Granite Falls Energy, LLC Financial Ratios — GFGY Stock

Profitability (USD)

	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	- -	38.75	0.26	11.54	38.66	10.38	7.17	9.24	2.35	-7.53	-11.95	18.1
Return on Capital (%)	- -	- -	7.59	39.46	110.12	38.13	23.64	27.09	8.83	- -	- -	45.49
Return on Invested Capital (%)	- -	48.9	0.01	13.79	49.94	14.27	10.3	13.1	2.95	- -	- -	16.71
Gross Margin (%)	10.64	9.05	1.4	6.26	21.11	9.77	7.84	9.78	4.56	-1.81	-6.72	8.65
EBITDA Margin (%)	15.87	10.32	2.38	7.4	22.47	11.71	9.86	11.26	5.96	-0.41	-6.27	8.41
Operating Margin (%)	8.59	7.77	- -	4.92	19.4	7.53	5.37	6.92	1.57	-4.92	-11.92	6.02
Incremental Operating Margin (%)	- -	6.5	-65.24	22.54	61.59	58.75	37.2	1,310.9	212.62	- -	- -	26.47
Pretax Margin (%)	8.78	7.85	0.09	4.71	19.63	7.33	5.21	7.01	1.61	-5.28	-12.47	8.41
Profit Margin (%)	8.78	7.85	0.09	4.48	16.21	5.88	4.05	5.32	1.36	-4.02	-8.05	7.64
Net Income to Common Margin (%)	8.78	7.85	0.09	4.48	16.21	5.88	4.05	5.32	1.36	-4.02	-8.05	7.64
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	54.99	74.82	5,726.28	- -	7.94	158.25	70.2	59.56	302.92	-8.97	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y
Total Debt	- -	- -	5	36	3	9	4	9	8	8	39	48
ST Debt	- -	- -	- -	3	1	2	2	- -	1	1	17	9
LT Debt	- -	- -	5	33	2	7	1	8	8	7	22	40
Total Debt/EBITDA	- -	- -	1.29	2.2	0.04	0.33	0.18	0.37	0.67	-9.29	-3.76	1.86
Net Debt/EBITDA	- -	-0.81	1.13	2.13	-0.36	-0.13	-0.47	-0.53	-0.51	6.32	-0.78	0.13
Total Debt/EBIT	- -	- -	1,232.47	3.31	0.05	0.52	0.32	0.6	2.56	-0.78	-1.98	2.6
Net Debt/EBIT	- -	-1.07	1,075.64	3.2	-0.42	-0.21	-0.87	-0.85	-1.95	0.53	-0.41	0.18
EBITDA to Interest Expense	1,413.15	3,706.74	94.66	38.71	139.39	51.56	46.88	75.03	24.49	-1.66	-18.73	32.45
EBITDA-CapEx/Interest Expense	1,344	3,706.74	15.87	38.71	139.39	51.56	46.88	75.03	24.49	-1.66	-18.73	32.45
EBIT to Interest Expense	764.71	2,791.5	0.1	25.76	120.29	33.18	25.53	46.13	6.45	-19.75	-35.58	23.23
Interest Expense	- -	- -	- -	- -	- -	1	- -	- -	1	1	1	1
Common Equity/Total Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Equity (%)	- -	- -	10.58	48.24	1.68	6.32	1.32	7.72	8.05	7.84	34.95	53.74
Long-Term Debt/Capital (%)	- -	- -	97.87	73.37	8.2	21.92	5.4	24.51	25.74	24.36	44.43	82.03
Long-Term Debt/Total Assets (%)	- -	- -	8.63	29.27	1.51	5.5	1.15	6.66	6.67	6.26	18.62	27.37
Total Debt/Equity (%)	- -	- -	10.81	53.35	2.35	8.54	3.55	8.12	8.73	9.5	62.86	65.51
Total Debt/Capital (%)	- -	- -	100	81.13	11.48	29.61	14.53	25.76	27.91	29.51	79.91	100
Total Debt/Total Assets (%)	- -	- -	8.82	32.37	2.12	7.43	3.09	7	7.24	7.59	33.48	33.36
Net Debt to Equity	- -	-26.25	9.43	51.65	-19.25	-3.42	-9.5	-11.64	-6.65	-6.47	13.09	4.56
Net Debt/Capital (%)	- -	100	100	80.64	1,693.12	-20.25	-83.67	-99.04	-41.82	-39.86	21.74	17.63
EBITDA	15	16	4	17	68	27	21	24	13	-1	-10	26
EBITDA-CapEx	14	16	1	17	68	27	21	24	13	-1	-10	26
Operating Income (Loss)	8	12	- -	11	58	17	12	15	3	-10	-20	19

Liquidity (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y
Cash Ratio	- -	0.95	0.11	0.1	2.35	1.39	0.96	2.41	1.23	1.01	0.37	0.98
Current Ratio	- -	2.01	3.45	1.9	4.27	3.89	2.81	5.03	3.18	2.71	1.01	2.16
Quick Ratio	- -	1.23	1.34	0.67	3.15	2.45	1.43	3.26	1.83	1.57	0.47	1.38
CFO/Avg Current Liab	- -	1.74	-0.1	2.62	5.75	2.41	1.94	2.04	1.46	0.15	-0.16	0.65
Common Equity/Total Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Equity (%)	- -	- -	10.58	48.24	1.68	6.32	1.32	7.72	8.05	7.84	34.95	53.74
Long-Term Debt/Capital (%)	- -	- -	97.87	73.37	8.2	21.92	5.4	24.51	25.74	24.36	44.43	82.03
Long-Term Debt/Total Assets (%)	- -	- -	8.63	29.27	1.51	5.5	1.15	6.66	6.67	6.26	18.62	27.37
Total Debt/Equity (%)	- -	- -	10.81	53.35	2.35	8.54	3.55	8.12	8.73	9.5	62.86	65.51
Total Debt/Capital (%)	- -	- -	100	81.13	11.48	29.61	14.53	25.76	27.91	29.51	79.91	100
Total Debt/Total Assets (%)	- -	- -	8.82	32.37	2.12	7.43	3.09	7	7.24	7.59	33.48	33.36
CFO/Total Liabilities	- -	86.84	-8.46	51.27	481.24	157.47	144.89	136.57	77.09	9.2	-6.72	27.9
CFO/CapEx	19.02	- -	-0.28	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	- -	3.36	3.15	2.45	9.13	6.71	5.29	5.72	5.14	3.65	1.47	3.15

Working Capital (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y
Accounts Receivable Turnover	- -	82.87	31.46	32.46	38.26	24.41	26.41	30.23	28.14	28.3	30.51	40.17
Days Sales Outstanding	- -	4.4	11.6	11.24	9.54	14.95	13.82	12.08	12.97	12.9	11.96	9.09
Inventory Turnover	- -	33.05	16.74	17.23	20.56	18.19	13	11.59	13.31	14.8	12.76	16.38
Days Inventory Outstanding	- -	11.05	21.8	21.18	17.75	20.06	28.07	31.48	27.42	24.66	28.61	22.29
Accounts Payable Turnover	- -	189.77	68.81	63.9	42.31	33.02	39.88	29.12	22.81	19.95	15	18.26
Accounts Payable Turnover Days	- -	1.92	5.3	5.71	8.63	11.05	9.15	12.54	16	18.3	24.33	19.99
Cash Conversion Cycle	- -	13.53	28.09	26.71	18.67	23.96	32.74	31.02	24.39	19.26	16.25	11.39
Inventory to Cash Days	- -	-6.64	-10.2	-9.94	-8.21	-5.11	-14.25	-19.41	-14.45	-11.76	-16.64	-13.2
Inventories	- -	9	12	12	11	12	18	15	15	14	14	21
Raw Materials	- -	6	10	6	7	7	12	7	7	7	8	14
Work In Process	- -	1	1	2	1	1	1	1	1	1	1	2
Finished Goods	- -	2	1	4	2	4	5	7	6	6	4	5
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y
Market Capitalization	- -	- -	- -	- -	119	107	77	95	98	61	55	37
- Cash & Cash Equivalents	- -	13	1	1	27	13	14	22	15	14	11	29
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	8	23	22	22	26	22	19	10	- -
+ Total Debt	- -	- -	5	36	3	9	4	9	8	8	39	48
Enterprise Value	- -	-13	5	44	118	125	89	108	113	75	92	56
Total Capital	- -	- -	5	45	26	31	26	35	30	27	49	48
Total Debt/Capital (%)	- -	- -	100	81.13	11.48	29.61	14.53	25.76	27.91	29.51	79.91	100
Total Debt / EV	- -	- -	1.15	0.83	0.03	0.07	0.04	0.08	0.07	0.11	0.42	0.87
EV/Sales	- -	- -	0.03	0.2	0.39	0.54	0.41	0.5	0.54	0.36	0.56	0.18
EV/EBITDA	- -	- -	1.13	2.64	1.74	4.62	4.16	4.44	9.04	- -	- -	2.15
EV/EBIT	- -	- -	1,075.64	3.97	2.02	7.18	7.65	7.22	34.34	- -	- -	3
EV/Cash Flow to Firm	- -	- -	- -	1.89	1.78	4.91	3.81	4.46	7.14	30.13	- -	2.7
EV/Free Cash Flow to Firm	- -	- -	1.84	1.89	1.78	4.91	3.81	4.46	7.14	30.13	- -	2.7
Diluted Market Cap	- -	- -	- -	- -	119	107	77	95	98	61	55	37
Diluted Enterprise Value	- -	-13	5	44	118	125	89	108	113	75	92	56
EV per Share	- -	- -	153.65	1,430.92	3,853.2	4,085.73	2,892.35	3,520.98	3,703.31	2,448.9	3,017.55	1,824.96
TTM Sales	95	157	175	224	301	231	216	216	210	209	165	310
TTM EBITDA	15	16	4	17	68	27	21	24	13	-1	-10	26
TTM Operating Income	8	12	- -	11	58	17	12	15	3	-10	-20	19
TTM Cash Flow to Firm	14	12	-1	23	66	25	23	24	16	2	-3	21
TTM Free Cash Flow to Firm	15	12	3	23	66	25	23	24	16	2	-3	21

Multiples (USD)

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	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y
Price/Free Cash Flow	- -	- -	- -	- -	1.81	4.29	3.36	3.98	6.37	31.12	-15.11	1.85
EV/EBIT	- -	- -	1,075.64	3.97	2.02	7.18	7.65	7.22	34.34	- -	- -	3
Enterprise Value	- -	-13	5	44	118	125	89	108	113	75	92	56
Low Price	- -	- -	- -	- -	1,550	2,500	2,500	2,450	3,100	2,000	1,800	1,200
EV/Sales	- -	- -	0.03	0.2	0.39	0.54	0.41	0.5	0.54	0.36	0.56	0.18
EV/EBITDA	- -	- -	1.13	2.64	1.74	4.62	4.16	4.44	9.04	- -	- -	2.15
Price/Earnings	- -	- -	- -	- -	2.45	7.88	8.77	8.26	34.19	- -	- -	1.55
Price/Earnings Average	- -	- -	- -	- -	1.47	7.07	10.62	7.37	34.32	-10.55	-4.22	1.87
Price/Earnings High	- -	- -	- -	- -	2.45	8.79	12.37	8.26	37.4	-11.67	-4.61	2.33
Price/Earnings Low	- -	- -	- -	- -	0.97	5.63	8.77	6.53	33.13	-7.3	-4.15	1.55
Price/Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value	- -	- -	- -	- -	0.96	1.02	0.73	0.88	1.02	0.73	0.89	0.5
Price/Tangible Book Value Average	- -	- -	- -	- -	0.57	0.92	0.89	0.78	1.03	1.06	0.9	0.6
Price/Tangible Book Value High	- -	- -	- -	- -	0.96	1.14	1.03	0.88	1.12	1.18	0.99	0.75
Price/Tangible Book Value Low	- -	- -	- -	- -	0.38	0.73	0.73	0.69	0.99	0.73	0.89	0.5
Price/Sales	- -	- -	- -	- -	0.4	0.46	0.36	0.44	0.47	0.29	0.33	0.12
Price/Sales Average	- -	- -	- -	- -	0.24	0.42	0.43	0.39	0.47	0.42	0.34	0.14
Price/Sales High	- -	- -	- -	- -	0.4	0.52	0.5	0.44	0.51	0.47	0.37	0.18
Price/Sales Low	- -	- -	- -	- -	0.16	0.33	0.36	0.35	0.45	0.29	0.33	0.12
Price/Cash Flow	- -	- -	- -	- -	1.81	4.29	3.36	3.98	6.37	31.12	-15.11	1.85
Price/Cash Flow Average	- -	- -	- -	- -	1.09	3.85	4.07	3.56	6.4	45.01	-15.35	2.22
Price/Cash Flow High	- -	- -	- -	- -	1.81	4.78	4.73	3.98	6.97	49.79	-16.78	2.77
Price/Cash Flow Low	- -	- -	- -	- -	0.72	3.07	3.36	3.15	6.17	31.12	-15.11	1.85
Price/Free Cash Flow Average	- -	- -	- -	- -	1.09	3.85	4.07	3.56	6.4	45.01	-15.35	2.22
Price/Free Cash Flow High	- -	- -	- -	- -	1.81	4.78	4.73	3.98	6.97	49.79	-16.78	2.77
Price/Free Cash Flow Low	- -	- -	- -	- -	0.72	3.07	3.36	3.15	6.17	31.12	-15.11	1.85
EV/Sales Average	- -	- -	0.03	0.2	0.23	0.49	0.49	0.45	0.54	0.49	0.57	0.2
EV/Sales High	- -	- -	0.03	0.2	0.39	0.59	0.56	0.5	0.58	0.53	0.6	0.24
EV/Sales Low	- -	- -	0.03	0.2	0.15	0.41	0.41	0.41	0.52	0.36	0.56	0.18
EV/EBITDA Average	- -	-0.81	1.13	2.64	1.04	4.21	4.92	4.02	9.07	-118.1	-9.01	2.43
EV/EBITDA High	- -	-0.81	1.13	2.64	1.74	5.07	5.64	4.44	9.77	-128.97	-9.52	2.85
EV/EBITDA Low	- -	-0.81	1.13	2.64	0.68	3.49	4.16	3.62	8.79	-86.56	-8.93	2.15
EV/EBIT Average	- -	-1.07	1,075.64	3.97	1.2	6.55	9.04	6.54	34.45	-9.95	-4.74	3.4
EV/EBIT High	- -	-1.07	1,075.64	3.97	2.02	7.88	10.36	7.22	37.12	-10.87	-5.01	3.98
EV/EBIT Low	- -	-1.07	1,075.64	3.97	0.79	5.42	7.65	5.88	33.41	-7.29	-4.7	3
Last Price	- -	- -	- -	- -	3,900	3,500	2,500	3,100	3,200	2,000	1,800	1,200
High Price	- -	- -	- -	- -	3,900	3,900	3,525	3,100	3,500	3,200	2,000	1,800
Enterprise Value Average	- -	-13	5	44	70	114	105	98	114	102	93	63
Enterprise Value High	- -	-13	5	44	118	137	120	108	123	112	98	74
Enterprise Value Low	- -	-13	5	44	46	94	89	88	110	75	92	56

	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y
Shares Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Revenue per Share	3,108.35	5,105.74	5,721.63	7,322.12	9,833.2	7,555.86	7,041.96	7,050.33	6,871.61	6,821.44	5,389.59	10,116.17
EBITDA per Share	493.42	526.94	136.06	541.85	2,209.97	884.62	694.46	793.61	409.81	-28.29	-338.07	850.73
Operating Income per Share	267.01	396.83	0.14	360.54	1,907.17	569.31	378.15	487.86	107.86	-335.77	-642.29	609.07
Basic EPS, GAAP	272.78	400.96	5.25	327.78	1,593.61	443.92	285	375.26	93.58	-274.16	-433.85	772.96
Basic EPS from Cont Ops	272.78	400.96	5.25	344.99	1,930.68	553.71	366.86	494.07	110.32	-360.1	-672.02	850.48
Diluted EPS, GAAP	272.78	400.96	5.25	327.78	1,593.61	443.92	285	375.26	93.58	-274.16	-433.85	772.96
Diluted EPS from Cont Ops	272.78	400.96	5.25	344.99	1,930.68	553.71	366.86	494.07	110.32	-360.1	-672.02	850.48
Dividend per Share	150	300	300.41	- -	180	1,050	315	365	384.86	40	- -	- -
Cash Flow per Share	459.27	387.51	-31.16	742.2	2,152.94	815.59	744.7	778.45	502.05	64.27	-119.16	649.11
Free Cash Flow per Basic Share	435.13	387.51	-144.42	742.2	2,152.94	815.59	744.7	778.45	502.05	64.27	-119.16	649.11
Cash & Equivalents per Share	- -	426.17	22.4	37.86	889.01	414.84	450.82	707.65	486.87	441.8	373.24	957.19
Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Tangible Book Value per Share	- -	1,623.21	1,628.51	2,188.97	4,071.02	3,423.74	3,410.04	3,537.59	3,122.18	2,722.08	2,022.21	2,415.27

Granite Falls Energy, LLC

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)