Avinger, Inc. Financial Ratios — AVGR Stock

Profitability (USD)

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
As of date	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

Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	- -	-144.22	-129.29	-120.56	-104.27	-141.98	-142.1	-81.85	-66.66	-55.56	-65.66	-96.51
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	51.51	36.71	41.92	39.53	24.82	-30.88	17.49	31.4	29.88	33.8	32.08	26.18
EBITDA Margin (%)	-386.48	-273.61	-210.26	-367.68	-256.12	-382.84	-274.77	-202.27	-188.41	-171.91	-190.51	-213.62
Operating Margin (%)	-395.5	-285.19	-223.2	-379.82	-263.96	-397.69	-290.95	-212.01	-198.65	-178.69	-192.88	-217.39
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	-395.5	-307.7	-284.94	-441.93	-292.12	-490.56	-348.17	-213.01	-216.94	-171.89	-213.02	-239.41
Profit Margin (%)	-395.61	-307.78	-285.06	-441.93	-292.12	-490.56	-348.17	-213.01	-216.94	-171.89	-213.02	-239.41
Net Income to Common Margin (%)	-395.61	-307.78	-285.06	-464.18	-292.12	-490.56	-450.94	-252.22	-261.07	-213.1	-329.31	-239.41
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	4.79	- -	- -	22.79	15.54	16.9	19.34	35.31	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
As of date	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

Total Debt	- -	34	29	30	41	45	7	14	17	15	16	15
ST Debt	- -	- -	2	- -	41	45	7	10	4	1	15	15
LT Debt	- -	34	27	30	- -	- -	- -	4	13	14	1	- -
Total Debt/EBITDA	- -	-0.95	-1.22	-0.75	-0.84	-1.18	-0.34	-0.75	-1.03	-0.89	-1.04	-0.94
Net Debt/EBITDA	0.62	-0.61	-0.7	0.34	-0.11	-1.03	0.41	0.11	0.56	0.41	0.03	-0.55
Total Debt/EBIT	- -	-0.91	-1.15	-0.73	-0.81	-1.13	-0.33	-0.71	-0.98	-0.85	-1.03	-0.93
Net Debt/EBIT	0.61	-0.58	-0.66	0.33	-0.1	-1	0.39	0.1	0.53	0.4	0.03	-0.54
EBITDA to Interest Expense	-5,513.83	-12.09	-3.92	-7.62	-8.91	-6.04	-3.82	-12.48	-9.76	-10.55	- -	- -
EBITDA-CapEx/Interest Expense	-5,561.83	-12.26	-3.94	-7.74	-9.08	-6.04	-3.83	-12.54	-9.76	-10.57	- -	- -
EBIT to Interest Expense	-5,642.5	-12.6	-4.16	-7.87	-9.18	-6.27	-4.05	-13.08	-10.29	-10.96	- -	- -
Interest Expense	- -	3	6	5	6	6	6	1	2	2	- -	- -
Common Equity/Total Assets	-246.23	-458.13	-599.64	-362.72	-471.25	-1,997.12	-1,387.75	-1,462.01	-1,106.36	-1,304.89	-1,663.02	-3,055.16
Long-Term Debt/Equity (%)	- -	- -	- -	189.65	- -	- -	- -	59.97	96.8	148.94	26.58	- -
Long-Term Debt/Capital (%)	- -	-41.82	-22.78	-17.74	- -	- -	- -	-1.24	-3.61	-3.92	-0.29	- -
Long-Term Debt/Total Assets (%)	- -	135.09	109.82	54.64	- -	- -	- -	17.36	38.13	49.11	4.55	- -
Total Debt/Equity (%)	- -	-29.95	-19.96	189.65	973.57	-125.37	79.13	200.49	130.41	159.07	394.57	-248.23
Total Debt/Capital (%)	- -	-41.82	-24.37	-17.74	-19.56	-17.44	-2.33	-4.13	-4.87	-4.19	-4.24	-3.8
Total Debt/Total Assets (%)	- -	135.09	117.49	54.64	77.09	296.55	31.59	58.02	51.37	52.45	67.61	111.8
Net Debt to Equity	28	-19.12	-11.4	-86.56	122.45	-110.27	-94.33	-28.66	-70.32	-74.15	-10.56	-145.4
Net Debt/Capital (%)	21.64	-23.18	-12.6	6.43	-2.1	-15.02	2.64	0.57	2.47	1.85	0.11	-2.2
EBITDA	-33	-35	-24	-39	-49	-38	-22	-18	-17	-17	-16	-16
EBITDA-CapEx	-33	-36	-24	-40	-50	-38	-22	-19	-17	-17	-16	-16
Operating Income (Loss)	-34	-37	-25	-41	-51	-40	-23	-19	-17	-18	-16	-17

Liquidity (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
As of date	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

Cash Ratio	5.6	3.28	1.39	5.76	0.74	0.11	1.16	0.86	2.97	4.14	0.81	0.27
Current Ratio	7.1	5.26	2.12	6.82	1	0.23	1.52	1.3	3.74	5.48	1.17	0.63
Quick Ratio	5.93	3.72	1.62	6.03	0.81	0.13	1.24	0.97	3.17	4.44	0.87	0.33
CFO/Avg Current Liab	- -	-10.98	-3.46	-5	-1.89	-0.69	-0.57	-1.28	-1.47	-2.58	-1.48	-0.77
Common Equity/Total Assets	-246.23	-458.13	-599.64	-362.72	-471.25	-1,997.12	-1,387.75	-1,462.01	-1,106.36	-1,304.89	-1,663.02	-3,055.16
Long-Term Debt/Equity (%)	- -	- -	- -	189.65	- -	- -	- -	59.97	96.8	148.94	26.58	- -
Long-Term Debt/Capital (%)	- -	-41.82	-22.78	-17.74	- -	- -	- -	-1.24	-3.61	-3.92	-0.29	- -
Long-Term Debt/Total Assets (%)	- -	135.09	109.82	54.64	- -	- -	- -	17.36	38.13	49.11	4.55	- -
Total Debt/Equity (%)	- -	-29.95	-19.96	189.65	973.57	-125.37	79.13	200.49	130.41	159.07	394.57	-248.23
Total Debt/Capital (%)	- -	-41.82	-24.37	-17.74	-19.56	-17.44	-2.33	-4.13	-4.87	-4.19	-4.24	-3.8
Total Debt/Total Assets (%)	- -	135.09	117.49	54.64	77.09	296.55	31.59	58.02	51.37	52.45	67.61	111.8
CFO/Total Liabilities	-33.89	-29.51	-12.95	-106.15	-107.61	-67.9	-129.69	-101.97	-73.74	-79.43	-83.6	-72.26
CFO/CapEx	-122.34	-81.97	-186.33	-70.85	-54.65	-766.13	-577.06	-196.18	- -	-461.68	-328.63	-1,804
Altman's Z-Score	-5.96	-10.01	-10.83	-1.94	-8.29	-38.97	-21.79	-22.28	-15.57	-17.8	-24.76	-46.76

Working Capital (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
As of date	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

Accounts Receivable Turnover	- -	9.08	6.07	5.19	6.83	4.23	6.94	6.99	5.96	7.04	6.75	7.39
Days Sales Outstanding	- -	40.19	60.14	70.32	53.48	86.29	52.59	52.21	61.28	51.83	54.05	49.39
Inventory Turnover	- -	1.99	1.49	1.38	2.08	2.04	1.69	1.71	1.58	1.58	1.17	1.1
Days Inventory Outstanding	- -	183.68	244.68	264.71	175.2	179.06	215.64	213.67	231.37	230.7	310.69	331.56
Accounts Payable Turnover	- -	8.39	5.74	7.42	12.87	6.14	4.67	7.46	9	7.12	5.91	8.5
Accounts Payable Turnover Days	- -	43.49	63.62	49.16	28.36	59.49	78.09	48.94	40.55	51.28	61.77	42.96
Cash Conversion Cycle	- -	180.38	241.2	285.87	200.31	205.86	190.15	216.94	252.1	231.25	302.97	338
Inventory to Cash Days	- -	-143.49	-184.54	-194.38	-121.72	-92.77	-163.05	-161.47	-170.09	-178.87	-256.65	-282.17
Inventories	4	5	4	5	8	4	3	4	4	5	5	5
Raw Materials	1	3	2	3	6	1	1	1	2	3	3	3
Work In Process	- -	- -	- -	- -	- -	- -	- -	1	- -	- -	- -	- -
Finished Goods	2	2	2	2	3	3	2	2	2	2	2	2
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
As of date	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

Market Capitalization	- -	- -	- -	286	88	6	3	8	22	42	7	2
- Cash & Cash Equivalents	21	12	12	43	36	5	16	11	22	19	15	5
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	34	29	30	41	45	7	14	17	15	16	15
Enterprise Value	-21	22	16	273	93	45	-6	11	17	38	9	12
Total Capital	-75	-81	-118	-167	-211	-257	-321	-335	-350	-369	-386	-405
Total Debt/Capital (%)	- -	-41.82	-24.37	-17.74	-19.56	-17.44	-2.33	-4.13	-4.87	-4.19	-4.24	-3.8
Total Debt / EV	- -	1.57	1.75	0.11	0.44	0.99	-1.31	1.24	1.03	0.4	1.92	1.26
EV/Sales	- -	1.66	1.46	25.45	4.85	4.57	- -	1.22	1.89	3.8	1.03	1.6
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	- -	- -	- -	286	88	6	3	8	22	42	7	2
Diluted Enterprise Value	-21	22	16	273	93	45	-6	11	17	38	9	12
EV per Share	- -	262,951.22	199,926.83	2,596,685.71	470,227.27	163,915.81	- -	461.39	100.73	122.2	20.49	15.59
TTM Sales	9	13	11	11	19	10	8	9	9	10	8	8
TTM EBITDA	-33	-35	-24	-39	-49	-38	-22	-18	-17	-17	-16	-16
TTM Operating Income	-34	-37	-25	-41	-51	-40	-23	-19	-17	-18	-16	-17
TTM Cash Flow to Firm	-35	-38	-16	-36	-48	-28	-13	-16	-13	-14	-17	-14
TTM Free Cash Flow to Firm	-35	-37	-16	-35	-47	-28	-13	-16	-13	-14	-17	-14

Multiples (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
As of date	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

Price/Free Cash Flow	- -	- -	- -	-7.1	-1.69	-0.18	-0.17	-0.48	-1.46	-2.71	-0.41	-0.15
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-21	22	16	273	93	45	-6	11	17	38	9	12
Low Price	- -	- -	- -	1,122,000	402,000	20,520	540	231	64.2	132.9	14.1	2.55
EV/Sales	- -	1.66	1.46	25.45	4.85	4.57	- -	1.22	1.89	3.8	1.03	1.6
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	-3.54	-3.74	-0.62	-0.55	-1.08	-0.97	-4.71	-0.6	-0.42
Price/Earnings High	- -	- -	- -	-6.36	-9.51	-2.89	-2.92	-3.96	-2.84	-11.68	-2.64	-1.04
Price/Earnings Low	- -	- -	- -	-2.37	-1.42	-0.12	-0.05	-0.24	-0.46	-1.94	-0.22	-0.11
Price/Book Value	- -	- -	- -	-1.46	-0.35	-0.02	-0.01	-0.02	-0.06	-0.11	-0.02	-0.01
Price/Book Value Average	- -	- -	- -	-0.9	-0.83	-0.1	-0.06	-0.07	-0.06	-0.26	-0.04	-0.02
Price/Book Value High	- -	- -	- -	-1.61	-2.11	-0.47	-0.32	-0.26	-0.18	-0.66	-0.18	-0.05
Price/Book Value Low	- -	- -	- -	-0.6	-0.32	-0.02	-0.01	-0.02	-0.03	-0.11	-0.01	- -
Price/Tangible Book Value	- -	- -	- -	18.36	20.73	-0.17	0.34	1.2	1.66	4.37	1.63	-0.34
Price/Tangible Book Value Average	- -	- -	- -	11.31	49.45	-0.85	2.08	3.6	1.7	10.46	3.91	-1.24
Price/Tangible Book Value High	- -	- -	- -	20.3	125.83	-3.95	11.02	13.23	4.97	25.93	17.36	-3.08
Price/Tangible Book Value Low	- -	- -	- -	7.56	18.77	-0.16	0.2	0.81	0.81	4.3	1.42	-0.32
Price/Sales	- -	- -	- -	26.71	4.58	0.61	0.41	0.9	2.47	4.2	0.82	0.28
Price/Sales Average	- -	- -	- -	16.45	10.92	3.06	2.49	2.72	2.54	10.04	1.96	1
Price/Sales High	- -	- -	- -	29.53	27.77	14.19	13.18	9.99	7.42	24.89	8.7	2.5
Price/Sales Low	- -	- -	- -	11	4.14	0.57	0.24	0.61	1.2	4.13	0.71	0.26
Price/Cash Flow	- -	- -	- -	-7	-1.66	-0.18	-0.17	-0.48	-1.46	-2.71	-0.4	-0.15
Price/Cash Flow Average	- -	- -	- -	-4.31	-3.95	-0.88	-1.07	-1.44	-1.5	-6.48	-0.97	-0.53
Price/Cash Flow High	- -	- -	- -	-7.74	-10.06	-4.09	-5.65	-5.28	-4.38	-16.06	-4.3	-1.32
Price/Cash Flow Low	- -	- -	- -	-2.88	-1.5	-0.16	-0.1	-0.32	-0.71	-2.67	-0.35	-0.14
Price/Free Cash Flow Average	- -	- -	- -	-4.37	-4.03	-0.88	-1.07	-1.45	-1.5	-6.49	-0.97	-0.53
Price/Free Cash Flow High	- -	- -	- -	-7.85	-10.24	-4.09	-5.66	-5.31	-4.38	-16.1	-4.31	-1.32
Price/Free Cash Flow Low	- -	- -	- -	-2.92	-1.53	-0.17	-0.1	-0.32	-0.71	-2.67	-0.35	-0.14
EV/Sales Average	- -	1.66	1.46	15.19	11.19	7.03	1.36	3.03	1.96	9.64	2.17	2.33
EV/Sales High	- -	1.66	1.46	28.27	28.04	18.15	12.05	10.3	6.83	24.49	8.91	3.82
EV/Sales Low	- -	1.66	1.46	9.74	4.41	4.53	- -	0.93	0.62	3.73	0.92	1.58
EV/EBITDA Average	0.62	-0.61	-0.7	-4.13	-4.37	-1.84	-0.5	-1.5	-1.04	-5.61	-1.14	-1.09
EV/EBITDA High	0.62	-0.61	-0.7	-7.69	-10.95	-4.74	-4.39	-5.09	-3.63	-14.25	-4.68	-1.79
EV/EBITDA Low	0.62	-0.61	-0.7	-2.65	-1.72	-1.18	0.32	-0.46	-0.33	-2.17	-0.48	-0.74
EV/EBIT Average	0.61	-0.58	-0.66	-4	-4.24	-1.77	-0.47	-1.43	-0.99	-5.39	-1.13	-1.07
EV/EBIT High	0.61	-0.58	-0.66	-7.44	-10.62	-4.56	-4.14	-4.86	-3.44	-13.71	-4.62	-1.76
EV/EBIT Low	0.61	-0.58	-0.66	-2.56	-1.67	-1.14	0.3	-0.44	-0.31	-2.09	-0.48	-0.73
Last Price	- -	- -	- -	2,725,200	444,000	21,840	900	342	132	135	16.27	2.71
High Price	- -	- -	- -	3,013,200	2,695,200	508,800	29,280	3,780	396	801	172.8	24.3
Enterprise Value Average	-21	22	16	163	215	70	11	28	17	98	18	18
Enterprise Value High	-21	22	16	303	539	180	95	94	60	248	74	29
Enterprise Value Low	-21	22	16	104	85	45	-7	8	5	38	8	12

Shares Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	1
Diluted Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1
Basic Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1
Revenue per Share	104,390.24	158,097.56	136,743.9	102,028.57	97,040.4	35,862.82	2,222.07	378.41	53.39	32.18	19.86	9.74
EBITDA per Share	-403,451.22	-432,573.17	-287,512.2	-375,142.86	-248,540.4	-137,296.03	-6,105.56	-765.4	-100.59	-55.32	-37.83	-20.8
Operating Income per Share	-412,865.85	-450,878.05	-305,207.32	-387,523.81	-256,146.46	-142,624.55	-6,465.19	-802.28	-106.06	-57.5	-38.3	-21.16
Basic EPS, GAAP	-412,975.61	-486,597.56	-389,804.88	-473,600	-283,474.75	-175,927.8	-10,020.21	-954.41	-139.38	-68.57	-65.4	-23.31
Basic EPS from Cont Ops	-412,975.61	-486,597.56	-389,804.88	-450,895.24	-283,474.75	-175,927.8	-7,736.66	-806.05	-115.82	-55.31	-42.3	-23.31
Diluted EPS, GAAP	-412,975.61	-486,597.56	-389,804.88	-473,600	-283,474.75	-175,927.8	-10,020.21	-954.41	-139.38	-68.57	-65.4	-23.31
Diluted EPS from Cont Ops	-412,975.61	-486,597.56	-389,804.88	-450,895.24	-283,474.75	-175,927.8	-7,736.66	-806.05	-115.82	-55.31	-42.3	-23.31
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	-429,682.93	-495,792.68	-265,865.85	-389,361.9	-268,025.25	-124,462.09	-5,184.17	-715.46	-90.4	-49.86	-40.23	-18.36
Free Cash Flow per Basic Share	-433,195.12	-501,841.46	-267,292.68	-394,857.14	-272,929.29	-124,624.55	-5,193.15	-719.1	-90.4	-49.97	-40.35	-18.37
Cash & Equivalents per Share	251,426.83	149,036.59	150,195.12	410,085.71	182,303.03	19,454.87	4,606.96	453.5	135.19	61.93	35.05	6.71
Book Value per Share	-910,585.37	-1,397,182.93	-1,786,987.8	-1,869,028.57	-1,274,686.87	-1,087,819.49	-92,330.71	-14,435.35	-2,237.96	-1,222.2	-965.84	-535.24
Tangible Book Value per Share	-898,097.56	-1,375,390.24	-1,754,487.8	148,466.67	21,419.19	-128,844.77	2,655.81	285.74	79.68	30.89	9.95	-7.89

Avinger, Inc.

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Per Share Data Items (USD)