Covenant Logistics Group, Inc. Financial Ratios — CVLG 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 (%)	-74.9	40.58	25.45	55.41	67.77	18.16	42.66	23.72	4.14	-22.74	31	39.17	15.58	10.93	2.6
Return on Assets (%)	-3.27	1.44	1.21	3.54	7.1	2.66	8.73	5.97	1.02	-5.48	9.14	15.01	6.31	3.68	0.71
Return on Capital (%)	- -	5.32	4.12	9.39	16.39	5.13	- -	10.5	1.7	- -	21.74	27.45	10.37	7.43	2.81
Return on Invested Capital (%)	- -	3.72	2.74	6.13	10.82	4.43	- -	7.51	0.77	- -	11.37	12.48	5.6	5	2.19
Gross Margin (%)	- -	- -	- -	- -	- -	- -	- -	15.98	11.85	- -	- -	- -	- -	- -	- -
EBITDA Margin (%)	- -	- -	- -	- -	- -	- -	- -	14.94	9.9	- -	- -	- -	- -	- -	- -
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	6.33	0.8	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	3.13	-977.77	0.26	- -	- -	- -	- -	- -
Pretax Margin (%)	- -	- -	- -	- -	- -	- -	- -	6.34	0.85	- -	- -	- -	- -	- -	- -
Profit Margin (%)	- -	- -	- -	- -	- -	- -	- -	4.83	0.96	- -	- -	- -	- -	- -	- -
Net Income to Common Margin (%)	- -	- -	- -	- -	- -	- -	- -	4.83	0.96	- -	- -	- -	- -	- -	- -
Effective Tax Rate (%)	- -	51.09	58.86	45.34	34.15	38.15	- -	26.78	31.04	- -	26.48	24.41	24.38	23.04	21.12
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3.97	10.58	16.41	162.4
Sustainable Growth Rate (%)	-74.9	40.58	25.45	55.41	67.77	18.16	42.66	23.72	4.14	-22.74	31	37.61	13.94	9.13	-1.62

Credit (USD)

API Chat

	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	248	183	238	202	255	216	214	238	349	112	74	180	293	297	339
ST Debt	104	74	56	29	48	28	28	36	82	31	28	42	60	75	77
LT Debt	144	109	183	173	207	188	186	202	267	80	46	137	233	222	262
Total Debt/EBITDA	3.91	2.57	3.68	2.28	1.96	2.08	2.13	1.81	3.98	1.59	0.63	1.3	2.53	2.23	2.99
Net Debt/EBITDA	3.57	2.25	3.2	1.87	1.82	1.79	1.73	1.32	2.41	0.69	0.15	0.29	2.09	1.62	2.59
Total Debt/EBIT	23.71	7.89	11.69	5.1	3.76	6.66	7.59	4.27	48.99	23.07	1.17	2.24	6.35	6.4	16.55
Net Debt/EBIT	21.62	6.91	10.16	4.19	3.48	5.73	6.17	3.12	29.72	9.98	0.28	0.51	5.24	4.65	14.32
EBITDA to Interest Expense	3.92	5.62	6.24	8.21	15.37	- -	- -	- -	- -	10.28	42.01	44.72	14.58	9.79	9.39
EBITDA-CapEx/Interest Expense	-3.17	2.33	-6.83	-6.94	-6.18	- -	- -	- -	- -	-3.47	29.37	12.13	-12.73	-1.48	-2.85
EBIT to Interest Expense	0.65	1.83	1.96	3.67	8.03	- -	- -	- -	- -	0.71	22.7	26.07	5.8	3.42	1.7
Interest Expense	16	13	10	11	8	- -	- -	- -	- -	7	3	3	8	14	12
Common Equity/Total Assets	2.71	4.49	4.98	7.61	12.86	16.47	24.27	25.95	23.73	24.61	34.57	41.38	39.72	27.91	26.63
Long-Term Debt/Equity (%)	165.75	115.36	182.02	102.19	102.2	79.71	63.09	58.8	76.28	27.57	13.12	36.39	57.78	50.55	64.77
Long-Term Debt/Capital (%)	55.42	54.29	69.82	71.04	61.15	59.21	50.14	46.01	47.86	28.81	15.31	26.95	34.66	38.52	42.4
Long-Term Debt/Total Assets (%)	32.81	27.29	39.17	32.06	31.95	30.37	28.67	26.08	30.29	11.84	7.04	17.23	24.42	22.21	25.03
Total Debt/Equity (%)	285.42	193.51	237.54	119.58	126	91.37	72.43	69.27	99.61	38.39	21.23	47.63	72.74	67.73	83.84
Total Debt/Capital (%)	95.42	91.06	91.12	83.13	75.39	67.88	57.56	54.21	62.5	40.12	24.79	35.27	43.63	51.61	54.88
Total Debt/Total Assets (%)	56.49	45.77	51.11	37.52	39.39	34.81	32.91	30.73	39.56	16.49	11.39	22.55	30.75	29.76	32.39
Net Debt to Equity	260.17	169.28	206.47	98.12	116.57	78.7	58.84	50.73	60.43	16.61	5.05	10.77	60.05	49.2	72.55
Net Debt/Capital (%)	88.3	82.47	82.11	74.77	70.69	59.93	48.78	41.91	41.13	17.9	6.07	9.21	36.14	39.96	47.88
EBITDA	63	71	65	89	130	104	101	132	88	70	117	138	116	133	113
EBITDA-CapEx	-51	30	-71	-75	-52	-9	-10	56	-51	-24	82	37	-101	-20	-34
Operating Income (Loss)	10	23	20	40	68	32	28	56	7	5	63	80	46	46	20

Liquidity (USD)

API Chat

	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	0.03	0.05	0.08	0.21	0.04	0.09	0.19	0.18	0.27	0.06	0.06	0.44	0.01	0.2	0.02
Current Ratio	0.72	0.84	1.13	1.4	1.37	1.54	2	1.66	1.58	1.11	1.32	1.43	1.09	1.18	1.11
Quick Ratio	0.5	0.68	0.88	1.23	1.07	1.34	1.8	1.51	0.86	0.88	1.19	1.26	0.92	1.04	0.85
CFO/Avg Current Liab	0.24	0.4	0.34	0.7	0.75	0.96	0.98	1.2	0.44	0.43	0.53	1.07	0.52	0.7	0.58
Common Equity/Total Assets	2.71	4.49	4.98	7.61	12.86	16.47	24.27	25.95	23.73	24.61	34.57	41.38	39.72	27.91	26.63
Long-Term Debt/Equity (%)	165.75	115.36	182.02	102.19	102.2	79.71	63.09	58.8	76.28	27.57	13.12	36.39	57.78	50.55	64.77
Long-Term Debt/Capital (%)	55.42	54.29	69.82	71.04	61.15	59.21	50.14	46.01	47.86	28.81	15.31	26.95	34.66	38.52	42.4
Long-Term Debt/Total Assets (%)	32.81	27.29	39.17	32.06	31.95	30.37	28.67	26.08	30.29	11.84	7.04	17.23	24.42	22.21	25.03
Total Debt/Equity (%)	285.42	193.51	237.54	119.58	126	91.37	72.43	69.27	99.61	38.39	21.23	47.63	72.74	67.73	83.84
Total Debt/Capital (%)	95.42	91.06	91.12	83.13	75.39	67.88	57.56	54.21	62.5	40.12	24.79	35.27	43.63	51.61	54.88
Total Debt/Total Assets (%)	56.49	45.77	51.11	37.52	39.39	34.81	32.91	30.73	39.56	16.49	11.39	22.55	30.75	29.76	32.39
CFO/Total Liabilities	9.09	18.03	11.05	19.93	19.23	26.67	23.37	29	12.05	16.33	24.25	37.96	15.4	21.98	17.71
CFO/CapEx	0.28	1.32	0.3	0.45	0.47	0.91	0.75	1.66	0.46	0.67	2.08	1.58	0.39	0.8	0.77
Altman's Z-Score	0.08	0.35	0.45	1.11	1.07	1.04	1.52	2.56	1.89	0.84	1.87	1.91	1.56	1.47	1.09

Working Capital (USD)

API Chat

	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	- -	- -	- -	- -	- -	- -	- -	6.9	7.62	- -	- -	- -	- -	- -	- -
Days Sales Outstanding	- -	- -	- -	- -	- -	- -	- -	52.91	47.88	- -	- -	- -	- -	- -	- -
Inventory Turnover	126.12	127.93	129.83	132.9	141.18	143.64	149.07	178.26	188.59	198.94	279.02	301.47	224.62	179.46	165.89
Days Inventory Outstanding	2.89	2.85	2.81	2.75	2.59	2.54	2.45	2.05	1.94	1.83	1.31	1.21	1.62	2.03	2.2
Accounts Payable Turnover	73.27	62.38	65.57	67.51	54.16	45.32	49.21	43.56	37.53	28.44	29.18	32.32	28.06	28.96	25.71
Accounts Payable Turnover Days	4.98	5.85	5.57	5.41	6.74	8.05	7.42	8.38	9.73	12.84	12.51	11.29	13.01	12.6	14.2
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	46.58	40.09	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	50.86	45.95	- -	- -	- -	- -	- -	- -
Inventories	5	5	5	4	4	4	4	4	4	3	3	4	5	6	6
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	5	5	5	4	4	4	4	4	4	3	3	4	5	6	6

Enterprise Value (USD)

API Chat

	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	44	82	122	414	343	352	525	352	239	257	444	519	601	717	565
- Cash & Cash Equivalents	4	7	9	21	4	8	15	23	44	8	8	69	2	36	5
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	248	183	238	202	255	216	214	238	349	112	74	180	293	297	339
Enterprise Value	288	258	351	595	593	560	723	567	544	360	510	630	892	978	899
Total Capital	260	201	262	243	338	318	371	438	558	278	300	509	673	575	617
Total Debt/Capital (%)	95.42	91.06	91.12	83.13	75.39	67.88	57.56	54.21	62.5	40.12	24.79	35.27	43.63	51.61	54.88
Total Debt / EV	0.86	0.71	0.68	0.34	0.43	0.39	0.3	0.42	0.64	0.31	0.15	0.29	0.33	0.3	0.38
EV/Sales	- -	- -	- -	- -	- -	- -	- -	0.64	0.61	- -	- -	- -	- -	- -	- -
EV/EBITDA	4.54	3.62	5.41	6.7	4.57	5.38	7.19	4.31	6.2	5.12	4.35	4.57	7.68	7.36	7.94
EV/EBIT	27.52	11.12	17.22	15	8.75	17.26	25.69	10.17	76.38	74.49	8.05	7.84	19.29	21.09	43.93
EV/Cash Flow to Firm	6.25	4.21	7.85	7.46	6.51	5.47	8.73	4.54	8.49	5.24	6.77	3.9	9.82	7.34	7.3
EV/Free Cash Flow to Firm	1.79	2.5	1.94	2.44	2.17	2.6	3.74	2.83	2.69	2.21	4.61	2.4	2.89	3.42	3.32
Diluted Market Cap	44	82	124	421	346	353	528	355	241	257	450	537	637	755	593
Diluted Enterprise Value	288	258	353	602	596	562	726	569	546	360	516	648	928	1,017	927
EV per Share	9.82	8.75	11.83	19.49	16.34	15.4	19.79	15.45	14.75	10.38	15.17	20.98	34.18	37.19	35.05
TTM Sales	- -	- -	- -	- -	- -	- -	- -	880	885	- -	- -	- -	- -	- -	- -
TTM EBITDA	63	71	65	89	130	104	101	132	88	70	117	138	116	133	113
TTM Operating Income	10	23	20	40	68	32	28	56	7	5	63	80	46	46	20
TTM Cash Flow to Firm	46	61	45	80	91	102	83	125	64	69	75	162	91	133	123
TTM Free Cash Flow to Firm	161	103	181	243	273	215	194	200	202	163	111	262	308	286	271

Multiples (USD)

API Chat

	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	0.3	0.85	0.7	1.77	1.29	1.64	2.72	1.77	1.19	1.64	4.15	2.07	2.11	2.74	2.27
EV/EBIT	27.52	11.12	17.22	15	8.75	17.26	25.69	10.17	76.38	74.49	8.05	7.84	19.29	21.09	43.93
Enterprise Value	288	258	351	595	593	560	723	567	544	360	510	630	892	978	899
Low Price	1.17	1.42	2.42	3.92	8.42	6.8	7.93	9.06	6.27	3.27	7.04	8.62	14.67	21.5	17.46
EV/Sales	- -	- -	- -	- -	- -	- -	- -	0.64	0.61	- -	- -	- -	- -	- -	- -
EV/EBITDA	4.54	3.62	5.41	6.7	4.57	5.38	7.19	4.31	6.2	5.12	4.35	4.57	7.68	7.36	7.94
Price/Earnings	- -	13.47	23.26	23.22	8.14	20.89	9.47	8.28	28.14	- -	7.31	4.77	10.88	19.96	78.09
Price/Earnings Average	-6.78	9.99	17.53	12.25	11.18	21.68	7.23	12.11	37.67	-5.78	6.2	3.79	9.72	18.43	81.63
Price/Earnings High	-10.3	14.58	23.48	24.92	15.87	27.84	10.1	15.18	54.32	-8.41	9.61	5.57	13.6	22.53	104.41
Price/Earnings Low	-2.41	6.9	13.69	6.71	7.26	14.69	5.23	7.82	27.27	-2.66	3.9	2.38	6.93	15.75	61.86
Price/Book Value	3.67	4.54	5.25	10.07	4.12	3.44	3.33	1.75	1.14	1.54	1.97	1.57	1.58	2.58	2.03
Price/Book Value Average	8.12	3.37	3.96	5.31	5.66	3.57	2.54	2.56	1.53	1.48	1.67	1.25	1.42	2.38	2.12
Price/Book Value High	12.33	4.92	5.3	10.81	8.04	4.59	3.55	3.21	2.2	2.16	2.59	1.84	1.98	2.91	2.71
Price/Book Value Low	2.88	2.33	3.09	2.91	3.68	2.42	1.84	1.66	1.1	0.68	1.05	0.78	1.01	2.03	1.61
Price/Tangible Book Value	0.51	0.87	1.22	2.45	1.7	1.49	1.78	1.31	0.86	1.15	1.55	1.92	2.63	2.66	2.59
Price/Tangible Book Value Average	1.12	0.64	0.92	1.29	2.33	1.54	1.36	1.91	1.15	1.1	1.31	1.52	2.35	2.46	2.71
Price/Tangible Book Value High	1.7	0.94	1.23	2.63	3.31	1.98	1.9	2.4	1.66	1.61	2.04	2.24	3.29	3.01	3.47
Price/Tangible Book Value Low	0.4	0.44	0.72	0.71	1.51	1.05	0.98	1.24	0.83	0.51	0.83	0.95	1.68	2.1	2.06
Price/Sales	- -	- -	- -	- -	- -	- -	- -	0.4	0.27	- -	- -	- -	- -	- -	- -
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	0.58	0.36	- -	- -	- -	- -	- -	- -
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	0.73	0.52	- -	- -	- -	- -	- -	- -
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	0.38	0.26	- -	- -	- -	- -	- -	- -
Price/Cash Flow	1.37	1.48	3.02	5.61	4.01	3.43	6.34	2.82	3.73	4.08	6.07	3.26	7.08	5.83	4.97
Price/Cash Flow Average	3.02	1.1	2.27	2.96	5.5	3.56	4.84	4.12	4.99	3.92	5.14	2.59	6.33	5.39	5.2
Price/Cash Flow High	4.58	1.61	3.04	6.02	7.82	4.58	6.76	5.17	7.19	5.7	7.97	3.8	8.85	6.59	6.65
Price/Cash Flow Low	1.07	0.76	1.78	1.62	3.57	2.41	3.5	2.66	3.61	1.8	3.23	1.62	4.51	4.6	3.94
Price/Free Cash Flow Average	0.66	0.63	0.53	0.93	1.78	1.7	2.08	2.59	1.6	1.57	3.51	1.64	1.88	2.53	2.37
Price/Free Cash Flow High	1	0.92	0.71	1.9	2.52	2.19	2.9	3.25	2.3	2.29	5.45	2.41	2.63	3.09	3.04
Price/Free Cash Flow Low	0.23	0.43	0.41	0.51	1.15	1.15	1.5	1.67	1.16	0.72	2.21	1.03	1.34	2.16	1.8
EV/Sales Average	- -	- -	- -	- -	- -	- -	- -	0.83	0.71	- -	- -	- -	- -	- -	- -
EV/Sales High	- -	- -	- -	- -	- -	- -	- -	0.98	0.86	- -	- -	- -	- -	- -	- -
EV/Sales Low	- -	- -	- -	- -	- -	- -	- -	0.62	0.61	- -	- -	- -	- -	- -	- -
EV/EBITDA Average	5.38	3.32	4.95	4.5	5.55	5.51	5.96	5.54	7.13	4.98	3.77	3.79	7.13	6.95	8.17
EV/EBITDA High	6.17	3.71	5.43	7.04	7.08	6.5	7.54	6.53	8.74	6.58	5.54	5.2	8.97	8.06	9.63
EV/EBITDA Low	4.39	3.06	4.64	3.39	4.28	4.38	4.86	4.16	6.12	3.08	2.58	2.68	5.8	6.22	6.9
EV/EBIT Average	32.58	10.21	15.74	10.07	10.63	17.67	21.29	13.09	87.73	72.41	6.98	6.51	17.91	19.9	45.18
EV/EBIT High	37.36	11.41	17.27	15.76	13.55	20.86	26.93	15.43	107.55	95.63	10.25	8.92	22.54	23.08	53.24
EV/EBIT Low	26.62	9.4	14.76	7.58	8.2	14.04	17.35	9.82	75.34	44.81	4.78	4.6	14.58	17.82	38.19
Last Price	1.49	2.77	4.11	13.56	9.44	9.67	14.36	9.6	6.47	7.4	13.22	17.28	23.02	27.26	22.04
High Price	5	3	4.15	14.55	18.41	12.89	15.31	17.59	12.49	10.35	17.38	20.18	28.78	30.77	29.47
Enterprise Value Average	341	237	321	399	721	573	599	729	625	350	442	523	828	923	925
Enterprise Value High	391	265	352	625	918	677	758	860	766	462	650	717	1,042	1,071	1,090
Enterprise Value Low	279	218	301	301	556	456	488	547	536	217	303	370	674	827	782

	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	29	30	30	36	36	36	37	37	37	34	34	27	26	26	25
Diluted Weighted Avg Shares	29	30	30	31	37	37	37	37	37	35	34	31	28	28	27
Basic Weighted Avg Shares	29	29	30	30	36	36	37	37	37	35	34	30	26	26	26
Revenue per Share	- -	- -	- -	- -	- -	- -	- -	24	24.01	- -	- -	- -	- -	- -	- -
EBITDA per Share	2.16	2.42	2.19	2.91	3.58	2.86	2.75	3.59	2.38	2.03	3.49	4.59	4.45	5.05	4.41
Operating Income per Share	0.36	0.79	0.69	1.3	1.87	0.89	0.77	1.52	0.19	0.14	1.89	2.68	1.77	1.76	0.8
Basic EPS, GAAP	-0.49	0.21	0.18	0.58	1.16	0.46	1.52	1.16	0.23	-1.23	1.81	3.62	2.12	1.37	0.28
Basic EPS from Cont Ops	-0.49	0.21	0.18	0.58	1.16	0.46	1.52	1.11	0.14	-0.41	1.73	3.6	2.09	1.34	0.17
Diluted EPS, GAAP	-0.49	0.2	0.17	0.57	1.15	0.46	1.51	1.15	0.23	-1.23	1.78	3.5	2	1.3	0.27
Diluted EPS from Cont Ops	-0.49	0.2	0.17	0.57	1.15	0.46	1.51	1.11	0.14	-0.41	1.71	3.48	1.97	1.27	0.16
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.14	0.22	0.22	0.28
Cash Flow per Share	1.09	1.87	1.36	2.42	2.36	2.82	2.27	3.4	1.74	1.82	2.18	5.31	3.25	4.67	4.43
Free Cash Flow per Basic Share	-2.82	0.45	-3.22	-2.95	-2.66	-0.29	-0.76	1.35	-2.01	-0.89	1.13	1.96	-5.09	-1.14	-1.32
Cash & Equivalents per Share	0.13	0.23	0.31	0.7	0.12	0.21	0.42	0.63	1.18	0.24	0.25	2.29	0.09	1.35	0.19
Book Value per Share	0.41	0.61	0.78	1.35	2.29	2.81	4.31	5.47	5.68	4.8	6.7	10.98	14.53	10.58	10.86
Tangible Book Value per Share	2.93	3.19	3.37	5.54	5.57	6.5	8.07	7.33	7.54	6.44	8.53	9.02	8.74	10.24	8.5

Covenant Logistics Group, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)