Citizens Financial Corporation Financial Ratios — CFIN Stock

Profitability (USD)

	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y
Return on Common Equity (%)	- -	25.51	34.59	46.74	1.39	-44.06	-26.63	8.17	2.78	1.41	-9.31
Return on Assets (%)	- -	2.41	3.08	4.81	0.17	-4.56	-1.8	0.46	0.16	0.08	-0.56
Return on Capital (%)	- -	22.62	26.77	32.19	2.55	- -	- -	- -	- -	3.42	- -
Return on Invested Capital (%)	- -	- -	15.65	- -	1.91	- -	- -	- -	- -	2.92	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	9.42	- -	16.65	- -	3.89	-27.23	-7.18	2.41	1.5	2.11	0.02
Operating Margin (%)	9.42	- -	16.65	- -	3.89	-27.23	-7.18	2.41	1.5	2.11	0.02
Incremental Operating Margin (%)	- -	-333.28	127.04	-50.54	-24.5	- -	- -	-1,068.58	10.17	-3.63	16.86
Pretax Margin (%)	5.79	10.42	14.93	23.89	1.43	-29.18	-7.91	1.54	0.55	0.39	-1.65
Profit Margin (%)	4.81	8.39	12.1	17.76	0.76	-22.68	-6.11	1.71	0.68	0.39	-2.86
Net Income to Common Margin (%)	3.07	6.67	11.07	17.76	0.76	-22.68	-6.11	1.71	0.68	0.39	-2.86
Effective Tax Rate (%)	16.94	19.53	19	25.68	46.86	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	-14.39	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	25.51	34.59	46.74	1.39	-44.06	-26.63	8.17	2.78	1.41	-9.31

Credit (USD)

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	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y
Total Debt	4	4	7	8	8	7	8	7	6	5	6
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	4	4	7	8	8	7	8	7	6	5	6
Total Debt/EBITDA	1.89	- -	1.43	- -	6.57	-0.95	-2.57	7.1	10.33	7.64	1,185.18
Net Debt/EBITDA	0.59	- -	-0.39	- -	-9.94	1.52	-0.36	-1.45	1.96	2.59	-519.64
Total Debt/EBIT	1.89	- -	1.43	- -	6.57	-0.95	-2.57	7.1	10.33	7.64	1,185.18
Net Debt/EBIT	0.59	- -	-0.39	- -	-9.94	1.52	-0.36	-1.45	1.96	2.59	-519.64
EBITDA to Interest Expense	2.77	- -	9.7	- -	1.58	-13.98	-9.89	2.77	1.58	1.85	0.01
EBITDA-CapEx/Interest Expense	2.5	-0.71	0.44	-6.36	0.02	-14.35	-9.99	2.5	-1.18	1.66	-0.3
EBIT to Interest Expense	2.77	- -	9.7	- -	1.58	-13.98	-9.89	2.77	1.58	1.85	0.01
Interest Expense	1	- -	- -	1	1	1	- -	- -	- -	- -	- -
Common Equity/Total Assets	6.86	8.13	8.17	12.3	12.69	8.02	5.63	5.71	5.92	6.16	5.79
Long-Term Debt/Equity (%)	38.74	24.51	29.94	30.32	34.37	35.47	43.81	34.24	29.32	31.17	39.23
Long-Term Debt/Capital (%)	42.64	33.75	38.11	33.36	31.74	39.3	48.21	44.03	38.35	36.28	39.39
Long-Term Debt/Total Assets (%)	5.1	4.14	5.03	6.16	5.9	5.19	5.24	4.49	3.68	3.51	3.76
Total Debt/Equity (%)	38.74	24.51	29.94	30.32	34.37	35.47	43.81	34.24	29.32	31.17	39.23
Total Debt/Capital (%)	42.64	33.75	38.11	33.36	31.74	39.3	48.21	44.03	38.35	36.28	39.39
Total Debt/Total Assets (%)	5.1	4.14	5.03	6.16	5.9	5.19	5.24	4.49	3.68	3.51	3.76
Net Debt to Equity	12.2	-18.65	-8.24	-36.37	-51.96	-56.68	6.08	-6.99	5.57	10.57	-17.2
Net Debt/Capital (%)	18.98	-63.29	-20.41	-150.37	-236.55	2,996.63	11.44	-19.12	10.57	16.18	-39.85
EBITDA	2	- -	5	- -	1	-7	-3	1	1	1	- -
EBITDA-CapEx	2	- -	- -	-4	- -	-8	-3	1	- -	1	- -
Operating Income (Loss)	2	- -	5	- -	1	-7	-3	1	1	1	- -

Liquidity (USD)

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	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y
Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	6.86	8.13	8.17	12.3	12.69	8.02	5.63	5.71	5.92	6.16	5.79
Long-Term Debt/Equity (%)	38.74	24.51	29.94	30.32	34.37	35.47	43.81	34.24	29.32	31.17	39.23
Long-Term Debt/Capital (%)	42.64	33.75	38.11	33.36	31.74	39.3	48.21	44.03	38.35	36.28	39.39
Long-Term Debt/Total Assets (%)	5.1	4.14	5.03	6.16	5.9	5.19	5.24	4.49	3.68	3.51	3.76
Total Debt/Equity (%)	38.74	24.51	29.94	30.32	34.37	35.47	43.81	34.24	29.32	31.17	39.23
Total Debt/Capital (%)	42.64	33.75	38.11	33.36	31.74	39.3	48.21	44.03	38.35	36.28	39.39
Total Debt/Total Assets (%)	5.1	4.14	5.03	6.16	5.9	5.19	5.24	4.49	3.68	3.51	3.76
CFO/Total Liabilities	2.25	3.11	1.5	0.33	-0.42	5.48	12.67	4.4	0.66	0.1	-1.77
CFO/CapEx	7.48	9.08	0.37	0.1	-0.39	32.85	518.82	62.86	0.93	1.87	-15.41
Altman's Z-Score	0.5	0.43	0.48	0.53	0.53	0.19	0.32	0.41	0.37	0.35	0.31

Working Capital (USD)

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	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y
Accounts Receivable Turnover	- -	10.86	9.19	9.02	7.43	5.42	9.17	12.16	11.65	11.28	9.66
Days Sales Outstanding	- -	33.62	39.71	40.45	49.15	67.29	39.78	30.02	31.33	32.35	37.78
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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	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y
Market Capitalization	6	6	11	20	20	14	9	15	12	10	10
- Cash & Cash Equivalents	3	6	8	19	20	18	7	9	5	4	8
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	4	4	7	8	8	7	8	7	6	5	6
Enterprise Value	6	3	8	9	7	2	9	12	12	12	8
Total Capital	10	10	17	25	25	18	16	16	15	15	14
Total Debt/Capital (%)	42.64	33.75	38.11	33.36	31.74	39.3	48.21	44.03	38.35	36.28	39.39
Total Debt / EV	0.68	1.09	0.78	0.95	1.1	3.02	0.86	0.57	0.47	0.45	0.69
EV/Sales	0.26	0.14	0.31	0.25	0.23	0.09	0.21	0.3	0.33	0.36	0.27
EV/EBITDA	2.77	- -	1.85	- -	5.98	- -	- -	12.4	22.19	17.16	1,716.53
EV/EBIT	2.77	- -	1.85	- -	5.98	- -	- -	12.4	22.19	17.16	1,716.53
EV/Cash Flow to Firm	2.71	1.3	4.2	11.6	- -	0.35	0.54	1.93	9.21	23.35	- -
EV/Free Cash Flow to Firm	2.48	1.19	1.33	2.09	6.35	0.34	0.54	1.9	5.34	20.43	- -
Diluted Market Cap	6	6	14	20	20	14	9	15	12	10	10
Diluted Enterprise Value	7	4	12	10	8	3	10	13	13	12	8
EV per Share	1,405.07	746.32	1,606.04	1,247.79	1,070.34	338.07	1,315.26	1,837.97	1,825.77	1,833	1,223.51
TTM Sales	23	24	27	36	31	27	42	42	37	33	29
TTM EBITDA	2	- -	5	- -	1	-7	-3	1	1	1	- -
TTM Operating Income	2	- -	5	- -	1	-7	-3	1	1	1	- -
TTM Cash Flow to Firm	2	2	2	1	- -	7	17	6	1	1	-2
TTM Free Cash Flow to Firm	2	3	6	4	1	7	17	7	2	1	-1

Multiples (USD)

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	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y
Price/Free Cash Flow	3.36	2.65	2.3	5.08	27.07	2.18	0.52	2.36	6.34	48.68	-4.77
EV/EBIT	2.77	- -	1.85	- -	5.98	- -	- -	12.4	22.19	17.16	1,716.53
Enterprise Value	6	3	8	9	7	2	9	12	12	12	8
Low Price	1,187.5	1,187.5	1,500	2,109.38	2,500	2,025	837.5	987.5	1,505	1,512.5	675
EV/Sales	0.26	0.14	0.31	0.25	0.23	0.09	0.21	0.3	0.33	0.36	0.27
EV/EBITDA	2.77	- -	1.85	- -	5.98	- -	- -	12.4	22.19	17.16	1,716.53
Price/Earnings	7.96	4.08	3.57	3.06	83.93	- -	- -	20.45	46.93	78.12	- -
Price/Earnings Average	8.12	3.91	4.08	3.03	88.4	-2.72	-4.52	14.23	48.47	91.73	-11.49
Price/Earnings High	9.85	5.44	6.55	3.48	116.52	-3.22	-6	20.45	62.33	124.87	-15.82
Price/Earnings Low	7.2	3.23	2.6	2.35	71.43	-2.27	-2.23	9.4	40.13	75.62	-5.29
Price/Book Value	1.02	0.94	1.02	1.16	1.16	1.31	1.03	1.61	1.29	1.09	1.23
Price/Book Value Average	1.04	0.9	1.17	1.15	1.22	1.54	1.39	1.12	1.33	1.28	1.13
Price/Book Value High	1.26	1.25	1.87	1.32	1.61	1.82	1.85	1.61	1.71	1.74	1.55
Price/Book Value Low	0.92	0.74	0.74	0.89	0.99	1.28	0.69	0.74	1.1	1.06	0.52
Price/Tangible Book Value	0.54	0.45	0.51	0.72	0.89	0.75	0.5	0.73	0.63	0.62	0.79
Price/Tangible Book Value Average	0.55	0.43	0.58	0.72	0.94	0.88	0.68	0.5	0.65	0.73	0.72
Price/Tangible Book Value High	0.67	0.61	0.93	0.82	1.24	1.04	0.91	0.73	0.84	1	0.99
Price/Tangible Book Value Low	0.49	0.36	0.37	0.56	0.76	0.73	0.34	0.33	0.54	0.6	0.33
Price/Sales	0.24	0.27	0.4	0.54	0.64	0.52	0.2	0.35	0.32	0.31	0.36
Price/Sales Average	0.25	0.26	0.45	0.54	0.67	0.62	0.28	0.24	0.33	0.36	0.33
Price/Sales High	0.3	0.36	0.72	0.62	0.89	0.73	0.37	0.35	0.43	0.49	0.45
Price/Sales Low	0.22	0.22	0.29	0.42	0.54	0.51	0.14	0.16	0.27	0.3	0.15
Price/Cash Flow	3.58	2.95	6.66	54.67	-42.84	2.24	0.52	2.4	13.14	74.77	-4.46
Price/Cash Flow Average	3.66	2.82	7.61	54.13	-45.12	2.64	0.7	1.67	13.57	87.8	-4.08
Price/Cash Flow High	4.44	3.93	12.21	62.13	-59.48	3.13	0.93	2.4	17.46	119.51	-5.62
Price/Cash Flow Low	3.24	2.33	4.84	41.94	-36.46	2.2	0.35	1.1	11.24	72.38	-1.88
Price/Free Cash Flow Average	3.43	2.54	2.63	5.03	28.51	2.56	0.7	1.64	6.54	57.16	-4.37
Price/Free Cash Flow High	4.17	3.54	4.21	5.78	37.59	3.03	0.93	2.36	8.42	77.81	-6.01
Price/Free Cash Flow Low	3.04	2.1	1.67	3.9	23.04	2.14	0.35	1.09	5.42	47.12	-2.01
EV/Sales Average	0.31	0.15	0.39	0.26	0.29	0.2	0.3	0.21	0.36	0.42	0.25
EV/Sales High	0.36	0.25	0.66	0.34	0.5	0.32	0.39	0.31	0.46	0.55	0.37
EV/Sales Low	0.28	0.1	0.22	0.14	0.16	0.1	0.16	0.13	0.3	0.35	0.07
EV/EBITDA Average	3.24	- -	2.32	- -	7.36	-0.75	-4.2	8.63	24.05	19.76	1,535.67
EV/EBITDA High	3.8	- -	3.96	- -	12.86	-1.16	-5.46	13.04	30.36	25.97	2,310.82
EV/EBITDA Low	2.94	- -	1.33	- -	4.04	-0.37	-2.26	5.21	20.25	16.75	427.36
EV/EBIT Average	3.24	- -	2.32	- -	7.36	-0.75	-4.2	8.63	24.05	19.76	1,535.67
EV/EBIT High	3.8	- -	3.96	- -	12.86	-1.16	-5.46	13.04	30.36	25.97	2,310.82
EV/EBIT Low	2.94	- -	1.33	- -	4.04	-0.37	-2.26	5.21	20.25	16.75	427.36
Last Price	1,312.5	1,500	2,062.5	2,750	2,937.5	2,062.5	1,250	2,147.5	1,760	1,562.5	1,600
High Price	1,625	2,000	3,781.25	3,125	4,078.12	2,875	2,250	2,147.5	2,337.5	2,497.5	2,017.5
Enterprise Value Average	7	4	11	9	9	6	13	9	13	14	7
Enterprise Value High	8	6	18	12	16	9	17	13	17	18	11
Enterprise Value Low	6	2	6	5	5	3	7	5	11	12	2

	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y
Shares Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Revenue per Share	5,378.02	5,508.21	5,216.49	5,054.8	4,599.44	3,935.41	6,138.27	6,155.1	5,481.01	5,073.3	4,465.45
EBITDA per Share	506.73	- -	868.6	- -	178.9	-1,071.68	-440.79	148.25	82.3	106.84	0.71
Operating Income per Share	506.73	- -	868.6	- -	178.9	-1,071.68	-440.79	148.25	82.3	106.84	0.71
Basic EPS, GAAP	164.98	367.47	577.55	897.53	35	-892.5	-374.99	105	37.5	20	-127.5
Basic EPS from Cont Ops	258.82	462.05	631.03	897.53	35	-847.74	-374.99	105	37.5	20	-127.5
Diluted EPS, GAAP	155	367.47	455.03	897.53	35	-892.5	-374.99	105	37.5	20	-127.5
Diluted EPS from Cont Ops	243.17	462.05	497.16	897.53	35	-847.74	-374.99	105	37.5	20	-127.5
Dividend per Share	70.1	94.59	53.48	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	366.27	509.19	309.77	50.3	-68.56	919.54	2,413.54	895.32	133.91	20.9	-358.8
Free Cash Flow per Basic Share	317.3	453.09	-519.28	-440.31	-245.63	891.55	2,408.89	881.08	-9.95	9.7	-382.08
Cash & Equivalents per Share	863.07	1,569.39	1,701.44	2,687.04	3,042.94	2,744.98	1,068.9	1,361.8	783.95	545.38	1,221.26
Book Value per Share	1,285.28	1,601.17	2,022.15	2,366.5	2,528.87	1,576.22	1,218.46	1,337.6	1,365.85	1,433.12	1,299.86
Tangible Book Value per Share	2,437.63	3,303.76	4,060.42	3,795.18	3,295.46	2,768.11	2,478.77	2,961.74	2,787.35	2,502.77	2,037.87

Citizens Financial Corporation

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)