Delta Apparel, Inc. Financial Ratios — DLA Stock

Profitability (USD)

	2010 Y	2011 Y	2012 Y	2013 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Return on Common Equity (%)	17.42	20.45	-2.66	9.61	- -	-0.96	7.8	7.98	8.61	1.04	6.2	-8.02	14.84	12.59	-22.13
Return on Assets (%)	4.79	6.15	-0.77	2.9	- -	-0.27	2.38	2.68	3.17	0.4	2.28	-2.65	4.75	4.12	-6.79
Return on Capital (%)	9.85	11.92	- -	6.38	- -	- -	5.88	5.99	6.68	0.88	6.14	- -	7.99	7.32	- -
Return on Invested Capital (%)	7.41	9.33	- -	5.21	- -	- -	2.61	5.67	5.85	0.71	5.43	- -	7.46	6.93	- -
Gross Margin (%)	23.75	24.46	17.09	22.32	- -	18.93	19.66	21.99	20.96	20.74	19.72	17.94	23.33	22.45	13
EBITDA Margin (%)	6.35	6.98	0.26	4.47	- -	1.73	4	6.51	6.7	6.93	6.41	1.49	10.64	9.65	-1.23
Operating Margin (%)	4.75	5.45	-1.27	2.83	- -	-0.37	1.87	4.25	4.2	4.4	3.68	-1.86	7.49	6.55	-4.87
Incremental Operating Margin (%)	11.58	11.31	- -	3,354.17	2.83	- -	-268.05	-40.42	4.72	11.81	-4.16	- -	71.41	-1.93	- -
Pretax Margin (%)	3.92	4.77	-2.11	2.02	- -	-1.65	2.25	2.6	2.9	2.96	1.93	-3.7	5.92	4.96	-10.51
Profit Margin (%)	2.87	3.65	-0.5	1.87	- -	-0.21	1.8	2.11	2.73	0.34	1.91	-2.78	4.65	4.07	-8
Net Income to Common Margin (%)	2.87	3.65	-0.5	1.87	- -	-0.21	1.8	2.11	2.73	0.34	1.91	-2.78	4.65	4.07	-8
Effective Tax Rate (%)	26.82	23.6	- -	7.29	- -	- -	19.86	18.84	5.88	89.48	5.72	- -	22.06	17.91	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	17.42	20.45	-2.66	9.61	- -	-0.96	7.8	7.98	8.61	1.04	6.2	-8.02	14.84	12.59	-22.13

Credit (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Debt	68	87	114	98	135	130	102	116	96	112	135	194	178	222	222
ST Debt	6	3	4	4	4	16	8	9	8	10	13	24	22	26	34
LT Debt	62	84	111	95	131	114	94	107	88	101	122	171	156	196	188
Total Debt/EBITDA	2.53	2.62	90.14	4.48	- -	16.6	5.69	4.18	3.73	4.08	4.88	34.19	3.83	4.75	-43.54
Net Debt/EBITDA	2.5	2.6	89.77	4.46	- -	16.52	5.68	4.17	3.58	3.58	4.17	18.29	2.14	3.11	-28.03
Total Debt/EBIT	3.38	3.35	-18.4	7.07	- -	-78.25	12.15	6.41	5.95	6.42	8.5	-27.45	5.44	7	-10.96
Net Debt/EBIT	3.34	3.32	-18.32	7.03	- -	-77.88	12.11	6.39	5.7	5.64	7.25	-14.68	3.04	4.58	-7.06
EBITDA to Interest Expense	7.68	12.68	0.31	5.48	- -	1.35	2.98	5.24	5.15	4.79	3.66	0.81	6.79	6.05	-0.36
EBITDA-CapEx/Interest Expense	5.7	9.63	-1.3	3.5	- -	-0.18	1.69	2.91	3.73	3.78	2.86	-0.47	5.01	4.44	-0.56
EBIT to Interest Expense	5.75	9.9	-1.51	3.48	- -	-0.29	1.4	3.42	3.23	3.05	2.11	-1.01	4.78	4.11	-1.43
Interest Expense	4	3	4	4	- -	6	6	5	5	6	8	7	7	8	14
Common Equity/Total Assets	30.26	29.94	28.38	32.1	28.62	28.12	33.18	33.88	40.1	37.48	36.25	30.14	33.84	31.83	29.32
Long-Term Debt/Equity (%)	49.6	59.15	79.84	67.18	94.35	82.82	64.96	70.13	56.34	67.54	79.36	119.62	94.95	107.4	125
Long-Term Debt/Capital (%)	43.27	46.61	54.02	47.76	55.66	49.84	44.7	45.84	39.26	42.12	44.92	53.28	48.06	50.51	52.94
Long-Term Debt/Total Assets (%)	24.81	26.93	34.63	30.38	37.25	32.28	28.89	30.93	27.64	29.51	32.31	40.62	35.9	37.47	41.24
Total Debt/Equity (%)	54.15	61.12	82.38	69.68	97.02	94.04	70.74	76.17	61.72	74.48	87.8	136.13	108.46	121.75	147.73
Total Debt/Capital (%)	47.23	48.17	55.73	49.54	57.23	56.59	48.67	49.79	43.02	46.45	49.7	60.63	54.9	57.26	62.56
Total Debt/Total Assets (%)	27.08	27.82	35.73	31.51	38.3	36.66	31.46	33.6	30.28	32.54	35.74	46.22	41.01	42.48	48.74
Net Debt to Equity	53.6	60.66	82.04	69.25	96.42	93.6	70.53	75.91	59.2	65.42	74.88	72.81	60.52	79.7	95.11
Net Debt/Capital (%)	46.98	47.98	55.63	49.39	57.08	56.47	48.59	49.7	41.36	40.88	42.48	34.18	31.54	37.51	40.3
EBITDA	27	33	1	22	- -	8	18	28	26	27	28	6	46	47	-5
EBITDA-CapEx	20	25	-5	14	- -	-1	10	15	19	22	22	-3	34	34	-8
Operating Income (Loss)	20	26	-6	14	- -	-2	8	18	16	17	16	-7	33	32	-20

Liquidity (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Cash Ratio	0.01	0.01	0.01	0.01	0.01	0.01	- -	- -	0.01	0.01	0.01	0.17	0.09	- -	- -
Current Ratio	3.09	2.93	3.81	3.39	3.32	2.67	2.59	2.83	3.14	2.97	2.74	2.36	2.3	2.35	2.28
Quick Ratio	1.03	0.93	1.25	1.07	0.96	0.76	0.76	0.78	0.7	0.63	0.69	0.81	0.73	0.52	0.42
CFO/Avg Current Liab	0.55	0.04	-0.26	0.46	- -	0.17	0.25	0.03	0.18	0.29	0.11	0.34	0.25	-0.17	0.09
Common Equity/Total Assets	30.26	29.94	28.38	32.1	28.62	28.12	33.18	33.88	40.1	37.48	36.25	30.14	33.84	31.83	29.32
Long-Term Debt/Equity (%)	49.6	59.15	79.84	67.18	94.35	82.82	64.96	70.13	56.34	67.54	79.36	119.62	94.95	107.4	125
Long-Term Debt/Capital (%)	43.27	46.61	54.02	47.76	55.66	49.84	44.7	45.84	39.26	42.12	44.92	53.28	48.06	50.51	52.94
Long-Term Debt/Total Assets (%)	24.81	26.93	34.63	30.38	37.25	32.28	28.89	30.93	27.64	29.51	32.31	40.62	35.9	37.47	41.24
Total Debt/Equity (%)	54.15	61.12	82.38	69.68	97.02	94.04	70.74	76.17	61.72	74.48	87.8	136.13	108.46	121.75	147.73
Total Debt/Capital (%)	47.23	48.17	55.73	49.54	57.23	56.59	48.67	49.79	43.02	46.45	49.7	60.63	54.9	57.26	62.56
Total Debt/Total Assets (%)	27.08	27.82	35.73	31.51	38.3	36.66	31.46	33.6	30.28	32.54	35.74	46.22	41.01	42.48	48.74
CFO/Total Liabilities	25.69	1.7	-10.53	18.83	- -	6.46	12.37	1.14	8.61	10.98	4.21	11.46	9.43	-5.9	3.68
CFO/CapEx	4.64	0.36	-2.88	4.06	- -	1.57	2.87	0.18	1.97	3.68	1.56	3.54	2.1	-1.61	3.98
Altman's Z-Score	3.9	3.58	3.15	3.47	1.57	2.83	3.41	3.28	3.45	3.2	3.15	2.12	2.9	2.44	1.85

Working Capital (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Accounts Receivable Turnover	7.33	6.98	6.55	6.64	- -	6.62	6.9	6.81	6.98	8.51	8.23	6.38	6.87	7.17	7.33
Days Sales Outstanding	49.78	52.28	55.71	54.98	- -	55.16	52.86	53.62	52.28	42.88	44.36	57.23	53.12	50.88	49.8
Inventory Turnover	2.67	2.6	2.53	2.37	- -	2.24	2.32	2.12	1.8	1.79	1.96	1.93	2.18	1.83	1.57
Days Inventory Outstanding	136.74	140.21	144.15	153.82	- -	162.73	157.08	171.98	203.15	203.52	186.46	189.48	167.43	199.11	232.79
Accounts Payable Turnover	9.22	8.96	8.02	7.83	0.11	6.59	6.25	6.64	6.44	6.65	6.99	5.47	6.83	6.78	4.47
Accounts Payable Turnover Days	39.57	40.72	45.5	46.62	3,322.97	55.43	58.41	54.99	56.68	54.86	52.21	66.78	53.41	53.82	81.74
Cash Conversion Cycle	146.96	151.77	154.36	162.18	- -	162.46	151.53	170.6	198.75	191.54	178.61	179.93	167.14	196.18	200.85
Inventory to Cash Days	-86.96	-87.93	-88.44	-98.85	- -	-107.57	-104.21	-118.36	-150.87	-160.65	-142.09	-132.25	-114.31	-148.23	-182.98
Inventories	117	159	162	160	165	162	148	164	175	175	179	146	162	249	212
Raw Materials	11	21	12	12	12	10	11	11	9	10	12	14	17	23	20
Work In Process	21	35	19	16	15	16	19	18	19	18	18	14	21	24	18
Finished Goods	85	104	131	131	138	137	118	135	147	147	149	118	124	202	174
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Market Capitalization	124	144	115	116	134	72	139	127	162	127	165	99	190	97	46
- Cash & Cash Equivalents	1	1	- -	1	1	1	- -	- -	1	- -	1	16	9	- -	- -
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-1	-1	-1	-1
+ Total Debt	68	87	114	98	135	130	102	116	96	112	135	194	178	222	222
Enterprise Value	192	230	229	214	268	201	241	243	258	239	299	276	358	319	267
Total Capital	144	180	205	198	235	230	210	233	224	241	272	320	324	389	355
Total Debt/Capital (%)	47.23	48.17	55.73	49.54	57.23	56.59	48.67	49.79	43.02	46.45	49.7	60.63	54.9	57.26	62.56
Total Debt / EV	0.36	0.38	0.5	0.46	0.5	0.65	0.42	0.48	0.37	0.47	0.45	0.7	0.5	0.7	0.83
EV/Sales	0.45	0.48	0.47	0.44	- -	0.44	0.54	0.57	0.67	0.6	0.69	0.72	0.82	0.66	0.64
EV/EBITDA	7.11	6.95	180.69	9.75	- -	25.69	13.41	8.76	9.99	8.71	10.8	48.56	7.71	6.81	- -
EV/EBIT	9.51	8.89	- -	15.38	- -	- -	28.61	13.42	15.92	13.71	18.8	- -	10.95	10.03	- -
EV/Cash Flow to Firm	5.5	47.13	- -	5.96	- -	13.67	8.87	37.37	13.81	10.93	18.06	7.42	11.63	- -	12.13
EV/Free Cash Flow to Firm	4.59	17.92	- -	4.88	- -	8.52	6.9	12.9	10.01	8.64	13.21	5.98	8.34	- -	10.75
Diluted Market Cap	128	149	115	120	138	72	142	131	170	132	168	99	194	99	46
Diluted Enterprise Value	195	235	229	217	272	201	244	247	265	244	302	276	362	320	267
EV per Share	22.51	27.15	27.15	25.96	33.1	25.46	30.57	31.4	34.21	33.38	43.12	39.86	51.45	45.85	38.25
TTM Sales	424	475	490	491	- -	453	449	425	385	395	432	381	437	485	415
TTM EBITDA	27	33	1	22	- -	8	18	28	26	27	28	6	46	47	-5
TTM Operating Income	20	26	-6	14	- -	-2	8	18	16	17	16	-7	33	32	-20
TTM Cash Flow to Firm	35	5	-18	36	- -	15	27	6	19	22	17	37	31	-14	22
TTM Free Cash Flow to Firm	42	13	-11	44	- -	24	35	19	26	28	23	46	43	-1	25

Multiples (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Price/Free Cash Flow	3.25	13.7	-9.26	2.98	- -	3.14	4.74	9.05	8.06	4.89	10.83	2.42	5.15	-12.96	3.3
EV/EBIT	9.51	8.89	- -	15.38	- -	- -	28.61	13.42	15.92	13.71	18.8	- -	10.95	10.03	- -
Enterprise Value	192	230	229	214	268	201	241	243	258	239	299	276	358	319	267
Low Price	6.59	12	13.22	12.65	12.8	8.21	8.35	11.61	14.85	16.3	16.11	7.53	14	13.78	6.45
EV/Sales	0.45	0.48	0.47	0.44	- -	0.44	0.54	0.57	0.67	0.6	0.69	0.72	0.82	0.66	0.64
EV/EBITDA	7.11	6.95	180.69	9.75	- -	25.69	13.41	8.76	9.99	8.71	10.8	48.56	7.71	6.81	- -
Price/Earnings	10.2	8.33	- -	12.64	- -	- -	17.15	14.19	15.41	95.12	19.97	- -	9.37	4.93	- -
Price/Earnings Average	8.33	6.98	-56.84	13.2	- -	-123.9	11.79	15.6	13.7	102.58	18.01	-12.01	8.97	9.47	-2.33
Price/Earnings High	12.23	9.17	-68.64	15.99	- -	-158.27	18.91	21.99	16.82	118.17	21.01	-20.75	12.09	11.88	-3.66
Price/Earnings Low	4.6	5.88	-45.67	11.34	- -	-67.57	8.12	10.01	10.64	87.16	13.54	-4.93	4.8	4.85	-1.36
Price/Book Value	1.63	1.55	1.27	1.16	1.33	0.72	1.29	1.09	1.27	0.99	1.2	0.78	1.29	0.58	0.35
Price/Book Value Average	1.34	1.29	1.53	1.21	1.23	1.19	0.88	1.2	1.13	1.06	1.08	1	1.24	1.12	0.58
Price/Book Value High	1.96	1.7	1.85	1.47	1.45	1.52	1.42	1.69	1.39	1.23	1.26	1.73	1.67	1.41	0.91
Price/Book Value Low	0.74	1.09	1.23	1.04	1.03	0.65	0.61	0.77	0.88	0.9	0.81	0.41	0.66	0.57	0.34
Price/Tangible Book Value	1.24	1.23	1	0.98	1.73	0.92	1.62	1.35	1.35	1.32	1.74	1.16	1.9	0.81	0.46
Price/Tangible Book Value Average	1.01	1.03	1.21	1.03	1.6	1.53	1.11	1.48	1.2	1.42	1.57	1.5	1.82	1.55	0.78
Price/Tangible Book Value High	1.49	1.35	1.46	1.24	1.88	1.95	1.79	2.09	1.48	1.64	1.83	2.59	2.45	1.94	1.22
Price/Tangible Book Value Low	0.56	0.86	0.97	0.88	1.34	0.83	0.77	0.95	0.93	1.21	1.18	0.61	0.97	0.79	0.45
Price/Sales	0.29	0.3	0.24	0.24	- -	0.16	0.31	0.3	0.42	0.32	0.38	0.26	0.44	0.2	0.11
Price/Sales Average	0.24	0.25	0.28	0.25	- -	0.26	0.21	0.33	0.37	0.35	0.34	0.33	0.42	0.39	0.19
Price/Sales High	0.35	0.33	0.34	0.3	- -	0.34	0.34	0.46	0.46	0.4	0.4	0.58	0.56	0.48	0.29
Price/Sales Low	0.13	0.21	0.23	0.21	- -	0.14	0.15	0.21	0.29	0.29	0.26	0.14	0.22	0.2	0.11
Price/Cash Flow	3.85	49.92	-6.04	3.61	- -	5.14	6.22	57.8	11.62	5.99	17.45	3.1	7.46	-4.84	4.13
Price/Cash Flow Average	3.15	41.83	-7.28	3.77	- -	8.51	4.28	63.56	10.33	6.46	15.74	3.99	7.15	-9.3	6.91
Price/Cash Flow High	4.62	54.97	-8.79	4.57	- -	10.87	6.86	89.62	12.68	7.44	18.37	6.9	9.64	-11.66	10.84
Price/Cash Flow Low	1.74	35.24	-5.85	3.24	- -	4.64	2.95	40.78	8.02	5.49	11.84	1.64	3.83	-4.76	4.02
Price/Free Cash Flow Average	2.66	11.48	-11.15	3.12	- -	5.2	3.25	9.95	7.17	5.27	9.77	3.11	4.93	-24.92	5.52
Price/Free Cash Flow High	3.9	15.08	-13.46	3.78	- -	6.64	5.22	14.03	8.8	6.08	11.4	5.38	6.65	-31.26	8.66
Price/Free Cash Flow Low	1.47	9.67	-8.96	2.68	- -	2.84	2.24	6.38	5.57	4.48	7.35	1.28	2.64	-12.77	3.21
EV/Sales Average	0.4	0.44	0.52	0.45	- -	0.55	0.44	0.6	0.62	0.63	0.65	0.8	0.8	0.84	0.72
EV/Sales High	0.51	0.52	0.58	0.5	- -	0.62	0.57	0.73	0.71	0.68	0.71	1.04	0.95	0.94	0.82
EV/Sales Low	0.29	0.4	0.46	0.41	- -	0.43	0.37	0.48	0.54	0.58	0.57	0.6	0.61	0.65	0.64
EV/EBITDA Average	6.27	6.24	199.29	9.99	- -	31.7	10.99	9.21	9.29	9.08	10.22	53.56	7.54	8.73	-58.57
EV/EBITDA High	8.03	7.39	222.03	11.16	- -	35.92	14.2	11.28	10.56	9.84	11.11	69.83	8.9	9.74	-67.21
EV/EBITDA Low	4.58	5.67	177.76	9.21	- -	24.8	9.34	7.41	8.05	8.32	8.89	40.38	5.71	6.78	-52.21
EV/EBIT Average	8.38	7.99	-40.68	15.75	- -	-149.49	23.45	14.12	14.82	14.28	17.78	-43.01	10.7	12.85	-14.75
EV/EBIT High	10.74	9.46	-45.32	17.59	- -	-169.35	30.3	17.29	16.84	15.48	19.34	-56.07	12.64	14.35	-16.92
EV/EBIT Low	6.13	7.25	-36.28	14.52	- -	-116.93	19.92	11.35	12.82	13.1	15.47	-32.42	8.12	9.98	-13.14
Last Price	14.6	17	13.66	14.1	16.56	9.09	17.63	16.46	21.51	17.79	23.75	14.25	27.31	13.99	6.63
High Price	17.51	18.72	19.87	17.84	17.97	19.23	19.44	25.52	23.47	22.1	24.99	31.71	35.26	33.74	17.39
Enterprise Value Average	169	207	253	219	257	248	197	255	240	249	283	304	350	408	298
Enterprise Value High	216	245	282	245	279	281	255	313	272	269	307	397	414	456	343
Enterprise Value Low	123	188	226	202	238	194	168	205	207	228	246	229	266	317	266

	2010 Y	2011 Y	2012 Y	2013 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Shares Outstanding	9	8	8	8	8	8	8	8	7	7	7	7	7	7	7
Diluted Weighted Avg Shares	9	9	8	8	8	8	8	8	8	7	7	7	7	7	7
Basic Weighted Avg Shares	9	8	8	8	8	8	8	8	8	7	7	7	7	7	7
Revenue per Share	49.85	56	57.96	59.57	- -	57.32	57.04	55.04	51.13	55.32	62.31	55.05	62.74	69.73	59.43
EBITDA per Share	3.17	3.91	0.15	2.66	- -	0.99	2.28	3.59	3.42	3.83	3.99	0.82	6.68	6.73	-0.73
Operating Income per Share	2.37	3.05	-0.74	1.69	- -	-0.21	1.07	2.34	2.15	2.43	2.29	-1.02	4.7	4.57	-2.9
Basic EPS, GAAP	1.43	2.04	-0.29	1.12	- -	-0.12	1.03	1.16	1.4	0.19	1.19	-1.53	2.92	2.84	-4.75
Basic EPS from Cont Ops	1.43	2.04	-0.29	1.12	- -	-0.12	1.03	1.16	1.4	0.17	1.14	-1.56	2.9	2.84	-4.76
Diluted EPS, GAAP	1.4	1.98	-0.29	1.08	- -	-0.12	1	1.12	1.33	0.18	1.17	-1.53	2.86	2.8	-4.75
Diluted EPS from Cont Ops	1.4	1.98	-0.29	1.08	- -	-0.12	1	1.12	1.33	0.17	1.11	-1.56	2.84	2.8	-4.76
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	3.79	0.34	-2.26	3.91	- -	1.77	2.83	0.28	1.85	2.97	1.36	4.59	3.66	-2.89	1.6
Free Cash Flow per Basic Share	2.97	-0.6	-3.04	2.94	- -	0.64	1.85	-1.31	0.91	2.16	0.49	3.3	1.91	-4.69	1.2
Cash & Equivalents per Share	0.08	0.08	0.06	0.07	0.1	0.08	0.04	0.05	0.08	0.06	0.09	2.38	1.35	0.04	0.03
Book Value per Share	8.93	11	10.76	12.16	12.43	12.62	13.69	15.11	16.92	18.02	19.78	18.3	21.11	23.97	19.1
Tangible Book Value per Share	11.78	13.88	13.65	14.34	9.55	9.87	10.87	12.21	15.91	13.48	13.62	12.26	14.37	17.37	14.28

Delta Apparel, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)