Fuel Tech, Inc. Financial Ratios — FTEK Stock

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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	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 (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	5.69	2.54	4.72	-17.59	-14.78	-25.99	-19.3	-0.05	-18.85	-13.87	0.13	-2.88	-3.06	-3.92	-4.84
Return on Capital (%)	-14.5	-6.18	-11.28	- -	- -	- -	- -	0.03	- -	- -	-0.06	- -	- -	- -	- -
Return on Invested Capital (%)	6.71	3.28	6	- -	- -	- -	- -	0.92	- -	- -	-3.35	- -	- -	- -	- -
Gross Margin (%)	46.77	41.73	42.82	44.46	38.77	34.07	39.9	35.49	35.55	47.18	49.04	43.22	43.04	42.27	46.42
EBITDA Margin (%)	13.46	8.49	10.07	3.22	-0.25	-10.2	-5.43	2.25	-21.31	-14.59	-3.08	-4.03	-8.55	-16.88	-11.18
Operating Margin (%)	9.49	5.33	7.32	-2.23	-5.14	-15.45	-8.81	0.76	-24.58	-18.35	-6.14	-5.67	-9.81	-18.71	-13.8
Incremental Operating Margin (%)	48.19	-92.83	23.94	- -	- -	- -	- -	38.77	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	9.88	5.2	7.19	-32.65	-7.87	-23.43	-15.75	0.21	-25.72	-18.72	0.28	-5.15	-5.42	-7.42	-8.66
Profit Margin (%)	6.56	2.84	4.67	-22.43	-16.81	-31.52	-23.13	-0.05	-25.77	-18.97	0.22	-5.35	-5.68	-7.73	-8.71
Net Income to Common Margin (%)	6.56	2.84	4.67	-22.43	-16.81	-31.52	-23.13	-0.05	-25.77	-18.97	0.22	-5.35	-5.68	-7.73	-8.71
Effective Tax Rate (%)	33.59	45.33	35.14	- -	- -	- -	- -	27.97	- -	- -	20.59	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	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	1	- -	2	2	- -	- -	- -	- -	- -	2	- -	- -	1	1	1
ST Debt	1	- -	2	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	2	- -	- -	1	1	- -
Total Debt/EBITDA	0.09	- -	0.15	0.64	- -	- -	- -	- -	-0.06	-0.59	-0.31	-0.18	-0.27	-0.15	-0.19
Net Debt/EBITDA	-2.14	-2.95	-2.37	-6.69	117.85	2.1	3.41	-9.45	1.68	2.76	47.99	21.46	7.59	2.01	4
Total Debt/EBIT	0.13	- -	0.2	-0.92	- -	- -	- -	- -	-0.05	-0.47	-0.16	-0.13	-0.23	-0.13	-0.16
Net Debt/EBIT	-3.04	-4.7	-3.26	9.65	5.73	1.39	2.1	-28.19	1.46	2.19	24.11	15.28	6.61	1.81	3.24
EBITDA to Interest Expense	85.21	89.13	196.68	20.34	-6.81	- -	- -	- -	- -	-822.75	-39.37	-63.94	-110.29	- -	- -
EBITDA-CapEx/Interest Expense	68.94	61.88	165.36	-26.2	-36.52	- -	- -	- -	- -	-884.5	-43.79	-76.06	-130.19	- -	- -
EBIT to Interest Expense	60.07	55.91	142.86	-14.1	-140.26	- -	- -	- -	- -	-1,034.75	-78.37	-89.82	-126.57	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-38.76	-46.18	-39.8	-67.26	-97.22	-157.96	-202.88	-197.7	-348.26	-380.02	-228.59	-230.78	-232.63	-244.19	-257.47
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	0.69	8.03	0.26	0.15	1.22	1.31	1.23
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	-0.16	-1.6	-0.11	-0.06	-0.46	-0.46	-0.41
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	0.57	5.96	0.24	0.13	1.06	1.12	1.04
Total Debt/Equity (%)	1.33	- -	1.85	2.25	- -	- -	- -	- -	1.38	8.7	0.51	0.43	1.4	1.49	1.45
Total Debt/Capital (%)	-2.77	- -	-3.88	-2.71	- -	- -	- -	- -	-0.33	-1.73	-0.21	-0.17	-0.53	-0.53	-0.48
Total Debt/Total Assets (%)	1.05	- -	1.49	1.78	- -	- -	- -	- -	1.15	6.45	0.47	0.38	1.22	1.28	1.23
Net Debt to Equity	-30.39	-29.03	-29.45	-23.53	-36.77	-27.25	-24.48	-35.35	-41.7	-40.7	-77.69	-52.02	-40.21	-20.28	-29.9
Net Debt/Capital (%)	38.18	33.33	37.34	21.66	22.69	11.47	7.55	10.53	9.05	7.38	23.95	16.81	13.1	6.7	8.99
EBITDA	13	8	11	3	- -	-6	-2	1	-6	-3	-1	-1	-2	-4	-3
EBITDA-CapEx	10	6	9	-3	-1	-7	-3	1	-7	-4	-1	-1	-3	-5	-4
Operating Income (Loss)	9	5	8	-2	-4	-9	-4	- -	-7	-4	-1	-2	-3	-5	-4

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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	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	1.25	1.17	1.34	1	1.31	0.84	0.53	0.7	2.28	1.92	11.14	5.52	5.22	3.19	3.97
Current Ratio	2.93	2.86	3.35	3.13	3.17	2.89	2.15	2.37	4.51	3.81	12.87	7.52	6.74	5.06	5.09
Quick Ratio	2.82	2.62	3.2	2.74	2.82	2.19	1.79	1.77	3.63	3.11	12.15	7.14	6.41	4.79	4.82
CFO/Avg Current Liab	0.24	0.4	0.14	0.28	0.39	-0.18	-0.24	0.3	-0.31	-0.52	0.17	-1.04	0.13	-0.59	0.5
Common Equity/Total Assets	-38.76	-46.18	-39.8	-67.26	-97.22	-157.96	-202.88	-197.7	-348.26	-380.02	-228.59	-230.78	-232.63	-244.19	-257.47
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	0.69	8.03	0.26	0.15	1.22	1.31	1.23
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	-0.16	-1.6	-0.11	-0.06	-0.46	-0.46	-0.41
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	0.57	5.96	0.24	0.13	1.06	1.12	1.04
Total Debt/Equity (%)	1.33	- -	1.85	2.25	- -	- -	- -	- -	1.38	8.7	0.51	0.43	1.4	1.49	1.45
Total Debt/Capital (%)	-2.77	- -	-3.88	-2.71	- -	- -	- -	- -	-0.33	-1.73	-0.21	-0.17	-0.53	-0.53	-0.48
Total Debt/Total Assets (%)	1.05	- -	1.49	1.78	- -	- -	- -	- -	1.15	6.45	0.47	0.38	1.22	1.28	1.23
CFO/Total Liabilities	20.26	40.01	13.26	28.35	40.66	-19.02	-21.87	27.89	-62.36	-34.85	20.16	-78.35	10.43	-50.18	41.62
CFO/CapEx	2.02	3.42	1.62	0.93	8.64	-2.91	-7.25	8.64	-6.16	-10.96	9.06	-20.09	1.67	-9.08	4.47
Altman's Z-Score	5.28	3.8	5.99	3.17	1.54	-0.16	-0.95	-0.21	-1.96	2.55	4.58	2.2	0.63	0.03	1.18

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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	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	3.37	3.03	3.26	2.29	2.68	2.64	2.35	3.33	2.95	3.94	6.8	8.01	6.08	5.2	5.41
Days Sales Outstanding	108.18	120.58	112.07	159.1	136.19	138.46	155.48	109.6	123.91	92.59	53.69	45.57	60.01	70.25	67.51
Inventory Turnover	89.19	138.1	130.8	56.49	32.64	27.29	27.74	38.35	32.17	65.99	55.56	41.35	37.12	34.71	37.13
Days Inventory Outstanding	4.09	2.64	2.79	6.46	11.18	13.37	13.16	9.52	11.35	5.53	6.57	8.83	9.83	10.51	9.83
Accounts Payable Turnover	5.49	4.9	5.49	5.17	5.62	4.69	3.52	3.93	3.26	5.26	6.45	7.18	6.03	5.42	4.64
Accounts Payable Turnover Days	66.52	74.48	66.48	70.57	64.97	77.88	103.58	92.86	111.9	69.46	56.63	50.81	60.52	67.31	78.74
Cash Conversion Cycle	45.75	48.74	48.39	94.99	82.4	73.96	65.06	26.25	23.35	28.66	3.63	3.59	9.32	13.46	-1.4
Inventory to Cash Days	104.08	117.94	109.28	152.63	125	125.09	142.33	100.08	112.56	87.05	47.12	36.74	50.18	59.74	57.68
Inventories	- -	1	- -	1	2	1	1	1	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	1	- -	1	2	1	1	1	- -	- -	- -	- -	- -	- -	- -

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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	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	159	95	158	87	44	27	27	29	23	96	41	38	32	32	48
- Cash & Cash Equivalents	28	24	28	19	22	12	8	12	11	11	36	23	18	9	12
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	1	- -	2	2	- -	- -	- -	- -	- -	2	- -	- -	1	1	1
Enterprise Value	131	71	132	70	22	15	18	17	12	87	6	12	3	14	24
Total Capital	-43	-49	-42	-60	-74	-91	-102	-102	-110	-112	-114	-115	-117	-119	-121
Total Debt/Capital (%)	-2.77	- -	-3.88	-2.71	- -	- -	- -	- -	-0.33	-1.73	-0.21	-0.17	-0.53	-0.53	-0.48
Total Debt / EV	0.01	- -	0.01	0.02	- -	- -	- -	- -	0.03	0.02	0.04	0.02	0.22	0.04	0.02
EV/Sales	1.4	0.73	1.21	0.89	0.3	0.27	0.41	0.3	0.41	3.86	0.24	0.46	0.1	0.56	0.9
EV/EBITDA	10.42	8.55	11.97	27.61	- -	- -	- -	13.12	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	14.78	13.63	16.48	- -	- -	- -	- -	39.15	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	26.52	8.13	45.82	12.72	3.15	- -	- -	3.39	- -	- -	7.42	- -	3.85	- -	7.94
EV/Free Cash Flow to Firm	17.85	6.3	28.47	6.19	2.82	- -	- -	3.04	- -	- -	6.7	- -	2.43	- -	6.49
Diluted Market Cap	162	99	160	87	44	27	27	29	23	96	42	38	32	32	48
Diluted Enterprise Value	135	74	134	70	22	15	18	17	12	87	6	15	15	24	37
EV per Share	5.46	3.12	5.92	3.08	0.95	0.64	0.77	0.69	0.51	3.53	0.19	0.41	0.09	0.46	0.77
TTM Sales	94	98	109	79	74	55	45	57	30	23	24	27	27	25	27
TTM EBITDA	13	8	11	3	- -	-6	-2	1	-6	-3	-1	-1	-2	-4	-3
TTM Operating Income	9	5	8	-2	-4	-9	-4	- -	-7	-4	-1	-2	-3	-5	-4
TTM Cash Flow to Firm	5	9	3	6	7	-3	-4	5	-3	-3	1	-4	1	-3	3
TTM Free Cash Flow to Firm	7	11	5	11	8	-2	-3	5	-3	-2	1	-4	1	-3	4

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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	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	22.31	8.82	34.83	7.75	5.65	-14.94	-8.69	5.23	-8.1	-38.94	49.2	-9.78	28.6	-10.51	13.08
EV/EBIT	14.78	13.63	16.48	- -	- -	- -	- -	39.15	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	131	71	132	70	22	15	18	17	12	87	6	12	3	14	24
Low Price	3.77	3.45	3.55	3.61	1.76	1.13	0.7	0.96	0.8	0.3	1.35	1.02	0.96	0.91	0.87
EV/Sales	1.4	0.73	1.21	0.89	0.3	0.27	0.41	0.3	0.41	3.86	0.24	0.46	0.1	0.56	0.9
EV/EBITDA	10.42	8.55	11.97	27.61	- -	- -	- -	13.12	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	25.79	34.36	30.98	- -	- -	- -	- -	- -	- -	- -	767.02	- -	- -	- -	- -
Price/Earnings Average	27.52	39.68	20.2	-6.67	-4.64	-2.05	-2.25	-1,027.83	-4.08	-6.64	1,410.55	-27.08	-24.58	-16.96	-25.27
Price/Earnings High	43.89	56.53	42.07	-10.93	-7.2	-2.75	-2.99	-1,579.29	-9.43	-40.63	3,643.34	-34.87	-36.11	-21.08	-48.59
Price/Earnings Low	14.78	28.22	15.51	-4.64	-3.28	-1.52	-1.6	-828.48	-2.47	-1.73	739.63	-21.42	-18.88	-14.32	-11.58
Price/Book Value	-3.62	-1.95	-3.61	-1.42	-0.59	-0.29	-0.26	-0.28	-0.21	-0.84	-0.36	-0.33	-0.27	-0.27	-0.4
Price/Book Value Average	-3.86	-2.25	-2.35	-1.92	-0.78	-0.39	-0.23	-0.28	-0.29	-0.25	-0.67	-0.34	-0.32	-0.28	-0.48
Price/Book Value High	-6.16	-3.21	-4.9	-3.15	-1.21	-0.52	-0.31	-0.43	-0.67	-1.52	-1.72	-0.43	-0.47	-0.34	-0.93
Price/Book Value Low	-2.07	-1.6	-1.81	-1.34	-0.55	-0.29	-0.16	-0.23	-0.18	-0.06	-0.35	-0.27	-0.25	-0.23	-0.22
Price/Tangible Book Value	2.54	1.63	2.5	1.46	0.88	0.68	0.88	0.93	0.99	4.87	0.95	0.91	0.77	0.81	1.3
Price/Tangible Book Value Average	2.71	1.89	1.63	1.98	1.16	0.9	0.77	0.94	1.38	1.45	1.75	0.92	0.92	0.83	1.58
Price/Tangible Book Value High	4.32	2.69	3.39	3.24	1.79	1.21	1.03	1.44	3.2	8.85	4.51	1.19	1.35	1.04	3.04
Price/Tangible Book Value Low	1.45	1.34	1.25	1.38	0.82	0.67	0.55	0.75	0.84	0.38	0.92	0.73	0.7	0.7	0.72
Price/Sales	1.69	0.98	1.45	1.1	0.59	0.49	0.59	0.51	0.75	4.25	1.71	1.43	1.18	1.28	1.81
Price/Sales Average	1.81	1.13	0.94	1.5	0.78	0.65	0.52	0.51	1.05	1.26	3.14	1.45	1.4	1.31	2.2
Price/Sales High	2.88	1.61	1.96	2.45	1.21	0.87	0.69	0.78	2.43	7.71	8.11	1.87	2.05	1.63	4.23
Price/Sales Low	0.97	0.8	0.72	1.04	0.55	0.48	0.37	0.41	0.64	0.33	1.65	1.15	1.07	1.11	1.01
Price/Cash Flow	32.64	11	55.6	16.05	6.3	-9.81	-7.49	5.84	-6.79	-35.39	54.43	-9.29	45.78	-9.35	16
Price/Cash Flow Average	34.83	12.71	36.25	21.76	8.3	-13	-6.59	5.84	-9.47	-10.49	100.09	-9.43	54.31	-9.6	19.47
Price/Cash Flow High	55.55	18.11	75.52	35.63	12.87	-17.49	-8.76	8.98	-21.87	-64.21	258.53	-12.15	79.79	-11.93	37.44
Price/Cash Flow Low	18.7	9.04	27.84	15.13	5.87	-9.64	-4.68	4.71	-5.72	-2.74	52.48	-7.46	41.72	-8.1	8.93
Price/Free Cash Flow Average	23.81	10.19	22.71	10.51	7.44	-19.8	-7.64	5.24	-11.3	-11.55	90.47	-9.93	33.93	-10.79	15.92
Price/Free Cash Flow High	37.97	14.52	47.31	17.21	11.54	-26.64	-10.17	8.04	-26.1	-70.66	233.69	-12.78	49.85	-13.41	30.6
Price/Free Cash Flow Low	12.78	7.25	17.44	7.31	5.26	-14.68	-5.43	4.22	-6.82	-3.01	47.44	-7.86	26.07	-9.11	7.29
EV/Sales Average	1.52	0.88	0.7	1.28	0.49	0.43	0.34	0.3	0.71	0.87	1.67	0.59	0.77	1	1.78
EV/Sales High	2.59	1.36	1.72	2.24	0.92	0.65	0.51	0.57	2.08	7.32	6.64	1.01	1.42	1.32	3.81
EV/Sales Low	0.68	0.55	0.48	0.83	0.26	0.26	0.18	0.2	0.29	- -	0.18	0.29	0.45	0.79	0.58
EV/EBITDA Average	11.27	10.34	6.98	39.81	-194.62	-4.23	-6.17	13.14	-3.31	-5.99	-54.16	-14.63	-9	-5.91	-15.88
EV/EBITDA High	19.25	15.98	17.12	69.46	-366.77	-6.41	-9.33	25.26	-9.78	-50.18	-215.35	-24.97	-16.65	-7.8	-34.06
EV/EBITDA Low	5.06	6.5	4.81	25.65	-103.12	-2.59	-3.4	8.76	-1.36	0.39	-5.72	-7.14	-5.21	-4.7	-5.22
EV/EBIT Average	15.99	16.48	9.62	-57.42	-9.46	-2.79	-3.8	39.2	-2.87	-4.76	-27.21	-10.42	-7.84	-5.33	-12.87
EV/EBIT High	27.31	25.47	23.56	-100.19	-17.82	-4.23	-5.75	75.37	-8.48	-39.9	-108.18	-17.78	-14.51	-7.04	-27.59
EV/EBIT Low	7.17	10.36	6.63	-37	-5.01	-1.71	-2.1	26.13	-1.18	0.31	-2.88	-5.08	-4.54	-4.24	-4.23
Last Price	6.58	4.2	7.09	3.83	1.89	1.15	1.12	1.19	0.95	3.88	1.4	1.27	1.05	1.05	1.56
High Price	11.2	6.91	9.63	8.5	3.86	2.05	1.31	1.83	3.06	7.04	6.65	1.66	1.83	1.34	3.65
Enterprise Value Average	142	86	77	101	36	24	15	17	22	20	41	16	21	25	47
Enterprise Value High	243	132	189	177	67	36	23	32	64	165	161	27	39	33	102
Enterprise Value Low	64	54	53	65	19	15	8	11	9	-1	4	8	12	20	16

Shares Outstanding	24	22	23	23	23	23	24	24	25	25	30	30	30	31	31
Diluted Weighted Avg Shares	25	24	23	23	23	23	24	24	24	25	30	30	30	31	31
Basic Weighted Avg Shares	24	23	22	23	23	23	24	24	24	25	30	30	30	31	31
Revenue per Share	3.89	4.3	4.91	3.47	3.19	2.36	1.89	2.34	1.26	0.91	0.82	0.89	0.89	0.82	0.86
EBITDA per Share	0.52	0.37	0.49	0.11	-0.01	-0.24	-0.1	0.05	-0.27	-0.13	-0.03	-0.04	-0.08	-0.14	-0.1
Operating Income per Share	0.37	0.23	0.36	-0.08	-0.16	-0.36	-0.17	0.02	-0.31	-0.17	-0.05	-0.05	-0.09	-0.15	-0.12
Basic EPS, GAAP	0.26	0.12	0.23	-0.78	-0.54	-0.74	-0.44	- -	-0.32	-0.17	- -	-0.05	-0.05	-0.06	-0.08
Basic EPS from Cont Ops	0.26	0.12	0.23	-0.78	-0.41	-0.62	-0.27	- -	-0.32	-0.17	- -	-0.05	-0.05	-0.06	-0.08
Diluted EPS, GAAP	0.25	0.12	0.23	-0.78	-0.54	-0.74	-0.44	- -	-0.32	-0.17	- -	-0.05	-0.05	-0.06	-0.08
Diluted EPS from Cont Ops	0.25	0.12	0.23	-0.78	-0.41	-0.62	-0.27	- -	-0.32	-0.17	- -	-0.05	-0.05	-0.06	-0.08
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	0.2	0.38	0.13	0.24	0.3	-0.12	-0.15	0.2	-0.14	-0.11	0.03	-0.14	0.02	-0.11	0.1
Free Cash Flow per Basic Share	0.1	0.27	0.05	-0.02	0.27	-0.16	-0.17	0.18	-0.16	-0.12	0.02	-0.14	0.01	-0.12	0.08
Cash & Equivalents per Share	1.17	1.08	1.25	0.82	0.94	0.51	0.35	0.5	0.45	0.43	1.21	0.87	0.98	0.61	0.8
Book Value per Share	-1.82	-2.15	-1.97	-2.7	-3.2	-3.91	-4.29	-4.23	-4.55	-4.63	-3.86	-3.82	-3.86	-3.9	-3.93
Tangible Book Value per Share	2.59	2.57	2.84	2.62	2.15	1.69	1.27	1.27	0.96	0.8	1.47	1.4	1.36	1.29	1.2

Fuel Tech, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)