Hallmark Financial Services, Inc. Financial Ratios — HALL

Profitability (USD)

	2008 Y	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
As of date	12/31/2008	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

Return on Common Equity (%)	18.55	27.58	6.99	-10.48	3.53	7.79	11.51	16.28	4.39	-7.91	6.78	-0.38	-80.72	12.31	- -
Return on Assets (%)	2.25	4.21	1.08	-1.47	0.46	0.97	1.42	2.13	0.58	-0.97	0.83	-0.05	-6.31	0.59	-7
Return on Capital (%)	12.05	18.59	6.85	- -	- -	7.11	9.59	11.94	4.28	- -	5.88	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	2.86	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	- -	- -	- -	- -	- -	2.85	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Margin (%)	- -	- -	- -	- -	- -	2.85	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	23.26	21.28	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	7.86	11.59	2.73	-6.13	0.99	2.85	5.57	8.56	2.26	-4.3	3.38	-0.21	-24.69	-5.5	-79.46
Profit Margin (%)	4.8	8.56	2.41	-3.37	1.03	2.12	3.98	5.87	1.74	-3	2.73	-0.13	-20.12	3.98	-67.6
Net Income to Common Margin (%)	4.8	8.56	2.41	-3.37	1.03	2.12	3.98	5.87	1.74	-3	2.73	-0.13	-20.12	3.98	-67.6
Effective Tax Rate (%)	38.7	25.95	10.31	- -	- -	25.59	28.5	31.43	23.02	- -	19.18	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	18.55	27.58	6.99	-10.48	3.53	7.79	11.51	16.28	4.39	-7.91	6.78	-0.38	-80.72	12.31	- -

Credit (USD)

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	2008 Y	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
As of date	12/31/2008	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

Total Debt	61	60	60	61	58	58	57	86	86	86	86	105	105	105	105
ST Debt	- -	- -	- -	4	1	1	- -	30	30	30	30	- -	- -	- -	- -
LT Debt	61	60	60	57	57	57	57	56	56	56	56	105	105	105	105
Total Debt/EBITDA	- -	- -	- -	- -	- -	5.25	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBITDA	- -	- -	- -	- -	- -	-7.54	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBIT	- -	- -	- -	- -	- -	5.25	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	-7.54	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	2.41	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	-0.24	-0.27	-0.39	-0.34	-0.02	2.26	-0.12	-0.92	-0.95	-0.6	-0.46	-0.77	-0.31	-0.38	-0.4
EBIT to Interest Expense	- -	- -	- -	- -	- -	2.41	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	5	5	5	5	5	5	5	4	5	5	5	5	5	5	6
Common Equity/Total Assets	14.11	16.26	14.86	13.16	12.87	12.1	12.58	13.51	13.06	11.39	13.04	10.99	4.64	4.94	-2.04
Long-Term Debt/Equity (%)	33.82	26.14	25.09	26.3	25.71	23.81	22.5	21.24	20.96	22.2	21.84	39.85	62.65	59.94	174.75
Long-Term Debt/Capital (%)	44.26	36.53	34.91	35.39	35.46	33.72	31.48	24.1	23.45	24.67	22.25	38.97	60.2	57.81	142.3
Long-Term Debt/Total Assets (%)	11.31	9.46	8.07	7.6	7.17	6.24	5.78	5.17	4.79	4.53	4.41	7.02	7.02	6.77	6.86
Total Debt/Equity (%)	33.82	26.14	25.09	28.18	26.38	24.43	22.5	32.69	32.25	34.15	33.58	39.85	62.65	59.94	174.75
Total Debt/Capital (%)	44.26	36.53	34.91	37.91	36.38	34.6	31.48	37.09	36.09	37.95	34.22	38.97	60.2	57.81	142.3
Total Debt/Total Assets (%)	11.31	9.46	8.07	8.14	7.36	6.4	5.78	7.96	7.37	6.97	6.78	7.02	7.02	6.77	6.86
Net Debt to Equity	0.99	-23.18	-0.43	-6.36	-12.23	-35.06	-29.47	-10.99	2.28	8.27	19.65	19.59	1.48	-141.1	76.67
Net Debt/Capital (%)	2.27	-104.29	-0.93	-16	-36.08	-315.36	-151.25	-24.73	3.84	12.9	23.34	23.89	3.45	144.94	310.06
EBITDA	- -	- -	- -	- -	- -	11	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx	-1	-1	-2	-2	- -	10	-1	-4	-4	-3	-2	-4	-2	-2	-2
Operating Income (Loss)	- -	- -	- -	- -	- -	11	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2008 Y	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
As of date	12/31/2008	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

Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	14.11	16.26	14.86	13.16	12.87	12.1	12.58	13.51	13.06	11.39	13.04	10.99	4.64	4.94	-2.04
Long-Term Debt/Equity (%)	33.82	26.14	25.09	26.3	25.71	23.81	22.5	21.24	20.96	22.2	21.84	39.85	62.65	59.94	174.75
Long-Term Debt/Capital (%)	44.26	36.53	34.91	35.39	35.46	33.72	31.48	24.1	23.45	24.67	22.25	38.97	60.2	57.81	142.3
Long-Term Debt/Total Assets (%)	11.31	9.46	8.07	7.6	7.17	6.24	5.78	5.17	4.79	4.53	4.41	7.02	7.02	6.77	6.86
Total Debt/Equity (%)	33.82	26.14	25.09	28.18	26.38	24.43	22.5	32.69	32.25	34.15	33.58	39.85	62.65	59.94	174.75
Total Debt/Capital (%)	44.26	36.53	34.91	37.91	36.38	34.6	31.48	37.09	36.09	37.95	34.22	38.97	60.2	57.81	142.3
Total Debt/Total Assets (%)	11.31	9.46	8.07	8.14	7.36	6.4	5.78	7.96	7.37	6.97	6.78	7.02	7.02	6.77	6.86
CFO/Total Liabilities	13.6	15.38	7.27	4.64	5.91	10.19	4.62	6.51	3.44	0.73	-3.26	2.25	-5.22	3.18	-11.17
CFO/CapEx	43.53	48.85	20.48	15.52	314.79	101.54	61.69	14.67	7.11	2.66	-15.68	6.61	-41.59	22.92	-69.96
Altman's Z-Score	1.1	1.01	0.91	0.83	0.85	0.83	0.74	0.73	0.67	0.61	0.61	0.65	0.4	0.25	0.08

Working Capital (USD)

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	2008 Y	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
As of date	12/31/2008	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

Accounts Receivable Turnover	5.38	5.82	5.88	4.1	3.01	2.83	2.01	1.94	1.71	1.46	1.14	1.16	0.86	0.36	0.23
Days Sales Outstanding	67.79	62.67	62.05	88.94	121.07	128.8	181.29	188.2	213.57	250.48	318.9	315.84	425.16	1,025	1,569.11
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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	2008 Y	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
As of date	12/31/2008	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

Market Capitalization	182	164	183	138	181	171	232	224	217	191	194	318	65	78	11
- Cash & Cash Equivalents	59	112	61	74	85	142	131	114	80	65	36	53	103	353	59
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	1	1	1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	61	60	60	61	58	58	57	86	86	86	86	105	105	105	105
Enterprise Value	185	112	183	-255	-248	-322	-293	-336	-375	-394	-302	-205	-440	-459	-370
Total Capital	138	163	170	160	160	168	180	231	237	226	251	269	175	182	74
Total Debt/Capital (%)	44.26	36.53	34.91	37.91	36.38	34.6	31.48	37.09	36.09	37.95	34.22	38.97	60.2	57.81	142.3
Total Debt / EV	0.33	0.53	0.32	-0.24	-0.24	-0.18	-0.19	-0.25	-0.23	-0.22	-0.28	-0.51	-0.24	-0.23	-0.28
EV/Sales	0.69	0.39	0.6	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	3.58	1.73	4.53	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	3.51	1.69	4.34	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	183	164	184	138	181	172	235	226	223	191	194	318	65	79	11
Diluted Enterprise Value	186	113	184	125	154	89	161	197	229	212	244	370	67	-169	57
EV per Share	88.91	54.55	91.17	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Sales	269	287	307	323	342	389	337	372	376	386	379	486	469	227	160
TTM EBITDA	- -	- -	- -	- -	- -	11	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Operating Income	- -	- -	- -	- -	- -	11	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	52	65	40	27	39	72	37	56	34	10	-29	31	-65	48	-159
TTM Free Cash Flow to Firm	53	66	42	29	39	72	38	59	39	13	-27	35	-63	50	-156

Multiples (USD)

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	2008 Y	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
As of date	12/31/2008	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

Price/Free Cash Flow	3.67	2.61	4.81	5.25	5.35	2.49	6.87	4	6.34	19.31	-6.29	9.99	-0.95	1.73	-0.06
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	185	112	183	-255	-248	-322	-293	-336	-375	-394	-302	-205	-440	-459	-370
Low Price	50.5	59.8	73.6	63.2	65.7	80.3	80.5	93.3	95	99.1	86.2	94.8	22.8	31.3	4.2
EV/Sales	0.69	0.39	0.6	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	14.14	6.68	24.74	- -	51.33	20.77	17.27	10.25	33.23	- -	18.75	- -	- -	8.7	- -
Price/Earnings Average	16.23	6.2	25.06	-14.01	42.25	21.05	13.93	10.11	30.74	-17.47	18.14	-414.14	-1.1	8.06	-0.41
Price/Earnings High	27.03	7.98	32.56	-16.71	53.08	23.43	17.76	11.66	34.54	-19.02	20.32	-588.12	-3.64	11.4	-0.79
Price/Earnings Low	8.14	5.02	20.01	-11.42	35.91	18.76	11.5	8.18	27.14	-15.73	15.12	-274.65	-0.44	6.26	-0.07
Price/Book Value	2.4	1.61	1.67	1.4	1.78	1.56	1.88	1.54	1.43	1.36	1.18	1.94	0.93	1.02	-0.34
Price/Book Value Average	2.76	1.49	1.69	1.55	1.46	1.58	1.52	1.52	1.32	1.44	1.14	1.58	1.5	0.94	-1.41
Price/Book Value High	4.59	1.92	2.2	1.85	1.84	1.76	1.93	1.75	1.49	1.57	1.27	2.24	4.95	1.34	-2.74
Price/Book Value Low	1.38	1.21	1.35	1.27	1.24	1.41	1.25	1.23	1.17	1.3	0.95	1.04	0.6	0.73	-0.24
Price/Tangible Book Value	1.66	1.04	1.13	0.95	1.18	0.99	1.22	1.11	1.04	0.97	0.95	1.49	0.39	0.45	0.17
Price/Tangible Book Value Average	1.9	0.97	1.14	1.06	0.97	1	0.98	1.09	0.96	1.03	0.92	1.21	0.63	0.42	0.73
Price/Tangible Book Value High	3.17	1.24	1.49	1.26	1.22	1.11	1.26	1.26	1.08	1.12	1.03	1.72	2.07	0.59	1.42
Price/Tangible Book Value Low	0.95	0.78	0.91	0.86	0.83	0.89	0.81	0.88	0.85	0.93	0.77	0.8	0.25	0.32	0.13
Price/Sales	0.68	0.57	0.6	0.43	0.53	0.44	0.69	0.6	0.58	0.5	0.51	0.65	0.14	0.35	0.07
Price/Sales Average	0.78	0.53	0.6	0.47	0.44	0.45	0.55	0.59	0.53	0.52	0.49	0.53	0.22	0.32	0.28
Price/Sales High	1.3	0.68	0.79	0.56	0.55	0.5	0.71	0.68	0.6	0.57	0.55	0.76	0.73	0.45	0.54
Price/Sales Low	0.39	0.43	0.48	0.39	0.37	0.4	0.46	0.48	0.47	0.47	0.41	0.35	0.09	0.25	0.05
Price/Cash Flow	3.75	2.66	5.04	5.59	5.37	2.51	6.89	4.24	7.03	26.57	-5.89	11.5	-0.93	1.79	-0.06
Price/Cash Flow Average	4.3	2.47	5.1	6.2	4.42	2.54	5.55	4.18	6.5	28.03	-5.7	9.35	-1.5	1.66	-0.27
Price/Cash Flow High	7.16	3.18	6.63	7.39	5.55	2.83	7.08	4.81	7.31	30.52	-6.38	13.28	-4.96	2.35	-0.52
Price/Cash Flow Low	2.16	2	4.07	5.05	3.76	2.26	4.58	3.38	5.74	25.24	-4.75	6.2	-0.6	1.29	-0.05
Price/Free Cash Flow Average	4.22	2.42	4.88	5.82	4.41	2.53	5.54	3.94	5.87	20.38	-6.09	8.12	-1.54	1.6	-0.27
Price/Free Cash Flow High	7.02	3.12	6.34	6.95	5.54	2.81	7.07	4.55	6.59	22.18	-6.82	11.54	-5.08	2.27	-0.53
Price/Free Cash Flow Low	2.12	1.96	3.89	4.75	3.75	2.25	4.58	3.19	5.18	18.35	-5.07	5.39	-0.61	1.24	-0.05
EV/Sales Average	0.79	0.35	0.61	0.43	0.36	0.23	0.33	0.52	0.55	0.58	0.63	0.64	0.23	- -	0.56
EV/Sales High	1.31	0.5	0.79	0.53	0.47	0.28	0.49	0.61	0.62	0.62	0.69	0.86	0.74	- -	0.83
EV/Sales Low	0.4	0.25	0.48	0.35	0.29	0.18	0.24	0.4	0.49	0.53	0.54	0.46	0.09	- -	0.34
EV/EBITDA Average	- -	- -	- -	- -	- -	8.13	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA High	- -	- -	- -	- -	- -	9.9	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Low	- -	- -	- -	- -	- -	6.43	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	- -	- -	- -	- -	8.13	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	9.9	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	6.43	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	87.7	79.6	91	69.9	93.9	88.9	120.9	116.9	116.3	104.3	106.9	175.7	35.6	43.5	5.8
High Price	167.6	95.1	119.8	92.5	97.1	100.3	124.3	132.9	120.9	119.8	115.8	203	189.4	57	47.2
Enterprise Value Average	212	101	186	140	122	90	113	192	207	223	238	310	107	-175	90
Enterprise Value High	351	144	241	170	160	110	164	226	231	240	260	419	346	-145	132
Enterprise Value Low	108	72	148	112	100	71	80	150	183	203	207	223	44	-191	54

Shares Outstanding	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2
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	129.16	139.2	152.59	164.07	177.44	202.16	175.86	194.18	201.63	210.23	208.93	268.61	258.33	125.78	87.96
EBITDA per Share	- -	- -	- -	- -	- -	5.75	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	5.75	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	6.2	11.92	3.68	-5.54	1.83	4.28	7	11.4	3.5	-6.3	5.7	-0.35	-51.99	5	-59.47
Basic EPS from Cont Ops	6.22	11.94	3.73	-5.51	2	4.28	7	11.4	3.5	-6.3	5.7	-0.35	-51.99	-5.43	-74.22
Diluted EPS, GAAP	6.18	11.91	3.67	-5.54	1.83	4.26	6.9	11.3	3.4	-6.3	5.7	-0.35	-51.99	4.96	-59.47
Diluted EPS from Cont Ops	6.2	11.94	3.72	-5.51	2	4.26	6.9	11.3	3.4	-6.3	5.7	-0.35	-51.99	-5.38	-74.22
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	23.42	29.92	18.07	12.51	17.49	35.48	17.56	27.6	16.55	3.93	-18.14	15.28	-38.2	24.3	-90.74
Free Cash Flow per Basic Share	22.88	29.31	17.19	11.7	17.43	35.13	17.27	25.72	14.22	2.45	-19.3	12.97	-39.12	23.24	-92.03
Cash & Equivalents per Share	28.43	54.45	30.07	231.25	252.6	286.44	303.25	336.72	363.13	365.76	320.32	346.61	336.02	357.03	267.18
Book Value per Share	36.53	49.58	54.45	49.91	52.81	57.09	64.32	75.74	81.4	76.47	90.87	90.75	38.27	42.64	-17.23
Tangible Book Value per Share	52.93	76.47	80.6	73.31	79.31	90.05	99	105.52	111.85	107.1	111.98	117.91	91.67	97.01	33.17

Hallmark Financial Services, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)