MidWestOne Financial Group, Inc. Financial Ratios — MOFG

Profitability (USD)

	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	2024 Y
Return on Common Equity (%)	15.3	18.19	20.56	20.01	17.31	20.14	14.34	12.09	17.75	21.86	3.14	29.9	21.5	6.76	-21.89
Return on Assets (%)	0.65	0.81	0.95	1.05	1.04	1.05	0.67	0.59	0.93	1.1	0.13	1.2	0.97	0.32	-0.95
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 (%)	9.05	8.35	7.87	7.51	3.88	5.89	6.84	6.67	7.04	1.57	2.38	0.79	4.75	7.73	11.11
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	21.32	28.13	31.57	36.76	36.42	29.6	22.15	22.98	29.55	28.7	6.95	45.02	35.81	15.27	-121.21
Profit Margin (%)	15.96	20.9	24	27.09	26.4	22.57	16.57	14.78	23.62	24.95	3.46	34.96	28.44	12.83	-87.01
Net Income to Common Margin (%)	14.59	19.88	24	27.09	26.4	22.57	16.57	14.78	23.62	24.95	3.46	34.96	28.44	12.83	-87.01
Effective Tax Rate (%)	25.15	25.72	23.97	26.32	27.52	23.74	25.17	35.69	20.06	13.09	50.29	22.34	20.58	16	- -
Dvd Payout Ratio (%)	17.86	13.89	18.47	22.89	26.28	25.26	35.88	43.11	31.42	26.3	214.03	20.55	24.44	72.95	-27.38
Sustainable Growth Rate (%)	12.57	15.66	16.77	15.43	12.76	15.05	9.2	6.88	12.17	16.11	-3.58	23.76	16.25	1.83	-27.89

Credit (USD)

API Chat

	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	2024 Y
Total Debt	143	155	136	122	108	133	156	151	226	254	265	155	375	133	113
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	57	22	56	- -	236	10	- -
LT Debt	143	155	136	122	108	133	156	151	169	232	209	155	139	123	113
Total Debt/EBITDA	24.85	29.21	25.01	23.7	39.86	20.3	18.55	17.94	24.94	92.24	58.22	98.9	36.87	10.62	14.73
Net Debt/EBITDA	21.4	23.08	16.44	18.88	31.26	13.14	13.42	11.98	19.77	65.16	39.87	-31.87	28.29	4.07	-11.94
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	4.07	4.42	4.79	5.71	6.32	4.55	4.83	5	5.51	4.68	3.69	4.31	4.65	4.84	3.84
Long-Term Debt/Equity (%)	90.03	99.35	77.95	68.74	56.28	44.93	51.13	44.46	47.25	45.51	40.5	29.36	28.25	23.51	20.26
Long-Term Debt/Capital (%)	64.05	67.46	61.24	54.99	48.8	49.53	51.23	48.52	41.45	49.14	44.41	37.34	20.45	27.72	32.14
Long-Term Debt/Total Assets (%)	9.02	9.17	7.56	6.97	6.02	4.47	5.07	4.71	5.13	4.98	3.76	2.57	2.12	1.92	1.82
Total Debt/Equity (%)	90.03	99.35	77.95	68.74	56.28	44.93	51.13	44.46	63.19	49.86	51.47	29.36	76.04	25.46	20.26
Total Debt/Capital (%)	64.05	67.46	61.24	54.99	48.8	49.53	51.23	48.52	55.43	53.83	56.43	37.34	55.06	30.01	32.14
Total Debt/Total Assets (%)	9.02	9.17	7.56	6.97	6.02	4.47	5.07	4.71	6.85	5.45	4.77	2.57	5.7	2.08	1.82
Net Debt to Equity	77.54	78.5	51.25	54.76	44.13	29.09	36.98	29.68	50.08	35.22	35.25	-9.46	58.34	9.76	-16.42
Net Debt/Capital (%)	60.54	62.1	50.95	49.32	42.77	38.85	43.17	38.62	49.45	45.02	46.87	-23.65	48.39	14.09	-62.17
EBITDA	6	5	5	5	3	7	8	8	9	3	5	2	10	13	8
EBITDA-CapEx	2	3	2	1	-10	-8	3	3	3	1	2	- -	7	9	5
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

API Chat

	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	2024 Y
Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	4.07	4.42	4.79	5.71	6.32	4.55	4.83	5	5.51	4.68	3.69	4.31	4.65	4.84	3.84
Long-Term Debt/Equity (%)	90.03	99.35	77.95	68.74	56.28	44.93	51.13	44.46	47.25	45.51	40.5	29.36	28.25	23.51	20.26
Long-Term Debt/Capital (%)	64.05	67.46	61.24	54.99	48.8	49.53	51.23	48.52	41.45	49.14	44.41	37.34	20.45	27.72	32.14
Long-Term Debt/Total Assets (%)	9.02	9.17	7.56	6.97	6.02	4.47	5.07	4.71	5.13	4.98	3.76	2.57	2.12	1.92	1.82
Total Debt/Equity (%)	90.03	99.35	77.95	68.74	56.28	44.93	51.13	44.46	63.19	49.86	51.47	29.36	76.04	25.46	20.26
Total Debt/Capital (%)	64.05	67.46	61.24	54.99	48.8	49.53	51.23	48.52	55.43	53.83	56.43	37.34	55.06	30.01	32.14
Total Debt/Total Assets (%)	9.02	9.17	7.56	6.97	6.02	4.47	5.07	4.71	6.85	5.45	4.77	2.57	5.7	2.08	1.82
CFO/Total Liabilities	1.44	1.54	1.39	1.79	1.45	1.22	1.38	1.43	1.46	1.14	0.18	2.03	1.48	1.06	1.11
CFO/CapEx	6.13	8.63	6.41	6.25	1.89	2.2	6.78	8.23	7.51	21.64	4.3	55.39	33.92	15.43	26.28
Altman's Z-Score	0.13	0.13	0.15	0.18	0.19	0.15	0.18	0.17	0.16	0.17	0.12	0.14	0.14	0.13	0.11

Working Capital (USD)

API Chat

	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	2024 Y
Accounts Receivable Turnover	5.72	5.47	5.4	5.43	5.58	7.79	7.93	7.68	7.91	10.52	9.52	9.5	9.06	5.72	2.46
Days Sales Outstanding	63.77	66.72	67.63	67.23	65.41	46.86	46.03	47.5	46.13	34.71	38.32	38.41	40.28	63.82	148.11
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)

API Chat

	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	2024 Y
Market Capitalization	90	88	124	168	181	240	335	320	247	450	343	460	458	406	496
- Cash & Cash Equivalents	20	33	46	25	23	47	43	50	45	73	82	204	86	82	205
+ Preferred Equity and Hybrid Capital	16	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	143	155	136	122	108	133	156	151	226	254	265	155	375	133	113
Enterprise Value	229	-323	-344	-233	-209	-101	-30	-24	13	-155	-1,132	-1,877	-407	-337	-924
Total Capital	223	230	221	223	222	269	305	312	407	471	470	415	681	445	353
Total Debt/Capital (%)	64.05	67.46	61.24	54.99	48.8	49.53	51.23	48.52	55.43	53.83	56.43	37.34	55.06	30.01	32.14
Total Debt / EV	0.62	-0.48	-0.39	-0.53	-0.52	-1.32	-5.25	-6.34	17.51	-1.63	-0.23	-0.08	-0.92	-0.4	-0.12
EV/Sales	3.6	- -	- -	- -	- -	- -	- -	- -	0.1	- -	- -	- -	- -	- -	- -
EV/EBITDA	39.82	- -	- -	- -	- -	- -	- -	- -	1.42	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	11.16	- -	- -	- -	- -	- -	- -	- -	0.3	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	9.6	- -	- -	- -	- -	- -	- -	- -	0.27	- -	- -	- -	- -	- -	- -
Diluted Market Cap	90	89	125	169	181	241	336	321	247	451	343	461	460	407	496
Diluted Enterprise Value	229	211	214	267	267	327	449	422	427	631	526	412	748	459	404
EV per Share	26.55	- -	- -	- -	- -	- -	- -	- -	1.05	- -	- -	- -	- -	- -	- -
TTM Sales	63	64	69	69	70	111	123	127	128	175	192	199	214	163	69
TTM EBITDA	6	5	5	5	3	7	8	8	9	3	5	2	10	13	8
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	20	24	23	28	23	33	38	41	43	47	9	112	90	63	63
TTM Free Cash Flow to Firm	24	26	26	33	36	48	44	46	48	50	11	114	93	67	66

Multiples (USD)

API Chat

	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	2024 Y
Price/Free Cash Flow	3.79	3.34	4.8	5.16	5.1	5.06	7.66	6.97	5.1	9.1	30.37	4.06	4.94	6.12	7.56
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	229	-323	-344	-233	-209	-101	-30	-24	13	-155	-1,132	-1,877	-407	-337	-924
Low Price	7.7	12.2	14.41	20.8	22.5	27.74	24.71	30.56	23.8	24.63	15.25	23.88	27.17	17.8	19.43
EV/Sales	3.6	- -	- -	- -	- -	- -	- -	- -	0.1	- -	- -	- -	- -	- -	- -
EV/EBITDA	39.82	- -	- -	- -	- -	- -	- -	- -	1.42	- -	- -	- -	- -	- -	- -
Price/Earnings	9.72	6.97	7.53	9.05	9.77	9.56	16.42	17.14	8.13	10.32	51.74	6.62	7.53	19.47	- -
Price/Earnings Average	8.71	6.77	7.25	8.12	8.36	9.36	12.78	17.68	10.43	8.4	46.57	6.06	7.3	16.64	-7.15
Price/Earnings High	15.81	10.5	11.93	13.35	13.21	14.04	21.97	24.83	14.17	13.3	88.62	7.92	9.15	25.68	-9.76
Price/Earnings Low	7.16	8.29	7.4	9.48	10.21	11.44	13.85	19.67	9.58	8.39	37.08	5.46	6.99	13.38	-5.49
Price/Book Value	1.4	1.18	1.45	1.68	1.59	1.77	2.25	2	1.36	2.07	1.67	1.77	1.5	1.3	2.07
Price/Book Value Average	1.25	1.14	1.4	1.51	1.36	1.73	1.75	2.06	1.74	1.68	1.51	1.62	1.45	1.12	1.8
Price/Book Value High	2.28	1.77	2.3	2.48	2.15	2.6	3.01	2.89	2.37	2.67	2.87	2.12	1.82	1.72	2.46
Price/Book Value Low	1.03	1.4	1.42	1.76	1.66	2.12	1.9	2.29	1.6	1.68	1.2	1.46	1.39	0.9	1.38
Price/Tangible Book Value	0.68	0.61	0.76	1.01	0.99	1.14	1.5	1.23	0.88	1.19	0.81	1.05	1.19	0.96	1.1
Price/Tangible Book Value Average	0.61	0.59	0.74	0.91	0.85	1.12	1.16	1.27	1.13	0.97	0.73	0.96	1.15	0.82	0.95
Price/Tangible Book Value High	1.11	0.92	1.21	1.49	1.34	1.68	2	1.78	1.54	1.54	1.39	1.25	1.44	1.26	1.3
Price/Tangible Book Value Low	0.5	0.72	0.75	1.06	1.04	1.37	1.26	1.41	1.04	0.97	0.58	0.86	1.1	0.66	0.73
Price/Sales	1.42	1.39	1.81	2.45	2.58	2.16	2.72	2.53	1.92	2.57	1.79	2.31	2.14	2.5	7.16
Price/Sales Average	1.27	1.35	1.74	2.2	2.21	2.11	2.12	2.61	2.46	2.1	1.61	2.12	2.08	2.14	6.22
Price/Sales High	2.31	2.09	2.86	3.62	3.49	3.17	3.64	3.67	3.35	3.32	3.06	2.77	2.6	3.29	8.49
Price/Sales Low	1.04	1.65	1.77	2.57	2.7	2.58	2.3	2.91	2.26	2.09	1.28	1.91	1.99	1.72	4.78
Price/Cash Flow	4.39	3.72	5.52	5.96	7.78	7.34	8.77	7.8	5.77	9.51	37.41	4.12	5.07	6.49	7.85
Price/Cash Flow Average	3.94	3.61	5.32	5.35	6.66	7.19	6.82	8.05	7.4	7.75	33.67	3.78	4.91	5.55	6.82
Price/Cash Flow High	7.15	5.6	8.75	8.79	10.51	10.78	11.73	11.3	10.06	12.27	64.08	4.93	6.16	8.56	9.31
Price/Cash Flow Low	3.24	4.42	5.43	6.24	8.13	8.79	7.4	8.96	6.8	7.74	26.81	3.4	4.71	4.46	5.24
Price/Free Cash Flow Average	3.4	3.25	4.62	4.64	4.37	4.95	5.96	7.19	6.54	7.41	27.34	3.72	4.79	5.23	6.57
Price/Free Cash Flow High	6.17	5.04	7.61	7.62	6.9	7.43	10.25	10.1	8.89	11.74	52.03	4.85	6.01	8.06	8.97
Price/Free Cash Flow Low	2.79	3.98	4.72	5.41	5.33	6.06	6.46	8	6.01	7.41	21.77	3.34	4.59	4.2	5.05
EV/Sales Average	3.45	3.27	3.03	3.62	3.42	2.89	3.04	3.41	3.87	3.13	2.56	1.87	3.42	2.45	4.9
EV/Sales High	4.49	4.02	4.16	5.04	4.7	3.94	4.56	4.47	4.75	4.35	4.02	2.52	3.95	3.61	7.17
EV/Sales Low	3.23	3.58	3.07	3.99	3.91	3.36	3.21	3.71	3.67	3.13	2.24	1.66	3.34	2.03	3.45
EV/EBITDA Average	38.19	39.19	38.54	48.17	88.17	49.01	44.36	51.18	54.91	198.84	107.82	237.73	72.05	31.73	44.12
EV/EBITDA High	49.64	48.06	52.83	67	121.15	66.96	66.63	67.02	67.47	276.57	168.96	320.04	83.16	46.72	64.58
EV/EBITDA Low	35.69	42.81	38.99	53.04	100.76	57	46.96	55.6	52.07	198.74	94.02	210.85	70.21	26.32	31.1
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	10.45	10.26	14.67	19.86	21.52	23.18	29.29	26.62	20.2	30.27	21.28	28.97	29.28	25.91	29.12
High Price	17	15.45	23.25	29.3	29.1	34.04	39.2	38.56	35.2	39.03	36.45	34.65	35.58	34.16	34.56
Enterprise Value Average	219	209	209	249	240	321	374	432	497	547	491	372	732	399	340
Enterprise Value High	285	256	286	346	330	439	561	565	610	761	770	501	845	587	497
Enterprise Value Low	205	228	211	274	274	374	395	469	471	547	428	330	713	331	239

	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	2024 Y
Shares Outstanding	9	9	8	8	8	11	11	12	12	16	16	16	16	16	21
Diluted Weighted Avg Shares	9	9	9	9	8	10	11	12	12	15	16	16	16	16	17
Basic Weighted Avg Shares	9	9	8	8	8	10	11	12	12	15	16	16	16	16	17
Revenue per Share	7.37	7.4	8.12	8.1	8.35	10.74	10.76	10.51	10.51	11.76	11.9	12.52	13.67	10.37	4.07
EBITDA per Share	0.67	0.62	0.64	0.61	0.32	0.63	0.74	0.7	0.74	0.19	0.28	0.1	0.65	0.8	0.45
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	1.08	1.47	1.95	2.19	2.2	2.42	1.78	1.55	2.48	2.93	0.41	4.38	3.89	1.33	-3.54
Basic EPS from Cont Ops	1.18	1.55	1.95	2.19	2.2	2.42	1.78	1.55	2.48	2.93	0.41	4.38	3.89	1.33	-3.54
Diluted EPS, GAAP	1.07	1.47	1.94	2.18	2.2	2.42	1.78	1.55	2.48	2.93	0.41	4.37	3.87	1.33	-3.54
Diluted EPS from Cont Ops	1.17	1.54	1.94	2.18	2.2	2.42	1.78	1.55	2.48	2.93	0.41	4.37	3.87	1.33	-3.54
Dividend per Share	0.29	0.28	0.36	0.5	0.58	0.61	0.64	0.67	0.78	0.77	0.88	0.9	0.95	0.97	0.97
Cash Flow per Share	2.38	2.76	2.66	3.33	2.77	3.16	3.34	3.41	3.5	3.18	0.57	7.03	5.77	3.99	3.71
Free Cash Flow per Basic Share	1.99	2.44	2.24	2.8	1.3	1.72	2.85	3	3.03	3.03	0.44	6.9	5.6	3.73	3.57
Cash & Equivalents per Share	2.3	65.86	71.18	61.74	59.29	45.76	45.56	41.17	37.61	57.79	108.05	156.95	79.24	55.93	90.04
Book Value per Share	7.47	8.71	10.11	11.81	13.54	13.09	13.01	13.34	14.85	14.64	12.72	16.37	19.55	19.86	14.05
Tangible Book Value per Share	15.28	16.85	19.21	19.69	21.67	20.29	19.57	21.7	22.89	25.41	26.23	27.62	24.7	27.08	26.58

MidWestOne Financial Group, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)