Grand River Commerce, Inc. Financial Ratios — GNRV Stock

Profitability (USD)

	2007 Y	2008 Y	2009 Y	2010 Y	2011 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 (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	75.3	-43.67	- -	- -	- -
Return on Assets (%)	- -	-646.32	-10.7	-3.33	-1.16	1.85	0.19	0.49	0.53	0.78	0.7	-0.43	-1.35	-0.1	0.12
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 (%)	-11,524.87	2,080.05	-928.16	-100.34	4.17	2.09	2.14	2.21	1.66	1.1	1.61	3.33	3.58	3.01	2.61
Operating Margin (%)	-11,594.83	2,128.66	-967.69	-107.35	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	685.32	- -	- -	137.92	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	- -	- -	- -	- -	- -	11.48	16.68	17.39	18.4	24.92	25.35	10.91	-11.36	-4.17	6.19
Profit Margin (%)	-11,594.83	2,128.66	-967.69	-107.33	-33.92	33.1	5.03	13.66	14.43	19.5	19.82	-13.67	-55.28	-3.96	4.81
Net Income to Common Margin (%)	-11,594.83	2,128.66	-967.69	-107.33	-33.92	33.1	5.03	13.66	14.43	19.5	19.82	-13.67	-55.28	-3.96	4.81
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	69.87	21.45	21.58	21.74	21.82	18.56	- -	- -	21.15
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	75.3	-43.67	- -	- -	- -

Credit (USD)

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	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	1	3	- -	- -	- -	5	15	8	21	12	13	23	50	51	33
ST Debt	- -	1	- -	- -	- -	5	8	8	10	- -	- -	- -	- -	- -	- -
LT Debt	1	1	- -	- -	- -	- -	8	- -	10	12	13	23	50	51	33
Total Debt/EBITDA	-2.36	-3.17	- -	- -	- -	31.06	87.72	39.27	118.64	73.06	46.37	42.62	105.42	128.2	96.18
Net Debt/EBITDA	-2.31	-3.12	5.35	3.06	-64.76	-32.42	8.51	-47.86	0.22	-354.01	-263.21	-44.68	58.95	69.13	-38.95
Total Debt/EBIT	-2.35	-3.1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	-2.3	-3.05	5.14	2.86	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-637.36	-907.27	-10.31	-8.58	-6.54	-1.76	-1.35	-0.69	-0.09	0.61	1.24	0.73	-0.62	-0.75	-0.64
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	20.82	- -	26.85	29.58	27.55	52.63	139.96	145.79	91.36
Long-Term Debt/Capital (%)	159.89	111.49	- -	- -	- -	- -	62.55	- -	50.69	81.98	67.37	85.28	107.34	108.35	111.02
Long-Term Debt/Total Assets (%)	1,034.46	782.85	- -	- -	- -	- -	3.36	- -	3.27	2.76	2.56	4.25	9.08	9.73	6.41
Total Debt/Equity (%)	-107.63	-103.51	- -	- -	- -	22.63	41.64	20.12	53.7	29.58	27.55	52.63	139.96	145.79	91.36
Total Debt/Capital (%)	198.51	229.21	- -	- -	- -	321.75	125.09	132.18	101.38	81.98	67.37	85.28	107.34	108.35	111.02
Total Debt/Total Assets (%)	1,284.33	1,609.45	- -	- -	- -	2.55	6.71	2.84	6.54	2.76	2.56	4.25	9.08	9.73	6.41
Net Debt to Equity	-105.3	-101.92	-66.98	-35.3	-58.73	-23.63	4.04	-24.52	0.1	-143.3	-156.41	-55.17	78.27	78.61	-37
Net Debt/Capital (%)	202.92	233.9	72.82	46.67	53.87	60.24	-93.75	83.35	-15.85	104.75	109.33	119.71	113.92	116.67	80.31
EBITDA	-1	-1	-2	-1	- -	- -	- -	- -	- -	- -	- -	1	- -	- -	- -
EBITDA-CapEx	-1	-1	-2	-1	- -	- -	- -	- -	- -	-1	-1	- -	- -	- -	- -
Operating Income (Loss)	-1	-1	-2	-1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2007 Y	2008 Y	2009 Y	2010 Y	2011 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	-637.36	-907.27	-10.31	-8.58	-6.54	-1.76	-1.35	-0.69	-0.09	0.61	1.24	0.73	-0.62	-0.75	-0.64
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	20.82	- -	26.85	29.58	27.55	52.63	139.96	145.79	91.36
Long-Term Debt/Capital (%)	159.89	111.49	- -	- -	- -	- -	62.55	- -	50.69	81.98	67.37	85.28	107.34	108.35	111.02
Long-Term Debt/Total Assets (%)	1,034.46	782.85	- -	- -	- -	- -	3.36	- -	3.27	2.76	2.56	4.25	9.08	9.73	6.41
Total Debt/Equity (%)	-107.63	-103.51	- -	- -	- -	22.63	41.64	20.12	53.7	29.58	27.55	52.63	139.96	145.79	91.36
Total Debt/Capital (%)	198.51	229.21	- -	- -	- -	321.75	125.09	132.18	101.38	81.98	67.37	85.28	107.34	108.35	111.02
Total Debt/Total Assets (%)	1,284.33	1,609.45	- -	- -	- -	2.55	6.71	2.84	6.54	2.76	2.56	4.25	9.08	9.73	6.41
CFO/Total Liabilities	-42.19	-28.44	-10.63	-1.5	-0.27	1.56	1.53	0.55	-0.21	0.32	2.36	-0.28	-2.12	0.48	0.25
CFO/CapEx	-8.27	-11.61	-7.83	-55.73	-1.4	15.44	17.28	12.82	-3.76	1.53	7.18	-2.07	-3,626.33	83.61	15.04
Altman's Z-Score	-26.93	-30.1	0.26	0.04	0.05	0.1	0.14	0.13	0.11	0.09	0.12	0.09	0.04	0.04	0.05

Working Capital (USD)

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	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	- -	-5.01	2.43	7.61	9.06	17.46	12.33	9.11	8.62	10.77	6.13	4	3.04	5.78	- -
Days Sales Outstanding	- -	-72.9	150.41	47.94	40.3	20.91	29.6	40.06	42.33	33.88	59.54	91.25	119.89	63.15	- -
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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	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	- -	- -	17	15	14	24	38	42	39	34	51	38	24	20	27
- Cash & Cash Equivalents	- -	- -	8	4	6	10	14	17	21	73	84	46	22	24	47
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	1	3	- -	- -	- -	5	15	8	21	12	13	23	50	51	33
Enterprise Value	1	3	9	11	8	14	36	26	33	-34	-39	- -	38	35	-3
Total Capital	1	1	-3	-4	-5	2	12	6	21	15	19	26	46	47	30
Total Debt/Capital (%)	198.51	229.21	- -	- -	- -	321.75	125.09	132.18	101.38	81.98	67.37	85.28	107.34	108.35	111.02
Total Debt / EV	1.02	1.02	- -	- -	- -	0.35	0.42	0.29	0.63	-0.37	-0.32	-59.57	1.31	1.45	-9.58
EV/Sales	266.31	- -	52.49	9	3.33	1.83	4.47	2.99	3.1	- -	- -	- -	2.89	2.66	- -
EV/EBITDA	- -	- -	- -	- -	79.94	87.85	208.69	135.42	186.95	- -	- -	- -	80.64	88.3	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	5.2	12.44	20.79	- -	- -	- -	- -	- -	15.01	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	4.89	11.76	19.29	- -	- -	- -	- -	- -	14.83	- -
Diluted Market Cap	- -	- -	17	15	14	27	41	44	41	36	53	39	24	20	27
Diluted Enterprise Value	1	3	9	11	8	22	42	35	41	-25	-18	15	52	48	13
EV per Share	0.74	1.53	5.14	6.71	4.42	3.48	5.52	3.86	4.92	- -	- -	- -	5.42	4.99	- -
TTM Sales	- -	- -	- -	1	2	8	8	9	11	16	17	16	13	13	13
TTM EBITDA	-1	-1	-2	-1	- -	- -	- -	- -	- -	- -	- -	1	- -	- -	- -
TTM Operating Income	-1	-1	-2	-1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	- -	- -	- -	- -	- -	3	3	1	-1	1	10	-1	-11	2	1
TTM Free Cash Flow to Firm	- -	- -	- -	- -	- -	3	3	1	- -	2	12	-1	-11	2	1

Multiples (USD)

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	2007 Y	2008 Y	2009 Y	2010 Y	2011 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	- -	- -	-10.43	-25.42	-256.62	9.29	13.45	33.02	-93.27	16.36	4.47	-54.02	-2.22	8.47	21.17
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	1	3	9	11	8	14	36	26	33	-34	-39	- -	38	35	-3
Low Price	- -	- -	10	8.1	7.27	4.75	5.25	5.85	5.6	4.2	5.05	5.4	3.12	2.52	2.85
EV/Sales	266.31	- -	52.49	9	3.33	1.83	4.47	2.99	3.1	- -	- -	- -	2.89	2.66	- -
EV/EBITDA	- -	- -	- -	- -	79.94	87.85	208.69	135.42	186.95	- -	- -	- -	80.64	88.3	- -
Price/Earnings	- -	- -	- -	- -	- -	9.56	95.66	35.38	25.1	11.22	15.26	- -	- -	- -	42.17
Price/Earnings Average	- -	- -	-10.56	-11.92	-19.55	8.49	95.48	34.33	28.61	11.35	14.23	-20.48	-4.2	-39.51	41.31
Price/Earnings High	- -	- -	-10.56	-12.49	-21.11	9.87	100.82	42.52	35.36	14.11	15.77	-23.7	-5.78	-46.3	49.69
Price/Earnings Low	- -	- -	-10.56	-10.12	-16.16	7.57	84.69	33.17	24.45	9.33	10.28	-17.29	-3.01	-33.92	31.54
Price/Book Value	- -	- -	-5.51	-3.44	-2.61	-7.08	-12.75	-22.92	-135.72	12.38	8.35	9.84	-7.08	-5.1	-8.14
Price/Book Value Average	- -	- -	-5.51	-3.65	-2.87	-6.29	-12.72	-22.24	-154.71	12.53	7.78	11.44	-8.99	-5.26	-7.97
Price/Book Value High	- -	- -	-5.51	-3.82	-3.1	-7.32	-13.44	-27.55	-191.19	15.57	8.63	13.24	-12.39	-6.16	-9.59
Price/Book Value Low	- -	- -	-5.51	-3.1	-2.37	-5.61	-11.29	-21.49	-132.18	10.3	5.62	9.66	-6.44	-4.51	-6.09
Price/Tangible Book Value	- -	- -	1.38	1.39	1.31	1.1	1.06	1.12	0.99	0.8	1.11	0.89	0.68	0.57	0.74
Price/Tangible Book Value Average	- -	- -	1.38	1.47	1.44	0.98	1.06	1.09	1.13	0.81	1.04	1.04	0.86	0.59	0.72
Price/Tangible Book Value High	- -	- -	1.38	1.54	1.56	1.14	1.12	1.35	1.39	1.01	1.15	1.2	1.19	0.69	0.87
Price/Tangible Book Value Low	- -	- -	1.38	1.25	1.19	0.87	0.94	1.05	0.96	0.67	0.75	0.88	0.62	0.51	0.55
Price/Sales	- -	- -	102.18	12.07	6.03	3.16	4.81	4.83	3.62	2.19	3.02	2.41	1.83	1.52	2.03
Price/Sales Average	- -	- -	102.18	12.79	6.63	2.81	4.8	4.69	4.13	2.21	2.82	2.8	2.32	1.57	1.99
Price/Sales High	- -	- -	102.18	13.41	7.16	3.27	5.07	5.81	5.1	2.75	3.13	3.24	3.2	1.83	2.39
Price/Sales Low	- -	- -	102.18	10.86	5.48	2.5	4.26	4.53	3.53	1.82	2.04	2.36	1.66	1.34	1.52
Price/Cash Flow	- -	- -	-9.1	-24.96	-73.52	8.98	13.37	33.64	-65.12	25.7	4.84	-27.73	-2.22	8.57	22.57
Price/Cash Flow Average	- -	- -	-9.1	-26.46	-80.85	7.98	13.35	32.64	-74.23	26.01	4.51	-32.25	-2.82	8.83	22.11
Price/Cash Flow High	- -	- -	-9.1	-27.73	-87.3	9.28	14.09	40.44	-91.73	32.32	5	-37.31	-3.88	10.34	26.6
Price/Cash Flow Low	- -	- -	-9.1	-22.46	-66.81	7.11	11.84	31.54	-63.42	21.37	3.26	-27.22	-2.02	7.58	16.89
Price/Free Cash Flow Average	- -	- -	-10.43	-26.95	-282.2	8.25	13.43	32.04	-106.32	16.56	4.17	-62.82	-2.82	8.72	20.74
Price/Free Cash Flow High	- -	- -	-10.43	-28.24	-304.74	9.6	14.18	39.68	-131.39	20.57	4.62	-72.68	-3.88	10.22	24.94
Price/Free Cash Flow Low	- -	- -	-10.43	-22.88	-233.21	7.35	11.91	30.95	-90.84	13.61	3.01	-53.04	-2.02	7.49	15.83
EV/Sales Average	266.31	- -	52.49	9.72	3.93	2.13	4.98	3.63	4.13	- -	- -	1.31	4.43	3.65	0.97
EV/Sales High	266.31	- -	52.49	10.34	4.46	2.59	5.25	4.75	5.11	- -	- -	1.75	5.31	3.92	1.37
EV/Sales Low	266.31	- -	52.49	7.79	2.78	1.83	4.44	3.48	3.53	- -	- -	0.88	3.77	3.43	0.5
EV/EBITDA Average	-2.31	-3.12	-5.66	-9.69	94.36	102.29	232.42	164.75	249.33	-152.78	-88.38	39.5	123.72	121.05	37.2
EV/EBITDA High	-2.31	-3.12	-5.66	-10.3	107.07	124.22	244.94	215.51	308.08	-104	-69.48	52.72	148.23	129.97	52.66
EV/EBITDA Low	-2.31	-3.12	-5.66	-7.76	66.73	87.59	207.11	157.57	213.06	-188.65	-136.97	26.39	105.38	113.7	19.2
EV/EBIT Average	-2.3	-3.05	-5.42	-9.06	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	-2.3	-3.05	-5.42	-9.63	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	-2.3	-3.05	-5.42	-7.26	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	- -	- -	10	9	8	6	5.93	6.24	5.75	5.05	7.5	5.5	3.43	2.85	3.81
High Price	- -	- -	10	10	9.5	6.2	6.25	7.5	8.1	6.35	7.75	7.4	6	3.44	4.49
Enterprise Value Average	1	3	9	12	9	16	40	31	44	-26	-24	21	59	48	13
Enterprise Value High	1	3	9	13	10	20	42	41	55	-18	-19	28	70	52	18
Enterprise Value Low	1	3	9	10	6	14	35	30	38	-32	-37	14	50	45	7

	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	2	2	2	2	2	- -	- -	7	7	7	7	7	7	7	7
Diluted Weighted Avg Shares	2	2	2	2	2	4	7	7	7	7	7	7	7	7	7
Basic Weighted Avg Shares	2	2	2	2	2	4	6	7	7	7	7	7	7	7	7
Revenue per Share	- -	-0.02	0.1	0.75	1.33	1.9	1.23	1.29	1.59	2.31	2.48	2.28	1.88	1.88	1.88
EBITDA per Share	-0.32	-0.49	-0.91	-0.75	0.06	0.04	0.03	0.03	0.03	0.03	0.04	0.08	0.07	0.06	0.05
Operating Income per Share	-0.32	-0.5	-0.95	-0.8	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	-0.32	-0.5	-0.95	-0.8	-0.45	0.63	0.06	0.18	0.23	0.45	0.49	-0.31	-1.04	-0.07	0.09
Basic EPS from Cont Ops	-0.32	-0.5	-0.95	-0.8	-0.45	0.63	0.06	0.18	0.23	0.45	0.49	0.2	-0.17	-0.06	0.09
Diluted EPS, GAAP	-0.32	-0.5	-0.95	-0.8	-0.45	0.57	0.06	0.17	0.22	0.43	0.47	-0.31	-1.04	-0.07	0.09
Diluted EPS from Cont Ops	-0.32	-0.5	-0.95	-0.8	-0.45	0.57	0.06	0.17	0.22	0.43	0.47	0.2	-0.17	-0.06	0.09
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	-0.32	-0.46	-1.1	-0.36	-0.11	0.67	0.44	0.19	-0.09	0.2	1.55	-0.2	-1.55	0.33	0.17
Free Cash Flow per Basic Share	-0.36	-0.49	-1.24	-0.37	-0.19	0.62	0.42	0.17	-0.11	0.07	1.33	-0.29	-1.55	0.33	0.16
Cash & Equivalents per Share	0.02	0.02	4.86	2.29	3.58	3.75	2.73	3.5	3.95	11.96	15.07	8.79	5.1	5.11	9.02
Book Value per Share	-0.38	-0.88	-1.82	-2.62	-3.07	-0.85	-0.47	-0.27	-0.04	0.41	0.9	0.56	-0.48	-0.56	-0.47
Tangible Book Value per Share	-0.7	-1.5	7.26	6.48	6.1	5.43	5.57	5.56	5.81	6.27	6.73	6.15	5.06	4.97	5.16

Grand River Commerce, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)