Mestek, Inc. Financial Ratios — MCCK Stock

Profitability (USD)

	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y
Return on Common Equity (%)	13.57	13.3	11	3.88	-20.26	-38.3	21.21	7.02	7.37	9.59	12.44	11.55	11.02	9.17	7.89
Return on Assets (%)	8.06	8.01	6.22	2.25	-12.1	-17.45	8.36	3.08	4.05	6.28	8.08	7.69	7.53	6.6	5.86
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	12.29	12.44	115.13	- -	- -	- -	-16.92	9.81	11.22	9.51	12.94	12.04	13.75	9.66	7.45
Gross Margin (%)	29	29.14	28.94	20.1	21.94	26.69	25.37	25.61	30.03	30.28	32.28	32.36	34.16	33.95	33.21
EBITDA Margin (%)	10.63	11.16	103.4	102.55	102.6	-8.35	-4.84	4.91	9.28	8.39	10.38	9.86	11.33	8.96	8.57
Operating Margin (%)	8.09	8.33	100	100	100	-10.67	-6.84	6.66	7.9	6.81	8.94	8.45	9.89	7.47	7.21
Incremental Operating Margin (%)	18.66	10.53	48,079.78	100	100	- -	- -	315.26	1.05	69.96	28.53	-3.28	311.88	30.68	2.79
Pretax Margin (%)	7.58	7.65	6.95	-1.01	-0.06	-20.89	4.49	1.85	7.01	6.7	8.44	8.06	7.9	7.1	7.57
Profit Margin (%)	4.72	4.77	4.43	1.74	-8.97	-13.1	6.04	2	2.85	4.17	5	5.03	5.17	5.15	4.56
Net Income to Common Margin (%)	4.72	4.77	4.43	1.74	-8.97	-13.1	6.04	2	2.85	4.17	5	5.03	5.17	5.15	4.56
Effective Tax Rate (%)	37.37	37.59	37.24	- -	- -	- -	4.72	45.78	40.19	37.59	40.66	37.32	34.51	27.15	39.64
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	179.02	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	13.57	13.3	11	3.88	-20.26	-38.3	21.21	7.02	7.37	-7.58	12.44	11.55	11.02	9.17	7.89

Credit (USD)

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	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y
Total Debt	6	26	73	35	12	22	41	11	12	12	11	10	10	10	10
ST Debt	6	6	73	35	7	18	21	1	- -	1	- -	- -	- -	- -	- -
LT Debt	- -	20	- -	- -	5	4	20	11	12	11	10	10	10	10	10
Total Debt/EBITDA	0.18	0.62	0.19	0.09	0.03	-0.82	-2.37	0.63	0.42	0.48	0.31	0.3	0.26	0.36	0.36
Net Debt/EBITDA	0.07	0.51	0.18	0.09	0.03	-0.44	-2.26	0.51	-0.36	0.17	-0.74	-1.29	-1.38	-0.9	-0.91
Total Debt/EBIT	0.23	0.83	0.19	0.1	0.03	-0.64	-1.68	0.46	0.49	0.59	0.36	0.35	0.3	0.44	0.43
Net Debt/EBIT	0.09	0.68	0.19	0.09	0.03	-0.35	-1.6	0.38	-0.42	0.21	-0.86	-1.51	-1.58	-1.08	-1.08
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	61.29	59.3	54.24	61.81	57.34	34.98	43.91	43.9	67.36	63.44	66.29	66.8	69.89	74.04	74.44
Long-Term Debt/Equity (%)	0.33	13.71	0.15	0.11	3.55	4.59	17.59	10.19	8.82	8.84	7.5	6.58	6.33	5.76	5.26
Long-Term Debt/Capital (%)	0.32	11.79	0.1	0.09	3.33	3.82	13.26	9.57	7.78	7.69	6.73	5.94	5.68	5.24	4.87
Long-Term Debt/Total Assets (%)	0.21	8.39	0.08	0.07	2.09	1.68	7.99	4.71	5.76	5.39	4.85	4.27	4.26	4.12	3.82
Total Debt/Equity (%)	4.74	17.43	44.81	20.97	8.47	23.51	35.36	10.86	9.03	10.04	7.62	6.7	6.44	5.76	5.26
Total Debt/Capital (%)	4.68	14.99	31.07	17.47	7.93	19.57	26.65	10.19	7.97	8.73	6.85	6.04	5.78	5.24	4.87
Total Debt/Total Assets (%)	3.08	10.67	24.87	13.17	4.98	8.62	16.06	5.02	5.9	6.12	4.93	4.34	4.33	4.12	3.82
Net Debt to Equity	1.91	14.42	43.32	19.6	6.53	12.75	33.68	8.86	-7.77	3.5	-18.5	-28.54	-33.78	-14.2	-13.22
Net Debt/Capital (%)	1.94	12.73	30.35	16.52	6.23	11.66	25.7	8.47	-8.05	3.22	-21.71	-37.76	-47.43	-15.79	-14.75
EBITDA	36	42	389	373	348	-27	-17	18	28	25	34	34	39	28	28
EBITDA-CapEx	36	42	389	373	348	-27	-17	10	28	25	34	34	39	28	28
Operating Income (Loss)	27	31	376	363	339	-35	-24	25	24	20	30	29	34	23	24

Liquidity (USD)

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	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y
Cash Ratio	0.06	0.07	0.02	0.03	0.04	0.07	0.02	0.02	0.48	0.14	0.64	0.85	1.09	0.74	0.97
Current Ratio	1.72	1.93	1.22	1.53	1.69	1.06	1.54	1.48	2.55	2.07	2.38	2.49	2.78	3.32	3.7
Quick Ratio	0.87	1.05	0.55	0.69	0.74	0.45	0.59	0.63	1.47	1.04	1.46	1.62	1.85	1.59	1.99
CFO/Avg Current Liab	0.35	0.27	0.37	0.11	0.31	0.09	-0.17	0.07	0.33	0.4	0.66	0.4	0.31	0.34	0.12
Common Equity/Total Assets	61.29	59.3	54.24	61.81	57.34	34.98	43.91	43.9	67.36	63.44	66.29	66.8	69.89	74.04	74.44
Long-Term Debt/Equity (%)	0.33	13.71	0.15	0.11	3.55	4.59	17.59	10.19	8.82	8.84	7.5	6.58	6.33	5.76	5.26
Long-Term Debt/Capital (%)	0.32	11.79	0.1	0.09	3.33	3.82	13.26	9.57	7.78	7.69	6.73	5.94	5.68	5.24	4.87
Long-Term Debt/Total Assets (%)	0.21	8.39	0.08	0.07	2.09	1.68	7.99	4.71	5.76	5.39	4.85	4.27	4.26	4.12	3.82
Total Debt/Equity (%)	4.74	17.43	44.81	20.97	8.47	23.51	35.36	10.86	9.03	10.04	7.62	6.7	6.44	5.76	5.26
Total Debt/Capital (%)	4.68	14.99	31.07	17.47	7.93	19.57	26.65	10.19	7.97	8.73	6.85	6.04	5.78	5.24	4.87
Total Debt/Total Assets (%)	3.08	10.67	24.87	13.17	4.98	8.62	16.06	5.02	5.9	6.12	4.93	4.34	4.33	4.12	3.82
CFO/Total Liabilities	34.09	19.63	26.59	11.27	26.5	6.21	-14.29	4.98	32.77	26.03	48.89	28.52	24.86	26.9	8.82
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	0.75	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	3.84	3.57	6.64	7.4	7.69	1.71	2.35	3.54	4.2	4.4	4.85	4.7	4.98	5.03	5.3

Working Capital (USD)

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	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y
Accounts Receivable Turnover	6.23	6.11	5.7	5.89	6.05	6.11	6.71	6.81	5.96	6.34	6.97	7.28	7.33	6.87	6.61
Days Sales Outstanding	58.62	59.71	64.03	61.93	60.3	59.7	54.38	53.61	61.24	57.54	52.35	50.14	49.82	53.09	55.21
Inventory Turnover	4.59	4.94	4.25	4.29	4.23	4.17	4.64	4.45	4.01	4.8	5.24	5.39	5.01	4.52	4.46
Days Inventory Outstanding	79.46	73.9	85.79	85.15	86.35	87.48	78.65	82.11	91.01	76.04	69.62	67.77	72.86	80.81	81.83
Accounts Payable Turnover	11.95	13.92	14.92	15.22	15.18	13.53	15.9	15.35	11.57	16.21	16.25	19.15	17.86	17.84	21.06
Accounts Payable Turnover Days	30.54	26.23	24.46	23.98	24.05	26.98	22.96	23.78	31.55	22.52	22.47	19.06	20.43	20.46	17.33
Cash Conversion Cycle	107.53	107.38	125.36	123.09	122.61	120.19	110.07	111.93	120.71	111.06	99.51	98.85	102.25	113.44	119.7
Inventory to Cash Days	-20.84	-14.19	-21.76	-23.22	-26.05	-27.78	-24.27	-28.5	-29.77	-18.51	-17.27	-17.63	-23.04	-27.72	-26.62
Inventories	53	55	71	65	61	55	60	65	41	46	40	47	44	46	52
Raw Materials	- -	- -	- -	- -	- -	- -	- -	33	27	30	26	29	29	30	39
Work In Process	- -	- -	- -	- -	- -	- -	- -	27	17	20	17	20	18	20	19
Finished Goods	- -	- -	- -	- -	- -	- -	- -	19	12	10	10	10	9	9	8
Other Inventory	53	55	71	65	61	55	60	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y
Market Capitalization	73	70	59	84	63	68	63	90	62	110	129	146	157	180	218
- Cash & Cash Equivalents	4	4	2	2	3	10	2	2	22	8	36	54	65	35	36
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	3	3	3	1	1	1	1	1	2	1	2	2	2	1	1
+ Total Debt	6	26	73	35	12	22	41	11	12	12	11	10	10	10	10
Enterprise Value	79	95	132	118	74	81	103	100	54	115	105	104	105	152	177
Total Capital	135	172	235	202	147	115	154	113	149	138	154	171	179	194	209
Total Debt/Capital (%)	4.68	14.99	31.07	17.47	7.93	19.57	26.65	10.19	7.97	8.73	6.85	6.04	5.78	5.24	4.87
Total Debt / EV	0.08	0.27	0.55	0.3	0.16	0.28	0.4	0.11	0.22	0.1	0.1	0.1	0.1	0.07	0.06
EV/Sales	0.23	0.25	0.35	0.33	0.22	0.25	0.29	0.27	0.18	0.38	0.32	0.3	0.3	0.49	0.54
EV/EBITDA	2.18	2.26	0.34	0.32	0.21	- -	- -	5.47	1.9	4.58	3.06	3.05	2.67	5.44	6.28
EV/EBIT	2.87	3.03	0.35	0.33	0.22	- -	- -	4.04	2.23	5.64	3.55	3.55	3.05	6.52	7.46
EV/Cash Flow to Firm	3.2	5.13	3.81	10.53	2.88	7.95	- -	16.35	2.35	5.73	2.85	4.35	5.4	7.98	27.67
EV/Free Cash Flow to Firm	3.2	5.13	3.81	10.53	2.88	7.95	- -	6.99	2.35	5.73	2.85	4.35	5.4	7.98	27.67
Diluted Market Cap	73	70	59	84	63	68	64	90	62	110	129	146	157	180	218
Diluted Enterprise Value	79	95	132	118	74	81	103	100	54	115	105	104	105	156	193
EV per Share	8.81	10.83	15.1	13.51	8.41	9.33	11.92	11.57	7.09	15.39	14.06	13.85	13.99	20.24	23.66
TTM Sales	338	375	376	363	339	330	357	372	305	299	332	345	347	311	329
TTM EBITDA	36	42	389	373	348	-27	-17	18	28	25	34	34	39	28	28
TTM Operating Income	27	31	376	363	339	-35	-24	25	24	20	30	29	34	23	24
TTM Cash Flow to Firm	25	18	35	11	26	10	-20	6	23	20	37	24	19	19	6
TTM Free Cash Flow to Firm	25	18	35	11	26	10	-20	14	23	20	37	24	19	19	6

Multiples (USD)

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	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y
Price/Free Cash Flow	2.98	3.81	1.7	7.5	2.48	6.65	-3.2	6.28	2.73	5.47	3.5	6.12	8.1	9.47	34.02
EV/EBIT	2.87	3.03	0.35	0.33	0.22	- -	- -	4.04	2.23	5.64	3.55	3.55	3.05	6.52	7.46
Enterprise Value	79	95	132	118	74	81	103	100	54	115	105	104	105	152	177
Low Price	9.19	9.31	7.24	8.45	9.09	8.31	7.83	9.19	8.4	10.37	12.25	16.61	19	17.5	22.5
EV/Sales	0.23	0.25	0.35	0.33	0.22	0.25	0.29	0.27	0.18	0.38	0.32	0.3	0.3	0.49	0.54
EV/EBITDA	2.18	2.26	0.34	0.32	0.21	- -	- -	5.47	1.9	4.58	3.06	3.05	2.67	5.44	6.28
Price/Earnings	4.58	3.93	3.54	13.36	- -	- -	2.95	12.06	7.16	8.79	7.79	8.41	8.76	11.22	14.51
Price/Earnings Average	4.55	3.99	3.59	12.6	-2.34	-1.48	2.87	11.31	6.55	6.2	6.63	8	9.02	9.44	13.38
Price/Earnings High	6.45	5.73	5.44	19.92	-3.45	-2.13	4.17	16.09	10.23	10.17	7.79	10.78	10.49	11.22	14.96
Price/Earnings Low	5.13	4.54	3.81	11.74	-2.61	-1.68	3.15	10.67	7.31	6.2	5.53	7.16	7.93	8.18	11.22
Price/Book Value	0.58	0.49	0.37	0.51	0.47	0.75	0.57	0.9	0.46	0.88	0.91	0.92	0.94	0.98	1.1
Price/Book Value Average	0.58	0.5	0.38	0.48	0.53	0.7	0.55	0.84	0.42	0.62	0.78	0.87	0.97	0.83	1.02
Price/Book Value High	0.82	0.71	0.57	0.76	0.78	1.01	0.8	1.2	0.66	1.01	0.91	1.18	1.13	0.98	1.14
Price/Book Value Low	0.65	0.57	0.4	0.45	0.59	0.8	0.61	0.79	0.47	0.62	0.65	0.78	0.85	0.72	0.85
Price/Tangible Book Value	0.55	0.47	0.36	0.5	0.46	0.91	0.65	1.05	0.57	1.15	1.14	1.13	1.13	1.16	1.27
Price/Tangible Book Value Average	0.55	0.48	0.37	0.47	0.52	0.86	0.63	0.98	0.52	0.81	0.97	1.07	1.16	0.97	1.17
Price/Tangible Book Value High	0.77	0.69	0.56	0.75	0.76	1.23	0.92	1.4	0.81	1.33	1.14	1.45	1.35	1.16	1.31
Price/Tangible Book Value Low	0.62	0.55	0.39	0.44	0.58	0.97	0.69	0.93	0.58	0.81	0.81	0.96	1.02	0.84	0.98
Price/Sales	0.22	0.19	0.16	0.23	0.19	0.21	0.18	0.24	0.2	0.37	0.39	0.42	0.45	0.58	0.66
Price/Sales Average	0.21	0.19	0.16	0.22	0.21	0.19	0.17	0.23	0.19	0.26	0.33	0.4	0.47	0.49	0.61
Price/Sales High	0.3	0.27	0.24	0.35	0.31	0.28	0.25	0.32	0.29	0.42	0.39	0.54	0.54	0.58	0.68
Price/Sales Low	0.24	0.22	0.17	0.2	0.23	0.22	0.19	0.21	0.21	0.26	0.28	0.36	0.41	0.42	0.51
Price/Cash Flow	2.98	3.81	1.7	7.5	2.48	6.65	-3.19	14.69	2.73	5.47	3.5	6.12	8.1	9.47	34.02
Price/Cash Flow Average	2.96	3.87	1.72	7.07	2.79	6.26	-3.11	13.77	2.5	3.86	2.98	5.82	8.34	7.96	31.37
Price/Cash Flow High	4.2	5.56	2.61	11.18	4.1	8.98	-4.51	19.59	3.9	6.33	3.5	7.84	9.7	9.47	35.08
Price/Cash Flow Low	3.34	4.41	1.83	6.59	3.11	7.08	-3.41	12.99	2.79	3.86	2.49	5.21	7.33	6.9	26.31
Price/Free Cash Flow Average	2.96	3.87	1.72	7.07	2.79	6.26	-3.11	5.89	2.5	3.86	2.98	5.82	8.34	7.96	31.37
Price/Free Cash Flow High	4.2	5.56	2.61	11.18	4.1	8.98	-4.52	8.38	3.9	6.33	3.5	7.84	9.7	9.47	35.08
Price/Free Cash Flow Low	3.34	4.41	1.83	6.59	3.11	7.08	-3.42	5.56	2.79	3.86	2.49	5.21	7.33	6.9	26.31
EV/Sales Average	0.23	0.26	0.35	0.31	0.24	0.23	0.28	0.25	0.16	0.28	0.26	0.28	0.32	0.41	0.54
EV/Sales High	0.32	0.34	0.44	0.44	0.34	0.32	0.36	0.35	0.26	0.44	0.32	0.42	0.39	0.5	0.61
EV/Sales Low	0.26	0.28	0.36	0.3	0.26	0.26	0.3	0.24	0.18	0.28	0.2	0.24	0.26	0.34	0.44
EV/EBITDA Average	2.17	2.29	0.34	0.31	0.23	-2.81	-5.88	5.17	1.71	3.29	2.5	2.84	2.78	4.56	6.25
EV/EBITDA High	3.02	3.03	0.42	0.43	0.33	-3.83	-7.49	7.12	2.84	5.26	3.06	4.26	3.46	5.58	7.09
EV/EBITDA Low	2.43	2.52	0.35	0.29	0.26	-3.12	-6.23	4.91	1.94	3.29	1.97	2.41	2.28	3.84	5.1
EV/EBIT Average	2.85	3.06	0.35	0.31	0.24	-2.2	-4.16	3.81	2.01	4.05	2.9	3.31	3.19	5.47	7.42
EV/EBIT High	3.96	4.06	0.44	0.44	0.34	-2.99	-5.31	5.25	3.33	6.48	3.55	4.96	3.96	6.69	8.42
EV/EBIT Low	3.19	3.38	0.36	0.3	0.26	-2.44	-4.41	3.62	2.28	4.06	2.29	2.81	2.62	4.6	6.06
Last Price	8.2	8.05	6.73	9.62	7.26	7.8	7.33	10.39	8.23	14.69	17.25	19.5	21	24	29.1
High Price	11.55	11.74	10.34	14.34	12	10.54	10.36	13.86	11.75	17	17.25	25	25.15	24	30
Enterprise Value Average	78	96	133	114	81	77	102	94	48	83	86	97	109	127	176
Enterprise Value High	108	127	164	160	115	105	129	130	80	132	105	145	136	156	200
Enterprise Value Low	87	106	137	108	90	86	108	90	55	83	68	82	90	107	144

	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y
Shares Outstanding	9	9	9	9	9	9	9	9	- -	7	7	7	7	7	7
Diluted Weighted Avg Shares	9	9	9	9	9	9	9	9	8	7	7	7	7	7	7
Basic Weighted Avg Shares	9	9	9	9	9	9	9	9	8	7	7	7	7	7	7
Revenue per Share	37.92	42.92	42.91	41.45	38.79	37.78	41.2	43.02	40.32	40.09	44.3	46.12	46.34	41.52	43.96
EBITDA per Share	4.03	4.79	44.36	42.5	39.8	-3.15	-2	2.11	3.74	3.36	4.6	4.55	5.25	3.72	3.77
Operating Income per Share	3.07	3.57	42.91	41.45	38.79	-4.03	-2.82	2.86	3.19	2.73	3.96	3.9	4.58	3.1	3.17
Basic EPS, GAAP	1.79	2.05	1.9	0.72	-3.48	-4.95	2.49	0.86	1.15	1.67	2.22	2.32	2.4	2.14	2.01
Basic EPS from Cont Ops	1.51	2.05	1.82	-0.6	-0.54	-5.43	1.76	0.43	1.69	1.68	2.22	2.33	2.4	2.15	2.01
Diluted EPS, GAAP	1.79	2.05	1.9	0.72	-3.48	-4.95	2.48	0.86	1.15	1.67	2.22	2.32	2.4	2.14	2.01
Diluted EPS from Cont Ops	1.51	2.05	1.82	-0.6	-0.54	-5.43	1.76	0.43	1.69	1.68	2.22	2.33	2.4	2.15	2.01
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	3.01	- -	- -	- -	- -	- -
Cash Flow per Share	2.75	2.11	3.96	1.28	2.93	1.17	-2.3	0.71	3.01	2.69	4.93	3.19	2.59	2.54	0.86
Free Cash Flow per Basic Share	2.75	2.11	3.96	1.28	2.93	1.17	-2.3	-0.24	3.01	2.69	4.93	3.19	2.59	2.54	0.86
Cash & Equivalents per Share	0.42	0.51	0.28	0.26	0.31	1.18	0.23	0.24	2.91	1.05	4.82	7.26	8.62	5.23	6.91
Book Value per Share	14.09	16.43	18.16	18.92	15.37	10.45	12.93	11.6	17.88	16.75	18.91	21.23	22.27	24.41	26.41
Tangible Book Value per Share	14.93	16.95	18.59	19.23	15.76	8.58	11.28	9.92	14.53	12.82	15.08	17.27	18.65	20.73	22.95

Mestek, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)