Midland States Bancorp, Inc. Financial Ratios — MSBIP Stock

Profitability (USD)

	2009 Y	2010 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	12/31/2009	12/31/2010	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 (%)	- -	15.53	34.34	8.64	29.41	30.97	14.05	31.59	37.04	13.97	44.05	39.19	19.77	11.8	-79.53
Return on Assets (%)	- -	0.88	1.78	0.81	0.87	1.03	0.42	0.78	0.95	0.35	1.14	1.31	0.78	0.5	-1.77
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	5.67	11.57	7.17	7.66	6.65	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	40.11	26.31	31.18	26.63	29.8	36.38	7.19	6.39	7.27	7.22	5.77	3.78	3.74	3.69	4.12
Operating Margin (%)	38.37	21.53	24.65	19.19	21.99	28.75	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	-203.87	65.18	189.76	24.79	107.17	-430.37	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	38.37	21.53	24.65	19.19	21.94	28.76	14.15	20.21	27.12	11.85	35.01	34.53	25.85	13.16	-39.56
Profit Margin (%)	25.49	15.61	17.42	13.42	15.07	17.99	8.58	15.68	20.87	8.34	28.72	26.34	17.98	10.68	-42.8
Net Income to Common Margin (%)	22.3	10.87	11.75	3.99	15.07	17.99	8.54	15.62	20.8	8.34	28.72	25.51	15.36	8.18	-45.87
Effective Tax Rate (%)	33.58	27.49	29.34	30.07	31.32	37.46	39.34	22.41	23.03	29.6	17.95	23.71	30.48	18.88	- -
Dvd Payout Ratio (%)	3.27	18.6	29.1	5.13	31.52	31.25	88.33	51.34	42.45	110.74	30.96	26.71	50.87	92.93	-20.78
Sustainable Growth Rate (%)	- -	12.64	24.35	8.2	20.14	21.29	1.64	15.37	21.32	-1.5	30.41	28.73	9.71	0.83	-96.06

Credit (USD)

API ChatGPT

	2009 Y	2010 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	12/31/2009	12/31/2010	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	101	144	- -	82	102	292	590	735	685	961	449	602	604	423	380
ST Debt	90	128	- -	10	- -	- -	9	33	- -	- -	- -	142	201	87	60
LT Debt	11	16	- -	72	102	292	581	702	685	961	449	460	404	336	320
Total Debt/EBITDA	3.52	7.09	- -	3.81	2.12	4.58	43.9	45.71	35.26	49.24	27.48	41.88	47.51	32.17	31.81
Net Debt/EBITDA	0.61	4.29	- -	-3.65	-2.29	1.61	27.94	32.59	14.26	31.35	-13.72	31.21	36.96	23.5	21.16
Total Debt/EBIT	3.67	8.67	- -	5.28	2.87	5.79	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	0.64	5.24	- -	-5.07	-3.1	2.03	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	4.6	3.49	- -	2.78	3.16	3.48	2.6	2.38	2.73	2.28	2.86	3.6	3.16	3.3	1.34
Long-Term Debt/Equity (%)	15.42	15.3	- -	32.61	43.78	90.76	129.29	115.32	103.51	154.61	67.65	60.61	56.43	47.23	56.59
Long-Term Debt/Capital (%)	6.41	6.55	- -	45.8	52.8	72.15	82.11	80.53	80.48	85.99	67.86	46.2	42	42.95	55.39
Long-Term Debt/Total Assets (%)	1.01	1	- -	2.68	3.54	9.03	13.17	12.45	11.26	13.99	6.03	5.85	5.18	4.47	4.91
Total Debt/Equity (%)	138.43	135.45	- -	37.16	43.78	90.76	131.29	120.72	103.51	154.61	67.65	79.37	84.52	59.54	67.23
Total Debt/Capital (%)	57.56	58.03	- -	52.19	52.8	72.15	83.38	84.3	80.48	85.99	67.86	60.5	62.91	54.14	65.8
Total Debt/Total Assets (%)	9.11	8.83	- -	3.05	3.54	9.03	13.38	13.03	11.26	13.99	6.03	7.66	7.76	5.64	5.84
Net Debt to Equity	24.03	81.88	- -	-35.65	-47.25	31.85	83.58	86.08	41.86	98.44	-33.77	59.16	65.75	43.5	44.73
Net Debt/Capital (%)	19.06	45.53	- -	2,464.79	587.79	47.62	76.15	79.29	60.42	78.4	1,947.42	53.3	56.88	46.31	56.14
EBITDA	29	20	26	21	48	64	13	16	19	20	16	14	13	13	12
EBITDA-CapEx	27	10	22	19	42	62	7	9	14	17	14	11	4	6	7
Operating Income (Loss)	28	17	21	15	35	50	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

API ChatGPT

	2009 Y	2010 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	12/31/2009	12/31/2010	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	4.6	3.49	- -	2.78	3.16	3.48	2.6	2.38	2.73	2.28	2.86	3.6	3.16	3.3	1.34
Long-Term Debt/Equity (%)	15.42	15.3	- -	32.61	43.78	90.76	129.29	115.32	103.51	154.61	67.65	60.61	56.43	47.23	56.59
Long-Term Debt/Capital (%)	6.41	6.55	- -	45.8	52.8	72.15	82.11	80.53	80.48	85.99	67.86	46.2	42	42.95	55.39
Long-Term Debt/Total Assets (%)	1.01	1	- -	2.68	3.54	9.03	13.17	12.45	11.26	13.99	6.03	5.85	5.18	4.47	4.91
Total Debt/Equity (%)	138.43	135.45	- -	37.16	43.78	90.76	131.29	120.72	103.51	154.61	67.65	79.37	84.52	59.54	67.23
Total Debt/Capital (%)	57.56	58.03	- -	52.19	52.8	72.15	83.38	84.3	80.48	85.99	67.86	60.5	62.91	54.14	65.8
Total Debt/Total Assets (%)	9.11	8.83	- -	3.05	3.54	9.03	13.38	13.03	11.26	13.99	6.03	7.66	7.76	5.64	5.84
CFO/Total Liabilities	0.87	1.17	- -	0.88	2.76	0.83	1.78	1.93	9.93	7.99	4.93	4.03	2.17	2.6	2.11
CFO/CapEx	6.48	1.68	8.63	7.36	11.99	11.07	11.4	13.49	97.26	192.8	123.05	82.37	17.56	25.58	23.51
Altman's Z-Score	0.21	0.13	- -	0.09	0.15	0.16	0.08	0.08	0.09	0.07	0.08	0.1	0.09	0.1	0.06

Working Capital (USD)

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	2009 Y	2010 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	12/31/2009	12/31/2010	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	- -	10.81	19.61	18.66	19.76	22.06	18.78	17.78	16.24	13.55	13.16	19.13	12.5	11.98	11.81
Days Sales Outstanding	- -	33.77	18.62	19.57	18.47	16.55	19.43	20.52	22.47	26.94	27.73	19.08	29.21	30.46	30.89
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 ChatGPT

	2009 Y	2010 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	12/31/2009	12/31/2010	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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Cash & Cash Equivalents	84	57	- -	160	212	190	215	211	393	337	673	153	134	114	127
+ Preferred Equity and Hybrid Capital	24	47	- -	- -	- -	- -	3	3	- -	- -	- -	111	111	111	111
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	101	144	- -	82	102	292	590	735	685	961	449	602	604	423	380
Enterprise Value	41	135	- -	-331	-346	-144	-72	-131	-357	-53	-1,131	-209	-335	-788	-928
Total Capital	176	249	- -	157	193	405	708	871	851	1,117	662	995	961	782	578
Total Debt/Capital (%)	57.56	58.03	- -	52.19	52.8	72.15	83.38	84.3	80.48	85.99	67.86	60.5	62.91	54.14	65.8
Total Debt / EV	2.46	1.07	- -	-0.25	-0.29	-2.03	-8.22	-5.61	-1.92	-18.11	-0.4	-2.88	-1.8	-0.54	-0.41
EV/Sales	0.57	1.74	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	1.43	6.62	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	1.49	8.09	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	4.57	7.52	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	3.96	4.71	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Enterprise Value	41	135	- -	-78	-110	103	379	527	292	624	-224	559	581	420	363
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Sales	72	77	83	81	161	175	187	251	267	270	283	380	340	356	290
TTM EBITDA	29	20	26	21	48	64	13	16	19	20	16	14	13	13	12
TTM Operating Income	28	17	21	15	35	50	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	9	18	31	21	73	24	70	97	539	499	334	286	153	177	126
TTM Free Cash Flow to Firm	10	29	35	24	79	26	77	104	544	502	337	289	162	183	131

Multiples (USD)

API ChatGPT

	2009 Y	2010 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	12/31/2009	12/31/2010	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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	1.49	8.09	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	41	135	- -	-331	-346	-144	-72	-131	-357	-53	-1,131	-209	-335	-788	-928
Low Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	24.45	18.25	23.85	22.03
EV/Sales	0.57	1.74	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	1.43	6.62	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales Average	0.57	1.74	- -	- -	- -	0.58	2.02	2.09	1.09	2.31	- -	1.47	1.71	1.18	1.25
EV/Sales High	0.57	1.74	- -	- -	- -	0.58	2.02	2.09	1.09	2.31	- -	1.47	1.71	1.18	1.25
EV/Sales Low	0.57	1.74	- -	- -	- -	0.58	2.02	2.09	1.09	2.31	- -	1.47	1.71	1.18	1.25
EV/EBITDA Average	1.43	6.62	- -	-3.61	-2.28	1.61	28.16	32.77	15.05	31.97	-13.72	38.9	45.65	31.9	30.41
EV/EBITDA High	1.43	6.62	- -	-3.61	-2.28	1.61	28.16	32.77	15.05	31.97	-13.72	38.9	45.65	31.9	30.41
EV/EBITDA Low	1.43	6.62	- -	-3.61	-2.28	1.61	28.16	32.77	15.05	31.97	-13.72	38.9	45.65	31.9	30.41
EV/EBIT Average	1.49	8.09	- -	-5.02	-3.09	2.03	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	1.49	8.09	- -	-5.02	-3.09	2.03	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	1.49	8.09	- -	-5.02	-3.09	2.03	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	25.97	24.3	25.6	25.02
High Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	26.75	27.1	26.55	25.41
Enterprise Value Average	41	135	- -	-78	-110	103	379	527	292	624	-224	559	581	420	363
Enterprise Value High	41	135	- -	-78	-110	103	379	527	292	624	-224	559	581	420	363
Enterprise Value Low	41	135	- -	-78	-110	103	379	527	292	624	-224	559	581	420	363

Shares Outstanding	15	15	- -	15	15	15	19	24	24	22	22	22	22	21	21
Diluted Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Revenue per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow per Basic Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash & Equivalents per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Tangible Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Midland States Bancorp, Inc.

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