Commencement Bancorp Inc. Financial Ratios — CBWA Stock

Profitability (USD)

	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 (%)	- -	- -	105.59	42.7	41.98	69.22	57.38	53.97	47.97	40.77	17.24	14.88	27.28
Return on Assets (%)	- -	0.54	0.66	0.45	0.63	1.47	1.28	0.88	0.79	0.99	0.52	0.49	1.01
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	3.8	4.53	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	19.02	23.32	26.41	2.1	3.13	2.8	5.31	5.86	5.33	4.42	4.48	4.4	3.93
Operating Margin (%)	15.93	20.71	24.08	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	45.49	67.68	-98.92	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	15.93	20.71	24.08	21.45	33.14	41.43	37.79	30.37	27.84	33.83	18.73	18.07	30.36
Profit Margin (%)	27.2	14.44	16.64	13.92	15.44	32.91	30.83	24.22	22.42	27.56	15.52	14.99	24.41
Net Income to Common Margin (%)	27.2	14.44	16.64	13.92	15.44	32.91	30.83	24.22	22.42	27.56	15.52	14.99	24.41
Effective Tax Rate (%)	- -	30.3	30.91	35.12	53.42	20.58	18.43	20.26	19.49	18.54	17.12	17.02	19.62
Dvd Payout Ratio (%)	- -	- -	13.57	- -	- -	- -	- -	- -	- -	- -	- -	26.13	- -
Sustainable Growth Rate (%)	- -	- -	91.26	42.7	41.98	69.22	57.38	53.97	47.97	40.77	17.24	10.99	27.28

Credit (USD)

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	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	3	3	3	6	5	1	- -	- -	- -	27	- -	- -	- -
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	3	3	3	6	5	1	- -	- -	- -	27	- -	- -	- -
Total Debt/EBITDA	3.15	2.15	1.77	33.93	11.77	1.97	- -	- -	- -	30.51	- -	- -	- -
Net Debt/EBITDA	-28.14	-15.21	-0.59	-172.02	-54.24	-80.35	-52.36	-52.02	-18.72	15.16	-14.6	-66.05	-18.81
Total Debt/EBIT	3.76	2.42	1.94	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	-33.59	-17.12	-0.64	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-0.19	0.35	0.88	1.16	1.86	2.36	2.12	1.27	2.03	2.78	3.28	3.28	4.08
Long-Term Debt/Equity (%)	15.57	14.87	14.2	17.18	13.51	1.99	- -	- -	- -	57.55	- -	- -	- -
Long-Term Debt/Capital (%)	111.58	84.48	67.02	60.36	45.29	9.1	- -	- -	- -	62.42	- -	- -	- -
Long-Term Debt/Total Assets (%)	1.88	1.91	1.79	1.77	1.54	0.24	- -	- -	- -	4.62	- -	- -	- -
Total Debt/Equity (%)	15.57	14.87	14.2	17.18	13.51	1.99	- -	- -	- -	57.55	- -	- -	- -
Total Debt/Capital (%)	111.58	84.48	67.02	60.36	45.29	9.1	- -	- -	- -	62.42	- -	- -	- -
Total Debt/Total Assets (%)	1.88	1.91	1.79	1.77	1.54	0.24	- -	- -	- -	4.62	- -	- -	- -
Net Debt to Equity	-139.08	-105.02	-4.71	-87.11	-62.3	-81.18	-90.46	-97.99	-34.77	28.59	-25.67	-113.42	-33.74
Net Debt/Capital (%)	98.85	102.67	-207.02	114.88	135.5	132.42	123.64	115.17	237.12	45.21	-202.44	157.45	-267.6
EBITDA	1	1	2	- -	- -	- -	1	1	1	1	1	1	1
EBITDA-CapEx	1	1	2	-2	- -	- -	-2	1	1	1	1	- -	- -
Operating Income (Loss)	1	1	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	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	-0.19	0.35	0.88	1.16	1.86	2.36	2.12	1.27	2.03	2.78	3.28	3.28	4.08
Long-Term Debt/Equity (%)	15.57	14.87	14.2	17.18	13.51	1.99	- -	- -	- -	57.55	- -	- -	- -
Long-Term Debt/Capital (%)	111.58	84.48	67.02	60.36	45.29	9.1	- -	- -	- -	62.42	- -	- -	- -
Long-Term Debt/Total Assets (%)	1.88	1.91	1.79	1.77	1.54	0.24	- -	- -	- -	4.62	- -	- -	- -
Total Debt/Equity (%)	15.57	14.87	14.2	17.18	13.51	1.99	- -	- -	- -	57.55	- -	- -	- -
Total Debt/Capital (%)	111.58	84.48	67.02	60.36	45.29	9.1	- -	- -	- -	62.42	- -	- -	- -
Total Debt/Total Assets (%)	1.88	1.91	1.79	1.77	1.54	0.24	- -	- -	- -	4.62	- -	- -	- -
CFO/Total Liabilities	0.83	1.32	1.04	0.59	1.2	1.72	1.9	1.15	1.6	0.61	0.74	0.8	0.28
CFO/CapEx	54.39	21.14	36.07	1	28.41	28.66	2.33	67.7	141.91	41.91	15.5	3.6	1.21
Altman's Z-Score	0.03	0.05	0.16	0.08	0.16	0.17	0.16	0.1	0.12	0.12	0.11	0.12	0.09

Working Capital (USD)

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	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	- -	18.88	21.25	17.46	18.67	18.98	17.3	11.51	12.56	15.25	10.91	10.45	13.45
Days Sales Outstanding	- -	19.33	17.17	20.91	19.55	19.24	21.1	31.72	29.07	23.94	33.44	34.92	27.13
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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	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	- -	- -	24	27	54	59	59	48	56	46	40	49	- -
- Cash & Cash Equivalents	32	26	4	37	28	35	43	51	19	14	13	58	20
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	3	3	3	6	5	1	- -	- -	- -	27	- -	- -	- -
Enterprise Value	-33	-26	20	-11	16	9	1	-25	-63	-51	-74	-93	-103
Total Capital	3	4	5	10	11	9	8	7	11	43	19	21	28
Total Debt/Capital (%)	111.58	84.48	67.02	60.36	45.29	9.1	- -	- -	- -	62.42	- -	- -	- -
Total Debt / EV	-0.1	-0.13	0.16	-0.53	0.32	0.09	- -	- -	- -	-0.53	- -	- -	- -
EV/Sales	- -	0.04	2.9	2.91	1.16	0.6	0.06	1.48	- -	- -	- -	- -	- -
EV/EBITDA	- -	0.18	11	138.68	37.07	21.46	1.19	25.31	- -	- -	- -	- -	- -
EV/EBIT	- -	0.21	12.06	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	0.14	12.28	13.77	4.56	1.7	0.15	4.5	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	0.13	11.95	6.88	4.41	1.64	0.11	4.44	- -	- -	- -	- -	- -
Diluted Market Cap	- -	- -	24	27	54	60	59	48	56	47	40	49	- -
Diluted Enterprise Value	-29	-23	23	-3	31	25	16	-3	38	60	27	-9	-20
EV per Share	- -	0.1	7.36	8.29	3.82	2.23	0.24	5.88	- -	- -	- -	- -	- -
TTM Sales	5	6	7	9	14	15	16	17	19	20	20	20	27
TTM EBITDA	1	1	2	- -	- -	- -	1	1	1	1	1	1	1
TTM Operating Income	1	1	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	1	2	2	2	3	5	6	5	8	3	4	5	2
TTM Free Cash Flow to Firm	1	2	2	4	4	6	9	6	8	3	4	6	3

Multiples (USD)

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	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	- -	- -	14.62	7.61	15.05	10.64	6.38	8.62	7.32	13.94	9.5	8.1	- -
EV/EBIT	- -	0.21	12.06	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-33	-26	20	-11	16	9	1	-25	-63	-51	-74	-93	-103
Low Price	- -	- -	8.11	7.29	8.68	12.73	12.95	8.27	11.36	11.02	8.26	9.05	11.47
EV/Sales	- -	0.04	2.9	2.91	1.16	0.6	0.06	1.48	- -	- -	- -	- -	- -
EV/EBITDA	- -	0.18	11	138.68	37.07	21.46	1.19	25.31	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	21.35	23.09	25.43	11.65	12.29	11.83	13.36	8.41	13.02	16.29	- -
Price/Earnings Average	- -	- -	23.59	20.61	22.53	12.82	12.44	11.6	13.08	8.83	13.51	13.6	- -
Price/Earnings High	- -	- -	32.36	24.63	28.16	14.73	13.92	15.37	13.85	9.86	16.11	16.36	- -
Price/Earnings Low	- -	- -	19.24	18.38	17.07	10.45	11.09	8.62	11.32	8.05	10.75	11.61	- -
Price/Book Value	- -	- -	15.48	6.88	8.82	6.95	7.14	7.13	5.19	2.86	2.07	2.31	- -
Price/Book Value Average	- -	- -	17.11	6.14	7.82	7.65	7.22	6.99	5.08	3	2.14	1.93	- -
Price/Book Value High	- -	- -	23.46	7.33	9.77	8.79	8.08	9.26	5.38	3.35	2.56	2.32	- -
Price/Book Value Low	- -	- -	13.95	5.47	5.92	6.23	6.44	5.19	4.4	2.74	1.71	1.64	- -
Price/Tangible Book Value	- -	- -	1.08	0.81	1.5	1.43	1.27	0.94	1.07	1.02	0.81	0.98	- -
Price/Tangible Book Value Average	- -	- -	1.2	0.73	1.33	1.57	1.29	0.93	1.05	1.07	0.84	0.82	- -
Price/Tangible Book Value High	- -	- -	1.64	0.87	1.66	1.81	1.44	1.23	1.11	1.19	1.01	0.98	- -
Price/Tangible Book Value Low	- -	- -	0.97	0.65	1.01	1.28	1.15	0.69	0.91	0.97	0.67	0.7	- -
Price/Sales	- -	- -	3.55	3.21	3.92	3.83	3.79	2.87	2.99	2.32	2.02	2.44	- -
Price/Sales Average	- -	- -	3.92	2.87	3.48	4.22	3.83	2.81	2.93	2.43	2.1	2.04	- -
Price/Sales High	- -	- -	5.38	3.43	4.35	4.85	4.29	3.72	3.11	2.72	2.5	2.45	- -
Price/Sales Low	- -	- -	3.2	2.56	2.63	3.44	3.42	2.09	2.54	2.22	1.67	1.74	- -
Price/Cash Flow	- -	- -	15.02	15.21	15.42	10.83	9.07	8.7	7.3	14.13	9.97	10.27	- -
Price/Cash Flow Average	- -	- -	16.6	13.58	13.67	11.92	9.18	8.53	7.15	14.84	10.35	8.57	- -
Price/Cash Flow High	- -	- -	22.77	16.23	17.08	13.69	10.28	11.29	7.58	16.57	12.34	10.31	- -
Price/Cash Flow Low	- -	- -	13.54	12.11	10.35	9.71	8.19	6.33	6.19	13.53	8.23	7.32	- -
Price/Free Cash Flow Average	- -	- -	16.15	6.79	13.34	11.7	6.45	8.45	7.17	14.64	9.86	6.76	- -
Price/Free Cash Flow High	- -	- -	22.16	8.11	16.67	13.45	7.22	11.19	7.59	16.35	11.76	8.13	- -
Price/Free Cash Flow Low	- -	- -	13.17	6.05	10.1	9.54	5.76	6.27	6.2	13.35	7.85	5.77	- -
EV/Sales Average	0.6	0.5	3.77	3.52	1.78	1.97	1.06	2.75	1.94	3.1	1.44	- -	- -
EV/Sales High	0.6	0.5	5.23	4.14	2.65	2.59	1.51	0.67	2.11	3.39	1.85	- -	- -
EV/Sales Low	0.6	0.5	3.05	3.27	0.94	1.19	0.64	2.09	1.54	2.89	1.01	- -	- -
EV/EBITDA Average	-28.14	-15.21	14.28	-35.23	56.84	70.12	19.91	-4.11	36.31	70.27	32.18	-19.65	-18.81
EV/EBITDA High	-28.14	-15.21	19.8	-8.56	84.59	92.57	28.53	11.44	39.56	76.73	41.19	-10.25	-18.81
EV/EBITDA Low	-28.14	-15.21	11.53	-50.05	29.91	42.28	12.1	-16.44	28.91	65.42	22.62	-26.44	-18.81
EV/EBIT Average	-33.59	-17.12	15.66	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	-33.59	-17.12	21.72	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	-33.59	-17.12	12.65	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	- -	- -	9	9.16	12.93	14.2	14.35	11.36	13.4	11.51	10	12.7	16.66
High Price	- -	- -	13.64	9.77	14.32	17.95	16.25	14.75	13.9	13.5	12.38	12.75	16.66
Enterprise Value Average	-29	-23	26	-6	24	30	16	-4	36	62	28	-17	-20
Enterprise Value High	-29	-23	36	-2	36	40	24	11	39	68	36	-9	-20
Enterprise Value Low	-29	-23	21	-9	13	18	10	-16	29	58	20	-23	-20

	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	3	3	3	4	4	4	4	4	4	4	4	4	4
Diluted Weighted Avg Shares	3	3	3	3	4	4	4	4	4	4	4	4	- -
Basic Weighted Avg Shares	3	3	3	3	4	4	4	4	4	4	4	4	- -
Revenue per Share	1.99	2.37	2.53	2.85	3.29	3.7	3.79	3.96	4.48	4.97	4.95	5.2	- -
EBITDA per Share	0.38	0.55	0.67	0.06	0.1	0.1	0.2	0.23	0.24	0.22	0.22	0.23	- -
Operating Income per Share	0.32	0.49	0.61	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	0.54	0.34	0.42	0.4	0.51	1.22	1.17	0.96	1	1.37	0.77	0.78	- -
Basic EPS from Cont Ops	0.54	0.34	0.42	0.4	0.51	1.22	1.17	0.96	1	1.37	0.77	0.78	- -
Diluted EPS, GAAP	0.54	0.34	0.42	0.4	0.5	1.2	1.16	0.95	0.99	1.35	0.76	0.77	- -
Diluted EPS from Cont Ops	0.54	0.34	0.42	0.4	0.5	1.2	1.16	0.95	0.99	1.35	0.76	0.77	- -
Dividend per Share	- -	- -	0.06	- -	- -	- -	- -	- -	- -	- -	- -	0.2	- -
Cash Flow per Share	0.47	0.72	0.6	0.6	0.84	1.31	1.58	1.31	1.83	0.81	1	1.24	- -
Free Cash Flow per Basic Share	0.46	0.68	0.58	- -	0.81	1.27	0.9	1.29	1.82	0.8	0.94	0.89	- -
Cash & Equivalents per Share	13.56	10.7	2.82	15.02	10.32	12.18	14.11	17.34	28.49	30.79	28.75	36.77	- -
Book Value per Share	-0.12	0.22	0.58	1.33	1.47	2.04	2.01	1.59	2.58	4.03	4.84	5.51	- -
Tangible Book Value per Share	7.65	8.01	8.32	11.25	8.61	9.92	11.29	12.03	12.54	11.32	12.32	12.99	- -

Commencement Bancorp Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)