FB Financial Corporation Financial Ratios — FBK Stock

Profitability (USD)

	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 (%)	- -	30.2	37.52	31.52	35.42	37.33	29.08	18.46	42.33	21.34	17.7	15.13	14.36
Return on Assets (%)	- -	1.39	1.8	1.31	1.31	1.63	1.49	0.73	1.6	0.98	0.94	0.9	0.83
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	3.99	3.81	4.15	5.65	2.14	2.25	2.63	2.27	2.41	2.39	3.11	3.27	3.09
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	24.64	25.88	27.7	24.38	24.92	31.63	30.31	14.53	42.22	30.27	31.46	32.19	24.68
Profit Margin (%)	23.02	24.19	26.09	15.88	17.77	23.97	23.19	11.21	33.06	23.63	25.16	25.47	21.85
Net Income to Common Margin (%)	23.02	24.19	26.09	15.88	17.77	23.97	23.19	11.21	33.06	23.63	25.16	25.47	21.85
Effective Tax Rate (%)	6.58	6.53	5.84	34.87	28.7	24.2	23.48	22.84	21.7	21.94	20	20.88	11.46
Dvd Payout Ratio (%)	41.85	45.75	52.97	170.73	- -	7.65	11.98	22.28	10.96	19.67	23.33	27.38	30.89
Sustainable Growth Rate (%)	- -	16.39	17.65	-22.29	35.42	34.47	25.59	14.34	37.69	17.14	13.57	10.98	9.93

Credit (USD)

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	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	138	144	75	195	538	230	346	300	227	495	360	233	183
ST Debt	70	79	18	150	190	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	68	65	57	45	348	230	346	300	227	495	360	233	183
Total Debt/EBITDA	29.57	28.16	9.8	13.49	85.18	30.65	36.34	23.31	16.31	39.28	24.23	15.63	10.57
Net Debt/EBITDA	16.35	20.13	-0.19	4.96	76.69	18.14	21.93	-74.05	-107.24	-31.05	-29.36	-49.86	-47.24
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	4.41	4.75	4.82	3.6	3.76	4.9	5.3	3.26	4.24	4.93	5.75	6.15	5.51
Long-Term Debt/Equity (%)	35.78	30.13	23.92	13.58	58.25	34.3	45.35	23.21	15.81	37.34	24.72	14.87	9.41
Long-Term Debt/Capital (%)	28.58	25.01	26.42	14.35	48.58	47.77	51.58	45.09	29.77	43.87	33.14	22.36	16.95
Long-Term Debt/Total Assets (%)	3	2.67	1.95	1.37	7.35	4.49	5.64	2.67	1.8	3.85	2.85	1.77	1.12
Total Debt/Equity (%)	72.68	66.84	31.53	58.97	90.09	34.3	45.35	23.21	15.81	37.34	24.72	14.87	9.41
Total Debt/Capital (%)	58.07	55.48	34.82	62.31	75.13	47.77	51.58	45.09	29.77	43.87	33.14	22.36	16.95
Total Debt/Total Assets (%)	6.1	5.92	2.57	5.95	11.37	4.49	5.64	2.67	1.8	3.85	2.85	1.77	1.12
Net Debt to Equity	40.19	47.79	-0.62	21.66	81.1	20.31	27.37	-73.74	-103.97	-29.52	-29.94	-47.44	-42.07
Net Debt/Capital (%)	43.37	47.12	-1.07	37.79	73.11	35.13	36.69	178.95	163.89	-125.48	-121.92	-592.83	-588.45
EBITDA	5	5	8	14	6	8	10	13	14	13	15	15	17
EBITDA-CapEx	-1	- -	2	10	2	-3	3	7	8	2	-5	8	9
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	4.41	4.75	4.82	3.6	3.76	4.9	5.3	3.26	4.24	4.93	5.75	6.15	5.51
Long-Term Debt/Equity (%)	35.78	30.13	23.92	13.58	58.25	34.3	45.35	23.21	15.81	37.34	24.72	14.87	9.41
Long-Term Debt/Capital (%)	28.58	25.01	26.42	14.35	48.58	47.77	51.58	45.09	29.77	43.87	33.14	22.36	16.95
Long-Term Debt/Total Assets (%)	3	2.67	1.95	1.37	7.35	4.49	5.64	2.67	1.8	3.85	2.85	1.77	1.12
Total Debt/Equity (%)	72.68	66.84	31.53	58.97	90.09	34.3	45.35	23.21	15.81	37.34	24.72	14.87	9.41
Total Debt/Capital (%)	58.07	55.48	34.82	62.31	75.13	47.77	51.58	45.09	29.77	43.87	33.14	22.36	16.95
Total Debt/Total Assets (%)	6.1	5.92	2.57	5.95	11.37	4.49	5.64	2.67	1.8	3.85	2.85	1.77	1.12
CFO/Total Liabilities	2.95	-4.77	-1.72	-8.32	0.91	4.75	1.19	-2.72	0.49	6.94	1.89	1.2	1.09
CFO/CapEx	10.31	-19.47	-7.73	-51.25	8.28	20.92	9.38	-45.5	9	75.24	10.43	21.2	17.61
Altman's Z-Score	0.11	0.11	0.13	0.22	0.28	0.28	0.27	0.17	0.21	0.2	0.22	0.24	0.23

Working Capital (USD)

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	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	- -	20.21	27.42	36.51	29.04	24.28	22.89	18.7	14.02	12.52	9.71	8.9	10.38
Days Sales Outstanding	- -	18.06	13.31	10	12.57	15.03	15.95	19.52	26.04	29.15	37.59	40.99	35.18
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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	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	- -	- -	- -	497	1,160	1,074	1,222	1,307	2,078	1,703	1,864	2,407	2,776
- Cash & Cash Equivalents	62	41	76	123	54	94	102	1,197	1,670	817	728	917	943
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	138	144	75	195	538	230	346	300	227	495	360	233	183
Enterprise Value	-609	-550	-651	-13	1,108	555	778	-763	-1,043	-90	518	897	1,403
Total Capital	237	259	214	313	716	482	670	665	761	1,128	1,085	1,042	1,082
Total Debt/Capital (%)	58.07	55.48	34.82	62.31	75.13	47.77	51.58	45.09	29.77	43.87	33.14	22.36	16.95
Total Debt / EV	-0.23	-0.26	-0.11	-14.71	0.49	0.42	0.44	-0.39	-0.22	-5.5	0.69	0.26	0.13
EV/Sales	- -	- -	- -	- -	3.76	1.66	2.15	- -	- -	- -	1.08	1.97	2.5
EV/EBITDA	- -	- -	- -	- -	175.53	73.81	81.76	- -	- -	- -	34.91	60.16	80.88
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	29.45	2.62	12.17	- -	- -	- -	2.45	6.46	9
EV/Free Cash Flow to Firm	- -	- -	- -	- -	26.28	2.5	11	- -	- -	- -	2.24	6.17	8.52
Diluted Market Cap	- -	- -	- -	501	1,184	1,097	1,243	1,323	2,101	1,707	1,866	2,414	2,794
Diluted Enterprise Value	76	103	-1	573	1,668	1,233	1,487	426	658	1,386	1,498	1,731	2,035
EV per Share	- -	- -	- -	- -	40.1	18.09	25.2	- -	- -	- -	11.07	19.2	28.21
TTM Sales	117	134	183	256	295	335	361	568	576	527	478	456	561
TTM EBITDA	5	5	8	14	6	8	10	13	14	13	15	15	17
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	61	-106	-46	-245	38	212	64	-270	55	800	211	139	156
TTM Free Cash Flow to Firm	67	-100	-40	-240	42	222	71	-264	61	810	231	145	165

Multiples (USD)

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	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	- -	- -	- -	-2.08	28.1	4.93	17.58	-5.01	34.45	2.11	8.07	16.61	16.96
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-609	-550	-651	-13	1,108	555	778	-763	-1,043	-90	518	897	1,403
Low Price	- -	- -	- -	19.81	23.71	32.66	30.33	14.38	33.66	34.02	24.34	33.35	38.83
EV/Sales	- -	- -	- -	- -	3.76	1.66	2.15	- -	- -	- -	1.08	1.97	2.5
EV/EBITDA	- -	- -	- -	- -	175.53	73.81	81.76	- -	- -	- -	34.91	60.16	80.88
Price/Earnings	- -	- -	- -	12.25	22.14	13.39	14.58	20.54	10.92	13.67	15.51	20.75	22.64
Price/Earnings Average	- -	- -	- -	10.63	18.59	15.54	13.36	16.49	10.42	15.68	12.49	17.24	20.33
Price/Earnings High	- -	- -	- -	12.49	23.63	17.37	14.85	23.7	12.37	17.93	15.95	23.72	24.55
Price/Earnings Low	- -	- -	- -	9.35	12.5	12.49	11.17	8.5	8.39	12.87	9.47	13.43	15.75
Price/Book Value	- -	- -	- -	4.22	6.52	4.26	3.77	3.58	3.89	2.69	2.57	2.98	3.09
Price/Book Value Average	- -	- -	- -	3.66	5.47	4.95	3.45	2.88	3.71	3.08	2.07	2.47	2.78
Price/Book Value High	- -	- -	- -	4.3	6.96	5.53	3.84	4.13	4.41	3.53	2.64	3.4	3.35
Price/Book Value Low	- -	- -	- -	3.22	3.68	3.98	2.88	1.48	2.99	2.53	1.57	1.93	2.15
Price/Tangible Book Value	- -	- -	- -	2.03	3.16	2.48	2.45	1.38	1.97	1.89	1.79	2.08	1.96
Price/Tangible Book Value Average	- -	- -	- -	1.76	2.66	2.88	2.25	1.11	1.88	2.17	1.45	1.73	1.76
Price/Tangible Book Value High	- -	- -	- -	2.07	3.38	3.22	2.5	1.6	2.23	2.48	1.85	2.38	2.12
Price/Tangible Book Value Low	- -	- -	- -	1.55	1.79	2.31	1.88	0.57	1.51	1.78	1.1	1.35	1.36
Price/Sales	- -	- -	- -	1.95	3.93	3.21	3.38	2.3	3.61	3.23	3.9	5.28	4.95
Price/Sales Average	- -	- -	- -	1.69	3.3	3.73	3.1	1.85	3.44	3.7	3.14	4.39	4.44
Price/Sales High	- -	- -	- -	1.98	4.2	4.16	3.44	2.66	4.09	4.24	4.01	6.04	5.36
Price/Sales Low	- -	- -	- -	1.49	2.22	2.99	2.59	0.95	2.77	3.04	2.38	3.42	3.44
Price/Cash Flow	- -	- -	- -	-2.03	30.84	5.06	19.12	-4.84	37.86	2.13	8.83	17.34	17.81
Price/Cash Flow Average	- -	- -	- -	-1.76	25.91	5.88	17.53	-3.89	36.11	2.44	7.11	14.41	16
Price/Cash Flow High	- -	- -	- -	-2.07	32.92	6.57	19.48	-5.58	42.87	2.79	9.09	19.83	19.32
Price/Cash Flow Low	- -	- -	- -	-1.55	17.42	4.72	14.65	-2	29.08	2	5.39	11.23	12.39
Price/Free Cash Flow Average	- -	- -	- -	-1.81	23.6	5.73	16.11	-4.02	32.86	2.42	6.5	13.8	15.24
Price/Free Cash Flow High	- -	- -	- -	-2.12	29.98	6.4	17.91	-5.78	39.01	2.76	8.3	18.99	18.4
Price/Free Cash Flow Low	- -	- -	- -	-1.59	15.87	4.6	13.47	-2.07	26.46	1.98	4.93	10.76	11.8
EV/Sales Average	0.65	0.77	- -	1.97	4.95	4.13	3.77	0.27	0.94	3.1	2.37	2.89	3.09
EV/Sales High	0.65	0.77	- -	2.26	5.84	4.57	4.12	1.08	1.58	3.63	3.24	4.54	4.01
EV/Sales Low	0.65	0.77	- -	1.77	3.86	3.4	3.27	- -	0.27	2.43	1.61	1.92	2.09
EV/EBITDA Average	16.35	20.13	-0.19	34.83	231.07	184	143.38	11.82	38.82	129.48	76.38	88.3	99.93
EV/EBITDA High	16.35	20.13	-0.19	40.04	272.85	203.49	156.51	47.51	65.55	151.7	104.46	138.7	129.75
EV/EBITDA Low	16.35	20.13	-0.19	31.23	180.48	151.39	124.07	-27.68	11.05	101.68	51.94	58.68	67.57
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	- -	- -	- -	25.95	41.99	35.02	39.59	34.73	43.82	36.14	39.85	51.51	55.8
High Price	- -	- -	- -	26.45	44.81	45.43	40.33	40.08	49.62	47.4	41	58.88	60.52
Enterprise Value Average	76	103	-1	503	1,458	1,383	1,364	152	539	1,632	1,133	1,317	1,734
Enterprise Value High	76	103	-1	579	1,722	1,530	1,489	611	910	1,912	1,550	2,068	2,251
Enterprise Value Low	76	103	-1	451	1,139	1,138	1,180	-356	153	1,281	771	875	1,173

	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	23	23	23	24	31	31	31	47	48	47	47	47	52
Diluted Weighted Avg Shares	24	24	24	19	28	31	31	38	48	47	47	47	50
Basic Weighted Avg Shares	24	24	24	19	28	31	31	38	47	47	47	47	50
Revenue per Share	4.87	5.59	7.65	13.34	10.67	10.91	11.71	15.08	12.14	11.19	10.21	9.75	11.28
EBITDA per Share	0.19	0.21	0.32	0.75	0.23	0.25	0.31	0.34	0.29	0.27	0.32	0.32	0.35
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	1.12	1.35	2	2.12	1.9	2.62	2.72	1.69	4.01	2.64	2.57	2.48	2.47
Basic EPS from Cont Ops	1.12	1.35	2	2.12	1.9	2.62	2.72	1.69	4.01	2.64	2.57	2.48	2.47
Diluted EPS, GAAP	1.12	1.35	2	2.1	1.86	2.56	2.67	1.67	3.97	2.64	2.57	2.48	2.45
Diluted EPS from Cont Ops	1.12	1.35	2	2.1	1.86	2.56	2.67	1.67	3.97	2.64	2.57	2.48	2.45
Dividend per Share	0.47	0.62	1.06	3.62	- -	0.2	0.33	0.38	0.44	0.52	0.6	0.68	0.76
Cash Flow per Share	2.54	-4.4	-1.91	-12.79	1.36	6.92	2.07	-7.18	1.16	16.97	4.51	2.97	3.13
Free Cash Flow per Basic Share	2.3	-4.63	-2.16	-13.04	1.2	6.59	1.85	-7.33	1.03	16.75	4.08	2.83	2.96
Cash & Equivalents per Share	31.15	28.92	30.25	36.81	21.35	24.44	25.59	62.97	70.59	48.56	36.46	37.3	31.27
Book Value per Share	4.15	4.81	5.82	6.15	6.44	8.21	10.51	9.7	11.26	13.44	15.5	17.31	18.06
Tangible Book Value per Share	5.74	6.62	6.39	12.77	13.27	14.11	16.14	25.13	22.29	19.15	22.21	24.73	28.48

FB Financial Corporation

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)