Ameresco, Inc. Financial Ratios — AMRC Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	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	12/31/2011	12/31/2012	12/31/2013	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 (%)	23.41	10.93	1.39	5.89	0.46	6.39	17.43	15.02	15.21	15.83	17.46	19.53	11.06	9.09	6.56
Return on Assets (%)	5.43	2.78	0.38	1.69	0.13	1.58	4.21	3.54	3.5	3.46	3.54	3.72	1.9	1.44	1.02
Return on Capital (%)	10.08	6.23	2.2	- -	-18.44	5.12	- -	10.8	- -	- -	- -	9.4	- -	- -	- -
Return on Invested Capital (%)	8.96	5.32	1.5	- -	-28.84	4.12	- -	9.1	- -	- -	- -	8.04	- -	- -	- -
Gross Margin (%)	18.55	20.3	18	19.71	18.56	20.63	20.1	22.06	19.39	18.17	18.95	15.94	17.93	14.47	15.73
EBITDA Margin (%)	8.88	7.77	4.72	6.06	4.97	7.45	8.66	11.39	10.5	11.18	11.93	10.32	10.97	9.67	12.05
Operating Margin (%)	6.96	4.7	1.16	2.22	1.12	3.65	5.1	7.51	5.95	7.11	8.1	7.34	6.17	4.63	6.65
Incremental Operating Margin (%)	4.27	21.66	40.42	34.18	-16.21	81.98	19.43	32.17	-9.38	13.15	13.69	5.83	10.91	-0.73	28.71
Pretax Margin (%)	6.07	3.9	0.48	1.06	0.05	2.51	4	5.39	4.22	5.47	6.43	5.79	2.78	1.92	2.33
Profit Margin (%)	4.59	2.91	0.42	1.75	0.13	1.85	5.23	4.83	5.13	5.24	5.8	5.2	4.54	3.21	2.29
Net Income to Common Margin (%)	4.59	2.91	0.42	1.75	0.13	1.85	5.23	4.83	5.13	5.24	5.8	5.2	4.54	3.21	2.29
Effective Tax Rate (%)	24.37	25.39	12.5	- -	1,704.11	26.7	- -	11.35	- -	- -	- -	6.78	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	23.41	10.93	1.39	5.89	0.46	6.39	17.43	15.02	15.21	15.83	17.46	19.53	11.06	9.09	6.56

Credit (USD)

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	2011 Y	2012 Y	2013 Y	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	12/31/2011	12/31/2012	12/31/2013	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	215	122	116	102	114	160	196	246	371	422	498	938	1,548	1,703	1,946
ST Debt	19	12	13	12	13	19	22	27	76	75	85	337	336	160	140
LT Debt	196	109	103	90	100	141	173	219	295	347	412	600	1,212	1,543	1,806
Total Debt/EBITDA	3.33	2.48	4.29	2.84	3.63	3.29	3.15	2.75	4.08	3.66	3.43	4.98	10.27	9.95	8.36
Net Debt/EBITDA	2.92	1.19	3.65	2.18	2.94	2.87	2.76	2.06	3.33	2.73	2.8	4.17	9.37	8.91	7.77
Total Debt/EBIT	4.25	4.1	17.52	7.78	16.14	6.72	5.35	4.16	7.19	5.76	5.05	7	18.24	20.77	15.14
Net Debt/EBIT	3.73	1.96	14.93	5.97	13.08	5.86	4.68	3.12	5.87	4.29	4.12	5.86	16.65	18.6	14.08
EBITDA to Interest Expense	21.61	14.02	5.89	6.1	8.4	7.45	7.68	5.96	5.67	6.37	8.43	6.14	3.73	2.44	2.65
EBITDA-CapEx/Interest Expense	4.27	-0.93	0.05	1.28	-5.7	-4.23	-3.26	-2.66	-3.13	-3.72	-2.25	-4.56	-9.93	-3.81	-1.4
EBIT to Interest Expense	16.93	8.49	1.44	2.23	1.89	3.65	4.52	3.93	3.21	4.05	5.72	4.37	2.1	1.17	1.46
Interest Expense	3	3	5	6	4	7	8	15	16	18	17	31	40	70	88
Common Equity/Total Assets	24.6	26.23	28.22	29.18	25.2	24.38	23.97	23.23	22.89	21	19.72	18.55	16.05	15.69	15.36
Long-Term Debt/Equity (%)	83.07	41.66	37.29	31.45	34.96	47.77	51.46	58.15	64.13	65.26	54.94	65.28	124.63	147.32	160.61
Long-Term Debt/Capital (%)	52.49	36.52	35.93	31.73	33.87	38.94	39.21	42.48	41.18	41.82	41.97	38.32	54.74	64.57	67.21
Long-Term Debt/Total Assets (%)	30.42	16.15	17.02	14.48	13.89	17.63	17.61	18.87	21.49	19.78	18.53	20.87	32.64	37.11	39.8
Total Debt/Equity (%)	91.05	46.42	41.98	35.73	39.64	54.33	58.11	65.29	80.58	79.46	66.3	101.96	159.15	162.59	173.07
Total Debt/Capital (%)	57.54	40.69	40.44	36.05	38.39	44.28	44.28	47.7	51.74	50.92	50.64	59.84	69.9	71.26	72.42
Total Debt/Total Assets (%)	33.34	17.99	19.16	16.45	15.75	20.05	19.88	21.18	27.01	24.08	22.36	32.59	41.69	40.96	42.88
Net Debt to Equity	79.94	22.22	35.77	27.43	32.1	47.32	50.9	49	65.79	59.18	54.06	85.31	145.26	145.55	161
Net Debt/Capital (%)	54.33	24.72	36.66	30.2	33.54	40.91	41.04	40.63	44.29	41.22	43.53	54.06	66.17	66.82	69.22
EBITDA	65	49	27	36	31	49	62	90	91	115	145	188	151	171	233
EBITDA-CapEx	13	-3	- -	8	-21	-28	-26	-40	-50	-67	-39	-140	-401	-267	-123
Operating Income (Loss)	51	30	7	13	7	24	37	59	52	73	98	134	85	82	129

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	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	12/31/2011	12/31/2012	12/31/2013	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	0.18	0.43	0.13	0.17	0.12	0.11	0.12	0.28	0.1	0.17	0.11	0.14	0.09	0.12	0.07
Current Ratio	1.91	2	1.85	1.51	1.47	1.19	1.42	1.4	1.26	1.28	1.35	1.23	1.25	1.46	1.51
Quick Ratio	1.62	1.6	1.44	1.27	1.15	0.95	1.18	1.14	1.05	1.09	1.2	1.12	1.01	1.2	1.22
CFO/Avg Current Liab	-0.75	0.28	-0.43	0.01	-0.31	-0.28	-0.69	-0.25	-0.7	-0.29	-0.4	-0.53	-0.08	0.13	-0.08
Common Equity/Total Assets	24.6	26.23	28.22	29.18	25.2	24.38	23.97	23.23	22.89	21	19.72	18.55	16.05	15.69	15.36
Long-Term Debt/Equity (%)	83.07	41.66	37.29	31.45	34.96	47.77	51.46	58.15	64.13	65.26	54.94	65.28	124.63	147.32	160.61
Long-Term Debt/Capital (%)	52.49	36.52	35.93	31.73	33.87	38.94	39.21	42.48	41.18	41.82	41.97	38.32	54.74	64.57	67.21
Long-Term Debt/Total Assets (%)	30.42	16.15	17.02	14.48	13.89	17.63	17.61	18.87	21.49	19.78	18.53	20.87	32.64	37.11	39.8
Total Debt/Equity (%)	91.05	46.42	41.98	35.73	39.64	54.33	58.11	65.29	80.58	79.46	66.3	101.96	159.15	162.59	173.07
Total Debt/Capital (%)	57.54	40.69	40.44	36.05	38.39	44.28	44.28	47.7	51.74	50.92	50.64	59.84	69.9	71.26	72.42
Total Debt/Total Assets (%)	33.34	17.99	19.16	16.45	15.75	20.05	19.88	21.18	27.01	24.08	22.36	32.59	41.69	40.96	42.88
CFO/Total Liabilities	-26.58	10.2	-18.37	0.39	-11.36	-10.46	-20.94	-6.78	-21.49	-8.39	-11.69	-17.28	-2.55	3.78	-2.35
CFO/CapEx	-2.1	0.81	-2.25	0.05	-0.94	-0.69	-1.53	-0.41	-1.39	-0.56	-0.94	-1.03	-0.13	0.27	-0.23
Altman's Z-Score	3.04	2.51	2.59	2.36	1.94	1.72	1.74	1.82	1.74	2.36	2.78	2.06	1.12	1.08	1.16

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	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	12/31/2011	12/31/2012	12/31/2013	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	7.42	6.53	6.91	7.72	8.7	8.21	8.41	8.53	8.17	7.7	6.75	8.75	6.89	7.31	6.35
Days Sales Outstanding	49.2	55.93	52.81	47.27	41.96	44.48	43.38	42.81	44.7	47.39	54.08	41.72	53.01	49.91	57.46
Inventory Turnover	76.95	55.47	47.66	49.74	46.45	40.82	56.61	77.15	82.21	94.85	113.37	133.21	81.01	120.18	134.75
Days Inventory Outstanding	4.74	6.58	7.66	7.34	7.86	8.94	6.45	4.73	4.44	3.85	3.22	2.74	4.51	3.04	2.71
Accounts Payable Turnover	6.3	5.18	5.23	5.68	5.12	4.27	4.34	4.54	4.16	3.9	3.65	4.68	3	3.24	2.67
Accounts Payable Turnover Days	57.91	70.45	69.86	64.28	71.35	85.4	84.18	80.43	87.76	93.69	99.97	78.04	121.69	112.52	136.72
Cash Conversion Cycle	-3.96	-7.94	-9.39	-9.67	-21.53	-31.97	-34.35	-32.89	-38.62	-42.46	-42.67	-33.57	-64.18	-59.58	-76.56
Inventory to Cash Days	44.46	49.35	45.15	39.93	34.1	35.54	36.93	38.07	40.26	43.54	50.86	38.98	48.5	46.87	54.75
Inventories	9	10	10	9	13	12	8	8	9	9	9	14	14	12	13
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	9	10	10	9	13	12	8	8	9	9	9	14	14	12	13

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	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	12/31/2011	12/31/2012	12/31/2013	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	584	438	440	323	291	255	391	645	815	2,492	4,142	2,962	1,651	1,230	1,543
- Cash & Cash Equivalents	26	63	17	24	22	21	24	61	33	66	50	116	79	109	72
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	7	10	- -	32	39	46	96	71	34	44
+ Total Debt	215	122	116	102	114	160	196	246	371	422	498	938	1,548	1,703	1,946
Enterprise Value	773	496	539	402	383	401	573	829	1,185	2,887	4,635	3,880	3,191	2,859	3,461
Total Capital	374	299	287	284	297	361	442	516	717	830	982	1,567	2,215	2,390	2,687
Total Debt/Capital (%)	57.54	40.69	40.44	36.05	38.39	44.28	44.28	47.7	51.74	50.92	50.64	59.84	69.9	71.26	72.42
Total Debt / EV	0.28	0.24	0.22	0.25	0.3	0.4	0.34	0.3	0.31	0.15	0.11	0.24	0.49	0.6	0.56
EV/Sales	1.06	0.79	0.94	0.68	0.61	0.62	0.8	1.05	1.37	2.8	3.81	2.13	2.32	1.62	1.79
EV/EBITDA	11.95	10.12	19.89	11.16	12.22	8.27	9.23	9.25	13.01	25.02	31.96	20.61	21.16	16.7	14.87
EV/EBIT	15.26	16.72	81.29	30.54	54.32	16.88	15.66	14.03	22.95	39.36	47.07	28.97	37.6	34.87	26.92
EV/Cash Flow to Firm	- -	11.07	- -	36.38	- -	- -	- -	- -	- -	- -	- -	- -	444.41	12.48	113.65
EV/Free Cash Flow to Firm	- -	5.11	- -	10.18	- -	14.24	- -	9.24	- -	29.33	159.06	213.57	5.81	4.28	8.96
Diluted Market Cap	613	451	448	327	298	256	393	660	836	2,560	4,257	3,044	1,686	1,248	1,561
Diluted Enterprise Value	802	509	547	406	391	402	575	845	1,205	2,955	4,750	3,962	3,225	2,877	3,479
EV per Share	18.16	11.11	11.83	8.7	8.25	8.65	12.59	18.14	25.43	60.52	91.14	74.84	61.2	54.58	65.7
TTM Sales	728	631	574	593	631	651	717	787	867	1,032	1,216	1,824	1,375	1,770	1,932
TTM EBITDA	65	49	27	36	31	49	62	90	91	115	145	188	151	171	233
TTM Operating Income	51	30	7	13	7	24	37	59	52	73	98	134	85	82	129
TTM Cash Flow to Firm	-107	45	-56	11	-109	-48	-126	-40	-179	-84	-155	-310	-3	229	30
TTM Free Cash Flow to Firm	-55	97	-30	39	-57	28	-38	90	-37	98	29	18	549	667	386

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	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	12/31/2011	12/31/2012	12/31/2013	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	-10.79	4.78	-13.33	11	94.72	10.92	-8.34	8.64	-15.23	31.93	370.83	-293.03	3.5	2.24	5.66
EV/EBIT	15.26	16.72	81.29	30.54	54.32	16.88	15.66	14.03	22.95	39.36	47.07	28.97	37.6	34.87	26.92
Enterprise Value	773	496	539	402	383	401	573	829	1,185	2,887	4,635	3,880	3,191	2,859	3,461
Low Price	8.6	8.29	6.56	5.59	5.31	3.91	4.8	7.65	13.11	13.38	37.7	40.73	18.4	17.55	8.49
EV/Sales	1.06	0.79	0.94	0.68	0.61	0.62	0.8	1.05	1.37	2.8	3.81	2.13	2.32	1.62	1.79
EV/EBITDA	11.95	10.12	19.89	11.16	12.22	8.27	9.23	9.25	13.01	25.02	31.96	20.61	21.16	16.7	14.87
Price/Earnings	17.49	23.86	182.32	31.12	344.3	21.21	10.44	16.98	18.35	46.1	58.78	31.21	26.43	21.67	34.84
Price/Earnings Average	16.77	29.14	166.67	34.77	366.79	19.42	8.38	14.8	16.07	25.08	46.07	32.91	36.8	25.38	26.69
Price/Earnings High	22.26	35.82	205.34	48.06	439.6	24.3	10.86	19.97	18.92	48.35	73.52	47.36	54.97	36.62	53.45
Price/Earnings Low	10.96	20.16	123.81	24.85	292.52	15.08	5.83	9.21	13.74	11.81	27.21	22.24	15.36	16.2	10.1
Price/Book Value	3.68	2.47	2.57	1.78	1.59	1.31	1.66	2.39	2.59	6.76	9.44	5.55	2.77	1.88	2.21
Price/Book Value Average	3.53	3.02	2.35	1.99	1.7	1.2	1.33	2.08	2.27	3.68	7.4	5.86	3.86	2.21	1.7
Price/Book Value High	4.68	3.71	2.9	2.75	2.03	1.5	1.73	2.81	2.67	7.09	11.81	8.43	5.76	3.19	3.4
Price/Book Value Low	2.31	2.09	1.75	1.42	1.35	0.93	0.93	1.3	1.94	1.73	4.37	3.96	1.61	1.41	0.64
Price/Tangible Book Value	3.32	2.16	2.06	1.51	1.31	1.1	1.41	2.04	2.04	5.28	6.16	3.51	1.85	1.26	1.47
Price/Tangible Book Value Average	3.19	2.63	1.88	1.68	1.4	1.01	1.13	1.78	1.78	2.87	4.83	3.7	2.58	1.48	1.13
Price/Tangible Book Value High	4.23	3.24	2.32	2.33	1.67	1.26	1.46	2.4	2.1	5.54	7.7	5.33	3.86	2.14	2.26
Price/Tangible Book Value Low	2.08	1.82	1.4	1.2	1.11	0.78	0.79	1.11	1.53	1.35	2.85	2.5	1.08	0.95	0.43
Price/Sales	0.8	0.69	0.77	0.54	0.46	0.39	0.55	0.82	0.94	2.41	3.41	1.62	1.2	0.69	0.8
Price/Sales Average	0.77	0.85	0.7	0.61	0.49	0.36	0.44	0.71	0.82	1.31	2.67	1.71	1.67	0.81	0.61
Price/Sales High	1.02	1.04	0.86	0.84	0.59	0.45	0.57	0.96	0.97	2.53	4.26	2.46	2.5	1.17	1.23
Price/Sales Low	0.5	0.59	0.52	0.43	0.39	0.28	0.3	0.44	0.7	0.62	1.58	1.16	0.7	0.52	0.23
Price/Cash Flow	-5.37	10.38	-7.27	247.04	-5.87	-4.85	-2.89	-12.12	-4.15	-24.29	-24.04	-8.76	-23.59	10.46	-19.2
Price/Cash Flow Average	-5.15	12.67	-6.65	276.01	-6.25	-4.44	-2.32	-10.57	-3.64	-13.21	-18.84	-9.23	-32.85	12.25	-14.71
Price/Cash Flow High	-6.84	15.58	-8.19	381.51	-7.49	-5.55	-3	-14.26	-4.28	-25.48	-30.07	-13.29	-49.06	17.67	-29.45
Price/Cash Flow Low	-3.37	8.77	-4.94	197.28	-4.98	-3.45	-1.61	-6.58	-3.11	-6.22	-11.13	-6.24	-13.71	7.82	-5.57
Price/Free Cash Flow Average	-10.34	5.83	-12.18	12.29	100.91	10	-6.69	7.54	-13.34	17.37	290.65	-309.05	4.87	2.63	4.34
Price/Free Cash Flow High	-13.73	7.17	-15.01	16.99	120.94	12.51	-8.68	10.17	-15.71	33.49	463.81	-444.78	7.28	3.79	8.69
Price/Free Cash Flow Low	-6.76	4.04	-9.05	8.78	80.48	7.77	-4.66	4.69	-11.41	8.18	171.66	-208.88	2.03	1.68	1.64
EV/Sales Average	1.03	0.94	0.87	0.74	0.64	0.58	0.69	0.95	1.25	1.7	3.08	2.22	2.79	1.73	1.6
EV/Sales High	1.28	1.13	1.04	0.97	0.74	0.67	0.82	1.2	1.4	2.91	4.67	2.97	3.62	2.09	2.22
EV/Sales Low	0.76	0.68	0.69	0.57	0.54	0.5	0.56	0.68	1.13	1	1.98	1.66	1.82	1.44	1.22
EV/EBITDA Average	11.58	12.1	18.5	12.22	12.82	7.83	7.98	8.33	11.9	15.17	25.78	21.47	25.46	17.93	13.31
EV/EBITDA High	14.42	14.61	21.94	16.05	14.78	9.04	9.49	10.52	13.29	26.07	39.12	28.76	32.98	21.66	18.4
EV/EBITDA Low	8.58	8.74	14.68	9.35	10.82	6.75	6.45	5.96	10.77	8.95	16.62	16.09	16.57	14.89	10.16
EV/EBIT Average	14.78	19.99	75.6	33.42	57.01	15.97	13.55	12.64	20.99	23.86	37.98	30.18	45.23	37.44	24.11
EV/EBIT High	18.4	24.12	89.68	43.92	65.72	18.44	16.1	15.96	23.45	41.01	57.62	40.42	58.6	45.22	33.33
EV/EBIT Low	10.96	14.43	60	25.59	48.13	13.78	10.94	9.04	18.99	14.08	24.48	22.62	29.45	31.08	18.4
Last Price	13.72	9.81	9.66	7	6.25	5.5	8.6	14.1	17.5	52.24	81.44	57.14	31.67	23.48	29.29
High Price	17.46	14.73	10.88	10.81	7.98	6.3	8.95	16.59	18.05	54.79	101.86	86.73	65.86	39.68	44.93
Enterprise Value Average	749	593	501	440	402	380	496	747	1,084	1,750	3,739	4,042	3,839	3,070	3,100
Enterprise Value High	933	716	595	578	464	439	589	943	1,210	3,008	5,673	5,414	4,973	3,708	4,285
Enterprise Value Low	555	428	398	337	340	328	400	534	980	1,033	2,410	3,029	2,499	2,548	2,365

Shares Outstanding	44	45	46	46	47	46	46	46	47	48	52	52	52	53	53
Diluted Weighted Avg Shares	45	46	46	47	48	46	46	47	48	49	52	53	53	53	53
Basic Weighted Avg Shares	43	45	46	46	46	46	46	46	47	48	51	52	52	52	53
Revenue per Share	17.1	14.14	12.6	12.85	13.57	14.03	15.76	17.21	18.61	21.64	23.91	35.19	26.36	33.79	36.68
EBITDA per Share	1.52	1.1	0.59	0.78	0.67	1.05	1.36	1.96	1.95	2.42	2.85	3.63	2.89	3.27	4.42
Operating Income per Share	1.19	0.66	0.15	0.28	0.15	0.51	0.8	1.29	1.11	1.54	1.94	2.58	1.63	1.57	2.44
Basic EPS, GAAP	0.78	0.41	0.05	0.22	0.02	0.26	0.82	0.83	0.95	1.13	1.39	1.83	1.2	1.08	0.84
Basic EPS from Cont Ops	0.78	0.41	0.05	0.22	-0.1	0.26	0.74	0.82	0.87	1.19	1.58	1.9	1.23	1.03	1.08
Diluted EPS, GAAP	0.75	0.4	0.05	0.22	0.02	0.26	0.82	0.81	0.93	1.1	1.35	1.78	1.17	1.07	0.83
Diluted EPS from Cont Ops	0.75	0.4	0.05	0.22	-0.1	0.26	0.73	0.8	0.84	1.16	1.53	1.85	1.2	1.02	1.06
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	-2.55	0.95	-1.33	0.03	-1.07	-1.13	-2.98	-1.16	-4.21	-2.15	-3.39	-6.53	-1.34	2.25	-1.53
Free Cash Flow per Basic Share	-3.77	-0.22	-1.92	-0.59	-2.2	-2.77	-4.92	-4	-7.25	-5.98	-7	-12.85	-11.92	-6.12	-8.28
Cash & Equivalents per Share	0.62	1.42	0.38	0.51	0.47	0.44	0.53	1.34	0.71	1.39	0.99	2.23	1.52	2.07	1.36
Book Value per Share	3.73	3.97	3.76	3.93	3.92	4.19	5.18	5.9	6.75	7.72	8.63	10.29	11.43	12.46	13.23
Tangible Book Value per Share	4.13	4.55	4.69	4.65	4.77	5.01	6.11	6.92	8.6	9.9	13.22	16.29	17.08	18.57	19.88

Ameresco, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)