Global Payment Technologies Inc. Financial Ratios — GPTX

Profitability (USD)

	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
As of date	09/30/1995	09/30/1996	09/30/1997	09/30/1998	09/30/1999	09/30/2000	09/30/2001	09/30/2002	09/30/2003	09/30/2004	09/30/2005	09/30/2006	09/30/2007

Return on Common Equity (%)	- -	40	90.91	82.93	51.28	-13.41	9.02	-7.01	-96.72	-77.29	-54.13	- -	- -
Return on Assets (%)	- -	2.79	11.95	18.48	16.43	-4.86	3.17	-2.51	-27.16	-9.93	-3.47	-29.1	-60.23
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	3.43	16.14	23.74	23.39	- -	3.94	- -	- -	- -	- -	- -	- -
Gross Margin (%)	40.43	32.93	39.33	42.89	40.77	32.92	30.33	24.64	15.83	21.91	26.53	12.41	11.98
EBITDA Margin (%)	14.89	4.19	12.55	14.97	17.31	-8.18	5.22	-3.31	-16.03	0.61	6.47	-31.29	-37.49
Operating Margin (%)	14.18	2.99	11.3	13.45	15.72	-10.94	3.32	-7.05	-21.59	-6.21	-1.87	-39.53	-48.14
Incremental Operating Margin (%)	- -	-57.69	30.56	16.77	35.56	- -	36.57	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	14.89	2.99	10.88	13.96	13.44	-8.05	3.19	-5.63	-19.95	-6.96	-2.29	-28.95	-48.47
Profit Margin (%)	11.35	1.8	6.28	8.63	9.11	-5.46	2.51	-2.28	-21.77	-6.93	-2.21	-28.97	-48.19
Net Income to Common Margin (%)	11.35	1.8	6.28	8.63	9.11	-5.46	2.51	-2.28	-21.77	-6.93	-2.21	-28.97	-48.19
Effective Tax Rate (%)	23.81	40	42.31	38.18	32.2	- -	21.52	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	250	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	40	90.91	82.93	51.28	-13.41	9.02	-7.01	-96.72	-77.29	-54.13	- -	- -

Credit (USD)

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	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
As of date	09/30/1995	09/30/1996	09/30/1997	09/30/1998	09/30/1999	09/30/2000	09/30/2001	09/30/2002	09/30/2003	09/30/2004	09/30/2005	09/30/2006	09/30/2007

Total Debt	- -	- -	- -	4	6	5	4	4	2	2	- -	- -	- -
ST Debt	- -	- -	- -	4	1	1	1	4	2	- -	- -	- -	- -
LT Debt	- -	- -	- -	- -	5	4	3	- -	- -	1	- -	- -	- -
Total Debt/EBITDA	- -	- -	- -	0.69	0.76	-2.46	2.19	-3.83	-0.43	10.86	0.07	-0.02	-0.09
Net Debt/EBITDA	-0.86	-3.86	-0.63	0.56	0.58	-1.82	1.55	-2.08	-0.14	-12.47	-1.78	0.57	0.11
Total Debt/EBIT	- -	- -	- -	0.77	0.84	-1.84	3.44	-1.8	-0.32	-1.06	-0.24	-0.02	-0.07
Net Debt/EBIT	-0.9	-5.4	-0.7	0.62	0.64	-1.36	2.43	-0.98	-0.1	1.22	6.18	0.45	0.09
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	5.66	8.26	16.9	25.66	37.55	34.89	35.29	36.24	17.05	8.25	4.64	-28.63	-131.67
Long-Term Debt/Equity (%)	- -	- -	- -	- -	29.41	21.54	15.95	- -	- -	12.19	0.59	0.45	- -
Long-Term Debt/Capital (%)	- -	- -	- -	- -	32.05	27.7	21.53	- -	- -	45.91	8.86	-1.22	- -
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	19.16	14.79	10.58	- -	- -	8.32	0.47	0.34	- -
Total Debt/Equity (%)	- -	- -	- -	31.3	34.12	26.94	20.89	20.63	15.35	14.47	0.88	1.13	11.33
Total Debt/Capital (%)	- -	- -	- -	41.41	37.18	34.65	28.19	28.74	37.17	54.49	13.12	-3.06	-4.59
Total Debt/Total Assets (%)	- -	- -	- -	18.14	22.22	18.5	13.86	14.62	10.09	9.88	0.7	0.85	5.78
Net Debt to Equity	-20.93	-30.34	-18.27	25.19	25.88	19.92	14.8	11.21	4.91	-16.62	-22.37	-28.65	-14.01
Net Debt/Capital (%)	150	150	-380	36.26	30.99	28.16	21.76	17.97	15.9	366.27	134.97	42.92	5.15
EBITDA	2	1	3	6	8	-2	2	-1	-4	- -	2	-4	-4
EBITDA-CapEx	2	- -	2	5	7	-2	1	-2	-5	- -	1	-5	-5
Operating Income (Loss)	2	- -	3	5	7	-2	1	-2	-6	-2	- -	-6	-6

Liquidity (USD)

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	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
As of date	09/30/1995	09/30/1996	09/30/1997	09/30/1998	09/30/1999	09/30/2000	09/30/2001	09/30/2002	09/30/2003	09/30/2004	09/30/2005	09/30/2006	09/30/2007

Cash Ratio	0.95	1.35	0.53	0.08	0.33	0.29	0.17	0.23	0.2	0.91	0.95	0.91	0.26
Current Ratio	5.26	5	3.44	2.16	5.67	5.42	3.88	2.19	1.85	2.81	3.61	3.45	1.76
Quick Ratio	2.68	2.75	1.86	1.22	3.57	2.96	2.08	1.29	1.27	2.03	1.96	1.63	0.57
CFO/Avg Current Liab	- -	0.82	0.14	-0.6	-0.15	0.17	0.33	0.34	0.02	0.35	-0.12	-0.78	-0.6
Common Equity/Total Assets	5.66	8.26	16.9	25.66	37.55	34.89	35.29	36.24	17.05	8.25	4.64	-28.63	-131.67
Long-Term Debt/Equity (%)	- -	- -	- -	- -	29.41	21.54	15.95	- -	- -	12.19	0.59	0.45	- -
Long-Term Debt/Capital (%)	- -	- -	- -	- -	32.05	27.7	21.53	- -	- -	45.91	8.86	-1.22	- -
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	19.16	14.79	10.58	- -	- -	8.32	0.47	0.34	- -
Total Debt/Equity (%)	- -	- -	- -	31.3	34.12	26.94	20.89	20.63	15.35	14.47	0.88	1.13	11.33
Total Debt/Capital (%)	- -	- -	- -	41.41	37.18	34.65	28.19	28.74	37.17	54.49	13.12	-3.06	-4.59
Total Debt/Total Assets (%)	- -	- -	- -	18.14	22.22	18.5	13.86	14.62	10.09	9.88	0.7	0.85	5.78
CFO/Total Liabilities	-5	80	10.53	-41.05	-10.99	9.15	18.61	32.28	1.74	33.74	-12.98	-82.38	-55.61
CFO/CapEx	-0.2	2.29	0.5	-3.9	-2	1.63	2.95	2.52	0.26	5.02	-1.28	-13.7	-11.03
Altman's Z-Score	10.78	10.93	13.81	5.87	6.9	4.43	3.82	4.88	2.8	4.41	5.99	1.59	-2.11

Working Capital (USD)

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	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
As of date	09/30/1995	09/30/1996	09/30/1997	09/30/1998	09/30/1999	09/30/2000	09/30/2001	09/30/2002	09/30/2003	09/30/2004	09/30/2005	09/30/2006	09/30/2007

Accounts Receivable Turnover	- -	- -	- -	- -	- -	- -	5.53	3.05	4.07	4.67	6.97	5.36	7.5
Days Sales Outstanding	- -	- -	- -	- -	- -	- -	66.04	119.7	89.74	78.21	52.4	68.03	48.68
Inventory Turnover	- -	2.6	3.26	3.41	3.33	1.85	2.41	2.77	4.99	6.27	4.95	2.47	2.32
Days Inventory Outstanding	- -	140.13	112.02	107.07	109.5	197.27	151.52	131.81	73.17	58.2	73.71	147.84	157.41
Accounts Payable Turnover	- -	10.74	10.19	11.86	14.51	11.5	9.66	5.92	8.98	7.71	9.88	6.79	4.99
Accounts Payable Turnover Days	- -	34	35.81	30.77	25.15	31.74	37.77	61.67	40.63	47.33	36.96	53.77	73.12
Cash Conversion Cycle	- -	106.14	76.21	76.29	84.35	165.54	179.79	189.84	122.28	89.09	89.15	162.11	132.97
Inventory to Cash Days	- -	-140.13	-112.02	-107.07	-109.5	-197.27	-85.48	-12.11	16.57	20	-21.32	-79.81	-108.72
Inventories	5	4	5	8	8	9	10	5	3	3	5	5	4
Raw Materials	- -	- -	- -	- -	- -	- -	3	3	2	1	4	4	2
Work In Process	- -	- -	- -	- -	- -	- -	7	1	1	- -	- -	- -	1
Finished Goods	- -	- -	- -	- -	- -	- -	1	1	1	1	1	1	1
Other Inventory	5	4	5	8	8	9	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
As of date	09/30/1995	09/30/1996	09/30/1997	09/30/1998	09/30/1999	09/30/2000	09/30/2001	09/30/2002	09/30/2003	09/30/2004	09/30/2005	09/30/2006	09/30/2007

Market Capitalization	26	28	67	38	44	32	18	36	18	22	22	8	2
- Cash & Cash Equivalents	2	3	2	1	1	1	1	2	1	3	3	3	1
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	4	6	5	4	4	2	2	- -	- -	- -
Enterprise Value	24	25	65	42	49	35	20	37	19	20	19	5	1
Total Capital	1	1	2	10	16	13	13	12	5	3	1	-3	-9
Total Debt/Capital (%)	- -	- -	- -	41.41	37.18	34.65	28.19	28.74	37.17	54.49	13.12	-3.06	-4.59
Total Debt / EV	- -	- -	- -	0.1	0.12	0.13	0.18	0.09	0.1	0.08	0.01	0.02	0.28
EV/Sales	1.72	1.49	2.71	1.05	1.11	1.56	0.63	1.35	0.72	0.84	0.72	0.38	0.12
EV/EBITDA	11.57	35.43	21.58	7.04	6.42	- -	12.03	- -	- -	138.28	11.05	- -	- -
EV/EBIT	12.14	49.6	23.98	7.84	7.07	- -	18.92	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	15.5	161.83	- -	- -	50.02	12.17	16.57	177.51	11.75	- -	- -	- -
EV/Free Cash Flow to Firm	60.72	10.78	53.94	- -	- -	30.97	9.09	11.86	36.75	9.8	- -	- -	- -
Diluted Market Cap	26	28	67	42	48	32	18	37	18	22	22	8	2
Diluted Enterprise Value	24	25	65	45	52	35	20	39	19	20	19	5	1
EV per Share	3.49	4.51	11.17	7.54	9.07	6.36	3.64	6.78	3.39	3.67	3.1	0.88	0.22
TTM Sales	14	17	24	39	44	23	32	28	26	24	26	14	12
TTM EBITDA	2	1	3	6	8	-2	2	-1	-4	- -	2	-4	-4
TTM Operating Income	2	- -	3	5	7	-2	1	-2	-6	-2	- -	-6	-6
TTM Cash Flow to Firm	- -	2	- -	-4	-1	1	2	2	- -	2	- -	-2	-2
TTM Free Cash Flow to Firm	- -	2	1	-3	- -	1	2	3	1	2	- -	-2	-2

Multiples (USD)

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	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
As of date	09/30/1995	09/30/1996	09/30/1997	09/30/1998	09/30/1999	09/30/2000	09/30/2001	09/30/2002	09/30/2003	09/30/2004	09/30/2005	09/30/2006	09/30/2007

Price/Free Cash Flow	65.22	11.96	55.53	-14.34	-96.08	28.02	8.04	11.72	35.63	10.69	-228.89	-3.59	-1.11
EV/EBIT	12.14	49.6	23.98	7.84	7.07	- -	18.92	- -	- -	- -	- -	- -	- -
Enterprise Value	24	25	65	42	49	35	20	37	19	20	19	5	1
Low Price	3.56	2.75	4.31	4.5	5.12	4.5	2.06	2.84	2.95	3.05	2.85	1.1	0.21
EV/Sales	1.72	1.49	2.71	1.05	1.11	1.56	0.63	1.35	0.72	0.84	0.72	0.38	0.12
EV/EBITDA	11.57	35.43	21.58	7.04	6.42	- -	12.03	- -	- -	138.28	11.05	- -	- -
Price/Earnings	16.3	91.67	44.42	11.25	11.1	- -	21.82	- -	- -	- -	- -	- -	- -
Price/Earnings Average	22.09	71.92	25.75	16.95	13.08	-34.19	27.54	-45.78	-4.67	-12.26	-51.88	-3.32	-1.1
Price/Earnings High	32.61	123.75	47.32	25.13	21.86	-55.54	44.74	-64.63	-6.63	-14.03	-79.58	-5.37	-2.48
Price/Earnings Low	15.5	50.42	16.66	7.3	6.89	-20.2	14.2	-24.83	-2.88	-10.07	-29.73	-1.65	-0.24
Price/Book Value	43.48	30.56	27.76	6.6	4.53	3.72	1.88	4.08	6.02	16.63	27.76	-2.38	-0.21
Price/Book Value Average	58.91	23.97	16.1	9.94	5.34	4.92	2.38	3.33	8.75	15.45	38.36	-4.09	-0.69
Price/Book Value High	86.96	41.25	29.57	14.73	8.92	8	3.86	4.7	12.42	17.66	58.84	-6.61	-1.55
Price/Book Value Low	41.32	16.81	10.42	4.28	2.81	2.91	1.23	1.8	5.4	12.68	21.98	-2.03	-0.15
Price/Tangible Book Value	3.03	3.09	6.41	2.92	2.61	1.89	1	2.14	1.56	2.01	1.61	0.91	0.56
Price/Tangible Book Value Average	4.11	2.42	3.71	4.4	3.08	2.5	1.27	1.74	2.27	1.87	2.22	1.56	1.82
Price/Tangible Book Value High	6.07	4.17	6.82	6.52	5.14	4.06	2.05	2.46	3.22	2.13	3.41	2.52	4.1
Price/Tangible Book Value Low	2.88	1.7	2.4	1.89	1.62	1.48	0.65	0.95	1.4	1.53	1.27	0.77	0.4
Price/Sales	1.85	1.65	2.79	0.97	1.01	1.41	0.55	1.28	0.7	0.92	0.83	0.56	0.16
Price/Sales Average	2.51	1.29	1.62	1.46	1.19	1.87	0.69	1.05	1.02	0.85	1.15	0.96	0.53
Price/Sales High	3.7	2.22	2.97	2.17	1.99	3.03	1.12	1.48	1.44	0.97	1.76	1.56	1.19
Price/Sales Low	1.76	0.91	1.05	0.63	0.63	1.1	0.36	0.57	0.63	0.7	0.66	0.48	0.12
Price/Cash Flow	-260.87	17.19	166.58	-9.81	-44.39	45.24	10.6	15.72	172.1	12.82	-49.57	-3.33	-1.01
Price/Cash Flow Average	-353.43	13.49	96.58	-14.78	-52.34	59.94	13.38	12.82	250.09	11.91	-68.5	-5.71	-3.32
Price/Cash Flow High	-521.74	23.2	177.45	-21.91	-87.44	97.37	21.73	18.09	355.19	13.62	-105.07	-9.23	-7.48
Price/Cash Flow Low	-247.93	9.45	62.49	-6.36	-27.58	35.41	6.9	6.95	154.32	9.77	-39.25	-2.84	-0.72
Price/Free Cash Flow Average	88.36	9.38	32.19	-21.61	-113.27	37.12	10.16	9.55	51.78	9.93	-316.25	-6.15	-3.65
Price/Free Cash Flow High	130.43	16.14	59.15	-32.04	-189.24	60.3	16.49	13.49	73.54	11.35	-485.11	-9.96	-8.22
Price/Free Cash Flow Low	61.98	6.58	20.83	-9.3	-59.68	21.93	5.24	5.18	31.95	8.15	-181.2	-3.06	-0.8
EV/Sales Average	2.38	1.13	1.54	1.55	1.29	2.02	0.77	1.11	1.04	0.77	1.03	0.79	0.49
EV/Sales High	3.57	2.06	2.89	2.25	2.09	3.18	1.2	1.55	1.47	0.9	1.65	1.38	1.15
EV/Sales Low	1.63	0.74	0.97	0.71	0.73	1.25	0.44	0.64	0.65	0.62	0.54	0.3	0.07
EV/EBITDA Average	15.97	26.97	12.24	10.33	7.47	-24.63	14.78	-33.64	-6.48	127.58	15.95	-2.51	-1.3
EV/EBITDA High	23.99	49.18	23.03	15.04	12.08	-38.87	23.04	-46.64	-9.14	147.7	25.42	-4.41	-3.07
EV/EBITDA Low	10.95	17.75	7.7	4.76	4.21	-15.29	8.37	-19.2	-4.05	102.48	8.38	-0.96	-0.2
EV/EBIT Average	16.77	37.75	13.6	11.5	8.22	-18.42	23.24	-15.8	-4.81	-12.46	-55.24	-1.99	-1.01
EV/EBIT High	25.19	68.85	25.58	16.75	13.31	-29.07	36.23	-21.9	-6.79	-14.43	-88.04	-3.49	-2.39
EV/EBIT Low	11.5	24.85	8.55	5.3	4.63	-11.44	13.16	-9.02	-3.01	-10.01	-29.01	-0.76	-0.15
Last Price	3.75	5	11.5	6.94	8.25	5.75	3.17	6.43	3.29	4	3.6	1.29	0.3
High Price	7.5	6.75	12.25	15.5	16.25	12.38	6.5	7.4	6.79	4.25	7.63	3.58	2.2
Enterprise Value Average	34	19	37	61	57	45	25	31	27	19	27	11	6
Enterprise Value High	50	34	69	89	92	72	39	43	38	22	43	20	13
Enterprise Value Low	23	12	23	28	32	28	14	18	17	15	14	4	1

Shares Outstanding	6	6	6	5	6	6	6	6	6	6	6	6	6
Diluted Weighted Avg Shares	7	6	6	6	6	6	6	6	6	6	6	6	6
Basic Weighted Avg Shares	7	6	6	6	5	6	6	6	6	6	6	6	6
Revenue per Share	2.03	3.04	4.12	7.15	8.16	4.08	5.8	5.01	4.7	4.37	4.33	2.3	1.84
EBITDA per Share	0.3	0.13	0.52	1.07	1.41	-0.33	0.3	-0.17	-0.75	0.03	0.28	-0.72	-0.69
Operating Income per Share	0.29	0.09	0.47	0.96	1.28	-0.45	0.19	-0.35	-1.02	-0.27	-0.08	-0.91	-0.89
Basic EPS, GAAP	0.23	0.05	0.26	0.62	0.74	-0.22	0.15	-0.11	-1.02	-0.3	-0.1	-0.67	-0.89
Basic EPS from Cont Ops	0.23	0.05	0.26	0.62	0.74	-0.22	0.15	-0.11	-1.02	-0.3	-0.1	-0.67	-0.89
Diluted EPS, GAAP	0.23	0.05	0.26	0.57	0.69	-0.22	0.14	-0.11	-1.02	-0.3	-0.1	-0.67	-0.89
Diluted EPS from Cont Ops	0.23	0.05	0.26	0.57	0.69	-0.22	0.14	-0.11	-1.02	-0.3	-0.1	-0.67	-0.89
Dividend per Share	0.57	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	-0.01	0.29	0.07	-0.71	-0.19	0.13	0.3	0.41	0.02	0.31	-0.07	-0.39	-0.29
Free Cash Flow per Basic Share	-0.09	0.16	-0.07	-0.89	-0.28	0.05	0.2	0.25	-0.05	0.25	-0.13	-0.42	-0.32
Cash & Equivalents per Share	0.26	0.49	0.33	0.15	0.26	0.21	0.19	0.29	0.22	0.62	0.52	0.42	0.14
Book Value per Share	0.09	0.16	0.41	1.05	1.82	1.55	1.68	1.58	0.55	0.24	0.13	-0.54	-1.42
Tangible Book Value per Share	1.24	1.62	1.79	2.38	3.16	3.04	3.16	3.01	2.11	1.99	2.24	1.42	0.54

Global Payment Technologies Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)