Espey Mfg. & Electronics Corp. Financial Ratios — ESP 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 (%)	16.14	18.35	22.55	4.95	14.2	13.6	4.88	13.34	10.54	5.7	-0.95	6.63	17.25	23.28	27.31
Return on Assets (%)	12.24	13.58	16.28	3.44	9.54	9.23	3.25	8.51	6.46	3.15	-0.48	3.25	8.41	11.18	12
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	13.24	14.77	17.78	3.39	10.35	9.76	3.27	8.91	6.59	3.3	- -	3.89	9.88	13.48	14.69
Gross Margin (%)	27.82	27.53	31.2	16.7	26.62	26.83	20.93	23.56	19.36	17.63	12.11	17.04	22.62	27.5	28.86
EBITDA Margin (%)	19.55	20.03	23.91	6.52	18.17	17.39	8.71	13.17	8.76	5.52	0.34	6.3	13.44	18.05	19.52
Operating Margin (%)	17.97	18.7	22.69	4.85	16.51	15.81	6.78	11.85	7.27	3.72	-1.54	4.76	12.08	16.88	18.49
Incremental Operating Margin (%)	90.66	27.25	79.2	90.28	-1,019.8	-13.53	56.9	23.28	-30.33	29.9	- -	44.74	79.45	71.23	30.44
Pretax Margin (%)	18.24	18.98	22.93	5.4	16.76	16.24	7.33	12.51	7.9	4.15	-1.33	4.96	13.22	18.83	22.14
Profit Margin (%)	13.08	13.7	16.22	4.3	11.86	11.56	5.04	9.46	6.42	3.69	-0.65	3.94	10.33	15.01	18.53
Net Income to Common Margin (%)	13.08	13.7	16.22	4.3	11.86	11.56	5.04	9.46	6.42	3.69	-0.65	3.94	10.33	15.01	18.53
Effective Tax Rate (%)	28.32	27.81	29.29	20.33	29.23	28.83	31.23	24.41	18.7	11.12	- -	20.59	21.87	20.29	16.3
Dvd Payout Ratio (%)	105.78	93.76	78.31	383.69	53.35	89.64	203.17	75.74	202.2	205.23	-661.73	- -	13.31	28.86	31.9
Sustainable Growth Rate (%)	-0.93	1.14	4.89	-14.03	6.62	1.41	-5.04	3.24	-10.77	-6	-7.23	6.63	14.95	16.56	18.6

Credit (USD)

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	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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBITDA	-1.68	-1.8	-1.21	-5.4	-1.82	-2.1	-5.13	-1	-0.46	-3.1	-72.62	-4	-0.57	-0.62	-2.2
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	-1.83	-1.92	-1.27	-7.26	-2	-2.31	-6.59	-1.12	-0.55	-4.61	15.96	-5.3	-0.64	-0.67	-2.32
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	74.65	73.4	71.1	67.77	66.61	69.17	63.9	63.63	58.93	51.84	48.6	49.43	48.23	47.84	41.2
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt to Equity	-33.82	-38.97	-31.05	-32.24	-28.64	-30.97	-31.53	-12.84	-4.58	-17.3	-22.43	-25.25	-7.66	-10.54	-37.1
Net Debt/Capital (%)	-68.79	-91.89	-64.29	-77.07	-63.21	-72.7	-79.69	-22.47	-7.47	-37.5	-58.37	-69.75	-13.63	-19.17	-137.37
EBITDA	6	6	8	2	5	5	2	4	3	2	- -	2	5	7	9
EBITDA-CapEx	5	6	8	1	5	4	2	2	3	2	- -	2	4	2	4
Operating Income (Loss)	5	6	8	1	4	4	2	4	3	1	- -	2	4	7	8

Liquidity (USD)

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	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	3.97	4.91	3.93	5.86	4.08	8.39	5.77	4.76	2.05	1.56	1.32	1.55	1.28	1.52	1.54
Current Ratio	9.91	10.08	9.45	12.04	9.99	17.25	9.84	9.96	9.14	5.15	4.68	4.87	3.89	3.49	2.66
Quick Ratio	6.11	5.98	5.99	7.54	6.18	11.23	6.82	6.13	5.21	2.9	2.07	2.3	1.79	1.96	1.81
CFO/Avg Current Liab	1.78	2.49	1.01	1.8	0.24	2.28	2.45	0.08	-1.06	1.17	0.08	0.29	0.41	0.79	0.96
Common Equity/Total Assets	74.65	73.4	71.1	67.77	66.61	69.17	63.9	63.63	58.93	51.84	48.6	49.43	48.23	47.84	41.2
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Total Liabilities	153.37	229.52	88.84	195.8	19.68	278.96	178.54	7.82	-95.81	85.49	7.78	28.47	33.56	69.39	74.26
CFO/CapEx	8.09	27.56	10.19	7.59	2.53	20.27	18.23	0.14	-5.93	27.84	13.66	7.31	7.62	2.05	4.81
Altman's Z-Score	13.4	14.26	12.84	15.19	13.48	20.47	11.29	14.31	12.37	6.06	5	5.14	4.65	4.59	4.68

Working Capital (USD)

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	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	5.02	6.76	6.58	5.22	5.43	4.72	5.39	8.36	4.75	3.15	3.86	5.79	6.2	6.25	6.18
Days Sales Outstanding	72.77	54.03	55.46	69.93	67.26	77.41	67.72	43.65	76.91	115.83	94.54	63.02	58.91	58.38	59.11
Inventory Turnover	1.98	2.09	2.05	2.06	1.77	1.8	1.74	2.36	2.39	1.85	1.45	1.43	1.43	1.44	1.69
Days Inventory Outstanding	184.45	174.7	178.02	177.49	205.74	202.66	209.21	154.83	152.84	196.88	251.42	255.96	254.78	254.31	216.47
Accounts Payable Turnover	13.68	17.58	18.07	21.84	24.26	25.18	11.95	13.06	15.68	10.96	10.17	11.01	17.54	11.06	9.34
Accounts Payable Turnover Days	26.69	20.76	20.2	16.71	15.04	14.5	30.54	27.96	23.28	33.29	35.88	33.16	20.81	33.01	39.07
Cash Conversion Cycle	230.53	207.97	213.27	230.71	257.96	265.57	246.4	170.53	206.48	279.41	310.08	285.82	292.88	279.67	236.51
Inventory to Cash Days	-111.68	-120.67	-122.57	-107.56	-138.47	-125.25	-141.49	-111.19	-75.93	-81.05	-156.88	-192.93	-195.87	-195.93	-157.36
Inventories	11	12	11	11	12	11	10	11	13	15	19	19	20	19	18
Raw Materials	1	1	2	2	1	1	1	2	2	2	2	2	2	2	2
Work In Process	9	10	10	9	10	9	8	10	11	13	17	17	18	18	16
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	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	53	57	57	56	59	59	52	63	59	41	36	35	41	53	118
- Cash & Cash Equivalents	10	12	10	10	9	10	10	4	1	5	7	8	3	4	19
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	41	43	43	42	46	44	32	47	52	31	26	23	26	30	75
Total Capital	24	24	25	22	23	24	23	23	21	20	18	20	23	27	33
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt / EV	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales	1.41	1.33	1.25	1.55	1.72	1.6	1.44	1.44	1.41	0.98	0.93	0.71	0.74	0.77	1.7
EV/EBITDA	7.19	6.65	5.24	23.7	9.44	9.18	16.5	10.93	16.15	17.75	275.07	11.27	5.52	4.24	8.73
EV/EBIT	7.82	7.12	5.52	31.83	10.39	10.09	21.21	12.14	19.44	26.36	- -	14.92	6.14	4.54	9.21
EV/Cash Flow to Firm	8.44	5.78	13.07	7.78	68.54	7.61	5.04	179.37	- -	5.18	43.31	10.28	6.77	2.8	3.57
EV/Free Cash Flow to Firm	7.51	5.57	11.9	6.88	49.09	7.25	4.78	21.43	- -	5	40.35	9.04	5.99	1.88	2.95
Diluted Market Cap	54	58	58	57	60	60	52	63	59	42	36	35	41	54	123
Diluted Enterprise Value	44	47	48	48	51	50	42	59	58	36	29	27	39	50	104
EV per Share	19.27	19.64	19.46	18.68	20.27	19.18	14	20.05	21.74	12.91	10.71	9.38	10.76	11.92	28.89
TTM Sales	29	32	34	27	27	27	23	33	36	32	28	32	36	39	44
TTM EBITDA	6	6	8	2	5	5	2	4	3	2	- -	2	5	7	9
TTM Operating Income	5	6	8	1	4	4	2	4	3	1	- -	2	4	7	8
TTM Cash Flow to Firm	5	7	3	5	1	6	6	- -	-4	6	1	2	4	11	21
TTM Free Cash Flow to Firm	6	8	4	6	1	6	7	2	-3	6	1	3	4	16	25

Multiples (USD)

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	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	9.73	7.6	15.97	9.42	63.51	9.91	7.7	28.85	-19.74	6.71	55.85	13.72	9.38	3.42	4.86
EV/EBIT	7.82	7.12	5.52	31.83	10.39	10.09	21.21	12.14	19.44	26.36	- -	14.92	6.14	4.54	9.21
Enterprise Value	41	43	43	42	46	44	32	47	52	31	26	23	26	30	75
Low Price	18.13	19.4	22.03	22.44	16.57	21.93	22.05	21.07	23.5	16.62	14.49	12.39	13.02	14.69	20.5
EV/Sales	1.41	1.33	1.25	1.55	1.72	1.6	1.44	1.44	1.41	0.98	0.93	0.71	0.74	0.77	1.7
EV/EBITDA	7.19	6.65	5.24	23.7	9.44	9.18	16.5	10.93	16.15	17.75	275.07	11.27	5.52	4.24	8.73
Price/Earnings	13.76	13.07	10.2	48.29	18.55	18.72	45.66	20.36	25.07	35.62	- -	27.37	11.18	9.1	14.54
Price/Earnings Average	12.94	12.05	10.49	55.46	17.79	18.25	51.01	18.59	26.37	44.32	-234.82	27.03	10.76	8.45	9.13
Price/Earnings High	16.29	13.41	12.3	65.15	22.48	19.99	56.31	22.74	32.97	55.53	-304.86	31.85	15.33	11.69	15.5
Price/Earnings Low	10.11	9.6	8.74	43.14	11.82	15.78	44.9	15.99	23.8	34.18	-192.06	23.82	8.69	6.29	6.52
Price/Book Value	2.23	2.38	2.24	2.57	2.58	2.49	2.29	2.67	2.79	2.09	1.93	1.76	1.79	1.96	3.63
Price/Book Value Average	2.1	2.2	2.31	2.95	2.47	2.43	2.55	2.44	2.94	2.6	2.31	1.73	1.73	1.82	2.28
Price/Book Value High	2.64	2.45	2.71	3.47	3.13	2.66	2.82	2.99	3.67	3.26	3	2.04	2.46	2.51	3.87
Price/Book Value Low	1.64	1.75	1.92	2.29	1.65	2.1	2.25	2.1	2.65	2.01	1.89	1.53	1.4	1.35	1.63
Price/Tangible Book Value	1.85	1.94	1.78	1.9	1.91	1.84	1.63	1.87	1.84	1.33	1.18	1.08	1.15	1.28	2.33
Price/Tangible Book Value Average	1.74	1.79	1.83	2.18	1.83	1.79	1.82	1.71	1.94	1.65	1.41	1.07	1.1	1.19	1.46
Price/Tangible Book Value High	2.19	1.99	2.15	2.57	2.31	1.96	2	2.09	2.42	2.07	1.82	1.26	1.57	1.65	2.48
Price/Tangible Book Value Low	1.36	1.43	1.53	1.7	1.22	1.55	1.6	1.47	1.75	1.27	1.15	0.94	0.89	0.89	1.04
Price/Sales	1.8	1.79	1.65	2.08	2.2	2.16	2.3	1.93	1.61	1.31	1.29	1.08	1.16	1.37	2.69
Price/Sales Average	1.69	1.65	1.7	2.39	2.11	2.11	2.57	1.76	1.69	1.64	1.54	1.06	1.11	1.27	1.69
Price/Sales High	2.13	1.84	1.99	2.8	2.67	2.31	2.84	2.15	2.12	2.05	2	1.26	1.58	1.76	2.87
Price/Sales Low	1.32	1.32	1.42	1.86	1.4	1.82	2.26	1.51	1.53	1.26	1.26	0.94	0.9	0.94	1.21
Price/Cash Flow	10.81	7.77	17.26	10.47	87.92	10.32	8.08	240	-16.29	6.94	59.94	15.6	10.54	4.99	5.64
Price/Cash Flow Average	10.16	7.16	17.76	12.02	84.28	10.06	9.02	219.19	-17.14	8.64	71.65	15.4	10.14	4.64	3.54
Price/Cash Flow High	12.79	7.97	20.82	14.12	106.51	11.02	9.96	268.09	-21.43	10.83	93.02	18.15	14.45	6.42	6.01
Price/Cash Flow Low	7.94	5.71	14.8	9.35	56.03	8.7	7.94	188.48	-15.47	6.66	58.6	13.57	8.2	3.45	2.53
Price/Free Cash Flow Average	9.15	7.01	16.43	10.81	60.88	9.66	8.6	26.35	-20.76	8.35	66.76	13.55	9.03	3.18	3.05
Price/Free Cash Flow High	11.51	7.8	19.27	12.7	76.94	10.58	9.49	32.22	-25.96	10.47	86.67	15.97	12.86	4.4	5.18
Price/Free Cash Flow Low	7.15	5.58	13.69	8.41	40.47	8.35	7.57	22.65	-18.74	6.44	54.6	11.94	7.29	2.36	2.18
EV/Sales Average	1.36	1.29	1.41	2.03	1.78	1.74	2.13	1.63	1.65	1.46	1.29	0.81	1.03	1.16	1.26
EV/Sales High	1.8	1.48	1.71	2.45	2.34	1.95	2.39	2.02	2.08	1.88	1.75	1	1.51	1.64	2.44
EV/Sales Low	0.99	0.96	1.13	1.5	1.07	1.46	1.82	1.38	1.49	1.09	1.01	0.69	0.82	0.83	0.78
EV/EBITDA Average	6.97	6.45	5.91	31.2	9.8	10.03	24.4	12.35	18.89	26.52	382.48	12.89	7.69	6.41	6.47
EV/EBITDA High	9.21	7.38	7.14	37.6	12.86	11.19	27.47	15.33	23.73	34.01	518.21	15.91	11.2	9.1	12.51
EV/EBITDA Low	5.08	4.77	4.72	23.07	5.9	8.39	20.87	10.48	17	19.75	299.61	10.88	6.11	4.61	3.99
EV/EBIT Average	7.59	6.91	6.23	41.92	10.78	11.03	31.36	13.72	22.74	39.38	-84.08	17.06	8.56	6.85	6.83
EV/EBIT High	10.02	7.9	7.52	50.51	14.15	12.3	35.31	17.03	28.56	50.51	-113.91	21.05	12.47	9.73	13.21
EV/EBIT Low	5.53	5.11	4.98	30.99	6.5	9.23	26.82	11.64	20.47	29.32	-65.86	14.4	6.79	4.93	4.21
Last Price	24.68	26.41	25.7	25.12	26	26.01	22.42	26.83	24.75	17.32	14.82	14.24	16.75	21.25	45.71
High Price	29.2	27.1	31	33.89	31.5	27.77	27.65	29.97	32.55	27	23	16.57	22.96	27.32	48.71
Enterprise Value Average	40	41	48	55	48	48	48	53	60	46	36	26	37	45	55
Enterprise Value High	53	47	59	67	63	53	54	66	76	59	49	32	54	64	107
Enterprise Value Low	29	31	39	41	29	40	41	45	54	34	28	22	29	32	34

	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	2	2	2	2	2	2	2	2	2	2	2	2	2	3	3
Diluted Weighted Avg Shares	2	2	2	2	2	2	2	2	2	2	2	2	2	3	3
Basic Weighted Avg Shares	2	2	2	2	2	2	2	2	2	2	2	2	2	2	3
Revenue per Share	13.71	14.75	15.54	12.09	11.81	12.02	9.74	13.93	15.37	13.17	11.53	13.2	14.5	15.56	16.96
EBITDA per Share	2.68	2.95	3.72	0.79	2.15	2.09	0.85	1.84	1.35	0.73	0.04	0.83	1.95	2.81	3.31
Operating Income per Share	2.46	2.76	3.53	0.59	1.95	1.9	0.66	1.65	1.12	0.49	-0.18	0.63	1.75	2.63	3.14
Basic EPS, GAAP	1.79	2.02	2.52	0.52	1.4	1.39	0.49	1.32	0.99	0.49	-0.08	0.52	1.5	2.34	3.14
Basic EPS from Cont Ops	1.79	2.02	2.52	0.52	1.4	1.39	0.49	1.32	0.99	0.49	-0.08	0.52	1.5	2.34	3.14
Diluted EPS, GAAP	1.77	1.99	2.48	0.51	1.39	1.38	0.49	1.31	0.98	0.49	-0.08	0.52	1.49	2.29	3.02
Diluted EPS from Cont Ops	1.77	1.99	2.48	0.51	1.39	1.38	0.49	1.31	0.98	0.49	-0.08	0.52	1.49	2.29	3.02
Dividend per Share	1.9	1.89	1.97	2	0.75	1.25	1	1	2	1	0.5	- -	0.2	0.67	1
Cash Flow per Share	2.28	3.4	1.49	2.4	0.3	2.52	2.78	0.11	-1.52	2.49	0.25	0.91	1.59	4.26	8.1
Free Cash Flow per Basic Share	2	3.28	1.34	2.08	0.18	2.4	2.62	-0.71	-1.78	2.4	0.23	0.79	1.38	2.18	6.42
Cash & Equivalents per Share	5.41	6.77	6.24	6.44	5.73	6.83	8.42	6.78	3.01	4.41	4.11	4.86	5.99	9.33	16.82
Book Value per Share	11.06	11.08	11.45	9.78	10.07	10.43	9.81	10.04	8.86	8.28	7.67	8.11	9.33	10.87	12.58
Tangible Book Value per Share	13.32	13.61	14.43	13.2	13.62	14.17	13.79	14.35	13.45	13.05	12.61	13.2	14.62	16.58	19.62

Espey Mfg. & Electronics Corp.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)