1	13.91	9.5	5.58	2.95	6.66	3.84
TTM Sales	26	28	43	50	61	56	49	64	76	56	61	52
TTM EBITDA	2	- -	4	2	-2	2	-2	-7	-5	-9	-5	-5
TTM Operating Income	2	- -	3	1	-3	- -	-3	-10	-9	-12	-9	-8
TTM Cash Flow to Firm	2	2	5	- -	1	2	4	-11	4	-3	-4	-1
TTM Free Cash Flow to Firm	3	2	5	- -	2	4	4	-10	5	-3	-3	-1

Multiples (USD)

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	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	- -	13.59	11,643.17	39.86	30.13	38.98	-10.21	12.74	-12.52	-23.3	-66.4
EV/EBIT	28.18	- -	26.55	52.3	- -	180.8	- -	- -	- -	- -	- -	- -
Enterprise Value	44	49	92	51	62	69	136	96	57	31	77	47
Low Price	- -	- -	7.36	7.31	7.4	8.28	5.63	9.05	5.87	1.63	3.06	3
EV/Sales	1.74	1.75	2.11	1.02	1.02	1.23	2.81	1.49	0.75	0.55	1.27	0.9
EV/EBITDA	22.81	131.2	21.21	25.52	- -	44.96	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	22.11	74.73	- -	111.79	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	23.15	102.92	-37.85	128.41	-32.65	-17.2	-9.8	-4.22	-8.17	-8.48
Price/Earnings High	- -	- -	44.99	151.29	-52.21	180.4	-55.55	-29.3	-13.42	-7.11	-13.15	-15.61
Price/Earnings Low	- -	- -	11.3	60.77	-27.27	86.59	-16.68	-8.99	-6.91	-1.36	-3.89	-5.53
Price/Book Value	- -	- -	2.97	1.84	2.11	2.16	3.64	2.43	1.67	1.19	2.63	1.74
Price/Book Value Average	- -	- -	3.11	2.54	2.18	2.48	2.26	3.96	2.14	1.68	2.39	1.97
Price/Book Value High	- -	- -	6.03	3.73	3.01	3.49	3.84	6.74	2.93	2.83	3.85	3.63
Price/Book Value Low	- -	- -	1.52	1.5	1.57	1.67	1.15	2.07	1.51	0.54	1.14	1.29
Price/Tangible Book Value	- -	- -	3.28	2.28	2.57	2.56	4.26	5.62	3.74	3.02	5.68	3.36
Price/Tangible Book Value Average	- -	- -	3.44	3.14	2.67	2.94	2.64	9.15	4.79	4.29	5.17	3.81
Price/Tangible Book Value High	- -	- -	6.68	4.61	3.68	4.13	4.49	15.6	6.56	7.21	8.32	7.01
Price/Tangible Book Value Low	- -	- -	1.68	1.85	1.92	1.98	1.35	4.78	3.38	1.38	2.46	2.48
Price/Sales	- -	- -	1.12	1.72	1.56	1.86	3.56	1.66	0.87	0.66	1.29	0.93
Price/Sales Average	- -	- -	1.17	2.37	1.61	2.13	2.21	2.7	1.12	0.94	1.17	1.05
Price/Sales High	- -	- -	2.28	3.49	2.23	3	3.76	4.6	1.53	1.58	1.89	1.94
Price/Sales Low	- -	- -	0.57	1.4	1.16	1.44	1.13	1.41	0.79	0.3	0.56	0.69
Price/Cash Flow	- -	- -	10.4	-334.39	68.52	43.72	46.63	-9.53	14.92	-11.21	-22.12	-43.19
Price/Cash Flow Average	- -	- -	10.89	-460.52	71.02	50.21	28.91	-15.53	19.08	-15.91	-20.13	-48.95
Price/Cash Flow High	- -	- -	21.17	-676.97	97.98	70.54	49.17	-26.46	26.13	-26.76	-32.4	-90.1
Price/Cash Flow Low	- -	- -	5.32	-271.9	51.17	33.86	14.77	-8.12	13.45	-5.13	-9.59	-31.91
Price/Free Cash Flow Average	- -	- -	14.23	16,034.76	41.32	34.61	24.16	-16.63	16.29	-17.77	-21.2	-75.25
Price/Free Cash Flow High	- -	- -	27.66	23,571.28	57	48.62	41.11	-28.33	22.3	-29.89	-34.13	-138.51
Price/Free Cash Flow Low	- -	- -	6.95	9,467.36	29.77	23.34	12.34	-8.69	11.48	-5.73	-10.1	-49.06
EV/Sales Average	1.74	1.75	2.25	2.1	1.41	1.9	1.44	2.54	1	0.83	1.15	1.03
EV/Sales High	1.74	1.75	5.29	3.22	2.02	2.76	3	4.46	1.41	1.47	1.89	1.93
EV/Sales Low	1.74	1.75	0.61	1.13	0.95	1.2	0.36	1.24	0.67	0.19	0.51	0.65
EV/EBITDA Average	22.81	131.2	22.66	52.43	-40.19	69.22	-33.45	-25.01	-15.51	-5.31	-13.31	-11.1
EV/EBITDA High	22.81	131.2	53.2	80.21	-57.83	100.72	-69.59	-43.83	-21.95	-9.42	-21.96	-20.91
EV/EBITDA Low	22.81	131.2	6.1	28.22	-27.2	43.89	-8.23	-12.23	-10.36	-1.22	-5.88	-7.05
EV/EBIT Average	28.18	-480.68	28.37	107.45	-25.19	278.34	-21.98	-16.2	-8.82	-3.75	-7.78	-6.26
EV/EBIT High	28.18	-480.68	66.58	164.39	-36.24	404.99	-45.72	-28.4	-12.48	-6.66	-12.84	-11.79
EV/EBIT Low	28.18	-480.68	7.64	57.83	-17.05	176.47	-5.41	-7.93	-5.89	-0.86	-3.44	-3.97
Last Price	- -	- -	14.4	8.99	9.91	10.69	17.78	10.63	6.51	3.56	7.06	4.06
High Price	- -	- -	29.3	18.2	14.17	17.25	18.75	29.5	11.4	8.5	10.34	8.47
Enterprise Value Average	44	49	98	104	85	106	70	163	76	47	69	53
Enterprise Value High	44	49	230	159	123	154	146	286	107	83	115	100
Enterprise Value Low	44	49	26	56	58	67	17	80	51	11	31	34

Shares Outstanding	7	7	9	9	10	10	10	10	10	10	12	12
Diluted Weighted Avg Shares	6	6	5	10	10	10	10	10	10	10	11	12
Basic Weighted Avg Shares	6	6	3	9	10	10	10	10	10	10	11	12
Revenue per Share	4.53	4.93	12.88	5.22	6.37	5.76	4.99	6.42	7.45	5.39	5.48	4.37
EBITDA per Share	0.35	0.07	1.28	0.21	-0.22	0.16	-0.22	-0.65	-0.48	-0.84	-0.47	-0.4
Operating Income per Share	0.28	-0.02	1.02	0.1	-0.36	0.04	-0.33	-1.01	-0.84	-1.19	-0.81	-0.72
Basic EPS, GAAP	0.21	-0.48	0.65	0.12	-0.27	0.1	-0.34	-1.01	-0.85	-1.2	-0.79	-0.54
Basic EPS from Cont Ops	0.64	-0.05	1.11	0.12	-0.27	0.1	-0.34	-1.01	-0.85	-1.2	-0.79	-0.54
Diluted EPS, GAAP	0.21	-0.48	0.47	0.11	-0.27	0.09	-0.34	-1.01	-0.85	-1.2	-0.79	-0.54
Diluted EPS from Cont Ops	0.64	-0.05	0.8	0.11	-0.27	0.09	-0.34	-1.01	-0.85	-1.2	-0.79	-0.54
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	0.29	0.33	1.38	-0.03	0.14	0.24	0.38	-1.11	0.44	-0.32	-0.32	-0.09
Free Cash Flow per Basic Share	0.12	0.3	1.3	-0.05	0.04	0.12	0.31	-1.19	0.36	-0.35	-0.34	-0.13
Cash & Equivalents per Share	0.5	0.74	4.87	3.83	3.52	3.6	3.9	1.44	1.16	0.75	0.74	0.61
Book Value per Share	-6.03	-6.27	4.86	4.88	4.7	4.95	4.88	4.37	3.89	3	2.69	2.33
Tangible Book Value per Share	-6.03	-6.92	4.39	3.94	3.85	4.17	4.18	1.89	1.74	1.18	1.24	1.21

Airgain, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)