Bio-Path Holdings, Inc. Financial Ratios — BPTH Stock

Profitability	2009 Y	2010 Y	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
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	-48.82	-61.31	-74.56	-92.65	-88	-43.97	-41.68	-58.82	-66.71	-150.54	-68.23	-55.61	-48.51	-65.2	-167.56
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	- -	- -	- -	- -	- -	- -	- -	100	100	- -	- -	- -	- -	- -	- -
EBITDA Margin (%)	- -	- -	- -	- -	- -	- -	- -	-63,623.08	-23,121.62	- -	- -	- -	- -	- -	- -
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	-65,192.31	-24,232.43	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	-2,659.46	- -	- -	- -	- -	- -
Pretax Margin (%)	- -	- -	- -	- -	- -	- -	- -	-51,923.08	-18,981.08	- -	- -	- -	- -	- -	- -
Profit Margin (%)	- -	- -	- -	- -	- -	- -	- -	-51,923.08	-18,981.08	- -	- -	- -	- -	- -	- -
Net Income to Common Margin (%)	- -	- -	- -	- -	- -	- -	- -	-51,923.08	-21,786.49	- -	- -	- -	- -	- -	- -
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	12.88	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit	2009 Y	2010 Y	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
Total Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-0.05	-0.03	-0.02	-0.02	-0.01
Net Debt/EBITDA	0.47	0.11	0.44	0.22	1.14	3.17	1.68	1.13	0.7	0.13	2.41	1.28	2.31	0.76	0.07
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-0.05	-0.03	-0.02	-0.02	-0.01
Net Debt/EBIT	0.41	0.1	0.4	0.21	1.09	3.05	1.61	1.11	0.67	0.13	2.35	1.26	2.28	0.75	0.07
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-137.47	-229.56	-293.72	-514.94	-301.51	-128.1	-235.18	-263.4	-442.04	-1,875.8	-248.61	-407.99	-292.28	-573.09	-3,341.8
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.57	1.57	0.6	0.8	2.27
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-0.59	-0.35	-0.2	-0.12	-0.01
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.46	1.43	0.58	0.71	0.31
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.97	2.19	0.92	1.56	25.62
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-0.74	-0.49	-0.3	-0.24	-0.11
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.83	2	0.88	1.38	3.51
Net Debt to Equity	-16.6	-8.34	-32.67	-26.51	-74.25	-92.91	-90.18	-113.77	-73.94	-82.43	-96.87	-91.27	-93.39	-73.26	-238.55
Net Debt/Capital (%)	10.08	3.23	9.12	4.24	18.83	41.14	25.93	22.59	13.22	2.06	26.75	17.06	23.49	10.21	0.97
EBITDA	-1	-2	-2	-2	-3	-4	-5	-8	-9	-8	-8	-11	-10	-14	-16
EBITDA-CapEx	-1	-2	-2	-2	-3	-4	-5	-9	-9	-8	-8	-11	-10	-14	-16
Operating Income (Loss)	-1	-2	-2	-3	-3	-5	-5	-8	-9	-8	-9	-11	-10	-14	-16

Liquidity	2009 Y	2010 Y	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
Cash Ratio	2.14	0.97	3.01	1.62	12.04	24.66	9.45	8.93	7.54	0.76	16.42	11.77	24.82	6.17	0.55
Current Ratio	4.72	2.61	3.65	2.34	12.44	25.12	10.24	10.15	9.4	1.61	17.68	13.65	27.29	9.27	1.6
Quick Ratio	2.14	1.96	3.01	1.62	12.04	24.66	9.45	8.93	7.54	0.76	16.42	11.77	24.82	6.17	0.55
CFO/Avg Current Liab	-5.29	-4.49	-4.09	-6.18	-7.41	-8.91	-6.68	-8.2	-8.64	-5.78	-6.5	-9.08	-9.32	-11.43	-6.43
Common Equity/Total Assets	-137.47	-229.56	-293.72	-514.94	-301.51	-128.1	-235.18	-263.4	-442.04	-1,875.8	-248.61	-407.99	-292.28	-573.09	-3,341.8
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.57	1.57	0.6	0.8	2.27
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-0.59	-0.35	-0.2	-0.12	-0.01
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.46	1.43	0.58	0.71	0.31
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.97	2.19	0.92	1.56	25.62
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-0.74	-0.49	-0.3	-0.24	-0.11
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.83	2	0.88	1.38	3.51
CFO/Total Liabilities	-591.71	-465.3	-363.75	-605.45	-784.39	-679.22	-534.15	-205.97	-1,005.94	-461.49	-531.19	-780.07	-892.62	-840.46	-415.08
CFO/CapEx	-14.25	-5	-6.76	-79.74	- -	-31.03	- -	-24.11	-14.79	-360.24	- -	- -	-141.67	-719.19	- -
Altman's Z-Score	32.82	14.2	18.28	5.47	573.14	251.69	67.37	13.53	6.04	-35.28	4.44	-1.07	9.44	-6.18	-61.64

Working Capital	2009 Y	2010 Y	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
Accounts Receivable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Sales Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	-3.05	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	-119.86	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value	2009 Y	2010 Y	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
Market Capitalization	18	17	19	21	285	237	112	125	20	2	21	13	25	11	4
- Cash & Cash Equivalents	1	- -	1	1	4	14	9	9	6	1	20	14	24	10	1
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	18	17	18	20	282	224	103	116	14	1	1	- -	2	1	3
Total Capital	-5	-7	-9	-12	-15	-20	-25	-32	-39	-48	-56	-67	-77	-91	-107
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-0.74	-0.49	-0.3	-0.24	-0.11
Total Debt / EV	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.34	8.35	0.13	0.27	0.03
EV/Sales	- -	- -	- -	- -	- -	- -	- -	8,905.38	390.46	- -	- -	- -	- -	- -	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	18	17	19	21	285	237	112	125	20	2	21	13	25	11	4
Diluted Enterprise Value	18	17	18	20	282	224	103	116	14	1	1	- -	2	1	3
EV per Share	1,666.42	1,380.18	1,329.26	1,363.99	15,800.94	10,019.09	4,605.44	4,995.47	573.29	36.37	9.17	0.21	5.4	2.28	7.3
TTM Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM EBITDA	-1	-2	-2	-2	-3	-4	-5	-8	-9	-8	-8	-11	-10	-14	-16
TTM Operating Income	-1	-2	-2	-3	-3	-5	-5	-8	-9	-8	-9	-11	-10	-14	-16
TTM Cash Flow to Firm	-2	-1	-1	-2	-2	-4	-5	-8	-8	-6	-8	-11	-10	-15	-12
TTM Free Cash Flow to Firm	-1	-1	-1	-2	-2	-4	-5	-8	-7	-6	-8	-11	-10	-15	-12

Multiples	2009 Y	2010 Y	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
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	-7.09	-9.4	-8.53	-7.71	-21.94	-57.58	-24.93	-23.97	-6.53	-1.9	-3.62	-1.72	-3.65	-1.71	-0.68
Price/Earnings High

Bio-Path Holdings, Inc.

Profitability

Credit

Liquidity

Working Capital

Enterprise Value

Multiples