C&F Financial Corporation Financial Ratios — CFFI 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 (%)	15.74	18.78	14.86	11.56	10.87	10.86	5.07	13.12	12.51	13.33	15.43	13.96	10.32	8.13	10.27
Return on Assets (%)	1.42	1.72	1.26	0.93	0.91	0.94	0.44	1.19	1.19	1.18	1.32	1.27	0.99	0.79	1.01
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 (%)	2.68	2.6	2.52	2.81	- -	3.21	3.21	3.45	3.51	3.11	3.6	3.77	3.15	- -	- -
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	23.66	27.47	23.13	17.96	- -	16.82	16.76	21.18	21.71	21.67	28.93	31.99	23.65	- -	- -
Profit Margin (%)	16.41	18.73	15.49	12.68	- -	12.64	6.13	16.93	17.11	16.4	21.78	25.23	19.14	- -	- -
Net Income to Common Margin (%)	14.91	18.37	15.49	12.68	- -	12.64	6.13	16.93	17.11	16.4	21.78	25.23	19.14	- -	- -
Effective Tax Rate (%)	30.65	31.82	33.05	29.41	27.92	24.89	63.42	20.06	21.24	23.26	23.53	20.55	18.58	17.47	18.38
Dvd Payout Ratio (%)	-239.64	-1,083.92	26.62	32.81	- -	- -	- -	- -	-57,011.11	1,806.51	1,244.52	2,740.95	4,215.49	6,880.95	3,816.03
Sustainable Growth Rate (%)	53.47	222.39	10.91	7.77	- -	- -	- -	- -	7,146.52	-227.45	-176.61	-368.67	-424.62	-551.29	-381.51

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	161	163	170	167	177	165	168	160	161	76	90	92	110	123	113
ST Debt	8	9	12	14	12	12	21	15	16	20	35	37	58	29	20
LT Debt	154	154	158	153	165	152	147	145	145	56	56	55	51	94	93
Total Debt/EBITDA	75.98	71.69	72.3	60.98	70.59	48.12	48.7	43.5	41.69	18.18	19.08	21.14	28.24	31.79	28.89
Net Debt/EBITDA	71.02	60.41	48.28	-0.22	9.68	17.94	14.05	12.17	-1.1	-2.51	-37.39	15.02	8.86	14.78	8.72
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	8.54	9.4	7.81	8.3	8.5	8.85	8.67	9.46	9.51	8.36	8.71	9.46	9.72	9.79	9.82
Long-Term Debt/Equity (%)	159.86	150.3	139.94	123.45	126.03	109.33	103.91	95.27	87.62	28.65	26.41	28.28	23.59	41.25	35.58
Long-Term Debt/Capital (%)	63.89	60.33	58.03	54.87	55.66	51.94	49.3	47.69	45.37	22.18	19.32	17.72	14.78	25.02	24.19
Long-Term Debt/Total Assets (%)	16.55	15.72	12.04	11.4	11.76	10.48	9.76	9.52	8.74	2.67	2.46	2.38	2.1	3.65	3.37
Total Debt/Equity (%)	167.71	159.25	150.37	135.12	135.25	118.21	118.46	105.09	97.51	39.17	42.87	46.93	50.36	54.02	43.2
Total Debt/Capital (%)	67.03	63.92	62.36	60.06	59.74	56.15	56.21	52.6	50.49	30.33	31.37	29.4	31.55	32.77	29.38
Total Debt/Total Assets (%)	17.36	16.66	12.94	12.48	12.62	11.33	11.12	10.5	9.72	3.65	3.99	3.95	4.49	4.78	4.09
Net Debt to Equity	156.77	134.18	100.42	-0.48	18.56	44.08	34.18	29.4	-2.58	-5.4	-84.01	33.34	15.81	25.12	13.04
Net Debt/Capital (%)	65.52	59.88	52.52	-0.53	16.91	32.32	27.03	23.69	-2.77	-6.38	-859.02	22.83	12.64	18.48	11.15
EBITDA	2	2	2	3	3	3	3	4	4	4	5	4	4	4	4
EBITDA-CapEx	- -	1	-1	1	1	1	-1	- -	1	-6	- -	1	2	- -	2
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	8.54	9.4	7.81	8.3	8.5	8.85	8.67	9.46	9.51	8.36	8.71	9.46	9.72	9.79	9.82
Long-Term Debt/Equity (%)	159.86	150.3	139.94	123.45	126.03	109.33	103.91	95.27	87.62	28.65	26.41	28.28	23.59	41.25	35.58
Long-Term Debt/Capital (%)	63.89	60.33	58.03	54.87	55.66	51.94	49.3	47.69	45.37	22.18	19.32	17.72	14.78	25.02	24.19
Long-Term Debt/Total Assets (%)	16.55	15.72	12.04	11.4	11.76	10.48	9.76	9.52	8.74	2.67	2.46	2.38	2.1	3.65	3.37
Total Debt/Equity (%)	167.71	159.25	150.37	135.12	135.25	118.21	118.46	105.09	97.51	39.17	42.87	46.93	50.36	54.02	43.2
Total Debt/Capital (%)	67.03	63.92	62.36	60.06	59.74	56.15	56.21	52.6	50.49	30.33	31.37	29.4	31.55	32.77	29.38
Total Debt/Total Assets (%)	17.36	16.66	12.94	12.48	12.62	11.33	11.12	10.5	9.72	3.65	3.99	3.95	4.49	4.78	4.09
CFO/Total Liabilities	3.36	3.35	5.3	2.81	1.2	2.05	1.89	3.47	-0.98	-4.25	7.66	4.24	1.75	1.57	0.98
CFO/CapEx	15.21	32.86	17.4	18.83	8.48	9.96	6.17	14.09	-5.41	-7.86	32.88	26.68	26.6	10.55	10.52
Altman's Z-Score	0.26	0.3	0.25	0.25	0.18	0.27	0.28	0.28	0.28	0.22	0.23	0.24	0.25	0.2	0.19

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	15.33	16.03	15.5	15.24	- -	15.12	14.44	14.17	15.51	18.12	17.65	14.64	12.73	- -	- -
Days Sales Outstanding	23.8	22.77	23.55	23.95	- -	24.14	25.28	25.76	23.53	20.14	20.68	24.94	28.68	- -	- -
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	83	125	151	135	133	172	202	186	191	135	184	205	233	235	235
- Cash & Cash Equivalents	11	26	56	168	153	103	119	115	165	87	268	27	75	66	79
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	1	1	1	1	1
+ Total Debt	161	163	170	167	177	165	168	160	161	76	90	92	110	123	113
Enterprise Value	89	110	46	-87	-63	24	32	16	-3	-161	-365	-242	-195	70	-57
Total Capital	240	255	272	278	297	293	299	304	319	251	288	313	347	374	386
Total Debt/Capital (%)	67.03	63.92	62.36	60.06	59.74	56.15	56.21	52.6	50.49	30.33	31.37	29.4	31.55	32.77	29.38
Total Debt / EV	1.8	1.49	3.67	-1.92	-2.84	6.99	5.3	9.94	-62.34	-0.47	-0.25	-0.38	-0.56	1.75	-1.97
EV/Sales	1.13	1.25	0.5	- -	- -	0.22	0.3	0.15	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	42.16	48.24	19.69	- -	- -	6.88	9.19	4.38	- -	- -	- -	- -	- -	18.2	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	3.19	3.74	0.73	- -	- -	0.87	1.23	0.34	- -	- -	- -	- -	- -	1.91	- -
EV/Free Cash Flow to Firm	3	3.63	0.69	- -	- -	0.79	1.06	0.32	- -	- -	- -	- -	- -	1.74	- -
Diluted Market Cap	84	129	157	137	133	172	202	186	191	135	184	205	233	235	235
Diluted Enterprise Value	235	266	271	136	157	234	251	231	187	126	8	271	268	293	270
EV per Share	28.52	34.06	13.99	- -	- -	6.81	9.09	4.59	- -	- -	- -	- -	- -	21.28	- -
TTM Sales	79	87	93	97	- -	107	107	106	110	135	132	116	123	- -	- -
TTM EBITDA	2	2	2	3	3	3	3	4	4	4	5	4	4	4	4
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	28	29	64	34	15	27	26	48	-15	-80	157	91	39	37	24
TTM Free Cash Flow to Firm	30	30	67	36	17	30	30	51	-12	-70	162	94	40	40	27

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	2.83	4.27	2.34	3.79	7.74	5.8	6.75	3.66	-16.01	-1.93	1.14	2.18	5.78	5.84	8.76
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	89	110	46	-87	-63	24	32	16	-3	-161	-365	-242	-195	70	-57
Low Price	19	26.4	36.8	30.33	33.2	37.02	42.25	45.28	45.66	28	36.9	43.1	48.01	33.51	53.14
EV/Sales	1.13	1.25	0.5	- -	- -	0.22	0.3	0.15	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	42.16	48.24	19.69	- -	- -	6.88	9.19	4.38	- -	- -	- -	- -	- -	18.2	- -
Price/Earnings	7.07	7.79	10.45	10.96	10.59	12.79	30.77	10.34	10.12	6.12	6.44	7.03	9.86	11.85	8.76
Price/Earnings Average	5.91	7	10.92	9.82	9.94	10.78	26.93	11.03	9.4	6.02	6.1	6.22	8.09	9.21	8.33
Price/Earnings High	7.44	8.69	13.64	12.65	10.8	13.71	34.51	13.1	10.54	9.16	6.91	7.69	10.41	13.45	10.85
Price/Earnings Low	5.05	5.28	8.42	8.36	9.01	9.5	22.41	8.8	8.35	4.62	4.64	5.2	6.94	5.57	6.41
Price/Book Value	1.05	1.36	1.47	1.22	1.11	1.34	1.55	1.29	1.21	0.78	0.94	0.93	0.98	0.94	0.86
Price/Book Value Average	0.88	1.22	1.54	1.09	1.04	1.13	1.35	1.38	1.13	0.76	0.89	0.82	0.81	0.73	0.82
Price/Book Value High	1.11	1.52	1.92	1.41	1.13	1.44	1.73	1.64	1.26	1.16	1.01	1.02	1.04	1.06	1.07
Price/Book Value Low	0.75	0.92	1.19	0.93	0.95	1	1.13	1.1	1	0.59	0.67	0.69	0.69	0.44	0.63
Price/Tangible Book Value	0.98	1.37	1.59	1.27	1.15	1.41	1.61	1.37	1.27	0.81	1	1.21	1.22	1.17	0.99
Price/Tangible Book Value Average	0.82	1.23	1.66	1.14	1.08	1.18	1.41	1.46	1.18	0.8	0.95	1.07	1	0.91	0.95
Price/Tangible Book Value High	1.03	1.53	2.08	1.47	1.18	1.51	1.8	1.73	1.33	1.21	1.08	1.32	1.29	1.33	1.23
Price/Tangible Book Value Low	0.7	0.93	1.28	0.97	0.98	1.04	1.17	1.16	1.05	0.61	0.72	0.9	0.86	0.55	0.73
Price/Sales	1.05	1.43	1.62	1.39	- -	1.62	1.89	1.75	1.73	1	1.4	1.77	1.89	- -	- -
Price/Sales Average	0.88	1.29	1.69	1.24	- -	1.36	1.65	1.87	1.61	0.99	1.33	1.57	1.55	- -	- -
Price/Sales High	1.11	1.6	2.11	1.6	- -	1.73	2.12	2.22	1.8	1.5	1.51	1.94	1.99	- -	- -
Price/Sales Low	0.75	0.97	1.3	1.06	- -	1.2	1.37	1.49	1.43	0.76	1.01	1.31	1.33	- -	- -
Price/Cash Flow	2.98	4.28	2.37	3.96	8.65	6.38	7.85	3.92	-13.05	-1.68	1.17	2.26	5.99	6.39	9.6
Price/Cash Flow Average	2.49	3.84	2.48	3.55	8.13	5.38	6.87	4.18	-12.12	-1.66	1.11	2	4.92	4.97	9.12
Price/Cash Flow High	3.14	4.77	3.1	4.57	8.82	6.84	8.8	4.96	-13.59	-2.52	1.26	2.48	6.33	7.26	11.88
Price/Cash Flow Low	2.13	2.9	1.91	3.02	7.37	4.74	5.72	3.33	-10.77	-1.27	0.84	1.67	4.22	3.01	7.03
Price/Free Cash Flow Average	2.36	3.83	2.44	3.4	7.27	4.89	5.91	3.9	-14.87	-1.9	1.08	1.93	4.74	4.54	8.33
Price/Free Cash Flow High	2.98	4.76	3.05	4.38	7.89	6.22	7.57	4.63	-16.67	-2.89	1.22	2.39	6.1	6.63	10.85
Price/Free Cash Flow Low	2.02	2.89	1.88	2.9	6.59	4.31	4.92	3.11	-13.21	-1.46	0.82	1.61	4.07	2.75	6.41
EV/Sales Average	2.79	2.85	2.91	1.24	- -	1.94	2.1	2.29	1.57	0.91	- -	2.14	1.83	- -	- -
EV/Sales High	3.02	3.16	3.33	1.6	- -	2.31	2.57	2.64	1.77	1.43	0.16	2.51	2.28	- -	- -
EV/Sales Low	2.66	2.54	2.52	1.05	- -	1.78	1.83	1.91	1.4	0.68	- -	1.88	1.61	- -	- -
EV/EBITDA Average	103.88	109.96	115.41	44.03	59.3	60.37	65.4	66.32	44.88	29.42	-0.38	56.81	58.26	62.3	65.83
EV/EBITDA High	112.42	121.9	132.13	56.81	63.56	71.88	79.85	76.45	50.44	46	4.57	66.65	72.36	84.12	83.06
EV/EBITDA Low	99.12	97.8	100.06	37.48	54.66	55.33	56.79	55.36	39.78	22.04	-9.19	49.96	51.26	43.61	52.73
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	26.6	38.94	45.67	39.74	39	49.85	58	53.21	55.33	37.11	51.19	58.27	68.19	71.25	72.59
High Price	28	43.42	59.59	45.88	39.77	53.4	65.05	67.4	57.61	55.51	55	63.77	72	80.87	89.9
Enterprise Value Average	220	250	271	121	149	206	225	243	174	123	-2	247	226	240	258
Enterprise Value High	238	277	310	156	160	246	275	281	195	193	22	290	281	324	326
Enterprise Value Low	210	222	235	103	137	189	196	203	154	92	-44	218	199	168	207

	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	3	3	3	3	3	3	3	3	3	4	4	3	3	3	3
Diluted Weighted Avg Shares	3	3	3	3	3	3	3	4	3	4	4	4	3	3	3
Basic Weighted Avg Shares	3	3	3	3	3	3	3	4	3	4	4	4	3	3	3
Revenue per Share	25.22	27.21	28.22	28.61	- -	30.84	30.75	30.4	31.94	36.95	36.52	32.86	36.15	- -	- -
EBITDA per Share	0.68	0.71	0.71	0.8	0.74	0.99	0.99	1.05	1.12	1.15	1.32	1.24	1.14	1.17	1.21
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	3.76	5	4.37	3.63	3.68	3.9	1.88	5.15	5.47	6.06	7.95	8.29	6.92	6.01	8.29
Basic EPS from Cont Ops	- -	- -	4.37	3.63	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS, GAAP	3.72	4.86	4.19	3.59	3.68	3.89	1.88	5.15	5.47	6.06	7.95	8.29	6.92	6.01	8.29
Diluted EPS from Cont Ops	- -	- -	4.19	3.59	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	1.28	1.15	1.16	1.19	1.22	1.29	1.33	1.41	1.49	1.52	1.57	1.64	1.75	1.75	1.84
Cash Flow per Share	8.93	9.11	19.24	10.04	4.51	7.81	7.39	13.58	-4.24	-22.03	43.67	25.75	11.37	11.14	7.56
Free Cash Flow per Basic Share	8.34	8.83	18.14	9.51	3.98	7.03	6.19	12.62	-5.02	-24.83	42.34	24.78	10.95	10.09	6.84
Cash & Equivalents per Share	49.48	55.5	83.06	114.42	109.49	90.68	97.06	94.23	102.92	102.24	177.8	153.32	157.56	87.32	125.52
Book Value per Share	25.28	28.57	31.02	32.63	35.12	37.2	37.51	41.09	45.66	47.78	54.72	62.71	69.46	76.05	83.97
Tangible Book Value per Share	27.22	28.45	28.67	31.32	33.81	35.47	36.05	38.96	43.45	45.77	51.01	48.15	55.95	60.81	72.97

C&F Financial Corporation

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)