Exponent, Inc. Financial Ratios — EXPO 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 (%)	19.49	19.31	17.88	17.21	16.89	16.94	13.88	22.36	22.69	20.47	22.48	20.32	18.19	18.19	16.4
Return on Assets (%)	12.39	12.74	11.72	11.47	11.58	12	9.8	15.91	15.98	14.44	16.02	16.11	16.27	15.31	13.64
Return on Capital (%)	19.49	19.31	17.88	17.21	16.89	16.94	13.88	22.36	21.96	19.4	21.63	19.66	17.45	16.67	14.55
Return on Invested Capital (%)	17.32	17.33	14.98	15.88	16.66	15.86	12.83	23.49	19.57	18.75	21.53	28.26	22.72	19.94	17.67
Gross Margin (%)	32.97	91.08	94.56	94.91	94.53	94.96	94.79	93.44	93.81	100	100	100	100	100	100
EBITDA Margin (%)	21.24	21.3	20.56	22.63	23.79	21.6	22.52	25.76	22.03	22.54	24.75	28.82	22.4	23.14	22.31
Operating Margin (%)	19.62	19.69	18.89	20.86	22.04	19.65	20.72	24.1	20.4	20.82	23.36	27.44	20.74	21.41	20.58
Incremental Operating Margin (%)	43.13	20.59	-47.62	89.07	66.24	-312.92	30.99	61.17	-16.84	10.76	38.69	67.87	-125.76	37.87	0.98
Pretax Margin (%)	20.12	21.1	21.59	22.31	22.74	21.94	23.72	24.59	24.97	24.24	26.99	25.76	25.32	26.39	25.31
Profit Margin (%)	12	12.72	13.05	13.36	13.94	15.07	11.88	19.04	19.77	20.64	21.7	19.94	18.69	19.52	18.21
Net Income to Common Margin (%)	12	12.72	13.05	13.36	13.94	15.07	11.88	19.04	19.77	20.64	21.7	19.94	18.69	19.52	18.21
Effective Tax Rate (%)	40.36	39.72	39.57	40.11	38.71	31.31	49.94	22.57	20.86	14.84	19.58	22.61	26.16	26.04	28.03
Dvd Payout Ratio (%)	- -	- -	20.52	32.08	35.89	39.56	52.86	37.67	40.63	48.18	42.68	48.12	53.86	53.41	58.05
Sustainable Growth Rate (%)	19.49	19.31	14.21	11.69	10.83	10.24	6.54	13.94	13.47	10.61	12.89	10.54	8.39	8.48	6.88

Credit (USD)

API Chat

	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	- -	- -	- -	- -	- -	- -	- -	- -	24	20	15	19	28	81	83
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	6	6	5	5	6	5	7
LT Debt	- -	- -	- -	- -	- -	- -	- -	- -	18	14	10	13	22	76	76
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	0.26	0.23	0.13	0.13	0.24	0.63	0.64
Net Debt/EBITDA	-1.46	-1.82	-2.02	-1.88	-1.69	-1.69	-1.59	-1.3	-1.92	-2.19	-2.58	-1.09	-1.56	-2	-1.71
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	0.28	0.24	0.14	0.13	0.25	0.68	0.69
Net Debt/EBIT	-1.58	-1.97	-2.2	-2.04	-1.82	-1.86	-1.73	-1.39	-2.07	-2.37	-2.73	-1.15	-1.68	-2.17	-1.85
EBITDA to Interest Expense	57,871	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	57,871	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	53,460	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	66.76	65.33	65.68	67.61	69.49	72.14	69.17	72.95	68.29	72.73	69.97	90.15	88.77	80.31	85.98
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	5.18	3.97	2.35	4.16	6.17	18.07	19.46
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	4.44	3.24	1.99	2.44	3.65	10.78	10.11
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	3.22	2.47	1.43	2.27	3.4	9.79	9.77
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	6.88	5.62	3.59	5.8	7.94	19.35	21.22
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	5.9	4.6	3.03	3.4	4.69	11.55	11.03
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	4.28	3.5	2.19	3.17	4.37	10.48	10.65
Net Debt to Equity	-45.22	-52.33	-52.31	-53.01	-47.85	-42.06	-43.17	-40.48	-50.37	-54.64	-71.38	-50.34	-52.56	-61.49	-56.86
Net Debt/Capital (%)	-88.87	-122.05	-119.24	-110.2	-87.61	-65.21	-69.62	-59.09	-75.92	-80.73	-152.1	-41.83	-45.07	-57.95	-41.92
EBITDA	58	62	61	69	74	68	78	98	92	90	115	148	120	129	130
EBITDA-CapEx	58	62	61	69	74	68	78	98	92	90	115	148	120	129	130
Operating Income (Loss)	53	58	56	64	69	62	72	91	85	83	109	141	111	120	120

Liquidity (USD)

API Chat

	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	1.81	1.87	2.16	1.95	2.13	2.17	2.11	2.12	1.87	2.07	1.95	1.02	1.16	1.59	1.25
Current Ratio	3.27	3.28	3.49	3.22	3.39	3.42	3.39	3.32	2.94	3.13	2.96	2.2	2.34	2.74	2.4
Quick Ratio	3.01	3.06	3.23	3.03	3.23	3.25	3.29	3.2	2.84	3.02	2.86	2.08	2.19	2.58	2.27
CFO/Avg Current Liab	0.79	0.73	0.86	0.64	0.76	0.83	0.78	0.95	0.97	0.86	0.92	0.6	0.79	0.89	0.77
Common Equity/Total Assets	66.76	65.33	65.68	67.61	69.49	72.14	69.17	72.95	68.29	72.73	69.97	90.15	88.77	80.31	85.98
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	5.18	3.97	2.35	4.16	6.17	18.07	19.46
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	4.44	3.24	1.99	2.44	3.65	10.78	10.11
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	3.22	2.47	1.43	2.27	3.4	9.79	9.77
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	6.88	5.62	3.59	5.8	7.94	19.35	21.22
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	5.9	4.6	3.03	3.4	4.69	11.55	11.03
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	4.28	3.5	2.19	3.17	4.37	10.48	10.65
CFO/Total Liabilities	56.77	49	56.63	39.87	48.51	51.34	45.07	58.82	50.69	47.26	46.71	35.28	43.81	40.58	34.02
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	7.49	7.23	8.12	7.92	8.82	9.68	9.92	12.88	12.48	15.16	16.11	14.67	12.27	10.49	8.36

Working Capital (USD)

API Chat

	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	4.45	5.57	5.52	5.25	4.98	5.13	5.02	4.99	5.23	4.82	5.11	4.62	4.32	4.55	4.62
Days Sales Outstanding	81.97	65.47	66.14	69.48	73.33	71.17	72.75	73.11	69.76	75.7	71.36	79.02	84.41	80.24	79.08
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	86.66	4.65	3.29	6.16	5.85	4.66	6.07	9.33	7.17	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	4.21	78.52	111.01	59.22	62.36	78.33	60.15	39.13	50.88	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	77.76	-13.04	-44.87	10.26	10.97	-7.16	12.6	33.99	18.89	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	81.97	65.47	66.14	69.48	73.33	71.17	72.75	73.11	69.76	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

API Chat

	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	570	672	928	992	1,204	1,466	1,744	2,524	3,456	4,526	5,940	5,008	4,450	4,556	3,536
- Cash & Cash Equivalents	84	113	123	129	126	115	125	127	176	198	298	161	187	259	222
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	- -	- -	- -	- -	- -	24	20	15	19	28	81	83
Enterprise Value	460	538	772	837	1,032	1,293	1,547	2,315	3,249	4,304	5,657	4,865	4,291	4,378	3,397
Total Capital	179	206	226	247	269	291	304	342	409	442	493	547	602	706	751
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	5.9	4.6	3.03	3.4	4.69	11.55	11.03
Total Debt / EV	- -	- -	- -	- -	- -	- -	- -	- -	0.01	- -	- -	- -	0.01	0.02	0.02
EV/Sales	1.69	1.84	2.61	2.75	3.3	4.1	4.45	6.1	7.79	10.76	12.13	9.48	7.99	7.84	5.84
EV/EBITDA	7.95	8.63	12.68	12.15	13.87	19	19.75	23.68	35.34	47.76	49.01	32.89	35.69	33.87	26.15
EV/EBIT	8.6	9.33	13.8	13.18	14.97	20.88	21.47	25.31	38.17	51.7	51.93	34.54	38.54	36.62	28.36
EV/Cash Flow to Firm	9.87	11.09	12.49	17.36	17.06	19.31	22.81	25.39	30.06	41.66	45.41	51.86	33.69	30.29	25.79
EV/Free Cash Flow to Firm	9.87	11.09	12.49	17.36	17.06	19.31	22.81	25.39	30.06	41.66	45.41	51.86	33.69	30.29	25.79
Diluted Market Cap	592	697	956	1,020	1,235	1,504	1,785	2,584	3,534	4,607	6,021	5,061	4,492	4,595	3,559
Diluted Enterprise Value	508	584	833	890	1,109	1,389	1,660	2,457	3,382	4,430	5,738	4,918	4,333	4,417	3,420
EV per Share	8.11	9.76	14.17	15.56	19.4	24.4	29.34	43.76	61.65	82.16	107.53	94.05	83.88	85.63	66.73
TTM Sales	272	293	296	305	313	315	348	380	417	400	466	513	537	559	582
TTM EBITDA	58	62	61	69	74	68	78	98	92	90	115	148	120	129	130
TTM Operating Income	53	58	56	64	69	62	72	91	85	83	109	141	111	120	120
TTM Cash Flow to Firm	47	49	62	48	60	67	68	91	108	103	125	94	127	145	132
TTM Free Cash Flow to Firm	47	49	62	48	60	67	68	91	108	103	125	94	127	145	132

Multiples (USD)

API Chat

	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	12.71	14.37	15.47	21.13	20.42	22.46	26.31	28.34	32.71	44.59	48.34	53.95	35.27	31.79	27.02
EV/EBIT	8.6	9.33	13.8	13.18	14.97	20.88	21.47	25.31	38.17	51.7	51.93	34.54	38.54	36.62	28.36
Enterprise Value	460	538	772	837	1,032	1,293	1,547	2,315	3,249	4,304	5,657	4,865	4,291	4,378	3,397
Low Price	8.77	11.27	11.79	16.2	19.6	22.41	27.88	34.9	47.1	58.03	82.13	80.97	64.61	68.7	63.81
EV/Sales	1.69	1.84	2.61	2.75	3.3	4.1	4.45	6.1	7.79	10.76	12.13	9.48	7.99	7.84	5.84
EV/EBITDA	7.95	8.63	12.68	12.15	13.87	19	19.75	23.68	35.34	47.76	49.01	32.89	35.69	33.87	26.15
Price/Earnings	17.42	18.05	24.02	24.37	27.61	30.88	42.21	34.93	41.91	54.83	58.69	48.94	44.35	41.79	33.35
Price/Earnings Average	15.99	16.42	19.37	21.74	24.93	26.78	38	31.73	36.99	46.05	51.76	46.98	46.03	44.15	36.66
Price/Earnings High	22.19	21.81	28.37	27.77	33.4	36.15	49.25	39.96	46.45	57.76	66.34	60.12	57.48	54.29	46.85
Price/Earnings Low	15.22	16.69	16.62	21.42	23.92	25	35.59	25.55	30.1	36.83	42.7	40.93	32.94	32.22	30.64
Price/Book Value	3.17	3.26	4.11	4.02	4.47	5.03	5.73	7.38	8.98	10.73	12.41	9.47	7.75	7.3	5.29
Price/Book Value Average	2.91	2.97	3.31	3.58	4.04	4.37	5.16	6.7	7.93	9.01	10.95	9.09	8.04	7.71	5.81
Price/Book Value High	4.04	3.94	4.85	4.58	5.41	5.89	6.69	8.44	9.96	11.3	14.03	11.63	10.05	9.48	7.43
Price/Book Value Low	2.77	3.01	2.84	3.53	3.87	4.08	4.83	5.4	6.45	7.21	9.03	7.92	5.76	5.63	4.86
Price/Tangible Book Value	3.2	3.23	4.1	4.21	4.74	5.54	6.22	8.27	10.12	12.83	14.54	16.04	12.81	11.04	9.26
Price/Tangible Book Value Average	2.93	2.94	3.3	3.75	4.28	4.8	5.6	7.51	8.93	10.77	12.83	15.4	13.29	11.67	10.18
Price/Tangible Book Value High	4.07	3.91	4.84	4.8	5.73	6.48	7.25	9.46	11.21	13.51	16.44	19.71	16.6	14.35	13.01
Price/Tangible Book Value Low	2.79	2.99	2.84	3.7	4.1	4.48	5.24	6.05	7.26	8.61	10.58	13.42	9.51	8.52	8.51
Price/Sales	2.09	2.3	3.13	3.26	3.85	4.65	5.01	6.65	8.28	11.32	12.74	9.76	8.29	8.16	6.08
Price/Sales Average	1.92	2.09	2.53	2.9	3.47	4.04	4.51	6.04	7.31	9.51	11.24	9.37	8.6	8.62	6.68
Price/Sales High	2.66	2.77	3.7	3.71	4.66	5.45	5.85	7.61	9.18	11.92	14.4	11.99	10.74	10.6	8.53
Price/Sales Low	1.83	2.12	2.17	2.86	3.33	3.77	4.23	4.87	5.95	7.6	9.27	8.16	6.16	6.29	5.58
Price/Cash Flow	12.22	13.85	15.02	20.56	19.9	21.9	25.7	27.67	31.98	43.81	47.68	53.38	34.94	31.52	26.84
Price/Cash Flow Average	11.22	12.6	12.11	18.34	17.97	18.99	23.13	25.14	28.23	36.8	42.05	51.25	36.26	33.3	29.5
Price/Cash Flow High	15.57	16.74	17.74	23.42	24.08	25.64	29.98	31.67	35.45	46.15	53.89	65.58	45.29	40.95	37.7
Price/Cash Flow Low	10.68	12.81	10.39	18.07	17.24	17.73	21.67	20.25	22.97	29.43	34.69	44.65	25.95	24.3	24.66
Price/Free Cash Flow Average	11.67	13.07	12.47	18.85	18.44	19.48	23.68	25.74	28.86	37.45	42.63	51.79	36.61	33.59	29.7
Price/Free Cash Flow High	16.2	17.36	18.28	24.08	24.7	26.3	30.69	32.42	36.25	46.97	54.63	66.28	45.71	41.3	37.96
Price/Free Cash Flow Low	11.11	13.28	10.7	18.58	17.69	18.19	22.18	20.73	23.49	29.95	35.16	45.13	26.2	24.51	24.82
EV/Sales Average	1.61	1.7	2.11	2.48	3.07	3.67	4.15	5.71	6.95	9.06	10.63	9.09	8.31	8.3	6.44
EV/Sales High	2.35	2.39	3.29	3.28	4.25	5.08	5.49	7.27	8.82	11.48	13.79	11.71	10.45	10.28	8.29
EV/Sales Low	1.52	1.74	1.75	2.44	2.93	3.4	3.87	4.53	5.58	7.16	8.66	7.88	5.86	5.97	5.34
EV/EBITDA Average	7.57	7.99	10.27	10.95	12.92	17	18.44	22.15	31.53	40.22	42.94	31.53	37.09	35.87	28.86
EV/EBITDA High	11.08	11.21	15.98	14.51	17.88	23.54	24.37	28.24	40.02	50.94	55.72	40.62	46.64	44.42	37.17
EV/EBITDA Low	7.14	8.15	8.53	10.77	12.33	15.76	17.17	17.59	25.34	31.77	34.99	27.35	26.17	25.8	23.94
EV/EBIT Average	8.2	8.64	11.18	11.89	13.94	18.68	20.05	23.68	34.05	43.54	45.5	33.12	40.06	38.77	31.28
EV/EBIT High	11.99	12.13	17.4	15.75	19.3	25.87	26.5	30.18	43.22	55.14	59.04	42.67	50.38	48.02	40.3
EV/EBIT Low	7.73	8.82	9.28	11.68	13.31	17.32	18.67	18.8	27.37	34.39	37.07	28.72	28.26	27.9	25.96
Last Price	10.04	12.19	17.04	18.43	22.62	27.68	33.07	47.7	65.59	86.4	112.9	96.81	86.99	89.1	69.46
High Price	12.79	14.73	20.13	21	27.37	32.4	38.58	54.58	72.7	91.01	127.61	118.93	112.75	115.75	97.57
Enterprise Value Average	438	498	625	755	961	1,157	1,445	2,166	2,898	3,624	4,956	4,664	4,459	4,635	3,747
Enterprise Value High	641	699	973	1,001	1,331	1,601	1,909	2,761	3,678	4,591	6,431	6,009	5,608	5,741	4,828
Enterprise Value Low	413	508	519	742	917	1,072	1,345	1,719	2,329	2,863	4,038	4,045	3,146	3,335	3,109

	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	53	53	52	51	51	51	52	51	52	52	52	51	51	51	50
Diluted Weighted Avg Shares	59	57	56	55	55	54	54	54	54	53	53	52	52	52	51
Basic Weighted Avg Shares	57	55	54	54	53	53	53	53	53	52	53	52	51	51	51
Revenue per Share	4.8	5.31	5.44	5.66	5.88	5.95	6.6	7.17	7.92	7.63	8.86	9.92	10.49	10.92	11.43
EBITDA per Share	1.02	1.13	1.12	1.28	1.4	1.28	1.49	1.85	1.74	1.72	2.19	2.86	2.35	2.53	2.55
Operating Income per Share	0.94	1.05	1.03	1.18	1.3	1.17	1.37	1.73	1.62	1.59	2.07	2.72	2.18	2.34	2.35
Basic EPS, GAAP	0.58	0.68	0.71	0.76	0.82	0.9	0.78	1.37	1.56	1.58	1.92	1.98	1.96	2.13	2.08
Basic EPS from Cont Ops	0.58	0.68	0.71	0.76	0.82	0.9	0.78	1.37	1.56	1.58	1.92	1.98	1.96	2.13	2.08
Diluted EPS, GAAP	0.55	0.65	0.69	0.74	0.8	0.87	0.77	1.33	1.53	1.55	1.9	1.96	1.94	2.11	2.07
Diluted EPS from Cont Ops	0.55	0.65	0.69	0.74	0.8	0.87	0.77	1.33	1.53	1.55	1.9	1.96	1.94	2.11	2.07
Dividend per Share	- -	- -	0.15	0.24	0.29	0.35	0.41	0.51	0.64	0.76	0.82	0.95	1.06	1.14	1.21
Cash Flow per Share	0.82	0.88	1.13	0.9	1.14	1.26	1.29	1.72	2.05	1.97	2.37	1.81	2.49	2.83	2.59
Free Cash Flow per Basic Share	0.82	0.88	1.13	0.9	1.14	1.26	1.29	1.72	2.05	1.97	2.37	1.81	2.49	2.83	2.59
Cash & Equivalents per Share	1.93	2.43	2.87	2.87	3.22	3.28	3.73	3.94	4.4	4.63	5.66	3.12	3.66	5.06	4.36
Book Value per Share	3.16	3.74	4.15	4.59	5.06	5.5	5.77	6.47	7.3	8.05	9.09	10.22	11.22	12.21	13.13
Tangible Book Value per Share	3.14	3.77	4.16	4.38	4.78	5	5.32	5.77	6.48	6.74	7.76	6.03	6.79	8.07	7.5

Exponent, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)