Bank First Corporation Financial Ratios — BFC 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 (%)	9.61	11.03	11.7	11.98	11.75	12.1	10.59	15.15	13.2	14.49	14.72	11.66	13.89	10.41	11.14
Return on Assets (%)	0.98	1.08	1.11	1.17	1.14	1.17	1	1.44	1.33	1.54	1.61	1.37	1.89	1.5	1.59
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 (%)	3.02	2.65	2.63	2.4	2.24	2.08	2.44	2.69	3.02	3.08	2.94	3.36	6.11	5.2	4.36
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	34.07	38.11	43.47	46.94	49.43	51.33	46.82	46.01	44.16	48.35	55.28	50.4	71.87	51.42	51.83
Profit Margin (%)	25.53	27.41	30.46	31.38	32.86	33.84	29.7	36.54	34.38	36.88	41.89	38.21	54.2	42.4	42.03
Net Income to Common Margin (%)	25.53	27.41	30.46	31.38	32.86	33.84	29.7	36.54	34.38	36.88	41.89	38.21	54.2	42.4	42.03
Effective Tax Rate (%)	25.05	28.08	29.93	33.15	33.52	34.07	36.56	20.58	22.15	23.72	24.22	24.18	24.58	17.54	18.91
Dvd Payout Ratio (%)	32.51	55.45	12.15	23.07	23.95	24.58	26.42	17.8	20.47	16.16	19.22	17.3	16.05	23.74	73.43
Sustainable Growth Rate (%)	6.49	4.91	10.28	9.22	8.94	9.13	7.79	12.45	10.5	12.15	11.89	9.64	11.66	7.94	2.96

Credit (USD)

Credit Ratios API ChatGPT

	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	4	3	2	- -	- -	- -	20	12	68	41	26	25	51	147	122
ST Debt	- -	1	- -	- -	- -	- -	5	- -	- -	- -	- -	- -	- -	- -	30
LT Debt	4	2	2	- -	- -	- -	15	12	68	41	26	25	51	147	92
Total Debt/EBITDA	3.66	2.8	1.82	- -	- -	- -	15.9	6.14	29.21	12.92	8.01	6.4	6.12	18.32	16.44
Net Debt/EBITDA	-35.9	-107.48	-32.9	-42.5	-30.78	-43.91	-26.31	-27.65	6.56	-40.75	-85.2	-23.63	-23.35	-14.16	-16.34
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	10.2	9.42	9.57	9.87	9.61	9.69	9.22	9.72	10.42	10.85	10.98	12.38	14.68	14.23	14.29
Long-Term Debt/Equity (%)	3.99	2.09	1.79	- -	- -	- -	9.27	6.6	29.72	13.89	7.91	5.61	8.29	23.04	14.28
Long-Term Debt/Capital (%)	3.83	2.03	1.76	- -	- -	- -	8.25	6.19	22.91	12.2	7.33	5.31	7.66	18.72	12.01
Long-Term Debt/Total Assets (%)	0.41	0.2	0.17	- -	- -	- -	0.86	0.64	3.1	1.51	0.87	0.69	1.22	3.28	2.04
Total Debt/Equity (%)	3.99	2.93	1.79	- -	- -	- -	12.37	6.6	29.72	13.89	7.91	5.61	8.29	23.04	18.94
Total Debt/Capital (%)	3.83	2.85	1.76	- -	- -	- -	11.01	6.19	22.91	12.2	7.33	5.31	7.66	18.72	15.93
Total Debt/Total Assets (%)	0.41	0.28	0.17	- -	- -	- -	1.14	0.64	3.1	1.51	0.87	0.69	1.22	3.28	2.71
Net Debt to Equity	-39.14	-112.75	-32.36	-37.64	-23.6	-31.61	-20.47	-29.69	6.67	-43.83	-84.1	-20.73	-31.64	-17.82	-18.83
Net Debt/Capital (%)	-64.31	884.56	-47.85	-60.37	-30.89	-46.21	-25.73	-42.24	6.25	-78.05	-528.9	-26.15	-46.27	-21.68	-23.2
EBITDA	1	1	1	1	1	1	1	2	2	3	3	4	8	8	7
EBITDA-CapEx	-1	-1	- -	-2	-2	- -	-2	-6	-5	-5	-6	-3	-5	1	-4
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

Liquidity Ratios API ChatGPT

	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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	10.2	9.42	9.57	9.87	9.61	9.69	9.22	9.72	10.42	10.85	10.98	12.38	14.68	14.23	14.29
Long-Term Debt/Equity (%)	3.99	2.09	1.79	- -	- -	- -	9.27	6.6	29.72	13.89	7.91	5.61	8.29	23.04	14.28
Long-Term Debt/Capital (%)	3.83	2.03	1.76	- -	- -	- -	8.25	6.19	22.91	12.2	7.33	5.31	7.66	18.72	12.01
Long-Term Debt/Total Assets (%)	0.41	0.2	0.17	- -	- -	- -	0.86	0.64	3.1	1.51	0.87	0.69	1.22	3.28	2.04
Total Debt/Equity (%)	3.99	2.93	1.79	- -	- -	- -	12.37	6.6	29.72	13.89	7.91	5.61	8.29	23.04	18.94
Total Debt/Capital (%)	3.83	2.85	1.76	- -	- -	- -	11.01	6.19	22.91	12.2	7.33	5.31	7.66	18.72	15.93
Total Debt/Total Assets (%)	0.41	0.28	0.17	- -	- -	- -	1.14	0.64	3.1	1.51	0.87	0.69	1.22	3.28	2.71
CFO/Total Liabilities	1.65	1.68	1.42	1.65	1.13	1.21	1.15	1.42	1.14	1.81	1.54	1.25	1.47	1.71	1.62
CFO/CapEx	8.78	8.26	16.57	5.59	4.1	11.33	6.49	2.91	3.12	5.25	4.62	5.82	3.93	9.11	5.46
Altman's Z-Score	0.24	0.23	0.25	0.27	0.27	0.28	0.26	0.29	0.31	0.28	0.29	0.31	0.31	0.32	0.36

Working Capital (USD)

Working Capital Ratios API ChatGPT

	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

- -

Days Sales Outstanding

- -

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)

Enterprise Value API ChatGPT

	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	92	99	121	142	177	207	304	308	496	500	550	837	898	992	1,198
- Cash & Cash Equivalents	40	111	35	41	28	40	53	63	53	170	297	119	247	261	243
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	4	3	2	- -	- -	- -	20	12	68	41	26	25	51	147	122
Enterprise Value	52	-127	-21	26	52	55	152	137	326	205	66	438	542	655	983
Total Capital	97	99	103	109	119	128	182	186	299	336	348	479	671	787	766
Total Debt/Capital (%)	3.83	2.85	1.76	- -	- -	- -	11.01	6.19	22.91	12.2	7.33	5.31	7.66	18.72	15.93
Total Debt / EV	0.07	-0.02	-0.09	- -	- -	- -	0.13	0.08	0.21	0.2	0.39	0.06	0.09	0.22	0.12
EV/Sales	1.56	- -	- -	0.64	1.27	1.26	2.95	1.97	4.19	1.99	0.61	3.71	3.94	4.24	5.78
EV/EBITDA	51.74	- -	- -	26.7	56.62	60.32	120.88	73.38	139.07	64.77	20.78	110.33	64.57	81.42	132.43
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	3.87	- -	- -	1.57	4.09	3.84	8.3	5.96	14.38	4.67	1.64	10.96	10.24	9.95	15.73
EV/Free Cash Flow to Firm	3.48	- -	- -	1.33	3.29	3.53	7.19	4.43	10.89	3.93	1.35	9.35	8.16	8.96	13.29
Diluted Market Cap	92	102	123	144	178	207	281	311	482	485	552	749	884	999	1,205
Diluted Enterprise Value	56	-6	90	103	150	167	248	259	497	356	281	655	688	886	1,084
EV per Share	7.95	- -	- -	4.12	8.24	8.92	22.34	20.78	45.97	26.65	8.69	48.6	52.31	65.43	99.93
TTM Sales	33	38	38	40	41	44	52	70	78	103	108	118	137	155	170
TTM EBITDA	1	1	1	1	1	1	1	2	2	3	3	4	8	8	7
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	14	16	14	16	13	14	18	23	23	44	40	40	53	66	62
TTM Free Cash Flow to Firm	15	17	14	19	16	16	21	31	30	52	49	47	66	73	74

Multiples (USD)

Valuation Multiples API ChatGPT

	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	6.13	5.85	8.5	7.41	11.33	13.22	13.29	10.04	16.1	9.27	11.27	15.98	13.31	13.68	16.3
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	52	-127	-21	26	52	55	152	137	326	205	66	438	542	655	983
Low Price	11.8	13.6	15	18	21.85	25	33.1	43.7	35.02	43.63	64.01	68.28	65	74.9	92.49
EV/Sales	1.56	- -	- -	0.64	1.27	1.26	2.95	1.97	4.19	1.99	0.61	3.71	3.94	4.24	5.78
EV/EBITDA	51.74	- -	- -	26.7	56.62	60.32	120.88	73.38	139.07	64.77	20.78	110.33	64.57	81.42	132.43
Price/Earnings	10.8	9.8	10.62	11.38	13.27	13.9	18.35	12.22	17.75	12.68	12.12	16.52	11.83	15.24	16.85
Price/Earnings Average	10.69	9.31	9.02	10.23	11.27	11.98	15.24	13.29	15.78	12.07	11.85	13.8	10.88	13.58	16.1
Price/Earnings High	11.84	10.11	11.01	11.93	13.86	13.97	18.37	15.34	19.5	14.01	12.91	17.76	12.72	17	19.33
Price/Earnings Low	9.1	8.6	8.39	9.04	10.26	10.43	13.59	11.46	8.88	8.53	10.74	12.15	8.87	11.52	12.8
Price/Book Value	0.99	1.03	1.19	1.3	1.49	1.62	1.88	1.77	2.15	1.69	1.71	1.85	1.45	1.55	1.86
Price/Book Value Average	0.98	0.98	1.01	1.17	1.26	1.4	1.56	1.92	1.92	1.61	1.67	1.54	1.33	1.38	1.78
Price/Book Value High	1.09	1.06	1.24	1.36	1.55	1.63	1.88	2.22	2.37	1.87	1.82	1.99	1.56	1.73	2.13
Price/Book Value Low	0.84	0.9	0.94	1.03	1.15	1.22	1.39	1.66	1.08	1.14	1.51	1.36	1.09	1.17	1.41
Price/Tangible Book Value	1.11	1.15	1.33	1.44	1.63	1.77	2.16	2	2.8	2.17	2.13	2.65	2.22	2.31	2.73
Price/Tangible Book Value Average	1.1	1.09	1.13	1.29	1.38	1.52	1.79	2.18	2.49	2.07	2.08	2.21	2.05	2.06	2.61
Price/Tangible Book Value High	1.22	1.19	1.38	1.51	1.7	1.78	2.16	2.51	3.08	2.4	2.27	2.85	2.39	2.57	3.13
Price/Tangible Book Value Low	0.94	1.01	1.05	1.14	1.26	1.33	1.6	1.88	1.4	1.46	1.89	1.95	1.67	1.74	2.07
Price/Sales	2.76	2.69	3.24	3.57	4.36	4.71	5.45	4.46	6.1	4.68	5.08	6.31	6.41	6.46	7.08
Price/Sales Average	2.73	2.55	2.75	3.21	3.7	4.05	4.53	4.86	5.43	4.45	4.97	5.27	5.9	5.76	6.77
Price/Sales High	3.02	2.77	3.35	3.74	4.55	4.73	5.46	5.6	6.7	5.17	5.41	6.79	6.89	7.21	8.12
Price/Sales Low	2.32	2.36	2.55	2.84	3.37	3.53	4.04	4.19	3.05	3.15	4.5	4.64	4.81	4.89	5.38
Price/Cash Flow	6.83	6.56	9.02	8.73	14.09	14.38	15.33	13.49	20.92	10.97	13.67	18.66	16.65	15.18	19.29
Price/Cash Flow Average	6.76	6.23	7.66	7.85	11.97	12.39	12.74	14.68	18.6	10.45	13.37	15.6	15.32	13.52	18.42
Price/Cash Flow High	7.49	6.77	9.35	9.16	14.71	14.46	15.35	16.94	22.98	12.12	14.57	20.08	17.9	16.93	22.12
Price/Cash Flow Low	5.75	5.76	7.12	6.94	10.9	10.79	11.36	12.65	10.47	7.38	12.11	13.73	12.49	11.47	14.64
Price/Free Cash Flow Average	6.07	5.56	7.23	6.66	9.62	11.39	11.03	10.92	14.31	8.82	11.02	13.35	12.24	12.19	15.57
Price/Free Cash Flow High	6.72	6.04	8.82	7.77	11.83	13.28	13.3	12.6	17.68	10.24	12.01	17.19	14.3	15.25	18.69
Price/Free Cash Flow Low	5.17	5.14	6.71	5.89	8.76	9.91	9.84	9.41	8.05	6.24	9.98	11.75	9.98	10.34	12.38
EV/Sales Average	1.64	- -	1.85	2.15	3	3.13	4.26	4.07	5.88	3.36	2.46	5.12	4.58	4.98	6.01
EV/Sales High	1.94	- -	2.45	2.68	3.85	3.81	5.27	4.81	7.21	4.1	2.9	6.82	5.6	6.42	7.36
EV/Sales Low	1.24	- -	1.66	1.78	2.67	2.61	3.73	3.4	3.39	2.01	1.99	4.41	3.47	4.11	4.63
EV/EBITDA Average	54.32	-14.19	70.26	89.48	134.14	150.37	174.52	151.39	194.85	109.27	83.82	152.47	75.05	95.68	137.85
EV/EBITDA High	64.03	-6.14	93	111.4	171.96	182.74	215.78	178.92	239.18	133.3	98.94	203.02	91.63	123.33	168.81
EV/EBITDA Low	40.92	-21.34	62.96	74.14	119.38	125.24	152.76	126.66	112.49	65.29	67.88	131.37	56.88	79.04	106.23
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	14	15.5	19	22.65	28.25	33.33	44.7	46.6	70.01	64.82	72.24	92.82	86.66	99.09	121.82
High Price	15.35	16	19.7	23.75	29.5	33.5	44.75	58.5	76.9	71.61	77	99.84	93.15	110.49	139.71
Enterprise Value Average	55	-14	70	86	122	138	220	283	456	347	267	606	630	770	1,023
Enterprise Value High	65	-6	93	108	157	168	271	335	560	423	315	807	769	992	1,253
Enterprise Value Low	41	-22	63	72	109	115	192	237	263	207	216	522	478	636	788

Shares Outstanding	7	6	6	6	6	6	7	7	7	8	8	9	10	10	10
Diluted Weighted Avg Shares	7	7	6	6	6	6	6	7	7	7	8	8	10	10	10
Basic Weighted Avg Shares	7	7	6	6	6	6	6	7	7	7	8	8	10	10	10
Revenue per Share	5.08	5.77	5.87	6.35	6.48	7.08	8.2	10.44	11.47	13.86	14.23	14.71	13.51	15.33	17.2
EBITDA per Share	0.15	0.15	0.15	0.15	0.14	0.15	0.2	0.28	0.35	0.43	0.42	0.49	0.83	0.8	0.75
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	1.3	1.58	1.79	1.99	2.13	2.4	2.44	3.81	3.94	5.11	5.96	5.62	7.32	6.5	7.23
Basic EPS from Cont Ops	1.3	1.58	1.79	1.99	2.13	2.4	2.44	3.81	3.94	5.11	5.96	5.62	7.32	6.5	7.23
Diluted EPS, GAAP	1.3	1.58	1.79	1.99	2.13	2.4	2.44	3.81	3.88	5.09	5.95	5.6	7.31	6.5	7.23
Diluted EPS from Cont Ops	1.3	1.58	1.79	1.99	2.13	2.4	2.44	3.81	3.88	5.09	5.95	5.6	7.31	6.5	7.23
Dividend per Share	0.42	0.88	0.22	0.46	0.51	0.59	0.64	0.68	0.81	0.83	1.15	0.97	1.18	1.54	5.31
Cash Flow per Share	2.05	2.36	2.11	2.59	2.01	2.32	2.91	3.45	3.35	5.91	5.29	4.97	5.2	6.53	6.32
Free Cash Flow per Basic Share	1.82	2.08	1.98	2.13	1.52	2.11	2.47	2.27	2.27	4.78	4.14	4.12	3.88	5.81	5.16
Cash & Equivalents per Share	6.61	35.89	22.61	18.53	20.01	24.41	25.29	27.56	33.69	43.49	66.9	47.04	39.31	48.38	34.29
Book Value per Share	14.09	15.05	15.91	17.42	18.97	20.53	23.76	26.37	32.49	38.25	42.36	50.22	59.8	63.89	65.47
Tangible Book Value per Share	12.6	13.47	14.26	15.76	17.33	18.86	20.73	23.3	25	29.86	33.91	35.08	38.98	42.95	44.63

Bank First Corporation