First Bancshares, Inc. Financial Ratios — FBSI Stock

Profitability (USD)

	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	4.77	-0.62	0.98	1.29	-15.44	-6.37	-19.99	13.87	13.73	13.53	15.42	14.08	15.72	13.55	13.92
Return on Assets (%)	0.52	-0.07	0.12	0.15	-1.68	-0.67	-1.95	1.08	1.02	1.04	1.19	1.15	1.33	1.22	1.38
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	2.34	- -	- -	0.74	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	19.04	5.41	11.09	12.6	-50.73	1.68	-80.73	4.79	4.4	5.18	4.31	3.91	3.15	2.97	2.23
Operating Margin (%)	12.03	-3.14	1.78	4.2	-58.13	-4.68	-94.31	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	-355.6	- -	156.73	17.29	- -	- -	- -	47.94	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	12.03	-3.14	1.78	4.2	-58.13	-4.68	-76.57	29.37	32.17	33.91	37.22	36.69	39.39	36.86	38.66
Profit Margin (%)	11.88	-2.06	3.13	3.53	-42.14	-15.67	-89.2	21.86	24.16	26.02	28.25	27.16	29.72	27.98	29.17
Net Income to Common Margin (%)	11.88	-2.06	3.13	3.53	-42.14	-15.67	-89.2	21.86	24.16	26.02	28.25	27.16	29.72	27.98	29.17
Effective Tax Rate (%)	1.18	- -	- -	15.93	- -	- -	- -	25.55	24.9	23.28	24.1	26	24.55	24.09	24.55
Dvd Payout Ratio (%)	19.25	-143.77	45.67	- -	-3.84	- -	- -	- -	17.06	16.28	12.83	13.87	10.89	12.92	12.74
Sustainable Growth Rate (%)	3.85	-1.51	0.53	1.29	-16.03	-6.37	-19.99	13.87	11.39	11.32	13.44	12.12	14.01	11.8	12.15

Credit (USD)

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	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	29	22	22	22	10	8	9	7	3	3	3	- -	22	- -	8
ST Debt	1	- -	- -	- -	- -	5	6	- -	- -	- -	2	- -	11	- -	- -
LT Debt	28	22	22	22	10	3	3	7	3	3	2	- -	11	- -	8
Total Debt/EBITDA	13.78	48.38	22.87	16.99	-2.06	52.37	-2.54	9.95	4.61	3.82	3.86	- -	30.89	- -	12.88
Net Debt/EBITDA	2.6	-11.66	0.23	3.42	4.5	-119.46	4.94	-22.97	-27.48	-79.43	-34.48	-14.54	17.81	-38.21	-17.13
Total Debt/EBIT	21.82	-83.31	142.44	50.92	-1.8	-18.85	-2.17	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	4.11	20.07	1.44	10.24	3.92	42.99	4.23	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	11.54	12.14	11.55	11.33	10.46	10.66	8.82	7.11	7.8	7.58	7.89	8.44	8.44	9.56	10.29
Long-Term Debt/Equity (%)	105.88	83.68	83.12	81.18	42.08	13.27	16.61	19.24	7.97	7.02	3.4	- -	20.53	- -	11.33
Long-Term Debt/Capital (%)	49.62	44.24	44.11	43.79	29.37	9.7	10.76	20.95	9.84	8.87	3.92	- -	16.25	- -	11.44
Long-Term Debt/Total Assets (%)	11.64	9.63	9.12	8.83	4.35	1.42	1.43	1.89	0.85	0.74	0.34	- -	2.03	- -	1.33
Total Debt/Equity (%)	108.42	83.68	83.12	81.18	42.08	36.94	52.13	19.24	7.97	7.02	6.79	- -	41.05	- -	11.33
Total Debt/Capital (%)	50.8	44.24	44.11	43.79	29.37	27.01	33.77	20.95	9.84	8.87	7.84	- -	32.5	- -	11.44
Total Debt/Total Assets (%)	11.92	9.63	9.12	8.83	4.35	3.95	4.5	1.89	0.85	0.74	0.67	- -	4.06	- -	1.33
Net Debt to Equity	20.44	-20.16	0.84	16.32	-91.93	-84.26	-101.43	-44.41	-47.5	-145.96	-60.64	-23.22	23.66	-44.86	-15.07
Net Debt/Capital (%)	16.3	-23.63	0.79	13.54	-990.32	-541.9	-12,686.94	-157.57	-185.95	197.5	-315.84	-38.43	21.73	-108.21	-20.74
EBITDA	2	- -	1	1	-5	- -	-4	1	1	1	1	1	1	1	1
EBITDA-CapEx	2	- -	1	1	-5	- -	-4	1	- -	-1	-1	- -	1	1	1
Operating Income (Loss)	1	- -	- -	- -	-6	- -	-4	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 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	11.54	12.14	11.55	11.33	10.46	10.66	8.82	7.11	7.8	7.58	7.89	8.44	8.44	9.56	10.29
Long-Term Debt/Equity (%)	105.88	83.68	83.12	81.18	42.08	13.27	16.61	19.24	7.97	7.02	3.4	- -	20.53	- -	11.33
Long-Term Debt/Capital (%)	49.62	44.24	44.11	43.79	29.37	9.7	10.76	20.95	9.84	8.87	3.92	- -	16.25	- -	11.44
Long-Term Debt/Total Assets (%)	11.64	9.63	9.12	8.83	4.35	1.42	1.43	1.89	0.85	0.74	0.34	- -	2.03	- -	1.33
Total Debt/Equity (%)	108.42	83.68	83.12	81.18	42.08	36.94	52.13	19.24	7.97	7.02	6.79	- -	41.05	- -	11.33
Total Debt/Capital (%)	50.8	44.24	44.11	43.79	29.37	27.01	33.77	20.95	9.84	8.87	7.84	- -	32.5	- -	11.44
Total Debt/Total Assets (%)	11.92	9.63	9.12	8.83	4.35	3.95	4.5	1.89	0.85	0.74	0.67	- -	4.06	- -	1.33
CFO/Total Liabilities	1.36	1.3	0.48	1.64	0.43	0.71	0.54	1.59	1.31	0.72	1.85	1.11	1.61	1.29	1.8
CFO/CapEx	- -	- -	- -	7.73	1.76	4.95	2.42	40.3	8.74	1.96	4.99	7.32	- -	- -	- -
Altman's Z-Score	0.3	0.27	0.26	0.26	0.16	0.23	0.11	0.2	0.22	0.2	0.21	0.22	0.23	0.25	0.19

Working Capital (USD)

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	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	7.6	6.69	7.12	8.58	9.16	10.67	5.75	35.05	- -	- -	- -	- -	- -	- -	- -
Days Sales Outstanding	48.06	54.56	51.27	42.53	39.84	34.2	63.44	10.41	- -	- -	- -	- -	- -	- -	- -
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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	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	27	23	22	19	17	13	11	32	37	32	43	45	55	59	- -
- Cash & Cash Equivalents	24	27	22	18	32	27	28	22	21	65	30	11	9	27	17
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	29	22	22	22	10	8	9	7	3	3	3	- -	22	- -	8
Enterprise Value	32	18	23	24	-5	-6	-8	-24	-21	-51	2	22	55	20	-16
Total Capital	57	50	50	50	34	31	28	31	31	34	38	40	68	51	66
Total Debt/Capital (%)	50.8	44.24	44.11	43.79	29.37	27.01	33.77	20.95	9.84	8.87	7.84	- -	32.5	- -	11.44
Total Debt / EV	0.91	1.21	0.97	0.93	-1.89	-1.31	-1.21	-0.27	-0.15	-0.06	1.89	- -	0.4	- -	-0.48
EV/Sales	2.89	2.16	2.62	2.29	- -	- -	- -	- -	- -	- -	0.09	1.11	2.43	0.84	- -
EV/EBITDA	15.16	39.93	23.59	18.18	- -	- -	- -	- -	- -	- -	2.04	28.35	77.15	28.12	- -
EV/EBIT	24.01	- -	146.95	54.49	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	10.8	6.92	22.11	6.45	- -	- -	- -	- -	- -	- -	0.21	4.58	6.98	3.19	- -
EV/Free Cash Flow to Firm	10.8	6.92	22.11	5.71	- -	- -	- -	- -	- -	- -	0.18	4.03	6.98	3.19	- -
Diluted Market Cap	27	23	22	19	17	13	11	32	37	32	43	45	55	59	- -
Diluted Enterprise Value	32	18	23	24	-5	-6	-8	17	19	-30	16	34	68	33	-10
EV per Share	20.16	11.56	15.03	15.18	- -	- -	- -	- -	- -	- -	0.61	8.81	22.65	8.28	- -
TTM Sales	11	8	9	10	10	9	5	14	15	15	18	19	23	24	26
TTM EBITDA	2	- -	1	1	-5	- -	-4	1	1	1	1	1	1	1	1
TTM Operating Income	1	- -	- -	- -	-6	- -	-4	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	3	3	1	4	1	1	1	5	4	3	7	5	8	6	9
TTM Free Cash Flow to Firm	3	3	1	4	1	2	1	5	5	4	9	5	8	6	9

Multiples (USD)

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	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	8.95	8.94	21.9	4.64	11.94	7.87	7.2	6.39	8	8.14	4.77	8.44	6.99	9.62	- -
EV/EBIT	24.01	- -	146.95	54.49	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	32	18	23	24	-5	-6	-8	-24	-21	-51	2	22	55	20	-16
Low Price	18.25	15.95	15.1	11.57	6.83	6.8	5.12	10.8	13.5	11.05	11.25	16.36	18.8	23	24.1
EV/Sales	2.89	2.16	2.62	2.29	- -	- -	- -	- -	- -	- -	0.09	1.11	2.43	0.84	- -
EV/EBITDA	15.16	39.93	23.59	18.18	- -	- -	- -	- -	- -	- -	2.04	28.35	77.15	28.12	- -
Price/Earnings	20.13	- -	82.67	52.64	- -	- -	- -	10.84	10.32	8.19	8.36	8.55	8.19	9.03	- -
Price/Earnings Average	21.54	-143.12	83.77	60.78	-4.48	-8.56	-2.41	9.88	9.88	8.71	7.37	7.94	7.75	9.27	- -
Price/Earnings High	27.41	-183.91	99.94	78.56	-6.53	-13.04	-3.4	13.68	23.4	11.05	8.75	9.26	9.2	11.62	- -
Price/Earnings Low	21.99	-145	83.89	49.4	-2.62	-7.11	-1.94	9.23	9.57	7.42	5.74	7.57	6.79	8.3	- -
Price/Book Value	0.94	0.85	0.81	0.68	0.69	0.56	0.57	1.32	1.34	1.05	1.21	1.13	1.2	1.15	- -
Price/Book Value Average	1.01	0.89	0.82	0.78	0.75	0.56	0.54	1.2	1.28	1.12	1.06	1.05	1.14	1.19	- -
Price/Book Value High	1.28	1.15	0.97	1.01	1.1	0.86	0.76	1.66	3.04	1.41	1.26	1.23	1.35	1.49	- -
Price/Book Value Low	1.03	0.9	0.82	0.64	0.44	0.47	0.43	1.12	1.24	0.95	0.83	1.01	1	1.06	- -
Price/Tangible Book Value	1	0.9	0.86	0.71	0.7	0.56	0.59	1.03	1.04	0.79	1.01	0.99	1.06	1.02	- -
Price/Tangible Book Value Average	1.07	0.95	0.87	0.82	0.77	0.57	0.55	0.94	1	0.85	0.89	0.92	1	1.05	- -
Price/Tangible Book Value High	1.37	1.22	1.04	1.06	1.12	0.86	0.78	1.3	2.36	1.07	1.06	1.07	1.19	1.32	- -
Price/Tangible Book Value Low	1.1	0.97	0.87	0.67	0.45	0.47	0.44	0.88	0.97	0.72	0.69	0.87	0.88	0.94	- -
Price/Sales	2.39	2.79	2.59	1.86	1.73	1.34	2.29	2.37	2.49	2.13	2.36	2.32	2.43	2.53	- -
Price/Sales Average	2.56	2.94	2.63	2.15	1.89	1.34	2.15	2.16	2.39	2.27	2.08	2.16	2.3	2.59	- -
Price/Sales High	3.26	3.78	3.13	2.78	2.75	2.04	3.04	2.99	5.65	2.87	2.47	2.51	2.73	3.25	- -
Price/Sales Low	2.61	2.98	2.63	1.75	1.11	1.11	1.73	2.02	2.31	1.93	1.62	2.06	2.02	2.32	- -
Price/Cash Flow	8.95	8.94	21.9	5.23	18.72	9.46	10.17	6.55	8.92	12.29	5.72	9.6	6.99	9.62	- -
Price/Cash Flow Average	9.57	9.43	22.19	6.04	20.46	9.5	9.53	5.97	8.54	13.07	5.05	8.92	6.61	9.88	- -
Price/Cash Flow High	12.18	12.12	26.47	7.81	29.83	14.47	13.46	8.26	20.23	16.57	5.99	10.4	7.86	12.39	- -
Price/Cash Flow Low	9.77	9.55	22.22	4.91	11.98	7.89	7.66	5.58	8.27	11.12	3.93	8.51	5.79	8.85	- -
Price/Free Cash Flow Average	9.57	9.43	22.19	5.35	13.05	7.9	6.75	5.83	7.66	8.66	4.2	7.85	6.61	9.88	- -
Price/Free Cash Flow High	12.18	12.12	26.47	6.92	19.02	12.04	9.53	8.06	18.15	10.98	4.99	9.15	7.86	12.39	- -
Price/Free Cash Flow Low	9.77	9.55	22.22	4.35	7.64	6.56	5.42	5.44	7.42	7.37	3.27	7.48	5.79	8.85	- -
EV/Sales Average	3.05	2.31	2.65	2.58	- -	- -	- -	1.06	1.18	- -	0.6	1.59	2.86	1.46	- -
EV/Sales High	3.75	3.15	3.16	3.21	0.47	0.03	- -	1.89	4.44	- -	0.99	1.95	3.3	2.12	- -
EV/Sales Low	3.11	2.35	2.65	2.18	- -	- -	- -	0.92	1.1	- -	0.14	1.49	2.58	1.19	- -
EV/EBITDA Average	16.04	42.74	23.9	20.46	0.77	-39.83	2.27	22.11	26.74	-35.69	13.83	40.67	90.92	48.99	-17.13
EV/EBITDA High	19.71	58.24	28.47	25.45	-0.93	1.9	1.18	39.42	100.97	-23.98	22.9	49.82	104.65	71.13	-17.13
EV/EBITDA Low	16.32	43.45	23.94	17.27	2.32	-53.34	2.8	19.14	25.07	-42.2	3.16	38.11	81.86	39.89	-17.13
EV/EBIT Average	25.4	-73.6	148.88	61.34	0.68	14.33	1.95	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	31.2	-100.29	177.36	76.28	-0.81	-0.68	1.01	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	25.84	-74.83	149.1	51.77	2.02	19.19	2.39	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	16.71	14.93	14.88	12.33	10.67	8.16	6.8	12.68	14.55	12.21	16.38	18.46	22.68	25	33.57
High Price	22.75	20.23	17.99	18.4	17	12.48	9	16	33	16.46	17.15	20	25.49	32.2	35.96
Enterprise Value Average	34	19	23	27	-4	-6	-8	14	17	-28	11	31	65	34	-10
Enterprise Value High	42	26	27	33	5	- -	-4	26	66	-19	18	38	75	50	-10
Enterprise Value Low	34	20	23	22	-11	-9	-10	13	16	-33	2	29	58	28	-10

	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 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
Diluted Weighted Avg Shares	2	2	2	2	2	2	2	3	3	3	3	2	2	2	- -
Basic Weighted Avg Shares	2	2	2	2	2	2	2	3	3	3	3	2	2	2	- -
Revenue per Share	6.98	5.35	5.74	6.63	6.18	6.11	2.96	5.35	5.84	5.73	6.94	7.95	9.32	9.9	- -
EBITDA per Share	1.33	0.29	0.64	0.84	-3.13	0.1	-2.39	0.26	0.26	0.3	0.3	0.31	0.29	0.29	- -
Operating Income per Share	0.84	-0.17	0.1	0.28	-3.59	-0.29	-2.8	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	0.83	-0.11	0.18	0.23	-2.6	-0.96	-2.64	1.17	1.41	1.49	1.96	2.16	2.77	2.77	- -
Basic EPS from Cont Ops	0.83	-0.11	0.18	0.23	-2.6	-0.96	-2.64	1.17	1.41	1.49	1.96	2.16	2.77	2.77	- -
Diluted EPS, GAAP	0.83	-0.11	0.18	0.23	-2.6	-0.96	-2.64	1.17	1.41	1.49	1.96	2.16	2.77	2.77	- -
Diluted EPS from Cont Ops	0.83	-0.11	0.18	0.23	-2.6	-0.96	-2.64	1.17	1.41	1.49	1.96	2.16	2.77	2.77	- -
Dividend per Share	0.16	0.16	0.08	- -	0.1	- -	- -	- -	0.24	0.24	0.25	0.3	0.3	0.36	- -
Cash Flow per Share	1.87	1.67	0.68	2.36	0.57	0.86	0.67	1.94	1.63	0.99	2.86	1.92	3.24	2.6	- -
Free Cash Flow per Basic Share	1.87	1.67	0.68	2.05	0.25	0.69	0.39	1.89	1.44	0.49	2.29	1.66	3.24	2.6	- -
Cash & Equivalents per Share	14.87	17.38	14.42	11.33	20.53	17.67	17.89	24.74	23.9	32.62	16.93	9.65	9.1	16.72	- -
Book Value per Share	17.74	17.65	18.46	18.21	15.51	14.55	11.91	9.63	10.85	11.64	13.57	16.28	18.83	21.65	- -
Tangible Book Value per Share	16.66	16.52	17.34	17.32	15.2	14.49	11.59	12.34	13.98	15.37	16.25	18.72	21.41	24.44	- -

First Bancshares, Inc.

Profitability (USD)

Credit (USD)

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Working Capital (USD)

Enterprise Value (USD)

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Per Share Data Items (USD)