Perry Ellis International, Inc. Financial Ratios — PERY

Profitability (USD)

	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y
Return on Common Equity (%)	16.68	21.86	19.27	15.97	17.01	-7.44	7.59	12.55	11.77	6.45	-10.46	-19.79	-4.4	8.58	27.66
Return on Assets (%)	3.24	4.21	4.18	3.85	4.78	-2.17	2.27	3.87	3.62	1.99	-3.1	-5.34	-1.12	2.39	9.23
Return on Capital (%)	4.24	5.99	6.08	5.6	7.26	- -	7.19	8.49	8.45	6.02	- -	-27.06	- -	7.5	- -
Return on Invested Capital (%)	8.08	7.33	8.21	7.98	8.63	- -	6.12	7.17	7.54	5.06	- -	-19.63	- -	5.75	- -
Gross Margin (%)	33.5	31.69	30.91	33.23	33.76	32.69	33.03	35.74	33.01	32.72	33.19	34.05	35.47	36.99	37.74
EBITDA Margin (%)	9.93	8.41	7.99	8.61	8.83	2.29	6.43	7.88	7.64	5.55	3.36	3.93	4.87	4.52	6.38
Operating Margin (%)	8.85	7.34	6.8	7.15	7.23	0.51	4.66	6.36	6.27	4.11	1.91	2.47	3.28	2.78	4.71
Incremental Operating Margin (%)	5.69	2.27	4.93	-8.09	9.34	462.69	-31.71	41.88	5.9	195.58	39.1	-20.57	78.47	14.48	125.59
Pretax Margin (%)	4.16	5.12	4.21	4.25	5.2	-1.87	2.27	4.54	3.87	2.22	-3.77	0.97	-0.86	1.73	3.85
Profit Margin (%)	2.6	3.19	2.67	2.7	3.26	-1.51	1.75	3.05	2.6	1.53	-2.5	-4.18	-0.81	1.69	6.48
Net Income to Common Margin (%)	2.6	3.19	2.67	2.7	3.26	-1.51	1.75	3.05	2.6	1.53	-2.5	-4.18	-0.81	1.69	6.48
Effective Tax Rate (%)	36.54	36.29	35.31	34.95	35.16	- -	21.1	31.73	32.81	31.19	- -	531.41	- -	2.61	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	101.29	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	16.68	21.86	19.27	15.97	17.01	-7.44	7.59	12.55	11.77	-0.08	-10.46	-19.79	-4.4	8.58	27.66

Credit (USD)

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	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y
Total Debt	257	233	259	237	176	229	155	229	197	175	182	173	134	107	95
ST Debt	- -	- -	- -	- -	1	- -	11	1	1	1	1	1	1	1	1
LT Debt	257	233	259	237	175	229	144	228	197	174	181	172	133	106	94
Total Debt/EBITDA	5.12	4.22	3.82	3.32	2.31	11.77	3.19	3.68	2.64	3.25	5.93	4.95	3.05	2.74	1.69
Net Debt/EBITDA	5.1	4.12	3.67	3.26	2.13	11.32	2.81	3.38	2.31	2.23	5.05	3.7	2.33	1.95	1.06
Total Debt/EBIT	5.74	4.83	4.49	4	2.81	52.91	4.4	4.56	3.21	4.39	10.42	7.85	4.54	4.45	2.29
Net Debt/EBIT	5.72	4.72	4.32	3.93	2.6	50.88	3.88	4.19	2.82	3.01	8.87	5.87	3.46	3.17	1.44
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	2.79	4.72	4.65	3.63	2.04	2.45	4.73	5.26	7.81
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	2.64	4.24	3.8	2.49	0.56	1.28	2.99	3.46	6.7
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	2.02	3.8	3.82	2.69	1.16	1.54	3.18	3.24	5.77
Interest Expense	- -	- -	- -	- -	- -	- -	17	13	16	15	15	14	9	7	7
Common Equity/Total Assets	17.78	20.66	22.64	25.54	30.65	27.82	32.07	29.77	31.71	30.04	29.21	24.71	26.02	29.78	36.76
Long-Term Debt/Equity (%)	169.41	118.85	117.08	95.19	63.33	90.64	53.16	75.38	53.7	46.92	52.08	56.99	45.66	33.72	24.82
Long-Term Debt/Capital (%)	74.87	68.34	66.38	60.56	48.86	57.25	42.45	52.73	46.08	43.1	46.62	50.3	44.98	37.36	28.59
Long-Term Debt/Total Assets (%)	53.53	45.23	45.44	39.96	29.9	38.11	25.58	33.3	27.17	22.83	25.61	25.13	21.38	17.84	14.77
Total Debt/Equity (%)	169.41	118.92	117.18	95.38	63.52	90.84	57.24	75.58	53.88	47.14	52.31	57.25	45.94	33.99	25.05
Total Debt/Capital (%)	74.87	68.38	66.44	60.68	49	57.37	45.71	52.87	46.23	43.29	46.83	50.53	45.26	37.66	28.86
Total Debt/Total Assets (%)	53.53	45.25	45.48	40.04	29.99	38.19	27.54	33.39	27.27	22.93	25.72	25.24	21.51	17.99	14.92
Net Debt to Equity	168.74	116.17	112.72	93.57	58.69	87.34	50.47	69.46	47.3	32.34	44.55	42.83	34.99	24.21	15.72
Net Debt/Capital (%)	74.79	67.87	65.5	60.22	47.03	56.41	42.61	50.76	43.02	34.37	42.85	43.32	38.64	30.08	20.3
EBITDA	50	55	68	71	76	19	49	62	75	54	31	35	44	39	56
EBITDA-CapEx	42	41	53	-6	57	9	46	56	61	37	8	18	28	26	48
Operating Income (Loss)	45	48	58	59	62	4	35	50	61	40	17	22	30	24	41

Liquidity (USD)

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	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y
Cash Ratio	0.02	0.08	0.12	0.08	0.16	0.11	0.17	0.16	0.22	0.32	0.29	0.4	0.28	0.35	0.35
Current Ratio	4.46	3.95	4	3.7	3.44	3.97	2.75	3.22	3.59	2.62	2.9	2.51	2.48	2.89	2.78
Quick Ratio	2.09	1.99	2.13	1.94	1.71	1.87	1.47	1.31	1.52	1.35	1.29	1.27	1.17	1.54	1.47
CFO/Avg Current Liab	-0.28	0.37	1.11	0.39	1.05	-0.06	0.94	0.19	0.01	0.55	- -	0.36	0.2	0.32	0.23
Common Equity/Total Assets	17.78	20.66	22.64	25.54	30.65	27.82	32.07	29.77	31.71	30.04	29.21	24.71	26.02	29.78	36.76
Long-Term Debt/Equity (%)	169.41	118.85	117.08	95.19	63.33	90.64	53.16	75.38	53.7	46.92	52.08	56.99	45.66	33.72	24.82
Long-Term Debt/Capital (%)	74.87	68.34	66.38	60.56	48.86	57.25	42.45	52.73	46.08	43.1	46.62	50.3	44.98	37.36	28.59
Long-Term Debt/Total Assets (%)	53.53	45.23	45.44	39.96	29.9	38.11	25.58	33.3	27.17	22.83	25.61	25.13	21.38	17.84	14.77
Total Debt/Equity (%)	169.41	118.92	117.18	95.38	63.52	90.84	57.24	75.58	53.88	47.14	52.31	57.25	45.94	33.99	25.05
Total Debt/Capital (%)	74.87	68.38	66.44	60.68	49	57.37	45.71	52.87	46.23	43.29	46.83	50.53	45.26	37.66	28.86
Total Debt/Total Assets (%)	53.53	45.25	45.48	40.04	29.99	38.19	27.54	33.39	27.27	22.93	25.72	25.24	21.51	17.99	14.92
CFO/Total Liabilities	-3.44	7.36	23.22	9.18	29.5	-1.43	30.49	5.49	0.2	19.64	0.06	14.4	9.11	15.16	11.76
CFO/CapEx	-1.3	1.68	5.6	0.41	4.82	-0.47	32.48	3.37	0.05	4.57	0.01	3.3	1.87	3.19	3.8
Altman's Z-Score	3.36	3.77	4.18	4.5	4.5	3.58	4.13	4.2	4.33	3.92	3.65	3.73	3.94	4.34	4.5

Working Capital (USD)

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	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y
Accounts Receivable Turnover	5.18	5.24	5.91	5.35	5.85	6.06	5.33	5.87	7.13	6.06	5.69	6.27	6.87	6.51	5.89
Days Sales Outstanding	70.4	69.65	61.76	68.16	62.43	60.23	68.43	62.23	51.2	60.24	64.19	58.2	53.12	56.09	61.98
Inventory Turnover	4.15	3.97	4.86	4.16	4.14	4.16	4.02	3.5	3.49	3.42	3.13	3.01	3.17	3.25	3.33
Days Inventory Outstanding	88	92.05	75.17	87.65	88.06	87.74	90.83	104.41	104.6	106.7	116.71	121.36	115.23	112.34	109.47
Accounts Payable Turnover	17.81	11.45	12.05	11.81	11.81	11.76	8.62	8.25	8.78	6	5.18	4.9	5.23	5.2	5.94
Accounts Payable Turnover Days	20.49	31.89	30.29	30.9	30.9	31.02	42.36	44.24	41.56	60.8	70.49	74.49	69.75	70.18	61.49
Cash Conversion Cycle	137.91	129.82	106.64	124.92	119.59	116.95	116.9	122.39	114.24	106.14	110.41	105.08	98.6	98.26	109.95
Inventory to Cash Days	-17.59	-22.4	-13.41	-19.49	-25.63	-27.51	-22.4	-42.18	-53.4	-46.45	-52.51	-63.16	-62.1	-56.25	-47.49
Inventories	111	115	126	140	136	139	112	178	198	183	207	184	183	151	175
Raw Materials	4	2	2	4	2	4	2	2	3	1	1	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	106	113	124	136	135	135	110	176	195	182	206	183	182	151	175
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y
Market Capitalization	163	183	185	416	245	53	194	352	221	284	235	355	285	352	362
- Cash & Cash Equivalents	1	5	9	5	13	9	18	19	24	55	27	44	32	31	35
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	1	1	2	2	3	3	4	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	257	233	259	237	176	229	155	229	197	175	182	173	134	107	95
Enterprise Value	420	412	436	649	410	276	334	562	394	404	374	465	377	417	407
Total Capital	343	341	390	391	359	399	338	433	427	404	388	342	296	283	328
Total Debt/Capital (%)	74.87	68.38	66.44	60.68	49	57.37	45.71	52.87	46.23	43.29	46.83	50.53	45.26	37.66	28.86
Total Debt / EV	0.61	0.56	0.59	0.37	0.43	0.83	0.46	0.41	0.5	0.43	0.49	0.37	0.36	0.26	0.23
EV/Sales	0.83	0.63	0.51	0.78	0.47	0.32	0.44	0.71	0.4	0.42	0.41	0.52	0.42	0.48	0.47
EV/EBITDA	8.36	7.47	6.43	9.08	5.38	14.2	6.89	9.03	5.27	7.51	12.21	13.29	8.6	10.73	7.29
EV/EBIT	9.38	8.56	7.56	10.94	6.56	63.83	9.51	11.19	6.42	10.14	21.45	21.09	12.77	17.43	9.87
EV/Cash Flow to Firm	- -	17.57	5.39	20.53	4.49	- -	3.26	18.73	34.2	4.63	36.8	- -	9.68	8.43	9.65
EV/Free Cash Flow to Firm	- -	11.02	4.57	5.96	3.72	49.38	3.17	15.51	15.65	3.88	11.55	45.45	6.84	6.65	8.12
Diluted Market Cap	176	196	194	443	262	53	199	380	236	296	235	355	285	359	369
Diluted Enterprise Value	433	425	446	679	428	276	339	590	410	416	390	485	387	435	428
EV per Share	36.44	30.14	30.5	44.73	27.94	19.16	26.3	42.88	26.42	27.46	24.97	31.27	25.17	27.94	26.98
TTM Sales	506	657	849	830	864	851	754	790	981	970	912	890	900	861	875
TTM EBITDA	50	55	68	71	76	19	49	62	75	54	31	35	44	39	56
TTM Operating Income	45	48	58	59	62	4	35	50	61	40	17	22	30	24	41
TTM Cash Flow to Firm	-11	23	81	32	91	-5	103	30	12	87	10	-7	39	49	42
TTM Free Cash Flow to Firm	-3	37	95	109	110	6	105	36	25	104	32	10	55	63	50

Multiples (USD)

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	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y
Price/Free Cash Flow	-66.62	5.23	2.04	4.07	2.38	9.43	2.17	13.94	16.43	3.15	10.46	4.94	6.14	6.46	9.68
EV/EBIT	9.38	8.56	7.56	10.94	6.56	63.83	9.51	11.19	6.42	10.14	21.45	21.09	12.77	17.43	9.87
Enterprise Value	420	412	436	649	410	276	334	562	394	404	374	465	377	417	407
Low Price	11.56	18.2	18.5	20.2	12.83	3.4	3.31	14.31	12.22	15.32	14.14	12.37	16.47	15.73	16.35
EV/Sales	0.83	0.63	0.51	0.78	0.47	0.32	0.44	0.71	0.4	0.42	0.41	0.52	0.42	0.48	0.47
EV/EBITDA	8.36	7.47	6.43	9.08	5.38	14.2	6.89	9.03	5.27	7.51	12.21	13.29	8.6	10.73	7.29
Price/Earnings	12.38	8.75	8.14	18.56	8.71	- -	14.74	14.59	8.66	19.19	- -	- -	- -	24.27	6.38
Price/Earnings Average	12.81	9.63	8.71	11.85	13.31	-17.43	9.33	11.89	12.68	18.58	-12.01	-7.62	-46.48	21.13	5.8
Price/Earnings High	26.07	19.55	16.7	27.66	18.35	-32.74	18.61	16.57	19.21	23.14	-14.6	-10.79	-57.86	29.84	6.95
Price/Earnings Low	10.13	11.88	11.66	13.07	6.68	-3.8	3.19	7.78	7.15	15.23	-9.3	-4.94	-33.81	16.18	4.35
Price/Book Value	1.91	1.72	1.43	2.75	1.37	0.32	1.08	1.72	0.96	1.24	1.14	2.1	1.76	2	1.55
Price/Book Value Average	1.97	1.9	1.53	1.75	2.09	1.35	0.68	1.4	1.41	1.2	1.33	1.67	2.09	1.74	1.41
Price/Book Value High	4.01	3.85	2.93	4.09	2.88	2.53	1.36	1.96	2.13	1.49	1.61	2.37	2.61	2.45	1.69
Price/Book Value Low	1.56	2.34	2.05	1.93	1.05	0.29	0.23	0.92	0.79	0.98	1.03	1.09	1.52	1.33	1.06
Price/Tangible Book Value	-348.59	5.23	4.84	7.38	2.92	1.04	2.78	8.73	2.01	2.56	1.81	4.14	2.75	2.78	1.89
Price/Tangible Book Value Average	-360.46	5.76	5.18	4.71	4.45	4.42	1.76	7.12	2.94	2.48	2.1	3.3	3.27	2.42	1.72
Price/Tangible Book Value High	-733.85	11.69	9.93	11	6.14	8.29	3.51	9.92	4.45	3.09	2.56	4.68	4.07	3.42	2.06
Price/Tangible Book Value Low	-285.15	7.1	6.94	5.2	2.24	0.96	0.6	4.66	1.66	2.04	1.63	2.14	2.38	1.86	1.29
Price/Sales	0.32	0.28	0.22	0.5	0.28	0.06	0.26	0.45	0.23	0.29	0.26	0.4	0.32	0.41	0.41
Price/Sales Average	0.33	0.31	0.23	0.32	0.43	0.26	0.16	0.36	0.33	0.28	0.3	0.32	0.38	0.36	0.38
Price/Sales High	0.68	0.62	0.45	0.75	0.6	0.5	0.32	0.51	0.5	0.35	0.36	0.45	0.47	0.5	0.45
Price/Sales Low	0.26	0.38	0.31	0.35	0.22	0.06	0.06	0.24	0.19	0.23	0.23	0.21	0.27	0.27	0.28
Price/Cash Flow	-14.4	7.82	2.28	13.17	2.69	-10.59	2.19	16.75	310.52	3.69	1,067.55	6.44	9.43	8.33	11.99
Price/Cash Flow Average	-14.89	8.6	2.44	8.41	4.11	-45.1	1.38	13.65	454.39	3.57	1,243.73	5.14	11.24	7.25	10.89
Price/Cash Flow High	-30.31	17.46	4.68	19.62	5.66	-84.7	2.76	19.02	688.49	4.45	1,511.74	7.27	13.99	10.24	13.04
Price/Cash Flow Low	-11.78	10.61	3.27	9.27	2.06	-9.84	0.47	8.93	256.19	2.93	963.32	3.33	8.17	5.56	8.17
Price/Free Cash Flow Average	-68.88	5.75	2.18	2.6	3.63	40.16	1.37	11.36	24.04	3.05	12.18	3.94	7.32	5.62	8.79
Price/Free Cash Flow High	-140.24	11.68	4.18	6.07	5	75.42	2.74	15.83	36.43	3.8	14.81	5.58	9.11	7.94	10.53
Price/Free Cash Flow Low	-54.49	7.1	2.92	2.87	1.82	8.76	0.47	7.43	13.56	2.5	9.43	2.56	5.32	4.31	6.6
EV/Sales Average	0.84	0.66	0.53	0.6	0.63	0.53	0.35	0.63	0.51	0.41	0.47	0.46	0.49	0.44	0.44
EV/Sales High	1.19	0.97	0.74	1.03	0.79	0.76	0.51	0.77	0.68	0.48	0.53	0.6	0.58	0.59	0.52
EV/Sales Low	0.77	0.73	0.61	0.64	0.41	0.32	0.24	0.5	0.36	0.36	0.4	0.35	0.39	0.36	0.35
EV/EBITDA Average	8.47	7.8	6.62	7.01	7.09	23.04	5.42	7.98	6.63	7.34	13.97	11.8	10.06	9.84	6.95
EV/EBITDA High	11.94	11.56	9.29	11.97	8.95	33.18	7.94	9.8	8.86	8.6	15.9	15.18	11.95	13.09	8.11
EV/EBITDA Low	7.77	8.65	7.6	7.39	4.64	14.01	3.75	6.39	4.75	6.42	11.96	8.96	7.95	8	5.48
EV/EBIT Average	9.5	8.94	7.78	8.45	8.65	103.55	7.48	9.9	8.09	9.91	24.56	18.73	14.94	15.98	9.41
EV/EBIT High	13.39	13.25	10.92	14.42	10.92	149.13	10.97	12.14	10.8	11.61	27.94	24.09	17.75	21.26	10.98
EV/EBIT Low	8.71	9.92	8.94	8.91	5.67	62.96	5.18	7.92	5.79	8.67	21.02	14.22	11.81	12.98	7.42
Last Price	14.13	13.41	12.91	28.68	16.73	3.66	15.28	26.83	14.81	19.3	15.67	23.91	19.01	23.59	23.98
High Price	29.75	29.95	26.48	42.74	35.22	29.27	19.3	30.48	32.84	23.28	22.19	27	28.19	29	26.09
Enterprise Value Average	425	431	449	501	541	448	263	497	497	395	428	413	441	383	388
Enterprise Value High	600	639	630	855	683	645	385	610	664	463	487	530	524	509	453
Enterprise Value Low	390	478	516	528	354	273	182	398	356	345	367	313	349	311	306

	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y
Shares Outstanding	13	14	14	15	15	16	16	17	16	15	16	15	15	16	16
Diluted Weighted Avg Shares	12	15	15	15	16	14	13	14	16	15	15	15	15	15	15
Basic Weighted Avg Shares	12	14	14	15	15	14	13	13	15	15	15	15	15	15	15
Revenue per Share	43.9	47.98	59.4	57.21	58.87	59.05	59.39	60.28	65.69	65.89	60.86	59.91	60.1	57.65	58
EBITDA per Share	4.36	4.04	4.75	4.93	5.2	1.35	3.82	4.75	5.02	3.66	2.05	2.35	2.93	2.6	3.7
Operating Income per Share	3.89	3.52	4.04	4.09	4.26	0.3	2.77	3.83	4.12	2.71	1.16	1.48	1.97	1.6	2.73
Basic EPS, GAAP	1.14	1.53	1.59	1.55	1.92	-0.89	1.04	1.84	1.71	1.01	-1.52	-2.5	-0.49	0.97	3.76
Basic EPS from Cont Ops	1.14	1.53	1.59	1.55	1.92	-0.89	1.06	1.87	1.71	1.01	-1.52	-2.5	-0.49	0.97	3.76
Diluted EPS, GAAP	1.06	1.44	1.51	1.45	1.8	-0.89	1.01	1.7	1.6	0.97	-1.52	-2.5	-0.49	0.95	3.68
Diluted EPS from Cont Ops	1.06	1.44	1.51	1.45	1.8	-0.89	1.04	1.73	1.6	0.97	-1.52	-2.5	-0.49	0.95	3.68
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.02	- -	- -	- -	- -	- -
Cash Flow per Share	-0.98	1.72	5.66	2.18	6.22	-0.35	6.99	1.6	0.05	5.23	0.01	3.71	2.02	2.83	2
Free Cash Flow per Basic Share	-1.73	0.69	4.65	-3.14	4.93	-1.08	6.78	1.13	-0.87	4.09	-1.47	2.59	0.94	1.94	1.47
Cash & Equivalents per Share	0.09	0.39	0.66	0.49	0.99	0.61	1.44	1.41	1.62	3.73	2.83	4.28	2.78	2.79	3.27
Book Value per Share	7.41	7.77	9.03	10.45	12.25	11.57	14.17	15.57	15.38	15.58	13.77	11.39	10.82	11.82	15.46
Tangible Book Value per Share	-0.04	2.56	2.67	3.88	5.74	3.53	5.5	3.07	7.37	7.53	8.68	5.78	6.92	8.48	12.69

Perry Ellis International, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)