Banner Corporation Financial Ratios — BANR 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
Return on Common Equity (%)	-0.18	13.05	8.8	9.59	4.8	6.54	4.7	9.93	9.65	7.34	12.23	11.13	9.76	8.46	9.29
Return on Assets (%)	0.13	1.52	1.07	1.19	0.62	0.87	0.62	1.26	1.2	0.84	1.26	1.2	1.17	1.06	1.2
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	5.47	5.03	4.48	4.45	4.34	4.5	4.47	4.11	4.52	4.32	3.94	3.56	3.51	3.43	2.75
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	2.75	20.42	33.56	35.89	22.47	28.44	32.25	31.91	32.54	23.79	40.61	38.6	36.86	34.74	36.53
Profit Margin (%)	2.75	33.04	22.03	23.92	14.95	18.73	12.96	26.38	25.99	19.36	33.11	31.32	29.8	28.01	29.87
Net Income to Common Margin (%)	-0.37	30.53	22.03	23.92	14.95	18.73	12.96	26.38	25.99	19.36	33.11	31.32	29.8	28.01	29.87
Effective Tax Rate (%)	- -	- -	34.36	33.35	33.47	34.14	59.82	17.32	20.12	18.62	18.47	18.85	19.14	19.37	18.22
Dvd Payout Ratio (%)	-353.57	2.56	16.88	24.9	37.97	33.12	108.2	43.42	38.33	81.15	28.66	31.26	36.36	39.51	34.56
Sustainable Growth Rate (%)	-0.84	12.72	7.31	7.21	2.98	4.38	-0.39	5.62	5.95	1.38	8.73	7.65	6.21	5.12	6.08

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
Total Debt	61	83	101	110	226	149	99	654	569	425	328	279	531	481	265
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	61	83	101	110	226	149	99	654	569	425	328	279	531	481	265
Total Debt/EBITDA	5.57	8.44	10.77	10.97	17.21	7.28	4.72	30.75	22.38	16.41	13.72	12.56	24.55	23.25	14.71
Net Debt/EBITDA	-6.62	-9.91	-3.85	-1.57	-2.75	-4.79	-7.75	17.96	10.28	-33.6	-78.02	-0.87	10.53	-3.1	-10.74
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	9.67	11.88	12.39	12.35	13.28	13.37	13.09	12.4	12.38	10.63	10.06	11.49	12.39	12.66	13.17
Long-Term Debt/Equity (%)	11.37	16.45	18.77	18.91	17.37	11.44	7.77	44.25	35.71	25.48	19.41	19.16	32.12	27.12	13.61
Long-Term Debt/Capital (%)	10.21	14.13	15.68	15.9	14.79	10.24	7.19	30.78	26.73	21	16.26	13.3	21.47	19	10.95
Long-Term Debt/Total Assets (%)	1.42	1.95	2.31	2.33	2.31	1.53	1.01	5.51	4.52	2.82	1.95	1.76	3.39	2.97	1.62
Total Debt/Equity (%)	11.37	16.45	18.77	18.91	17.37	11.44	7.77	44.25	35.71	25.48	19.41	19.16	32.12	27.12	13.61
Total Debt/Capital (%)	10.21	14.13	15.68	15.9	14.79	10.24	7.19	30.78	26.73	21	16.26	13.3	21.47	19	10.95
Total Debt/Total Assets (%)	1.42	1.95	2.31	2.33	2.31	1.53	1.01	5.51	4.52	2.82	1.95	1.76	3.39	2.97	1.62
Net Debt to Equity	-13.51	-19.32	-6.71	-2.71	-2.77	-7.53	-12.75	25.84	16.41	-52.15	-110.39	-1.32	13.78	-3.61	-9.94
Net Debt/Capital (%)	-15.62	-23.95	-7.12	-2.79	-2.85	-8.12	-14.55	20.61	14.35	-110.35	1,608.25	-1.04	10.27	-3.16	-9.69
EBITDA	11	10	9	10	13	21	21	21	25	26	24	22	22	21	18
EBITDA-CapEx	7	4	1	4	1	4	9	-2	1	13	13	7	7	7	8
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

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
Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	9.67	11.88	12.39	12.35	13.28	13.37	13.09	12.4	12.38	10.63	10.06	11.49	12.39	12.66	13.17
Long-Term Debt/Equity (%)	11.37	16.45	18.77	18.91	17.37	11.44	7.77	44.25	35.71	25.48	19.41	19.16	32.12	27.12	13.61
Long-Term Debt/Capital (%)	10.21	14.13	15.68	15.9	14.79	10.24	7.19	30.78	26.73	21	16.26	13.3	21.47	19	10.95
Long-Term Debt/Total Assets (%)	1.42	1.95	2.31	2.33	2.31	1.53	1.01	5.51	4.52	2.82	1.95	1.76	3.39	2.97	1.62
Total Debt/Equity (%)	11.37	16.45	18.77	18.91	17.37	11.44	7.77	44.25	35.71	25.48	19.41	19.16	32.12	27.12	13.61
Total Debt/Capital (%)	10.21	14.13	15.68	15.9	14.79	10.24	7.19	30.78	26.73	21	16.26	13.3	21.47	19	10.95
Total Debt/Total Assets (%)	1.42	1.95	2.31	2.33	2.31	1.53	1.01	5.51	4.52	2.82	1.95	1.76	3.39	2.97	1.62
CFO/Total Liabilities	2.72	2.17	2.48	2.37	0.19	-0.89	4.08	0.3	1.36	0.94	2	1.66	1.83	2.03	1.79
CFO/CapEx	28.24	14.5	11.61	16.52	1.34	-4.67	28.32	1.33	6.06	9.79	28.74	16.17	17.56	21.33	27.06
Altman's Z-Score	0.05	0.12	0.18	0.17	0.11	0.2	0.19	0.16	0.18	0.14	0.15	0.18	0.18	0.2	0.21

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
Accounts Receivable Turnover	12.62	13.31	15.02	15.44	13.47	15.24	15.27	14.82	14.7	14.16	13.56	12.45	10.24	9.73	10.77
Days Sales Outstanding	28.93	27.42	24.29	23.63	27.09	23.94	23.9	24.63	24.82	25.78	26.91	29.32	35.66	37.53	33.88
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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	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
Market Capitalization	287	573	868	833	1,092	1,888	1,813	1,753	1,973	1,643	2,100	2,166	1,839	2,302	2,159
- Cash & Cash Equivalents	132	181	137	126	262	248	261	272	308	1,234	2,134	243	254	502	423
+ Preferred Equity and Hybrid Capital	121	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	61	83	101	110	226	149	99	654	569	425	328	279	531	481	265
Enterprise Value	-130	2	361	406	-83	983	731	499	683	-1,489	-3,345	-588	2,116	176	1,985
Total Capital	593	590	645	693	1,527	1,459	1,377	2,126	2,130	2,022	2,018	2,098	2,473	2,533	2,419
Total Debt/Capital (%)	10.21	14.13	15.68	15.9	14.79	10.24	7.19	30.78	26.73	21	16.26	13.3	21.47	19	10.95
Total Debt / EV	-0.46	36.66	0.28	0.27	-2.72	0.15	0.14	1.31	0.83	-0.29	-0.1	-0.47	0.25	2.73	0.13
EV/Sales	- -	0.01	1.72	1.8	- -	2.16	1.56	0.96	1.21	- -	- -	- -	3.43	0.29	3.03
EV/EBITDA	- -	0.23	38.45	40.38	- -	47.88	34.9	23.46	26.86	- -	- -	- -	97.83	8.52	110.2
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	0.03	3.79	4.14	- -	- -	2.11	16.22	4.57	- -	- -	- -	8.23	0.6	7.71
EV/Free Cash Flow to Firm	- -	0.03	3.49	3.9	- -	- -	2.04	9.27	3.92	- -	- -	- -	7.78	0.57	7.43
Diluted Market Cap	287	575	869	835	1,095	1,889	1,818	1,759	1,979	1,655	2,119	2,178	1,845	2,312	2,172
Diluted Enterprise Value	336	477	833	819	1,058	1,791	1,656	2,141	2,240	846	312	2,214	2,122	2,292	2,014
EV per Share	- -	0.12	18.66	20.97	- -	29.06	22.23	15.23	19.59	- -	- -	- -	61.61	5.12	57.59
TTM Sales	199	196	210	226	303	456	469	517	563	599	607	624	616	603	654
TTM EBITDA	11	10	9	10	13	21	21	21	25	26	24	22	22	21	18
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	101	81	95	98	16	-76	347	31	150	125	302	238	257	293	257
TTM Free Cash Flow to Firm	105	87	104	104	28	-60	359	54	174	138	312	253	272	307	267

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
Price/Free Cash Flow	2.74	6.61	8.39	8.03	38.69	-31.71	5.07	32.66	11.35	11.98	6.79	8.62	6.79	7.53	8.13
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-130	2	361	406	-83	983	731	499	683	-1,489	-3,345	-588	2,116	176	1,985
Low Price	11.67	17.13	29.14	35.51	39	35.39	51.61	48.5	50.21	27.12	44.01	52.35	39.31	42	54.01
EV/Sales	- -	0.01	1.72	1.8	- -	2.16	1.56	0.96	1.21	- -	- -	- -	3.43	0.29	3.03
EV/EBITDA	- -	0.23	38.45	40.38	- -	47.88	34.9	23.46	26.86	- -	- -	- -	97.83	8.52	110.2
Price/Earnings	- -	9.56	18.78	15.4	24.14	22.11	29.83	12.84	13.49	14.17	10.44	11.08	10.02	13.63	11.05
Price/Earnings Average	-371.66	7.22	14.65	14.37	24.42	17.4	30.67	14.2	13.17	12.11	9.55	10.74	9.31	11.13	11.38
Price/Earnings High	-455.36	9.74	18.92	16.14	28.18	22.38	33.96	16.12	15.3	17.34	10.89	13.28	12.59	15.93	12.8
Price/Earnings Low	-262.68	5.33	12.21	12.71	20.53	14.02	27.93	11.65	11.97	8.25	7.58	9.18	7.35	8.57	9.53
Price/Book Value	0.7	1.13	1.6	1.43	0.84	1.44	1.42	1.19	1.26	1.03	1.24	1.19	0.95	1.12	1
Price/Book Value Average	0.67	0.85	1.24	1.33	0.85	1.13	1.46	1.32	1.23	0.88	1.14	1.15	0.88	0.92	1.03
Price/Book Value High	0.82	1.15	1.61	1.5	0.98	1.46	1.62	1.5	1.43	1.26	1.3	1.43	1.19	1.31	1.16
Price/Book Value Low	0.47	0.63	1.04	1.18	0.71	0.91	1.33	1.08	1.12	0.6	0.9	0.99	0.7	0.71	0.86
Price/Tangible Book Value	0.71	1.14	1.62	1.44	1.08	1.83	1.8	1.58	1.66	1.29	1.61	2.02	1.44	1.65	1.37
Price/Tangible Book Value Average	0.68	0.86	1.26	1.34	1.09	1.44	1.85	1.75	1.62	1.1	1.47	1.95	1.34	1.34	1.41
Price/Tangible Book Value High	0.83	1.16	1.63	1.5	1.26	1.85	2.05	1.99	1.88	1.58	1.68	2.42	1.81	1.92	1.59
Price/Tangible Book Value Low	0.48	0.64	1.05	1.19	0.91	1.16	1.69	1.44	1.47	0.75	1.17	1.67	1.06	1.04	1.18
Price/Sales	1.44	2.92	4.14	3.68	3.61	4.14	3.86	3.39	3.51	2.74	3.46	3.47	2.99	3.82	3.3
Price/Sales Average	1.39	2.2	3.23	3.44	3.65	3.26	3.97	3.75	3.42	2.34	3.16	3.36	2.77	3.12	3.4
Price/Sales High	1.7	2.97	4.17	3.86	4.21	4.19	4.4	4.25	3.98	3.36	3.6	4.16	3.75	4.46	3.82
Price/Sales Low	0.98	1.63	2.69	3.04	3.07	2.63	3.62	3.07	3.11	1.6	2.51	2.88	2.19	2.4	2.85
Price/Cash Flow	2.83	7.04	9.1	8.49	67.31	-24.9	5.23	56.97	13.19	13.1	6.96	9.1	7.15	7.85	8.39
Price/Cash Flow Average	2.73	5.32	7.1	7.92	68.11	-19.6	5.38	63.01	12.87	11.2	6.36	8.82	6.64	6.41	8.64
Price/Cash Flow High	3.34	7.17	9.17	8.9	78.59	-25.2	5.95	71.49	14.96	16.04	7.26	10.9	8.99	9.18	9.71
Price/Cash Flow Low	1.93	3.92	5.92	7.01	57.24	-15.79	4.9	51.67	11.7	7.63	5.05	7.54	5.25	4.94	7.23
Price/Free Cash Flow Average	2.64	4.99	6.55	7.49	39.15	-24.96	5.21	36.12	11.08	10.24	6.21	8.35	6.31	6.15	8.37
Price/Free Cash Flow High	3.23	6.74	8.46	8.41	45.18	-32.1	5.77	40.98	12.88	14.66	7.08	10.32	8.53	8.81	9.42
Price/Free Cash Flow Low	1.86	3.69	5.46	6.62	32.9	-20.11	4.74	29.62	10.07	6.97	4.92	7.14	4.98	4.74	7.01
EV/Sales Average	1.64	1.71	3.06	3.37	3.53	3.04	3.63	4.49	3.89	0.99	0.19	3.42	3.22	3.08	3.16
EV/Sales High	1.95	2.48	3.99	3.79	4.09	3.98	4.05	4.99	4.44	2.01	0.63	4.22	4.2	4.43	3.58
EV/Sales Low	1.23	1.13	2.52	2.97	2.95	2.41	3.27	3.81	3.58	0.25	- -	2.93	2.64	2.37	2.6
EV/EBITDA Average	29.9	33.91	68.21	75.72	81.43	67.59	81.24	109.08	86.01	22.98	4.74	96.11	91.79	89.83	114.7
EV/EBITDA High	35.62	49.21	89.17	85.23	94.39	88.31	90.77	121.35	98.3	46.44	16	118.42	119.65	128.96	130.13
EV/EBITDA Low	22.45	22.42	56.18	66.8	68	53.52	73.28	92.68	79.12	5.67	-11.83	82.37	75.2	68.94	94.6
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	17.15	30.73	44.82	43.02	45.86	55.81	55.12	53.48	56.59	46.59	60.67	63.2	53.56	66.77	62.66
High Price	20.23	31.32	45.15	45.08	53.55	56.5	62.75	67.11	64.2	57.02	63.24	75.72	67.3	78.05	72.58
Enterprise Value Average	325	335	641	761	1,068	1,387	1,702	2,321	2,187	594	113	2,135	1,985	1,860	2,066
Enterprise Value High	387	486	838	857	1,239	1,813	1,901	2,582	2,500	1,201	383	2,630	2,588	2,670	2,343
Enterprise Value Low	244	222	528	672	892	1,099	1,535	1,972	2,012	147	-283	1,830	1,627	1,427	1,703

	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
Shares Outstanding	18	19	20	20	34	33	33	35	36	35	34	34	34	34	34
Diluted Weighted Avg Shares	17	19	19	19	24	34	33	33	35	36	35	34	34	35	35
Basic Weighted Avg Shares	17	19	19	19	24	34	33	33	35	35	35	34	34	34	34
Revenue per Share	11.88	10.53	10.84	11.68	12.71	13.48	14.26	15.78	16.14	16.98	17.54	18.2	17.94	17.49	18.98
EBITDA per Share	0.65	0.53	0.49	0.52	0.55	0.61	0.64	0.65	0.73	0.73	0.69	0.65	0.63	0.6	0.52
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	-0.04	3.21	2.39	2.79	1.9	2.52	1.85	4.16	4.2	3.29	5.81	5.7	5.35	4.9	5.67
Basic EPS from Cont Ops	0.33	3.48	2.39	2.79	1.9	2.52	1.85	4.16	4.2	3.29	5.81	5.7	5.35	4.9	5.67
Diluted EPS, GAAP	-0.04	3.2	2.38	2.79	1.89	2.52	1.84	4.15	4.18	3.26	5.76	5.67	5.33	4.88	5.64
Diluted EPS from Cont Ops	0.33	3.47	2.38	2.79	1.89	2.52	1.84	4.15	4.18	3.26	5.76	5.67	5.33	4.88	5.64
Dividend per Share	0.53	0.35	0.4	0.7	0.72	0.84	2	1.81	1.61	2.67	1.66	1.78	1.94	1.94	1.96
Cash Flow per Share	6.06	4.37	4.93	5.07	0.68	-2.24	10.54	0.94	4.29	3.56	8.71	6.95	7.49	8.51	7.47
Free Cash Flow per Basic Share	5.84	4.06	4.5	4.76	0.17	-2.72	10.17	0.23	3.58	3.19	8.41	6.52	7.06	8.11	7.2
Cash & Equivalents per Share	35.77	35.08	31.38	27.74	58.84	31.17	35.9	58.21	53.32	100.86	166.81	88.49	7.41	75.61	12.76
Book Value per Share	24.62	27.17	28.09	30.12	54.65	38.71	38.85	44.88	44.76	45.29	48.83	53.09	56.54	59.52	62.51
Tangible Book Value per Share	24.24	26.95	27.71	29.96	42.64	30.48	30.63	33.75	34.18	36.06	37.63	31.34	37.09	40.56	45.61

Banner Corporation

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)