GSE Systems, Inc. Financial Ratios — GVP Stock

Profitability (USD)

	2009 Y	2010 Y	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
As of date	12/31/2009	12/31/2010	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

Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	-1.98	-4.36	4.98	1.93	-18.87	-15.42	-10.99	3.06	11.94	-0.6	-20.15	-21.57	27.11	-46.82	-35.39
Return on Capital (%)	2.74	- -	- -	-4.15	- -	- -	- -	-2.85	- -	1.24	- -	- -	-21.14	- -	- -
Return on Invested Capital (%)	-47.56	- -	- -	3.17	- -	- -	- -	7.57	- -	-3.36	- -	- -	-16.25	- -	- -
Gross Margin (%)	25.77	23.58	31.97	33.95	26.45	28.75	25.35	30.62	26.16	25.07	24.46	25.66	21.49	24.95	26.49
EBITDA Margin (%)	7.63	0.9	8.77	6.84	-5.71	-14.02	2.41	5.53	3.83	5.71	3.15	-2.12	-4.74	-10.83	-9.28
Operating Margin (%)	5.17	-2.61	4.36	3.82	-8.48	-16.66	0.07	3.5	2.22	2.86	-0.62	-6.66	-8.12	-13.99	-11.53
Incremental Operating Margin (%)	18.84	- -	88.42	-20.62	- -	- -	32.67	-49.05	-1.61	4.98	- -	- -	- -	- -	- -
Pretax Margin (%)	0.3	-4.33	4.62	3.57	-21.79	-19.08	-7.45	3.34	0.57	0.84	-7.66	-17.67	19.52	-32.04	-19.32
Profit Margin (%)	-1.99	-4.76	5.48	2.25	-22.1	-19.53	-8.28	2.68	9.25	-0.38	-14.56	-18.29	19.22	-32.14	-19.37
Net Income to Common Margin (%)	-1.99	-4.76	5.48	2.25	-22.1	-19.53	-8.28	2.68	9.25	-0.38	-14.56	-18.29	19.22	-32.14	-19.37
Effective Tax Rate (%)	764.17	- -	- -	36.98	- -	- -	- -	19.75	- -	145.56	- -	- -	1.51	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	2009 Y	2010 Y	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
As of date	12/31/2009	12/31/2010	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

Total Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	9	21	15	3	4	2
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	2	18	8	2	3	1
LT Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	7	3	7	1	- -	1
Total Debt/EBITDA	- -	- -	- -	- -	- -	-0.06	- -	- -	- -	1.62	8.21	-12.18	-1	-0.68	-0.43
Net Debt/EBITDA	-8.26	-62.24	-4.53	-6.26	5.76	2.52	-8.09	-7.4	-7.03	-0.69	2.6	-5.21	0.66	-0.11	0.19
Total Debt/EBIT	- -	- -	- -	- -	- -	-0.05	- -	- -	- -	3.23	-41.87	-3.89	-0.58	-0.53	-0.35
Net Debt/EBIT	-12.2	21.57	-9.12	-11.21	3.88	2.12	-263.9	-11.7	-12.16	-1.37	-13.24	-1.66	0.39	-0.08	0.15
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	19.66	2.65	-1.96	-16.46	-4.06	-2.16
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	18.05	2.25	-2.49	-16.46	-4.06	-2.16
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	9.83	-0.52	-6.16	-28.19	-5.25	-2.69
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	1	- -	1	2
Common Equity/Total Assets	-59.42	-59.07	-49.09	-44.27	-78.25	-99.4	-128.69	-91.74	-75.93	-68.94	-93.04	-165.78	-139.2	-263.82	-344.99
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	21.23	14.91	65.35	3.43	4.59	18.61
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	-19.53	-9.1	-13.71	-1.53	-0.71	-1.29
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	10.76	5.13	17.52	2.02	1.77	4.36
Total Debt/Equity (%)	- -	- -	- -	- -	- -	1.49	- -	- -	- -	27.34	106.77	141.88	11.31	34.29	33.77
Total Debt/Capital (%)	- -	- -	- -	- -	- -	-0.74	- -	- -	- -	-25.15	-65.18	-29.77	-5.04	-5.28	-2.35
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	0.73	- -	- -	- -	13.85	36.71	38.03	6.68	13.24	7.91
Net Debt to Equity	-68.03	-72.01	-52.41	-54.83	-51.48	-58.25	-60.34	-102.96	-64.41	-11.6	33.75	60.66	-7.52	5.46	-15.03
Net Debt/Capital (%)	46.2	45.63	41.32	44.7	29.05	22.37	17.95	30.64	30.94	7.86	-15.21	-11.23	3.13	-0.81	1.01
EBITDA	3	- -	4	4	-3	-5	1	3	3	5	3	-1	-3	-5	-4
EBITDA-CapEx	2	- -	4	2	-4	-6	- -	3	3	5	2	-2	-3	-5	-4
Operating Income (Loss)	2	-1	2	2	-4	-6	- -	2	2	3	-1	-4	-4	-7	-5

Liquidity (USD)

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	2009 Y	2010 Y	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
As of date	12/31/2009	12/31/2010	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

Cash Ratio	2.08	1.67	1.15	1.1	0.87	0.63	0.56	0.69	0.76	0.54	0.34	0.31	0.24	0.18	0.14
Current Ratio	3.59	2.89	2.71	2.47	2.45	1.49	1.44	1.4	1.46	1.57	0.89	0.87	1.33	1.03	0.84
Quick Ratio	3.39	2.75	2.3	2.28	2.33	1.39	1.25	1.31	1.33	1.5	0.85	0.81	1.26	0.89	0.76
CFO/Avg Current Liab	0.03	0.17	0.09	0.2	-0.17	0.34	0.05	0.4	0.26	-0.15	0.14	0.04	-0.01	0.05	0.1
Common Equity/Total Assets	-59.42	-59.07	-49.09	-44.27	-78.25	-99.4	-128.69	-91.74	-75.93	-68.94	-93.04	-165.78	-139.2	-263.82	-344.99
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	21.23	14.91	65.35	3.43	4.59	18.61
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	-19.53	-9.1	-13.71	-1.53	-0.71	-1.29
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	10.76	5.13	17.52	2.02	1.77	4.36
Total Debt/Equity (%)	- -	- -	- -	- -	- -	1.49	- -	- -	- -	27.34	106.77	141.88	11.31	34.29	33.77
Total Debt/Capital (%)	- -	- -	- -	- -	- -	-0.74	- -	- -	- -	-25.15	-65.18	-29.77	-5.04	-5.28	-2.35
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	0.73	- -	- -	- -	13.85	36.71	38.03	6.68	13.24	7.91
CFO/Total Liabilities	2.63	14.56	7.83	17.21	-17.22	28.31	4.84	31.2	27.39	-11.49	10.43	3.9	-0.96	4.54	8.93
CFO/CapEx	0.38	2.69	1.87	2.84	-2.43	10.29	0.63	41.44	41.03	-8.06	10.21	3.41	- -	- -	- -
Altman's Z-Score	5.44	3.18	2.16	2.11	1.19	-0.2	1.11	1.28	2.09	2.18	0.53	-1.8	-0.02	-3.43	-5.18

Working Capital (USD)

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	2009 Y	2010 Y	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
As of date	12/31/2009	12/31/2010	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

Accounts Receivable Turnover	2.98	2.85	4.02	5.06	3.03	2.52	5.51	4.59	6.6	7.64	6.14	6.89	9.34	7.83	7.64
Days Sales Outstanding	122.51	128.11	90.88	72.17	120.65	145.04	66.26	79.58	55.3	47.78	59.47	53	39.08	46.64	47.79
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	138.64	154.63	901.83	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	2.63	2.36	0.4	- -	- -	- -	- -
Accounts Payable Turnover	8.92	7.25	7.71	7.62	8.2	9.09	28	45.43	48.84	53.56	52.03	51.39	49.54	29.35	14.52
Accounts Payable Turnover Days	40.9	50.35	47.34	47.9	44.52	40.15	13.04	8.03	7.47	6.81	7.02	7.1	7.37	12.44	25.14
Cash Conversion Cycle	81.61	77.76	43.54	24.27	76.13	104.89	53.22	71.55	50.46	43.33	52.86	45.9	31.72	34.2	22.64
Inventory to Cash Days	122.51	128.11	90.88	72.17	120.65	145.04	66.26	79.58	52.67	45.42	59.07	53	39.08	46.64	47.79
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	1	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	1	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2009 Y	2010 Y	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
As of date	12/31/2009	12/31/2010	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

Market Capitalization	93	69	37	40	29	28	43	64	63	41	33	27	36	15	5
- Cash & Cash Equivalents	25	27	20	22	16	14	11	22	19	12	12	7	4	3	2
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	9	21	15	3	4	2
Enterprise Value	68	42	17	17	13	15	32	42	43	38	43	35	35	16	5
Total Capital	-29	-32	-29	-28	-38	-46	-51	-49	-43	-34	-33	-50	-52	-66	-77
Total Debt/Capital (%)	- -	- -	- -	- -	- -	-0.74	- -	- -	- -	-25.15	-65.18	-29.77	-5.04	-5.28	-2.35
Total Debt / EV	- -	- -	- -	- -	- -	0.02	- -	- -	- -	0.23	0.5	0.42	0.08	0.22	0.4
EV/Sales	1.69	0.89	0.33	0.33	0.28	0.4	0.56	0.79	0.61	0.41	0.52	0.61	0.63	0.34	0.1
EV/EBITDA	22.09	98.62	3.71	4.84	- -	- -	23.25	14.3	16	7.17	16.4	- -	- -	- -	- -
EV/EBIT	32.62	- -	7.46	8.67	- -	- -	758.55	22.61	27.68	14.33	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	207.21	17.32	10.61	4.63	- -	2.29	31.36	4.14	5.99	- -	7.29	19.96	9,616.74	7.99	1.3
EV/Free Cash Flow to Firm	56.91	12.63	6.91	3.43	- -	2.08	12.13	4.04	5.85	- -	6.83	16.83	9,616.74	7.99	1.3
Diluted Market Cap	93	69	37	40	29	28	43	65	64	41	33	27	36	15	5
Diluted Enterprise Value	68	42	17	17	13	15	32	43	45	38	43	35	35	16	5
EV per Share	39.88	22.19	8.78	9.42	7.38	8.5	17.81	23.06	22.58	19.17	21.38	17.21	16.65	7.54	1.83
TTM Sales	40	47	51	52	48	38	57	53	71	92	83	58	55	48	45
TTM EBITDA	3	- -	4	4	-3	-5	1	3	3	5	3	-1	-3	-5	-4
TTM Operating Income	2	-1	2	2	-4	-6	- -	2	2	3	-1	-4	-4	-7	-5
TTM Cash Flow to Firm	- -	2	2	4	-3	7	1	10	7	-4	6	2	- -	2	3
TTM Free Cash Flow to Firm	1	3	2	5	-2	7	3	10	7	-3	6	2	- -	2	3

Multiples (USD)

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	2009 Y	2010 Y	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
As of date	12/31/2009	12/31/2010	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

Price/Free Cash Flow	78.2	20.6	15.5	7.89	-15.56	3.9	16.35	6.23	8.57	-13.56	7.53	18.66	-232.04	20.84	3.21
EV/EBIT	32.62	- -	7.46	8.67	- -	- -	758.55	22.61	27.68	14.33	- -	- -	- -	- -	- -
Enterprise Value	68	42	17	17	13	15	32	42	43	38	43	35	35	16	5
Low Price	35.8	31.5	15	16.4	14	11.9	12.8	19.4	23.5	20	10.4	8.6	11	5.3	1.3
EV/Sales	1.69	0.89	0.33	0.33	0.28	0.4	0.56	0.79	0.61	0.41	0.52	0.61	0.63	0.34	0.1
EV/EBITDA	22.09	98.62	3.71	4.84	- -	- -	23.25	14.3	16	7.17	16.4	- -	- -	- -	- -
Price/Earnings	- -	- -	13.19	33.82	- -	- -	- -	44.84	9.55	- -	- -	- -	3.35	- -	- -
Price/Earnings Average	-124.81	-37.28	15.74	33.13	-3.07	-4	-5.95	32.59	9.41	-177.06	-3.6	-2.18	3.07	-1.7	-1.41
Price/Earnings High	-177.46	-50.62	26.12	47.45	-4.52	-4.78	-9.55	47.4	11.31	-214.23	-5.4	-3.59	5.48	-3.06	-3.22
Price/Earnings Low	-76.08	-26.58	10.15	25.68	-2.42	-2.9	-4.87	24.86	6.9	-111.29	-1.73	-1.67	2.15	-0.74	-0.37
Price/Book Value	-3.15	-2.17	-1.28	-1.43	-0.76	-0.62	-0.85	-1.3	-1.47	-0.98	-0.61	-0.42	-0.65	-0.22	-0.06
Price/Book Value Average	-3.38	-2.65	-1.53	-1.4	-0.84	-0.64	-0.55	-0.94	-1.45	-1.48	-0.8	-0.35	-0.6	-0.37	-0.16
Price/Book Value High	-4.81	-3.59	-2.53	-2.01	-1.24	-0.76	-0.89	-1.37	-1.74	-1.79	-1.2	-0.58	-1.07	-0.67	-0.36
Price/Book Value Low	-2.06	-1.89	-0.98	-1.09	-0.67	-0.46	-0.45	-0.72	-1.06	-0.93	-0.38	-0.27	-0.42	-0.16	-0.04
Price/Tangible Book Value	2.77	2.16	1.18	1.2	1.01	1.97	3.96	4.53	3.49	3.67	-7.63	-3.5	5.77	9.2	-3.34
Price/Tangible Book Value Average	2.97	2.63	1.41	1.18	1.13	2.03	2.58	3.29	3.44	5.56	-10.03	-2.98	5.29	15.6	-8.25
Price/Tangible Book Value High	4.22	3.57	2.34	1.69	1.66	2.43	4.14	4.79	4.13	6.73	-15.02	-4.91	9.45	28.13	-18.79
Price/Tangible Book Value Low	1.81	1.88	0.91	0.91	0.89	1.47	2.11	2.51	2.52	3.5	-4.81	-2.28	3.71	6.78	-2.16
Price/Sales	2.32	1.45	0.72	0.76	0.61	0.76	0.76	1.2	0.88	0.45	0.4	0.47	0.64	0.32	0.11
Price/Sales Average	2.48	1.78	0.86	0.74	0.68	0.78	0.49	0.87	0.87	0.68	0.52	0.4	0.59	0.55	0.27
Price/Sales High	3.53	2.41	1.43	1.07	1	0.93	0.79	1.27	1.05	0.82	0.79	0.66	1.05	0.98	0.62
Price/Sales Low	1.51	1.27	0.56	0.58	0.53	0.57	0.4	0.67	0.64	0.43	0.25	0.31	0.41	0.24	0.07
Price/Cash Flow	284.72	28.24	23.57	10.62	-9.14	4.28	42.27	6.28	8.62	-11.88	8.27	24.13	-232.04	20.84	3.21
Price/Cash Flow Average	305.14	34.47	28.12	10.4	-10.16	4.4	27.57	4.56	8.5	-18	10.87	20.53	-212.76	35.32	7.92
Price/Cash Flow High	433.84	46.81	46.66	14.89	-14.97	5.27	44.2	6.64	10.21	-21.77	16.28	33.82	-379.94	63.68	18.02
Price/Cash Flow Low	186.01	24.58	18.13	8.06	-8	3.2	22.54	3.48	6.23	-11.31	5.21	15.72	-149.26	15.34	2.07
Price/Free Cash Flow Average	83.8	25.14	18.49	7.73	-17.29	4.01	10.67	4.53	8.44	-20.54	9.9	15.88	-212.76	35.32	7.92
Price/Free Cash Flow High	119.15	34.14	30.68	11.06	-25.47	4.81	17.1	6.59	10.15	-24.86	14.83	26.15	-379.94	63.68	18.02
Price/Free Cash Flow Low	51.09	17.92	11.92	5.99	-13.61	2.92	8.72	3.45	6.19	-12.91	4.75	12.16	-149.26	15.34	2.07
EV/Sales Average	1.85	1.21	0.46	0.32	0.35	0.43	0.3	0.46	0.6	0.64	0.64	0.54	0.57	0.56	0.26
EV/Sales High	2.9	1.85	1.03	0.64	0.67	0.58	0.6	0.86	0.78	0.78	0.9	0.8	1.04	1	0.61
EV/Sales Low	0.88	0.7	0.16	0.15	0.21	0.21	0.21	0.26	0.37	0.39	0.37	0.45	0.4	0.25	0.06
EV/EBITDA Average	24.27	134.09	5.3	4.62	-6.13	-3.05	12.36	8.37	15.67	11.21	20.38	-25.46	-12.08	-5.18	-2.85
EV/EBITDA High	37.99	204.39	11.78	9.32	-11.76	-4.15	24.69	15.54	20.26	13.71	28.67	-37.59	-21.85	-9.23	-6.62
EV/EBITDA Low	11.57	77.74	1.81	2.17	-3.6	-1.53	8.63	4.63	9.62	6.79	11.72	-21.06	-8.37	-2.33	-0.67
EV/EBIT Average	35.83	-46.47	10.66	8.27	-4.13	-2.57	403.02	13.24	27.11	22.42	-103.91	-8.12	-7.05	-4.01	-2.29
EV/EBIT High	56.09	-70.84	23.71	16.68	-7.91	-3.49	805.41	24.58	35.03	27.41	-146.18	-12	-12.76	-7.14	-5.32
EV/EBIT Low	17.08	-26.94	3.64	3.89	-2.42	-1.29	281.4	7.32	16.65	13.58	-59.76	-6.72	-4.88	-1.8	-0.54
Last Price	54.8	36.2	19.5	21.6	16	15.9	24	35	32.5	21	16.5	13.2	17.1	7.2	2.01
High Price	83.5	60	38.6	30.3	26.2	19.6	25.1	37	38.5	38.5	32.5	18.5	28	22	11.3
Enterprise Value Average	74	57	24	17	17	16	17	25	43	59	53	31	32	27	12
Enterprise Value High	116	87	53	33	32	22	34	46	55	72	75	46	57	48	28
Enterprise Value Low	35	33	8	8	10	8	12	14	26	36	31	26	22	12	3

Shares Outstanding	2	2	2	2	2	2	2	2	2	2	2	2	2	2	3
Diluted Weighted Avg Shares	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2
Basic Weighted Avg Shares	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2
Revenue per Share	23.65	24.88	26.98	28.42	26.2	20.98	31.75	29.15	36.8	46.83	41.36	28.19	26.58	22.34	18.11
EBITDA per Share	1.81	0.23	2.37	1.95	-1.5	-2.94	0.77	1.61	1.41	2.67	1.3	-0.6	-1.26	-2.42	-1.68
Operating Income per Share	1.22	-0.65	1.18	1.09	-2.22	-3.5	0.02	1.02	0.82	1.34	-0.26	-1.88	-2.16	-3.13	-2.09
Basic EPS, GAAP	-0.47	-1.19	1.48	0.64	-5.79	-4.1	-2.63	0.78	3.4	-0.18	-6.02	-5.16	5.11	-7.18	-3.51
Basic EPS from Cont Ops	-0.47	-1.19	1.48	0.64	-5.79	-4.1	-2.63	0.78	3.4	-0.18	-6.02	-5.16	5.11	-7.18	-3.51
Diluted EPS, GAAP	-0.47	-1.19	1.46	0.64	-5.79	-4.1	-2.63	0.77	3.34	-0.18	-6.02	-5.16	5.11	-7.18	-3.51
Diluted EPS from Cont Ops	-0.47	-1.19	1.46	0.64	-5.79	-4.1	-2.63	0.77	3.34	-0.18	-6.02	-5.16	5.11	-7.18	-3.51
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	0.19	1.28	0.83	2.03	-1.75	3.72	0.57	5.57	3.77	-1.77	2	0.55	-0.07	0.35	0.63
Free Cash Flow per Basic Share	-0.32	0.81	0.39	1.32	-2.47	3.36	-0.33	5.44	3.68	-1.99	1.8	0.39	-0.07	0.35	0.63
Cash & Equivalents per Share	14.92	14.01	10.72	12.18	8.62	7.59	6.19	11.94	9.92	6.15	5.83	3.28	1.71	1.31	0.9
Book Value per Share	-17.37	-16.69	-15.23	-15.07	-21.05	-25.69	-28.31	-27.02	-22.15	-21.5	-27.13	-31.79	-26.18	-32.72	-31.64
Tangible Book Value per Share	19.8	16.8	16.51	17.95	15.79	8.07	6.06	7.72	9.32	5.72	-2.16	-3.77	2.96	0.78	-0.6

GSE Systems, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)