Cedar Realty Trust, Inc. Financial Ratios — CDR-PC 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 (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	-6.61	2.06	1.07	2.21	1.7	0.7	1.54	0.31	0.09	-0.09	-4.11	7.04	0.86	2.02	-0.98
Return on Capital (%)	- -	9.7	9.24	12.32	10.83	8.44	11.25	7.69	7.92	- -	- -	- -	-1.53	-2.06	- -
Return on Invested Capital (%)	- -	2.83	3.09	4.03	4.06	3.87	3.72	3.94	2.67	- -	- -	- -	3.45	4.96	- -
Gross Margin (%)	66.96	70.98	69.69	69.78	70.12	70.54	69.64	68.49	66.45	74.81	64.56	58.13	62.02	61.72	63.98
EBITDA Margin (%)	63.89	61.48	60.57	60.09	60.06	58.52	58.06	57.37	53.39	108.05	88.81	57.05	51.83	54.1	54.71
Operating Margin (%)	26.5	28.57	27.86	33.97	34.19	31.53	30.59	31.02	21.56	2.55	-11.87	0.56	21.28	29.63	29.36
Incremental Operating Margin (%)	1,057.82	75.46	3.12	133.33	66.18	-180.36	58.55	41.6	202.68	30.45	- -	-99.1	2,142.09	-3,415.48	31.27
Pretax Margin (%)	-21.65	17.75	3.24	11.88	14.49	5.8	13.46	2.87	1.09	-49.08	-91.03	-230.37	5.8	13.16	-6.31
Profit Margin (%)	-79.67	21.89	10.35	19.56	14.84	5.92	13.11	2.56	0.75	-2.34	-115.09	128.38	5.8	13.16	-6.31
Net Income to Common Margin (%)	-90.59	10.97	0.03	9.83	5.19	-3.62	3.76	-4.59	-6.72	-25.77	-142.52	97.03	-25.25	-16.64	-26.76
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	-52.24	105.75	-142.5	543.8	248.44	-292.79	271.62	-310.04	-204.78	-21.84	-8.45	-443.27	- -	-2.54	-6.16
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

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	919	745	720	665	674	608	580	625	631	624	527	131	140	143	140
ST Debt	166	- -	154	72	78	72	55	100	106	175	66	- -	- -	- -	- -
LT Debt	753	745	566	593	596	536	525	525	525	449	461	131	140	143	140
Total Debt/EBITDA	11.07	8.93	8.51	7.47	7.52	6.87	6.84	7.16	8.2	12.59	15.14	6.72	7.83	7.65	8.63
Net Debt/EBITDA	10.92	8.84	8.47	7.43	7.5	6.84	6.8	7.08	8.09	12.45	14.9	6.52	7.46	6.41	8.31
Total Debt/EBIT	26.69	19.22	18.51	13.22	13.21	12.76	12.99	13.25	20.29	532.66	-113.27	681.15	19.07	13.96	16.07
Net Debt/EBIT	26.34	19.02	18.4	13.15	13.17	12.7	12.91	13.09	20.03	526.7	-111.47	660.95	18.18	11.71	15.48
EBITDA to Interest Expense	2.01	2.18	2.43	2.76	3.17	3.33	3.82	3.94	3.27	2.5	2.5	1.8	2.24	2.05	1.78
EBITDA-CapEx/Interest Expense	-0.22	2.18	2.43	2.76	3.17	3.33	3.82	3.94	3.27	2.5	2.5	1.8	2.24	2.05	1.78
EBIT to Interest Expense	0.83	1.01	1.12	1.56	1.8	1.8	2.01	2.13	1.32	0.06	-0.33	0.02	0.92	1.12	0.95
Interest Expense	41	38	35	32	28	27	22	22	24	20	14	11	8	9	9
Common Equity/Total Assets	-24.45	-27.3	-29.24	-30.33	-30.28	-34.19	-35.25	-38.46	-41.71	-44.33	-57.2	-403.85	-409.47	-439.09	-570.04
Long-Term Debt/Equity (%)	135.5	142.99	105.8	103.22	99.71	92.05	83.34	93.94	102.04	92.17	104.79	159.93	191.26	254.33	2,200.36
Long-Term Debt/Capital (%)	97.77	137.39	107.15	125.98	127.66	141.76	150.92	165.37	180.44	168.97	428.79	-20.08	-21.47	-21.34	-19.3
Long-Term Debt/Total Assets (%)	49.8	54.4	42.52	46.11	45.19	43.43	41.93	42.92	43.51	38.16	45.34	56.14	60.28	65.9	84.75
Total Debt/Equity (%)	165.42	142.99	134.48	115.75	112.77	104.42	92.07	111.83	122.66	128.07	119.79	159.93	191.26	254.33	2,200.36
Total Debt/Capital (%)	119.37	137.39	136.19	141.27	144.37	160.81	166.73	196.88	216.91	234.79	490.17	-20.08	-21.47	-21.34	-19.3
Total Debt/Total Assets (%)	60.8	54.4	54.04	51.71	51.11	49.27	46.32	51.09	52.3	53.03	51.83	56.14	60.28	65.9	84.75
Net Debt to Equity	163.25	141.55	133.74	115.14	112.42	103.93	91.48	110.52	121.08	126.64	117.89	155.18	182.39	213.25	2,119.41
Net Debt/Capital (%)	119.67	137.92	136.46	141.57	144.57	161.28	167.45	195.78	216.16	233.6	496.43	-19.37	-20.27	-17.3	-18.46
EBITDA	83	83	85	89	90	88	85	87	77	50	35	20	18	19	16
EBITDA-CapEx	-9	83	85	89	90	88	85	87	77	50	35	20	18	19	16
Operating Income (Loss)	34	39	39	50	51	48	45	47	31	1	-5	- -	7	10	9

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	0.07	0.1	0.02	0.04	0.02	0.03	0.05	0.02	0.02	0.01	0.03	0.22	0.4	1.4	0.29
Current Ratio	1.67	2.24	0.54	0.56	0.45	0.27	0.37	0.33	0.28	0.17	7.07	1.18	1.44	2.32	1.32
Quick Ratio	0.23	0.35	0.11	0.23	0.2	0.19	0.26	0.19	0.16	0.1	0.15	0.58	0.78	1.74	0.61
CFO/Avg Current Liab	0.24	0.43	0.36	0.34	0.6	0.6	0.65	0.56	0.38	0.22	0.26	-0.32	0.49	0.57	0.47
Common Equity/Total Assets	-24.45	-27.3	-29.24	-30.33	-30.28	-34.19	-35.25	-38.46	-41.71	-44.33	-57.2	-403.85	-409.47	-439.09	-570.04
Long-Term Debt/Equity (%)	135.5	142.99	105.8	103.22	99.71	92.05	83.34	93.94	102.04	92.17	104.79	159.93	191.26	254.33	2,200.36
Long-Term Debt/Capital (%)	97.77	137.39	107.15	125.98	127.66	141.76	150.92	165.37	180.44	168.97	428.79	-20.08	-21.47	-21.34	-19.3
Long-Term Debt/Total Assets (%)	49.8	54.4	42.52	46.11	45.19	43.43	41.93	42.92	43.51	38.16	45.34	56.14	60.28	65.9	84.75
Total Debt/Equity (%)	165.42	142.99	134.48	115.75	112.77	104.42	92.07	111.83	122.66	128.07	119.79	159.93	191.26	254.33	2,200.36
Total Debt/Capital (%)	119.37	137.39	136.19	141.27	144.37	160.81	166.73	196.88	216.91	234.79	490.17	-20.08	-21.47	-21.34	-19.3
Total Debt/Total Assets (%)	60.8	54.4	54.04	51.71	51.11	49.27	46.32	51.09	52.3	53.03	51.83	56.14	60.28	65.9	84.75
CFO/Total Liabilities	4.09	5.93	6.21	7.15	8.2	9.09	9.17	8.72	7.76	6.17	7.79	-13.47	5.17	5.89	5.02
CFO/CapEx	0.42	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	-0.1	-0.12	-0.3	-0.22	-0.24	-0.3	-0.31	-0.38	-0.49	-0.77	0.01	-5.49	-5.45	-5.72	-7.59

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	12.81	7.23	7.82	8.03	8.22	9.21	9.1	8.52	7.76	2.47	2.75	4.23	5.54	5.75	5.24
Days Sales Outstanding	28.5	50.46	46.7	45.44	44.42	39.63	40.11	42.82	47.04	147.61	132.88	86.28	65.83	63.45	69.67
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.66	0.55	1.42	1.72	1.59
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	553.22	663.32	256.36	212.31	230
Cash Conversion Cycle	28.5	50.46	46.7	45.44	44.42	39.63	40.11	42.82	47.04	147.61	-420.34	-577.03	-190.53	-148.85	-160.34
Inventory to Cash Days	28.5	50.46	46.7	45.44	44.42	39.63	40.11	42.82	47.04	147.61	132.88	86.28	65.83	63.45	69.67
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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Cash & Cash Equivalents	12	8	4	3	2	3	4	2	3	2	3	4	7	23	5
+ Preferred Equity and Hybrid Capital	159	164	191	191	191	191	208	160	160	160	160	160	160	140	76
+ Minority/Non Controlling Interest	62	7	8	5	1	1	2	3	4	4	3	- -	- -	- -	- -
+ Total Debt	919	745	720	665	674	608	580	625	631	624	527	131	140	143	140
Enterprise Value	1,128	909	914	858	864	797	786	786	791	786	686	287	294	260	211
Total Capital	770	542	529	471	467	378	348	317	291	266	108	-655	-654	-670	-725
Total Debt/Capital (%)	119.37	137.39	136.19	141.27	144.37	160.81	166.73	196.88	216.91	234.79	490.17	-20.08	-21.47	-21.34	-19.3
Total Debt / EV	0.82	0.82	0.79	0.78	0.78	0.76	0.74	0.8	0.8	0.79	0.77	0.46	0.48	0.55	0.66
EV/Sales	8.68	6.7	6.55	5.79	5.79	5.27	5.38	5.17	5.49	17.13	17.51	8.37	8.48	7.52	7.12
EV/EBITDA	13.58	10.89	10.81	9.63	9.64	9.01	9.27	9.01	10.28	15.85	19.72	14.67	16.35	13.89	13.01
EV/EBIT	32.74	23.44	23.5	17.04	16.93	16.73	17.59	16.66	25.45	670.77	- -	1,487.59	39.83	25.36	24.23
EV/Cash Flow to Firm	14.03	10.25	10.85	10.31	9.88	9.29	9.91	9.82	10.25	12.59	11.66	- -	18.04	13.99	12.34
EV/Free Cash Flow to Firm	6.54	10.25	10.85	10.31	9.88	9.29	9.91	9.82	10.25	12.59	11.66	- -	18.04	13.99	12.34
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Enterprise Value	1,128	909	914	858	864	797	786	786	791	786	686	287	294	260	211
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Sales	130	136	140	148	149	151	146	152	144	46	39	34	35	35	30
TTM EBITDA	83	83	85	89	90	88	85	87	77	50	35	20	18	19	16
TTM Operating Income	34	39	39	50	51	48	45	47	31	1	-5	- -	7	10	9
TTM Cash Flow to Firm	80	89	84	83	87	86	79	80	77	62	59	-10	16	19	17
TTM Free Cash Flow to Firm	173	89	84	83	87	86	79	80	77	62	59	-10	16	19	17

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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	32.74	23.44	23.5	17.04	16.93	16.73	17.59	16.66	25.45	670.77	- -	1,487.59	39.83	25.36	24.23
Enterprise Value	1,128	909	914	858	864	797	786	786	791	786	686	287	294	260	211
Low Price	- -	- -	- -	- -	- -	- -	24.16	16.67	17.78	6	21.09	6.2	10.18	11.14	13.63
EV/Sales	8.68	6.7	6.55	5.79	5.79	5.27	5.38	5.17	5.49	17.13	17.51	8.37	8.48	7.52	7.12
EV/EBITDA	13.58	10.89	10.81	9.63	9.64	9.01	9.27	9.01	10.28	15.85	19.72	14.67	16.35	13.89	13.01
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales Average	8.68	6.7	6.55	5.79	5.79	5.27	5.38	5.17	5.49	17.13	17.51	8.37	8.48	7.52	7.12
EV/Sales High	8.68	6.7	6.55	5.79	5.79	5.27	5.38	5.17	5.49	17.13	17.51	8.37	8.48	7.52	7.12
EV/Sales Low	8.68	6.7	6.55	5.79	5.79	5.27	5.38	5.17	5.49	17.13	17.51	8.37	8.48	7.52	7.12
EV/EBITDA Average	13.58	10.89	10.81	9.63	9.64	9.01	9.27	9.01	10.28	15.85	19.72	14.67	16.35	13.89	13.01
EV/EBITDA High	13.58	10.89	10.81	9.63	9.64	9.01	9.27	9.01	10.28	15.85	19.72	14.67	16.35	13.89	13.01
EV/EBITDA Low	13.58	10.89	10.81	9.63	9.64	9.01	9.27	9.01	10.28	15.85	19.72	14.67	16.35	13.89	13.01
EV/EBIT Average	32.74	23.44	23.5	17.04	16.93	16.73	17.59	16.66	25.45	670.77	-147.46	1,487.59	39.83	25.36	24.23
EV/EBIT High	32.74	23.44	23.5	17.04	16.93	16.73	17.59	16.66	25.45	670.77	-147.46	1,487.59	39.83	25.36	24.23
EV/EBIT Low	32.74	23.44	23.5	17.04	16.93	16.73	17.59	16.66	25.45	670.77	-147.46	1,487.59	39.83	25.36	24.23
Last Price	- -	- -	- -	- -	- -	- -	25.04	18.98	23.19	21.4	25.27	11.76	12.69	14.49	17.19
High Price	- -	- -	- -	- -	- -	- -	25.39	25.02	23.78	24.59	26.3	25.5	15.15	14.99	18.08
Enterprise Value Average	1,128	909	914	858	864	797	786	786	791	786	686	287	294	260	211
Enterprise Value High	1,128	909	914	858	864	797	786	786	791	786	686	287	294	260	211
Enterprise Value Low	1,128	909	914	858	864	797	786	786	791	786	686	287	294	260	211

	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	10	11	11	12	13	13	14	14	13	14	14	14	14	14	14
Diluted Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Revenue per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow per Basic Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash & Equivalents per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Tangible Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Cedar Realty Trust, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

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Per Share Data Items (USD)