The Marcus Corporation Financial Ratios — MCS Stock

Profitability (USD)

	2012 Y	2013 Y	2014 Y	2015 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 (%)	7.08	5.49	7.87	7.22	- -	19.82	15.91	11.8	8.72	-29.16	-12.66	-3.82	4.78	-2.55	4.24
Return on Assets (%)	3.19	2.37	3.3	3.04	- -	8.32	6.74	5.32	3.58	-9.55	-3.54	-1.06	1.39	-0.74	1.23
Return on Capital (%)	5.17	3.09	5.86	5.01	- -	12.56	10.46	8.45	5.95	- -	- -	- -	3.34	- -	- -
Return on Invested Capital (%)	4.86	4.45	4.45	5.18	- -	12.23	9.59	8.47	5.7	- -	- -	- -	2.73	- -	- -
Gross Margin (%)	48.21	47.63	46.88	46.78	- -	44.4	43.17	43.5	40.14	21.52	40.1	38	39.27	39.07	38.68
EBITDA Margin (%)	19.66	17.89	18.43	18.9	- -	19.79	19.79	20.49	17.34	-33.11	7.95	11.35	14.03	12.42	12.11
Operating Margin (%)	11.24	9.62	10.91	10.97	- -	12.44	11.83	11.76	8.54	-64.68	-7.79	1.45	4.8	3.18	2.86
Incremental Operating Margin (%)	35.28	640.21	26.09	11.69	10.97	12.44	7.36	10.98	-11.54	- -	- -	20.77	48.29	-194.64	-7.41
Pretax Margin (%)	9.05	8.4	8.42	8.06	- -	10.54	10.42	9.42	6.63	-82.38	-12.87	-0.29	2.97	-1.39	1.15
Profit Margin (%)	5.49	4.24	5.58	4.92	- -	6.6	9.95	7.55	5.12	-52.52	-9.45	-1.77	2.03	-1.06	1.67
Net Income to Common Margin (%)	5.49	4.24	5.58	4.92	- -	6.6	9.95	7.55	5.12	-52.52	-9.45	-1.77	2.03	-1.06	1.67
Effective Tax Rate (%)	39.28	32.73	44.58	39.87	- -	37.99	5.32	19.71	22.63	- -	- -	- -	31.67	- -	- -
Dvd Payout Ratio (%)	42.7	122.15	54.79	44.61	- -	32.38	21.11	30.66	45.75	-4.12	- -	-49.39	50.35	-112.8	72.16
Sustainable Growth Rate (%)	4.05	-1.22	3.56	4	- -	13.4	12.56	8.18	4.73	-30.36	-12.66	-5.71	2.37	-5.43	1.18

Credit (USD)

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	2012 Y	2013 Y	2014 Y	2015 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	240	276	269	271	- -	316	338	267	485	563	515	408	379	353	335
ST Debt	102	16	12	23	- -	19	20	16	26	120	78	27	28	28	19
LT Debt	138	260	257	248	- -	297	318	251	459	443	437	380	351	324	316
Total Debt/EBITDA	2.95	3.73	3.26	2.94	- -	2.78	2.61	1.84	3.41	-7.16	14.14	5.3	3.7	3.86	3.65
Net Debt/EBITDA	2.44	3.15	2.83	2.61	- -	2.47	2.21	1.53	1.37	-3.61	6.72	2.06	1.12	1.3	1.48
Total Debt/EBIT	5.16	6.94	5.5	5.06	- -	4.42	4.37	3.21	6.92	-3.66	-14.43	41.48	10.82	15.08	15.47
Net Debt/EBIT	4.26	5.86	4.78	4.49	- -	3.92	3.69	2.67	2.79	-1.85	-6.86	16.15	3.26	5.06	6.25
EBITDA to Interest Expense	8.78	7.94	7.82	9.29	- -	12.38	10.69	11.08	12.07	-4.84	1.95	5.03	8.04	8.32	8.01
EBITDA-CapEx/Interest Expense	8.78	7.94	7.82	9.29	- -	12.38	10.69	11.08	12.07	-4.84	1.95	5.03	8.04	8.32	8.01
EBIT to Interest Expense	5.02	4.27	4.63	5.4	- -	7.79	6.39	6.36	5.94	-9.45	-1.91	0.64	2.75	2.13	1.89
Interest Expense	9	9	11	10	- -	9	12	13	12	16	19	15	13	11	11
Common Equity/Total Assets	44.72	41.48	42.34	41.92	- -	41.96	42.68	47.54	36.28	28.95	26.99	28.73	29.42	28.46	29.66
Long-Term Debt/Equity (%)	40.07	82.04	77.86	71.62	- -	75.95	71.46	51.23	73.91	88.89	96.43	83.23	74.47	69.73	69.18
Long-Term Debt/Capital (%)	24.27	43.65	42.96	40.5	- -	42.49	41.19	34.05	46.96	47.85	52.33	53.23	50.67	49.88	49.72
Long-Term Debt/Total Assets (%)	18.79	34.8	33.41	30.65	- -	32.64	31.25	25.38	33.8	35.35	36.81	35.72	32.94	31.03	31.19
Total Debt/Equity (%)	69.77	87.02	81.47	78.21	- -	80.71	75.86	54.46	78.07	112.98	113.56	89.24	80.45	75.86	73.35
Total Debt/Capital (%)	42.25	46.29	44.95	44.22	- -	45.15	43.73	36.2	49.59	60.81	61.62	57.07	54.74	54.26	52.72
Total Debt/Total Assets (%)	32.72	36.91	34.96	33.47	- -	34.69	33.18	26.98	35.69	44.93	43.35	38.3	35.59	33.76	33.07
Net Debt to Equity	57.64	73.45	70.86	69.52	- -	71.53	64.16	45.24	31.46	56.95	53.97	34.74	24.25	25.45	29.64
Net Debt/Capital (%)	35.28	39.75	39.54	39.74	- -	40.2	37.78	30.78	20.42	30.88	29.92	22.91	17.94	19.42	22.12
EBITDA	81	74	83	92	- -	114	129	145	142	-79	36	77	102	91	92
EBITDA-CapEx	81	74	83	92	- -	114	129	145	142	-79	36	77	102	91	92
Operating Income (Loss)	47	40	49	54	- -	71	77	83	70	-154	-36	10	35	23	22

Liquidity (USD)

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	2012 Y	2013 Y	2014 Y	2015 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	0.04	0.11	0.07	0.05	- -	0.02	0.13	0.15	0.15	0.04	0.1	0.16	0.37	0.28	0.14
Current Ratio	0.2	0.4	0.36	0.36	- -	0.28	0.48	0.46	0.45	0.31	0.47	0.41	0.67	0.57	0.45
Quick Ratio	0.1	0.21	0.19	0.22	- -	0.15	0.39	0.36	0.35	0.22	0.37	0.3	0.49	0.4	0.26
CFO/Avg Current Liab	0.54	0.48	0.69	0.71	- -	1.27	0.75	0.89	0.87	-0.35	0.21	0.5	0.64	0.61	0.5
Common Equity/Total Assets	44.72	41.48	42.34	41.92	- -	41.96	42.68	47.54	36.28	28.95	26.99	28.73	29.42	28.46	29.66
Long-Term Debt/Equity (%)	40.07	82.04	77.86	71.62	- -	75.95	71.46	51.23	73.91	88.89	96.43	83.23	74.47	69.73	69.18
Long-Term Debt/Capital (%)	24.27	43.65	42.96	40.5	- -	42.49	41.19	34.05	46.96	47.85	52.33	53.23	50.67	49.88	49.72
Long-Term Debt/Total Assets (%)	18.79	34.8	33.41	30.65	- -	32.64	31.25	25.38	33.8	35.35	36.81	35.72	32.94	31.03	31.19
Total Debt/Equity (%)	69.77	87.02	81.47	78.21	- -	80.71	75.86	54.46	78.07	112.98	113.56	89.24	80.45	75.86	73.35
Total Debt/Capital (%)	42.25	46.29	44.95	44.22	- -	45.15	43.73	36.2	49.59	60.81	61.62	57.07	54.74	54.26	52.72
Total Debt/Total Assets (%)	32.72	36.91	34.96	33.47	- -	34.69	33.18	26.98	35.69	44.93	43.35	38.3	35.59	33.76	33.07
CFO/Total Liabilities	17.73	14.7	15.14	17.38	- -	15.91	19.04	27.52	19.18	-9.07	6.29	15.34	17.28	17.93	15.11
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	1.8	1.74	1.95	2.02	- -	2.4	2.22	2.95	2.04	0.35	1.01	1.45	1.66	1.84	1.69

Working Capital (USD)

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	2012 Y	2013 Y	2014 Y	2015 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	103.47	94.56	93.69	85.73	- -	180.92	74.28	71.48	91.9	48.85	97.64	86.36	101.73	101.21	109.4
Days Sales Outstanding	3.53	3.86	3.9	4.26	- -	2.02	4.91	5.11	3.97	7.47	3.74	4.23	3.59	3.61	3.34
Inventory Turnover	167.94	90.28	104.46	108.81	- -	143.94	87.4	97.44	100.17	40.97	65.77	79.43	76.54	69.57	66.44
Days Inventory Outstanding	2.17	4.04	3.49	3.35	- -	2.54	4.18	3.75	3.64	8.91	5.55	4.6	4.77	5.25	5.49
Accounts Payable Turnover	10.94	9.75	8.46	7.67	-0.13	20.75	8.97	8.98	11.35	5.9	11.28	12.38	12.74	10.2	9.77
Accounts Payable Turnover Days	33.37	37.43	43.15	47.56	-2,732.74	17.59	40.7	40.65	32.15	61.91	32.36	29.48	28.64	35.78	37.36
Cash Conversion Cycle	-27.67	-29.52	-35.76	-39.95	- -	-13.04	-31.61	-31.79	-24.53	-45.53	-23.07	-20.66	-20.29	-26.93	-28.53
Inventory to Cash Days	1.35	-0.18	0.4	0.9	- -	-0.52	0.74	1.36	0.33	-1.44	-1.81	-0.37	-1.18	-1.64	-2.16
Inventories	3	2	2	2	- -	4	4	4	6	3	5	6	6	7	7
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	3	2	2	2	- -	4	4	4	6	3	5	6	6	7	7

Enterprise Value (USD)

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	2012 Y	2013 Y	2014 Y	2015 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	385	348	459	540	525	872	762	1,120	983	419	561	454	463	680	475
- Cash & Cash Equivalents	6	10	7	7	- -	3	16	17	21	7	18	22	56	41	23
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	10	4	2	- -	2	- -	- -	- -	- -	- -	1	- -	- -	- -
+ Total Debt	240	276	269	271	- -	316	338	267	485	563	515	408	379	353	335
Enterprise Value	619	623	724	807	525	1,186	1,079	1,364	1,442	974	1,054	837	781	983	787
Total Capital	568	595	598	612	- -	700	772	737	978	927	836	714	692	650	636
Total Debt/Capital (%)	42.25	46.29	44.95	44.22	- -	45.15	43.73	36.2	49.59	60.81	61.62	57.07	54.74	54.26	52.72
Total Debt / EV	0.39	0.44	0.37	0.34	- -	0.27	0.31	0.2	0.34	0.58	0.49	0.49	0.49	0.36	0.43
EV/Sales	1.5	1.51	1.62	1.65	- -	2.07	1.65	1.93	1.76	4.1	2.3	1.24	1.07	1.34	1.04
EV/EBITDA	7.61	8.44	8.77	8.74	- -	10.44	8.34	9.42	10.13	- -	28.93	10.88	7.63	10.77	8.57
EV/EBIT	13.31	15.69	14.82	15.06	- -	16.59	13.96	16.4	20.58	- -	- -	85.11	22.29	42.06	36.31
EV/Cash Flow to Firm	8.29	8.97	10.02	9.33	- -	13.43	8.96	9.23	9.57	- -	17.58	5.1	7.01	8.76	7.8
EV/Free Cash Flow to Firm	8.29	8.97	10.02	9.33	- -	13.43	8.96	9.23	9.57	- -	17.58	5.1	7.01	8.76	7.8
Diluted Market Cap	389	358	459	543	530	881	777	1,134	990	419	561	454	598	686	485
Diluted Enterprise Value	622	633	724	809	530	1,195	1,098	1,384	1,454	975	1,059	841	921	997	797
EV per Share	21.42	23.02	26.54	29.27	18.97	42.86	38.75	48.13	46.59	31.36	33.54	26.54	24.61	31.1	25.69
TTM Sales	414	413	448	488	- -	574	654	707	821	238	458	677	730	736	758
TTM EBITDA	81	74	83	92	- -	114	129	145	142	-79	36	77	102	91	92
TTM Operating Income	47	40	49	54	- -	71	77	83	70	-154	-36	10	35	23	22
TTM Cash Flow to Firm	75	69	72	86	- -	88	120	148	151	-58	60	164	111	112	101
TTM Free Cash Flow to Firm	75	69	72	86	- -	88	120	148	151	-58	60	164	111	112	101

Multiples (USD)

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	2012 Y	2013 Y	2014 Y	2015 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	5.63	5.67	6.9	6.75	- -	10.65	7.12	8.26	7	-6.11	12.14	4.87	5.82	6.6	5.76
EV/EBIT	13.31	15.69	14.82	15.06	- -	16.59	13.96	16.4	20.58	- -	- -	85.11	22.29	42.06	36.31
Enterprise Value	619	623	724	807	525	1,186	1,079	1,364	1,442	974	1,054	837	781	983	787
Low Price	8	10.27	11.9	14.52	17.22	17.44	23.85	23.55	30.46	6.84	12.3	13.41	13.69	9.56	12.85
EV/Sales	1.5	1.51	1.62	1.65	- -	2.07	1.65	1.93	1.76	4.1	2.3	1.24	1.07	1.34	1.04
EV/EBITDA	7.61	8.44	8.77	8.74	- -	10.44	8.34	9.42	10.13	- -	28.93	10.88	7.63	10.77	8.57
Price/Earnings	16.94	19.87	18.34	22.51	- -	23	11.72	20.97	23.4	- -	- -	- -	31.26	- -	37.45
Price/Earnings Average	14.48	19.4	15.49	21.06	- -	16.35	12.6	18.38	26.91	-3.85	-13.47	-42.22	33.17	-60.01	40.39
Price/Earnings High	17.75	22.22	19.46	25.5	- -	23.47	14.96	23.69	33.75	-8.45	-17.94	-50.67	38.7	-94.04	54.03
Price/Earnings Low	10.17	15.88	12.99	16.67	- -	12.73	10.22	12.5	22.43	-1.7	-8.93	-35.32	29.35	-38.82	31.02
Price/Book Value	1.17	1.12	1.41	1.59	- -	2.28	1.75	2.38	1.99	1.15	1.75	1.48	1.48	2.29	1.58
Price/Book Value Average	1	1.1	1.19	1.49	- -	1.62	1.89	2.09	2.29	1.32	1.82	1.65	1.57	1.57	1.7
Price/Book Value High	1.23	1.26	1.49	1.8	- -	2.33	2.24	2.69	2.88	2.91	2.42	1.98	1.83	2.46	2.28
Price/Book Value Low	0.71	0.9	1	1.18	- -	1.26	1.53	1.42	1.91	0.59	1.21	1.38	1.39	1.02	1.31
Price/Tangible Book Value	1.33	1.33	1.66	1.85	- -	2.59	1.95	2.56	1.83	1.01	1.51	1.21	1.19	1.77	1.27
Price/Tangible Book Value Average	1.14	1.3	1.4	1.73	- -	1.85	2.09	2.24	2.11	1.15	1.57	1.35	1.26	1.22	1.36
Price/Tangible Book Value High	1.4	1.48	1.76	2.09	- -	2.65	2.48	2.89	2.64	2.53	2.09	1.62	1.47	1.91	1.83
Price/Tangible Book Value Low	0.8	1.06	1.18	1.37	- -	1.44	1.7	1.53	1.76	0.51	1.04	1.13	1.12	0.79	1.05
Price/Sales	0.93	0.84	1.02	1.11	- -	1.52	1.17	1.58	1.2	1.76	1.22	0.67	0.63	0.92	0.63
Price/Sales Average	0.8	0.82	0.86	1.04	- -	1.08	1.25	1.39	1.38	2.02	1.27	0.75	0.67	0.64	0.68
Price/Sales High	0.98	0.94	1.09	1.25	- -	1.55	1.49	1.79	1.73	4.44	1.69	0.9	0.78	1	0.9
Price/Sales Low	0.56	0.67	0.73	0.82	- -	0.84	1.02	0.94	1.15	0.89	0.84	0.62	0.6	0.41	0.52
Price/Cash Flow	5.58	5.5	6.9	6.71	- -	10.55	6.99	8.15	6.95	-6.11	12.14	4.87	4.51	6.54	5.64
Price/Cash Flow Average	4.77	5.37	5.83	6.28	- -	7.5	7.51	7.14	7.99	-7.01	12.61	5.42	4.78	4.5	6.09
Price/Cash Flow High	5.85	6.16	7.32	7.61	- -	10.76	8.92	9.21	10.02	-15.39	16.79	6.51	5.58	7.04	8.14
Price/Cash Flow Low	3.35	4.4	4.89	4.97	- -	5.84	6.09	4.86	6.66	-3.1	8.36	4.54	4.23	2.91	4.68
Price/Free Cash Flow Average	4.81	5.53	5.83	6.31	- -	7.58	7.66	7.23	8.05	-7.01	12.61	5.42	6.18	4.53	6.22
Price/Free Cash Flow High	5.9	6.34	7.32	7.64	- -	10.87	9.09	9.32	10.09	-15.39	16.79	6.51	7.21	7.11	8.31
Price/Free Cash Flow Low	3.38	4.53	4.89	5	- -	5.9	6.21	4.92	6.71	-3.1	8.36	4.54	5.47	2.93	4.77
EV/Sales Average	1.36	1.49	1.46	1.58	- -	1.63	1.74	1.74	1.94	4.36	2.36	1.32	1.12	1.06	1.09
EV/Sales High	1.54	1.61	1.68	1.8	- -	2.1	1.98	2.14	2.29	6.78	2.78	1.47	1.23	1.42	1.32
EV/Sales Low	1.12	1.34	1.32	1.37	- -	1.39	1.51	1.3	1.71	3.24	1.93	1.2	1.04	0.83	0.93
EV/EBITDA Average	6.92	8.32	7.91	8.37	- -	8.22	8.82	8.5	11.21	-13.18	29.66	11.6	7.96	8.53	8.98
EV/EBITDA High	7.83	8.99	9.11	9.52	- -	10.6	10	10.46	13.22	-20.48	34.96	12.92	8.76	11.43	10.86
EV/EBITDA Low	5.71	7.49	7.15	7.23	- -	7.01	7.62	6.33	9.88	-9.77	24.26	10.53	7.4	6.72	7.68
EV/EBIT Average	12.1	15.48	13.36	14.41	- -	13.07	14.75	14.8	22.77	-6.75	-30.29	90.77	23.24	33.32	38.03
EV/EBIT High	13.7	16.73	15.39	16.4	- -	16.85	16.73	18.21	26.87	-10.48	-35.7	101.06	25.58	44.66	46.02
EV/EBIT Low	10	13.94	12.09	12.45	- -	11.15	12.75	11.03	20.08	-5	-24.77	82.36	21.63	26.27	32.55
Last Price	13.33	12.85	16.8	19.6	18.97	31.5	27.35	39.5	31.77	13.48	17.86	14.39	14.58	21.5	15.51
High Price	13.97	14.37	17.82	22.21	22.21	32.15	34.9	44.61	45.82	33.96	24.71	19.24	18.05	23.16	22.38
Enterprise Value Average	563	615	653	772	546	934	1,140	1,231	1,595	1,037	1,081	892	814	779	825
Enterprise Value High	637	664	752	878	614	1,204	1,294	1,515	1,882	1,612	1,274	994	896	1,044	998
Enterprise Value Low	465	553	591	667	476	797	986	918	1,407	769	884	810	758	614	706

	2012 Y	2013 Y	2014 Y	2015 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	29	27	27	28	- -	28	28	28	31	31	31	32	32	32	31
Diluted Weighted Avg Shares	29	28	27	28	28	28	28	29	31	31	31	32	41	32	31
Basic Weighted Avg Shares	29	27	27	28	28	28	28	28	31	31	31	32	32	32	31
Revenue per Share	14.33	15.25	16.41	17.71	- -	20.76	23.46	24.94	26.53	7.65	14.58	21.48	23	23.26	24.75
EBITDA per Share	2.82	2.73	3.02	3.35	- -	4.11	4.64	5.11	4.6	-2.53	1.16	2.44	3.23	2.89	3
Operating Income per Share	1.61	1.47	1.79	1.94	- -	2.58	2.78	2.93	2.26	-4.95	-1.14	0.31	1.1	0.74	0.71
Basic EPS, GAAP	0.79	0.65	0.92	0.87	- -	1.37	2.33	1.88	1.36	-4.02	-1.38	-0.38	0.47	-0.25	0.41
Basic EPS from Cont Ops	0.79	0.86	0.77	0.86	- -	1.36	2.32	1.89	1.36	-4.02	-1.38	-0.29	0.47	-0.25	0.41
Diluted EPS, GAAP	0.78	0.63	0.92	0.87	- -	1.36	2.29	1.86	1.35	-4.02	-1.38	-0.38	0.36	-0.24	0.41
Diluted EPS from Cont Ops	0.78	0.84	0.77	0.85	- -	1.34	2.27	1.86	1.35	-4.02	-1.38	-0.29	0.36	-0.24	0.41
Dividend per Share	0.34	1.32	0.34	0.38	- -	0.43	0.48	0.58	0.62	0.17	- -	0.1	0.23	0.28	0.3
Cash Flow per Share	2.39	2.33	2.43	2.92	- -	2.99	3.91	4.85	4.57	-2.21	1.47	2.96	3.24	3.29	2.75
Free Cash Flow per Basic Share	2.39	2.33	2.43	2.92	- -	2.99	3.91	4.85	4.57	-2.21	1.47	2.96	3.24	3.29	2.75
Cash & Equivalents per Share	0.21	0.38	0.25	0.24	- -	0.12	0.73	0.79	0.86	0.26	0.71	0.81	1.92	1.55	0.77
Book Value per Share	11.35	11.44	11.92	12.31	- -	13.82	15.6	16.59	15.93	11.69	10.21	9.7	9.88	9.4	9.82
Tangible Book Value per Share	9.99	9.68	10.1	10.62	- -	12.14	14.05	15.42	17.32	13.4	11.82	11.89	12.27	12.11	12.26

The Marcus Corporation

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)