NetSol Technologies, Inc. Financial Ratios — NTWK Stock

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
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	7.26	2.76	8.1	-11.49	-6.04	3.73	-5.16	4.32	9.17	1.07	2.03	-1.07	-8.01	1.12	4.62
Return on Capital (%)	-26.55	12.22	-134.19	- -	- -	-9.59	- -	-11.64	-31.97	-5.1	-9.64	12.42	- -	-0.08	-6.52
Return on Invested Capital (%)	14	8.99	14.32	- -	- -	6.99	- -	3.13	7.83	0.71	2.42	-0.83	- -	4.92	5.31
Gross Margin (%)	59.49	54.05	59.27	23.81	34.2	47.72	43.46	47.93	51.44	47.83	47.98	41.46	32.29	47.7	49.29
EBITDA Margin (%)	39.4	30.25	38.42	-11.98	10.14	20.84	8.51	14.16	16.59	8.52	12.16	4.78	-10.57	8.5	7.51
Operating Margin (%)	27.67	18.58	26.98	-35.98	-10.12	9.76	-1.53	5.01	10.07	1.9	4.95	-1.88	-16.76	5.69	5.3
Incremental Operating Margin (%)	595.44	-84.36	60.18	- -	- -	84.93	- -	-91.44	54.77	50.3	-113.69	- -	- -	136.37	0.17
Pretax Margin (%)	26.88	16.86	28.77	-37.81	-9.47	8.85	-1.23	13.17	19.28	4.14	5.99	3.65	-6.14	5.25	9.15
Profit Margin (%)	15.67	6.15	15.77	-31.21	-10.87	5.27	-7.62	7.07	12.66	1.66	3.24	-1.49	-10.01	1.11	4.42
Net Income to Common Margin (%)	15.67	6.15	15.77	-31.21	-10.87	5.27	-7.62	7.07	12.66	1.66	3.24	-1.49	-10.01	1.11	4.42
Effective Tax Rate (%)	1.23	0.83	3.25	- -	- -	11.43	- -	10.88	8.09	48.91	31.22	47.32	- -	35.54	24.41
Dvd Payout Ratio (%)	9.44	3.15	2.15	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

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
Total Debt	13	10	7	7	4	5	11	9	7	13	13	10	7	8	9
ST Debt	12	7	5	6	4	4	10	9	7	10	12	9	6	7	9
LT Debt	1	3	1	2	- -	- -	- -	- -	1	3	1	1	1	1	- -
Total Debt/EBITDA	0.89	0.8	0.35	-1.68	0.85	0.37	1.9	1.03	0.66	2.73	2.02	3.67	-1.29	1.47	1.84
Net Debt/EBITDA	0.09	0.09	-0.09	1.18	-2.05	-0.57	-0.78	-1.6	-0.96	-2.07	-3.28	-5.71	1.79	-2.48	-1.85
Total Debt/EBIT	1.27	1.3	0.5	-0.56	-0.85	0.78	-10.58	2.92	1.09	12.27	4.96	-9.31	-0.81	2.2	2.61
Net Debt/EBIT	0.13	0.15	-0.13	0.39	2.06	-1.21	4.31	-4.52	-1.58	-9.3	-8.05	14.47	1.13	-3.7	-2.62
EBITDA to Interest Expense	16.67	14.61	28.85	-17.05	31.01	50.86	17.94	20.43	36.09	13.85	16.93	7.39	-7.24	4.57	5.7
EBITDA-CapEx/Interest Expense	-3.22	1.16	8.08	-82.06	9.7	38.25	10.83	14.63	27.34	9.87	10.46	0.34	-9.38	4.11	4.11
EBIT to Interest Expense	11.71	8.97	20.26	-51.2	-30.94	23.82	-3.23	7.23	21.9	3.09	6.9	-2.92	-11.48	3.06	4.02
Interest Expense	1	1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	1	1
Common Equity/Total Assets	-39.79	-34.6	-23.11	-36.97	-45.66	-39.87	-42.33	-37.96	-40.1	-38.6	-44.66	-54.44	-76.69	-68.69	-65.92
Long-Term Debt/Equity (%)	1.11	4.02	1.58	1.95	0.66	0.62	0.47	0.43	0.85	4.4	2.04	1.82	2.25	1.98	1.11
Long-Term Debt/Capital (%)	-8.25	-45.37	542.87	-13.16	-2.18	-2.52	-2.18	-2.23	-2.94	-19.82	-7.03	-3.84	-2.39	-2.47	-1.7
Long-Term Debt/Total Assets (%)	0.84	3.3	1.38	1.61	0.55	0.51	0.37	0.33	0.65	3.26	1.46	1.27	1.42	1.22	0.75
Total Debt/Equity (%)	19.79	12.76	7.52	9.3	5.95	6.33	13.54	11.6	11.24	20.05	21.8	19.74	19.34	19.4	21.63
Total Debt/Capital (%)	-147.22	-144.12	2,583.55	-62.93	-19.57	-25.94	-63.03	-60.3	-38.9	-90.39	-75.03	-41.76	-20.51	-24.17	-33.13
Total Debt/Total Assets (%)	15	10.48	6.54	7.72	4.93	5.27	10.62	8.95	8.54	14.84	15.57	13.83	12.18	11.95	14.64
Net Debt to Equity	2.04	1.52	-2	-6.54	-14.42	-9.8	-5.51	-17.94	-16.18	-15.21	-35.39	-30.69	-26.99	-32.66	-21.68
Net Debt/Capital (%)	-10.29	-7.99	23.54	22.31	29.04	24.92	13.92	37.42	29.42	28.7	42.36	32.51	19.77	25.39	20.38
EBITDA	14	12	19	-4	5	13	6	9	11	5	7	3	-6	5	5
EBITDA-CapEx	-3	1	5	-21	2	10	3	6	9	3	4	- -	-7	5	4
Operating Income (Loss)	10	7	13	-13	-5	6	-1	3	7	1	3	-1	-9	3	4

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
Cash Ratio	0.21	0.57	0.66	0.78	0.96	0.76	0.67	0.98	0.85	1	1.44	1.15	0.75	0.8	0.88
Current Ratio	1.73	2.72	3.54	1.84	2.11	2.66	2.1	2.55	2.49	2.58	2.37	2.37	2	1.99	2.35
Quick Ratio	0.96	2.56	3.23	1.53	2	2.54	1.99	2.45	2.37	2.49	2.25	2.27	1.91	1.89	2.21
CFO/Avg Current Liab	0.69	0.49	1.1	1.41	0.34	0.11	0.03	0.72	0.23	0.2	0.72	0.14	0.1	0.13	0.02
Common Equity/Total Assets	-39.79	-34.6	-23.11	-36.97	-45.66	-39.87	-42.33	-37.96	-40.1	-38.6	-44.66	-54.44	-76.69	-68.69	-65.92
Long-Term Debt/Equity (%)	1.11	4.02	1.58	1.95	0.66	0.62	0.47	0.43	0.85	4.4	2.04	1.82	2.25	1.98	1.11
Long-Term Debt/Capital (%)	-8.25	-45.37	542.87	-13.16	-2.18	-2.52	-2.18	-2.23	-2.94	-19.82	-7.03	-3.84	-2.39	-2.47	-1.7
Long-Term Debt/Total Assets (%)	0.84	3.3	1.38	1.61	0.55	0.51	0.37	0.33	0.65	3.26	1.46	1.27	1.42	1.22	0.75
Total Debt/Equity (%)	19.79	12.76	7.52	9.3	5.95	6.33	13.54	11.6	11.24	20.05	21.8	19.74	19.34	19.4	21.63
Total Debt/Capital (%)	-147.22	-144.12	2,583.55	-62.93	-19.57	-25.94	-63.03	-60.3	-38.9	-90.39	-75.03	-41.76	-20.51	-24.17	-33.13
Total Debt/Total Assets (%)	15	10.48	6.54	7.72	4.93	5.27	10.62	8.95	8.54	14.84	15.57	13.83	12.18	11.95	14.64
CFO/Total Liabilities	67.14	49.61	104.24	115.42	33.14	10.56	2.11	68.81	23.48	17.27	63.56	14.07	9.3	11.8	2.22
CFO/CapEx	0.81	0.73	1	1.12	1.43	0.5	0.21	6.42	1.81	2.88	6.16	1.17	1.23	5.64	0.32
Altman's Z-Score	3.23	1.89	5.25	0.58	1.9	3.31	1.62	2.4	2.95	1.51	1.97	1.51	0.44	1.42	2.04

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
Accounts Receivable Turnover	2.67	2.76	3.51	3.26	5.8	5.09	5.54	5	4.27	4.17	7.04	8.91	5.14	4.96	6.42
Days Sales Outstanding	136.54	132.23	104.13	111.95	62.95	71.68	65.92	73.02	85.44	87.45	51.83	40.97	71	73.61	56.82
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	11.09	13.92	19.3	22.47	21.28	23.59	26.28	20.26	23.34	23.46	23.62	29.87	30.98	25.26	27.83
Accounts Payable Turnover Days	32.91	26.23	18.91	16.24	17.15	15.47	13.89	18.02	15.64	15.56	15.45	12.22	11.78	14.45	13.12
Cash Conversion Cycle	103.63	106.01	85.22	95.71	45.8	56.21	52.03	55	69.8	71.89	36.38	28.76	59.22	59.17	43.71
Inventory to Cash Days	136.54	132.23	104.13	111.95	62.95	71.68	65.92	73.02	85.44	87.45	51.83	40.97	71	73.61	56.82
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
Market Capitalization	84	27	83	35	50	61	43	62	65	32	54	36	27	29	36
- Cash & Cash Equivalents	4	8	8	11	14	12	14	22	17	20	34	24	16	19	17
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	13	15	17	16	14	13	15	14	8	6	7	5	3	5	4
+ Total Debt	13	10	7	7	4	5	11	9	7	13	13	10	7	8	9
Enterprise Value	106	45	99	47	54	67	54	63	63	31	41	27	21	22	32
Total Capital	-9	-7	- -	-12	-22	-19	-17	-15	-19	-15	-18	-24	-35	-32	-28
Total Debt/Capital (%)	-147.22	-144.12	2,583.55	-62.93	-19.57	-25.94	-63.03	-60.3	-38.9	-90.39	-75.03	-41.76	-20.51	-24.17	-33.13
Total Debt / EV	0.12	0.21	0.07	0.16	0.08	0.07	0.19	0.14	0.12	0.42	0.33	0.37	0.34	0.35	0.28
EV/Sales	2.89	1.12	1.98	1.3	1.06	1.04	0.83	1.04	0.93	0.55	0.75	0.48	0.4	0.36	0.49
EV/EBITDA	7.34	3.71	5.15	- -	10.46	5.01	9.77	7.32	5.63	6.48	6.16	10.01	- -	4.24	6.49
EV/EBIT	10.45	6.04	7.33	- -	- -	10.69	- -	20.66	9.28	29.09	15.13	- -	- -	6.34	9.2
EV/Cash Flow to Firm	7.15	5	6.81	2.5	10.3	35.59	48.34	3.92	12.14	7.5	2.57	8.4	7.07	6.07	29.13
EV/Free Cash Flow to Firm	3.31	2.23	3.49	1.33	6.14	12.89	16.33	3.41	7.97	5.63	2.22	4.66	4.57	5.32	12.94
Diluted Market Cap	86	27	83	35	50	62	43	62	65	32	54	36	27	29	36
Diluted Enterprise Value	107	45	100	47	54	69	54	63	63	31	41	27	21	22	32
EV per Share	21.76	7.17	12.03	5.2	5.57	6.48	4.98	5.64	5.46	2.65	3.58	2.43	1.88	1.95	2.78
TTM Sales	37	40	50	36	51	65	65	61	68	56	55	57	52	61	66
TTM EBITDA	14	12	19	-4	5	13	6	9	11	5	7	3	-6	5	5
TTM Operating Income	10	7	13	-13	-5	6	-1	3	7	1	3	-1	-9	3	4
TTM Cash Flow to Firm	15	9	14	19	5	2	1	16	5	4	16	3	3	4	1
TTM Free Cash Flow to Firm	32	20	28	36	9	5	3	19	8	6	19	6	5	4	2

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
Price/Free Cash Flow	2.77	1.43	3.02	1	5.8	12.38	16.22	3.42	8.48	5.95	2.96	6.32	7.3	8.47	19.67
EV/EBIT	10.45	6.04	7.33	- -	- -	10.69	- -	20.66	9.28	29.09	15.13	- -	- -	6.34	9.2
Enterprise Value	106	45	99	47	54	67	54	63	63	31	41	27	21	22	32
Low Price	7.1	3.53	4	3.6	2.68	4.2	3.8	3.08	5.12	2	2.35	2.74	2.11	1.72	2.14
EV/Sales	2.89	1.12	1.98	1.3	1.06	1.04	0.83	1.04	0.93	0.55	0.75	0.48	0.4	0.36	0.49
EV/EBITDA	7.34	3.71	5.15	- -	10.46	5.01	9.77	7.32	5.63	6.48	6.16	10.01	- -	4.24	6.49
Price/Earnings	14.75	11.13	10.49	- -	- -	17.83	- -	14.43	7.55	33.81	30.46	- -	- -	42.26	12.32
Price/Earnings Average	13.02	15.47	8.27	-5.18	-7.87	18.66	-11.75	11.81	8.98	51.56	24.25	-53.7	-6.26	39.22	10.69
Price/Earnings High	20.25	45.24	14.61	-9.66	-11.4	29.01	-15.34	17.16	14.22	80.77	39.58	-74.68	-8.17	50.75	13.23
Price/Earnings Low	6.02	8.97	4.17	-2.87	-4.7	12.83	-8.33	8.02	6.92	25.05	15.2	-36.26	-4.54	28.56	8.47
Price/Book Value	-2.48	-0.86	-3.48	-1	-1.23	-1.63	-1.02	-1.64	-1.85	-0.93	-1.4	-0.91	-0.59	-0.66	-0.87
Price/Book Value Average	-2.19	-1.2	-2.74	-1.68	-1.08	-1.71	-1.39	-1.34	-2.2	-1.41	-1.11	-1.16	-0.73	-0.61	-0.76
Price/Book Value High	-3.4	-3.5	-4.84	-3.13	-1.56	-2.65	-1.81	-1.95	-3.48	-2.22	-1.82	-1.61	-0.96	-0.79	-0.94
Price/Book Value Low	-1.01	-0.69	-1.38	-0.93	-0.64	-1.17	-0.98	-0.91	-1.69	-0.69	-0.7	-0.78	-0.53	-0.44	-0.6
Price/Tangible Book Value	2.83	0.74	1.64	0.87	1.21	1.25	0.83	1.13	1.31	0.63	1.12	0.9	0.97	0.96	1.09
Price/Tangible Book Value Average	2.5	1.03	1.29	1.46	1.06	1.31	1.13	0.92	1.55	0.96	0.89	1.14	1.2	0.89	0.95
Price/Tangible Book Value High	3.88	3	2.28	2.71	1.53	2.04	1.48	1.34	2.46	1.5	1.45	1.59	1.57	1.15	1.17
Price/Tangible Book Value Low	1.15	0.6	0.65	0.81	0.63	0.9	0.8	0.63	1.2	0.46	0.56	0.77	0.87	0.65	0.75
Price/Sales	2.31	0.68	1.66	0.97	0.98	0.94	0.66	1.02	0.96	0.56	0.99	0.63	0.51	0.47	0.54
Price/Sales Average	2.04	0.95	1.3	1.62	0.86	0.98	0.89	0.83	1.14	0.86	0.79	0.8	0.63	0.44	0.47
Price/Sales High	3.17	2.78	2.3	3.01	1.24	1.53	1.17	1.21	1.8	1.34	1.28	1.11	0.82	0.57	0.59
Price/Sales Low	0.94	0.55	0.66	0.9	0.51	0.68	0.63	0.57	0.88	0.42	0.49	0.54	0.45	0.32	0.37
Price/Cash Flow	6.07	3.36	5.96	1.89	9.87	36.58	94.87	3.95	13.14	7.98	3.44	11.71	13.25	9.93	80.49
Price/Cash Flow Average	5.36	4.67	4.7	3.16	8.6	38.26	128.75	3.24	15.62	12.16	2.74	14.93	16.33	9.22	69.84
Price/Cash Flow High	8.33	13.64	8.3	5.89	12.45	59.5	168.12	4.7	24.75	19.05	4.48	20.77	21.33	11.93	86.45
Price/Cash Flow Low	2.48	2.7	2.37	1.75	5.13	26.31	91.26	2.2	12.04	5.91	1.72	10.08	11.84	6.71	55.39
Price/Free Cash Flow Average	2.45	1.98	2.38	1.67	5.06	12.95	22.01	2.8	10.08	9.07	2.36	8.06	8.99	7.86	17.07
Price/Free Cash Flow High	3.81	5.79	4.2	3.11	7.32	20.13	28.74	4.07	15.97	14.21	3.85	11.21	11.75	10.17	21.13
Price/Free Cash Flow Low	1.13	1.15	1.2	0.93	3.02	8.9	15.6	1.9	7.77	4.41	1.48	5.44	6.52	5.72	13.54
EV/Sales Average	2.62	1.39	1.63	1.95	0.94	1.09	1.07	0.85	1.11	0.85	0.55	0.65	0.52	0.33	0.42
EV/Sales High	3.75	3.22	2.63	3.34	1.32	1.63	1.34	1.23	1.78	1.33	1.04	0.96	0.71	0.46	0.53
EV/Sales Low	1.52	0.99	0.98	1.23	0.59	0.78	0.81	0.58	0.85	0.41	0.26	0.39	0.35	0.21	0.32
EV/EBITDA Average	6.65	4.59	4.24	-16.25	9.22	5.22	12.54	6.01	6.72	9.95	4.51	13.62	-4.94	3.85	5.53
EV/EBITDA High	9.53	10.64	6.84	-27.91	13	7.84	15.75	8.68	10.72	15.65	8.59	20.15	-6.76	5.36	7.02
EV/EBITDA Low	3.86	3.27	2.55	-10.23	5.82	3.74	9.47	4.12	5.15	4.77	2.1	8.19	-3.32	2.45	4.23
EV/EBIT Average	9.47	7.47	6.03	-5.41	-9.24	11.14	-69.63	16.97	11.07	44.63	11.07	-34.53	-3.12	5.74	7.84
EV/EBIT High	13.57	17.33	9.74	-9.29	-13.03	16.73	-87.5	24.51	17.66	70.2	21.09	-51.09	-4.26	8	9.96
EV/EBIT Low	5.5	5.32	3.64	-3.41	-5.83	7.99	-52.62	11.63	8.48	21.42	5.15	-20.76	-2.09	3.65	5.99
Last Price	17.4	4.38	10.06	3.88	5.15	5.84	3.95	5.55	5.59	2.7	4.71	3.18	2.36	2.54	3.11
High Price	23.9	17.8	14.01	12.1	6.5	9.5	7	6.6	10.52	6.45	6.12	5.65	3.8	3.05	3.34
Enterprise Value Average	96	55	81	71	48	70	70	52	76	48	30	37	27	20	27
Enterprise Value High	137	128	131	122	67	105	88	75	121	75	57	55	37	28	35
Enterprise Value Low	56	39	49	45	30	50	53	36	58	23	14	22	18	13	21

	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
Shares Outstanding	6	8	9	9	10	11	11	12	12	12	11	11	11	11	12
Diluted Weighted Avg Shares	5	6	8	9	10	11	11	11	12	12	11	11	11	11	12
Basic Weighted Avg Shares	5	6	8	9	10	10	11	11	12	12	11	11	11	11	12
Revenue per Share	7.53	6.4	6.08	4.01	5.25	6.21	5.99	5.44	5.85	4.8	4.78	5.09	4.64	5.4	5.71
EBITDA per Share	2.97	1.93	2.34	-0.48	0.53	1.29	0.51	0.77	0.97	0.41	0.58	0.24	-0.49	0.46	0.43
Operating Income per Share	2.08	1.19	1.64	-1.44	-0.53	0.61	-0.09	0.27	0.59	0.09	0.24	-0.1	-0.78	0.31	0.3
Basic EPS, GAAP	1.18	0.39	0.96	-1.25	-0.57	0.33	-0.46	0.38	0.74	0.08	0.15	-0.08	-0.46	0.06	0.25
Basic EPS from Cont Ops	2	1.07	1.69	-1.56	-0.54	0.49	-0.16	0.64	1.04	0.1	0.2	0.1	-0.37	0.18	0.39
Diluted EPS, GAAP	1.16	0.39	0.95	-1.25	-0.57	0.32	-0.46	0.38	0.74	0.08	0.15	-0.08	-0.46	0.06	0.25
Diluted EPS from Cont Ops	1.96	1.06	1.67	-1.56	-0.54	0.48	-0.16	0.64	1.03	0.1	0.2	0.1	-0.37	0.18	0.39
Dividend per Share	0.27	0.05	0.05	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	2.87	1.3	1.69	2.06	0.52	0.16	0.04	1.4	0.43	0.34	1.37	0.27	0.18	0.26	0.04
Free Cash Flow per Basic Share	-0.67	-0.48	0.01	0.22	0.16	-0.16	-0.16	1.18	0.19	0.22	1.15	0.04	0.03	0.21	-0.08
Cash & Equivalents per Share	0.86	1.22	0.96	1.26	1.46	1.11	1.3	1.97	1.5	1.72	2.93	2.13	1.38	1.68	1.5
Book Value per Share	-7.02	-5.08	-2.89	-3.87	-4.18	-3.58	-3.87	-3.38	-3.02	-2.91	-3.36	-3.51	-3.97	-3.87	-3.56
Tangible Book Value per Share	6.15	5.92	6.14	4.46	4.25	4.66	4.73	4.93	4.28	4.31	4.21	3.55	2.42	2.66	2.85

NetSol Technologies, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)