Kansas City Life Insurance Company Financial Ratios — KCLI

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 (%)	3.28	5.04	3.6	3.52	3.36	2.52	5.66	1.68	2.59	1.59	1.12	-1.72	4.42	-0.99	-2.21
Return on Assets (%)	0.6	0.92	0.67	0.66	0.65	0.5	1.15	0.33	0.48	0.28	0.2	-0.31	0.85	-0.19	-0.42
Return on Capital (%)	3.28	5.04	3.6	3.52	3.36	2.52	- -	1.68	2.59	1.59	1.12	- -	4.42	- -	- -
Return on Invested Capital (%)	- -	5.63	4.08	4.09	4.16	3.31	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	- -	13.47	9.19	9.24	9.55	6.96	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Margin (%)	- -	13.47	9.19	9.24	9.55	6.96	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	288.27	266.76	-35.7	7.96	3.38	-273.6	-563.51	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	9.47	13.47	9.19	9.24	9.55	6.96	6.5	3.77	5.75	3.12	2.61	-4.36	10.8	-2.48	-6.58
Profit Margin (%)	6.23	9.32	6.21	6.45	6.61	5	11.42	3.44	4.77	2.98	2.16	-3.41	8.56	-1.95	-4.27
Net Income to Common Margin (%)	6.23	9.32	6.21	6.45	6.61	5	11.42	3.44	4.77	2.98	2.16	-3.41	8.56	-1.95	-4.27
Effective Tax Rate (%)	34.17	30.83	32.37	30.23	30.74	28.11	- -	8.81	17.06	4.68	17.15	- -	20.69	- -	- -
Dvd Payout Ratio (%)	47.22	36.59	39.55	39.38	39.48	46.86	20.29	66.72	42.81	68.94	97.7	-41.2	12.8	-56.67	-26.12
Sustainable Growth Rate (%)	1.73	3.2	2.17	2.13	2.03	1.34	4.51	0.56	1.48	0.49	0.03	-2.42	3.86	-1.55	-2.79

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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBITDA	- -	-0.12	-0.18	-0.26	-0.19	-0.31	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	-0.12	-0.18	-0.26	-0.19	-0.31	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	18.28	18.31	18.7	18.85	19.89	20.03	20.55	18.86	18.23	17.5	17.6	18.8	19.44	19.3	18.72
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt to Equity	-1.47	-0.94	-1.13	-1.48	-1.18	-1.4	-1.29	-4.58	-1.76	-0.79	-0.65	-1.58	-1.59	-1.25	-1.27
Net Debt/Capital (%)	-1.32	-0.85	-0.98	-1.29	-0.9	-1.09	-1.03	-3.5	-1.52	-0.76	-0.57	-0.84	-1	-0.86	-0.92
EBITDA	- -	59	44	43	42	31	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx	- -	59	44	41	42	30	-2	-20	-2	-2	-1	-1	-1	-1	- -
Operating Income (Loss)	- -	59	44	43	42	31	- -	- -	- -	- -	- -	- -	- -	- -	- -

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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	18.28	18.31	18.7	18.85	19.89	20.03	20.55	18.86	18.23	17.5	17.6	18.8	19.44	19.3	18.72
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Total Liabilities	0.49	0.37	1.47	1	0.42	0.55	0.38	1.52	- -	0.13	-1.01	-1.21	-1.14	-1.36	-3.05
CFO/CapEx	70.23	17.57	67.18	22.89	22.98	22.27	6.34	3.18	0.06	3.2	-73.76	-101.55	-55.17	-44.69	-500.2
Altman's Z-Score	0.4	0.46	0.48	0.47	0.47	0.47	0.45	0.4	0.39	0.38	0.39	0.39	0.41	0.41	0.4

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	4.42	2.32	2.53	2.41	2.25	2.31	2.42	1.65	1.38	1.32	1.25	1.19	1.22	1.24	1.23
Days Sales Outstanding	82.64	157.24	143.99	151.2	162.4	158.26	151	220.95	265.33	276	291.98	307.63	299.31	294.03	296.29
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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	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	375	417	525	525	406	460	438	358	325	368	412	256	339	355	311
- Cash & Cash Equivalents	10	7	8	11	8	10	10	32	14	7	5	8	10	8	8
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-2,404	-2,423	-2,165	-2,277	-2,230	-2,132	-2,139	-2,436	-2,716	-2,877	-2,757	-20	52	81	2
Total Capital	804	829	843	862	879	891	931	938	952	956	956	934	982	953	926
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt / EV	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.11	0.16	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	375	417	525	525	406	460	438	358	325	368	412	256	339	355	311
Diluted Enterprise Value	364	410	517	514	399	450	429	327	311	361	406	248	329	347	302
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	5.37	8.34	0.22
TTM Sales	419	442	484	465	442	446	452	456	512	509	495	476	495	491	486
TTM EBITDA	- -	59	44	43	42	31	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Operating Income	- -	59	44	43	42	31	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	18	14	56	38	16	21	15	65	- -	6	-46	-54	-51	-58	-131
TTM Free Cash Flow to Firm	18	15	57	40	16	22	17	86	3	8	-46	-54	-50	-57	-130

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	20.64	28.32	9.28	13.16	24.82	21.08	26.07	4.19	129.38	47.55	-9.01	-4.75	-6.83	-6.22	-2.39
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-2,404	-2,423	-2,165	-2,277	-2,230	-2,132	-2,139	-2,436	-2,716	-2,877	-2,757	-20	52	81	2
Low Price	28.01	30.81	32	40.09	37.83	35	43.85	33.76	31.3	23.06	36.05	26.1	20	33	27.45
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.11	0.16	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	14.34	10.13	17.48	17.5	13.91	20.61	8.5	22.86	13.3	24.26	38.45	- -	8	- -	- -
Price/Earnings Average	13.7	9.25	15.13	16.84	16.87	17.61	8.89	25.14	13.45	19.58	38.93	-20.61	5.86	-36.6	-15.08
Price/Earnings High	15.77	10.62	18.49	19.13	18.69	21.44	9.49	28.11	14.71	24.89	41.66	-26.57	8.46	-39.47	-17.02
Price/Earnings Low	12.24	8.18	11.71	14.61	13.74	15.19	8.24	20.86	12.41	14.72	32.61	-15.58	4.57	-33.39	-12.8
Price/Book Value	0.47	0.5	0.62	0.61	0.46	0.52	0.47	0.38	0.34	0.38	0.43	0.27	0.34	0.37	0.34
Price/Book Value Average	0.45	0.46	0.54	0.59	0.56	0.44	0.49	0.42	0.35	0.31	0.44	0.36	0.25	0.37	0.34
Price/Book Value High	0.51	0.53	0.66	0.67	0.62	0.54	0.53	0.47	0.38	0.39	0.47	0.46	0.36	0.4	0.38
Price/Book Value Low	0.4	0.41	0.42	0.51	0.46	0.38	0.46	0.35	0.32	0.23	0.36	0.27	0.2	0.34	0.29
Price/Tangible Book Value	0.53	0.56	0.73	0.71	0.61	0.67	0.59	0.52	0.4	0.4	0.5	0.52	0.56	0.55	0.47
Price/Tangible Book Value Average	0.5	0.51	0.63	0.68	0.74	0.57	0.62	0.57	0.41	0.33	0.5	0.68	0.41	0.54	0.47
Price/Tangible Book Value High	0.58	0.58	0.77	0.77	0.82	0.7	0.66	0.64	0.44	0.42	0.54	0.88	0.59	0.58	0.53
Price/Tangible Book Value Low	0.45	0.45	0.49	0.59	0.6	0.49	0.58	0.47	0.37	0.25	0.42	0.51	0.32	0.49	0.4
Price/Sales	0.89	0.94	1.09	1.13	0.92	1.03	0.97	0.79	0.63	0.72	0.83	0.54	0.68	0.72	0.64
Price/Sales Average	0.85	0.86	0.94	1.09	1.12	0.88	1.02	0.86	0.64	0.58	0.84	0.7	0.5	0.71	0.64
Price/Sales High	0.98	0.99	1.15	1.23	1.24	1.07	1.08	0.97	0.7	0.74	0.9	0.91	0.72	0.77	0.73
Price/Sales Low	0.76	0.76	0.73	0.94	0.91	0.76	0.94	0.72	0.59	0.44	0.71	0.53	0.39	0.65	0.55
Price/Cash Flow	20.93	29.93	9.42	13.74	25.9	22.02	30.19	5.51	2,461.2	62.43	-8.89	-4.71	-6.71	-6.08	-2.38
Price/Cash Flow Average	20	27.31	8.16	13.22	31.43	18.81	31.58	6.05	2,489.55	50.38	-9	-6.15	-4.91	-6	-2.4
Price/Cash Flow High	23.01	31.38	9.97	15.02	34.8	22.9	33.69	6.77	2,721.63	64.07	-9.63	-7.93	-7.09	-6.47	-2.71
Price/Cash Flow Low	17.86	24.17	6.32	11.47	25.59	16.23	29.25	5.02	2,296.14	37.89	-7.54	-4.65	-3.83	-5.47	-2.04
Price/Free Cash Flow Average	19.72	25.84	8.04	12.67	30.12	18	27.28	4.61	130.87	38.38	-9.12	-6.21	-5	-6.14	-2.4
Price/Free Cash Flow High	22.69	29.69	9.82	14.39	33.35	21.92	29.1	5.15	143.07	48.81	-9.76	-8.01	-7.22	-6.62	-2.71
Price/Free Cash Flow Low	17.61	22.86	6.22	10.99	24.52	15.53	25.27	3.82	120.71	28.86	-7.64	-4.7	-3.9	-5.6	-2.04
EV/Sales Average	0.83	0.85	0.92	1.06	1.1	0.86	0.99	0.79	0.61	0.57	0.83	0.69	0.48	0.7	0.63
EV/Sales High	0.96	0.97	1.13	1.21	1.22	1.05	1.06	0.9	0.67	0.73	0.89	0.89	0.7	0.75	0.71
EV/Sales Low	0.74	0.75	0.71	0.92	0.89	0.74	0.92	0.65	0.56	0.42	0.69	0.51	0.37	0.63	0.53
EV/EBITDA Average	- -	6.28	10.05	11.49	11.5	12.35	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA High	- -	7.23	12.32	13.09	12.76	15.1	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Low	- -	5.54	7.74	9.94	9.33	10.61	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	6.28	10.05	11.49	11.5	12.35	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	7.23	12.32	13.09	12.76	15.1	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	5.54	7.74	9.94	9.33	10.61	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	32.82	38.16	47.74	48.03	38.29	47.5	45.25	37	33.55	38	42.5	26.4	35	36.67	32.1
High Price	36.09	40.01	50.5	52.49	51.45	49.4	50.5	45.5	37.1	39	46.05	44.5	37	39.01	36.5
Enterprise Value Average	348	373	447	494	485	383	449	362	314	290	411	327	239	342	305
Enterprise Value High	402	430	548	563	538	469	480	409	345	370	441	423	349	370	345
Enterprise Value Low	309	330	344	427	394	329	415	295	289	216	344	245	184	311	257

	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	11	11	11	11	10	10	10	10	10	10	10	10	10	10	10
Diluted Weighted Avg Shares	11	11	11	11	11	10	10	10	10	10	10	10	10	10	10
Basic Weighted Avg Shares	11	11	11	11	11	10	10	10	10	10	10	10	10	10	10
Revenue per Share	36.72	40.41	43.95	42.58	41.64	46.06	46.63	47.07	52.92	52.59	51.08	49.15	51.1	50.68	50.2
EBITDA per Share	- -	5.44	4.04	3.93	3.98	3.21	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	5.44	4.04	3.93	3.98	3.21	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	2.29	3.77	2.73	2.74	2.75	2.3	5.32	1.62	2.52	1.57	1.11	-1.67	4.38	-0.99	-2.14
Basic EPS from Cont Ops	2.29	3.77	2.73	2.74	2.75	2.3	5.32	1.62	2.52	1.57	1.11	-1.67	4.38	-0.99	-2.14
Diluted EPS, GAAP	2.29	3.77	2.73	2.74	2.75	2.3	5.32	1.62	2.52	1.57	1.11	-1.67	4.38	-0.99	-2.14
Diluted EPS from Cont Ops	2.29	3.77	2.73	2.74	2.75	2.3	5.32	1.62	2.52	1.57	1.11	-1.67	4.38	-0.99	-2.14
Dividend per Share	1.08	1.38	1.08	1.08	1.09	1.08	1.08	1.08	1.08	1.08	1.08	0.69	0.56	0.56	0.56
Cash Flow per Share	1.57	1.27	5.07	3.5	1.48	2.16	1.5	6.72	0.01	0.61	-4.78	-5.61	-5.22	-6.03	-13.48
Free Cash Flow per Basic Share	1.55	1.2	4.99	3.34	1.41	2.06	1.26	4.61	-0.23	0.42	-4.85	-5.67	-5.31	-6.16	-13.51
Cash & Equivalents per Share	243.31	259.9	244.48	256.39	248.4	267.68	266.1	288.58	314.02	335.14	327.17	28.51	29.63	28.33	31.88
Book Value per Share	70.41	75.85	76.64	78.85	82.84	92.03	96.16	96.82	98.26	98.75	98.77	96.41	101.46	98.37	95.67
Tangible Book Value per Share	62.23	68.67	65.63	67.97	62.54	70.8	76.13	71.43	83.72	93.84	85.76	50.78	62.93	66.99	68.73

Kansas City Life Insurance Company

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)