First Savings Financial Group, Inc. Financial Ratios — FSFG

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 (%)	11.51	10.86	10.93	11.59	13.16	13.98	14.65	15.13	19.28	31.11	21.63	9.85	4.98	8	12.67
Return on Assets (%)	0.77	0.73	0.72	0.78	0.92	1.02	1.1	1.13	1.43	2.23	1.7	0.81	0.37	0.57	0.96
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	3.83	4.03	4.51	4.99	4.81	5.13	3.06	2.8	2	1.03	1.3	2.19	2.93	3.37	2.67
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	24.12	23.22	23.66	25.76	27.59	19.62	31.1	30.06	23.91	25.89	22.51	15.47	9.42	20.74	31.94
Profit Margin (%)	17	17.33	17.08	18.6	22.37	27.76	24.48	22.21	19.25	18.48	16.65	13.75	9.41	19.29	27.54
Net Income to Common Margin (%)	16.52	16.64	16.46	18.01	21.8	27.55	24.48	22.21	19.25	18.48	16.65	13.75	9.41	19.29	27.54
Effective Tax Rate (%)	29.49	25.38	27.83	27.82	18.93	- -	21.3	16.41	15.41	27.09	25.01	11.11	0.12	6.97	13.78
Dvd Payout Ratio (%)	-2.95	1.77	34.74	17.51	15.12	14.14	13.2	9.75	8.26	4.57	5.55	29.24	46.41	29.8	18.93
Sustainable Growth Rate (%)	11.85	10.67	7.13	9.56	11.17	12	12.72	13.65	17.69	29.69	20.43	6.97	2.67	5.62	10.27

Credit (USD)

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	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	53	55	94	84	109	122	118	110	242	331	270	396	412	350	464
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	53	55	94	84	109	122	118	110	242	331	270	396	412	350	464
Total Debt/EBITDA	58.84	55.42	76	58.38	75.41	83.25	101.43	79.87	143.87	177.96	117.33	161.56	161.49	147.72	206.67
Net Debt/EBITDA	28.72	16.47	58.02	43.27	56.06	61.05	69.91	47.26	117.92	158.22	101.83	143.89	149.19	125.52	192.36
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	6.67	6.25	6.49	6.62	7.04	7.47	7.59	7.4	7.46	6.98	8.73	7.74	7.27	7.08	8.01
Long-Term Debt/Equity (%)	69.37	66.56	114.67	96.88	116.05	140.49	126.79	109.39	199.8	209.85	149.61	260.95	272.63	197.75	239.7
Long-Term Debt/Capital (%)	59.73	58.02	68.74	64.12	67.47	67.14	63.59	58.44	72.6	72.81	64.23	70.94	71.21	66.88	70.7
Long-Term Debt/Total Assets (%)	9.89	8.64	14.28	11.83	14.6	15.27	13.25	10.6	19.82	18.74	15.68	18.89	17.98	14.29	19.33
Total Debt/Equity (%)	69.37	66.56	114.67	96.88	116.05	140.49	126.79	109.39	199.8	209.85	149.61	260.95	272.63	197.75	239.7
Total Debt/Capital (%)	59.73	58.02	68.74	64.12	67.47	67.14	63.59	58.44	72.6	72.81	64.23	70.94	71.21	66.88	70.7
Total Debt/Total Assets (%)	9.89	8.64	14.28	11.83	14.6	15.27	13.25	10.6	19.82	18.74	15.68	18.89	17.98	14.29	19.33
Net Debt to Equity	33.86	19.78	87.54	71.81	86.27	103.02	87.39	64.73	163.76	186.57	129.85	232.4	251.88	168.03	223.11
Net Debt/Capital (%)	41.99	29.11	62.67	56.99	60.66	59.97	54.62	45.42	68.47	70.42	60.92	68.5	69.56	63.18	69.19
EBITDA	1	1	1	1	1	1	1	1	2	2	2	2	3	2	2
EBITDA-CapEx	-1	- -	-4	1	1	1	1	- -	-8	-5	-3	2	- -	2	1
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	6.67	6.25	6.49	6.62	7.04	7.47	7.59	7.4	7.46	6.98	8.73	7.74	7.27	7.08	8.01
Long-Term Debt/Equity (%)	69.37	66.56	114.67	96.88	116.05	140.49	126.79	109.39	199.8	209.85	149.61	260.95	272.63	197.75	239.7
Long-Term Debt/Capital (%)	59.73	58.02	68.74	64.12	67.47	67.14	63.59	58.44	72.6	72.81	64.23	70.94	71.21	66.88	70.7
Long-Term Debt/Total Assets (%)	9.89	8.64	14.28	11.83	14.6	15.27	13.25	10.6	19.82	18.74	15.68	18.89	17.98	14.29	19.33
Total Debt/Equity (%)	69.37	66.56	114.67	96.88	116.05	140.49	126.79	109.39	199.8	209.85	149.61	260.95	272.63	197.75	239.7
Total Debt/Capital (%)	59.73	58.02	68.74	64.12	67.47	67.14	63.59	58.44	72.6	72.81	64.23	70.94	71.21	66.88	70.7
Total Debt/Total Assets (%)	9.89	8.64	14.28	11.83	14.6	15.27	13.25	10.6	19.82	18.74	15.68	18.89	17.98	14.29	19.33
CFO/Total Liabilities	2.39	0.78	1.96	1.3	-0.09	1.32	-0.28	1.92	-4.06	-8.69	7.46	7.66	1.53	4.01	3.59
CFO/CapEx	7.05	5.06	2.39	23.77	-1.19	26.53	-5.23	11.27	-4.71	-19.11	20.37	178.22	11.09	133.34	90.03
Altman's Z-Score	0.18	0.17	0.19	0.19	0.21	0.21	0.24	0.25	0.26	0.25	0.31	0.22	0.17	0.17	0.15

Working Capital (USD)

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	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	10.29	13.92	21.43	23.34	23.81	21.03	22.66	21.37	27.93	45.62	39.53	22.89	13.17	8.17	8.92
Days Sales Outstanding	35.49	26.23	17.03	15.64	15.33	17.36	16.11	17.08	13.07	8	9.23	15.95	27.71	44.7	40.92
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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	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	33	42	49	53	73	80	118	154	146	128	199	162	101	163	- -
- Cash & Cash Equivalents	27	39	22	22	28	32	37	45	44	37	36	43	31	53	32
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	1	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	53	55	94	84	109	122	118	110	242	331	270	396	412	350	464
Enterprise Value	59	-94	-43	-69	-24	-6	22	36	168	220	226	198	253	212	430
Total Capital	89	95	137	132	162	181	186	188	334	454	420	558	578	524	656
Total Debt/Capital (%)	59.73	58.02	68.74	64.12	67.47	67.14	63.59	58.44	72.6	72.81	64.23	70.94	71.21	66.88	70.7
Total Debt / EV	0.9	-0.59	-2.18	-1.22	-4.53	-21.11	5.42	3.04	1.44	1.5	1.19	2	1.62	1.66	1.08
EV/Sales	2.51	- -	- -	- -	- -	- -	0.57	0.74	2	1.22	1.27	1.77	2.92	3	5.11
EV/EBITDA	65.55	- -	- -	- -	- -	- -	18.7	26.31	99.68	118.59	98.38	80.85	99.42	89.23	191.67
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	5.38	- -	- -	- -	- -	- -	- -	2.01	- -	- -	1.97	1.33	7.74	2.32	5.44
EV/Free Cash Flow to Firm	4.71	- -	- -	- -	- -	- -	- -	1.85	- -	- -	1.88	1.32	7.1	2.3	5.38
Diluted Market Cap	34	43	51	56	76	83	125	162	150	129	201	164	101	163	- -
Diluted Enterprise Value	60	60	123	118	158	172	207	228	349	423	435	516	482	461	432
EV per Share	9.2	- -	- -	- -	- -	- -	3.27	5.33	24.16	31.16	31.83	28.04	37.01	30.97	- -
TTM Sales	24	25	27	29	30	28	38	49	84	181	178	112	87	70	84
TTM EBITDA	1	1	1	1	1	1	1	1	2	2	2	2	3	2	2
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	11	4	11	8	-1	9	-2	18	-45	-140	115	149	33	91	79
TTM Free Cash Flow to Firm	13	5	16	8	- -	10	-2	20	-35	-132	121	150	36	92	80

Multiples (USD)

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	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	2.7	8.39	3.18	6.57	-868.28	8.57	-69.48	8.28	-4.26	-0.98	1.66	1.1	2.84	1.78	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	59	-94	-43	-69	-24	-6	22	36	168	220	226	198	253	212	430
Low Price	4.37	5.08	5.99	6.96	8.17	10.83	11.72	17.8	15.12	9.83	17.03	22.65	11.74	13.2	21.63
EV/Sales	2.51	- -	- -	- -	- -	- -	0.57	0.74	2	1.22	1.27	1.77	2.92	3	5.11
EV/EBITDA	65.55	- -	- -	- -	- -	- -	18.7	26.31	99.68	118.59	98.38	80.85	99.42	89.23	191.67
Price/Earnings	8.53	10.25	10.78	10.15	11.06	10.13	12.72	14.14	9.05	3.84	6.72	10.54	12.34	11.97	- -
Price/Earnings Average	8.53	9.14	10.37	9.54	9.1	9.75	11.32	13.5	8.24	3.71	5.52	11.61	14.79	8.85	- -
Price/Earnings High	10.16	10.28	13.52	10.21	11.84	10.37	14.05	16.57	9.74	4.86	7.17	13.75	19.69	12.31	- -
Price/Earnings Low	7.21	8.01	8.61	8.49	7.97	9.11	8.38	11.06	6.49	2.08	4.09	10.39	9.84	6.63	- -
Price/Book Value	0.93	1.06	1.14	1.12	1.38	1.34	1.75	2.01	1.6	1.04	1.32	1	0.61	0.94	- -
Price/Book Value Average	0.93	0.94	1.09	1.06	1.13	1.29	1.56	1.92	1.46	1	1.09	1.1	0.73	0.69	- -
Price/Book Value High	1.11	1.06	1.43	1.13	1.48	1.37	1.94	2.36	1.73	1.32	1.41	1.31	0.97	0.97	- -
Price/Book Value Low	0.78	0.83	0.91	0.94	0.99	1.2	1.15	1.58	1.15	0.56	0.81	0.99	0.48	0.52	- -
Price/Tangible Book Value	0.49	0.58	0.68	0.68	0.86	1.02	1.4	1.74	1.38	1.06	1.72	2.2	1.3	0.99	- -
Price/Tangible Book Value Average	0.49	0.52	0.65	0.64	0.7	0.99	1.25	1.66	1.26	1.02	1.41	2.42	1.55	0.73	- -
Price/Tangible Book Value High	0.58	0.58	0.85	0.69	0.92	1.05	1.55	2.04	1.49	1.34	1.83	2.87	2.07	1.02	- -
Price/Tangible Book Value Low	0.41	0.45	0.54	0.57	0.62	0.92	0.92	1.36	0.99	0.57	1.05	2.17	1.03	0.55	- -
Price/Sales	1.41	1.71	1.77	1.83	2.41	2.79	3.11	3.14	1.74	0.71	1.12	1.45	1.16	2.31	- -
Price/Sales Average	1.41	1.52	1.71	1.72	1.98	2.69	2.77	3	1.59	0.69	0.92	1.6	1.39	1.71	- -
Price/Sales High	1.68	1.71	2.22	1.84	2.58	2.86	3.44	3.68	1.87	0.9	1.19	1.89	1.85	2.38	- -
Price/Sales Low	1.19	1.33	1.42	1.53	1.74	2.51	2.05	2.46	1.25	0.38	0.68	1.43	0.93	1.28	- -
Price/Cash Flow	3.02	9.75	4.31	6.52	-129.24	8.49	-53.16	8.58	-3.27	-0.92	1.73	1.09	3.08	1.78	- -
Price/Cash Flow Average	3.02	8.69	4.14	6.13	-106.4	8.17	-47.29	8.19	-2.98	-0.89	1.42	1.2	3.69	1.32	- -
Price/Cash Flow High	3.6	9.78	5.4	6.56	-138.36	8.69	-58.72	10.06	-3.52	-1.16	1.84	1.42	4.91	1.83	- -
Price/Cash Flow Low	2.55	7.62	3.44	5.45	-93.19	7.63	-35	6.71	-2.35	-0.5	1.05	1.07	2.45	0.99	- -
Price/Free Cash Flow Average	2.7	7.48	3.06	6.18	-714.83	8.24	-61.8	7.91	-3.88	-0.94	1.37	1.21	3.4	1.31	- -
Price/Free Cash Flow High	3.22	8.41	3.98	6.61	-929.59	8.77	-76.74	9.71	-4.58	-1.23	1.77	1.43	4.53	1.83	- -
Price/Free Cash Flow Low	2.28	6.56	2.54	5.5	-626.11	7.7	-45.75	6.48	-3.05	-0.53	1.01	1.08	2.26	0.98	- -
EV/Sales Average	2.51	2.18	4.33	3.88	4.68	5.82	4.91	4.35	3.95	2.32	2.24	4.74	5.77	5.93	5.13
EV/Sales High	2.78	2.37	4.84	4	5.28	5.99	5.58	5.03	4.24	2.53	2.51	5.04	6.23	6.6	5.13
EV/Sales Low	2.29	2	4.04	3.69	4.44	5.64	4.19	3.81	3.62	2.02	2	4.58	5.3	5.5	5.13
EV/EBITDA Average	65.57	54.24	95.83	77.75	97.32	113.42	160.46	155.52	197.18	225	172.76	216.85	196.62	176.25	192.36
EV/EBITDA High	72.6	58.96	107.3	80.16	109.71	116.75	182.35	179.89	211.56	245.59	193.96	230.33	212.3	196.1	192.36
EV/EBITDA Low	59.85	49.57	89.43	73.95	92.2	109.98	136.94	136.12	180.42	195.78	154.46	209.19	180.73	163.55	192.36
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	5.17	6.5	7.5	8.32	11.33	12.05	17.8	22.76	21.07	18.11	27.96	22.98	14.73	23.81	31.43
High Price	6.16	6.52	9.4	8.37	12.13	12.33	19.66	26.67	22.67	22.92	29.81	29.98	23.49	24.5	33
Enterprise Value Average	59	54	119	112	141	166	187	214	332	418	397	531	501	418	432
Enterprise Value High	66	59	133	116	159	171	212	247	356	456	446	564	541	465	432
Enterprise Value Low	54	49	111	107	134	161	159	187	304	364	355	512	461	388	432

	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	7	7	7	7	7	7	7	7	7	7	7	7	7	7	7
Diluted Weighted Avg Shares	7	7	7	7	7	7	7	7	7	7	7	7	7	7	- -
Basic Weighted Avg Shares	6	6	7	6	6	7	7	7	7	7	7	7	7	7	- -
Revenue per Share	3.67	3.81	4.23	4.55	4.7	4.32	5.72	7.25	12.1	25.53	24.98	15.85	12.68	10.31	- -
EBITDA per Share	0.14	0.15	0.19	0.23	0.23	0.22	0.17	0.2	0.24	0.26	0.32	0.35	0.37	0.35	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	0.61	0.63	0.7	0.82	1.02	1.19	1.4	1.61	2.33	4.72	4.16	2.18	1.19	1.99	- -
Basic EPS from Cont Ops	0.62	0.66	0.72	0.85	1.05	1.2	1.4	1.82	2.45	4.82	4.22	2.18	1.19	1.99	- -
Diluted EPS, GAAP	0.59	0.62	0.66	0.78	0.98	1.14	1.32	1.53	2.27	4.68	4.12	2.15	1.19	1.98	- -
Diluted EPS from Cont Ops	0.61	0.64	0.69	0.81	1	1.14	1.32	1.73	2.39	4.78	4.18	2.15	1.19	1.98	- -
Dividend per Share	- -	0.04	0.27	0.17	0.18	0.18	0.18	0.2	0.21	0.22	0.24	0.64	0.55	0.59	- -
Cash Flow per Share	1.71	0.67	1.74	1.28	-0.09	1.42	-0.33	2.65	-6.44	-19.76	16.16	21.08	4.78	13.35	- -
Free Cash Flow per Basic Share	1.47	0.53	1.01	1.22	-0.16	1.37	-0.4	2.42	-7.8	-20.79	15.37	20.96	4.35	13.25	- -
Cash & Equivalents per Share	4.23	29.48	28.66	32.43	32.14	31.35	32.26	33.83	31.81	33.76	34.09	50.97	37.83	44.11	- -
Book Value per Share	5.57	6.15	6.59	7.41	8.22	9.02	10.16	11.3	13.14	17.42	21.14	22.95	24.3	25.39	- -
Tangible Book Value per Share	10.65	11.18	11.1	12.16	13.24	11.76	12.69	13.09	15.26	17.12	16.25	10.45	11.35	24.03	- -

First Savings Financial Group, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)