National Bank Holdings Corporation Financial Ratios — NBHC

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
As of date	12/31/2011	12/31/2012	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 (%)	161.28	-1.2	16.44	22.51	12.17	48.47	24.86	72.8	59.07	45.63	36.42	22.93	37.14	25.2	20.25
Return on Assets (%)	0.73	-0.01	0.13	0.19	0.1	0.5	0.31	1.17	1.39	1.41	1.35	0.85	1.46	1.2	1.11
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 (%)	3.77	5.11	7.53	7.3	8.08	7.65	6.95	4.3	5.17	4.39	4.65	5	5.68	6.03	6.83
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	37.25	1.68	5.17	5.66	4.13	14.01	19.33	27.47	33.06	33.27	39.33	26.22	41.8	36.18	32.47
Profit Margin (%)	22.52	-0.23	3.3	4.21	2.54	12.42	7.86	22.91	27.62	26.94	32.02	21.69	33.81	29.6	26.62
Net Income to Common Margin (%)	22.52	-0.23	3.3	4.21	2.54	12.42	7.86	22.91	27.62	26.94	32.02	21.69	33.81	29.6	26.62
Effective Tax Rate (%)	39.54	113.45	36.32	25.65	38.41	11.33	59.35	16.6	16.46	19.02	18.58	17.3	19.11	18.2	18
Dvd Payout Ratio (%)	- -	-481.77	146.37	92.71	137.49	27.75	64.48	27.05	29.28	28.01	28.72	42.72	27.91	36.14	42.03
Sustainable Growth Rate (%)	161.28	-6.96	-7.62	1.64	-4.56	35.02	8.83	53.11	41.77	32.85	25.96	13.14	26.78	16.09	11.74

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
As of date	12/31/2011	12/31/2012	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	- -	- -	- -	40	40	39	129	302	208	- -	39	439	394	105	55
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	- -	- -	- -	40	40	39	129	302	208	- -	39	439	394	105	55
Total Debt/EBITDA	- -	- -	- -	2.51	2.58	2.72	10.02	26.18	13.81	- -	2.91	26.68	16.53	4.32	1.94
Net Debt/EBITDA	-215.65	-62.53	-11.97	-13.62	-8.13	-8.03	-9.95	16.67	6.48	-41.91	-59.35	14.8	8.53	-0.96	-12.9
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	0.74	0.81	0.82	0.85	0.84	1.22	1.27	1.89	2.79	3.36	4.03	3.46	4.36	5.19	5.8
Long-Term Debt/Equity (%)	- -	- -	- -	5.03	6.48	7.21	24.25	43.4	27.08	- -	4.7	40.18	32.5	8.01	3.94
Long-Term Debt/Capital (%)	- -	- -	- -	49.36	50.52	40.86	67.8	73.73	55.79	- -	11.97	56.99	47.62	17.02	8.69
Long-Term Debt/Total Assets (%)	- -	- -	- -	0.83	0.85	0.85	2.67	5.31	3.52	- -	0.55	4.58	3.96	1.07	0.55
Total Debt/Equity (%)	- -	- -	- -	5.03	6.48	7.21	24.25	43.4	27.08	- -	4.7	40.18	32.5	8.01	3.94
Total Debt/Capital (%)	- -	- -	- -	49.36	50.52	40.86	67.8	73.73	55.79	- -	11.97	56.99	47.62	17.02	8.69
Total Debt/Total Assets (%)	- -	- -	- -	0.83	0.85	0.85	2.67	5.31	3.52	- -	0.55	4.58	3.96	1.07	0.55
Net Debt to Equity	-139.21	-70.53	-21.1	-27.31	-20.42	-21.27	-24.09	27.64	12.71	-73.79	-95.97	22.28	16.77	-1.79	-26.17
Net Debt/Capital (%)	103.2	106.04	127.17	123.33	145.09	196.33	191.59	64.12	37.2	158.58	156.3	42.36	31.93	-4.8	-172.25
EBITDA	7	12	16	16	16	14	13	12	15	14	14	16	24	24	28
EBITDA-CapEx	-15	-29	9	16	10	14	7	5	4	10	14	4	-13	-10	-2
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

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
As of date	12/31/2011	12/31/2012	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	0.74	0.81	0.82	0.85	0.84	1.22	1.27	1.89	2.79	3.36	4.03	3.46	4.36	5.19	5.8
Long-Term Debt/Equity (%)	- -	- -	- -	5.03	6.48	7.21	24.25	43.4	27.08	- -	4.7	40.18	32.5	8.01	3.94
Long-Term Debt/Capital (%)	- -	- -	- -	49.36	50.52	40.86	67.8	73.73	55.79	- -	11.97	56.99	47.62	17.02	8.69
Long-Term Debt/Total Assets (%)	- -	- -	- -	0.83	0.85	0.85	2.67	5.31	3.52	- -	0.55	4.58	3.96	1.07	0.55
Total Debt/Equity (%)	- -	- -	- -	5.03	6.48	7.21	24.25	43.4	27.08	- -	4.7	40.18	32.5	8.01	3.94
Total Debt/Capital (%)	- -	- -	- -	49.36	50.52	40.86	67.8	73.73	55.79	- -	11.97	56.99	47.62	17.02	8.69
Total Debt/Total Assets (%)	- -	- -	- -	0.83	0.85	0.85	2.67	5.31	3.52	- -	0.55	4.58	3.96	1.07	0.55
CFO/Total Liabilities	-0.36	-3.03	-0.64	-0.07	-0.93	-0.1	1.35	1.48	0.86	-0.11	2.82	2.53	1.91	1.83	1.91
CFO/CapEx	-0.88	-3.19	-3.76	- -	-7.41	- -	10.35	11.72	3.95	-1.43	- -	17.27	4.53	4.49	5.43
Altman's Z-Score	0.04	0.19	0.21	0.17	0.15	0.18	0.18	0.19	0.22	0.2	0.23	0.18	0.2	0.23	0.23

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
As of date	12/31/2011	12/31/2012	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	23.26	16.76	17.5	19.12	18.92	17.37	13.84	15.98	30.13	- -	- -	- -	- -	- -	- -
Days Sales Outstanding	15.69	21.78	20.86	19.09	19.29	21.02	26.38	22.84	12.11	- -	- -	- -	- -	- -	- -
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)

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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
As of date	12/31/2011	12/31/2012	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	- -	993	1,014	766	654	839	876	954	1,102	1,009	1,353	1,363	1,413	1,650	1,456
- Cash & Cash Equivalents	1,516	769	189	257	166	153	257	110	110	606	846	196	191	128	417
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	40	40	39	129	302	208	- -	39	439	394	105	55
Enterprise Value	-3,378	-1,494	-961	-931	-629	-160	-108	355	562	-259	-145	900	987	1,099	565
Total Capital	47	44	40	81	79	95	190	409	372	224	330	770	828	614	628
Total Debt/Capital (%)	- -	- -	- -	49.36	50.52	40.86	67.8	73.73	55.79	- -	11.97	56.99	47.62	17.02	8.69
Total Debt / EV	- -	- -	- -	-0.04	-0.06	-0.24	-1.2	0.85	0.37	- -	-0.27	0.49	0.4	0.1	0.1
EV/Sales	- -	- -	- -	- -	- -	- -	- -	1.32	1.93	- -	- -	2.74	2.35	2.74	1.37
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	30.77	37.35	- -	- -	54.72	41.38	45.45	20.11
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	4.82	12.69	- -	- -	4.19	5.91	7.08	3.48
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	4.44	10.13	- -	- -	3.96	4.84	5.79	2.94
Diluted Market Cap	- -	995	1,016	766	658	876	876	972	1,110	1,017	1,366	1,375	1,420	1,661	1,461
Diluted Enterprise Value	-1,516	225	827	549	532	762	748	1,164	1,208	411	560	1,619	1,623	1,638	1,099
EV per Share	- -	- -	- -	- -	- -	- -	- -	11.48	17.94	- -	- -	27.78	25.99	28.69	14.75
TTM Sales	186	240	210	218	192	186	186	268	291	329	292	329	420	401	412
TTM EBITDA	7	12	16	16	16	14	13	12	15	14	14	16	24	24	28
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	-19	-131	-26	-3	-38	-4	58	74	44	-6	180	215	167	155	162
TTM Free Cash Flow to Firm	3	-90	-19	-3	-33	-4	64	80	55	-2	180	227	204	190	192

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
As of date	12/31/2011	12/31/2012	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	- -	-11.08	-54.13	-277.9	-20.22	-222.6	13.74	12.17	20.03	-546.58	7.61	6.06	6.97	8.75	7.6
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-3,378	-1,494	-961	-931	-629	-160	-108	355	562	-259	-145	900	987	1,099	565
Low Price	- -	17.9	17.69	18.11	17.69	18.41	30.1	29.26	30.42	20.25	32.14	36.04	26.48	32.13	32.83
EV/Sales	- -	- -	- -	- -	- -	- -	- -	1.32	1.93	- -	- -	2.74	2.35	2.74	1.37
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	30.77	37.35	- -	- -	54.72	41.38	45.45	20.11
Price/Earnings	- -	- -	146.37	83.43	134.08	36.36	60.08	15.52	13.72	11.38	14.45	19.12	9.94	13.89	13.29
Price/Earnings Average	- -	-1,827.98	133.07	84.68	126.15	25.41	60.42	18.12	13.6	10.06	12.93	18.94	9.1	12.69	13.5
Price/Earnings High	- -	-1,950.29	149.65	92.32	147.76	36.81	68.69	20.83	15.16	12.91	15.3	22.73	11.9	16.7	15.71
Price/Earnings Low	- -	-1,723.96	120.99	77.84	110.99	20.99	55.76	14.71	11.85	7.04	10.57	16.38	7.08	10.36	11.48
Price/Book Value	- -	22.68	25.05	18.65	16.7	14.98	14.29	8.87	6.7	4.51	4.66	4.11	3.26	3.24	2.54
Price/Book Value Average	- -	22.66	22.77	18.93	15.71	10.47	14.37	10.36	6.64	3.98	4.17	4.07	2.98	2.96	2.58
Price/Book Value High	- -	24.18	25.61	20.64	18.41	15.17	16.33	11.91	7.4	5.11	4.93	4.89	3.9	3.89	3
Price/Book Value Low	- -	21.37	20.71	17.4	13.83	8.65	13.26	8.41	5.78	2.79	3.41	3.52	2.32	2.42	2.2
Price/Tangible Book Value	- -	0.99	1.24	1.07	1.2	1.79	1.86	1.68	1.72	1.47	1.9	1.81	1.68	1.75	1.41
Price/Tangible Book Value Average	- -	0.99	1.13	1.08	1.13	1.25	1.87	1.97	1.71	1.3	1.7	1.79	1.54	1.6	1.43
Price/Tangible Book Value High	- -	1.06	1.27	1.18	1.32	1.81	2.13	2.26	1.9	1.66	2.01	2.15	2.01	2.11	1.67
Price/Tangible Book Value Low	- -	0.93	1.03	0.99	0.99	1.03	1.73	1.6	1.49	0.91	1.39	1.55	1.2	1.31	1.22
Price/Sales	- -	4.13	4.82	3.51	3.41	4.52	4.72	3.56	3.79	3.07	4.63	4.15	3.36	4.11	3.54
Price/Sales Average	- -	4.13	4.39	3.56	3.21	3.16	4.75	4.15	3.76	2.71	4.14	4.11	3.08	3.75	3.59
Price/Sales High	- -	4.4	4.93	3.88	3.76	4.57	5.4	4.77	4.19	3.48	4.9	4.93	4.02	4.94	4.18
Price/Sales Low	- -	3.89	3.99	3.27	2.82	2.61	4.38	3.37	3.27	1.9	3.39	3.55	2.39	3.07	3.06
Price/Cash Flow	- -	-7.59	-39.64	-277.87	-17.39	-213.04	15.06	12.96	24.92	-162.35	7.54	6.35	8.46	10.63	8.97
Price/Cash Flow Average	- -	-7.59	-36.04	-282.03	-16.36	-148.87	15.15	15.14	24.71	-143.41	6.74	6.29	7.75	9.71	9.1
Price/Cash Flow High	- -	-8.09	-40.53	-307.5	-19.17	-215.65	17.23	17.4	27.53	-184.1	7.98	7.55	10.12	12.78	10.6
Price/Cash Flow Low	- -	-7.15	-32.77	-259.26	-14.4	-122.99	13.98	12.28	21.52	-100.35	5.51	5.44	6.02	7.93	7.74
Price/Free Cash Flow Average	- -	-11.07	-49.21	-282.06	-19.02	-155.55	13.82	14.22	19.86	-482.8	6.81	6	6.38	7.99	7.72
Price/Free Cash Flow High	- -	-11.82	-55.34	-307.54	-22.28	-225.32	15.71	16.34	22.13	-619.82	8.06	7.2	8.34	10.52	8.98
Price/Free Cash Flow Low	- -	-10.44	-44.74	-259.29	-16.74	-128.51	12.75	11.54	17.3	-337.86	5.57	5.19	4.96	6.53	6.56
EV/Sales Average	- -	0.93	3.48	2.57	2.55	2.54	4.06	4.87	4.09	0.87	1.38	4.85	3.56	3.7	2.71
EV/Sales High	- -	1.21	4.03	2.89	3.1	3.96	4.71	5.49	4.52	1.64	2.14	5.67	4.51	4.88	3.3
EV/Sales Low	- -	0.69	3.09	2.28	2.17	1.99	3.69	4.09	3.61	0.05	0.63	4.29	2.88	3.01	2.18
EV/EBITDA Average	-215.65	18.16	46.25	35.15	31.59	33.22	58.4	113.32	79.18	19.74	29.74	96.86	62.74	61.34	39.72
EV/EBITDA High	-215.65	23.56	53.51	39.56	38.39	51.73	67.75	127.77	87.49	37.24	46.1	113.28	79.38	81.04	48.35
EV/EBITDA Low	-215.65	13.57	40.97	31.22	26.81	26.05	53.12	95.11	69.8	1.23	13.5	85.78	50.69	49.94	31.86
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	- -	18.99	21.4	19.41	21.37	31.89	32.43	30.87	35.22	32.76	43.94	42.07	37.19	43.06	38.01
High Price	- -	20.25	21.88	21.48	23.55	32.28	37.08	41.44	38.92	37.15	46.52	50	44.5	51.76	44.93
Enterprise Value Average	-1,516	223	732	560	490	472	753	1,306	1,191	285	404	1,593	1,497	1,484	1,116
Enterprise Value High	-1,516	290	847	630	595	735	873	1,472	1,316	538	626	1,863	1,894	1,960	1,359
Enterprise Value Low	-1,516	167	649	497	416	370	685	1,096	1,050	18	183	1,411	1,209	1,208	895

Shares Outstanding	52	52	45	39	30	26	27	31	31	31	30	38	38	38	38
Diluted Weighted Avg Shares	52	52	47	39	31	27	27	31	32	31	31	33	38	39	38
Basic Weighted Avg Shares	52	52	47	39	31	26	27	31	31	31	31	32	38	38	38
Revenue per Share	3.58	4.6	4.44	5.53	6.26	7.06	6.87	8.68	9.3	10.68	9.49	10.14	11.06	10.47	10.74
EBITDA per Share	0.14	0.24	0.33	0.4	0.51	0.54	0.48	0.37	0.48	0.47	0.44	0.51	0.63	0.63	0.73
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	0.81	-0.01	0.15	0.23	0.16	0.88	0.54	1.99	2.57	2.88	3.04	2.2	3.74	3.1	2.86
Basic EPS from Cont Ops	0.81	-0.01	0.15	0.23	0.16	0.88	0.54	1.99	2.57	2.88	3.04	2.2	3.74	3.1	2.86
Diluted EPS, GAAP	0.81	-0.01	0.15	0.23	0.16	0.84	0.54	1.95	2.55	2.85	3.01	2.18	3.72	3.08	2.85
Diluted EPS from Cont Ops	0.81	-0.01	0.15	0.23	0.16	0.84	0.54	1.95	2.55	2.85	3.01	2.18	3.72	3.08	2.85
Dividend per Share	- -	0.05	0.21	0.22	0.22	0.24	0.35	0.54	0.75	0.81	0.87	0.94	1.04	1.12	1.2
Cash Flow per Share	-0.37	-2.5	-0.54	-0.07	-1.23	-0.15	2.15	2.38	1.41	-0.2	5.83	6.63	4.4	4.05	4.24
Free Cash Flow per Basic Share	-0.79	-3.29	-0.68	-0.07	-1.39	-0.15	1.94	2.18	1.06	-0.34	5.83	6.24	3.43	3.15	3.46
Cash & Equivalents per Share	64.99	47.56	41.69	44.02	43.21	39.44	41.2	29.16	23.91	41.17	49.93	27.84	21.58	17.1	24.68
Book Value per Share	0.9	0.84	0.85	1.04	1.28	2.13	2.27	3.48	5.26	7.27	9.43	10.22	11.42	13.29	14.96
Tangible Book Value per Share	19.17	19.19	17.22	18.21	17.81	17.86	17.45	18.34	20.46	22.34	23.15	23.25	22.14	24.54	26.9

National Bank Holdings Corporation

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)