Flagship Communities Real Estate Investment Trust Financial Ratios — MHC.U

Profitability (USD)

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	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 (%)	- -	34.22	- -	25.59	12.55	16.4	20.26	18.15
Return on Assets (%)	- -	16.63	- -	10.52	5.71	7.65	10.29	9.36
Return on Capital (%)	- -	19.29	- -	14.37	8.39	10.59	13.5	12.24
Return on Invested Capital (%)	- -	4.48	- -	4.74	4.81	4.99	5.17	4.99
Gross Margin (%)	- -	57.71	- -	66.54	65.43	65.35	65.65	65.63
EBITDA Margin (%)	- -	49.91	- -	52.56	52.92	53.19	53.6	54.33
Operating Margin (%)	- -	50.94	- -	52.71	52.42	52.63	53.33	54.37
Incremental Operating Margin (%)	- -	- -	- -	- -	51.64	53.64	56.24	60.35
Pretax Margin (%)	- -	187.19	- -	139.31	72.59	91.62	117.46	111.88
Profit Margin (%)	- -	187.19	- -	139.31	72.59	91.62	117.46	111.88
Net Income to Common Margin (%)	- -	187.19	- -	139.31	72.59	91.62	117.46	111.88
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	8.96	- -	12.91	24.68	17.91	13.63	13.52
Sustainable Growth Rate (%)	- -	31.16	- -	22.28	9.45	13.46	17.5	15.7

Credit (USD)

Credit Ratios API ChatGPT

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	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	77	97	220	259	343	363	423	534
ST Debt	- -	1	1	1	11	32	48	2
LT Debt	77	96	219	258	332	332	375	532
Total Debt/EBITDA	- -	12.62	- -	11.44	11.01	9.61	8.95	9.5
Net Debt/EBITDA	- -	12.28	- -	10.76	10.47	9.41	8.8	9.33
Total Debt/EBIT	- -	12.65	- -	11.53	11.11	9.72	9.04	9.59
Net Debt/EBIT	- -	12.31	- -	10.84	10.56	9.51	8.89	9.42
EBITDA to Interest Expense	- -	1.82	- -	2.79	2.8	2.64	2.55	2.69
EBITDA-CapEx/Interest Expense	- -	1.76	- -	2.68	2.67	2.56	2.5	2.64
EBIT to Interest Expense	- -	1.85	- -	2.8	2.78	2.61	2.54	2.69
Interest Expense	- -	4	- -	8	11	14	18	21
Common Equity/Total Assets	45.71	50.68	32.87	46.42	44.76	48.31	52.79	50.61
Long-Term Debt/Equity (%)	115.89	93.98	149.84	80.1	92.76	76.1	63.95	77.2
Long-Term Debt/Capital (%)	53.65	48.13	59.89	44.43	47.38	41.51	37.14	43.5
Long-Term Debt/Total Assets (%)	52.98	47.63	49.25	37.18	41.52	36.77	33.76	39.07
Total Debt/Equity (%)	116	95.25	150.19	80.3	95.76	83.33	72.2	77.48
Total Debt/Capital (%)	53.7	48.78	60.03	44.54	48.92	45.45	41.93	43.66
Total Debt/Total Assets (%)	53.03	48.27	49.36	37.28	42.86	40.26	38.11	39.21
Net Debt to Equity	113.32	92.67	142.34	75.51	91.02	81.54	70.96	76.07
Net Debt/Capital (%)	53.12	48.1	58.74	43.02	47.65	44.91	41.51	43.2
EBITDA	- -	8	- -	23	31	38	47	56
EBITDA-CapEx	- -	7	- -	22	30	37	46	55
Operating Income (Loss)	- -	8	- -	23	31	37	47	56

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	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	0.93	0.77	1.84	1.7	0.81	0.06	0.05	0.07
Current Ratio	2.17	1.6	2.43	2.16	1.1	0.12	0.11	0.14
Quick Ratio	2.12	1.56	1.94	1.78	0.85	0.07	0.06	0.08
CFO/Avg Current Liab	- -	1.21	- -	3.23	2.07	0.51	0.37	0.41
Common Equity/Total Assets	45.71	50.68	32.87	46.42	44.76	48.31	52.79	50.61
Long-Term Debt/Equity (%)	115.89	93.98	149.84	80.1	92.76	76.1	63.95	77.2
Long-Term Debt/Capital (%)	53.65	48.13	59.89	44.43	47.38	41.51	37.14	43.5
Long-Term Debt/Total Assets (%)	52.98	47.63	49.25	37.18	41.52	36.77	33.76	39.07
Total Debt/Equity (%)	116	95.25	150.19	80.3	95.76	83.33	72.2	77.48
Total Debt/Capital (%)	53.7	48.78	60.03	44.54	48.92	45.45	41.93	43.66
Total Debt/Total Assets (%)	53.03	48.27	49.36	37.28	42.86	40.26	38.11	39.21
CFO/Total Liabilities	- -	3.25	- -	6.67	7.03	8.48	10.05	8.57
CFO/CapEx	- -	13.34	- -	27.74	20.4	34.16	48.9	55.47
Altman's Z-Score	- -	- -	- -	0.84	0.76	0.71	0.81	0.89

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	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	- -	64.63	- -	76.37	89.16	100.07	104.42	106.75
Days Sales Outstanding	- -	5.65	- -	4.78	4.09	3.65	3.5	3.42
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)

Enterprise Value API ChatGPT

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	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	- -	- -	107	272	218	245	291	378
- Cash & Cash Equivalents	2	3	11	15	17	8	7	10
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	77	97	220	259	343	363	423	534
Enterprise Value	- -	- -	315	516	543	600	706	902
Total Capital	144	199	366	582	700	799	1,008	1,222
Total Debt/Capital (%)	53.7	48.78	60.03	44.54	48.92	45.45	41.93	43.66
Total Debt / EV	- -	- -	0.7	0.5	0.63	0.61	0.6	0.59
EV/Sales	- -	- -	- -	11.98	9.24	8.45	8.01	8.72
EV/EBITDA	- -	- -	- -	22.78	17.46	15.88	14.95	16.05
EV/EBIT	- -	- -	- -	22.96	17.62	16.05	15.1	16.21
EV/Cash Flow to Firm	- -	- -	- -	15.66	12.89	11.14	9.92	11.49
EV/Free Cash Flow to Firm	- -	- -	- -	16.1	13.38	11.39	10.08	11.64
Diluted Market Cap	- -	- -	142	272	218	245	291	378
Diluted Enterprise Value	- -	- -	351	516	543	600	706	902
EV per Share	- -	- -	43.61	36.48	38.42	38.75	36.4	46.48
TTM Sales	- -	15	- -	43	59	71	88	103
TTM EBITDA	- -	8	- -	23	31	38	47	56
TTM Operating Income	- -	8	- -	23	31	37	47	56
TTM Cash Flow to Firm	- -	7	- -	33	42	54	71	79
TTM Free Cash Flow to Firm	- -	7	- -	32	41	53	70	77

Multiples (USD)

Valuation Multiples API ChatGPT

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	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	- -	- -	- -	11.38	7.37	6.38	5.63	6.68
EV/EBIT	- -	- -	- -	22.96	17.62	16.05	15.1	16.21
Enterprise Value	- -	- -	315	516	543	600	706	902
Low Price	- -	- -	14.01	14.8	13.26	14.17	13.66	14.25
EV/Sales	- -	- -	- -	11.98	9.24	8.45	8.01	8.72
EV/EBITDA	- -	- -	- -	22.78	17.46	15.88	14.95	16.05
Price/Earnings	- -	- -	- -	4.54	5.1	3.76	2.81	3.27
Price/Earnings Average	- -	- -	- -	4.16	5.67	3.82	2.84	2.9
Price/Earnings High	- -	- -	- -	4.95	6.71	4.54	3.21	3.31
Price/Earnings Low	- -	- -	- -	3.49	4.39	3.37	2.56	2.39
Price/Book Value	- -	- -	0.73	0.84	0.61	0.56	0.5	0.55
Price/Book Value Average	- -	- -	0.74	0.77	0.68	0.57	0.5	0.49
Price/Book Value High	- -	- -	0.76	0.92	0.8	0.68	0.57	0.56
Price/Book Value Low	- -	- -	0.69	0.65	0.52	0.5	0.45	0.4
Price/Tangible Book Value	- -	- -	0.73	0.84	0.61	0.56	0.5	0.55
Price/Tangible Book Value Average	- -	- -	0.74	0.77	0.68	0.57	0.5	0.49
Price/Tangible Book Value High	- -	- -	0.76	0.92	0.8	0.68	0.57	0.56
Price/Tangible Book Value Low	- -	- -	0.69	0.65	0.52	0.5	0.45	0.4
Price/Sales	- -	- -	- -	6.32	3.7	3.45	3.3	3.66
Price/Sales Average	- -	- -	- -	5.8	4.12	3.5	3.33	3.24
Price/Sales High	- -	- -	- -	6.89	4.87	4.16	3.77	3.71
Price/Sales Low	- -	- -	- -	4.86	3.19	3.09	3.01	2.67
Price/Cash Flow	- -	- -	- -	10.97	7.01	6.19	5.52	6.56
Price/Cash Flow Average	- -	- -	- -	10.07	7.8	6.29	5.57	5.81
Price/Cash Flow High	- -	- -	- -	11.96	9.23	7.47	6.31	6.65
Price/Cash Flow Low	- -	- -	- -	8.43	6.04	5.55	5.03	4.8
Price/Free Cash Flow Average	- -	- -	- -	10.44	8.21	6.48	5.69	5.92
Price/Free Cash Flow High	- -	- -	- -	12.41	9.71	7.69	6.45	6.77
Price/Free Cash Flow Low	- -	- -	- -	8.75	6.35	5.72	5.14	4.89
EV/Sales Average	- -	- -	- -	11.46	9.66	8.51	8.05	8.31
EV/Sales High	- -	- -	- -	12.55	10.41	9.16	8.49	8.77
EV/Sales Low	- -	- -	- -	10.52	8.73	8.09	7.72	7.74
EV/EBITDA Average	- -	- -	- -	21.8	18.25	15.99	15.01	15.29
EV/EBITDA High	- -	- -	- -	23.88	19.67	17.22	15.84	16.15
EV/EBITDA Low	- -	- -	- -	20	16.49	15.22	14.41	14.25
EV/EBIT Average	- -	- -	- -	21.97	18.42	16.17	15.17	15.43
EV/EBIT High	- -	- -	- -	24.06	19.86	17.4	16	16.3
EV/EBIT Low	- -	- -	- -	20.16	16.65	15.38	14.56	14.38
Last Price	- -	- -	14.78	19.25	15.39	15.8	14.98	19.48
High Price	- -	- -	15.37	21	20.26	19.06	17.14	19.75
Enterprise Value Average	- -	- -	316	494	568	605	709	859
Enterprise Value High	- -	- -	319	541	612	651	748	907
Enterprise Value Low	- -	- -	310	453	513	575	681	800

Per Share Data Items (USD)

Per-Share Data API ChatGPT

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Shares Outstanding	6	6	7	14	14	15	19	19
Diluted Weighted Avg Shares	6	6	10	14	14	15	19	19
Basic Weighted Avg Shares	6	6	6	14	14	15	19	19
Revenue per Share	- -	2.47	- -	3.05	4.16	4.59	4.54	5.33
EBITDA per Share	- -	1.23	- -	1.6	2.2	2.44	2.43	2.9
Operating Income per Share	- -	1.26	- -	1.61	2.18	2.41	2.42	2.9
Basic EPS, GAAP	- -	4.62	- -	4.24	3.02	4.2	5.34	5.96
Basic EPS from Cont Ops	- -	4.62	- -	4.24	3.02	4.2	5.34	5.96
Diluted EPS, GAAP	- -	4.62	- -	4.24	3.02	4.2	5.34	5.96
Diluted EPS from Cont Ops	- -	4.62	- -	4.24	3.02	4.2	5.34	5.96
Dividend per Share	- -	0.41	- -	0.55	0.74	0.75	0.73	0.81
Cash Flow per Share	- -	0.52	- -	1.76	2.19	2.55	2.71	2.97
Free Cash Flow per Basic Share	- -	0.48	- -	1.69	2.09	2.48	2.66	2.92
Cash & Equivalents per Share	0.29	0.42	1.59	1.09	1.2	0.5	0.37	0.5
Book Value per Share	10.69	16.34	20.26	22.82	25.3	28.15	30.18	35.5
Tangible Book Value per Share	10.69	16.34	20.26	22.82	25.3	28.15	30.18	35.5