Mastech Digital, Inc. Financial Ratios — MHH 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
Return on Common Equity (%)	37.82	- -	- -	144.86	50.5	31.15	15.94	46.48	47.81	29.16	27.24	15.75	-12.72	6.27	1.08
Return on Assets (%)	5.83	11.82	22.74	18.46	9.41	6.47	2.36	7	12.17	10.24	11.31	7.82	-6.67	3.14	0.55
Return on Capital (%)	37.82	84.26	339.58	144.49	23.49	13.06	4.75	12.67	19.33	16.67	18.99	13.02	- -	5.8	1.03
Return on Invested Capital (%)	11.15	19.06	36.61	31.96	13.99	9.81	4.82	10.66	10.77	13.44	12.38	9.31	- -	3.3	- -
Gross Margin (%)	19.73	18.91	18.82	18.31	19.28	19.92	21.39	24	24.79	26.55	26.78	26.08	25.38	27.95	27.72
EBITDA Margin (%)	2.91	3.89	5.12	5.05	4.33	4.18	4.07	7.61	7.41	8.75	8.43	6.77	1.48	3.66	1.74
Operating Margin (%)	2.76	3.71	4.97	4.92	3.79	3.41	2.76	5.82	5.64	6.91	6.63	5.04	-0.44	1.91	- -
Incremental Operating Margin (%)	13.29	11.19	12.06	4.06	-9.09	-2.05	-2.68	21.26	3.72	471.54	4.75	-12.5	- -	-216.52	50.05
Pretax Margin (%)	2.67	3.68	4.89	4.85	3.58	3.05	1.99	5.31	7.86	6.51	7.61	5.16	-4.49	2.22	0.55
Profit Margin (%)	1.38	2.36	3.56	3.02	2.23	1.91	1.1	3.78	5.76	5.08	5.5	3.6	-3.55	1.71	0.32
Net Income to Common Margin (%)	1.38	2.36	3.56	3.02	2.23	1.91	1.1	3.78	5.76	5.08	5.5	3.6	-3.55	1.71	0.32
Effective Tax Rate (%)	36.98	38.36	37.44	37.85	37.79	37.31	44.84	28.93	26.77	21.94	27.63	30.25	- -	23.1	42.66
Dvd Payout Ratio (%)	- -	324.68	64.94	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	37.82	- -	- -	144.86	50.5	31.15	15.94	46.48	47.81	29.16	27.24	15.75	-12.72	6.27	1.08

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	- -	3	- -	- -	13	10	38	39	30	21	18	5	5	4	2
ST Debt	- -	3	- -	- -	2	2	4	5	6	5	6	3	1	1	1
LT Debt	- -	- -	- -	- -	11	8	34	34	24	15	12	2	4	2	1
Total Debt/EBITDA	- -	0.74	- -	- -	2.35	1.79	6.33	2.87	2.09	1.22	0.98	0.3	1.7	0.51	0.73
Net Debt/EBITDA	-2.45	0.55	-0.08	-0.45	2.19	1.64	5.92	2.77	1.55	0.56	0.35	-0.36	-7.1	-3.81	-10.99
Total Debt/EBIT	- -	0.77	- -	- -	2.68	2.19	9.35	3.76	2.75	1.54	1.24	0.4	-5.8	0.99	2,421
Net Debt/EBIT	-2.59	0.58	-0.08	-0.46	2.5	2.01	8.74	3.63	2.04	0.72	0.44	-0.49	24.17	-7.32	-36,533
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	17.68	-6.29	3.82	20.33	17.75	23.73	11.21	19.16	31.89	37.97	44.69	54.82	49.94	50.19	50.58
Long-Term Debt/Equity (%)	- -	- -	- -	- -	67.95	42.35	125.77	99.57	51.86	25.53	16.67	2.67	4.72	2.84	1.27
Long-Term Debt/Capital (%)	- -	- -	- -	- -	55.44	42.01	69.41	60.47	40.78	25.58	17.91	3.55	6.67	4.16	1.93
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	27.91	20.5	34.63	36.86	26.5	14.9	10.88	2.11	3.65	2.23	1.02
Total Debt/Equity (%)	- -	37.9	0.13	- -	79.34	51.79	140.51	112.92	64.77	34.74	24.57	5.7	6.24	4.29	2.71
Total Debt/Capital (%)	- -	165.4	1.81	- -	64.74	51.37	77.54	68.57	50.92	34.8	26.4	7.58	8.81	6.28	4.1
Total Debt/Total Assets (%)	- -	15.9	0.07	- -	32.59	25.06	38.69	41.8	33.09	20.26	16.03	4.5	4.83	3.36	2.16
Net Debt to Equity	-44.11	28.33	-4.36	-19.96	73.97	47.44	131.38	109.14	48.13	16.12	8.7	-6.93	-25.97	-31.73	-40.91
Net Debt/Capital (%)	255.1	212.3	-172.38	-170.4	63.12	49.18	76.35	67.83	39.86	18.55	10.34	-10.36	-57.97	-86.8	-162.72
EBITDA	2	4	5	6	5	6	6	13	14	17	19	16	3	7	3
EBITDA-CapEx	2	4	5	6	5	6	6	13	14	17	19	16	3	7	3
Operating Income (Loss)	2	3	5	6	5	5	4	10	11	13	15	12	-1	4	- -

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	0.85	0.07	0.06	0.36	0.07	0.07	0.12	0.07	0.16	0.35	0.25	0.36	1.06	1.35	1.73
Current Ratio	2.76	1.61	2.16	2.63	1.75	1.85	1.72	2.27	1.93	1.87	2.01	2.72	2.84	3.22	3.26
Quick Ratio	2.62	1.52	2.03	2.48	1.68	1.79	1.65	2.2	1.85	1.81	1.86	2.52	2.56	2.88	2.99
CFO/Avg Current Liab	0.07	0.12	0.38	0.44	0.32	0.19	0.21	-0.02	0.87	1.03	0.21	0.54	0.81	0.36	0.53
Common Equity/Total Assets	17.68	-6.29	3.82	20.33	17.75	23.73	11.21	19.16	31.89	37.97	44.69	54.82	49.94	50.19	50.58
Long-Term Debt/Equity (%)	- -	- -	- -	- -	67.95	42.35	125.77	99.57	51.86	25.53	16.67	2.67	4.72	2.84	1.27
Long-Term Debt/Capital (%)	- -	- -	- -	- -	55.44	42.01	69.41	60.47	40.78	25.58	17.91	3.55	6.67	4.16	1.93
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	27.91	20.5	34.63	36.86	26.5	14.9	10.88	2.11	3.65	2.23	1.02
Total Debt/Equity (%)	- -	37.9	0.13	- -	79.34	51.79	140.51	112.92	64.77	34.74	24.57	5.7	6.24	4.29	2.71
Total Debt/Capital (%)	- -	165.4	1.81	- -	64.74	51.37	77.54	68.57	50.92	34.8	26.4	7.58	8.81	6.28	4.1
Total Debt/Total Assets (%)	- -	15.9	0.07	- -	32.59	25.06	38.69	41.8	33.09	20.26	16.03	4.5	4.83	3.36	2.16
CFO/Total Liabilities	6.97	10.46	42.3	45.33	13.35	11.27	4.68	-0.81	36.3	49.94	13.16	55.15	67.18	29.9	49.42
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	6.74	7.75	12.6	11.4	8.1	8.17	5.62	6.73	8.21	9.16	8.91	10.05	7.32	8.99	6.44

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	8.71	8.53	9.91	10.62	9.12	7.7	7.25	6.84	7.55	8.75	7.9	7.15	7.16	8.57	8.6
Days Sales Outstanding	41.92	42.81	36.83	34.38	40.01	47.43	50.34	53.35	48.33	41.73	46.19	51.05	50.97	42.57	42.43
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	25.82	34.29	43.28	52.39	53.49	50.63	33.26	29.41	35.71	43.1	43.1	37.98	32.86	30.69	34.01
Accounts Payable Turnover Days	14.14	10.64	8.43	6.97	6.82	7.21	10.97	12.41	10.22	8.47	8.47	9.61	11.11	11.89	10.73
Cash Conversion Cycle	27.79	32.17	28.39	27.41	33.19	40.22	39.37	40.94	38.1	33.26	37.72	41.44	39.86	30.67	31.7
Inventory to Cash Days	41.92	42.81	36.83	34.38	40.01	47.43	50.34	53.35	48.33	41.73	46.19	51.05	50.97	42.57	42.43
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	14	16	59	46	32	30	50	69	122	180	195	128	98	174	82
- Cash & Cash Equivalents	6	1	- -	3	1	1	2	1	3	8	7	7	21	28	37
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	3	- -	- -	13	10	38	39	30	21	18	5	5	4	2
Enterprise Value	8	18	58	43	43	39	86	106	149	193	207	125	82	150	48
Total Capital	3	2	1	4	19	19	49	56	59	59	69	65	58	60	59
Total Debt/Capital (%)	- -	165.4	1.81	- -	64.74	51.37	77.54	68.57	50.92	34.8	26.4	7.58	8.81	6.28	4.1
Total Debt / EV	- -	0.14	- -	- -	0.29	0.25	0.45	0.36	0.2	0.11	0.09	0.04	0.06	0.03	0.05
EV/Sales	0.1	0.2	0.54	0.38	0.35	0.3	0.58	0.6	0.77	0.99	0.93	0.52	0.41	0.75	0.25
EV/EBITDA	3.35	5.22	10.65	7.56	8.12	7.05	14.21	7.89	10.39	11.33	11.06	7.65	27.46	20.56	14.4
EV/EBIT	3.55	5.46	10.96	7.75	9.27	8.65	20.97	10.32	13.65	14.37	14.05	10.28	- -	39.53	47,882.06
EV/Cash Flow to Firm	16.74	18.47	18.14	13.31	14.34	17	25.57	- -	9.27	9.07	39.66	9.94	5.12	20.84	4.3
EV/Free Cash Flow to Firm	16.74	18.47	18.14	13.31	14.34	17	25.57	- -	9.27	9.07	39.66	9.94	5.12	20.84	4.3
Diluted Market Cap	14	17	61	47	32	31	50	70	124	190	205	133	98	179	83
Diluted Enterprise Value	8	19	60	45	44	40	86	108	151	203	217	131	82	155	49
EV per Share	0.86	2.26	6.95	5.01	5	4.43	8.62	9.72	13.52	17.05	18.09	10.82	7.05	12.84	4.08
TTM Sales	80	91	107	114	123	132	148	177	194	194	222	242	201	199	191
TTM EBITDA	2	4	5	6	5	6	6	13	14	17	19	16	3	7	3
TTM Operating Income	2	3	5	6	5	5	4	10	11	13	15	12	-1	4	- -
TTM Cash Flow to Firm	- -	1	3	3	3	2	3	- -	16	21	5	13	16	7	11
TTM Free Cash Flow to Firm	- -	1	3	3	3	2	3	- -	16	21	5	13	16	7	11

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	29.8	17.02	18.92	14.56	10.72	13.32	15.03	-149.29	7.73	8.95	39.29	10.54	6.13	24.89	7.49
EV/EBIT	3.55	5.46	10.96	7.75	9.27	8.65	20.97	10.32	13.65	14.37	14.05	10.28	- -	39.53	47,882.06
Enterprise Value	8	18	58	43	43	39	86	106	149	193	207	125	82	150	48
Low Price	0.91	1.11	1.85	4.03	2.65	3.12	2.91	4.7	4.51	7.25	14	10.77	7.5	7.15	6.2
EV/Sales	0.1	0.2	0.54	0.38	0.35	0.3	0.58	0.6	0.77	0.99	0.93	0.52	0.41	0.75	0.25
EV/EBITDA	3.35	5.22	10.65	7.56	8.12	7.05	14.21	7.89	10.39	11.33	11.06	7.65	27.46	20.56	14.4
Price/Earnings	12.24	7.7	15.42	13.4	11.52	11.87	30.7	10.31	10.95	18.21	15.97	14.64	- -	51.11	134.64
Price/Earnings Average	12.6	7.97	9.23	16.8	13.69	12.59	25.72	12.08	6.4	19.9	15.92	21.56	-16.8	33.04	165.5
Price/Earnings High	17.2	12.95	22.02	22.44	18.12	14.56	42.94	18.8	11.36	34.33	19.28	29.04	-23.03	54.88	303.61
Price/Earnings Low	7.45	4.23	4.08	10.17	8.35	10.9	17.74	7.7	4.46	8.3	13.1	14.33	-12.2	24.52	119.59
Price/Book Value	3.89	-15.95	90.11	11.26	4.64	3.2	4.52	3.89	4.23	4.63	3.83	2.14	1.86	3.11	1.45
Price/Book Value Average	4.01	-16.52	53.94	14.11	5.52	3.39	3.79	4.56	2.47	5.06	3.82	3.15	2.28	2.01	1.78
Price/Book Value High	5.47	-26.85	128.71	18.85	7.31	3.92	6.32	7.09	4.38	8.74	4.62	4.24	3.13	3.34	3.27
Price/Book Value Low	2.37	-8.78	23.86	8.55	3.37	2.94	2.61	2.9	1.72	2.11	3.14	2.09	1.66	1.49	1.29
Price/Tangible Book Value	1.08	2.55	6.2	3.57	-42.28	8.98	-1.46	-4.74	984.61	35.25	8.43	3.38	2.37	3.48	1.51
Price/Tangible Book Value Average	1.11	2.64	3.71	4.47	-50.25	9.52	-1.22	-5.55	575.3	38.53	8.4	4.98	2.91	2.25	1.85
Price/Tangible Book Value High	1.52	4.29	8.86	5.97	-66.52	11.01	-2.04	-8.64	1,021.34	66.47	10.17	6.71	3.99	3.74	3.4
Price/Tangible Book Value Low	0.66	1.4	1.64	2.71	-30.66	8.24	-0.84	-3.54	401.14	16.07	6.91	3.31	2.11	1.67	1.34
Price/Sales	0.17	0.18	0.55	0.4	0.26	0.23	0.34	0.39	0.63	0.92	0.88	0.53	0.49	0.87	0.43
Price/Sales Average	0.17	0.19	0.33	0.51	0.31	0.24	0.28	0.46	0.37	1.01	0.88	0.78	0.6	0.57	0.53
Price/Sales High	0.24	0.31	0.78	0.68	0.4	0.28	0.47	0.71	0.65	1.74	1.06	1.04	0.82	0.94	0.97
Price/Sales Low	0.1	0.1	0.15	0.31	0.19	0.21	0.2	0.29	0.26	0.42	0.72	0.52	0.43	0.42	0.38
Price/Cash Flow	28.98	16.51	18.27	14.1	10.48	13.05	14.91	-146.46	7.59	8.46	37.43	10.11	6.13	24.18	7.36
Price/Cash Flow Average	29.84	17.1	10.93	17.67	12.45	13.84	12.5	-171.68	4.44	9.24	37.3	14.89	7.51	15.63	9.05
Price/Cash Flow High	40.72	27.79	26.1	23.61	16.48	16	20.86	-267.12	7.87	15.95	45.16	20.05	10.29	25.96	16.61
Price/Cash Flow Low	17.64	9.08	4.84	10.71	7.6	11.98	8.62	-109.38	3.09	3.86	30.69	9.89	5.45	11.6	6.54
Price/Free Cash Flow Average	30.69	17.63	11.32	18.24	12.75	14.12	12.59	-174.98	4.52	9.78	39.17	15.52	7.51	16.09	9.21
Price/Free Cash Flow High	41.88	28.65	27.02	24.37	16.87	16.33	21.02	-272.27	8.02	16.87	47.42	20.9	10.29	26.73	16.89
Price/Free Cash Flow Low	18.14	9.36	5.01	11.05	7.78	12.22	8.68	-111.49	3.15	4.08	32.23	10.31	5.45	11.94	6.65
EV/Sales Average	0.1	0.21	0.32	0.48	0.4	0.31	0.52	0.67	0.51	1.08	0.93	0.77	0.52	0.44	0.35
EV/Sales High	0.17	0.33	0.78	0.65	0.5	0.35	0.71	0.92	0.79	1.81	1.11	1.04	0.74	0.82	0.79
EV/Sales Low	0.03	0.12	0.14	0.28	0.28	0.28	0.44	0.5	0.4	0.49	0.77	0.51	0.35	0.3	0.2
EV/EBITDA Average	3.53	5.38	6.34	9.59	9.24	7.38	12.87	8.77	6.85	12.31	11.02	11.33	34.86	12.13	20.05
EV/EBITDA High	5.71	8.4	15.24	12.96	11.53	8.28	17.52	12.1	10.71	20.69	13.22	15.3	49.78	22.32	45.35
EV/EBITDA Low	1.08	3.12	2.76	5.63	6.49	6.61	10.71	6.59	5.35	5.58	9.18	7.48	23.84	8.15	11.64
EV/EBIT Average	3.73	5.64	6.53	9.83	10.55	9.05	18.99	11.47	9.01	15.61	14	15.22	-118.72	23.33	66,678.67
EV/EBIT High	6.03	8.8	15.68	13.29	13.15	10.15	25.85	15.84	14.07	26.23	16.79	20.56	-169.52	42.92	150,785.78
EV/EBIT Low	1.14	3.27	2.84	5.78	7.41	8.1	15.81	8.63	7.03	7.08	11.66	10.05	-81.18	15.68	38,719.4
Last Price	1.49	2.02	7	5.31	3.66	3.4	5.03	6.3	11.07	15.9	17.07	11.01	8.43	14.9	6.98
High Price	2.1	3.4	9.99	8.89	5.75	4.18	7.04	11.49	11.48	29.98	20.6	21.83	14.16	16	15.74
Enterprise Value Average	8	19	35	55	49	41	77	118	98	209	206	186	104	88	67
Enterprise Value High	13	30	83	74	62	46	105	163	154	352	247	251	148	163	151
Enterprise Value Low	3	11	15	32	35	37	65	89	77	95	172	123	71	59	39

	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	9	8	8	9	9	9	11	11	11	11	11	12	12	12	12
Diluted Weighted Avg Shares	9	8	9	9	9	9	10	11	11	12	12	12	12	12	12
Basic Weighted Avg Shares	9	8	8	9	9	9	10	11	11	11	11	12	12	12	12
Revenue per Share	8.81	11.14	12.75	13.14	14.23	15.02	14.9	16.18	17.55	17.19	19.41	20.9	17.32	17.05	16.29
EBITDA per Share	0.26	0.43	0.65	0.66	0.62	0.63	0.61	1.23	1.3	1.5	1.64	1.41	0.26	0.62	0.28
Operating Income per Share	0.24	0.41	0.63	0.65	0.54	0.51	0.41	0.94	0.99	1.19	1.29	1.05	-0.08	0.32	- -
Basic EPS, GAAP	0.12	0.26	0.45	0.4	0.32	0.29	0.16	0.61	1.01	0.87	1.07	0.75	-0.61	0.29	0.05
Basic EPS from Cont Ops	0.15	0.25	0.39	0.4	0.32	0.29	0.16	0.61	1.01	0.87	1.07	0.75	-0.61	0.29	0.05
Diluted EPS, GAAP	0.12	0.25	0.44	0.38	0.31	0.28	0.16	0.6	0.99	0.83	1.02	0.72	-0.61	0.28	0.05
Diluted EPS from Cont Ops	0.14	0.24	0.38	0.38	0.31	0.28	0.16	0.6	0.99	0.83	1.02	0.72	-0.61	0.28	0.05
Dividend per Share	- -	0.82	0.25	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	0.05	0.12	0.38	0.38	0.35	0.26	0.34	-0.04	1.46	1.88	0.46	1.09	1.38	0.62	0.95
Free Cash Flow per Basic Share	0.05	0.12	0.38	0.38	0.35	0.26	0.34	-0.04	1.46	1.88	0.46	1.09	1.38	0.62	0.95
Cash & Equivalents per Share	0.63	0.08	0.05	0.3	0.1	0.09	0.25	0.12	0.27	0.68	0.58	0.61	1.82	2.38	3.11
Book Value per Share	0.38	-0.13	0.08	0.47	0.79	1.06	1.11	1.62	2.62	3.43	4.46	5.15	4.52	4.79	4.82
Tangible Book Value per Share	1.38	0.79	1.13	1.49	-0.09	0.38	-3.44	-1.33	0.01	0.45	2.03	3.26	3.55	4.28	4.63

Mastech Digital, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)