Orange County Bancorp, Inc. Financial Ratios — OBT Stock

Profitability (USD)

	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 (%)	- -	13.05	8.36	24.41	30.58	25.44	36.16	31.38	29.82	22.95	27.69
Return on Assets (%)	- -	0.42	0.25	0.75	1	0.81	1.12	1.1	1.24	1.12	1.61
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	3.05	2.93	3.71	3.1	2.8	2.61	2.3	1.88	1.93	1.81	1.44
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	-6.47	12.68	16.46	20.36	27.33	24.32	37.04	33.69	36.53	32.35	40.56
Profit Margin (%)	-0.54	10.58	5.95	16.75	21.78	19.56	29.55	27.11	28.99	25.91	32.74
Net Income to Common Margin (%)	-0.54	10.58	5.95	16.75	21.78	19.56	29.55	27.11	28.99	25.91	32.74
Effective Tax Rate (%)	- -	16.54	63.85	17.73	20.32	19.56	20.2	19.53	20.65	19.92	19.28
Dvd Payout Ratio (%)	-2,013.75	88.51	137.18	43.22	31.24	30.7	18.93	19.16	17.61	19.1	17.06
Sustainable Growth Rate (%)	- -	1.5	-3.11	13.86	21.03	17.63	29.32	25.37	24.57	18.57	22.97

Credit (USD)

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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	73	88	23	39	8	22	22	151	254	143	35
ST Debt	- -	25	- -	- -	- -	- -	- -	132	224	114	- -
LT Debt	73	63	23	39	8	22	22	19	30	30	35
Total Debt/EBITDA	81.17	87.64	15.78	27.58	5.42	14.31	13.48	89.16	129.21	73.49	18.89
Net Debt/EBITDA	63.88	60.46	-4.85	14.44	-11.6	-63.4	-170.97	38.31	54.24	-3.72	-92.77
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	3.42	3.03	2.98	3.12	3.4	3	3.16	3.82	4.43	5.29	6.31
Long-Term Debt/Equity (%)	77.1	68.37	25.31	35.52	6.55	16.48	12.24	14.08	17.85	15.95	12.15
Long-Term Debt/Capital (%)	72.23	54.57	44.65	53.72	16.05	30.89	24.82	8.16	8.1	10.73	17.08
Long-Term Debt/Total Assets (%)	8.9	6.94	2.41	3.62	0.65	1.34	1.04	0.85	1.19	1.18	1.3
Total Debt/Equity (%)	77.1	95.43	25.31	35.52	6.55	16.48	12.24	109.27	153.6	77.13	12.15
Total Debt/Capital (%)	72.23	76.17	44.65	53.72	16.05	30.89	24.82	63.31	69.74	51.87	17.08
Total Debt/Total Assets (%)	8.9	9.69	2.41	3.62	0.65	1.34	1.04	6.6	10.22	5.7	1.3
Net Debt to Equity	60.68	65.84	-7.78	18.59	-14.02	-73.04	-155.22	46.96	64.48	-3.9	-59.67
Net Debt/Capital (%)	67.19	68.8	-32.99	37.79	-69.16	202.02	131.38	42.58	49.18	-5.77	8,935.07
EBITDA	1	1	1	1	1	2	2	2	2	2	2
EBITDA-CapEx	- -	1	- -	- -	- -	1	- -	- -	-2	- -	-1
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2015 Y	2016 Y	2017 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	3.42	3.03	2.98	3.12	3.4	3	3.16	3.82	4.43	5.29	6.31
Long-Term Debt/Equity (%)	77.1	68.37	25.31	35.52	6.55	16.48	12.24	14.08	17.85	15.95	12.15
Long-Term Debt/Capital (%)	72.23	54.57	44.65	53.72	16.05	30.89	24.82	8.16	8.1	10.73	17.08
Long-Term Debt/Total Assets (%)	8.9	6.94	2.41	3.62	0.65	1.34	1.04	0.85	1.19	1.18	1.3
Total Debt/Equity (%)	77.1	95.43	25.31	35.52	6.55	16.48	12.24	109.27	153.6	77.13	12.15
Total Debt/Capital (%)	72.23	76.17	44.65	53.72	16.05	30.89	24.82	63.31	69.74	51.87	17.08
Total Debt/Total Assets (%)	8.9	9.69	2.41	3.62	0.65	1.34	1.04	6.6	10.22	5.7	1.3
CFO/Total Liabilities	0.96	1.15	0.97	1.25	1.24	0.74	1.04	1.42	1.92	1.49	1.85
CFO/CapEx	5.79	18.64	5.42	8.35	7.41	16.39	10.37	19.73	12.58	20	17.43
Altman's Z-Score	0.16	0.15	0.16	0.15	0.16	0.12	0.14	0.16	0.19	0.2	0.22

Working Capital (USD)

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	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	- -	13.6	14.7	15.55	16.98	12.57	11.13	13.87	16.6	17.06	14.9
Days Sales Outstanding	- -	26.83	24.83	23.48	21.5	29.03	32.78	26.32	21.99	21.39	24.5
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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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	94	91	110	109	132	123	200	262	339	314	357
- Cash & Cash Equivalents	16	27	30	18	25	121	306	86	147	150	204
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	73	88	23	39	8	22	22	151	254	143	35
Enterprise Value	-153	-127	-195	-126	-140	-306	-549	-207	-44	163	29
Total Capital	101	116	52	72	50	72	90	238	364	276	202
Total Debt/Capital (%)	72.23	76.17	44.65	53.72	16.05	30.89	24.82	63.31	69.74	51.87	17.08
Total Debt / EV	-0.48	-0.69	-0.12	-0.3	-0.06	-0.07	-0.04	-0.73	-5.75	0.88	1.19
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.51	0.23
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	83.51	15.92
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	4.7	0.66
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	4.48	0.63
Diluted Market Cap	94	91	110	109	132	123	200	262	339	314	357
Diluted Enterprise Value	152	152	103	129	115	24	-84	327	446	307	187
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	14.39	2.33
TTM Sales	30	34	39	45	53	60	72	90	102	108	127
TTM EBITDA	1	1	1	1	1	2	2	2	2	2	2
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	7	9	8	12	14	11	20	30	44	35	44
TTM Free Cash Flow to Firm	8	10	10	13	16	12	22	32	48	36	46

Multiples (USD)

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	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	11.47	9.19	11.01	8.13	8.46	10.21	8.97	8.18	7.06	8.65	7.7
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-153	-127	-195	-126	-140	-306	-549	-207	-44	163	29
Low Price	10.63	11.38	11.5	12	13.25	11	13.63	16.16	13.44	20.5	20.97
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.51	0.23
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	83.51	15.92
Price/Earnings	- -	25.02	46.65	14.42	11.48	10.52	9.38	10.75	11.5	11.27	8.58
Price/Earnings Average	-571.9	25.18	40.69	15.41	10.78	9.86	7.78	9.27	8.44	10.56	7.7
Price/Earnings High	-672.72	27.43	46.65	29.81	12.11	11.95	9.74	11.08	12.23	13.4	9.09
Price/Earnings Low	-520.08	24.48	38.29	12.82	10.35	8.49	6.36	7.46	5.13	8.31	6.3
Price/Book Value	3.35	3.3	3.83	3.28	3.15	2.46	2.95	2.99	3.08	2.37	2.13
Price/Book Value Average	3.25	3.32	3.34	3.5	2.96	2.3	2.44	2.58	2.26	2.22	1.91
Price/Book Value High	3.82	3.62	3.83	6.78	3.32	2.79	3.06	3.08	3.27	2.81	2.26
Price/Book Value Low	2.96	3.23	3.14	2.91	2.84	1.99	2	2.08	1.37	1.75	1.56
Price/Tangible Book Value	1.09	1.08	1.32	1.08	1.15	0.96	1.14	1.99	2.13	1.75	1.28
Price/Tangible Book Value Average	1.06	1.09	1.15	1.16	1.08	0.9	0.94	1.72	1.57	1.64	1.15
Price/Tangible Book Value High	1.25	1.19	1.32	2.24	1.21	1.09	1.18	2.05	2.27	2.08	1.36
Price/Tangible Book Value Low	0.97	1.06	1.08	0.96	1.04	0.77	0.77	1.38	0.95	1.29	0.94
Price/Sales	3.2	2.65	2.78	2.42	2.5	2.06	2.77	2.91	3.33	2.92	2.81
Price/Sales Average	3.1	2.66	2.42	2.58	2.35	1.93	2.3	2.51	2.45	2.74	2.52
Price/Sales High	3.64	2.9	2.78	4.99	2.64	2.34	2.88	3	3.54	3.47	2.98
Price/Sales Low	2.82	2.59	2.28	2.15	2.25	1.66	1.88	2.02	1.49	2.15	2.06
Price/Cash Flow	13.46	9.69	13.04	9.11	9.6	10.83	9.83	8.59	7.62	9.08	8.14
Price/Cash Flow Average	13.04	9.75	11.37	9.73	9.01	10.15	8.15	7.41	5.59	8.51	7.3
Price/Cash Flow High	15.34	10.62	13.04	18.82	10.12	12.3	10.2	8.85	8.1	10.8	8.63
Price/Cash Flow Low	11.86	9.48	10.7	8.09	8.65	8.74	6.67	5.96	3.4	6.7	5.98
Price/Free Cash Flow Average	11.12	9.25	9.6	8.69	7.94	9.56	7.43	7.05	5.18	8.11	6.91
Price/Free Cash Flow High	13.08	10.08	11.01	16.81	8.92	11.6	9.3	8.43	7.5	10.28	8.16
Price/Free Cash Flow Low	10.11	9	9.04	7.23	7.62	8.24	6.08	5.67	3.15	6.38	5.66
EV/Sales Average	5.05	4.43	2.24	3.03	2.02	0.27	- -	3.23	3.5	2.67	1.18
EV/Sales High	5.59	4.67	2.6	5.44	2.31	0.68	- -	3.72	4.59	3.4	1.64
EV/Sales Low	4.77	4.36	2.1	2.6	1.93	- -	- -	2.74	2.54	2.09	0.73
EV/EBITDA Average	165.33	151.49	60.44	97.69	72.32	10.38	-71.18	171.68	180.82	147.55	82.34
EV/EBITDA High	183.21	159.64	70.01	175.48	82.65	26.07	-46.09	197.7	237.55	188.21	114.12
EV/EBITDA Low	156.14	148.98	56.6	83.7	68.96	0.18	-89.37	145.63	131.2	115.29	50.65
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	12.06	11.63	14.01	13.5	14.7	13.63	20.1	23.29	30.12	27.79	28.55
High Price	13.75	12.75	14.01	27.9	15.5	15.48	20.86	24	32.01	33.06	30.25
Enterprise Value Average	149	152	89	137	107	16	-118	291	356	287	151
Enterprise Value High	165	161	103	245	122	41	-77	335	467	366	209
Enterprise Value Low	141	150	83	117	102	- -	-148	247	258	224	93

	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	9	9	9	9	9	9	11	11	11	11	13
Diluted Weighted Avg Shares	8	8	8	8	9	9	10	11	11	11	13
Basic Weighted Avg Shares	8	8	8	8	9	9	10	11	11	11	13
Revenue per Share	3.77	4.39	5.05	5.59	5.88	6.62	7.25	7.99	9.03	9.52	10.16
EBITDA per Share	0.12	0.13	0.19	0.17	0.16	0.17	0.17	0.15	0.17	0.17	0.15
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	-0.02	0.46	0.3	0.94	1.28	1.3	2.14	2.17	2.62	2.47	3.33
Basic EPS from Cont Ops	-0.02	0.46	0.3	0.94	1.28	1.3	2.14	2.17	2.62	2.47	3.33
Diluted EPS, GAAP	-0.02	0.46	0.3	0.94	1.28	1.3	2.14	2.17	2.62	2.47	3.33
Diluted EPS from Cont Ops	-0.02	0.46	0.3	0.94	1.28	1.3	2.14	2.17	2.62	2.47	3.33
Dividend per Share	0.41	0.41	0.41	0.4	0.4	0.4	0.41	0.42	0.46	0.47	0.57
Cash Flow per Share	0.9	1.2	1.07	1.48	1.53	1.26	2.04	2.71	3.95	3.06	3.51
Free Cash Flow per Basic Share	0.74	1.14	0.88	1.31	1.32	1.18	1.85	2.57	3.64	2.91	3.3
Cash & Equivalents per Share	40.93	39.18	41.89	33.94	31.22	50.05	77.58	55.1	56.61	26.06	28.98
Book Value per Share	3.6	3.53	3.66	4.12	4.67	5.54	6.82	7.78	9.79	11.75	13.41
Tangible Book Value per Share	11.01	10.72	10.62	12.47	12.76	14.21	17.69	11.69	14.11	15.87	22.26

Orange County Bancorp, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)