Aksys Ltd. Financial Ratios — AKSY Stock

Profitability (USD)

	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	- -	-31.14	-54.82	-50.49	-76.64	-94.11	-101.44	-96.57	-67.04	-94.86
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	- -	100	100	100	- -	-657.72	-293.16	-341.34	-459.2
EBITDA Margin (%)	-9,500	- -	-1,787.17	-114.08	-466.03	- -	-5,167.38	-1,473.42	-1,087.8	-1,179.76
Operating Margin (%)	-9,800	- -	-1,883.25	-127.96	-491.18	- -	-5,356.99	-1,511.3	-1,122.15	-1,232.86
Incremental Operating Margin (%)	- -	5,979.37	- -	- -	- -	25.81	- -	- -	- -	- -
Pretax Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	-1,141.44	-1,280.64
Profit Margin (%)	-7,800	- -	-1,715.47	-117.58	-457.41	- -	-5,258.23	-1,494	-1,145.81	-1,281.31
Net Income to Common Margin (%)	-7,800	- -	-1,715.47	-117.58	-457.41	- -	-5,258.23	-1,494	-1,145.81	-1,281.31
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y
Total Debt	- -	- -	- -	- -	- -	- -	- -	- -	17	15
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	3	- -
LT Debt	- -	- -	- -	- -	- -	- -	- -	- -	14	15
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	-0.65	-0.48
Net Debt/EBITDA	1.15	0.54	0.49	0.39	1.19	0.6	0.06	0.7	-0.29	-0.46
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	-0.63	-0.46
Net Debt/EBIT	1.11	0.52	0.46	0.35	1.13	0.58	0.06	0.68	-0.28	-0.44
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-31.94	-80.21	-179.41	-307.46	-331.34	-627.63	-644.43	-434	-295.24	-994.53
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	43.98	- -
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	-9.79	-8.63
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	25.76	79.02
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	54.95	-459.05
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	-12.23	-8.65
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	32.18	79.19
Net Debt to Equity	-22.38	-23.1	-37.21	-34.24	-98.83	-81.25	-6.99	-66.57	24.57	-440.7
Net Debt/Capital (%)	40.52	21.71	15.71	6.95	20.64	10.14	0.89	10.69	-5.12	-8.28
EBITDA	-10	-15	-18	-11	-16	-17	-15	-22	-26	-31
EBITDA-CapEx	-12	-17	-19	-11	-16	-17	-16	-24	-29	-32
Operating Income (Loss)	-10	-16	-19	-12	-17	-18	-16	-23	-27	-33

Liquidity (USD)

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	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y
Cash Ratio	7.79	22.77	8.05	2.46	7.13	6.65	4.24	3.19	2.99	0.08
Current Ratio	33.21	23.18	8.16	2.52	7.21	7.23	5.37	4.22	4.99	1.85
Quick Ratio	7.79	23.08	8.08	2.51	7.14	6.79	4.34	3.24	3.03	1.19
CFO/Avg Current Liab	- -	-9.5	-7.77	-1.24	-4.02	-8.36	-7.35	-4.73	-4.32	-3.54
Common Equity/Total Assets	-31.94	-80.21	-179.41	-307.46	-331.34	-627.63	-644.43	-434	-295.24	-994.53
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	43.98	- -
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	-9.79	-8.63
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	25.76	79.02
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	54.95	-459.05
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	-12.23	-8.65
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	32.18	79.19
CFO/Total Liabilities	-521.43	-937.19	-558.85	-86.02	-618.04	-987.28	-565.43	-328.6	-143.05	-120.51
CFO/CapEx	-3.04	-7.25	-10.7	-13.05	-112.01	-189.81	-35.57	-13.9	-12.65	-182.23
Altman's Z-Score	-0.01	-1.62	-4.04	-5.38	52.31	15.48	15.35	14.97	-0.56	-18.58

Working Capital (USD)

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	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y
Accounts Receivable Turnover	- -	- -	- -	- -	- -	- -	4.71	6.41	8.45	9.34
Days Sales Outstanding	- -	- -	- -	- -	- -	- -	77.49	56.93	43.19	39.1
Inventory Turnover	- -	- -	- -	- -	- -	- -	1.69	1.35	1.82	3.19
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	216.26	270.06	200.45	114.4
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	3.26	2.66	3.16	4.79
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	111.8	137.44	115.57	76.28
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	181.95	189.55	128.08	77.22
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	-138.77	-213.13	-157.26	-75.3
Inventories	- -	- -	- -	- -	- -	- -	3	6	6	4
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	1
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	2	5	5	2
Other Inventory	- -	- -	- -	- -	- -	- -	- -	1	1	2

Enterprise Value (USD)

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	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y
Market Capitalization	- -	- -	- -	- -	276	85	127	246	164	19
- Cash & Cash Equivalents	11	8	9	4	19	10	1	15	9	1
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	- -	- -	- -	- -	- -	17	15
Enterprise Value	-11	-29	-20	-15	257	73	116	226	157	34
Total Capital	-16	-29	-47	-58	-74	-91	-106	-129	-139	-175
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	-12.23	-8.65
Total Debt / EV	- -	- -	- -	- -	- -	- -	- -	- -	0.11	0.45
EV/Sales	- -	- -	- -	- -	74.9	- -	388.01	151.54	64.82	12.73
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	- -	- -	- -	- -	276	85	127	246	164	19
Diluted Enterprise Value	-11	-8	-9	-4	257	74	126	231	172	34
EV per Share	- -	- -	- -	- -	15.19	3.99	4.77	8.01	5.25	1.13
TTM Sales	- -	- -	1	10	3	- -	- -	1	2	3
TTM EBITDA	-10	-15	-18	-11	-16	-17	-15	-22	-26	-31
TTM Operating Income	-10	-16	-19	-12	-17	-18	-16	-23	-27	-33
TTM Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	-31	-27
TTM Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	-29	-27

Multiples (USD)

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	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y
Price/Free Cash Flow	- -	- -	- -	- -	-15.89	-4.66	-8.1	-12.4	-5.68	-0.72
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-11	-29	-20	-15	257	73	116	226	157	34
Low Price	- -	- -	- -	- -	4.88	3	3.52	4.7	4.2	0.52
EV/Sales	- -	- -	- -	- -	74.9	- -	388.01	151.54	64.82	12.73
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	-11.32	-8.61	-8.72	-10.83	-6.75	-2.33
Price/Earnings High	- -	- -	- -	- -	-18.86	-18.03	-16.09	-20.07	-12.5	-4.85
Price/Earnings Low	- -	- -	- -	- -	-5.25	-3.2	-5.45	-5.95	-4.52	-0.46
Price/Book Value	- -	- -	- -	- -	-3.76	-0.93	-1.2	-1.91	-1.05	-0.1
Price/Book Value Average	- -	- -	- -	- -	-2.42	-1.64	-1.29	-1.88	-1.19	-0.42
Price/Book Value High	- -	- -	- -	- -	-4.03	-3.43	-2.38	-3.48	-2.21	-0.87
Price/Book Value Low	- -	- -	- -	- -	-1.12	-0.61	-0.8	-1.03	-0.8	-0.08
Price/Tangible Book Value	- -	- -	- -	- -	14.28	6.72	9.33	10.64	5.29	-5.85
Price/Tangible Book Value Average	- -	- -	- -	- -	9.19	11.77	10.03	10.43	6.02	-24.09
Price/Tangible Book Value High	- -	- -	- -	- -	15.32	24.66	18.52	19.34	11.16	-50.18
Price/Tangible Book Value Low	- -	- -	- -	- -	4.27	4.38	6.27	5.73	4.04	-4.71
Price/Sales	- -	- -	- -	- -	80.47	- -	426.55	165.06	67.89	7.24
Price/Sales Average	- -	- -	- -	- -	51.77	- -	458.31	161.79	77.31	29.83
Price/Sales High	- -	- -	- -	- -	86.28	- -	846.2	299.89	143.2	62.13
Price/Sales Low	- -	- -	- -	- -	24.04	- -	286.41	88.93	51.85	5.83
Price/Cash Flow	- -	- -	- -	- -	-15.75	-4.64	-7.87	-11.51	-5.23	-0.71
Price/Cash Flow Average	- -	- -	- -	- -	-10.13	-8.12	-8.46	-11.28	-5.95	-2.94
Price/Cash Flow High	- -	- -	- -	- -	-16.89	-17.01	-15.62	-20.91	-11.02	-6.13
Price/Cash Flow Low	- -	- -	- -	- -	-4.71	-3.02	-5.29	-6.2	-3.99	-0.58
Price/Free Cash Flow Average	- -	- -	- -	- -	-10.22	-8.16	-8.7	-12.15	-6.46	-2.96
Price/Free Cash Flow High	- -	- -	- -	- -	-17.04	-17.1	-16.07	-22.53	-11.97	-6.16
Price/Free Cash Flow Low	- -	- -	- -	- -	-4.75	-3.04	-5.44	-6.68	-4.33	-0.58
EV/Sales Average	- -	- -	- -	- -	46.2	- -	455.12	151.47	80.46	35.31
EV/Sales High	- -	- -	- -	- -	80.71	- -	843	289.56	146.35	67.61
EV/Sales Low	- -	- -	- -	- -	18.47	- -	283.21	78.6	55	11.32
EV/EBITDA Average	1.15	0.54	0.49	0.39	-9.91	-8.12	-8.81	-10.28	-7.4	-2.99
EV/EBITDA High	1.15	0.54	0.49	0.39	-17.32	-17.68	-16.31	-19.65	-13.45	-5.73
EV/EBITDA Low	1.15	0.54	0.49	0.39	-3.96	-2.65	-5.48	-5.33	-5.06	-0.96
EV/EBIT Average	1.11	0.52	0.46	0.35	-9.41	-7.78	-8.5	-10.02	-7.17	-2.86
EV/EBIT High	1.11	0.52	0.46	0.35	-16.43	-16.93	-15.74	-19.16	-13.04	-5.48
EV/EBIT Low	1.11	0.52	0.46	0.35	-3.76	-2.53	-5.29	-5.2	-4.9	-0.92
Last Price	- -	- -	- -	- -	16.32	4.6	5.24	8.72	5.5	0.65
High Price	- -	- -	- -	- -	17.5	16.88	10.4	15.85	11.6	5.54
Enterprise Value Average	-11	-8	-9	-4	159	138	136	226	194	94
Enterprise Value High	-11	-8	-9	-4	277	301	252	432	354	180
Enterprise Value Low	-11	-8	-9	-4	63	45	85	117	133	30

	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y
Shares Outstanding	14	15	15	15	18	19	26	30	30	30
Diluted Weighted Avg Shares	12	14	15	15	17	18	24	28	30	30
Basic Weighted Avg Shares	12	14	15	15	17	18	24	28	30	30
Revenue per Share	0.01	- -	0.07	0.65	0.2	- -	0.01	0.05	0.08	0.09
EBITDA per Share	-0.76	-1.09	-1.22	-0.74	-0.95	-0.92	-0.64	-0.78	-0.88	-1.05
Operating Income per Share	-0.79	-1.14	-1.29	-0.83	-1	-0.96	-0.66	-0.8	-0.91	-1.1
Basic EPS, GAAP	-0.63	-0.98	-1.17	-0.76	-0.93	-0.94	-0.65	-0.79	-0.93	-1.14
Basic EPS from Cont Ops	-0.63	-0.98	-1.17	-0.76	-0.93	-0.94	-0.65	-0.79	-0.93	-1.14
Diluted EPS, GAAP	-0.63	-0.98	-1.17	-0.76	-0.93	-0.94	-0.65	-0.79	-0.93	-1.14
Diluted EPS from Cont Ops	-0.63	-0.98	-1.17	-0.76	-0.93	-0.94	-0.65	-0.79	-0.93	-1.14
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	-0.59	-0.92	-1.01	-0.36	-1.04	-0.99	-0.67	-0.76	-1.05	-0.9
Free Cash Flow per Basic Share	-0.78	-1.05	-1.1	-0.38	-1.05	-1	-0.68	-0.81	-1.14	-0.91
Cash & Equivalents per Share	0.88	2.12	1.38	1	1.13	0.61	0.47	0.71	0.82	0.02
Book Value per Share	-1.29	-2.13	-3.18	-3.89	-4.34	-4.93	-4.38	-4.56	-5.24	-6.36
Tangible Book Value per Share	3.91	2.56	1.59	0.85	1.14	0.68	0.56	0.82	1.04	-0.11

Aksys Ltd.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)