BankUnited, Inc. Financial Ratios — BKU 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 (%)	23.06	59.97	43.96	34.35	34.3	25.57	50.69	20.49	17.26	10.03	19.03	11.64	6.87	8.53	9.3
Return on Assets (%)	0.57	1.78	1.52	1.19	1.17	0.87	2.11	1.04	0.96	0.58	1.17	0.78	0.49	0.65	0.76
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 (%)	1.52	2.26	3.29	4.14	5.12	5.78	5.55	5.44	8.05	8.19	8.44	7.84	7.71	5.93	4.67
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	36.61	51.77	45.12	38.52	35.02	34.34	36.5	35.16	44.89	28.18	48.33	37.87	24.68	31.22	33.09
Profit Margin (%)	12	31.71	29.64	26.83	29.68	23.11	55.43	27.48	34.79	22.36	44.63	28.77	18.6	22.94	24.55
Net Income to Common Margin (%)	12	31.13	29.64	26.83	29.68	23.11	55.43	27.48	34.79	22.36	44.63	28.77	18.6	22.94	24.55
Effective Tax Rate (%)	67.23	38.74	34.3	30.36	15.24	32.7	- -	21.84	22.5	20.66	7.66	24.03	24.64	26.52	25.82
Dvd Payout Ratio (%)	88.34	41.05	31.22	42.95	35.36	39.79	14.92	28.11	26.86	43.73	20.67	27.88	44.27	36.79	34.25
Sustainable Growth Rate (%)	2.69	35.35	30.24	19.6	22.17	15.4	43.13	14.73	12.63	5.65	15.1	8.39	3.83	5.39	6.12

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	2,236	1,925	2,414	3,319	4,411	5,642	5,174	5,199	4,910	3,845	2,626	6,141	5,824	3,639	1,875
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	2,236	1,925	2,414	3,319	4,411	5,642	5,174	5,199	4,910	3,845	2,626	6,141	5,824	3,639	1,875
Total Debt/EBITDA	280	127.86	104.14	105.18	101.66	99.96	84.06	80.89	67.79	53.04	33.46	79.11	78.64	60.53	36.75
Net Debt/EBITDA	242.37	95.22	93.33	99.11	95.26	91.85	80.75	74.82	64.36	47.1	29.06	71.37	70.34	51.95	32.03
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	2.45	3.35	3.56	3.4	3.41	3.41	4.85	5.28	5.87	5.75	6.55	6.89	7.41	7.94	8.48
Long-Term Debt/Equity (%)	145.66	106.55	125.18	161.68	196.58	233.3	170.98	177.81	164.72	128.91	86.46	252.09	225.92	129.29	61.39
Long-Term Debt/Capital (%)	88.97	82.29	81.82	83.57	84.41	85.58	77.84	75.37	71.8	65.62	52.82	70.64	68.71	56.54	38.68
Long-Term Debt/Total Assets (%)	19.75	15.56	16.05	17.27	18.47	20.24	17.05	16.16	14.94	10.98	7.33	16.59	16.29	10.32	5.35
Total Debt/Equity (%)	145.66	106.55	125.18	161.68	196.58	233.3	170.98	177.81	164.72	128.91	86.46	252.09	225.92	129.29	61.39
Total Debt/Capital (%)	88.97	82.29	81.82	83.57	84.41	85.58	77.84	75.37	71.8	65.62	52.82	70.64	68.71	56.54	38.68
Total Debt/Total Assets (%)	19.75	15.56	16.05	17.27	18.47	20.24	17.05	16.16	14.94	10.98	7.33	16.59	16.29	10.32	5.35
Net Debt to Equity	126.09	79.35	112.18	152.35	184.2	214.36	164.24	164.45	156.37	114.49	75.1	227.42	202.07	110.96	53.51
Net Debt/Capital (%)	87.47	77.58	80.14	82.5	83.36	84.37	77.03	73.8	70.37	62.52	48.98	68.22	66.04	52.53	35.3
EBITDA	8	15	23	32	43	56	62	64	72	73	78	78	74	60	51
EBITDA-CapEx	-35	-56	-161	-95	-144	-32	-38	-126	9	53	34	78	74	60	51
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	2.45	3.35	3.56	3.4	3.41	3.41	4.85	5.28	5.87	5.75	6.55	6.89	7.41	7.94	8.48
Long-Term Debt/Equity (%)	145.66	106.55	125.18	161.68	196.58	233.3	170.98	177.81	164.72	128.91	86.46	252.09	225.92	129.29	61.39
Long-Term Debt/Capital (%)	88.97	82.29	81.82	83.57	84.41	85.58	77.84	75.37	71.8	65.62	52.82	70.64	68.71	56.54	38.68
Long-Term Debt/Total Assets (%)	19.75	15.56	16.05	17.27	18.47	20.24	17.05	16.16	14.94	10.98	7.33	16.59	16.29	10.32	5.35
Total Debt/Equity (%)	145.66	106.55	125.18	161.68	196.58	233.3	170.98	177.81	164.72	128.91	86.46	252.09	225.92	129.29	61.39
Total Debt/Capital (%)	88.97	82.29	81.82	83.57	84.41	85.58	77.84	75.37	71.8	65.62	52.82	70.64	68.71	56.54	38.68
Total Debt/Total Assets (%)	19.75	15.56	16.05	17.27	18.47	20.24	17.05	16.16	14.94	10.98	7.33	16.59	16.29	10.32	5.35
CFO/Total Liabilities	-2.54	-3.33	-0.51	-0.29	1.01	1.21	1.17	2.82	2.13	2.7	3.72	3.74	1.98	1.34	1.12
CFO/CapEx	-5.84	-4.94	-0.36	-0.39	1.17	3.48	3.2	4.33	9.97	44.1	27.62	- -	- -	- -	- -
Altman's Z-Score	0.21	0.23	0.25	0.19	0.19	0.17	0.2	0.17	0.18	0.17	0.19	0.17	0.17	0.19	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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
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)

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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	2,099	2,289	3,242	2,910	3,680	3,880	4,295	3,106	3,490	3,190	3,825	2,677	2,378	2,809	3,295
- Cash & Cash Equivalents	301	491	251	181	268	448	195	382	215	398	315	573	588	491	218
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	2,236	1,925	2,414	3,319	4,411	5,642	5,174	5,199	4,910	3,845	2,626	6,141	5,824	3,639	1,875
Enterprise Value	-147	-450	1,769	1,462	2,964	3,000	2,593	7,923	8,185	6,637	6,136	8,245	7,614	-3,174	-4,312
Total Capital	2,514	2,339	2,951	3,971	5,226	6,593	6,647	6,898	6,839	5,860	4,973	8,693	8,476	6,436	4,846
Total Debt/Capital (%)	88.97	82.29	81.82	83.57	84.41	85.58	77.84	75.37	71.8	65.62	52.82	70.64	68.71	56.54	38.68
Total Debt / EV	-15.2	-4.28	1.36	2.27	1.49	1.88	2	0.66	0.6	0.58	0.43	0.74	0.76	-1.15	-0.43
EV/Sales	- -	- -	2.51	1.92	3.5	3.07	2.34	6.7	9.09	7.5	6.6	8.32	7.93	5.86	- -
EV/EBITDA	- -	- -	76.3	46.34	68.32	53.15	42.13	123.28	113.01	91.54	78.17	106.22	102.8	98.74	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	13.51	9.72	8.14	9.61	12.88	7.68	5.03	6.37	11.58	13.68	- -
EV/Free Cash Flow to Firm	- -	- -	15.12	18.97	7.29	7.56	6.2	7.81	11.7	7.51	4.85	6.37	11.58	13.68	- -
Diluted Market Cap	2,102	2,293	3,284	2,914	3,713	3,907	4,311	3,116	3,497	3,190	3,825	2,677	2,384	2,824	3,312
Diluted Enterprise Value	4,038	3,727	5,447	6,052	7,857	9,101	9,290	7,933	8,192	6,638	6,136	8,245	7,620	5,971	4,969
EV per Share	- -	- -	17.96	14.56	29.04	29.14	24.59	76.37	85.75	72.38	67.88	104.63	103.83	80.65	- -
TTM Sales	526	666	705	761	848	977	1,108	1,182	900	885	930	991	961	1,013	1,093
TTM EBITDA	8	15	23	32	43	56	62	64	72	73	78	78	74	60	51
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	-249	-352	-67	-50	219	309	319	824	636	864	1,220	1,294	657	434	359
TTM Free Cash Flow to Firm	-206	-280	117	77	407	397	418	1,015	699	884	1,264	1,294	657	434	359

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	-10.21	-8.18	28.07	37.8	9.13	9.84	10.31	3.07	5	3.61	3.03	2.07	3.63	6.51	9.23
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-147	-450	1,769	1,462	2,964	3,000	2,593	7,923	8,185	6,637	6,136	8,245	7,614	-3,174	-4,312
Low Price	18.92	21.66	24.17	27.4	26.69	27.85	30.37	28.05	29.42	13.47	33.74	31.44	15.83	24.34	28.21
EV/Sales	- -	- -	2.51	1.92	3.5	3.07	2.34	6.7	9.09	7.5	6.6	8.32	7.93	5.86	- -
EV/EBITDA	- -	- -	76.3	46.34	68.32	53.15	42.13	123.28	113.01	91.54	78.17	106.22	102.8	98.74	- -
Price/Earnings	33.23	11.04	15.52	14.25	14.62	17.19	6.99	9.56	11.15	16.12	9.22	9.39	13.31	12.08	12.28
Price/Earnings Average	37.85	10.81	13.34	15.64	14.02	14.9	6.12	12.35	10.4	11.39	9.24	10.76	10.74	10.29	10.38
Price/Earnings High	45.18	11.89	15.72	17.54	16.21	17.54	7.15	14.36	11.46	17.05	11.05	12.93	16.51	14.07	12.93
Price/Earnings Low	28.59	9.78	11.39	13.48	10.82	12.7	5.21	8.96	8.97	6.24	7.35	8.69	6.5	7.71	7.77
Price/Book Value	7.57	5.52	6.05	4.46	4.52	4.08	2.92	1.83	1.81	1.58	1.63	1.05	0.9	1	1.11
Price/Book Value Average	8.62	5.41	5.2	4.89	4.33	3.54	2.55	2.36	1.69	1.12	1.63	1.2	0.72	0.86	0.94
Price/Book Value High	10.3	5.95	6.12	5.49	5.01	4.17	2.98	2.75	1.86	1.67	1.95	1.44	1.11	1.17	1.17
Price/Book Value Low	6.52	4.9	4.44	4.22	3.34	3.02	2.17	1.71	1.46	0.61	1.3	0.97	0.44	0.64	0.7
Price/Tangible Book Value	1.43	1.32	1.74	1.47	1.7	1.66	1.46	1.09	1.2	1.1	1.29	1.14	0.95	1.03	1.11
Price/Tangible Book Value Average	1.63	1.29	1.5	1.61	1.63	1.44	1.27	1.41	1.12	0.78	1.29	1.3	0.77	0.87	0.94
Price/Tangible Book Value High	1.95	1.42	1.77	1.8	1.88	1.69	1.49	1.64	1.24	1.16	1.55	1.56	1.18	1.2	1.17
Price/Tangible Book Value Low	1.23	1.17	1.28	1.39	1.26	1.22	1.09	1.02	0.97	0.43	1.03	1.05	0.46	0.65	0.7
Price/Sales	3.99	3.44	4.6	3.82	4.34	3.97	3.88	2.63	3.88	3.6	4.11	2.7	2.48	2.77	3.01
Price/Sales Average	4.54	3.36	3.96	4.2	4.16	3.44	3.39	3.39	3.62	2.55	4.12	3.09	2	2.36	2.55
Price/Sales High	5.42	3.7	4.66	4.7	4.81	4.05	3.96	3.95	3.99	3.81	4.93	3.72	3.07	3.23	3.17
Price/Sales Low	3.43	3.05	3.38	3.62	3.21	2.93	2.89	2.46	3.12	1.4	3.28	2.5	1.21	1.77	1.91
Price/Cash Flow	-8.44	-6.51	-48.32	-58.5	16.77	12.58	13.48	3.77	5.49	3.69	3.13	2.07	3.62	6.48	9.19
Price/Cash Flow Average	-9.62	-6.37	-41.55	-64.21	16.08	10.9	11.8	4.87	5.12	2.61	3.14	2.37	2.92	5.52	7.77
Price/Cash Flow High	-11.48	-7.01	-48.93	-71.99	18.59	12.84	13.78	5.66	5.65	3.9	3.76	2.85	4.49	7.54	9.67
Price/Cash Flow Low	-7.26	-5.77	-35.47	-55.33	12.41	9.29	10.05	3.53	4.42	1.43	2.5	1.92	1.77	4.13	5.82
Price/Free Cash Flow Average	-11.62	-8	24.14	41.49	8.75	8.53	9.02	3.97	4.66	2.55	3.03	2.37	2.93	5.55	7.81
Price/Free Cash Flow High	-13.88	-8.81	28.43	46.52	10.12	10.04	10.54	4.61	5.14	3.82	3.63	2.85	4.5	7.58	9.72
Price/Free Cash Flow Low	-8.78	-7.25	20.61	35.76	6.76	7.27	7.69	2.88	4.02	1.4	2.41	1.92	1.77	4.15	5.85
EV/Sales Average	8.22	5.52	7.03	8.32	9.05	8.76	7.88	7.47	8.83	6.44	6.61	8.72	7.45	5.47	4.06
EV/Sales High	9.1	5.85	7.73	8.83	9.7	9.37	8.46	8.02	9.2	7.71	7.42	9.34	8.52	6.33	4.69
EV/Sales Low	7.11	5.2	6.45	7.74	8.1	8.25	7.38	6.54	8.34	5.29	5.77	8.12	6.66	4.87	3.42
EV/EBITDA Average	541.69	244.04	213.59	200.68	176.81	151.6	141.96	137.38	109.77	78.63	78.27	111.22	96.61	92.17	87.07
EV/EBITDA High	599.71	259.01	234.97	212.95	189.51	162.18	152.25	147.54	114.38	94.08	87.84	119.2	110.52	106.78	100.47
EV/EBITDA Low	468.48	229.96	196.01	186.68	158.27	142.81	132.93	120.23	103.6	64.59	68.3	103.65	86.37	82.16	73.35
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	21.99	24.44	32.92	28.97	36.06	37.69	40.72	29.94	36.56	34.78	42.31	33.97	32.43	38.17	44.57
High Price	29.9	26.33	33.34	35.65	39.97	38.47	41.64	44.97	37.6	36.79	50.71	46.75	40.22	44.45	46.92
Enterprise Value Average	4,326	3,674	4,952	6,332	7,672	8,557	8,738	8,829	7,950	5,701	6,144	8,633	7,155	5,540	4,442
Enterprise Value High	4,790	3,900	5,447	6,719	8,223	9,154	9,371	9,482	8,284	6,822	6,896	9,253	8,185	6,419	5,125
Enterprise Value Low	3,742	3,462	4,544	5,890	6,867	8,061	8,182	7,727	7,503	4,683	5,362	8,046	6,396	4,939	3,742

	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	98	95	101	102	104	104	107	99	95	93	86	76	74	75	74
Diluted Weighted Avg Shares	96	94	100	101	103	104	106	104	96	92	90	79	74	74	74
Basic Weighted Avg Shares	95	94	98	100	102	103	105	104	95	92	90	79	73	74	74
Revenue per Share	5.52	7.11	7.16	7.58	8.31	9.49	10.51	11.39	9.43	9.65	10.29	12.57	13.1	13.77	14.79
EBITDA per Share	0.08	0.16	0.24	0.31	0.43	0.55	0.58	0.62	0.76	0.79	0.87	0.98	1.01	0.82	0.69
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	0.66	2.21	2.12	2.03	2.47	2.19	5.82	3.13	3.28	2.16	4.59	3.62	2.44	3.16	3.63
Basic EPS from Cont Ops	0.66	2.26	2.12	2.03	2.47	2.19	5.82	3.13	3.28	2.16	4.59	3.62	2.44	3.16	3.63
Diluted EPS, GAAP	0.66	2.21	2.09	2.03	2.44	2.18	5.8	3.12	3.27	2.16	4.59	3.62	2.43	3.14	3.61
Diluted EPS from Cont Ops	0.66	2.25	2.09	2.03	2.44	2.18	5.8	3.12	3.27	2.16	4.59	3.62	2.43	3.14	3.61
Dividend per Share	0.58	0.95	0.66	0.87	0.87	0.87	0.87	0.88	0.88	0.94	0.95	1.01	1.08	1.16	1.24
Cash Flow per Share	-2.6	-3.75	-0.68	-0.5	2.15	3	3.02	7.94	6.66	9.42	13.5	16.42	8.97	5.89	4.85
Free Cash Flow per Basic Share	-3.05	-4.51	-2.55	-1.76	0.32	2.14	2.08	6.11	5.99	9.21	13.01	16.42	8.97	5.89	4.85
Cash & Equivalents per Share	46.96	49.8	39.47	47.45	50.24	63.36	65.19	3.68	2.25	4.34	3.48	7.27	8.02	130.73	128.26
Book Value per Share	2.9	4.42	5.44	6.5	7.98	9.24	13.96	16.37	20.21	21.97	25.95	32.38	36.16	38.01	40.2
Tangible Book Value per Share	15.36	18.55	18.88	19.75	21.22	22.74	27.95	27.43	30.41	31.68	32.74	29.93	34.1	37.19	40.26

BankUnited, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)