Alpine Income Property Trust, Inc. Financial Ratios — H3Y

Profitability (USD)

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	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 (%)	- -	3.28	- -	0.75	6.16	12.97	1.14	0.82	-1.2
Return on Assets (%)	- -	3.18	- -	0.46	2.6	5.51	0.51	0.35	-0.4
Return on Capital (%)	- -	3.24	- -	1	3.11	6.43	2.13	2.3	- -
Return on Invested Capital (%)	- -	3.24	- -	1.24	3.99	8.13	2.33	2.45	- -
Gross Margin (%)	82.63	86.18	- -	74.7	77.25	79.5	76.04	76.96	79.55
EBITDA Margin (%)	70.85	74.12	- -	64.69	102.38	147.64	84.31	74.85	65.93
Operating Margin (%)	36.66	34.26	- -	12.07	18.21	23.03	15.35	23.48	30.54
Incremental Operating Margin (%)	- -	28.05	- -	- -	29.09	32.67	- -	79.9	74.88
Pretax Margin (%)	33.27	34.26	- -	5.95	38.05	75.14	7.16	4.32	-4.77
Profit Margin (%)	33.27	34.26	- -	5.12	33.07	65.77	6.39	3.96	-4.39
Net Income to Common Margin (%)	33.27	34.26	- -	5.12	33.07	65.77	6.39	3.96	-5.3
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	551.11	93.86	39.58	471.95	687.43	-484.01
Sustainable Growth Rate (%)	- -	3.28	- -	-3.36	0.38	7.84	-4.24	-4.82	-7.03

Credit (USD)

Credit Ratios API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	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	2	2	2	110	273	274	282	309	386
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	2	2	2	110	273	274	282	309	386
Total Debt/EBITDA	0.29	0.2	- -	8.84	8.86	4.1	7.33	7.92	9.67
Net Debt/EBITDA	- -	- -	- -	8.43	8.39	3.87	7.06	7.67	9.35
Total Debt/EBIT	0.57	0.43	- -	42.19	18.02	6.3	21.46	22.08	29.37
Net Debt/EBIT	- -	- -	- -	40.2	17.07	5.94	20.67	21.4	28.4
EBITDA to Interest Expense	20.93	- -	- -	9.76	9.23	7.46	4.07	3.46	2.58
EBITDA-CapEx/Interest Expense	20.93	- -	- -	9.76	9.23	7.46	4.07	3.46	2.58
EBIT to Interest Expense	10.83	- -	- -	1.82	1.64	1.16	0.74	1.09	1.19
Interest Expense	- -	- -	- -	1	3	9	9	11	15
Common Equity/Total Assets	95.56	98.13	83.77	48.34	38.88	45.62	44.41	41.82	39.09
Long-Term Debt/Equity (%)	1.46	1.38	1.19	73.85	119.88	92.7	102.33	111.93	128.06
Long-Term Debt/Capital (%)	1.44	1.36	1.17	42.48	54.52	48.11	50.58	52.81	56.15
Long-Term Debt/Total Assets (%)	1.4	1.35	1.16	41.99	54.05	47.75	49.96	51.15	53.89
Total Debt/Equity (%)	1.46	1.38	1.19	73.85	119.88	92.7	102.33	111.93	128.06
Total Debt/Capital (%)	1.44	1.36	1.17	42.48	54.52	48.11	50.58	52.81	56.15
Total Debt/Total Assets (%)	1.4	1.35	1.16	41.99	54.05	47.75	49.96	51.15	53.89
Net Debt to Equity	-0.01	-0.01	-7.68	70.37	113.6	87.38	98.57	108.46	123.86
Net Debt/Capital (%)	-0.01	-0.01	-8.21	40.77	52.59	46.07	49.07	51.32	54.68
EBITDA	6	9	- -	12	31	67	38	39	40
EBITDA-CapEx	6	9	- -	12	31	67	38	39	40
Operating Income (Loss)	3	4	- -	2	5	10	7	12	18

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	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	7.91	0.74	2.1	2.23	0.65	0.23	0.26
Current Ratio	- -	0.01	8.36	1.13	2.8	3.71	8.92	14.87	12.12
Quick Ratio	- -	0.01	7.91	0.85	2.41	2.52	6.48	13.47	9.72
CFO/Avg Current Liab	- -	2.51	- -	4.56	5.07	5.97	4.54	3.59	2.09
Common Equity/Total Assets	95.56	98.13	83.77	48.34	38.88	45.62	44.41	41.82	39.09
Long-Term Debt/Equity (%)	1.46	1.38	1.19	73.85	119.88	92.7	102.33	111.93	128.06
Long-Term Debt/Capital (%)	1.44	1.36	1.17	42.48	54.52	48.11	50.58	52.81	56.15
Long-Term Debt/Total Assets (%)	1.4	1.35	1.16	41.99	54.05	47.75	49.96	51.15	53.89
Total Debt/Equity (%)	1.46	1.38	1.19	73.85	119.88	92.7	102.33	111.93	128.06
Total Debt/Capital (%)	1.44	1.36	1.17	42.48	54.52	48.11	50.58	52.81	56.15
Total Debt/Total Assets (%)	1.4	1.35	1.16	41.99	54.05	47.75	49.96	51.15	53.89
CFO/Total Liabilities	94.33	238.16	- -	8.3	6.2	8.87	8.02	7.13	6.21
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	- -	- -	- -	- -	- -	- -	- -	- -	- -

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	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	- -	- -	- -	- -	- -	- -	46.08	44.91	50.32
Days Sales Outstanding	- -	- -	- -	- -	- -	- -	7.92	8.13	7.25
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)

Enterprise Value API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	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	- -	- -	- -	- -	- -	- -	- -	- -	237
- Cash & Cash Equivalents	- -	- -	12	2	9	9	4	2	5
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	23	22	31	34	25	23	21
+ Total Debt	2	2	2	110	273	274	282	309	386
Enterprise Value	- -	- -	- -	- -	- -	- -	- -	- -	640
Total Capital	122	126	163	259	501	569	558	586	687
Total Debt/Capital (%)	1.44	1.36	1.17	42.48	54.52	48.11	50.58	52.81	56.15
Total Debt / EV	- -	- -	- -	- -	- -	- -	- -	- -	0.6
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	10.57
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	16.03
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	48.7
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	250
Diluted Enterprise Value	- -	- -	- -	- -	- -	- -	- -	- -	652
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	44.05
TTM Sales	8	12	- -	19	30	45	46	52	61
TTM EBITDA	6	9	- -	12	31	67	38	39	40
TTM Operating Income	3	4	- -	2	5	10	7	12	18
TTM Cash Flow to Firm	6	6	- -	11	21	34	33	35	- -
TTM Free Cash Flow to Firm	6	6	- -	11	21	34	33	35	- -

Multiples (USD)

Valuation Multiples API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	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	- -	- -	- -	- -	- -	- -	- -	- -	9.69
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	48.7
Enterprise Value	- -	- -	- -	- -	- -	- -	- -	- -	640
Low Price	- -	- -	- -	- -	- -	- -	- -	- -	14.77
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	10.57
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	16.03
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value	- -	- -	- -	- -	- -	- -	- -	- -	0.85
Price/Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	0.86
Price/Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	0.94
Price/Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	0.77
Price/Tangible Book Value	- -	- -	- -	- -	- -	- -	- -	- -	1.03
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	1.04
Price/Tangible Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	1.14
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	0.93
Price/Sales	- -	- -	- -	- -	- -	- -	- -	- -	3.8
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	3.86
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	4.2
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	3.44
Price/Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	8.93
Price/Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	9.07
Price/Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	9.88
Price/Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	8.08
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	9.85
Price/Free Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	10.72
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	8.77
EV/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	10.63
EV/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	10.99
EV/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	10.2
EV/EBITDA Average	- -	- -	- -	- -	- -	- -	- -	- -	16.13
EV/EBITDA High	- -	- -	- -	- -	- -	- -	- -	- -	16.67
EV/EBITDA Low	- -	- -	- -	- -	- -	- -	- -	- -	15.47
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	48.99
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	50.62
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	46.98
Last Price	- -	- -	- -	- -	- -	- -	- -	- -	16.33
High Price	- -	- -	- -	- -	- -	- -	- -	- -	18.07
Enterprise Value Average	- -	- -	- -	- -	- -	- -	- -	- -	644
Enterprise Value High	- -	- -	- -	- -	- -	- -	- -	- -	665
Enterprise Value Low	- -	- -	- -	- -	- -	- -	- -	- -	617

Per Share Data Items (USD)

Per-Share Data API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	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

Shares Outstanding	8	8	8	7	11	13	13	14	15
Diluted Weighted Avg Shares	9	9	7	9	11	13	15	15	15
Basic Weighted Avg Shares	8	8	7	7	10	12	14	14	14
Revenue per Share	1.09	1.51	- -	2.58	3.14	3.84	3.34	3.84	4.3
EBITDA per Share	0.77	1.12	- -	1.67	3.21	5.67	2.81	2.87	2.83
Operating Income per Share	0.4	0.52	- -	0.31	0.57	0.88	0.51	0.9	1.31
Basic EPS, GAAP	0.36	0.52	- -	0.13	1.04	2.53	0.21	0.15	-0.23
Basic EPS from Cont Ops	0.36	0.52	- -	0.15	1.19	2.89	0.24	0.17	-0.2
Diluted EPS, GAAP	0.31	0.45	- -	0.11	0.9	2.21	0.19	0.14	-0.21
Diluted EPS from Cont Ops	0.31	0.45	- -	0.13	1.04	2.53	0.21	0.15	-0.19
Dividend per Share	- -	- -	- -	0.97	1.27	1.28	1.25	1.23	1.3
Cash Flow per Share	0.68	0.72	- -	1.26	1.79	2.1	1.69	1.72	1.83
Free Cash Flow per Basic Share	0.68	0.72	- -	1.26	1.79	2.1	1.69	1.72	1.83
Cash & Equivalents per Share	- -	- -	1.59	0.26	0.79	0.69	0.3	0.11	0.32
Book Value per Share	15.54	16.04	17.71	17.3	17.46	19.88	18.68	17.53	19.27
Tangible Book Value per Share	14.05	14.67	14.83	12.27	12.24	15.29	15.01	14.49	15.9