Hudson Pacific Properties, Inc. Financial Ratios — HPP-PC

Profitability (USD)

	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	2024 Y	2025 Y
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	6,373.22	2,811.07	93.07	477.02	-3,836.58	-13,847.01	-26,592.37	-60,273.81
Return on Assets (%)	-0.28	-0.37	-0.12	1.05	0.05	0.44	1.04	1.45	0.61	0.03	0.12	-0.38	-1.98	-4.29	-7.29
Return on Capital (%)	- -	- -	2.55	4.45	- -	2.31	4.43	5.52	3.79	2.3	2.32	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	1.61	2.33	- -	1.47	2.18	2.27	2.34	1.69	1.77	- -	- -	- -	- -
Gross Margin (%)	51.57	53.3	57.39	58.85	63.55	64.24	65.18	63.25	63.15	62.76	62.55	59.68	52.7	46.08	48.53
EBITDA Margin (%)	43.34	42.21	45.14	45.58	52.23	53.3	55.57	52.79	53.09	52.18	53.59	51.41	44.46	36.37	39.6
Operating Margin (%)	10.43	8.89	13.6	19.21	9.1	13.98	18.76	20.41	19.88	15.85	16.28	15.56	3.05	-5.45	-5.36
Incremental Operating Margin (%)	5.11	1.21	30.36	43.29	-0.48	35.37	53.33	4,327.96	15.54	264.83	20.03	10.56	176.74	- -	- -
Pretax Margin (%)	-4.19	-3.4	0.69	9.35	-3.09	6.84	12.99	15.35	6.83	2.04	3.23	-1.61	-17.21	-45.1	-71.3
Profit Margin (%)	-2.27	-3.11	-1.11	9.22	0.39	4.47	9.51	13.64	5.38	0.25	1.13	-3.41	-18.26	-41.84	-67.58
Net Income to Common Margin (%)	-8.34	-11.16	-7.38	4.18	-1.93	4.37	9.42	13.56	5.31	0.18	0.8	-5.46	-20.44	-44.31	-70.06
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	-129.45	-126.07	-250.93	316.43	-163.79	202.23	132.94	127.05	235.38	513.03	338.22	-773.1	-29.19	-3.57	-0.05
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	-1,724.14	-3,805.64	-384.41	-1,136.39	-33,497.04	-17,888.37	-27,540.42	-60,306.69

Credit (USD)

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	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	2024 Y	2025 Y
Total Debt	800	582	888	913	2,261	2,473	2,421	2,828	3,292	3,867	4,222	5,052	4,401	4,623	3,761
ST Debt	400	- -	155	- -	- -	- -	- -	400	75	- -	125	385	451	579	- -
LT Debt	400	582	733	913	2,261	2,473	2,421	2,428	3,217	3,867	4,097	4,667	3,950	4,044	3,761
Total Debt/EBITDA	13.8	8.59	9.57	7.9	8.31	7.25	5.98	7.36	7.58	9.21	8.78	9.57	10.39	15.1	11.43
Net Debt/EBITDA	13.56	8.32	9.25	7.75	8.11	7.01	5.79	7.22	6.84	8.29	7.97	8.33	9.24	13.65	9.96
Total Debt/EBIT	57.35	40.8	31.77	18.75	47.71	27.66	17.73	19.02	20.24	30.3	28.91	31.64	151.6	-100.78	-84.42
Net Debt/EBIT	56.37	39.47	30.68	18.39	46.58	26.74	17.15	18.66	18.28	27.3	26.24	27.53	134.73	-91.12	-73.6
EBITDA to Interest Expense	3.32	3.55	3.64	4.45	5.92	4.76	4.82	4.98	4.36	3.93	3.94	3.52	1.97	1.73	1.91
EBITDA-CapEx/Interest Expense	-3.22	-17.02	-11.66	0.07	-33.37	-4.04	1.75	0.28	4.16	-1.63	2.91	2.74	1.95	1.6	1.78
EBIT to Interest Expense	0.8	0.75	1.1	1.88	1.03	1.25	1.63	1.93	1.63	1.19	1.2	1.07	0.14	-0.26	-0.26
Interest Expense	17	19	25	26	46	72	84	77	100	107	122	150	214	177	172
Common Equity/Total Assets	-1.16	-1.93	-2.09	-1.47	-0.7	-0.23	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.01
Long-Term Debt/Equity (%)	58.06	64.88	66.49	71.58	60.62	66.8	61.91	61.58	83.89	94.42	94.69	120.44	111.22	127.65	117.47
Long-Term Debt/Capital (%)	42.66	77.2	67.39	81.54	52.7	80.63	89.47	74.96	86.45	85.91	78.29	77.16	74.52	75.42	85.16
Long-Term Debt/Total Assets (%)	34.69	37.32	34.41	39.08	36.15	37.03	36.57	34.34	43.08	46.31	45.57	50.08	47.69	49.73	51.75
Total Debt/Equity (%)	116.13	64.88	80.55	71.58	60.62	66.8	61.91	71.72	85.84	94.42	97.58	130.37	123.91	145.93	117.47
Total Debt/Capital (%)	85.33	77.2	81.63	81.54	52.7	80.63	89.47	87.31	88.47	85.91	80.68	83.53	83.03	86.22	85.16
Total Debt/Total Assets (%)	69.37	37.32	41.68	39.08	36.15	37.03	36.57	40	44.09	46.31	46.96	54.21	53.13	56.85	51.75
Net Debt to Equity	114.14	62.77	77.79	70.19	59.19	64.56	59.89	70.36	77.53	85.05	88.56	113.45	110.13	131.94	102.41
Net Debt/Capital (%)	85.11	76.61	81.1	81.24	52.1	80.09	89.16	87.1	80.9	79.39	74.6	75.9	75.21	78.88	76.64
EBITDA	58	68	93	116	272	341	405	385	434	420	481	528	423	306	329
EBITDA-CapEx	-56	-325	-297	2	-1,533	-289	147	22	414	-174	355	411	418	283	307
Operating Income (Loss)	14	14	28	49	47	89	137	149	163	128	146	160	29	-46	-45

Liquidity (USD)

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	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	2024 Y	2025 Y
Cash Ratio	1.1	0.96	0.13	0.22	0.54	0.24	0.47	0.35	0.65	1.05	0.53	0.39	0.15	0.08	0.66
Current Ratio	3.63	5.84	0.7	1.87	5.19	2.3	3.73	0.66	1.51	2.41	2.09	1.05	0.58	0.51	1.83
Quick Ratio	2.68	2.21	0.26	0.84	1.34	0.48	1.13	0.62	1.37	2.11	1.14	0.85	0.53	0.35	1.67
CFO/Avg Current Liab	0.18	2.66	0.34	0.41	1.96	1.01	1.13	0.58	0.67	1.15	0.95	0.68	0.36	0.23	0.24
Common Equity/Total Assets	-1.16	-1.93	-2.09	-1.47	-0.7	-0.23	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.01
Long-Term Debt/Equity (%)	58.06	64.88	66.49	71.58	60.62	66.8	61.91	61.58	83.89	94.42	94.69	120.44	111.22	127.65	117.47
Long-Term Debt/Capital (%)	42.66	77.2	67.39	81.54	52.7	80.63	89.47	74.96	86.45	85.91	78.29	77.16	74.52	75.42	85.16
Long-Term Debt/Total Assets (%)	34.69	37.32	34.41	39.08	36.15	37.03	36.57	34.34	43.08	46.31	45.57	50.08	47.69	49.73	51.75
Total Debt/Equity (%)	116.13	64.88	80.55	71.58	60.62	66.8	61.91	71.72	85.84	94.42	97.58	130.37	123.91	145.93	117.47
Total Debt/Capital (%)	85.33	77.2	81.63	81.54	52.7	80.63	89.47	87.31	88.47	85.91	80.68	83.53	83.03	86.22	85.16
Total Debt/Total Assets (%)	69.37	37.32	41.68	39.08	36.15	37.03	36.57	40	44.09	46.31	46.96	54.21	53.13	56.85	51.75
CFO/Total Liabilities	6.91	6.46	4.04	5.96	6.96	7.62	10.81	6.86	7.93	7.1	6.75	6.79	4.91	3.32	2.98
CFO/CapEx	0.28	0.11	0.11	0.56	0.1	0.36	1.14	0.59	14.05	0.51	2.51	3.17	40.46	7.14	5.48
Altman's Z-Score	0.17	0.18	0.07	0.19	0.18	0.22	0.26	0.14	0.21	0.2	0.23	0.18	0.09	0.03	0.13

Working Capital (USD)

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	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	2024 Y	2025 Y
Accounts Receivable Turnover	11.03	7.19	7.69	6.51	8.07	7.71	7.4	5.45	4.49	3.53	3.49	3.65	3.51	3.66	3.91
Days Sales Outstanding	33.08	50.8	47.48	56.05	45.21	47.36	49.35	66.91	81.35	103.41	104.48	100.01	103.89	99.62	93.24
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	425.66	127.49	183.34	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.86	2.86	1.99	- -	- -
Accounts Payable Turnover	5.4	12.02	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	67.57	30.37	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	-34.48	20.43	47.48	56.05	45.21	47.36	49.35	66.91	81.35	103.41	105.34	102.87	105.88	99.62	93.24
Inventory to Cash Days	33.08	50.8	47.48	56.05	45.21	47.36	49.35	66.91	81.35	103.41	103.62	97.15	101.9	99.62	93.24
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2	5	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2	5	- -	- -	- -

Enterprise Value (USD)

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	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	2024 Y	2025 Y
Market Capitalization	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Cash & Cash Equivalents	14	19	30	18	54	83	79	54	46	114	97	256	100	63	138
+ Preferred Equity and Hybrid Capital	88	145	145	145	10	10	10	10	10	- -	425	425	425	425	425
+ Minority/Non Controlling Interest	63	57	99	96	2,063	599	273	400	418	633	585	570	473	312	230
+ Total Debt	800	582	888	913	2,261	2,473	2,421	2,828	3,292	3,867	4,222	5,052	4,401	4,623	3,761
Enterprise Value	937	765	1,102	1,136	4,281	3,000	2,626	3,037	3,532	4,251	5,006	5,791	5,199	5,297	4,278
Total Capital	937	754	1,088	1,119	4,290	3,067	2,706	3,239	3,721	4,502	5,233	6,048	5,300	5,362	4,417
Total Debt/Capital (%)	85.33	77.2	81.63	81.54	52.7	80.63	89.47	87.31	88.47	85.91	80.68	83.53	83.03	86.22	85.16
Total Debt / EV	0.85	0.76	0.81	0.8	0.53	0.82	0.92	0.93	0.93	0.91	0.84	0.87	0.85	0.87	0.88
EV/Sales	7.01	4.77	5.36	4.48	8.22	4.69	3.61	4.17	4.32	5.28	5.58	5.64	5.46	6.29	5.15
EV/EBITDA	16.17	11.3	11.88	9.83	15.74	8.8	6.49	7.9	8.13	10.12	10.42	10.98	12.28	17.3	13
EV/EBIT	67.19	53.63	39.43	23.33	90.33	33.55	19.22	20.43	21.72	33.31	34.28	36.26	179.09	- -	- -
EV/Cash Flow to Firm	18.9	12.36	16.45	12.75	19.31	10.06	6.97	10.41	9.11	10.4	11.46	11.15	11.41	15.45	14.6
EV/Free Cash Flow to Firm	5.72	1.68	2.41	5.6	2.11	3.23	4.14	4.64	8.66	4.24	8.91	9.1	11.27	14.48	13.57
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Enterprise Value	937	765	1,102	1,136	4,281	3,000	2,626	3,184	3,673	4,386	5,135	5,791	5,199	5,297	4,278
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Sales	134	160	206	253	521	640	728	728	818	805	897	1,026	952	842	831
TTM EBITDA	58	68	93	116	272	341	405	385	434	420	481	528	423	306	329
TTM Operating Income	14	14	28	49	47	89	137	149	163	128	146	160	29	-46	-45
TTM Cash Flow to Firm	50	62	67	89	222	298	377	292	388	409	437	519	456	343	293
TTM Free Cash Flow to Firm	164	454	457	203	2,026	928	635	655	408	1,003	562	636	461	366	315

Multiples (USD)

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	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	2024 Y	2025 Y
Price/Free Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	67.19	53.63	39.43	23.33	90.33	33.55	19.22	20.43	21.72	33.31	34.28	36.26	179.09	- -	- -
Enterprise Value	937	765	1,102	1,136	4,281	3,000	2,626	3,037	3,532	4,251	5,006	5,791	5,199	5,297	4,278
Low Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	24.55	11.85	7.63	11.1	11.23
EV/Sales	7.01	4.77	5.36	4.48	8.22	4.69	3.61	4.17	4.32	5.28	5.58	5.64	5.46	6.29	5.15
EV/EBITDA	16.17	11.3	11.88	9.83	15.74	8.8	6.49	7.9	8.13	10.12	10.42	10.98	12.28	17.3	13
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales Average	7.01	4.77	5.36	4.48	8.22	4.69	3.61	4.37	4.49	5.45	5.73	5.64	5.46	6.29	5.15
EV/Sales High	7.01	4.77	5.36	4.48	8.22	4.69	3.61	4.37	4.49	5.45	5.73	5.64	5.46	6.29	5.15
EV/Sales Low	7.01	4.77	5.36	4.48	8.22	4.69	3.61	4.37	4.49	5.45	5.73	5.64	5.46	6.29	5.15
EV/EBITDA Average	16.17	11.3	11.88	9.83	15.74	8.8	6.49	8.28	8.46	10.44	10.68	10.98	12.28	17.3	13
EV/EBITDA High	16.17	11.3	11.88	9.83	15.74	8.8	6.49	8.28	8.46	10.44	10.68	10.98	12.28	17.3	13
EV/EBITDA Low	16.17	11.3	11.88	9.83	15.74	8.8	6.49	8.28	8.46	10.44	10.68	10.98	12.28	17.3	13
EV/EBIT Average	67.19	53.63	39.43	23.33	90.33	33.55	19.22	21.42	22.59	34.37	35.16	36.26	179.09	-115.47	-96.01
EV/EBIT High	67.19	53.63	39.43	23.33	90.33	33.55	19.22	21.42	22.59	34.37	35.16	36.26	179.09	-115.47	-96.01
EV/EBIT Low	67.19	53.63	39.43	23.33	90.33	33.55	19.22	21.42	22.59	34.37	35.16	36.26	179.09	-115.47	-96.01
Last Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	19.93	10.33	12.85	14.03	15.51
High Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	26.11	26	15.44	15.57	16.5
Enterprise Value Average	937	765	1,102	1,136	4,281	3,000	2,626	3,184	3,673	4,386	5,135	5,791	5,199	5,297	4,278
Enterprise Value High	937	765	1,102	1,136	4,281	3,000	2,626	3,184	3,673	4,386	5,135	5,791	5,199	5,297	4,278
Enterprise Value Low	937	765	1,102	1,136	4,281	3,000	2,626	3,184	3,673	4,386	5,135	5,791	5,199	5,297	4,278

	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	2024 Y	2025 Y
Shares Outstanding	5	7	8	10	13	19	22	22	22	22	22	20	20	20	54
Diluted Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Revenue per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow per Basic Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash & Equivalents per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Tangible Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Hudson Pacific Properties, Inc.

Profitability (USD)

Credit (USD)

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Working Capital (USD)

Enterprise Value (USD)

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Per Share Data Items (USD)