Federal Screw Works Financial Ratios — FSCR Stock

Profitability (USD)

	1990 Y	1991 Y	1992 Y	1993 Y	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y
Return on Common Equity (%)	10.6	-0.96	9.55	8.99	11.27	15.73	14.67	20.87	19.38	17.71	18.62	8.25	7.81	5.74	2.22
Return on Assets (%)	4.94	-0.46	4.45	4.16	5.29	7.36	7	10.86	10.9	10.28	10.9	4.79	4.46	3.35	1.24
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	8.96	- -	7.55	7.27	8.92	12.61	11.97	17.91	17.72	16.19	14.41	7.44	4.77	5.25	1.92
Gross Margin (%)	16.15	11.38	15.09	13.41	14.62	16.57	16.81	20.45	20.58	19.98	19.64	12.18	11.16	11.35	7.8
EBITDA Margin (%)	6.21	0.35	8.73	7.93	8.92	11.16	11.85	14.7	15.06	14.42	14.1	11.38	11.13	12.11	9.17
Operating Margin (%)	6.21	0.35	5.18	4.65	5.45	7.73	7.97	10.91	11.13	10.54	10.07	6.54	4.91	5.25	1.85
Incremental Operating Margin (%)	22.99	52.05	31.43	-1.82	13.16	26.53	17.39	38.38	16.67	5.13	-7.45	33.58	21.42	-267.28	70.61
Pretax Margin (%)	4.97	-0.7	4.44	3.97	4.96	6.96	7.11	10.52	11.04	10.46	12.06	6.49	6.88	5.14	1.87
Profit Margin (%)	3.42	-0.35	2.96	2.74	3.35	4.64	4.74	7.01	7.3	6.91	8.01	4.38	4.72	3.46	1.38
Net Income to Common Margin (%)	3.42	-0.35	2.96	2.74	3.35	4.64	4.74	7.01	7.3	6.91	8.01	4.38	4.72	3.46	1.38
Effective Tax Rate (%)	31.25	- -	33.33	31.03	32.5	33.33	33.33	33.33	33.9	33.87	33.63	32.45	31.44	32.66	26.48
Dvd Payout Ratio (%)	- -	- -	20	35	25.93	21.43	27.27	18.06	28.21	29.27	25.3	52.7	31.13	42.14	80.71
Sustainable Growth Rate (%)	10.6	-0.96	7.64	5.84	8.35	12.36	10.67	17.1	13.91	12.53	13.91	3.9	5.38	3.32	0.43

Credit (USD)

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	1990 Y	1991 Y	1992 Y	1993 Y	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y
Total Debt	7	7	7	7	6	9	8	1	1	2	- -	7	6	6	8
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	6	6	7	6	6	9	8	1	- -	2	- -	7	6	6	8
Total Debt/EBITDA	1.65	33	1.24	1.17	0.89	0.9	0.76	0.07	0.06	0.13	- -	0.56	0.6	0.49	0.99
Net Debt/EBITDA	1.35	27	1	0.97	0.69	0.86	0.69	-0.01	-0.01	0.12	-0.09	0.55	0.58	0.46	0.97
Total Debt/EBIT	1.65	33	2.09	2	1.45	1.3	1.14	0.09	0.08	0.18	- -	0.97	1.35	1.13	4.94
Net Debt/EBIT	1.35	27	1.69	1.65	1.14	1.24	1.03	-0.02	-0.01	0.16	-0.13	0.96	1.31	1.05	4.84
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	48.63	47.43	45.96	46.54	47.26	46.33	49.07	54.84	57.54	58.44	58.67	57.57	56.62	60.31	52.26
Long-Term Debt/Equity (%)	25.73	26.5	28.16	24.71	21.82	28.06	23.6	1.5	1.07	4.03	- -	11.14	10.34	10.31	13.96
Long-Term Debt/Capital (%)	22.22	23.05	23.88	21.55	19.11	23.2	20	1.56	1.14	4.05	- -	10.52	9.83	9.07	12.89
Long-Term Debt/Total Assets (%)	14.16	14.49	14.68	13.01	11.34	14.19	12.42	0.88	0.67	2.48	- -	6.77	6.17	6.01	7.74
Total Debt/Equity (%)	27.39	28.21	29.8	26.25	23.27	29.35	24.78	2.49	1.92	4.41	- -	11.14	10.34	10.31	13.96
Total Debt/Capital (%)	23.66	24.54	25.26	22.9	20.38	24.27	21	2.6	2.05	4.44	- -	10.52	9.83	9.07	12.89
Total Debt/Total Assets (%)	15.07	15.42	15.53	13.82	12.1	14.85	13.04	1.47	1.2	2.72	- -	6.77	6.17	6.01	7.74
Net Debt to Equity	22.41	23.08	24.08	21.62	18.18	28.06	22.42	-0.5	-0.21	3.84	-2.63	10.98	10.02	9.55	13.69
Net Debt/Capital (%)	20.22	21.01	21.45	19.65	16.67	23.45	19.39	-0.54	-0.23	3.88	-2.87	10.38	9.55	8.46	12.68
EBITDA	4	- -	6	6	7	10	11	15	16	17	17	12	11	12	8
EBITDA-CapEx	4	- -	1	1	1	3	5	8	8	9	7	- -	3	6	-1
Operating Income (Loss)	4	- -	4	3	4	7	7	11	12	12	12	7	5	5	2

Liquidity (USD)

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	1990 Y	1991 Y	1992 Y	1993 Y	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y
Cash Ratio	0.17	0.19	0.16	0.12	0.12	0.03	0.07	0.07	0.06	0.02	0.09	0.01	0.01	0.04	0.01
Current Ratio	2.79	2.72	2.17	2.01	1.81	1.91	2.18	1.58	1.77	2.07	1.97	2.58	2.51	2.63	2.75
Quick Ratio	1.32	1.36	1.07	1.07	0.95	0.83	1.02	0.81	0.82	1.03	1.05	1.11	1.12	1.25	1.3
CFO/Avg Current Liab	- -	- -	0.68	0.54	0.66	0.37	0.65	1.15	0.66	0.55	0.78	0.45	0.9	0.88	0.73
Common Equity/Total Assets	48.63	47.43	45.96	46.54	47.26	46.33	49.07	54.84	57.54	58.44	58.67	57.57	56.62	60.31	52.26
Long-Term Debt/Equity (%)	25.73	26.5	28.16	24.71	21.82	28.06	23.6	1.5	1.07	4.03	- -	11.14	10.34	10.31	13.96
Long-Term Debt/Capital (%)	22.22	23.05	23.88	21.55	19.11	23.2	20	1.56	1.14	4.05	- -	10.52	9.83	9.07	12.89
Long-Term Debt/Total Assets (%)	14.16	14.49	14.68	13.01	11.34	14.19	12.42	0.88	0.67	2.48	- -	6.77	6.17	6.01	7.74
Total Debt/Equity (%)	27.39	28.21	29.8	26.25	23.27	29.35	24.78	2.49	1.92	4.41	- -	11.14	10.34	10.31	13.96
Total Debt/Capital (%)	23.66	24.54	25.26	22.9	20.38	24.27	21	2.6	2.05	4.44	- -	10.52	9.83	9.07	12.89
Total Debt/Total Assets (%)	15.07	15.42	15.53	13.82	12.1	14.85	13.04	1.47	1.2	2.72	- -	6.77	6.17	6.01	7.74
CFO/Total Liabilities	- -	- -	23.11	21.46	27.56	14.52	25.9	56.58	37.37	26.07	36.15	17.5	28.28	28.14	17.99
CFO/CapEx	- -	- -	1.04	1.14	1.13	0.59	1.39	2.3	1.25	1.09	1.29	0.55	1.55	1.94	0.95
Altman's Z-Score	3.45	2.84	3.18	3.23	3.26	3.33	3.43	4.18	4.15	3.97	3.52	3.04	2.8	3.11	2.51

Working Capital (USD)

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	1990 Y	1991 Y	1992 Y	1993 Y	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y
Accounts Receivable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	15.32	6.63	6.56	6.18
Days Sales Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	23.82	55.03	55.62	59.06
Inventory Turnover	4.89	5.65	6.79	7.45	8.15	6.89	6.1	6.98	6.99	6.78	6.54	5.79	4.9	5.27	5.52
Days Inventory Outstanding	74.69	64.56	53.73	49.01	44.76	52.94	59.81	52.27	52.23	53.85	55.77	62.99	74.47	69.28	66.15
Accounts Payable Turnover	- -	- -	46.64	23.15	23.59	20.73	19.82	19.21	17.02	21.73	17.11	15.32	16.49	16.99	16.78
Accounts Payable Turnover Days	- -	- -	7.83	15.77	15.47	17.61	18.42	19	21.45	16.8	21.33	23.83	22.14	21.48	21.75
Cash Conversion Cycle	74.69	64.56	45.91	33.24	29.29	35.33	41.39	33.27	30.79	37.05	34.43	62.99	107.36	103.41	103.46
Inventory to Cash Days	-74.69	-64.56	-53.73	-49.01	-44.76	-52.94	-59.81	-52.27	-52.23	-53.85	-55.77	-39.17	-19.44	-13.67	-7.09
Inventories	10	8	9	8	9	13	12	11	13	15	15	17	18	15	16
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2	2	1	2
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	7	7	7	9
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	9	9	7	5
Other Inventory	10	8	9	8	9	13	12	11	13	15	15	- -	- -	- -	- -

Enterprise Value (USD)

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	1990 Y	1991 Y	1992 Y	1993 Y	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y
Market Capitalization	13	10	15	17	18	24	28	51	54	54	44	45	49	54	52
- Cash & Cash Equivalents	1	1	1	1	1	- -	1	1	1	- -	2	- -	- -	- -	- -
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	7	7	7	7	6	9	8	1	1	2	- -	7	6	6	8
Enterprise Value	19	15	21	22	23	33	36	51	54	56	43	52	55	59	60
Total Capital	28	27	29	30	31	38	40	38	44	52	55	64	64	63	64
Total Debt/Capital (%)	23.66	24.54	25.26	22.9	20.38	24.27	21	2.6	2.05	4.44	- -	10.52	9.83	9.07	12.89
Total Debt / EV	0.35	0.44	0.35	0.31	0.28	0.28	0.23	0.02	0.02	0.04	- -	0.13	0.12	0.1	0.14
EV/Sales	0.29	0.26	0.31	0.3	0.29	0.36	0.39	0.5	0.51	0.47	0.35	0.49	0.57	0.62	0.66
EV/EBITDA	4.69	74.5	3.51	3.83	3.21	3.26	3.26	3.37	3.37	3.26	2.47	4.32	5.15	5.14	7.18
EV/EBIT	4.69	74.5	5.91	6.53	5.25	4.7	4.85	4.54	4.56	4.46	3.47	7.53	11.67	11.86	35.71
EV/Cash Flow to Firm	- -	- -	3.98	4.44	3.3	7.47	4.54	3.2	5.16	6.56	3.3	7.62	4.68	5.36	6.98
EV/Free Cash Flow to Firm	- -	- -	2.03	2.36	1.75	2.79	2.64	2.23	2.87	3.42	1.86	2.71	2.85	3.54	3.4
Diluted Market Cap	13	10	15	17	18	24	29	51	54	54	47	45	49	54	52
Diluted Enterprise Value	19	15	21	22	23	33	36	51	54	56	45	52	55	59	60
EV per Share	10.11	9.54	12.09	13.05	13.68	19.36	21.12	29.96	31.94	32.86	25.63	32.09	35.14	39.92	41.65
TTM Sales	64	57	68	73	81	90	93	103	107	119	122	106	95	95	91
TTM EBITDA	4	- -	6	6	7	10	11	15	16	17	17	12	11	12	8
TTM Operating Income	4	- -	4	3	4	7	7	11	12	12	12	7	5	5	2
TTM Cash Flow to Firm	- -	- -	5	5	7	4	8	16	10	8	13	7	12	11	9
TTM Free Cash Flow to Firm	- -	- -	10	9	13	12	14	23	19	16	23	19	19	17	18

Multiples (USD)

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	1990 Y	1991 Y	1992 Y	1993 Y	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y
Price/Free Cash Flow	- -	- -	1.45	1.77	1.37	2.05	2.1	2.24	2.87	3.32	2.05	2.36	2.53	3.22	2.94
EV/EBIT	4.69	74.5	5.91	6.53	5.25	4.7	4.85	4.54	4.56	4.46	3.47	7.53	11.67	11.86	35.71
Enterprise Value	19	15	21	22	23	33	36	51	54	56	43	52	55	59	60
Low Price	6.88	5.12	5.44	6.4	9.76	10.72	12.96	16.16	28.8	28.16	24.96	23.68	26.55	30.76	29.5
EV/Sales	0.29	0.26	0.31	0.3	0.29	0.36	0.39	0.5	0.51	0.47	0.35	0.49	0.57	0.62	0.66
EV/EBITDA	4.69	74.5	3.51	3.83	3.21	3.26	3.26	3.37	3.37	3.26	2.47	4.32	5.15	5.14	7.18
Price/Earnings	6.08	- -	7.4	8.3	6.7	5.76	6.42	7.09	6.96	6.55	4.52	9.79	10.79	16.39	41.35
Price/Earnings Average	6.96	-50.08	5.76	7.25	6.67	5.01	5.72	5	7.82	6.59	4.84	9.54	10.01	15.01	41.26
Price/Earnings High	9.05	-60	7.81	9.25	7.4	6.08	7.1	7.09	8.64	7.68	5.88	10.58	11.16	17.12	45.71
Price/Earnings Low	5.81	-40	4.66	5.44	6.1	4.33	5	3.81	6.27	5.82	4.25	8.28	9.18	13.86	33.89
Price/Book Value	0.63	0.47	0.68	0.72	0.72	0.85	0.89	1.37	1.26	1.09	0.8	0.79	0.84	0.95	0.93
Price/Book Value Average	0.72	0.49	0.53	0.63	0.72	0.74	0.8	0.96	1.42	1.09	0.85	0.77	0.78	0.87	0.92
Price/Book Value High	0.94	0.59	0.72	0.81	0.8	0.9	0.99	1.37	1.56	1.27	1.04	0.86	0.86	0.99	1.02
Price/Book Value Low	0.6	0.39	0.43	0.48	0.66	0.64	0.7	0.73	1.13	0.96	0.75	0.67	0.71	0.8	0.76
Price/Tangible Book Value	0.65	0.48	0.7	0.74	0.74	0.85	0.9	1.36	1.19	1.07	0.76	0.76	0.79	1.01	0.88
Price/Tangible Book Value Average	0.74	0.51	0.54	0.65	0.73	0.74	0.8	0.96	1.33	1.07	0.82	0.74	0.74	0.93	0.88
Price/Tangible Book Value High	0.97	0.61	0.74	0.83	0.82	0.9	0.99	1.36	1.47	1.25	1	0.82	0.82	1.06	0.97
Price/Tangible Book Value Low	0.62	0.41	0.44	0.49	0.67	0.64	0.7	0.73	1.07	0.95	0.72	0.64	0.68	0.86	0.72
Price/Sales	0.21	0.17	0.22	0.23	0.22	0.27	0.3	0.5	0.51	0.45	0.36	0.43	0.51	0.57	0.57
Price/Sales Average	0.24	0.18	0.17	0.2	0.22	0.23	0.27	0.35	0.57	0.46	0.39	0.42	0.47	0.52	0.57
Price/Sales High	0.31	0.21	0.23	0.25	0.25	0.28	0.34	0.5	0.63	0.53	0.47	0.46	0.53	0.59	0.63
Price/Sales Low	0.2	0.14	0.14	0.15	0.2	0.2	0.24	0.27	0.46	0.4	0.34	0.36	0.43	0.48	0.47
Price/Cash Flow	- -	- -	2.85	3.32	2.58	5.5	3.58	3.21	5.17	6.32	3.42	6.65	4.16	4.89	6.03
Price/Cash Flow Average	- -	- -	2.22	2.9	2.57	4.79	3.18	2.26	5.81	6.35	3.66	6.48	3.86	4.48	6.02
Price/Cash Flow High	- -	- -	3	3.7	2.85	5.81	3.95	3.21	6.42	7.41	4.44	7.18	4.3	5.11	6.67
Price/Cash Flow Low	- -	- -	1.79	2.18	2.35	4.14	2.79	1.73	4.66	5.62	3.21	5.62	3.54	4.13	4.94
Price/Free Cash Flow Average	- -	- -	1.13	1.54	1.36	1.78	1.87	1.58	3.23	3.33	2.19	2.3	2.34	2.95	2.93
Price/Free Cash Flow High	- -	- -	1.53	1.97	1.51	2.16	2.32	2.24	3.56	3.89	2.66	2.55	2.61	3.37	3.24
Price/Free Cash Flow Low	- -	- -	0.91	1.16	1.25	1.54	1.64	1.2	2.59	2.95	1.92	2	2.15	2.73	2.41
EV/Sales Average	0.32	0.27	0.26	0.27	0.29	0.33	0.35	0.35	0.57	0.47	0.37	0.48	0.54	0.58	0.66
EV/Sales High	0.39	0.3	0.32	0.33	0.31	0.38	0.42	0.5	0.63	0.55	0.46	0.53	0.59	0.65	0.72
EV/Sales Low	0.28	0.23	0.23	0.23	0.27	0.3	0.32	0.27	0.46	0.42	0.33	0.43	0.5	0.54	0.56
EV/EBITDA Average	5.18	77.08	2.95	3.47	3.2	2.95	2.98	2.37	3.78	3.27	2.66	4.23	4.82	4.75	7.17
EV/EBITDA High	6.33	87	3.65	4.16	3.47	3.39	3.53	3.37	4.18	3.8	3.25	4.62	5.31	5.35	7.84
EV/EBITDA Low	4.55	67	2.58	2.84	2.98	2.66	2.69	1.8	3.03	2.91	2.32	3.74	4.47	4.42	6.06
EV/EBIT Average	5.18	77.08	4.98	5.91	5.23	4.25	4.43	3.2	5.12	4.48	3.72	7.36	10.93	10.96	35.64
EV/EBIT High	6.33	87	6.15	7.09	5.68	4.89	5.25	4.54	5.65	5.2	4.55	8.05	12.02	12.34	38.96
EV/EBIT Low	4.55	67	4.35	4.85	4.88	3.84	4	2.43	4.1	3.98	3.25	6.51	10.13	10.19	30.14
Last Price	7.2	6.08	8.64	9.76	10.72	14.24	16.64	30.08	32	31.68	26.56	28	31.2	36.38	36
High Price	10.72	7.68	9.12	10.88	11.84	15.04	18.4	30.08	39.68	37.12	34.56	30.24	32.25	38	39.79
Enterprise Value Average	21	15	17	20	23	30	33	36	61	56	46	51	51	55	60
Enterprise Value High	25	17	22	24	25	34	39	51	67	65	56	56	56	62	65
Enterprise Value Low	18	13	15	16	21	27	30	27	49	50	40	45	48	51	50

	1990 Y	1991 Y	1992 Y	1993 Y	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y
Shares Outstanding	2	2	2	2	2	2	2	2	2	2	2	2	2	1	1
Diluted Weighted Avg Shares	2	2	2	2	2	2	2	2	2	2	2	2	2	1	1
Basic Weighted Avg Shares	2	2	2	2	2	2	2	2	2	2	2	2	2	1	1
Revenue per Share	34.66	36.54	39.48	42.98	47.82	53.29	54.66	60.49	62.97	69.94	73.44	65.22	61.28	64.1	63.18
EBITDA per Share	2.15	0.13	3.45	3.41	4.27	5.95	6.48	8.89	9.48	10.08	10.36	7.42	6.82	7.77	5.8
Operating Income per Share	2.15	0.13	2.04	2	2.61	4.12	4.36	6.6	7.01	7.37	7.39	4.26	3.01	3.36	1.17
Basic EPS, GAAP	1.18	-0.13	1.17	1.18	1.6	2.47	2.59	4.24	4.59	4.84	5.88	2.86	2.89	2.22	0.87
Basic EPS from Cont Ops	1.18	-0.13	1.17	1.18	1.6	2.47	2.59	4.24	4.59	4.84	5.88	2.86	2.89	2.22	0.87
Diluted EPS, GAAP	1.18	-0.13	1.17	1.18	1.6	2.47	2.56	4.24	4.59	4.81	5.53	2.86	2.89	2.22	0.87
Diluted EPS from Cont Ops	1.18	-0.13	1.17	1.18	1.6	2.47	2.56	4.24	4.59	4.81	5.53	2.86	2.89	2.22	0.87
Dividend per Share	- -	- -	0.23	0.41	0.41	0.53	0.71	0.77	1.3	1.42	1.49	1.51	0.9	0.94	0.7
Cash Flow per Share	- -	- -	3.04	2.94	4.15	2.59	4.65	9.36	6.19	5.01	7.78	4.21	7.51	7.44	5.97
Free Cash Flow per Basic Share	- -	- -	0.12	0.35	0.47	-1.77	1.3	5.3	1.24	0.41	1.76	-3.43	2.67	3.6	-0.33
Cash & Equivalents per Share	0.65	0.77	0.82	0.71	0.83	0.24	0.47	0.71	0.59	0.18	0.93	0.06	0.13	0.28	0.11
Book Value per Share	11.46	12.99	12.61	13.47	14.81	16.72	18.61	22.03	25.39	29.19	33.33	35.28	37.3	38.28	38.89
Tangible Book Value per Share	11.09	12.54	12.38	13.17	14.52	16.72	18.49	22.15	26.98	29.72	34.72	36.78	39.27	35.9	40.96

Federal Screw Works

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)