Lakeland Bancorp, Inc. Financial Ratios — LBAI 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
Return on Common Equity (%)	- -	- -	- -	8.07	7.85	8.48	8.36	8.75	9.27	10.42	10.43	7.79	12.04	10.68	7
Return on Assets (%)	-0.2	0.7	0.71	0.76	0.8	0.91	0.88	0.93	1	1.13	1.13	0.8	1.2	1.13	0.77
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	3.86	3.46	3.01	2.68	3.18	3.02	2.84	2.84	2.75	3.17	2.46	3.25	3.24	4.97	3.87
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	-11.64	24.65	24.72	27.83	30.44	35.65	36.15	37.99	42.44	41.46	42.61	32.17	50	42.61	36.46
Profit Margin (%)	-4.77	16.14	17.18	19	20.31	23.97	24.14	25.1	27.88	32.74	32.06	24.74	37.32	31.77	27.89
Net Income to Common Margin (%)	-7.59	12.79	15.31	18.46	20.31	23.97	24.14	25.1	27.88	32.74	32.06	24.74	37.32	31.77	27.89
Effective Tax Rate (%)	- -	34.51	30.5	31.71	33.27	32.75	33.23	33.93	34.32	21.03	24.77	23.08	25.36	25.43	23.52
Dvd Payout Ratio (%)	-57.76	18.79	23.52	25.43	32.65	34.81	38.75	38.55	35.86	33.61	35.26	44.26	28.53	34.77	44.93
Sustainable Growth Rate (%)	- -	- -	- -	6.02	5.29	5.53	5.12	5.38	5.94	6.92	6.76	4.34	8.6	6.97	3.86

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
Total Debt	223	272	232	77	110	174	253	366	277	286	304	161	221	241	537
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	223	272	232	77	110	174	253	366	277	286	304	161	221	241	537
Total Debt/EBITDA	51.1	66.05	66.74	24.96	28.17	44.34	66.18	77.88	53.36	46.54	56.07	21.38	26.7	14.32	45.63
Net Debt/EBITDA	37.67	54.1	45.9	-10.11	1.92	16.44	35.2	40.44	25.82	12.61	0.31	-16.8	-2.96	-0.99	16.93
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-1.28	-1.36	8.63	9.58	10.73	10.68	10.32	10.79	10.83	10.88	10.77	9.84	10.07	10.99	11.09
Long-Term Debt/Equity (%)	83.3	104.45	89.43	27.25	31.37	45.79	63.2	66.48	47.49	45.88	41.9	21.14	26.67	21.71	45.89
Long-Term Debt/Capital (%)	91.38	100.2	46.95	21.49	23.64	31.49	38.79	39.96	32.11	31.18	29.59	17.64	21.09	16.89	30.29
Long-Term Debt/Total Assets (%)	8.19	9.75	8.22	2.62	3.32	4.91	6.54	7.18	5.12	4.93	4.53	2.11	2.69	2.23	4.82
Total Debt/Equity (%)	83.3	104.45	89.43	27.25	31.37	45.79	63.2	66.48	47.49	45.88	41.9	21.14	26.67	21.71	45.89
Total Debt/Capital (%)	91.38	100.2	46.95	21.49	23.64	31.49	38.79	39.96	32.11	31.18	29.59	17.64	21.09	16.89	30.29
Total Debt/Total Assets (%)	8.19	9.75	8.22	2.62	3.32	4.91	6.54	7.18	5.12	4.93	4.53	2.11	2.69	2.23	4.82
Net Debt to Equity	61.41	85.55	61.5	-11.04	2.14	16.98	33.62	34.52	22.98	12.43	0.23	-16.61	-2.96	-1.51	17.02
Net Debt/Capital (%)	88.65	100.24	37.84	-12.47	2.07	14.56	25.21	25.68	18.62	10.94	0.22	-19.66	-3	-1.4	13.72
EBITDA	4	4	3	3	4	4	4	5	5	6	5	8	8	17	12
EBITDA-CapEx	1	2	- -	3	4	1	-1	1	1	1	-1	- -	3	10	7
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

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
Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-1.28	-1.36	8.63	9.58	10.73	10.68	10.32	10.79	10.83	10.88	10.77	9.84	10.07	10.99	11.09
Long-Term Debt/Equity (%)	83.3	104.45	89.43	27.25	31.37	45.79	63.2	66.48	47.49	45.88	41.9	21.14	26.67	21.71	45.89
Long-Term Debt/Capital (%)	91.38	100.2	46.95	21.49	23.64	31.49	38.79	39.96	32.11	31.18	29.59	17.64	21.09	16.89	30.29
Long-Term Debt/Total Assets (%)	8.19	9.75	8.22	2.62	3.32	4.91	6.54	7.18	5.12	4.93	4.53	2.11	2.69	2.23	4.82
Total Debt/Equity (%)	83.3	104.45	89.43	27.25	31.37	45.79	63.2	66.48	47.49	45.88	41.9	21.14	26.67	21.71	45.89
Total Debt/Capital (%)	91.38	100.2	46.95	21.49	23.64	31.49	38.79	39.96	32.11	31.18	29.59	17.64	21.09	16.89	30.29
Total Debt/Total Assets (%)	8.19	9.75	8.22	2.62	3.32	4.91	6.54	7.18	5.12	4.93	4.53	2.11	2.69	2.23	4.82
CFO/Total Liabilities	0.92	2.21	1.95	1.84	1.71	1.44	1.18	1.1	1.4	1.53	1.46	1.23	1.29	1.29	1.16
CFO/CapEx	7.45	33.75	14.58	- -	- -	18.31	8.43	12.59	16.99	14.38	14.68	11.27	19.6	19.39	22.81
Altman's Z-Score	0.05	0.07	0.06	0.07	0.09	0.1	0.1	0.13	0.15	0.13	0.14	0.12	0.15	0.14	0.13

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
Accounts Receivable Turnover	12.9	13.38	13.42	14.29	15.14	14.84	14.87	15.2	13.99	12.69	13.38	12.85	13.21	12.85	8.57
Days Sales Outstanding	28.29	27.28	27.2	25.54	24.12	24.59	24.55	24.02	26.1	28.77	27.27	28.4	27.62	28.4	42.57
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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	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
Market Capitalization	98	182	148	196	293	325	338	654	729	576	738	564	872	1,068	940
- Cash & Cash Equivalents	59	49	73	108	103	109	118	176	143	209	282	270	229	236	321
+ Preferred Equity and Hybrid Capital	56	37	18	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	223	272	232	77	110	174	253	366	277	286	304	161	221	241	537
Enterprise Value	318	443	-137	-229	-131	-68	30	237	235	15	4	-400	94	19	210
Total Capital	244	272	495	356	466	552	653	915	862	918	1,027	915	1,046	1,426	1,771
Total Debt/Capital (%)	91.38	100.2	46.95	21.49	23.64	31.49	38.79	39.96	32.11	31.18	29.59	17.64	21.09	16.89	30.29
Total Debt / EV	0.7	0.61	-1.69	-0.33	-0.84	-2.55	8.37	1.54	1.18	19.7	74.89	-0.4	2.35	12.88	2.55
EV/Sales	2.81	3.72	- -	- -	- -	- -	0.22	1.43	1.24	0.07	0.02	- -	0.37	0.06	0.69
EV/EBITDA	72.9	107.44	- -	- -	- -	- -	7.91	50.51	45.2	2.36	0.75	- -	11.36	1.11	17.87
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	14.13	7.91	- -	- -	- -	- -	0.74	4.74	3.48	0.18	0.05	- -	0.99	0.15	1.82
EV/Free Cash Flow to Firm	12.46	7.68	- -	- -	- -	- -	0.66	4.39	3.28	0.17	0.04	- -	0.94	0.14	1.74
Diluted Market Cap	98	183	149	196	294	326	339	657	732	578	741	565	876	1,073	943
Diluted Enterprise Value	318	443	327	165	302	390	474	847	866	655	762	457	868	1,078	1,159
EV per Share	11.62	15.25	- -	- -	- -	- -	0.8	5.53	4.95	0.31	0.08	- -	1.85	0.29	3.23
TTM Sales	113	119	116	114	123	130	135	165	189	194	220	232	255	338	304
TTM EBITDA	4	4	3	3	4	4	4	5	5	6	5	8	8	17	12
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	23	56	50	49	51	46	41	50	67	79	87	85	95	125	116
TTM Free Cash Flow to Firm	26	58	53	49	51	48	46	54	71	85	93	93	100	131	121

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
Price/Free Cash Flow	3.83	3.17	2.79	4.04	5.8	6.78	7.44	12.16	10.25	6.8	7.96	6.11	8.76	8.18	7.81
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	318	443	-137	-229	-131	-68	30	237	235	15	4	-400	94	19	210
Low Price	4.63	5.09	6.39	7.77	8.59	9.52	10.5	9.72	15.06	13.77	14.21	8.31	12.4	13.91	10.65
EV/Sales	2.81	3.72	- -	- -	- -	- -	0.22	1.43	1.24	0.07	0.02	- -	0.37	0.06	0.69
EV/EBITDA	72.9	107.44	- -	- -	- -	- -	7.91	50.51	45.2	2.36	0.75	- -	11.36	1.11	17.87
Price/Earnings	- -	11.98	8.38	9.27	11.73	10.44	10.4	15.75	13.86	9.08	10.45	9.81	9.17	9.95	11.1
Price/Earnings Average	-14.18	9.7	8.99	8.69	10.02	9.37	10	10.12	13.86	11.46	9.46	9.04	8.18	9.39	10.77
Price/Earnings High	-32.64	19.37	16.46	14.39	16.84	14.88	14.56	20.72	19.76	15.91	12.59	15.31	10.35	12.45	15.37
Price/Earnings Low	-14.77	9.71	10.08	10.67	11.95	11.54	12.23	10.05	13.59	10.33	10.15	7.3	6.6	8.37	8.17
Price/Book Value	-2.8	-4.8	0.61	0.7	0.82	0.86	0.85	1.19	1.24	0.91	1.02	0.75	1.06	0.9	0.76
Price/Book Value Average	-3.48	-3.89	0.65	0.66	0.7	0.77	0.81	0.76	1.24	1.15	0.92	0.69	0.94	0.85	0.74
Price/Book Value High	-8.02	-7.76	1.19	1.09	1.18	1.23	1.18	1.57	1.77	1.6	1.23	1.17	1.19	1.13	1.05
Price/Book Value Low	-3.63	-3.89	0.73	0.81	0.84	0.95	0.99	0.76	1.22	1.04	0.99	0.56	0.76	0.76	0.56
Price/Tangible Book Value	0.79	1.35	0.96	1.01	1.23	1.22	1.17	1.59	1.64	1.19	1.31	0.93	1.3	1.29	1.06
Price/Tangible Book Value Average	0.99	1.09	1.03	0.95	1.05	1.09	1.12	1.02	1.64	1.5	1.18	0.86	1.16	1.22	1.03
Price/Tangible Book Value High	2.28	2.18	1.89	1.57	1.76	1.73	1.64	2.09	2.34	2.08	1.58	1.46	1.47	1.62	1.46
Price/Tangible Book Value Low	1.03	1.09	1.16	1.16	1.25	1.34	1.37	1.01	1.61	1.35	1.27	0.7	0.94	1.09	0.78
Price/Sales	0.86	1.53	1.28	1.71	2.38	2.5	2.51	3.95	3.86	2.97	3.35	2.43	3.42	3.16	3.1
Price/Sales Average	1.08	1.24	1.38	1.6	2.03	2.25	2.41	2.54	3.86	3.75	3.03	2.24	3.05	2.98	3
Price/Sales High	2.48	2.48	2.52	2.66	3.42	3.57	3.52	5.2	5.51	5.21	4.04	3.79	3.86	3.96	4.29
Price/Sales Low	1.12	1.24	1.54	1.97	2.43	2.77	2.95	2.52	3.79	3.38	3.25	1.81	2.46	2.66	2.28
Price/Cash Flow	4.34	3.26	2.97	4.03	5.77	7.12	8.29	13.06	10.8	7.25	8.48	6.64	9.17	8.57	8.14
Price/Cash Flow Average	5.4	2.64	3.18	3.78	4.93	6.39	7.97	8.39	10.8	9.14	7.67	6.12	8.18	8.08	7.9
Price/Cash Flow High	12.44	5.27	5.83	6.25	8.29	10.15	11.6	17.18	15.4	12.7	10.21	10.36	10.34	10.72	11.26
Price/Cash Flow Low	5.63	2.64	3.57	4.64	5.88	7.88	9.75	8.33	10.59	8.25	8.23	4.94	6.6	7.21	5.99
Price/Free Cash Flow Average	4.76	2.57	2.99	3.79	4.95	6.08	7.15	7.81	10.25	8.58	7.2	5.63	7.82	7.72	7.59
Price/Free Cash Flow High	10.97	5.12	5.48	6.27	8.33	9.66	10.41	15.99	14.61	11.92	9.59	9.54	9.89	10.24	10.82
Price/Free Cash Flow Low	4.96	2.57	3.36	4.65	5.91	7.49	8.75	7.75	10.05	7.74	7.73	4.55	6.31	6.89	5.76
EV/Sales Average	3.02	3.43	2.92	1.33	2.1	2.74	3.41	3.69	4.57	4.15	3.13	1.77	3.02	3	3.72
EV/Sales High	4.43	4.67	4.06	2.39	3.48	4.06	4.52	6.35	6.22	5.61	4.13	3.32	3.83	3.97	5
EV/Sales Low	3.07	3.43	3.09	1.7	2.49	3.26	3.95	3.67	4.5	3.78	3.35	1.34	2.43	2.67	2.99
EV/EBITDA Average	78.38	99.02	96.88	49.76	65.83	90.88	120.12	129.95	166.22	130.73	127.28	54.47	93.18	60.24	95.99
EV/EBITDA High	114.68	134.71	134.8	88.99	109.35	134.66	158.87	223.69	225.99	176.62	168.18	102.21	118.1	79.83	129.08
EV/EBITDA Low	79.55	99.05	102.42	63.36	78.19	108.17	139.09	129.28	163.47	119.14	136.33	41.23	75.02	53.77	77.26
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	3.57	6.28	5.31	6.75	8.43	8.61	8.93	15.24	15.36	12.1	14.63	11.16	17.22	16.53	14.46
High Price	10.23	10.15	10.43	10.48	12.1	12.27	12.5	20.05	21.9	21.2	17.63	17.42	19.43	20.69	20.02
Enterprise Value Average	342	408	337	153	258	356	459	610	863	804	690	411	770	1,013	1,129
Enterprise Value High	501	555	469	273	428	528	608	1,050	1,173	1,086	911	772	976	1,342	1,518
Enterprise Value Low	347	408	357	194	306	424	532	607	848	733	739	311	620	904	909

	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
Shares Outstanding	28	29	28	31	38	38	38	47	47	47	50	50	51	65	65
Diluted Weighted Avg Shares	27	29	28	29	35	38	38	43	48	48	51	51	51	65	65
Basic Weighted Avg Shares	27	29	28	29	35	38	38	43	47	48	50	51	51	65	65
Revenue per Share	4.13	4.1	4.14	3.95	3.54	3.44	3.56	3.85	3.98	4.07	4.37	4.6	5.03	5.23	4.67
EBITDA per Share	0.16	0.14	0.12	0.11	0.11	0.1	0.1	0.11	0.11	0.13	0.11	0.15	0.16	0.26	0.18
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	-0.31	0.52	0.63	0.73	0.72	0.82	0.86	0.97	1.11	1.33	1.4	1.14	1.88	1.66	1.3
Basic EPS from Cont Ops	-0.2	0.66	0.71	0.75	0.72	0.82	0.86	0.97	1.11	1.33	1.4	1.14	1.88	1.66	1.3
Diluted EPS, GAAP	-0.31	0.52	0.63	0.73	0.72	0.82	0.85	0.96	1.1	1.33	1.4	1.14	1.87	1.65	1.3
Diluted EPS from Cont Ops	-0.2	0.66	0.71	0.75	0.72	0.82	0.85	0.96	1.1	1.33	1.4	1.14	1.87	1.65	1.3
Dividend per Share	0.3	0.24	0.23	0.21	0.23	0.29	0.33	0.37	0.4	0.45	0.49	0.5	0.54	0.58	0.59
Cash Flow per Share	0.82	1.93	1.79	1.68	1.46	1.21	1.08	1.17	1.42	1.67	1.73	1.68	1.88	1.93	1.78
Free Cash Flow per Basic Share	0.71	1.87	1.67	1.68	1.46	1.14	0.95	1.07	1.34	1.55	1.61	1.53	1.78	1.83	1.7
Cash & Equivalents per Share	2.14	1.7	19.22	17.28	15.37	15.01	14.82	18.24	16.25	17.81	20.57	22.28	19.72	19.97	19.48
Book Value per Share	-1.28	-1.31	8.74	9.64	10.25	10.01	10.55	12.8	12.34	13.28	14.32	14.92	16.3	18.33	18.99
Tangible Book Value per Share	4.5	4.67	5.53	6.68	6.88	7.09	7.64	9.58	9.37	10.21	11.19	11.96	13.2	12.81	13.69

Lakeland Bancorp, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)