Enterprise Bancorp, Inc. Financial Ratios — EBTC Stock

Profitability (USD)

	2010 Y	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
Return on Common Equity (%)	15.51	14.48	14.88	14.74	14.48	14.48	15.17	14.19	18.72	19.15	15.46	18.46	16.54	13.21	12.3
Return on Assets (%)	0.79	0.76	0.78	0.77	0.76	0.75	0.78	0.73	1	1.1	0.87	1	0.96	0.85	0.83
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 (%)	5.93	5.91	6.09	6.34	6.37	6.01	6.01	6.21	5.66	4.65	4.6	4.89	4.13	3.63	3.29
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	23.99	23.05	25.42	25.91	25.96	26.02	27.57	31.47	31.2	33.73	28.25	34.92	32.98	30.02	30.24
Profit Margin (%)	16.25	15.67	16.8	17.12	17.1	17.31	18.52	17.13	23.9	25.87	21.34	26.41	25.09	22.3	22.68
Net Income to Common Margin (%)	16.25	15.67	16.8	17.12	17.1	17.31	18.52	17.13	23.9	25.87	21.34	26.41	25.09	22.3	22.68
Effective Tax Rate (%)	32.29	32.05	33.9	33.94	34.11	33.44	32.82	45.56	23.39	23.29	24.44	24.37	23.92	25.73	24.97
Dvd Payout Ratio (%)	34.61	36.05	34.06	33.52	33.12	31.94	30.31	24.48	18.85	18.63	22.59	18.09	19.95	25.58	26.53
Sustainable Growth Rate (%)	10.14	9.26	9.81	9.8	9.69	9.85	10.57	10.72	15.2	15.58	11.96	15.12	13.24	9.83	9.04

Credit (USD)

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	2010 Y	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
Total Debt	26	20	37	47	70	68	26	104	115	129	96	88	87	90	237
ST Debt	16	4	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	11	15	37	47	70	68	26	104	115	129	96	88	87	90	237
Total Debt/EBITDA	6.79	4.8	8.33	9.44	12.77	12.22	4.19	14.78	16.87	21.03	14.16	11.28	12.34	14.5	42.21
Net Debt/EBITDA	-1.07	-4.17	-2.87	-0.83	5.42	3.03	-4.11	6.98	7.64	7.69	-25.83	-47.65	-29.16	1.4	23.01
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	5.16	5.31	5.24	5.2	5.24	5.12	5.15	5.08	5.58	5.93	5.36	5.44	6.19	6.75	6.8
Long-Term Debt/Equity (%)	9.28	12.02	26.78	31.29	41.76	37.98	11.87	44.8	45.18	43.54	28.72	25.39	30.76	27.26	65.64
Long-Term Debt/Capital (%)	10.99	15.49	29.98	32.98	39.67	36.92	16.39	42.04	41.1	40.22	30.87	26.7	24.02	22.93	41.9
Long-Term Debt/Total Assets (%)	0.77	1.03	2.24	2.56	3.45	3	1.01	3.69	3.89	3.99	2.39	1.98	1.96	2.01	4.91
Total Debt/Equity (%)	22.6	15.55	26.78	31.29	41.76	37.98	11.87	44.8	45.18	43.54	28.72	25.39	30.76	27.26	65.64
Total Debt/Capital (%)	26.78	20.03	29.98	32.98	39.67	36.92	16.39	42.04	41.1	40.22	30.87	26.7	24.02	22.93	41.9
Total Debt/Total Assets (%)	1.89	1.33	2.24	2.56	3.45	3	1.01	3.69	3.89	3.99	2.39	1.98	1.96	2.01	4.91
Net Debt to Equity	-3.58	-13.5	-9.22	-2.75	17.72	9.43	-11.63	21.16	20.46	15.93	-52.41	-107.27	-72.69	2.64	35.79
Net Debt/Capital (%)	-6.15	-27.8	-17.29	-4.51	21.81	12.68	-23.75	25.51	24.01	18.36	-305.49	349.05	-218.51	2.59	26.82
EBITDA	4	4	4	5	5	6	6	7	7	6	7	8	7	6	6
EBITDA-CapEx	-2	-1	4	5	5	6	6	7	2	-6	- -	4	2	- -	3
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2010 Y	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
Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	5.16	5.31	5.24	5.2	5.24	5.12	5.15	5.08	5.58	5.93	5.36	5.44	6.19	6.75	6.8
Long-Term Debt/Equity (%)	9.28	12.02	26.78	31.29	41.76	37.98	11.87	44.8	45.18	43.54	28.72	25.39	30.76	27.26	65.64
Long-Term Debt/Capital (%)	10.99	15.49	29.98	32.98	39.67	36.92	16.39	42.04	41.1	40.22	30.87	26.7	24.02	22.93	41.9
Long-Term Debt/Total Assets (%)	0.77	1.03	2.24	2.56	3.45	3	1.01	3.69	3.89	3.99	2.39	1.98	1.96	2.01	4.91
Total Debt/Equity (%)	22.6	15.55	26.78	31.29	41.76	37.98	11.87	44.8	45.18	43.54	28.72	25.39	30.76	27.26	65.64
Total Debt/Capital (%)	26.78	20.03	29.98	32.98	39.67	36.92	16.39	42.04	41.1	40.22	30.87	26.7	24.02	22.93	41.9
Total Debt/Total Assets (%)	1.89	1.33	2.24	2.56	3.45	3	1.01	3.69	3.89	3.99	2.39	1.98	1.96	2.01	4.91
CFO/Total Liabilities	0.94	1.5	0.91	2.11	0.71	1.22	1.18	1.47	1.54	1.48	1.1	1.52	1.15	1.38	1.04
CFO/CapEx	2.22	3.76	- -	- -	- -	- -	- -	- -	7.89	3.49	6.04	14.86	9.92	9.5	18.86
Altman's Z-Score	0.16	0.17	0.17	0.18	0.19	0.17	0.2	0.19	0.19	0.19	0.16	0.18	0.18	0.19	0.2

Working Capital (USD)

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	2010 Y	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
Accounts Receivable Turnover	12.02	12.31	12.64	13.16	13.26	12.84	12.21	11.67	10.95	11.13	10.39	10.85	11.18	9.39	8.58
Days Sales Outstanding	30.38	29.66	28.87	27.74	27.52	28.42	29.89	31.29	33.34	32.8	35.14	33.64	32.66	38.86	42.53
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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	2010 Y	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
Market Capitalization	96	105	128	173	216	204	339	330	320	347	272	494	400	381	490
- Cash & Cash Equivalents	31	37	50	52	40	51	50	55	63	64	254	437	268	57	84
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	26	20	37	47	70	68	26	104	115	129	96	88	87	90	237
Enterprise Value	67	88	115	168	246	221	314	379	372	413	114	145	220	-247	629
Total Capital	98	99	125	144	176	186	156	247	281	321	311	330	361	391	565
Total Debt/Capital (%)	26.78	20.03	29.98	32.98	39.67	36.92	16.39	42.04	41.1	40.22	30.87	26.7	24.02	22.93	41.9
Total Debt / EV	0.39	0.22	0.33	0.28	0.28	0.31	0.08	0.27	0.31	0.31	0.84	0.61	0.4	-0.36	0.38
EV/Sales	1.02	1.26	1.56	2.13	2.87	2.37	3.1	3.34	3.08	3.12	0.78	0.91	1.29	2.54	3.68
EV/EBITDA	17.21	21.39	25.58	33.59	45.06	39.52	51.67	53.87	54.4	67.17	16.88	18.59	31.21	70.2	112.13
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	5.54	4.31	8.22	4.71	18.72	8.61	11.5	9.98	8.9	9.46	2.84	2.33	4.57	7.6	13.52
EV/Free Cash Flow to Firm	3.82	3.41	8.22	4.71	18.72	8.61	11.5	9.98	7.9	7.35	2.44	2.19	4.16	6.88	12.84
Diluted Market Cap	96	106	129	174	218	206	341	332	322	348	273	496	402	382	490
Diluted Enterprise Value	91	89	116	170	248	223	316	381	374	414	115	147	221	415	643
EV per Share	6.75	8.73	11.13	15.89	22.61	19.95	28.65	32.73	31.84	34.99	9.62	12.09	18.14	35.54	50.78
TTM Sales	65	70	74	79	86	93	101	113	121	132	147	160	170	171	171
TTM EBITDA	4	4	4	5	5	6	6	7	7	6	7	8	7	6	6
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	12	20	14	36	13	26	27	38	42	44	40	62	48	57	47
TTM Free Cash Flow to Firm	18	26	14	36	13	26	27	38	47	56	47	66	53	63	49

Multiples (USD)

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	2010 Y	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
Price/Free Cash Flow	5.46	4.09	9.21	4.87	16.61	8	12.5	8.75	6.83	6.21	5.8	7.46	7.61	6.04	10
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	67	88	115	168	246	221	314	379	372	413	114	145	220	-247	629
Low Price	10	11.6	14.01	15.6	18	19.87	20.01	29.02	26.96	26.85	19.27	25.25	28.57	25	22.6
EV/Sales	1.02	1.26	1.56	2.13	2.87	2.37	3.1	3.34	3.08	3.12	0.78	0.91	1.29	2.54	3.68
EV/EBITDA	17.21	21.39	25.58	33.59	45.06	39.52	51.67	53.87	54.4	67.17	16.88	18.59	31.21	70.2	112.13
Price/Earnings	8.98	9.63	10.31	12.76	14.77	12.66	18.09	17	11.07	10.15	8.65	11.71	9.37	10.02	12.64
Price/Earnings Average	7.39	9.99	10.03	10.81	11.82	12.1	12.2	16.96	11.96	9	8.25	8.83	9.18	9.23	9.22
Price/Earnings High	12.85	18.31	15.15	17.7	19.39	17.56	22.79	23.41	17.85	12.41	12.82	13.23	12.82	11.78	14.1
Price/Earnings Low	9.31	10.71	11.67	12.23	13.37	13.66	11.7	17.31	10.9	9.26	7.29	7.19	8.09	8.03	7.23
Price/Book Value	1.32	1.33	1.46	1.79	2.04	1.75	2.61	2.3	1.93	1.81	1.27	2.04	1.46	1.26	1.49
Price/Book Value Average	1.09	1.38	1.42	1.52	1.63	1.67	1.76	2.3	2.09	1.6	1.21	1.54	1.43	1.17	1.09
Price/Book Value High	1.9	2.53	2.15	2.49	2.68	2.42	3.28	3.17	3.12	2.21	1.88	2.31	1.99	1.49	1.66
Price/Book Value Low	1.37	1.48	1.65	1.72	1.85	1.88	1.69	2.34	1.9	1.65	1.07	1.25	1.26	1.01	0.85
Price/Tangible Book Value	0.86	0.87	0.95	1.18	1.34	1.17	1.62	1.46	1.28	1.19	0.83	1.45	1.45	1.18	1.38
Price/Tangible Book Value Average	0.71	0.9	0.93	1	1.07	1.12	1.09	1.45	1.38	1.06	0.79	1.09	1.42	1.09	1.01
Price/Tangible Book Value High	1.23	1.65	1.4	1.64	1.76	1.62	2.04	2.01	2.07	1.46	1.23	1.64	1.98	1.39	1.54
Price/Tangible Book Value Low	0.89	0.96	1.08	1.14	1.21	1.26	1.05	1.48	1.26	1.09	0.7	0.89	1.25	0.94	0.79
Price/Sales	1.46	1.51	1.73	2.18	2.53	2.19	3.35	2.91	2.65	2.63	1.85	3.09	2.35	2.23	2.87
Price/Sales Average	1.2	1.56	1.69	1.85	2.02	2.09	2.26	2.91	2.86	2.33	1.76	2.33	2.3	2.06	2.09
Price/Sales High	2.09	2.87	2.55	3.03	3.32	3.04	4.22	4.01	4.27	3.21	2.74	3.5	3.22	2.63	3.2
Price/Sales Low	1.51	1.68	1.96	2.09	2.29	2.36	2.17	2.97	2.61	2.39	1.56	1.9	2.03	1.79	1.64
Price/Cash Flow	7.91	5.15	9.14	4.82	16.47	7.95	12.41	8.69	7.65	7.96	6.75	7.93	8.34	6.67	10.53
Price/Cash Flow Average	6.51	5.34	8.9	4.09	13.18	7.6	8.37	8.67	8.27	7.06	6.44	5.99	8.17	6.15	7.68
Price/Cash Flow High	11.32	9.8	13.43	6.69	21.62	11.02	15.64	11.97	12.33	9.73	10	8.97	11.41	7.84	11.73
Price/Cash Flow Low	8.21	5.73	10.35	4.62	14.9	8.57	8.03	8.85	7.53	7.26	5.68	4.87	7.2	5.35	6.02
Price/Free Cash Flow Average	4.49	4.24	8.97	4.13	13.3	7.64	8.43	8.74	7.38	5.51	5.53	5.63	7.45	5.57	7.3
Price/Free Cash Flow High	7.82	7.78	13.54	6.75	21.82	11.09	15.74	12.06	11.01	7.59	8.6	8.43	10.4	7.11	11.15
Price/Free Cash Flow Low	5.66	4.55	10.43	4.66	15.04	8.63	8.08	8.91	6.73	5.66	4.89	4.58	6.57	4.85	5.72
EV/Sales Average	1.14	1.32	1.51	1.8	2.37	2.28	2.01	3.34	3.29	2.82	0.69	0.15	1.24	2.25	2.99
EV/Sales High	2.02	2.62	2.37	2.98	3.66	3.22	3.97	4.44	4.7	3.71	1.67	1.31	2.15	2.82	4.09
EV/Sales Low	1.45	1.43	1.79	2.04	2.63	2.55	1.92	3.4	3.04	2.89	0.49	- -	0.97	1.98	2.54
EV/EBITDA Average	19.16	22.33	24.82	28.35	37.15	37.9	33.5	53.79	58.18	60.77	15.02	3.07	30.03	62.12	90.93
EV/EBITDA High	34.12	44.42	38.93	46.93	57.48	53.64	66.15	71.59	83.06	79.74	36.2	26.83	52.13	77.79	124.59
EV/EBITDA Low	24.43	24.25	29.33	32.15	41.3	42.39	31.98	54.75	53.7	62.18	10.55	-5.81	23.45	54.74	77.17
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	9.64	10.43	12.38	16.28	19.89	18.42	30.93	28.49	27.37	29.45	22.88	41.12	33.08	31.19	39.54
High Price	13.8	19.83	18.19	22.59	26.12	25.55	38.96	39.25	44.14	36	33.9	46.48	45.24	36.67	44.08
Enterprise Value Average	74	92	111	142	203	212	204	378	398	373	102	24	211	384	510
Enterprise Value High	133	183	175	235	314	301	402	503	568	490	246	210	367	481	699
Enterprise Value Low	95	100	132	161	225	238	194	385	367	382	72	-45	165	339	433

	2010 Y	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
Shares Outstanding	10	10	10	11	11	11	11	12	12	12	12	12	12	12	12
Diluted Weighted Avg Shares	10	10	10	11	11	11	11	12	12	12	12	12	12	12	12
Basic Weighted Avg Shares	10	10	10	11	11	11	11	12	12	12	12	12	12	12	12
Revenue per Share	6.61	6.91	7.15	7.45	7.87	8.4	9.23	9.78	10.35	11.21	12.39	13.3	14.07	13.96	13.78
EBITDA per Share	0.39	0.41	0.44	0.47	0.5	0.5	0.55	0.61	0.59	0.52	0.57	0.65	0.58	0.51	0.45
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	1.07	1.08	1.2	1.28	1.35	1.46	1.71	1.68	2.47	2.9	2.64	3.51	3.53	3.11	3.13
Basic EPS from Cont Ops	1.07	1.08	1.2	1.28	1.35	1.46	1.71	1.68	2.47	2.9	2.64	3.51	3.53	3.11	3.13
Diluted EPS, GAAP	1.07	1.08	1.19	1.26	1.33	1.45	1.7	1.66	2.46	2.89	2.64	3.5	3.52	3.11	3.12
Diluted EPS from Cont Ops	1.07	1.08	1.19	1.26	1.33	1.45	1.7	1.66	2.46	2.89	2.64	3.5	3.52	3.11	3.12
Dividend per Share	0.37	0.39	0.41	0.43	0.45	0.46	0.52	0.41	0.47	0.54	0.6	0.64	0.7	0.8	0.83
Cash Flow per Share	1.22	2.02	1.35	3.37	1.21	2.32	2.49	3.28	3.58	3.7	3.39	5.18	3.97	4.68	3.76
Free Cash Flow per Basic Share	0.67	1.49	1.35	3.37	1.21	2.32	2.49	3.28	3.13	2.64	2.83	4.83	3.57	4.18	3.56
Cash & Equivalents per Share	5.55	3.66	4.87	4.86	3.69	4.64	4.6	4.74	5.4	5.41	21.33	36.36	22.11	58.71	7.87
Book Value per Share	7.28	7.83	8.47	9.08	9.75	10.55	11.87	12.38	14.15	16.28	18.08	20.15	22.7	24.67	26.51
Tangible Book Value per Share	11.2	12.05	12.99	13.74	14.83	15.74	19.07	19.55	21.37	24.68	27.63	28.42	22.85	26.46	28.67

Enterprise Bancorp, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

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Per Share Data Items (USD)