Paul Mueller Company Financial Ratios — MUEL Stock

Profitability (USD)

	1993 Y	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
Return on Common Equity (%)	6.52	10.2	5.76	12.41	7.95	8.29	5.03	9.62	-3.54	5.61	6.15	-32.28	29.01	26.19	28.36
Return on Assets (%)	4.15	6.53	3.67	8.16	5.29	5.56	3.43	6.91	-2.46	3.07	2.97	-13.8	11.79	9.49	9.32
Return on Capital (%)	5.75	10.2	5.52	11.91	7.95	8.29	5.03	9.62	- -	5.24	5.7	- -	22.45	- -	24.05
Return on Invested Capital (%)	4.56	7.72	3.02	9.8	6.76	6.87	5.96	8.99	- -	4.62	5.72	- -	26.67	- -	38.06
Gross Margin (%)	28.18	29.18	25.38	28.93	25.61	26.98	26.24	22.24	17.2	19.9	20.2	11.22	20.38	17.95	16.71
EBITDA Margin (%)	7.05	8.68	5.23	10	6.81	7.25	6.48	4.3	-2.74	5.14	5.36	-2.77	7.2	5.44	7.99
Operating Margin (%)	3.25	5.28	2.04	6.9	4.15	4.24	3.35	4.29	-2.86	2.13	1.9	-5.91	4.96	3.47	6.23
Incremental Operating Margin (%)	50	31.58	236.36	75	-81.48	6.67	-24.14	11.26	- -	25.84	-8.37	- -	53.64	-10.49	11.01
Pretax Margin (%)	3.79	6.42	3.44	7.74	4.5	4.79	2.7	4.55	-2.35	2.5	3.15	-5.56	5.17	3.85	6.07
Profit Margin (%)	2.98	4.4	2.55	5.24	3.34	3.46	2.05	3.66	-1.44	1.65	1.73	-7.62	4.79	4.59	3.77
Net Income to Common Margin (%)	2.98	4.4	2.55	5.24	3.34	3.46	2.05	3.66	-1.44	1.65	1.73	-7.62	4.79	4.59	3.77
Effective Tax Rate (%)	21.43	31.37	25.93	32.31	25.64	27.91	24	21.24	- -	33.92	18.07	- -	7.28	- -	37.65
Dvd Payout Ratio (%)	104.55	65.71	115	56.82	96.55	90.32	147.37	73.23	-207.95	150.4	141.65	-33.27	42.9	40.12	31.56
Sustainable Growth Rate (%)	-0.3	3.5	-0.86	5.36	0.27	0.8	-2.38	2.57	-10.89	-2.83	-2.56	-43.02	16.56	15.68	19.41

Credit (USD)

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	1993 Y	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
Total Debt	- -	- -	3	- -	- -	- -	- -	- -	- -	5	1	8	- -	- -	1
ST Debt	- -	- -	3	- -	- -	- -	- -	- -	- -	5	1	8	- -	- -	1
LT Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBITDA	- -	- -	0.73	- -	- -	- -	- -	- -	- -	0.8	0.09	-2.61	0.01	0.02	0.06
Net Debt/EBITDA	-2.77	-0.28	0.12	-0.26	-0.58	-0.22	-0.12	-0.15	0.74	0.68	-0.37	-1.33	-0.38	-0.77	-0.02
Total Debt/EBIT	- -	- -	1.88	- -	- -	- -	- -	- -	- -	1.93	0.26	-1.22	0.02	0.03	0.07
Net Debt/EBIT	-6	-0.45	0.31	-0.38	-0.94	-0.37	-0.23	-0.15	0.71	1.64	-1.05	-0.62	-0.55	-1.2	-0.02
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	557.93	788.62	267.79
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	448.35	224.16	121.41
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	383.94	501.99	208.64
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	63.71	64.27	63.07	68.42	64.78	69.33	67.09	76.71	62.4	48.62	47.87	36.65	44.77	31.17	34.43
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/Equity (%)	- -	- -	7.98	- -	- -	- -	- -	- -	- -	16.2	1.94	48.01	0.64	0.72	3.96
Total Debt/Capital (%)	- -	- -	8	- -	- -	- -	- -	- -	- -	12.39	1.72	28.06	0.46	0.43	2.61
Total Debt/Total Assets (%)	- -	- -	5.48	- -	- -	- -	- -	- -	- -	6.88	0.84	14.3	0.25	0.16	1.06
Net Debt to Equity	-39.13	-5.01	1.33	-5.57	-8.56	-3.5	-1.79	-1.66	-5.34	13.78	-7.93	24.45	-17.69	-31.03	-1.2
Net Debt/Capital (%)	-74.61	-5.76	1.43	-6.43	-10.24	-3.8	-1.91	-1.59	-5.96	10.74	-7.72	16.57	-14.55	-23.02	-0.82
EBITDA	5	7	4	8	6	6	6	5	-3	6	6	-3	10	8	19
EBITDA-CapEx	3	5	2	6	-2	2	4	1	-7	1	3	-4	8	2	9
Operating Income (Loss)	2	4	2	6	4	4	3	5	-3	2	2	-7	7	5	15

Liquidity (USD)

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	1993 Y	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
Cash Ratio	1.22	0.16	0.16	0.18	0.22	0.1	0.2	0.09	0.11	0.02	0.09	0.13	0.14	0.12	0.02
Current Ratio	3.15	3.27	2.48	3.08	2.3	2.39	2.2	2.26	1.74	1.47	1.34	1.19	1.28	1.19	1.22
Quick Ratio	2.36	2.44	0.97	1.4	1.23	1.24	1.43	1.4	1.13	0.94	0.7	0.81	0.95	0.68	0.8
CFO/Avg Current Liab	0.49	0.3	0.37	0.68	0.39	0.17	0.2	0.31	0.51	0.05	0.41	0.19	0.2	0.27	0.11
Common Equity/Total Assets	63.71	64.27	63.07	68.42	64.78	69.33	67.09	76.71	62.4	48.62	47.87	36.65	44.77	31.17	34.43
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/Equity (%)	- -	- -	7.98	- -	- -	- -	- -	- -	- -	16.2	1.94	48.01	0.64	0.72	3.96
Total Debt/Capital (%)	- -	- -	8	- -	- -	- -	- -	- -	- -	12.39	1.72	28.06	0.46	0.43	2.61
Total Debt/Total Assets (%)	- -	- -	5.48	- -	- -	- -	- -	- -	- -	6.88	0.84	14.3	0.25	0.16	1.06
CFO/Total Liabilities	36.65	21.95	30.41	70.8	32.74	16.56	17.47	29.05	43.04	2.66	32.23	14.37	17.42	15.27	8.12
CFO/CapEx	2.81	2.25	2.26	4.62	0.71	0.52	1.16	1.29	1.65	0.22	4.46	4.5	3.01	1.85	0.58
Altman's Z-Score	4.52	4.56	4.37	5.39	4.69	5.07	4.39	3.75	3.76	3.22	3.4	2.72	4.26	2.76	3.46

Working Capital (USD)

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	1993 Y	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
Accounts Receivable Turnover	- -	- -	- -	- -	- -	- -	9.85	5.58	5.21	5.67	5.82	6.17	6.66	5.73	6.38
Days Sales Outstanding	- -	- -	- -	- -	- -	- -	37.05	65.43	70.09	64.4	62.68	59.16	54.85	63.65	57.22
Inventory Turnover	5.99	6.15	5.68	6.94	9.21	7.16	6.38	7.08	7.24	8.35	6.29	7.28	13.51	9.03	10.11
Days Inventory Outstanding	60.95	59.32	64.26	52.58	39.61	50.99	57.18	51.53	50.39	43.7	58.03	50.11	27.02	40.44	36.11
Accounts Payable Turnover	18.31	23.18	28.05	25.35	20.15	18.32	20.94	20.37	16.54	16.29	17.34	16.95	17.61	15.56	15.67
Accounts Payable Turnover Days	19.93	15.74	13.01	14.4	18.11	19.92	17.43	17.92	22.06	22.41	21.05	21.54	20.73	23.46	23.3
Cash Conversion Cycle	41.01	43.58	51.25	38.18	21.5	31.07	76.8	99.03	98.42	85.69	99.66	87.74	61.14	80.63	70.03
Inventory to Cash Days	-60.95	-59.32	-64.26	-52.58	-39.61	-50.99	-20.13	13.9	19.7	20.7	4.65	9.04	27.83	23.21	21.11
Inventories	9	9	11	6	8	10	11	12	10	12	17	10	6	22	18
Raw Materials	- -	- -	- -	- -	- -	- -	- -	8	6	8	9	- -	4	13	11
Work In Process	- -	- -	- -	- -	- -	- -	- -	3	2	3	6	- -	1	7	5
Finished Goods	- -	- -	- -	- -	- -	- -	- -	1	1	1	2	- -	1	2	2
Other Inventory	9	9	11	6	8	10	11	- -	- -	- -	- -	10	- -	- -	- -

Enterprise Value (USD)

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	1993 Y	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
Market Capitalization	41	37	41	44	45	47	34	31	34	35	47	35	33	44	- -
- Cash & Cash Equivalents	14	2	2	2	3	1	1	1	2	1	3	4	4	7	1
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	5	5	5
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	3	- -	- -	- -	- -	- -	- -	5	1	8	- -	- -	1
Enterprise Value	26	35	42	41	41	45	31	30	32	39	45	39	35	43	5
Total Capital	34	35	38	36	37	38	37	43	34	38	33	29	30	34	42
Total Debt/Capital (%)	- -	- -	8	- -	- -	- -	- -	- -	- -	12.39	1.72	28.06	0.46	0.43	2.61
Total Debt / EV	- -	- -	0.07	- -	- -	- -	- -	- -	- -	0.12	0.01	0.21	- -	- -	0.21
EV/Sales	0.35	0.44	0.53	0.49	0.48	0.51	0.34	0.29	0.34	0.35	0.38	0.35	0.25	0.28	0.02
EV/EBITDA	5.02	5.03	10.13	4.92	7.03	6.97	5.22	6.63	- -	6.72	7.16	- -	3.48	5.18	0.27
EV/EBIT	10.89	8.27	25.95	7.13	11.52	11.92	10.1	6.65	- -	16.19	20.19	- -	5.05	8.14	0.34
EV/Cash Flow to Firm	4.43	9.65	7.98	4.26	7.54	18.12	10.79	6.64	3.97	37.75	3.62	6.83	5.87	3.9	0.84
EV/Free Cash Flow to Firm	3.27	6.68	5.54	3.5	3.12	6.21	5.8	3.74	2.47	6.8	2.96	5.59	4.41	2.53	0.31
Diluted Market Cap	41	37	41	44	45	47	35	31	34	36	48	35	33	45	- -
Diluted Enterprise Value	26	35	42	41	41	46	35	31	32	40	45	39	35	44	5
EV per Share	22.56	29.87	34.67	35.61	36.05	39.17	26.35	25.68	27.36	33.77	38.37	33.67	29.68	37.45	- -
TTM Sales	74	80	78	84	87	90	93	105	94	114	117	113	138	153	241
TTM EBITDA	5	7	4	8	6	6	6	5	-3	6	6	-3	10	8	19
TTM Operating Income	2	4	2	6	4	4	3	5	-3	2	2	-7	7	5	15
TTM Cash Flow to Firm	6	4	5	10	6	2	3	5	8	1	12	6	6	11	6
TTM Free Cash Flow to Firm	8	5	8	12	13	7	5	8	13	6	15	7	8	17	17

Multiples (USD)

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	1993 Y	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
Price/Free Cash Flow	5.07	7.04	5.47	3.69	3.37	6.45	6.52	3.89	2.62	6.14	3.15	5	4.27	2.63	- -
EV/EBIT	10.89	8.27	25.95	7.13	11.52	11.92	10.1	6.65	- -	16.19	20.19	- -	5.05	8.14	0.34
Enterprise Value	26	35	42	41	41	45	31	30	32	39	45	39	35	43	5
Low Price	30.5	28.5	27	29.75	34.25	36.25	28.63	21	25.25	25.17	29.45	26.15	21.5	27.5	36.05
EV/Sales	0.35	0.44	0.53	0.49	0.48	0.51	0.34	0.29	0.34	0.35	0.38	0.35	0.25	0.28	0.02
EV/EBITDA	5.02	5.03	10.13	4.92	7.03	6.97	5.22	6.63	- -	6.72	7.16	- -	3.48	5.18	0.27
Price/Earnings	18.42	10.47	20.51	9.89	15.48	15.07	18.05	8.13	- -	18.77	23.33	- -	5.02	6.31	- -
Price/Earnings Average	17.24	10.83	18.64	8.87	15.69	14.71	21.12	8.13	-24.89	18.53	21.77	-4.6	5.1	5.89	- -
Price/Earnings High	19.74	11.71	22.6	11.35	19.64	16.32	25.24	9.42	-30.17	20.52	26.01	-5.71	6.12	7.05	- -
Price/Earnings Low	16.05	9.47	16.17	7.85	13.59	13.53	17.89	6.38	-21.77	15.56	17.02	-3.55	3.79	4.51	- -
Price/Book Value	1.2	1.05	1.19	1.2	1.23	1.22	0.92	0.73	1	1.07	1.45	1.68	1.34	1.53	- -
Price/Book Value Average	1.13	1.09	1.08	1.07	1.24	1.19	1.08	0.73	0.99	1.05	1.36	1.89	1.37	1.43	- -
Price/Book Value High	1.29	1.17	1.31	1.37	1.56	1.32	1.29	0.85	1.2	1.17	1.62	2.35	1.64	1.71	- -
Price/Book Value Low	1.05	0.95	0.94	0.95	1.08	1.1	0.91	0.57	0.87	0.88	1.06	1.46	1.01	1.09	- -
Price/Tangible Book Value	1.1	0.97	1.09	1.1	1.13	1.17	0.88	0.78	0.95	1.22	1.61	2.07	2.04	2.88	- -
Price/Tangible Book Value Average	1.03	1	0.99	0.99	1.15	1.14	1.03	0.78	0.94	1.21	1.5	2.33	2.07	2.69	- -
Price/Tangible Book Value High	1.18	1.08	1.2	1.26	1.43	1.27	1.23	0.9	1.14	1.34	1.8	2.89	2.49	3.22	- -
Price/Tangible Book Value Low	0.96	0.87	0.86	0.87	0.99	1.05	0.87	0.61	0.82	1.01	1.18	1.8	1.54	2.06	- -
Price/Sales	0.55	0.46	0.52	0.52	0.52	0.52	0.37	0.3	0.36	0.31	0.4	0.31	0.24	0.29	- -
Price/Sales Average	0.51	0.48	0.48	0.46	0.52	0.51	0.43	0.3	0.36	0.31	0.38	0.35	0.24	0.27	- -
Price/Sales High	0.59	0.52	0.58	0.59	0.66	0.56	0.52	0.34	0.44	0.34	0.45	0.43	0.29	0.32	- -
Price/Sales Low	0.48	0.42	0.41	0.41	0.45	0.47	0.37	0.23	0.31	0.26	0.29	0.27	0.18	0.21	- -
Price/Cash Flow	6.87	10.17	7.89	4.49	8.16	18.68	11.83	6.91	4.2	33.92	3.81	6.11	5.65	4.02	- -
Price/Cash Flow Average	6.43	10.53	7.17	4.02	8.27	18.23	13.84	6.91	4.19	33.5	3.55	6.87	5.74	3.75	- -
Price/Cash Flow High	7.36	11.39	8.69	5.15	10.36	20.24	16.53	8.01	5.07	37.09	4.24	8.52	6.89	4.49	- -
Price/Cash Flow Low	5.99	9.21	6.22	3.56	7.17	16.77	11.72	5.43	3.66	28.13	2.78	5.31	4.27	2.87	- -
Price/Free Cash Flow Average	4.74	7.29	4.97	3.31	3.42	6.3	7.63	3.89	2.61	6.07	2.93	5.62	4.33	2.46	- -
Price/Free Cash Flow High	5.43	7.88	6.03	4.23	4.28	6.99	9.12	4.51	3.16	6.71	3.51	6.97	5.2	2.94	- -
Price/Free Cash Flow Low	4.41	6.37	4.31	2.93	2.96	5.79	6.47	3.06	2.28	5.09	2.3	4.34	3.22	1.88	- -
EV/Sales Average	0.32	0.45	0.48	0.44	0.49	0.49	0.43	0.29	0.34	0.34	0.36	0.39	0.25	0.26	0.02
EV/Sales High	0.39	0.49	0.58	0.57	0.62	0.55	0.51	0.34	0.41	0.37	0.43	0.47	0.3	0.32	0.02
EV/Sales Low	0.28	0.39	0.42	0.38	0.42	0.45	0.36	0.23	0.29	0.29	0.27	0.31	0.19	0.2	0.02
EV/EBITDA Average	4.52	5.22	9.22	4.39	7.13	6.8	6.57	6.76	-12.34	6.65	6.66	-13.99	3.53	4.82	0.27
EV/EBITDA High	5.58	5.66	11.15	5.68	9.08	7.57	7.88	7.86	-15.11	7.29	8.03	-17.04	4.21	5.8	0.27
EV/EBITDA Low	4.02	4.53	8.01	3.85	6.1	6.24	5.55	5.28	-10.7	5.69	5.12	-11.11	2.66	3.66	0.27
EV/EBIT Average	9.8	8.57	23.62	6.35	11.69	11.63	12.72	6.77	-11.84	16.01	18.77	-6.55	5.13	7.57	0.34
EV/EBIT High	12.09	9.31	28.57	8.23	14.88	12.95	15.24	7.88	-14.51	17.54	22.63	-7.98	6.12	9.11	0.34
EV/EBIT Low	8.71	7.44	20.52	5.58	10	10.67	10.74	5.29	-10.27	13.7	14.45	-5.2	3.86	5.75	0.34
Last Price	35	31.5	34.25	37.5	39	40.38	28.88	26.75	29	30.35	40.36	30.11	28.5	38.5	54
High Price	37.5	35.25	37.75	43	49.5	43.75	40.38	31	35	33.18	45	41.99	34.75	43	75.7
Enterprise Value Average	24	36	38	37	42	44	39	31	32	39	42	44	35	40	5
Enterprise Value High	29	39	46	48	54	49	47	36	39	43	50	53	42	48	5
Enterprise Value Low	21	31	33	32	36	41	33	24	28	33	32	35	26	30	5

	1993 Y	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
Shares Outstanding	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Diluted Weighted Avg Shares	1	1	1	1	1	1	1	1	1	1	1	1	1	1	- -
Basic Weighted Avg Shares	1	1	1	1	1	1	1	1	1	1	1	1	1	1	- -
Revenue per Share	63.74	68.37	65.46	72.35	75.34	77.55	77.98	89.94	80.43	97.73	100.05	96.59	118.53	132.81	- -
EBITDA per Share	4.49	5.93	3.42	7.24	5.13	5.62	5.05	3.87	-2.21	5.02	5.36	-2.67	8.54	7.23	- -
Operating Income per Share	2.07	3.61	1.34	5	3.13	3.29	2.61	3.86	-2.3	2.09	1.9	-5.71	5.87	4.6	- -
Basic EPS, GAAP	1.9	3.01	1.67	3.79	2.52	2.68	1.6	3.29	-1.16	1.62	1.73	-7.36	5.68	6.1	- -
Basic EPS from Cont Ops	1.9	3.01	1.67	3.79	2.52	2.68	1.6	3.29	-1.16	1.62	1.73	-7.36	5.68	6.1	- -
Diluted EPS, GAAP	1.9	3.01	1.67	3.79	2.52	2.66	1.56	3.29	-1.16	1.61	1.71	-7.36	5.64	6.04	- -
Diluted EPS from Cont Ops	1.9	3.01	1.67	3.79	2.52	2.66	1.56	3.29	-1.16	1.61	1.71	-7.36	5.64	6.04	- -
Dividend per Share	1.99	1.98	1.92	2.15	2.43	2.42	2.36	2.41	2.41	2.43	2.45	2.45	2.44	2.45	- -
Cash Flow per Share	5.1	3.1	4.34	8.36	4.78	2.16	2.44	3.87	6.9	0.89	10.61	4.93	5.04	9.59	- -
Free Cash Flow per Basic Share	3.28	1.72	2.42	6.55	-2	-1.99	0.34	0.87	2.72	-3.18	8.23	3.83	3.36	4.41	- -
Cash & Equivalents per Share	12.44	1.63	2.09	1.89	2.95	1.21	2.53	1.07	1.64	0.6	2.47	3.43	3.37	5.67	- -
Book Value per Share	29.1	30.01	28.81	31.35	31.8	33.02	31.41	36.53	29.15	28.44	27.75	17.9	21.19	25.13	- -
Tangible Book Value per Share	31.78	32.59	31.4	34.02	34.5	34.58	32.84	34.3	30.68	24.84	25.06	14.54	13.97	13.37	- -

Paul Mueller Company

Profitability (USD)

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Enterprise Value (USD)

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Per Share Data Items (USD)