Citizens Bancshares Corporation Financial Ratios — CZBS

Profitability (USD)

	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2008	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	3.71	2.56	1.12	0.11	1.88	3.83	5.2	5	11.96	9.09	9.31	9.64	13.29	11	10.7
Return on Assets (%)	0.3	0.28	0.16	0.07	0.19	0.34	0.46	0.46	1.16	0.93	0.88	0.82	1.14	1.03	1.03
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	1.78	- -	- -	- -	- -	- -	3.75	3.45	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	10.77	10.86	7.06	8.51	9.63	18.2	20.42	21.78	- -	- -	- -	- -	- -	- -	- -
Operating Margin (%)	5.62	4.02	-1.28	- -	-0.65	6.91	11.45	12.75	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	4,273.74	-9.44	- -	-21.6	- -	-43.14	-198.84	-60.84	-20.56	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	5.62	4.02	-1.28	-4.06	-0.65	6.91	11.45	12.75	27.19	24.4	28.09	26	32.34	30.09	28.12
Profit Margin (%)	5.41	4.85	2.95	1.34	3.76	7.78	10.66	10.91	20.88	20.29	22.43	20.66	25.66	23.81	22.84
Net Income to Common Margin (%)	5.41	3.38	1.48	0.16	2.6	6.41	9.26	9.49	20.88	20.29	22.43	20.66	25.66	23.81	22.84
Effective Tax Rate (%)	3.72	- -	- -	- -	- -	- -	6.88	14.39	23.21	16.82	20.17	20.57	20.65	20.85	18.78
Dvd Payout Ratio (%)	38.9	48.32	58.76	530.29	31.81	15.45	10.93	10.89	11.15	11.4	10.88	10.15	7.07	8	7.78
Sustainable Growth Rate (%)	2.27	1.32	0.46	-0.49	1.28	3.24	4.63	4.46	10.62	8.05	8.3	8.66	12.35	10.12	9.87

Credit (USD)

API ChatGPT

	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2008	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	29	14	- -	- -	- -	- -	- -	5	21	28	28	28	25	25	25
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	29	14	- -	- -	- -	- -	- -	5	21	28	28	28	25	25	25
Total Debt/EBITDA	14.21	6.31	0.22	0.18	0.15	0.09	0.07	1.44	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBITDA	6.11	-5.54	-15.72	-19.51	-20.34	-9.27	-14	-7.73	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBIT	27.24	17.02	-1.2	- -	-2.21	0.23	0.13	2.46	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	11.73	-14.94	86.34	- -	302.42	-24.41	-24.97	-13.21	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	7.98	7.25	7.27	7.09	7.21	7.61	7.82	8.32	10.69	9.83	9.18	7.96	9.18	9.48	9.74
Long-Term Debt/Equity (%)	85.31	34.32	0.72	0.64	0.59	0.59	0.51	10.39	33.83	40.46	37.97	42	32.15	29.52	24.74
Long-Term Debt/Capital (%)	50.61	28.96	0.81	0.77	0.72	0.66	0.59	10.59	25.26	29.08	27.38	25.98	21.91	20.38	18.8
Long-Term Debt/Total Assets (%)	8.25	3.74	0.08	0.08	0.07	0.07	0.06	1.35	3.61	4.03	3.46	2.79	2.58	2.43	2.26
Total Debt/Equity (%)	86.02	34.32	0.72	0.64	0.59	0.59	0.51	10.39	33.83	40.46	37.97	42	32.15	29.52	24.74
Total Debt/Capital (%)	51.03	28.96	0.81	0.77	0.72	0.66	0.59	10.59	25.26	29.08	27.38	25.98	21.91	20.38	18.8
Total Debt/Total Assets (%)	8.32	3.74	0.08	0.08	0.07	0.07	0.06	1.35	3.61	4.03	3.46	2.79	2.58	2.43	2.26
Net Debt to Equity	37.02	-30.13	-51.55	-68.49	-81.37	-63.15	-97.86	-55.7	-141.45	-224.1	-388.96	-317.65	-192.67	-190.25	-145.84
Net Debt/Capital (%)	30.96	-55.71	-144	-492.16	-10,609.91	-241.47	844.89	-174.09	1,880.63	263.7	155.42	203.63	419.54	418.92	1,026.55
EBITDA	2	2	2	2	2	3	3	4	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx	1	1	1	1	2	3	3	3	- -	-2	-2	-1	- -	-2	-1
Operating Income (Loss)	1	1	- -	- -	- -	1	2	2	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

API ChatGPT

	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2008	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	7.98	7.25	7.27	7.09	7.21	7.61	7.82	8.32	10.69	9.83	9.18	7.96	9.18	9.48	9.74
Long-Term Debt/Equity (%)	85.31	34.32	0.72	0.64	0.59	0.59	0.51	10.39	33.83	40.46	37.97	42	32.15	29.52	24.74
Long-Term Debt/Capital (%)	50.61	28.96	0.81	0.77	0.72	0.66	0.59	10.59	25.26	29.08	27.38	25.98	21.91	20.38	18.8
Long-Term Debt/Total Assets (%)	8.25	3.74	0.08	0.08	0.07	0.07	0.06	1.35	3.61	4.03	3.46	2.79	2.58	2.43	2.26
Total Debt/Equity (%)	86.02	34.32	0.72	0.64	0.59	0.59	0.51	10.39	33.83	40.46	37.97	42	32.15	29.52	24.74
Total Debt/Capital (%)	51.03	28.96	0.81	0.77	0.72	0.66	0.59	10.59	25.26	29.08	27.38	25.98	21.91	20.38	18.8
Total Debt/Total Assets (%)	8.32	3.74	0.08	0.08	0.07	0.07	0.06	1.35	3.61	4.03	3.46	2.79	2.58	2.43	2.26
CFO/Total Liabilities	1.24	-0.6	1.7	1.93	2.64	1.35	1.07	0.7	1.5	0.57	1.99	1.23	1.38	1.11	1.53
CFO/CapEx	7.13	-1.91	13.91	15.94	23.56	18.51	10.48	8.07	17.4	1.56	8.69	17.2	35.99	5.78	18
Altman's Z-Score	0.17	0.16	0.15	0.14	0.14	0.15	0.16	0.17	0.19	0.18	0.16	0.18	0.17	0.24	0.18

Working Capital (USD)

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	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2008	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover

- -

Days Sales Outstanding

- -

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)

API ChatGPT

	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2008	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	54	- -	101	- -
- Cash & Cash Equivalents	16	27	24	34	40	30	49	33	88	153	282	211	149	162	147
+ Preferred Equity and Hybrid Capital	- -	7	12	12	12	12	12	12	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	29	14	- -	- -	- -	- -	- -	5	21	28	28	28	25	25	25
Enterprise Value	10	-8	-14	-23	-29	-17	-37	-16	-67	-125	-254	-129	-124	-36	-122
Total Capital	57	50	40	40	41	42	43	49	83	95	101	108	113	123	133
Total Debt/Capital (%)	51.03	28.96	0.81	0.77	0.72	0.66	0.59	10.59	25.26	29.08	27.38	25.98	21.91	20.38	18.8
Total Debt / EV	2.85	-1.93	-0.02	-0.01	-0.01	-0.02	-0.01	-0.32	-0.31	-0.22	-0.11	-0.22	-0.2	-0.7	-0.2
EV/Sales	0.54	- -	- -	- -	- -	- -	- -	0.08	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	4.99	- -	- -	- -	- -	- -	- -	0.34	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	9.57	- -	- -	- -	- -	- -	- -	0.59	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	2.6	- -	- -	- -	- -	- -	- -	0.53	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	2.28	- -	- -	- -	- -	- -	- -	0.47	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	5	6	9	7	10	13	19	18	23	21	21	56	77	104	- -
Diluted Enterprise Value	18	1	-3	-14	-18	-4	-17	2	-44	-105	-233	-127	-47	-32	-122
EV per Share	- -	- -	- -	- -	- -	- -	- -	0.57	- -	- -	- -	- -	- -	- -	- -
TTM Sales	19	21	21	20	20	17	17	17	27	29	29	36	44	43	48
TTM EBITDA	2	2	2	2	2	3	3	4	- -	- -	- -	- -	- -	- -	- -
TTM Operating Income	1	1	- -	- -	- -	1	2	2	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	4	-2	6	7	9	5	4	2	8	4	14	12	12	11	15
TTM Free Cash Flow to Firm	4	-1	6	7	10	5	4	3	8	6	16	12	13	12	16

Multiples (USD)

API ChatGPT

	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2008	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	1.23	-6.48	1.38	1.05	1.02	2.74	4.77	6.71	2.81	3.55	1.3	4.61	6.09	8.42	- -
EV/EBIT	9.57	- -	- -	- -	- -	- -	- -	0.59	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	10	-8	-14	-23	-29	-17	-37	-16	-67	-125	-254	-129	-124	-36	-122
Low Price	2.5	2.51	2.75	2.59	3.24	3.81	6.15	7.51	9.4	8.25	9.8	10.01	27.1	37.25	39.01
EV/Sales	0.54	- -	- -	- -	- -	- -	- -	0.08	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	4.99	- -	- -	- -	- -	- -	- -	0.34	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	7.36	- -	9.81	- -
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	4.47	- -	9.29	- -
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	8.03	- -	12.08	- -
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2.68	- -	7.14	- -
Price/Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.68	- -	1.03	- -
Price/Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.41	- -	0.97	- -
Price/Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.74	- -	1.27	- -
Price/Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.25	- -	0.75	- -
Price/Tangible Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.29	- -	1.63	- -
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.78	- -	1.54	- -
Price/Tangible Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.41	- -	2	- -
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.47	- -	1.18	- -
Price/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.52	- -	2.34	- -
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.92	- -	2.21	- -
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.66	- -	2.88	- -
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.55	- -	1.7	- -
Price/Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	4.7	- -	9.53	- -
Price/Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2.86	- -	9.03	- -
Price/Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	5.13	- -	11.74	- -
Price/Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.71	- -	6.94	- -
Price/Free Cash Flow Average	3.44	-9.57	1.33	1.21	0.92	2.52	4.46	7.53	2.76	3.59	1.48	2.8	5.85	7.97	- -
Price/Free Cash Flow High	4.82	-12.92	1.7	1.37	1.13	2.95	4.85	8.61	2.92	4.98	2.03	5.03	7.65	10.37	- -
Price/Free Cash Flow Low	1.18	-5.4	0.94	0.77	0.74	1.7	3.31	6.31	2.34	2.92	1.25	1.68	4.23	6.13	- -
EV/Sales Average	0.66	0.19	- -	- -	- -	- -	- -	0.2	- -	- -	- -	- -	- -	- -	- -
EV/Sales High	0.66	0.35	- -	- -	- -	- -	- -	0.37	- -	- -	- -	- -	- -	- -	- -
EV/Sales Low	0.66	- -	- -	- -	- -	- -	- -	0.01	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Average	6.11	-2.29	-7.84	-12.56	-14.31	-5.51	-10.58	-4.47	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA High	6.11	-2.29	-7.84	-12.56	-14.31	-5.51	-10.58	-4.47	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Low	6.11	-2.29	-7.84	-12.56	-14.31	-5.51	-10.58	-4.47	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	11.73	-6.18	43.06	- -	212.89	-14.53	-18.88	-7.63	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	11.73	-6.18	43.06	- -	212.89	-14.53	-18.88	-7.63	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	11.73	-6.18	43.06	- -	212.89	-14.53	-18.88	-7.63	- -	- -	- -	- -	- -	- -	- -
Last Price	2.61	3.01	4.06	3.51	4.5	6.15	8.85	7.99	11.3	10.05	10.22	27.5	39	51.15	44.89
High Price	10.25	6	5	4.6	5	6.6	9	10.25	11.75	14.09	15.95	30.01	49	63	56.5
Enterprise Value Average	12	-5	-12	-21	-28	-17	-37	-16	-67	-125	-254	-150	-124	-41	-122
Enterprise Value High	12	-5	-12	-21	-28	-17	-37	-16	-67	-125	-254	-124	-124	-13	-122
Enterprise Value Low	12	-5	-12	-21	-28	-17	-37	-16	-67	-125	-254	-164	-124	-63	-122

Shares Outstanding	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2
Diluted Weighted Avg Shares	2	2	2	2	2	2	2	2	2	2	2	2	2	2	- -
Basic Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2	- -	2	- -
Revenue per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	18.09	- -	21.89	- -
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3.74	- -	5.21	- -
Basic EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3.74	- -	5.21	- -
Diluted EPS, GAAP	0.49	0.34	0.15	0.01	0.25	0.51	0.72	0.71	2.76	2.87	3.19	3.6	5.67	5.03	- -
Diluted EPS from Cont Ops	0.49	0.49	0.3	0.13	0.36	0.62	0.83	0.82	2.76	2.87	3.19	3.6	5.67	5.03	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.38	- -	0.42	- -
Cash Flow per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	5.85	- -	5.37	- -
Free Cash Flow per Basic Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	5.51	- -	4.44	- -
Cash & Equivalents per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	107.34	- -	82.14	- -
Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	40.43	- -	49.79	- -
Tangible Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	21.35	- -	31.44	- -

Citizens Bancshares Corporation

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