Lake Shore Bancorp, Inc. Financial Ratios — LSBK Stock

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
As of date	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	12/31/2024	12/31/2025

Return on Common Equity (%)	9.6	8.8	8.49	6.72	6.73	6.72	6.15	6.93	6.74	7.15	9.08	7.84	6.26	6.09	8.48
Return on Assets (%)	0.76	0.75	0.78	0.65	0.69	0.73	0.67	0.75	0.71	0.7	0.88	0.81	0.68	0.7	1.03
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 (%)	3.9	3.88	4.08	4.47	4.76	4.48	4.38	3.79	3.75	3.66	3.43	3.17	2.99	3.03	2.2
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	30.21	27	27.47	22.22	23.12	22.23	23.48	22.47	21.99	23.48	29.68	25.4	23.04	24.07	31.44
Profit Margin (%)	21.91	21.23	21.83	18.84	19.03	18.22	17.38	19.6	18.95	19.88	24.57	21.11	17.86	20.24	26.11
Net Income to Common Margin (%)	21.91	21.23	21.83	18.84	19.03	18.22	17.38	19.6	18.95	19.88	24.57	21.11	17.86	20.24	26.11
Effective Tax Rate (%)	27.46	21.34	20.55	15.22	17.66	18.07	25.97	12.76	13.81	15.31	17.23	16.91	22.5	15.94	16.94
Dvd Payout Ratio (%)	17.58	25.59	15.68	18.68	18.3	25.26	22	22	31.12	22.38	17.52	25.23	- -	21.94	23.06
Sustainable Growth Rate (%)	7.92	6.55	7.15	5.47	5.5	5.02	4.8	5.4	4.64	5.55	7.49	5.86	6.26	4.75	6.53

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
As of date	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	12/31/2024	12/31/2025

Total Debt	34	26	20	19	21	19	27	25	35	30	22	38	35	10	- -
ST Debt	7	11	12	- -	- -	- -	- -	- -	- -	- -	- -	13	- -	- -	- -
LT Debt	27	14	8	19	21	19	27	25	35	30	22	25	35	10	- -
Total Debt/EBITDA	52.12	38.61	27.9	25.27	25.36	21.91	31.63	31.85	42.83	35.42	25.38	43.86	43.68	13.87	- -
Net Debt/EBITDA	33.14	20.87	13.49	-10.78	1.37	4.59	14.87	16.18	5.39	-15.74	-52.76	32.61	-22.9	-30.96	-105.03
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	8.15	8.82	9.48	9.9	10.77	10.96	10.84	10.85	10.15	9.55	9.9	10.71	10.9	12.09	12.16
Long-Term Debt/Equity (%)	42.58	21.5	12.03	26.46	28.63	24.92	34.39	30.89	41.83	34.62	24.95	30.73	40.86	11.41	- -
Long-Term Debt/Capital (%)	36.81	21.13	12.04	28.2	29.32	26.11	32.39	29.39	35.84	31.22	23.7	22.18	30.85	11.01	- -
Long-Term Debt/Total Assets (%)	5.57	2.99	1.63	3.89	4.47	3.87	5.19	4.52	5.67	4.34	3.08	3.56	4.86	1.5	- -
Total Debt/Equity (%)	53.39	38.22	29.88	26.46	28.63	24.92	34.39	30.89	41.83	34.62	24.95	46.25	40.86	11.41	- -
Total Debt/Capital (%)	46.15	37.57	29.91	28.2	29.32	26.11	32.39	29.39	35.84	31.22	23.7	33.38	30.85	11.01	- -
Total Debt/Total Assets (%)	6.99	5.31	4.04	3.89	4.47	3.87	5.19	4.52	5.67	4.34	3.08	5.36	4.86	1.5	- -
Net Debt to Equity	33.95	20.65	14.45	-11.29	1.54	5.22	16.17	15.7	5.26	-15.39	-51.87	34.38	-21.42	-25.46	-45.38
Net Debt/Capital (%)	35.27	24.54	17.11	-20.12	2.19	6.9	18.39	17.46	6.57	-25.27	-182.36	27.14	-30.52	-38.14	-265.66
EBITDA	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
EBITDA-CapEx	- -	-1	- -	- -	- -	- -	-1	- -	- -	- -	- -	- -	- -	1	- -
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

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
As of date	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	12/31/2024	12/31/2025

Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	8.15	8.82	9.48	9.9	10.77	10.96	10.84	10.85	10.15	9.55	9.9	10.71	10.9	12.09	12.16
Long-Term Debt/Equity (%)	42.58	21.5	12.03	26.46	28.63	24.92	34.39	30.89	41.83	34.62	24.95	30.73	40.86	11.41	- -
Long-Term Debt/Capital (%)	36.81	21.13	12.04	28.2	29.32	26.11	32.39	29.39	35.84	31.22	23.7	22.18	30.85	11.01	- -
Long-Term Debt/Total Assets (%)	5.57	2.99	1.63	3.89	4.47	3.87	5.19	4.52	5.67	4.34	3.08	3.56	4.86	1.5	- -
Total Debt/Equity (%)	53.39	38.22	29.88	26.46	28.63	24.92	34.39	30.89	41.83	34.62	24.95	46.25	40.86	11.41	- -
Total Debt/Capital (%)	46.15	37.57	29.91	28.2	29.32	26.11	32.39	29.39	35.84	31.22	23.7	33.38	30.85	11.01	- -
Total Debt/Total Assets (%)	6.99	5.31	4.04	3.89	4.47	3.87	5.19	4.52	5.67	4.34	3.08	5.36	4.86	1.5	- -
CFO/Total Liabilities	1.45	1.63	1.29	1.05	1.24	1.04	1.32	1.31	1.11	0.93	1.37	1.33	0.97	0.42	1.37
CFO/CapEx	28.48	3.71	8.19	6.93	10.81	9.18	3.94	7.47	7.2	14.04	13.64	20.21	15.87	- -	14.28
Altman's Z-Score	0.21	0.22	0.24	0.26	0.27	0.3	0.29	0.28	0.25	0.22	0.24	0.24	0.24	0.26	0.32

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
As of date	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	12/31/2024	12/31/2025

Accounts Receivable Turnover	9.03	9.18	9.56	9.57	10.43	11.88	11.43	10.99	10.61	8.92	9.21	10.25	9.59	8.62	9.56
Days Sales Outstanding	40.42	39.77	38.19	38.13	35.01	30.72	31.94	33.21	34.41	40.92	39.64	35.63	38.07	42.35	38.19
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
As of date	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	12/31/2024	12/31/2025

Market Capitalization	40	43	51	57	58	73	78	67	68	57	65	52	51	57	110
- Cash & Cash Equivalents	12	12	10	27	20	15	14	12	30	43	68	10	54	33	64
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	34	26	20	19	21	19	27	25	35	30	22	38	35	10	- -
Enterprise Value	-102	-102	-97	-89	-54	-10	10	-6	1	-36	-70	7	-28	-18	-7
Total Capital	74	68	65	67	72	73	83	84	97	95	93	112	114	93	88
Total Debt/Capital (%)	46.15	37.57	29.91	28.2	29.32	26.11	32.39	29.39	35.84	31.22	23.7	33.38	30.85	11.01	- -
Total Debt / EV	-0.33	-0.25	-0.2	-0.21	-0.39	-1.99	2.68	-3.93	32.19	-0.83	-0.32	5.15	-1.26	-0.57	- -
EV/Sales	- -	- -	- -	- -	- -	- -	0.52	0.07	0.05	- -	- -	0.27	- -	0.1	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	11.82	1.76	1.33	- -	- -	8.52	- -	3.43	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	1.73	0.22	0.18	- -	- -	0.89	- -	1.01	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	1.38	0.2	0.16	- -	- -	0.85	- -	1.01	- -
Diluted Market Cap	40	43	52	57	59	73	78	67	68	57	65	52	51	57	110
Diluted Enterprise Value	62	57	61	49	60	77	90	80	72	44	19	80	32	34	46
EV per Share	- -	- -	- -	- -	- -	- -	1.64	0.22	0.18	- -	- -	1.24	- -	0.33	- -
TTM Sales	17	17	17	17	18	19	19	20	22	23	25	27	27	24	28
TTM EBITDA	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	6	7	5	4	5	4	6	6	6	6	9	8	6	3	8
TTM Free Cash Flow to Firm	6	9	6	5	5	5	7	7	7	6	9	9	7	3	9

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
As of date	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	12/31/2024	12/31/2025

Price/Free Cash Flow	6.31	5.02	8.59	11.56	10.88	15.3	10.65	9.72	10.22	9.47	7.06	6.09	7.71	22.68	12.84
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-102	-102	-97	-89	-54	-10	10	-6	1	-36	-70	7	-28	-18	-7
Low Price	6.23	6.12	6.65	8.83	9.6	9.58	11.2	10.81	10.52	6.61	9.53	8.73	7.02	7.61	8.63
EV/Sales	- -	- -	- -	- -	- -	- -	0.52	0.07	0.05	- -	- -	0.27	- -	0.1	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	11.82	1.76	1.33	- -	- -	8.52	- -	3.43	- -
Price/Earnings	10.91	11.88	13.65	18.2	17.37	20.72	23.04	16.85	16.62	12.47	10.48	9.19	10.55	11.53	15.11
Price/Earnings Average	11.46	11.71	12.89	16.81	17.52	17.42	21.31	18.62	16.48	12.42	10.4	10.61	9.83	10.46	12.63
Price/Earnings High	15.99	12.23	16.44	18.8	20.54	21.12	23.36	20.14	17.63	15.25	11.26	11.61	11.84	11.92	15.66
Price/Earnings Low	9.64	9.56	10.08	16.05	16.84	16.52	20.36	16.38	15.47	8.58	9.08	9	8.56	8.65	8.9
Price/Book Value	1.01	1.01	1.12	1.19	1.14	1.36	1.38	1.14	1.1	0.87	0.92	0.7	0.64	0.69	1.24
Price/Book Value Average	1.06	1	1.06	1.1	1.15	1.14	1.28	1.26	1.09	0.86	0.91	0.81	0.6	0.62	1.04
Price/Book Value High	1.48	1.04	1.35	1.23	1.34	1.38	1.4	1.36	1.16	1.06	0.99	0.88	0.72	0.71	1.29
Price/Book Value Low	0.89	0.82	0.83	1.05	1.1	1.08	1.22	1.11	1.02	0.6	0.79	0.69	0.52	0.51	0.73
Price/Tangible Book Value	0.63	0.64	0.78	0.8	0.78	0.96	0.99	0.84	0.82	0.66	0.74	0.65	0.59	0.63	0.78
Price/Tangible Book Value Average	0.66	0.63	0.74	0.74	0.79	0.81	0.92	0.93	0.81	0.66	0.73	0.75	0.55	0.57	0.65
Price/Tangible Book Value High	0.92	0.66	0.94	0.83	0.93	0.98	1.01	1.01	0.87	0.81	0.79	0.82	0.66	0.65	0.8
Price/Tangible Book Value Low	0.55	0.52	0.58	0.71	0.76	0.76	0.88	0.82	0.76	0.46	0.64	0.63	0.48	0.47	0.46
Price/Sales	2.39	2.52	2.98	3.43	3.31	3.78	4	3.3	3.15	2.48	2.57	1.94	1.88	2.33	3.95
Price/Sales Average	2.51	2.49	2.81	3.17	3.34	3.17	3.7	3.65	3.12	2.47	2.56	2.24	1.76	2.12	3.3
Price/Sales High	3.5	2.6	3.59	3.54	3.91	3.85	4.06	3.95	3.34	3.03	2.77	2.45	2.11	2.41	4.09
Price/Sales Low	2.11	2.03	2.2	3.02	3.21	3.01	3.54	3.21	2.93	1.71	2.23	1.9	1.53	1.75	2.32
Price/Cash Flow	6.52	6.38	9.49	13.22	11.68	16.96	13.35	11.02	11.64	10.14	7.58	6.39	8.19	22.68	13.74
Price/Cash Flow Average	6.85	6.29	8.97	12.21	11.79	14.26	12.35	12.18	11.54	10.11	7.53	7.38	7.64	20.56	11.48
Price/Cash Flow High	9.57	6.57	11.43	13.66	13.82	17.29	13.54	13.17	12.35	12.4	8.15	8.08	9.2	23.44	14.23
Price/Cash Flow Low	5.76	5.13	7.01	11.66	11.33	13.52	11.81	10.72	10.83	6.98	6.57	6.26	6.65	17	8.09
Price/Free Cash Flow Average	6.63	4.95	8.11	10.67	10.98	12.86	9.85	10.74	10.13	9.43	7.01	7.04	7.19	20.56	10.73
Price/Free Cash Flow High	9.25	5.17	10.35	11.94	12.87	15.59	10.8	11.62	10.84	11.58	7.59	7.69	8.65	23.44	13.3
Price/Free Cash Flow Low	5.57	4.04	6.34	10.19	10.55	12.19	9.41	9.45	9.51	6.52	6.12	5.97	6.26	17	7.56
EV/Sales Average	3.8	3.3	3.36	2.68	3.4	3.38	4.36	4.26	3.33	1.89	0.74	3.27	1.07	1.18	0.99
EV/Sales High	4.8	3.41	4.14	3.06	3.98	4.05	4.71	4.56	3.54	2.45	0.95	3.48	1.43	1.47	1.78
EV/Sales Low	3.4	2.84	2.75	2.54	3.27	3.21	4.19	3.82	3.13	1.13	0.42	2.93	0.84	0.81	0.01
EV/EBITDA Average	97.52	84.91	82.54	59.98	71.51	75.39	99.36	112.41	88.62	51.67	21.66	103.39	35.83	38.83	45
EV/EBITDA High	123	87.78	101.52	68.38	83.59	90.42	107.5	120.25	94.47	66.99	27.76	110.02	47.83	48.58	80.97
EV/EBITDA Low	87.28	73.16	67.45	56.82	68.78	71.71	95.61	100.83	83.55	30.84	12.16	92.62	28.23	26.74	0.64
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	7.05	7.6	9.01	10.01	9.9	12.02	12.67	11.12	11.3	9.6	11	8.91	8.65	10.15	14.66
High Price	10.34	7.83	10.85	10.34	11.71	12.25	12.85	13.29	11.99	11.74	11.82	11.26	9.71	10.49	15.19
Enterprise Value Average	64	56	58	45	60	65	85	87	72	43	19	89	29	29	28
Enterprise Value High	81	58	71	51	70	78	92	93	76	56	24	94	39	36	50
Enterprise Value Low	57	49	47	43	57	62	81	78	68	26	11	79	23	20	- -

Shares Outstanding	6	6	6	6	6	6	6	6	6	6	6	6	6	6	8
Diluted Weighted Avg Shares	6	6	6	6	6	6	6	6	6	6	6	6	6	6	7
Basic Weighted Avg Shares	6	6	6	6	6	6	6	6	6	6	6	6	6	6	7
Revenue per Share	2.95	3.01	3.02	2.92	2.99	3.18	3.16	3.37	3.59	3.87	4.27	4.6	4.59	4.35	3.71
EBITDA per Share	0.12	0.12	0.12	0.13	0.14	0.14	0.14	0.13	0.13	0.14	0.15	0.15	0.14	0.13	0.08
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	0.65	0.64	0.66	0.55	0.57	0.58	0.55	0.66	0.68	0.77	1.05	0.97	0.82	0.88	0.97
Basic EPS from Cont Ops	0.65	0.64	0.66	0.55	0.57	0.58	0.55	0.66	0.68	0.77	1.05	0.97	0.82	0.88	0.97
Diluted EPS, GAAP	0.65	0.64	0.65	0.55	0.56	0.58	0.55	0.66	0.68	0.77	1.05	0.97	0.82	0.88	0.97
Diluted EPS from Cont Ops	0.65	0.64	0.65	0.55	0.56	0.58	0.55	0.66	0.68	0.77	1.05	0.97	0.82	0.88	0.97
Dividend per Share	0.11	0.16	0.1	0.1	0.1	0.15	0.12	0.15	0.21	0.17	0.18	0.24	- -	0.19	0.22
Cash Flow per Share	1.08	1.19	0.95	0.76	0.85	0.71	0.95	1.01	0.97	0.95	1.45	1.39	1.06	0.45	1.07
Free Cash Flow per Basic Share	1.04	0.87	0.83	0.65	0.77	0.63	0.71	0.87	0.84	0.88	1.34	1.33	0.99	0.45	0.99
Cash & Equivalents per Share	31.02	30.21	29.63	28.78	22.75	16.72	15.42	16.22	16.89	20.65	26.54	14.05	19.42	15.17	15.59
Book Value per Share	7	7.51	8.06	8.4	8.71	8.85	9.16	9.77	10.32	11.07	11.99	12.73	13.44	14.79	11.81
Tangible Book Value per Share	11.23	11.82	11.51	12.48	12.62	12.55	12.76	13.17	13.78	14.52	14.93	13.8	14.68	16.04	18.9

Lake Shore Bancorp, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)