Cambridge Bancorp Financial Ratios — CATC Stock

Profitability	2006 Y	2007 Y	2008 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 (%)	18.89	19.02	18.7	20.19	16.93	16.39	15.84	15.76	12.91	18.85	17.57	19.69	28.27	23.26	13.55
Return on Assets (%)	1.15	1.14	1.09	1.15	0.96	0.96	0.96	0.95	0.78	1.18	1.02	0.94	1.22	1.01	0.62
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 (%)	3.71	3.22	2.5	2.15	2.29	2.5	2.5	2.56	2.22	1.95	1.74	-5.09	-1.07	0.39	0.73
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	27.82	28.06	27.19	29.71	30.64	30.49	29.99	30.91	32.08	32.19	29.47	27.15	42.43	38.64	28.55
Profit Margin (%)	18.74	19.4	18.78	20.2	20.6	20.55	20.25	20.52	16.87	24.73	21.94	20.01	31.35	28.41	20.99
Net Income to Common Margin (%)	18.74	19.4	18.78	20.2	20.6	20.55	20.25	20.52	16.87	24.73	21.94	20.01	31.35	28.41	20.99
Effective Tax Rate (%)	32.62	30.88	30.93	32.02	32.79	32.62	32.48	33.62	47.41	23.18	25.54	26.3	26.11	26.48	26.5
Dvd Payout Ratio (%)	47.18	48.8	50.15	43.01	43.59	44.18	45.74	43.96	51.17	33.67	37.68	40.94	30.64	34.8	61.53
Sustainable Growth Rate (%)	9.98	9.74	9.32	11.51	9.55	9.15	8.6	8.83	6.3	12.5	10.95	11.63	19.61	15.16	5.21

Credit	2006 Y	2007 Y	2008 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	35	71	58	20	- -	69	4	4	4	93	171	103	50	133	477
ST Debt	35	36	3	- -	- -	69	- -	- -	- -	90	136	33	- -	- -	- -
LT Debt	- -	35	55	20	- -	- -	4	4	4	3	35	70	50	133	477
Total Debt/EBITDA	20.46	45.92	45.4	13.99	- -	37.97	2.02	1.78	1.84	49.48	85.2	-12.72	-27.41	182.68	400.1
Net Debt/EBITDA	10.67	33.74	34.86	-27.92	-56.15	28.38	-10.72	-23.87	-51.34	39.69	37.1	1.2	89.03	102.61	351.34
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	6.14	5.85	5.79	5.62	5.7	6.04	6.04	6.02	6.06	6.44	5.33	4.36	4.29	4.41	4.77
Long-Term Debt/Equity (%)	- -	50.22	72.33	19.07	- -	- -	3.13	2.78	2.42	2.04	12.23	17.53	11.51	25.63	89.29
Long-Term Debt/Capital (%)	- -	29.11	49.48	20.07	- -	- -	3.66	3.26	2.94	1.49	10.85	25.54	19.36	35.11	64.88
Long-Term Debt/Total Assets (%)	- -	4.12	6	1.41	- -	- -	0.23	0.2	0.18	0.16	1.23	1.78	1.03	2.39	8.81
Total Debt/Equity (%)	55.64	101.22	76.3	19.07	- -	59.35	3.13	2.78	2.42	55.92	59.58	25.75	11.51	25.63	89.29
Total Debt/Capital (%)	42.56	58.68	52.2	20.07	- -	42.06	3.66	3.26	2.94	40.85	52.86	37.51	19.36	35.11	64.88
Total Debt/Total Assets (%)	4.55	8.3	6.33	1.41	- -	4.38	0.23	0.2	0.18	4.45	5.98	2.62	1.03	2.39	8.81
Net Debt to Equity	29.02	74.36	58.58	-38.06	-80.62	44.35	-16.58	-37.35	-67.6	44.86	25.95	-2.44	-37.38	14.39	78.41
Net Debt/Capital (%)	27.87	51.06	45.61	-100.51	11,858.28	35.17	-25.19	-82.47	-550.64	35.65	28.41	-4.9	-204.37	21.46	59.65
EBITDA	2	2	1	1	2	2	2	2	2	2	2	-8	-2	1	1
EBITDA-CapEx	- -	1	-1	- -	-4	2	-3	1	1	1	- -	-10	-4	-1	- -
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity	2006 Y	2007 Y	2008 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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	6.14	5.85	5.79	5.62	5.7	6.04	6.04	6.02	6.06	6.44	5.33	4.36	4.29	4.41	4.77
Long-Term Debt/Equity (%)	- -	50.22	72.33	19.07	- -	- -	3.13	2.78	2.42	2.04	12.23	17.53	11.51	25.63	89.29
Long-Term Debt/Capital (%)	- -	29.11	49.48	20.07	- -	- -	3.66	3.26	2.94	1.49	10.85	25.54	19.36	35.11	64.88
Long-Term Debt/Total Assets (%)	- -	4.12	6	1.41	- -	- -	0.23	0.2	0.18	0.16	1.23	1.78	1.03	2.39	8.81
Total Debt/Equity (%)	55.64	101.22	76.3	19.07	- -	59.35	3.13	2.78	2.42	55.92	59.58	25.75	11.51	25.63	89.29
Total Debt/Capital (%)	42.56	58.68	52.2	20.07	- -	42.06	3.66	3.26	2.94	40.85	52.86	37.51	19.36	35.11	64.88
Total Debt/Total Assets (%)	4.55	8.3	6.33	1.41	- -	4.38	0.23	0.2	0.18	4.45	5.98	2.62	1.03	2.39	8.81
CFO/Total Liabilities	1.54	1.56	1.52	0.45	1.63	1.1	1.27	0.92	1.65	1.24	1.12	1.04	1.47	1.03	0.68
CFO/CapEx	7.48	13.68	6.18	4.13	4.37	69.1	4.05	13.34	36.89	20.8	15.19	16.59	32.22	29.25	24.12
Altman's Z-Score	0.19	0.18	0.17	0.17	0.17	0.18	0.18	0.19	0.21	0.22	0.19	0.17	0.17	0.16	0.16

Working Capital	2006 Y	2007 Y	2008 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	9.39	9.51	10.96	16.05	18.3	19.27	19.03	18.61	18.01	17.74	17.96	19.28	18.45	16	10.88
Days Sales Outstanding	38.88	38.39	33.32	22.74	19.95	18.95	19.18	19.61	20.27	20.58	20.32	18.93	19.78	22.81	33.55
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	2006 Y	2007 Y	2008 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	57	61	55	95	108	133	142	197	261	281	317	388	589	557	532
- Cash & Cash Equivalents	17	19	13	60	88	17	25	54	104	18	61	76	180	31	33
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	35	71	58	20	- -	69	4	4	4	93	171	103	50	133	477
Enterprise Value	75	113	100	-447	-368	-156	-226	-179	-44	188	286	178	261	506	839
Total Capital	83	120	111	100	87	164	107	115	122	229	323	276	260	378	736
Total Debt/Capital (%)	42.56	58.68	52.2	20.07	- -	42.06	3.66	3.26	2.94	40.85	52.86	37.51	19.36	35.11	64.88
Total Debt / EV	0.47	0.62	0.58	-0.04	- -	-0.44	-0.02	-0.02	-0.08	0.5	0.6	0.58	0.19	0.26	0.57
EV/Sales	1.63	2.38	1.94	- -	- -	- -	- -	- -	- -	1.95	2.48	1.12	1.52	2.71	5.16
EV/EBITDA	43.81	73.74	77.86	- -	- -	- -	- -	- -	- -	99.55	142.51	- -	- -	696.28	703.1
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	6.88	9.3	7.8	- -	- -	- -	- -	- -	- -	7.82	9.92	4.84	3.99	9.73	25.35
EV/Free Cash Flow to Firm	6.07	8.67	6.72	- -	- -	- -	- -	- -	- -	7.47	9.31	4.57	3.87	9.41	24.34
Diluted Market Cap	57	62	55	96	110	135	144	198	264	284	319	391	594	561	533
Diluted Enterprise Value	76	114	100	56	22	187	124	148	164	359	428	419	465	663	978
EV per Share	19.54	29.66	26.54	- -	- -	- -	- -	- -	- -	46.28	61.69	28.34	37.74	70.57	107.15
TTM Sales	46	48	51	66	69	73	78	82	88	97	115	160	172	186	163
TTM EBITDA	2	2	1	1	2	2	2	2	2	2	2	-8	-2	1	1
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	11	12	13	6	23	16	20	16	30	24	29	37	66	52	33
TTM Free Cash Flow to Firm	12	13	15	7	29	16	25	17	31	25	31	39	68	54	34

Multiples	2006 Y	2007 Y	2008 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	6.57	6.65	5.72	7.12	7.67	8.87	9.06	11.63	17.64	11.77	12.53	12.13	10.9	10.53	15.61
Price/Earnings Average	6.18	6.52	5.85	6.6	7.43	8.39	8.77	9.1	14.97	12	12.26	10.32	9.77	10.56	13.77
Price/Earnings High	13.3	13.84	11.89	10.81	11.92	12.48	13.15	14.86	23.71	16.17	15.8	15.67	12.51	12.67	19.83
Price/Earnings Low	11.35	11.05	8.58	9.17	9.94	10.27	10.54	10.7	16.73	12.76	13.06	8.7	8.95	10.51	10.24
Price/Book Value	1.2	1.24	1.03	1.2	1.24	1.39	1.38	1.77	2.21	2.08	2.08	2.25	2.81	2.27	2.06
Price/Book Value Average	1.13	1.21	1.06	1.11	1.2	1.32	1.34	1.38	1.88	2.12	2.03	1.91	2.51	2.28	1.82
Price/Book Value High	2.43	2.57	2.15	1.82	1.93	1.96	2	2.26	2.97	2.85	2.62	2.91	3.22	2.73	2.62
Price/Book Value Low	2.07	2.06	1.55	1.54	1.61	1.62	1.6	1.62	2.1	2.25	2.17	1.61	2.3	2.27	1.35
Price/Tangible Book Value	0.9	0.88	0.72	0.91	1	1.15	1.15	1.47	1.78	1.69	1.46	1.13	1.55	1.27	1.17
Price/Tangible Book Value Average	0.85	0.86	0.74	0.84	0.97	1.09	1.11	1.15	1.51	1.73	1.43	0.96	1.39	1.28	1.03
Price/Tangible Book Value High	1.83	1.84	1.5	1.38	1.55	1.61	1.66	1.88	2.39	2.33	1.85	1.46	1.78	1.53	1.48
Price/Tangible Book Value Low	1.56	1.47	1.08	1.17	1.3	1.33	1.33	1.35	1.69	1.84	1.53	0.81	1.27	1.27	0.77
Price/Sales	1.23	1.29	1.07	1.44	1.58	1.82	1.84	2.39	2.98	2.91	2.75	2.43	3.42	2.99	3.28
Price/Sales Average	1.16	1.26	1.1	1.33	1.53	1.72	1.78	1.87	2.53	2.97	2.69	2.07	3.06	3	2.89
Price/Sales High	2.49	2.68	2.23	2.18	2.46	2.56	2.66	3.05	4	4	3.47	3.14	3.92	3.6	4.16
Price/Sales Low	2.13	2.14	1.61	1.85	2.05	2.11	2.13	2.2	2.82	3.15	2.87	1.74	2.8	2.99	2.15
Price/Cash Flow	5.2	5.04	4.31	16.16	4.68	8.23	7.11	12.41	8.78	11.71	10.99	10.53	8.99	10.72	16.09
Price/Cash Flow Average	4.9	4.95	4.41	15	4.53	7.79	6.88	9.71	7.45	11.93	10.75	8.96	8.05	10.76	14.2
Price/Cash Flow High	10.54	10.5	8.97	24.56	7.27	11.58	10.31	15.85	11.8	16.07	13.86	13.61	10.32	12.9	20.44
Price/Cash Flow Low	8.99	8.39	6.47	20.82	6.06	9.54	8.26	11.42	8.33	12.68	11.45	7.55	7.38	10.7	10.56
Price/Free Cash Flow	4.61	4.73	3.72	13.15	3.87	8.26	5.78	11.66	8.62	11.27	10.39	10.02	8.8	10.44	15.48
Price/Free Cash Flow Average	4.34	4.63	3.81	12.2	3.75	7.82	5.59	9.12	7.32	11.49	10.16	8.53	7.88	10.48	13.66
Price/Free Cash Flow High	9.35	9.84	7.74	19.98	6.02	11.62	8.39	14.89	11.59	15.48	13.09	12.95	10.1	12.57	19.67
Price/Free Cash Flow Low	7.97	7.86	5.58	16.94	5.02	9.57	6.72	10.72	8.18	12.21	10.82	7.19	7.22	10.42	10.16
EV/Sales	1.63	2.38	1.94	- -	- -	- -	- -	- -	- -	1.95	2.48	1.12	1.52	2.71	5.16
EV/Sales Average	1.56	2.35	1.97	0.73	0.25	2.43	1.51	1.26	1.39	3.74	3.64	2.24	2.31	3.55	5.62
EV/Sales High	2.89	3.77	3.1	1.58	1.17	3.27	2.39	2.44	2.86	4.77	4.42	3.31	3.17	4.15	6.9
EV/Sales Low	2.52	3.23	2.48	1.25	0.76	2.82	1.87	1.58	1.68	3.93	3.82	1.91	2.05	3.53	4.88
EV/EBITDA	43.81	73.74	77.86	- -	- -	- -	- -	- -	- -	99.55	142.51	- -	- -	696.28	703.1
EV/EBITDA Average	41.88	72.95	78.88	33.98	10.77	97.37	60.4	49.08	62.54	191.49	209.09	-43.95	-216.45	910.15	766.19
EV/EBITDA High	77.81	117.02	124.32	73.44	51.26	130.99	95.93	95.25	128.98	244.19	253.72	-64.99	-297.07	1,063.79	939.51
EV/EBITDA Low	67.95	100.24	99.39	58	33.4	112.87	74.76	61.92	75.91	201.03	219.16	-37.58	-192.31	906.22	665.23
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	14.78	16.09	14.66	24.84	28.26	34.1	36.12	49.25	64.85	69.23	68.37	61.63	85.03	77.76	68
High Price	29.95	33.5	30.5	37.75	43.9	47.97	52.4	62.9	87.15	95.06	86.2	79.65	97.57	93.59	86.42
Low Price	25.55	26.75	22	32	36.6	39.5	42	45.3	61.5	75	71.24	44.2	69.77	77.62	44.62
Enterprise Value	75	113	100	-447	-368	-156	-226	-179	-44	188	286	178	261	506	839
Enterprise Value Average	72	112	101	49	17	177	117	103	122	362	419	358	398	661	914
Enterprise Value High	134	180	159	105	80	238	186	201	251	461	508	529	546	772	1,121
Enterprise Value Low	117	154	127	83	52	205	145	130	148	380	439	306	353	658	794

Per Share Data Items	2006 Y	2007 Y	2008 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
Shares Outstanding	4	4	4	4	4	4	4	4	4	4	5	7	7	8	8
Diluted Weighted Avg Shares	4	4	4	4	4	4	4	4	4	4	5	6	7	7	8
Basic Weighted Avg Shares	4	4	4	4	4	4	4	4	4	4	5	6	7	7	8
Revenue per Share	12.01	12.48	13.65	17.28	17.88	18.71	19.68	20.63	21.79	23.78	24.86	25.39	24.88	26	20.76
EBITDA per Share	0.45	0.4	0.34	0.37	0.41	0.47	0.49	0.53	0.48	0.46	0.43	-1.29	-0.27	0.1	0.15
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	2.25	2.42	2.56	3.49	3.68	3.84	3.99	4.23	3.68	5.88	5.46	5.08	7.8	7.39	4.36
Basic EPS from Cont Ops	2.25	2.42	2.56	3.49	3.68	3.84	3.99	4.23	3.68	5.88	5.46	5.08	7.8	7.39	4.36
Diluted EPS, GAAP	2.24	2.41	2.56	3.45	3.62	3.78	3.93	4.19	3.64	5.83	5.42	5.04	7.73	7.33	4.35
Diluted EPS from Cont Ops	2.24	2.41	2.56	3.45	3.62	3.78	3.93	4.19	3.64	5.83	5.42	5.04	7.73	7.33	4.35
Dividend per Share	1.06	1.18	1.29	1.5	1.61	1.7	1.82	1.86	1.88	1.98	2.06	2.08	2.39	2.57	2.68
Cash Flow per Share	2.84	3.19	3.4	1.54	6.04	4.14	5.08	3.97	7.39	5.91	6.22	5.85	9.46	7.25	4.23
Free Cash Flow per Basic Share	2.46	2.96	2.85	1.16	4.66	4.08	3.83	3.67	7.19	5.63	5.81	5.5	9.16	7	4.05
Cash & Equivalents per Share	4.37	4.9	3.59	146.43	124.22	91.91	94.42	95.15	76.57	45.95	43.56	49.74	54.57	25.71	21.82
Book Value per Share	12.32	13.01	14.17	20.74	22.76	24.45	26.17	27.89	29.32	33.3	32.89	27.4	30.3	34.23	33
Tangible Book Value per Share	16.4	18.25	20.29	27.32	28.26	29.72	31.53	33.44	36.41	40.86	46.7	54.42	54.86	61.01	58.3

Cambridge Bancorp

Profitability

Credit

Liquidity

Working Capital

Enterprise Value

Multiples

Per Share Data Items