Northrim BanCorp, Inc. Financial Ratios — NRIM Stock

Profitability (USD)

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	16.9	14.45	18.16	16.36	12.06	10.3	- -	27.72	13.77	19.58	19.25	13.97	10.77	14.6	22.28
Return on Assets (%)	1.15	1.04	1.31	1.21	0.95	0.86	- -	2.66	1.31	1.75	1.55	1.14	0.93	1.26	2.04
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	- -	100	100	100	100	100	100	100	100
EBITDA Margin (%)	3.88	4.01	3.41	2.66	2.74	3.89	- -	3.5	3.99	3.21	3.36	2.45	2.55	2.33	1.66
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	36.11	33.98	38.05	26.71	21.12	25.4	- -	25.78	25.67	31.68	36.06	29.8	24.38	30.27	39.72
Profit Margin (%)	23.83	22.44	25.44	17.52	14.47	14.03	- -	21.42	20.33	24.54	28.19	23.79	19.59	23.82	30.36
Net Income to Common Margin (%)	23.83	22.44	25.44	17.52	14.47	14.03	- -	21.42	20.33	24.54	28.19	23.79	19.59	23.82	30.36
Effective Tax Rate (%)	31.39	33.48	31.39	32.39	28.76	43.37	- -	16.91	20.8	22.52	21.83	20.14	19.66	21.33	23.56
Dvd Payout Ratio (%)	26.31	33.72	25.92	27.1	34.5	43.21	- -	35.31	41.14	26.89	25.02	34.39	53.59	37.19	22.52
Sustainable Growth Rate (%)	12.45	9.57	13.45	11.93	7.9	5.85	- -	17.93	8.11	14.32	14.43	9.17	5	9.17	17.26

Credit (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	23	25	45	21	23	18	- -	18	33	38	36	34	33	41	88
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	23	25	45	21	23	18	- -	18	33	38	36	34	33	41	87
Total Debt/EBITDA	10.93	11.4	19.22	7.66	8.38	4.85	- -	5.38	8.22	8.72	8	10.83	9.99	11.31	24.81
Net Debt/EBITDA	-62.54	-33.62	-11.65	-14.07	-10.13	-16.52	- -	-18.38	-18.75	-21.13	-138.8	-74.26	-28.55	-8.14	-18.16
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	7	7.36	7.06	7.67	8.13	8.64	- -	9.6	9.5	8.47	7.71	8.6	8.6	8.71	9.58
Long-Term Debt/Equity (%)	16.9	17.38	27.28	11.67	12.26	9.17	- -	8.52	16.14	16.93	15.05	15.67	14.09	15.29	26.71
Long-Term Debt/Capital (%)	22.07	21.88	30.45	15.22	15.57	11.86	- -	10.84	17.63	17.26	14.56	12.97	12.04	13.36	21.65
Long-Term Debt/Total Assets (%)	1.99	2.06	3.1	1.38	1.5	1.16	- -	1.17	2.03	1.77	1.31	1.28	1.18	1.34	2.65
Total Debt/Equity (%)	16.9	17.38	27.28	11.67	12.26	9.17	- -	8.52	16.14	16.93	15.05	15.67	14.09	15.29	26.85
Total Debt/Capital (%)	22.07	21.88	30.45	15.22	15.57	11.86	- -	10.84	17.63	17.26	14.56	12.97	12.04	13.36	21.77
Total Debt/Total Assets (%)	1.99	2.06	3.1	1.38	1.5	1.16	- -	1.17	2.03	1.77	1.31	1.28	1.18	1.34	2.66
Net Debt to Equity	-96.64	-51.28	-16.54	-21.44	-14.81	-31.21	- -	-29.13	-36.8	-41	-261.13	-107.46	-40.28	-11	-19.65
Net Debt/Capital (%)	261.31	-475.8	-36.13	-49.21	-28.66	-84.61	- -	-71.12	-80.93	-89.68	155.26	-4,848.23	-60.57	-12.09	-24.98
EBITDA	2	2	2	3	3	4	- -	3	4	4	4	3	3	4	4
EBITDA-CapEx	1	- -	-4	-4	-1	-4	- -	-1	1	1	2	-1	-3	3	-2
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	7	7.36	7.06	7.67	8.13	8.64	- -	9.6	9.5	8.47	7.71	8.6	8.6	8.71	9.58
Long-Term Debt/Equity (%)	16.9	17.38	27.28	11.67	12.26	9.17	- -	8.52	16.14	16.93	15.05	15.67	14.09	15.29	26.71
Long-Term Debt/Capital (%)	22.07	21.88	30.45	15.22	15.57	11.86	- -	10.84	17.63	17.26	14.56	12.97	12.04	13.36	21.65
Long-Term Debt/Total Assets (%)	1.99	2.06	3.1	1.38	1.5	1.16	- -	1.17	2.03	1.77	1.31	1.28	1.18	1.34	2.65
Total Debt/Equity (%)	16.9	17.38	27.28	11.67	12.26	9.17	- -	8.52	16.14	16.93	15.05	15.67	14.09	15.29	26.85
Total Debt/Capital (%)	22.07	21.88	30.45	15.22	15.57	11.86	- -	10.84	17.63	17.26	14.56	12.97	12.04	13.36	21.77
Total Debt/Total Assets (%)	1.99	2.06	3.1	1.38	1.5	1.16	- -	1.17	2.03	1.77	1.31	1.28	1.18	1.34	2.66
CFO/Total Liabilities	3.18	1.74	1.59	0.8	1.5	1.45	- -	1.94	-0.06	-1.92	4.5	3.18	1.51	-0.31	4.7
CFO/CapEx	20.48	8.44	3	1.49	6.11	2.67	- -	6.24	-0.27	-11.17	44.65	20.29	6.14	-14.08	25.48
Altman's Z-Score	0.22	0.24	0.22	0.25	0.27	0.29	- -	0.3	0.3	0.25	0.22	0.24	0.24	0.27	0.32

Working Capital (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	19.7	20.54	22.43	29.03	27.09	23.08	- -	38.77	21.82	21.45	17.95	15.4	11.84	13.23	17.7
Days Sales Outstanding	18.53	17.77	16.27	12.57	13.47	15.81	- -	9.41	16.73	17.01	20.33	23.71	30.82	27.58	20.62
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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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	147	171	177	182	218	233	71	226	257	216	269	315	320	429	588
- Cash & Cash Equivalents	155	99	72	59	51	78	- -	78	95	116	646	259	119	63	146
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	23	25	45	21	23	18	- -	18	33	38	36	34	33	41	88
Enterprise Value	-189	-151	-131	-146	-141	-134	71	-105	-81	-110	-768	-588	-403	-72	332
Total Capital	104	115	147	136	147	149	- -	162	190	217	246	264	275	306	403
Total Debt/Capital (%)	22.07	21.88	30.45	15.22	15.57	11.86	- -	10.84	17.63	17.26	14.56	12.97	12.04	13.36	21.77
Total Debt / EV	-0.12	-0.17	-0.34	-0.14	-0.16	-0.13	- -	-0.17	-0.41	-0.34	-0.05	-0.06	-0.08	-0.57	0.26
EV/Sales	0.96	2.59	2.72	1.92	2.86	3.65	- -	4.01	4.84	3.02	- -	1.9	3.91	7.83	1.56
EV/EBITDA	24.68	64.58	79.86	72.14	104.26	93.87	- -	114.68	121.13	94.02	- -	77.48	153.17	336.58	93.81
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	1.6	7.62	9.1	18.32	14.15	17.73	- -	14.88	- -	- -	- -	3.14	13.08	- -	2.38
EV/Free Cash Flow to Firm	1.52	6.81	6.83	10.96	12.16	12.89	- -	12.83	222	- -	- -	2.99	11.25	- -	2.29
Diluted Market Cap	149	173	180	185	220	236	73	230	261	218	272	318	324	435	598
Diluted Enterprise Value	17	100	153	147	193	176	73	170	199	140	-338	93	238	413	540
EV per Share	2.01	5.45	6.89	7.1	10.34	12.41	10.39	13.61	18.35	15.9	- -	10.63	22.63	55.2	15.01
TTM Sales	54	55	68	102	100	94	- -	93	102	134	133	129	130	155	213
TTM EBITDA	2	2	2	3	3	4	- -	3	4	4	4	3	3	4	4
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	33	19	20	11	20	19	- -	25	-1	-36	112	78	39	-9	139
TTM Free Cash Flow to Firm	34	21	27	18	23	27	- -	29	2	-33	114	82	45	-8	145

Multiples (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	4.36	8.32	6.58	10.4	9.41	8.9	- -	7.87	117.5	-6.58	2.37	3.88	7.18	-53.7	4.13
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-189	-151	-131	-146	-141	-134	71	-105	-81	-110	-768	-588	-403	-72	332
Low Price	4.38	5.23	5.78	5.18	5.4	6.58	7.96	7.42	7.84	4.33	7.93	9.61	8.32	10.98	16.18
EV/Sales	0.96	2.59	2.72	1.92	2.86	3.65	- -	4.01	4.84	3.02	- -	1.9	3.91	7.83	1.56
EV/EBITDA	24.68	64.58	79.86	72.14	104.26	93.87	- -	114.68	121.13	94.02	- -	77.48	153.17	336.58	93.81
Price/Earnings	11.33	13.88	10.19	10.26	15.09	17.73	- -	11.3	12.41	6.56	7.16	10.23	12.62	11.6	9.1
Price/Earnings Average	10.52	12.43	9.96	9.95	12.41	16.41	- -	13	11.85	5.52	6.9	8.29	10.03	9.11	7.45
Price/Earnings High	11.49	14.66	11.31	11.48	15.76	19.99	- -	15.61	13.71	7.85	7.94	10.64	13.22	13.65	9.64
Price/Earnings Low	8.77	11.06	8.98	7.99	10.32	13.79	- -	10.2	10.17	3.35	5.23	7.21	7.34	6.54	5.53
Price/Book Value	1.8	1.91	1.73	1.59	1.75	1.78	- -	1.57	1.64	1.2	1.28	1.37	1.33	1.62	1.87
Price/Book Value Average	1.68	1.71	1.69	1.54	1.44	1.64	- -	1.8	1.57	1.01	1.23	1.11	1.05	1.27	1.53
Price/Book Value High	1.83	2.02	1.92	1.77	1.83	2	- -	2.16	1.82	1.44	1.42	1.42	1.39	1.91	1.98
Price/Book Value Low	1.4	1.53	1.53	1.24	1.2	1.38	- -	1.41	1.35	0.61	0.93	0.96	0.77	0.91	1.13
Price/Tangible Book Value	1.14	1.25	1.27	1.2	1.31	1.42	- -	1.31	1.48	1.14	1.32	1.75	1.63	2.3	2.4
Price/Tangible Book Value Average	1.06	1.12	1.24	1.17	1.08	1.32	- -	1.5	1.41	0.96	1.27	1.41	1.3	1.8	1.96
Price/Tangible Book Value High	1.16	1.33	1.41	1.34	1.37	1.6	- -	1.8	1.64	1.37	1.46	1.82	1.71	2.7	2.54
Price/Tangible Book Value Low	0.89	1	1.12	0.94	0.89	1.11	- -	1.18	1.21	0.58	0.96	1.23	0.95	1.29	1.46
Price/Sales	2.7	3.11	2.59	1.8	2.18	2.49	- -	2.42	2.52	1.61	2.02	2.43	2.47	2.76	2.76
Price/Sales Average	2.51	2.79	2.53	1.74	1.8	2.3	- -	2.78	2.41	1.35	1.94	1.97	1.97	2.17	2.26
Price/Sales High	2.74	3.29	2.88	2.01	2.28	2.81	- -	3.34	2.79	1.93	2.24	2.53	2.59	3.25	2.93
Price/Sales Low	2.09	2.48	2.28	1.4	1.49	1.94	- -	2.19	2.07	0.82	1.47	1.72	1.44	1.56	1.68
Price/Cash Flow	4.51	9.17	8.66	17.16	10.81	12.09	- -	8.99	-312.8	-5.92	2.4	4.03	8.26	-49.16	4.22
Price/Cash Flow Average	4.18	8.22	8.46	16.64	8.89	11.19	- -	10.34	-298.65	-4.98	2.31	3.26	6.57	-38.59	3.45
Price/Cash Flow High	4.57	9.69	9.61	19.19	11.29	13.63	- -	12.42	-345.48	-7.08	2.66	4.19	8.66	-57.83	4.47
Price/Cash Flow Low	3.49	7.31	7.63	13.36	7.39	9.4	- -	8.12	-256.25	-3.02	1.75	2.84	4.81	-27.69	2.56
Price/Free Cash Flow Average	4.05	7.45	6.43	10.08	7.74	8.24	- -	9.04	112.19	-5.53	2.29	3.15	5.71	-42.15	3.38
Price/Free Cash Flow High	4.42	8.78	7.31	11.63	9.83	10.04	- -	10.86	129.78	-7.88	2.63	4.04	7.52	-63.18	4.38
Price/Free Cash Flow Low	3.37	6.63	5.8	8.1	6.43	6.93	- -	7.1	96.26	-3.36	1.73	2.74	4.18	-30.25	2.51
EV/Sales Average	0.08	1.45	2.14	1.37	1.52	1.66	- -	2.14	1.8	0.77	2.1	0.23	1.31	2.03	1.99
EV/Sales High	0.31	1.95	2.48	1.64	2	2.16	- -	2.7	2.18	1.34	4.37	0.79	1.93	3.11	2.65
EV/Sales Low	5.93	1.14	1.89	1.03	1.22	1.29	- -	1.54	1.46	0.24	1.31	5.12	0.78	1.42	1.41
EV/EBITDA Average	2.15	36.07	62.66	51.5	55.43	42.73	- -	61.27	45.07	23.96	-78.5	9.4	51.13	87.21	119.69
EV/EBITDA High	8.08	48.55	72.76	61.57	73.1	55.67	- -	77.28	54.53	41.82	-69.77	32.28	75.56	133.75	159.84
EV/EBITDA Low	-8.64	28.41	55.38	38.62	44.36	33.27	- -	44.16	36.5	7.35	-92.53	-1.1	30.49	60.88	84.65
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	5.66	6.56	6.56	6.65	7.9	8.46	10.39	8.22	9.57	8.49	10.87	13.64	14.3	19.49	26.61
High Price	5.74	6.93	7.28	7.44	8.25	9.54	11.35	11.35	10.57	10.16	12.05	14.19	14.98	22.93	28.21
Enterprise Value Average	5	79	146	139	151	156	64	200	183	103	-351	30	169	315	423
Enterprise Value High	17	107	170	166	200	203	78	252	222	180	-312	102	250	483	565
Enterprise Value Low	-18	63	129	104	121	121	55	144	148	32	-414	-3	101	220	299

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	26	26	27	28	28	27	- -	28	26	25	24	23	22	22	22
Diluted Weighted Avg Shares	26	26	27	28	28	28	7	28	27	26	25	23	23	22	22
Basic Weighted Avg Shares	26	26	27	27	28	28	7	28	27	25	25	23	22	22	22
Revenue per Share	2.1	2.11	2.53	3.7	3.62	3.4	- -	3.39	3.79	5.27	5.38	5.6	5.79	7.05	9.63
EBITDA per Share	0.08	0.08	0.09	0.1	0.1	0.13	- -	0.12	0.15	0.17	0.18	0.14	0.15	0.16	0.16
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	0.5	0.47	0.64	0.65	0.52	0.48	- -	0.73	0.77	1.29	1.52	1.33	1.13	1.68	2.92
Basic EPS from Cont Ops	0.52	0.48	0.66	0.67	0.54	0.49	- -	0.73	0.77	1.29	1.52	1.33	1.13	1.68	2.92
Diluted EPS, GAAP	0.49	0.47	0.64	0.64	0.52	0.47	- -	0.72	0.76	1.28	1.5	1.32	1.12	1.66	2.87
Diluted EPS from Cont Ops	0.51	0.47	0.65	0.66	0.54	0.48	- -	0.72	0.76	1.28	1.5	1.32	1.12	1.66	2.87
Dividend per Share	0.14	0.16	0.18	0.19	0.2	0.22	- -	0.26	0.32	0.35	0.38	0.46	0.61	0.62	0.66
Cash Flow per Share	1.26	0.72	0.76	0.39	0.73	0.7	- -	0.91	-0.03	-1.43	4.53	3.39	1.73	-0.4	6.31
Free Cash Flow per Basic Share	1.19	0.63	0.5	0.13	0.61	0.44	- -	0.77	-0.14	-1.56	4.43	3.22	1.45	-0.42	6.06
Cash & Equivalents per Share	13.85	13.34	13.08	12.75	13.87	13.97	- -	12.69	13.85	14.3	43.38	40.61	33.76	24.59	15.57
Book Value per Share	3.14	3.43	3.78	4.19	4.5	4.76	- -	5.25	5.82	7.07	8.5	9.97	10.78	12.03	14.27
Tangible Book Value per Share	4.95	5.23	5.15	5.53	6.04	5.95	- -	6.29	6.46	7.44	8.26	7.81	8.76	8.49	11.11

Northrim BanCorp, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)