Capital Southwest Corporation Financial Ratios — CSWC Stock

Profitability (USD)

	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	2026 Y
Return on Common Equity (%)	1,867.4	2,555.56	2,418.18	1,887.74	-251.46	639.62	105.32	47.16	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	15.81	16.58	15.49	6.87	-1.02	7.69	10.58	6.82	-3.93	7.71	5.01	2.97	5.93	4.1	5.57
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 (%)	0.03	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	93.31	92.83	92.45	81.24	-45.91	66.61	74.01	69.42	6,841.1	76.56	56.43	65.2	77.57	72.95	79.48
Profit Margin (%)	93.2	92.33	93.07	80.83	-37.12	61.14	73.9	67.64	9,470.76	70.11	51.58	53.85	76.46	64.81	74.66
Net Income to Common Margin (%)	93.2	92.33	93.07	80.83	-37.12	61.14	73.9	67.64	9,470.76	70.11	51.58	53.85	76.46	64.18	73.86
Effective Tax Rate (%)	0.13	0.54	- -	0.5	- -	8.22	0.16	2.56	- -	8.42	8.59	17.4	1.43	11.16	6.06
Dvd Payout Ratio (%)	3.23	74.49	2.72	5.77	-269.33	25.53	47.28	128.67	-225.24	78.5	136.92	214.86	123.43	178.33	130.63
Sustainable Growth Rate (%)	1,807.11	651.88	2,352.33	1,778.84	-928.71	476.29	55.52	-13.52	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	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	2026 Y
Total Debt	- -	- -	- -	- -	- -	25	95	216	303	381	529	638	771	956	1,131
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	- -	- -	- -	- -	- -	25	95	216	303	381	529	638	771	956	1,131
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBITDA	-2,595.8	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	0.75	0.55	0.72	0.01	1.48	0.96	17.13	12.45	-2.51	0.51	-0.35	-2.56	-2.65	-4.01	-2.93
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	8.77	30.91	66.3	111.41	113.4	125.6	108	102.01	108.2	111.89
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	88.87	57.13	75.88	105.09	99.03	100.65	105.33	105.66	108.57	105.98
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	7.67	22.83	39.16	51.85	51.84	54.27	50.7	49.52	50.78	51.95
Total Debt/Equity (%)	- -	- -	- -	- -	- -	8.77	30.91	66.3	111.41	113.4	125.6	108	102.01	108.2	111.89
Total Debt/Capital (%)	- -	- -	- -	- -	- -	88.87	57.13	75.88	105.09	99.03	100.65	105.33	105.66	108.57	105.98
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	7.67	22.83	39.16	51.85	51.84	54.27	50.7	49.52	50.78	51.95
Net Debt to Equity	-10.32	-12.39	-11.44	-29.42	-35.2	-7.85	-2.56	-3.04	-5.05	-9.4	-2.72	-3.66	-4.27	-4.89	-2.87
Net Debt/Capital (%)	107.9	104.72	106.75	100.04	104.59	-389.66	-4.98	-3.61	-5	-8.94	-2.23	-3.7	-4.63	-5.16	-2.8
EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-2	- -	- -	-2	- -
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	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	2026 Y
Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	0.75	0.55	0.72	0.01	1.48	0.96	17.13	12.45	-2.51	0.51	-0.35	-2.56	-2.65	-4.01	-2.93
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	8.77	30.91	66.3	111.41	113.4	125.6	108	102.01	108.2	111.89
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	88.87	57.13	75.88	105.09	99.03	100.65	105.33	105.66	108.57	105.98
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	7.67	22.83	39.16	51.85	51.84	54.27	50.7	49.52	50.78	51.95
Total Debt/Equity (%)	- -	- -	- -	- -	- -	8.77	30.91	66.3	111.41	113.4	125.6	108	102.01	108.2	111.89
Total Debt/Capital (%)	- -	- -	- -	- -	- -	88.87	57.13	75.88	105.09	99.03	100.65	105.33	105.66	108.57	105.98
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	7.67	22.83	39.16	51.85	51.84	54.27	50.7	49.52	50.78	51.95
CFO/Total Liabilities	520.66	1,180.71	101.29	2,055.05	-940.34	-220.15	-58.48	-41.93	-15.33	-17.09	-33.03	-34.03	-23.53	-21.74	-16.59
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-91.57	-808.19	-14,499.69	-130.41	-676.59
Altman's Z-Score	18.7	12.51	14.18	16.83	11.02	4.06	1.85	1.19	0.35	0.73	0.66	0.48	0.78	0.63	0.02

Working Capital (USD)

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	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	2026 Y
Accounts Receivable Turnover	101.78	119.12	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Sales Outstanding	3.59	3.06	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
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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	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	2026 Y
Market Capitalization	132	162	194	264	217	268	274	352	206	422	542	534	1,017	1,059	- -
- Cash & Cash Equivalents	65	82	88	226	96	22	8	10	14	32	11	22	32	43	29
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	- -	- -	25	95	216	303	381	529	638	771	956	1,131
Enterprise Value	67	81	106	38	121	270	361	558	495	772	1,059	1,150	1,755	1,972	1,102
Total Capital	5	4	6	- -	4	28	167	285	289	385	525	605	730	881	1,067
Total Debt/Capital (%)	- -	- -	- -	- -	- -	88.87	57.13	75.88	105.09	99.03	100.65	105.33	105.66	108.57	105.98
Total Debt / EV	- -	- -	- -	- -	- -	0.09	0.26	0.39	0.61	0.49	0.5	0.55	0.44	0.48	1.03
EV/Sales	0.68	0.69	0.88	0.58	8.31	7.04	6.79	11.42	- -	10.64	12.76	18.71	16.09	18.12	7.28
EV/EBITDA	2,697.92	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	3.02	0.86	12.6	0.2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	3.02	0.86	12.6	0.2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	132	162	195	265	218	268	275	352	206	422	542	534	1,017	1,143	- -
Diluted Enterprise Value	67	81	107	39	122	271	362	558	495	772	1,059	1,150	1,755	2,055	1,102
EV per Share	4.42	5.23	6.96	2.46	7.73	17.08	22.46	33.37	27.51	40.51	46.37	38.3	43.09	41.56	- -
TTM Sales	100	117	120	66	15	38	53	49	- -	73	83	61	109	109	151
TTM EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	22	93	8	194	-112	-90	-64	-95	-48	-68	-183	-227	-188	-217	-194
TTM Free Cash Flow to Firm	22	93	8	194	-112	-90	-64	-95	-48	-68	-181	-227	-188	-216	-193

Multiples (USD)

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	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	2026 Y
Price/Free Cash Flow	5.93	1.74	23.18	1.36	-1.96	-3	-4.3	-3.72	-4.29	-6.19	-3	-2.35	-5.39	-5.3	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	67	81	106	38	121	270	361	558	495	772	1,059	1,150	1,755	1,972	1,102
Low Price	6.43	7.57	10.34	11.75	13.19	13.49	14.85	16.53	7.39	8.76	22.16	16.28	17.22	20.68	17.46
EV/Sales	0.68	0.69	0.88	0.58	8.31	7.04	6.79	11.42	- -	10.64	12.76	18.71	16.09	18.12	7.28
EV/EBITDA	2,697.92	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	1.42	1.5	1.73	4.94	- -	11.4	6.96	10.65	- -	8.3	12.66	16.13	12.19	15.16	- -
Price/Earnings Average	1.34	1.38	1.69	4.11	-46.58	10.05	6.8	9.71	-16.73	5.89	13.62	17.58	10.59	16.5	- -
Price/Earnings High	1.53	1.72	1.88	5.37	-55.22	11.4	7.36	12.24	-18.44	8.52	15.16	22.13	12.78	18.49	- -
Price/Earnings Low	1.05	1.08	1.41	3.41	-38.19	9.09	6.07	8.36	-5.95	3.28	11.82	14.77	8.41	14.05	- -
Price/Book Value	27.86	44	34.82	3,069.55	51.52	85.47	3.83	5.12	-14	112.9	-157.97	-16.55	-24.63	-14.03	- -
Price/Book Value Average	26.22	40.43	33.92	2,555.24	59.76	75.35	3.74	4.67	-25.46	80.18	-169.92	-18.05	-21.4	-15.27	- -
Price/Book Value High	29.94	50.34	37.82	3,336.16	70.84	85.47	4.05	5.89	-28.07	115.91	-189.12	-22.72	-25.83	-17.12	- -
Price/Book Value Low	20.64	31.57	28.24	2,116.62	49	68.18	3.34	4.03	-9.06	44.63	-147.52	-15.16	-16.99	-13	- -
Price/Tangible Book Value	0.21	0.25	0.25	0.34	0.8	0.94	0.89	1.08	0.76	1.26	1.29	0.9	1.35	1.2	- -
Price/Tangible Book Value Average	0.2	0.23	0.25	0.29	0.92	0.83	0.87	0.98	1.37	0.89	1.39	0.99	1.17	1.3	- -
Price/Tangible Book Value High	0.23	0.28	0.27	0.37	1.09	0.94	0.94	1.24	1.51	1.29	1.54	1.24	1.41	1.46	- -
Price/Tangible Book Value Low	0.16	0.18	0.2	0.24	0.76	0.75	0.77	0.85	0.49	0.5	1.2	0.83	0.93	1.11	- -
Price/Sales	1.33	1.39	1.61	3.99	14.91	6.97	5.14	7.2	-871.01	5.82	6.53	8.68	9.32	9.73	- -
Price/Sales Average	1.25	1.28	1.57	3.32	17.29	6.14	5.03	6.56	-1,584.44	4.13	7.02	9.47	8.1	10.59	- -
Price/Sales High	1.43	1.59	1.75	4.34	20.5	6.97	5.44	8.28	-1,746.59	5.97	7.82	11.92	9.77	11.87	- -
Price/Sales Low	0.98	1	1.31	2.75	14.18	5.56	4.49	5.66	-563.64	2.3	6.1	7.95	6.43	9.01	- -
Price/Cash Flow	5.93	1.74	23.08	1.36	-1.94	-2.99	-4.28	-3.72	-4.29	-6.19	-2.97	-2.35	-5.39	-4.87	- -
Price/Cash Flow Average	5.59	1.6	22.48	1.13	-2.26	-2.63	-4.19	-3.39	-7.8	-4.39	-3.19	-2.56	-4.69	-5.31	- -
Price/Cash Flow High	6.38	1.99	25.07	1.48	-2.67	-2.99	-4.53	-4.27	-8.6	-6.35	-3.55	-3.22	-5.65	-5.95	- -
Price/Cash Flow Low	4.4	1.25	18.72	0.94	-1.85	-2.38	-3.74	-2.92	-2.77	-2.45	-2.77	-2.15	-3.72	-4.52	- -
Price/Free Cash Flow Average	5.59	1.6	22.59	1.13	-2.27	-2.64	-4.2	-3.39	-7.8	-4.39	-3.23	-2.57	-4.69	-5.77	- -
Price/Free Cash Flow High	6.38	1.99	25.19	1.48	-2.69	-3	-4.55	-4.27	-8.6	-6.35	-3.59	-3.23	-5.65	-6.47	- -
Price/Free Cash Flow Low	4.4	1.25	18.8	0.94	-1.86	-2.39	-3.75	-2.92	-2.77	-2.45	-2.8	-2.15	-3.72	-4.91	- -
EV/Sales Average	0.6	0.58	0.84	- -	10.69	6.21	6.67	10.78	- -	8.95	13.25	19.49	14.87	18.98	7.28
EV/Sales High	0.78	0.89	1.02	0.92	13.9	7.04	7.08	12.49	- -	10.79	14.05	21.94	16.54	20.26	7.28
EV/Sales Low	0.33	0.3	0.58	- -	7.58	5.63	6.13	9.88	- -	7.12	12.33	17.98	13.2	17.4	7.28
EV/EBITDA Average	2,386.74	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA High	3,094.34	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Low	1,325.7	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	8.68	10.55	12.75	17.04	13.87	16.91	17.02	21.04	11.42	22.16	23.73	17.78	24.96	22.32	22.12
High Price	9.33	12.07	13.85	18.52	19.07	16.91	18	24.18	22.9	22.75	28.41	24.4	26.17	27.23	23.84
Enterprise Value Average	60	67	101	-6	156	239	355	527	663	650	1,100	1,198	1,622	2,066	1,102
Enterprise Value High	77	104	123	61	202	270	377	611	702	783	1,166	1,348	1,804	2,205	1,102
Enterprise Value Low	33	35	69	-44	110	216	326	483	423	517	1,023	1,105	1,440	1,894	1,102

	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	2026 Y
Shares Outstanding	15	15	15	16	16	16	16	18	18	21	25	36	45	53	61
Diluted Weighted Avg Shares	15	15	15	16	16	16	16	17	18	19	23	30	41	51	- -
Basic Weighted Avg Shares	15	15	15	15	16	16	16	17	18	19	23	30	41	47	- -
Revenue per Share	6.55	7.59	7.9	4.27	0.93	2.43	3.31	2.92	-0.01	3.81	3.63	2.05	2.68	2.29	- -
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	6.1	7.01	7.36	3.45	-0.35	1.48	2.45	1.98	-1.24	2.67	1.87	1.1	2.05	1.47	- -
Basic EPS from Cont Ops	6.1	7.01	7.36	3.45	-0.35	1.48	2.45	1.98	-1.24	2.67	1.87	1.1	2.05	1.49	- -
Diluted EPS, GAAP	6.1	7.01	7.32	3.44	-0.34	1.48	2.44	1.98	-1.24	2.67	1.87	1.1	2.05	1.36	- -
Diluted EPS from Cont Ops	6.1	7.01	7.32	3.44	-0.34	1.48	2.44	1.98	-1.24	2.67	1.87	1.1	2.05	1.38	- -
Dividend per Share	0.2	5.22	0.2	0.2	0.93	0.38	1.16	2.54	2.8	2.1	2.57	2.37	2.53	2.64	- -
Cash Flow per Share	1.46	6.06	0.55	12.54	-7.13	-5.66	-3.97	-5.66	-2.66	-3.58	-8	-7.57	-4.63	-4.58	- -
Free Cash Flow per Basic Share	1.46	6.06	0.55	12.54	-7.13	-5.66	-3.97	-5.66	-2.66	-3.58	-8.09	-7.58	-4.63	-4.61	- -
Cash & Equivalents per Share	4.26	5.32	5.79	14.58	6.14	1.41	0.49	0.59	0.76	1.66	0.5	0.72	0.79	0.91	- -
Book Value per Share	0.31	0.24	0.37	0.01	0.27	0.2	4.45	4.11	-0.82	0.2	-0.15	-1.07	-1.01	-1.59	- -
Tangible Book Value per Share	41.24	42.89	50.59	49.54	17.44	18.01	19.18	19.49	15.12	17.64	18.43	19.67	18.55	18.62	- -

Capital Southwest Corporation

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)