Establishment Labs Holdings Inc. Financial Ratios — ESTA

Profitability (USD)

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	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 (%)	- -	- -	- -	-69.94	-66.54	-65.46	- -	- -	-236.67	-133.25
Return on Assets (%)	- -	-80.54	-24.3	-32.73	-27.94	-27.8	-42.9	-32.73	-27.49	-14.51
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	50.99	51.04	59.01	61.25	62	67.42	65.92	64.78	65.97	69.32
EBITDA Margin (%)	-76.97	-52.03	-34.4	-30.87	-28.59	-16.59	-21.84	-36.42	-25.54	-13.52
Operating Margin (%)	-79.96	-57.62	-38.99	-34.55	-32.97	-19.84	-24.53	-39.37	-30.11	-18.48
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	-111.23	-100.32	-34.12	-41.88	-44.9	-31.35	-45.04	-47.58	-50.97	-27.49
Profit Margin (%)	-111.91	-100.62	-34.47	-42.59	-45.02	-32.47	-46.51	-47.53	-50.95	-24.19
Net Income to Common Margin (%)	-111.91	-100.62	-34.47	-42.59	-45.02	-32.47	-46.51	-47.53	-50.95	-24.19
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	-69.94	-66.54	-65.46	- -	- -	-236.67	-133.25

Credit (USD)

Credit Ratios API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	38	24	23	48	53	54	179	192	225	264
ST Debt	38	24	- -	- -	1	- -	1	1	2	14
LT Debt	- -	- -	22	48	52	54	179	191	224	250
Total Debt/EBITDA	-2.5	-1.33	-1.08	-1.75	-2.17	-2.58	-5.08	-3.2	-5.31	-9.27
Net Debt/EBITDA	-2.47	-0.73	1.44	-0.38	1.43	0.07	-3.09	-2.47	-3.05	-6.46
Total Debt/EBIT	-2.41	-1.21	-0.95	-1.56	-1.88	-2.16	-4.52	-2.96	-4.51	-6.78
Net Debt/EBIT	-2.38	-0.66	1.27	-0.34	1.24	0.06	-2.75	-2.29	-2.59	-4.73
EBITDA to Interest Expense	-4.47	-1.73	-2.39	-3.18	-2.58	-2.32	-3	-3.91	-2.04	-1.13
EBITDA-CapEx/Interest Expense	-7.56	-1.82	-2.59	-3.98	-2.97	-2.75	-3.37	-4.51	-2.67	-1.4
EBIT to Interest Expense	-4.64	-1.92	-2.71	-3.56	-2.98	-2.77	-3.37	-4.22	-2.4	-1.54
Interest Expense	3	10	9	9	9	9	12	15	21	25
Common Equity/Total Assets	-89.42	-8.78	59.61	33.99	47.93	36.36	-3.88	6.85	15.31	6.59
Long-Term Debt/Equity (%)	- -	- -	32.12	121.53	69.04	106.04	- -	1,040.78	421.47	1,063.16
Long-Term Debt/Capital (%)	- -	- -	24.23	54.7	40.59	51.27	104.38	90.9	80.38	86.92
Long-Term Debt/Total Assets (%)	- -	- -	19.15	41.31	33.09	38.56	84.65	71.27	64.52	70.09
Total Debt/Equity (%)	-144.31	-480.51	32.61	122.18	70.09	106.84	-2,191.19	1,044.98	424.32	1,123.15
Total Debt/Capital (%)	325.67	126.28	24.59	54.99	41.21	51.65	104.78	91.27	80.93	91.82
Total Debt/Total Assets (%)	129.05	42.19	19.44	41.53	33.6	38.85	84.97	71.55	64.96	74.05
Net Debt to Equity	-142.5	-263.79	-43.63	26.47	-46.28	-2.97	-1,333	808.39	243.39	782.96
Net Debt/Capital (%)	335.29	161.05	-76.74	20.82	-80.71	-2.93	104.1	87.17	68.72	86.78
EBITDA	-15	-18	-21	-28	-24	-21	-35	-60	-42	-29
EBITDA-CapEx	-26	-19	-23	-35	-28	-25	-40	-69	-56	-35
Operating Income (Loss)	-16	-20	-24	-31	-28	-25	-40	-65	-50	-39

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.01	0.19	3.2	1.62	3.26	1.68	1.7	0.7	1.32	0.92
Current Ratio	0.23	0.69	6.05	4.12	5.11	3.55	3.85	3.06	3.56	3.04
Quick Ratio	0.13	0.42	4.27	2.6	4	2.44	2.61	1.52	2.28	1.86
CFO/Avg Current Liab	- -	-0.57	-0.92	-1.51	-0.51	-0.95	-1.47	-1.84	-0.93	-0.68
Common Equity/Total Assets	-89.42	-8.78	59.61	33.99	47.93	36.36	-3.88	6.85	15.31	6.59
Long-Term Debt/Equity (%)	- -	- -	32.12	121.53	69.04	106.04	- -	1,040.78	421.47	1,063.16
Long-Term Debt/Capital (%)	- -	- -	24.23	54.7	40.59	51.27	104.38	90.9	80.38	86.92
Long-Term Debt/Total Assets (%)	- -	- -	19.15	41.31	33.09	38.56	84.65	71.27	64.52	70.09
Total Debt/Equity (%)	-144.31	-480.51	32.61	122.18	70.09	106.84	-2,191.19	1,044.98	424.32	1,123.15
Total Debt/Capital (%)	325.67	126.28	24.59	54.99	41.21	51.65	104.78	91.27	80.93	91.82
Total Debt/Total Assets (%)	129.05	42.19	19.44	41.53	33.6	38.85	84.97	71.55	64.96	74.05
CFO/Total Liabilities	-25.48	-51.47	-71.96	-38.98	-15.36	-31.01	-23.79	-35.37	-19.92	-15.25
CFO/CapEx	-1.35	-33.97	-19.12	-4.28	-3.48	-7.11	-12.01	-9.58	-4.45	-7.57
Altman's Z-Score	-4.74	-2.78	6.7	3.54	5.79	9.9	3.27	0.03	1.48	2.66

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	3.51	3.98	4.43	4.04	5.82	5.4	4.01	2.97	2.96
Days Sales Outstanding	- -	103.96	91.7	82.35	90.29	62.76	67.56	90.99	123.03	123.21
Inventory Turnover	- -	1.89	1.32	1.3	1.24	1.6	1.7	1	0.71	0.79
Days Inventory Outstanding	- -	193.18	276.54	281.37	294.22	228.21	215.24	364.08	511.12	463.17
Accounts Payable Turnover	- -	3.09	4.78	4.64	2.66	3.84	3.67	3.28	1.29	1.63
Accounts Payable Turnover Days	- -	118.14	76.3	78.67	137.18	95.02	99.52	111.34	282.55	223.93
Cash Conversion Cycle	- -	179	291.94	285.05	247.33	195.95	183.28	343.73	351.59	362.45
Inventory to Cash Days	- -	-89.22	-184.83	-199.02	-203.93	-165.45	-147.68	-273.09	-388.09	-339.97
Inventories	5	13	25	29	23	28	37	79	79	86
Raw Materials	1	2	3	6	5	9	13	41	41	35
Work In Process	1	1	1	1	1	1	2	2	2	3
Finished Goods	3	10	20	22	17	18	22	37	35	48
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	556	571	885	1,628	1,602	675	1,326	2,136
- Cash & Cash Equivalents	- -	11	53	38	85	53	66	40	90	76
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	38	24	23	48	53	54	179	192	225	264
Enterprise Value	38	13	526	582	853	1,628	1,715	828	1,461	2,325
Total Capital	12	19	92	88	128	105	171	211	278	288
Total Debt/Capital (%)	325.67	126.28	24.59	54.99	41.21	51.65	104.78	91.27	80.93	91.82
Total Debt / EV	1.01	1.82	0.04	0.08	0.06	0.03	0.1	0.23	0.15	0.11
EV/Sales	1.9	0.38	8.59	6.5	10.08	12.85	10.61	5.01	8.8	11.01
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	1,782.6	- -	- -	- -	- -	- -
Diluted Market Cap	- -	- -	476	568	878	1,620	1,606	663	1,297	2,159
Diluted Enterprise Value	38	13	446	579	846	1,621	1,719	815	1,432	2,348
EV per Share	2.04	0.72	25.94	28.18	36.28	67.62	70.28	31.72	50.76	79.33
TTM Sales	20	35	61	90	85	127	162	165	166	211
TTM EBITDA	-15	-18	-21	-28	-24	-21	-35	-60	-42	-29
TTM Operating Income	-16	-20	-24	-31	-28	-25	-40	-65	-50	-39
TTM Cash Flow to Firm	-11	-22	-25	-21	-3	-18	-40	-73	-38	-29
TTM Free Cash Flow to Firm	- -	-21	-23	-14	- -	-14	-36	-64	-25	-22

Multiples (USD)

Valuation Multiples API ChatGPT

	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2016	12/31/2017	12/31/2018	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	- -	- -	-14.82	-24.72	-98.39	-68.48	-33.57	-8.36	-28.6	-48.87
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	38	13	526	582	853	1,628	1,715	828	1,461	2,325
Low Price	- -	- -	20.05	16.55	7.56	35.1	44.03	16.96	24.42	26.56
EV/Sales	1.9	0.38	8.59	6.5	10.08	12.85	10.61	5.01	8.8	11.01
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	-20.55	-12.64	-12.73	-40.22	-19.68	-18.45	-14.82	-25.24
Price/Earnings High	- -	- -	-25.26	-16.19	-23.17	-51.66	-30.5	-26.05	-20.01	-45.38
Price/Earnings Low	- -	- -	-16.49	-8.91	-4.62	-20.45	-14.32	-5.53	-8.13	-15.41
Price/Book Value	- -	- -	8	14.42	11.81	32.08	-195.77	36.72	24.98	90.7
Price/Book Value Average	- -	- -	7.29	12.24	6.53	32.75	-180.5	80.23	24.13	54.15
Price/Book Value High	- -	- -	8.96	15.67	11.88	42.08	-279.71	113.28	32.6	97.37
Price/Book Value Low	- -	- -	5.85	8.63	2.37	16.66	-131.3	24.05	13.24	33.05
Price/Tangible Book Value	- -	- -	8.47	16	12.58	35.46	-120.86	67.93	32.99	172.29
Price/Tangible Book Value Average	- -	- -	7.72	13.58	6.96	36.2	-111.43	148.43	31.87	102.86
Price/Tangible Book Value High	- -	- -	9.49	17.38	12.66	46.51	-172.68	209.58	43.05	184.96
Price/Tangible Book Value Low	- -	- -	6.2	9.57	2.53	18.41	-81.06	44.5	17.49	62.79
Price/Sales	- -	- -	7.77	6.34	10.36	12.79	9.93	4.01	7.81	10.23
Price/Sales Average	- -	- -	7.08	5.39	5.73	13.06	9.16	8.77	7.55	6.11
Price/Sales High	- -	- -	8.71	6.89	10.43	16.78	14.19	12.38	10.2	10.98
Price/Sales Low	- -	- -	5.68	3.8	2.08	6.64	6.66	2.63	4.14	3.73
Price/Cash Flow	- -	- -	-14.04	-18.95	-70.15	-58.85	-30.78	-7.49	-22.17	-42.42
Price/Cash Flow Average	- -	- -	-12.8	-16.09	-38.78	-60.09	-28.38	-16.36	-21.42	-25.32
Price/Cash Flow High	- -	- -	-15.72	-20.59	-70.6	-77.2	-43.98	-23.1	-28.93	-45.54
Price/Cash Flow Low	- -	- -	-10.27	-11.34	-14.09	-30.56	-20.64	-4.91	-11.75	-15.46
Price/Free Cash Flow Average	- -	- -	-13.5	-20.99	-54.39	-69.93	-30.95	-18.27	-27.63	-29.18
Price/Free Cash Flow High	- -	- -	-16.59	-26.87	-99.02	-89.83	-47.97	-25.79	-37.32	-52.47
Price/Free Cash Flow Low	- -	- -	-10.83	-14.79	-19.76	-35.56	-22.52	-5.48	-15.16	-17.81
EV/Sales Average	1.9	0.38	7.78	5.53	5.4	13.12	9.84	9.86	8.53	6.94
EV/Sales High	1.9	0.38	9.68	7.05	10.14	16.86	14.86	13.54	11.24	11.76
EV/Sales Low	1.9	0.38	6.15	3.94	1.72	6.68	7.34	3.6	5.05	4.58
EV/EBITDA Average	-2.47	-0.73	-22.63	-17.92	-18.9	-79.12	-45.03	-27.07	-33.4	-51.31
EV/EBITDA High	-2.47	-0.73	-28.13	-22.83	-35.48	-101.62	-68.02	-37.18	-43.99	-86.97
EV/EBITDA Low	-2.47	-0.73	-17.87	-12.75	-6.02	-40.26	-33.63	-9.89	-19.76	-33.9
EV/EBIT Average	-2.38	-0.66	-19.96	-16.02	-16.38	-66.14	-40.1	-25.04	-28.33	-37.53
EV/EBIT High	-2.38	-0.66	-24.82	-20.41	-30.77	-84.95	-60.58	-34.39	-37.32	-63.62
EV/EBIT Low	-2.38	-0.66	-15.77	-11.39	-5.22	-33.65	-29.95	-9.14	-16.76	-24.8
Last Price	- -	- -	27.42	27.66	37.64	67.59	65.65	25.89	46.07	72.88
High Price	- -	- -	30.71	30.06	37.88	88.66	93.8	79.88	60.12	78.24
Enterprise Value Average	38	13	476	496	457	1,663	1,590	1,628	1,416	1,464
Enterprise Value High	38	13	592	631	859	2,136	2,402	2,236	1,866	2,482
Enterprise Value Low	38	13	376	352	146	846	1,188	595	838	967

Shares Outstanding	18	18	20	21	24	24	24	26	29	29
Diluted Weighted Avg Shares	18	18	17	21	23	24	24	26	28	30
Basic Weighted Avg Shares	18	15	17	21	23	24	24	26	28	30
Revenue per Share	1.07	2.31	3.53	4.36	3.63	5.28	6.61	6.45	5.9	7.13
EBITDA per Share	-0.82	-1.2	-1.21	-1.35	-1.04	-0.88	-1.44	-2.35	-1.51	-0.96
Operating Income per Share	-0.86	-1.33	-1.38	-1.51	-1.2	-1.05	-1.62	-2.54	-1.77	-1.32
Basic EPS, GAAP	-1.2	-2.33	-1.22	-1.86	-1.63	-1.72	-3.08	-3.07	-3	-1.72
Basic EPS from Cont Ops	-1.2	-2.33	-1.22	-1.86	-1.63	-1.72	-3.08	-3.07	-3	-1.72
Diluted EPS, GAAP	-1.2	-1.89	-1.22	-1.86	-1.63	-1.72	-3.08	-3.07	-3	-1.72
Diluted EPS from Cont Ops	-1.2	-1.89	-1.22	-1.86	-1.63	-1.72	-3.08	-3.07	-3	-1.72
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	-0.77	-2.13	-1.95	-1.46	-0.54	-1.15	-2.13	-3.46	-2.08	-1.72
Free Cash Flow per Basic Share	-1.34	-2.2	-2.06	-1.8	-0.69	-1.31	-2.31	-3.82	-2.54	-1.95
Cash & Equivalents per Share	0.03	0.59	2.6	1.82	3.59	2.22	2.72	1.53	3.14	2.58
Book Value per Share	-1.43	-0.27	3.43	1.92	3.19	2.11	-0.34	0.71	1.84	0.8
Tangible Book Value per Share	-1.56	-0.48	3.24	1.73	2.99	1.91	-0.54	0.38	1.4	0.42

Establishment Labs Holdings Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)