OneWater Marine Inc. Financial Ratios — ONEW Stock

Profitability (USD)

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	09/30/2017	09/30/2018	09/30/2019	09/30/2020	09/30/2021	09/30/2022	09/30/2023	09/30/2024	09/30/2025

Return on Common Equity (%)	- -	-34.91	326.37	206.13	171.85	93.49	-20.83	-3.51	-111.84
Return on Assets (%)	- -	0.35	8.1	3.62	13.41	11.81	-2.42	-0.35	-7.65
Return on Capital (%)	- -	4.34	18.95	0.68	13.46	16.18	- -	- -	- -
Return on Invested Capital (%)	- -	23.77	18.81	21.47	25.89	19.76	- -	- -	- -
Gross Margin (%)	21.89	22.84	22.42	23.02	29.1	31.73	27.64	24.54	22.81
EBITDA Margin (%)	5.2	7.69	7.25	8.99	12.9	14.46	9.94	5.93	4.62
Operating Margin (%)	4.93	7.41	6.9	8.67	12.46	13.52	8.56	4.68	3.32
Incremental Operating Margin (%)	- -	12.01	5.02	14	31.33	16.05	-36.68	50.54	-20.94
Pretax Margin (%)	-1.09	0.32	4.85	5.36	11.58	11.22	-2.2	-0.36	-8.09
Profit Margin (%)	-1.09	0.19	4.65	1.7	6.44	7.5	-1.99	-0.32	-6.12
Net Income to Common Margin (%)	-2.84	-1.22	3.39	1.7	6.44	7.5	-1.99	-0.32	-6.12
Effective Tax Rate (%)	- -	- -	- -	11.54	18.14	22.07	- -	- -	- -
Dvd Payout Ratio (%)	-363.2	91.61	16.55	137.45	20.86	5.44	-9.09	-81.47	-0.23
Sustainable Growth Rate (%)	- -	-2.93	272.35	-77.2	136	88.4	-22.72	-6.36	-112.1

Credit (USD)

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	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	09/30/2017	09/30/2018	09/30/2019	09/30/2020	09/30/2021	09/30/2022	09/30/2023	09/30/2024	09/30/2025

Total Debt	125	199	301	213	319	835	1,085	1,008	964
ST Debt	100	159	237	131	135	302	533	467	514
LT Debt	25	40	65	82	184	533	552	541	450
Total Debt/EBITDA	6.15	4.3	5.42	2.32	2.01	3.31	5.63	9.58	11.14
Net Debt/EBITDA	5.68	3.97	5.22	1.6	1.05	2.65	4.48	8.08	9.01
Total Debt/EBIT	6.49	4.46	5.69	2.41	2.08	3.54	6.55	12.15	15.53
Net Debt/EBIT	5.99	4.12	5.48	1.66	1.09	2.83	5.2	10.24	12.55
EBITDA to Interest Expense	4.11	4.95	3.48	5.2	22.92	14.13	3.23	1.48	1.34
EBITDA-CapEx/Interest Expense	3.28	3.87	3.03	4.84	21.49	13.26	2.82	1.1	1.14
EBIT to Interest Expense	3.9	4.77	3.32	5.01	22.14	13.22	2.78	1.17	0.96
Interest Expense	5	9	16	18	7	18	60	71	65
Common Equity/Total Assets	10.18	4.25	- -	3.69	10.42	13.69	9.8	10.05	3.21
Long-Term Debt/Equity (%)	90.33	189.75	170.64	47.31	72.02	119.87	133.25	138.43	157.98
Long-Term Debt/Capital (%)	11.27	18.13	21.07	29.2	43.41	48.5	42.26	45.17	44.59
Long-Term Debt/Total Assets (%)	9.82	10.64	12.84	17.9	25.47	35.61	32.66	34.02	32.07
Total Debt/Equity (%)	446.03	946.65	793.52	123.17	125.09	187.7	261.95	257.94	338.43
Total Debt/Capital (%)	55.66	90.45	97.98	76.02	75.4	75.94	83.07	84.16	95.53
Total Debt/Total Assets (%)	48.47	53.1	59.69	46.59	44.24	55.76	64.21	63.39	68.7
Net Debt to Equity	411.61	873.77	764.26	85.03	65.36	150.12	208.21	217.36	273.59
Net Debt/Capital (%)	53.67	89.73	97.91	68.63	46.24	63.15	70.6	71.93	81.44
EBITDA	20	46	56	92	158	252	192	105	87
EBITDA-CapEx	16	36	48	86	149	237	168	78	74
Operating Income (Loss)	19	45	53	89	153	236	166	83	62

Liquidity (USD)

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	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	09/30/2017	09/30/2018	09/30/2019	09/30/2020	09/30/2021	09/30/2022	09/30/2023	09/30/2024	09/30/2025

Cash Ratio	0.09	0.09	0.04	0.36	0.28	0.09	0.13	0.03	0.08
Current Ratio	1.17	1.18	1.19	1.36	1.23	1.25	1.32	1.28	1.14
Quick Ratio	0.14	0.15	0.1	0.46	0.4	0.22	0.3	0.15	0.18
CFO/Avg Current Liab	- -	-0.03	-0.03	0.95	0.77	0.02	-0.23	0.05	0.15
Common Equity/Total Assets	10.18	4.25	- -	3.69	10.42	13.69	9.8	10.05	3.21
Long-Term Debt/Equity (%)	90.33	189.75	170.64	47.31	72.02	119.87	133.25	138.43	157.98
Long-Term Debt/Capital (%)	11.27	18.13	21.07	29.2	43.41	48.5	42.26	45.17	44.59
Long-Term Debt/Total Assets (%)	9.82	10.64	12.84	17.9	25.47	35.61	32.66	34.02	32.07
Total Debt/Equity (%)	446.03	946.65	793.52	123.17	125.09	187.7	261.95	257.94	338.43
Total Debt/Capital (%)	55.66	90.45	97.98	76.02	75.4	75.94	83.07	84.16	95.53
Total Debt/Total Assets (%)	48.47	53.1	59.69	46.59	44.24	55.76	64.21	63.39	68.7
CFO/Total Liabilities	2.83	-1.2	-1.23	74.61	34.23	0.71	-10.18	2.91	8.2
CFO/CapEx	1.58	-0.42	-0.79	33.68	16.11	0.48	-5.39	1.3	7.21
Altman's Z-Score	3.37	3.41	3.04	5.27	4.65	3.87	2.78	2.53	2.35

Working Capital (USD)

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	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	09/30/2017	09/30/2018	09/30/2019	09/30/2020	09/30/2021	09/30/2022	09/30/2023	09/30/2024	09/30/2025

Accounts Receivable Turnover	- -	218.98	303.23	797.02	345.68	80.33	55.78	54.84	60.18
Days Sales Outstanding	- -	1.67	1.2	0.46	1.06	4.54	6.54	6.66	6.06
Inventory Turnover	- -	3.1	2.58	3.68	5.92	4.61	2.85	2.23	2.56
Days Inventory Outstanding	- -	117.59	141.5	99.07	61.62	79.19	127.98	163.79	142.77
Accounts Payable Turnover	- -	88.14	115.85	72.05	55.96	62.54	60.19	44.54	36.76
Accounts Payable Turnover Days	- -	4.14	3.15	5.07	6.52	5.84	6.06	8.19	9.93
Cash Conversion Cycle	- -	115.12	139.55	94.46	56.15	77.89	128.46	162.25	138.9
Inventory to Cash Days	- -	-115.92	-140.29	-98.61	-60.56	-74.64	-121.43	-157.14	-136.7
Inventories	115	184	277	150	144	373	610	591	540
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	5	7	9	9	15	78	77	69	70
Finished Goods	111	178	268	141	129	295	533	522	470
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	09/30/2017	09/30/2018	09/30/2019	09/30/2020	09/30/2021	09/30/2022	09/30/2023	09/30/2024	09/30/2025

Market Capitalization	- -	- -	- -	128	446	418	367	349	251
- Cash & Cash Equivalents	10	15	11	66	63	42	85	17	52
+ Preferred Equity and Hybrid Capital	72	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	2	5	6	50	29	60	55	30	- -
+ Total Debt	125	199	301	213	319	835	1,085	1,008	964
Enterprise Value	189	189	296	326	731	1,270	1,423	1,370	1,164
Total Capital	225	220	307	281	423	1,100	1,306	1,198	1,009
Total Debt/Capital (%)	55.66	90.45	97.98	76.02	75.4	75.94	83.07	84.16	95.53
Total Debt / EV	0.66	1.05	1.02	0.66	0.44	0.66	0.76	0.74	0.83
EV/Sales	0.48	0.31	0.39	0.32	0.6	0.73	0.73	0.77	0.62
EV/EBITDA	9.29	4.08	5.33	3.54	4.61	5.04	7.39	13.02	13.44
EV/EBIT	9.8	4.23	5.6	3.67	4.78	5.38	8.59	16.51	18.74
EV/Cash Flow to Firm	16.48	36.93	28.95	1.43	4.43	59.49	- -	13.14	8.23
EV/Free Cash Flow to Firm	12.13	12.39	16.91	1.39	4.18	34.33	- -	10.45	7.55
Diluted Market Cap	- -	- -	- -	129	457	432	367	349	251
Diluted Enterprise Value	189	189	296	327	742	1,284	1,423	1,370	1,164
EV per Share	35.03	35.04	81.27	52.17	65.92	91.54	99.29	93.91	73.32
TTM Sales	391	603	768	1,023	1,228	1,745	1,936	1,773	1,872
TTM EBITDA	20	46	56	92	158	252	192	105	87
TTM Operating Income	19	45	53	89	153	236	166	83	62
TTM Cash Flow to Firm	11	5	10	228	165	21	-75	104	141
TTM Free Cash Flow to Firm	16	15	18	234	175	37	-51	131	154

Multiples (USD)

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	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	09/30/2017	09/30/2018	09/30/2019	09/30/2020	09/30/2021	09/30/2022	09/30/2023	09/30/2024	09/30/2025

Price/Free Cash Flow	- -	- -	- -	0.59	2.7	18.69	-3.47	5.66	2.41
EV/EBIT	9.8	4.23	5.6	3.67	4.78	5.38	8.59	16.51	18.74
Enterprise Value	189	189	296	326	731	1,270	1,423	1,370	1,164
Low Price	- -	- -	- -	3.41	18.01	29.86	23.68	20	11.58
EV/Sales	0.48	0.31	0.39	0.32	0.6	0.73	0.73	0.77	0.62
EV/EBITDA	9.29	4.08	5.33	3.54	4.61	5.04	7.39	13.02	13.44
Price/Earnings	- -	- -	- -	7.34	5.64	3.19	- -	- -	- -
Price/Earnings Average	- -	- -	- -	6.42	5.21	4.43	-11.06	-66.24	-2.37
Price/Earnings High	- -	- -	- -	12.04	7.96	6.65	-14.54	-91.68	-3.71
Price/Earnings Low	- -	- -	- -	1.22	2.53	3.16	-8.79	-51.13	-1.6
Price/Book Value	- -	- -	- -	7.57	5.94	2.04	2.22	2.18	5.57
Price/Book Value Average	- -	- -	- -	6.62	5.48	2.83	2.58	2.36	6.03
Price/Book Value High	- -	- -	- -	12.41	8.38	4.25	3.39	3.27	9.42
Price/Book Value Low	- -	- -	- -	1.26	2.66	2.02	2.05	1.83	4.07
Price/Tangible Book Value	- -	- -	- -	-118.88	425.39	-1.74	-2.72	-2.31	-2.41
Price/Tangible Book Value Average	- -	- -	- -	-103.97	392.87	-2.41	-3.17	-2.5	-2.61
Price/Tangible Book Value High	- -	- -	- -	-194.95	600.63	-3.63	-4.16	-3.46	-4.08
Price/Tangible Book Value Low	- -	- -	- -	-19.78	190.53	-1.73	-2.52	-1.93	-1.76
Price/Sales	- -	- -	- -	0.13	0.36	0.24	0.19	0.2	0.13
Price/Sales Average	- -	- -	- -	0.11	0.34	0.33	0.22	0.21	0.15
Price/Sales High	- -	- -	- -	0.21	0.51	0.5	0.29	0.3	0.23
Price/Sales Low	- -	- -	- -	0.02	0.16	0.24	0.18	0.16	0.1
Price/Cash Flow	- -	- -	- -	0.6	2.8	56.11	-2.83	10.01	2.74
Price/Cash Flow Average	- -	- -	- -	0.53	2.58	77.82	-3.29	10.85	2.96
Price/Cash Flow High	- -	- -	- -	0.99	3.95	117.01	-4.32	15.01	4.63
Price/Cash Flow Low	- -	- -	- -	0.1	1.25	55.64	-2.61	8.37	2
Price/Free Cash Flow Average	- -	- -	- -	0.51	2.49	25.92	-4.04	6.13	2.6
Price/Free Cash Flow High	- -	- -	- -	0.97	3.81	38.98	-5.31	8.48	4.07
Price/Free Cash Flow Low	- -	- -	- -	0.1	1.21	18.54	-3.21	4.73	1.76
EV/Sales Average	0.48	0.31	0.39	0.3	0.57	0.82	0.77	0.79	0.63
EV/Sales High	0.48	0.31	0.39	0.4	0.74	0.99	0.83	0.87	0.71
EV/Sales Low	0.48	0.31	0.39	0.21	0.39	0.73	0.72	0.74	0.59
EV/EBITDA Average	9.29	4.08	5.33	3.37	4.4	5.68	7.7	13.3	13.68
EV/EBITDA High	9.29	4.08	5.33	4.43	5.77	6.83	8.4	14.68	15.45
EV/EBITDA Low	9.29	4.08	5.33	2.38	3.06	5.02	7.25	12.48	12.66
EV/EBIT Average	9.8	4.23	5.6	3.49	4.55	6.07	8.95	16.86	19.07
EV/EBIT High	9.8	4.23	5.6	4.59	5.98	7.31	9.75	18.61	21.53
EV/EBIT Low	9.8	4.23	5.6	2.47	3.17	5.37	8.42	15.82	17.65
Last Price	- -	- -	- -	20.49	40.21	30.11	25.62	23.91	15.84
High Price	- -	- -	- -	33.6	56.78	62.79	39.15	35.86	26.78
Enterprise Value Average	189	189	296	310	697	1,432	1,482	1,399	1,184
Enterprise Value High	189	189	296	408	915	1,724	1,616	1,544	1,337
Enterprise Value Low	189	189	296	219	485	1,267	1,395	1,313	1,096

Shares Outstanding	4	4	4	10	13	14	14	15	16
Diluted Weighted Avg Shares	5	5	4	6	11	14	14	15	16
Basic Weighted Avg Shares	5	5	4	6	11	14	14	15	16
Revenue per Share	72.56	111.72	210.5	163.86	110.78	125.73	135.14	121.54	117.99
EBITDA per Share	3.77	8.59	15.25	14.73	14.29	18.18	13.43	7.21	5.45
Operating Income per Share	3.58	8.28	14.52	14.21	13.8	17	11.57	5.69	3.91
Basic EPS, GAAP	-2.06	-1.37	7.14	2.79	7.13	9.44	-2.69	-0.39	-7.22
Basic EPS from Cont Ops	-0.79	0.36	10.22	7.77	10.5	11	-2.73	-0.42	-7.32
Diluted EPS, GAAP	-2.06	-1.37	7.14	2.77	6.96	9.13	-2.69	-0.39	-7.22
Diluted EPS from Cont Ops	-0.79	0.36	10.22	7.72	10.25	10.64	-2.73	-0.42	-7.32
Dividend per Share	8.75	0.6	3.96	17.52	2.89	0.68	0.25	0.37	0.02
Cash Flow per Share	1.21	-0.79	-1.57	34.03	14.38	0.54	-9.06	2.39	5.78
Free Cash Flow per Basic Share	0.45	-2.67	-3.57	33.02	13.49	-0.59	-10.74	0.55	4.98
Cash & Equivalents per Share	1.79	2.84	3.05	10.59	5.65	3.03	5.91	1.16	3.29
Book Value per Share	4.88	2.96	- -	2.71	6.77	14.78	11.56	10.96	2.84
Tangible Book Value per Share	-29.7	-22.77	-37.4	-0.17	0.09	-17.31	-9.41	-10.37	-6.57

OneWater Marine Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)