Alpine Income Property Trust, Inc. Financial Ratios — PINE

Profitability (USD)

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	3.28	- -	0.75	6.16	12.97	1.14	0.82	-1.2
Return on Assets (%)	- -	3.18	- -	0.46	2.6	5.51	0.51	0.35	-0.4
Return on Capital (%)	- -	3.24	- -	1	3.11	6.43	2.13	2.3	- -
Return on Invested Capital (%)	- -	3.24	- -	1.1	1.44	1.95	1.24	2.15	- -
Gross Margin (%)	82.63	86.18	- -	74.7	77.25	79.5	76.04	76.96	79.55
EBITDA Margin (%)	70.85	74.12	- -	63.2	70.27	74.45	70.87	71.5	74.76
Operating Margin (%)	36.66	34.26	- -	12.07	18.21	23.03	15.35	23.48	30.54
Incremental Operating Margin (%)	- -	28.05	34.26	12.07	29.09	32.67	-751.21	79.9	74.88
Pretax Margin (%)	33.27	34.26	- -	5.95	38.05	75.14	7.16	4.32	-4.77
Profit Margin (%)	33.27	34.26	- -	5.12	33.07	65.77	6.39	3.96	-4.39
Net Income to Common Margin (%)	33.27	34.26	- -	5.12	33.07	65.77	6.39	3.96	-5.3
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	551.11	93.86	39.58	471.95	687.43	-484.01
Sustainable Growth Rate (%)	- -	3.28	- -	-3.36	0.38	7.84	-4.24	-4.82	-7.03

Credit (USD)

Credit Ratios API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	2	2	2	110	273	274	282	309	386
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	2	2	2	110	273	274	282	309	386
Total Debt/EBITDA	0.29	0.2	- -	9.05	12.91	8.14	8.72	8.29	8.53
Net Debt/EBITDA	- -	- -	- -	8.63	12.23	7.67	8.4	8.03	8.25
Total Debt/EBIT	0.57	0.43	- -	47.4	49.79	26.31	40.26	25.23	20.87
Net Debt/EBIT	- -	- -	- -	45.16	47.18	24.8	38.78	24.45	20.19
EBITDA to Interest Expense	20.93	- -	- -	9.53	6.34	3.76	3.42	3.31	2.93
EBITDA-CapEx/Interest Expense	20.93	- -	- -	9.53	6.34	3.76	3.42	3.31	2.93
EBIT to Interest Expense	10.83	- -	- -	1.82	1.64	1.16	0.74	1.09	1.19
Interest Expense	- -	- -	- -	1	3	9	9	11	15
Common Equity/Total Assets	95.56	98.13	83.77	48.34	38.88	45.62	44.41	41.82	39.09
Long-Term Debt/Equity (%)	1.46	1.38	1.19	73.85	119.88	92.7	102.33	111.93	128.06
Long-Term Debt/Capital (%)	1.44	1.36	1.17	42.48	54.52	48.11	50.58	52.81	56.15
Long-Term Debt/Total Assets (%)	1.4	1.35	1.16	41.99	54.05	47.75	49.96	51.15	53.89
Total Debt/Equity (%)	1.46	1.38	1.19	73.85	119.88	92.7	102.33	111.93	128.06
Total Debt/Capital (%)	1.44	1.36	1.17	42.48	54.52	48.11	50.58	52.81	56.15
Total Debt/Total Assets (%)	1.4	1.35	1.16	41.99	54.05	47.75	49.96	51.15	53.89
Net Debt to Equity	-0.01	-0.01	-7.68	70.37	113.6	87.38	98.57	108.46	123.86
Net Debt/Capital (%)	-0.01	-0.01	-8.21	40.77	52.59	46.07	49.07	51.32	54.68
EBITDA	6	9	- -	12	21	34	32	37	45
EBITDA-CapEx	6	9	- -	12	21	34	32	37	45
Operating Income (Loss)	3	4	- -	2	5	10	7	12	18

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	0.01	7.91	0.74	2.1	2.23	0.65	0.23	0.26
Current Ratio	- -	0.01	8.36	1.13	2.8	3.71	8.92	14.87	12.12
Quick Ratio	- -	0.01	7.91	0.85	2.41	2.52	6.48	13.47	9.72
CFO/Avg Current Liab	- -	2.51	- -	4.56	5.07	5.97	4.54	3.59	2.09
Common Equity/Total Assets	95.56	98.13	83.77	48.34	38.88	45.62	44.41	41.82	39.09
Long-Term Debt/Equity (%)	1.46	1.38	1.19	73.85	119.88	92.7	102.33	111.93	128.06
Long-Term Debt/Capital (%)	1.44	1.36	1.17	42.48	54.52	48.11	50.58	52.81	56.15
Long-Term Debt/Total Assets (%)	1.4	1.35	1.16	41.99	54.05	47.75	49.96	51.15	53.89
Total Debt/Equity (%)	1.46	1.38	1.19	73.85	119.88	92.7	102.33	111.93	128.06
Total Debt/Capital (%)	1.44	1.36	1.17	42.48	54.52	48.11	50.58	52.81	56.15
Total Debt/Total Assets (%)	1.4	1.35	1.16	41.99	54.05	47.75	49.96	51.15	53.89
CFO/Total Liabilities	94.33	238.16	- -	8.3	6.2	8.87	8.02	7.13	6.21
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	0.12	0.21	26.11	0.68	0.6	0.76	0.72	0.82	0.9

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	- -	- -	- -	- -	77.12	46.08	44.91	50.32
Days Sales Outstanding	- -	- -	- -	- -	- -	4.73	7.92	8.13	7.25
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	0.86	- -	10.67	20.68	80.55	465.36	343.83	505.14
Accounts Payable Turnover Days	- -	424.93	- -	34.21	17.65	4.53	0.78	1.06	0.72
Cash Conversion Cycle	- -	-424.93	- -	-34.21	-17.65	0.2	7.14	7.07	6.53
Inventory to Cash Days	- -	- -	- -	- -	- -	4.73	7.92	8.13	7.25
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	150	112	230	256	231	247	247
- Cash & Cash Equivalents	- -	- -	12	2	9	9	4	2	5
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	23	22	31	34	25	23	21
+ Total Debt	2	2	2	110	273	274	282	309	386
Enterprise Value	2	2	163	242	525	554	534	578	650
Total Capital	122	126	163	259	501	569	558	586	687
Total Debt/Capital (%)	1.44	1.36	1.17	42.48	54.52	48.11	50.58	52.81	56.15
Total Debt / EV	1	1	0.01	0.45	0.52	0.49	0.53	0.54	0.59
EV/Sales	0.21	0.15	- -	12.59	17.44	12.26	11.7	11.07	10.73
EV/EBITDA	0.29	0.2	- -	19.92	24.81	16.47	16.5	15.48	14.36
EV/EBIT	0.57	0.42	- -	104.33	95.74	53.24	76.21	47.13	35.15
EV/Cash Flow to Firm	0.32	0.3	- -	22.71	25.57	16.5	16.37	16.65	15.76
EV/Free Cash Flow to Firm	0.32	0.3	- -	22.71	25.57	16.5	16.37	16.65	15.76
Diluted Market Cap	- -	- -	- -	132	225	261	263	253	260
Diluted Enterprise Value	2	2	13	263	521	560	566	585	663
EV per Share	0.22	0.22	20.64	32.49	45.86	41.37	39.08	39.34	43.95
TTM Sales	8	12	- -	19	30	45	46	52	61
TTM EBITDA	6	9	- -	12	21	34	32	37	45
TTM Operating Income	3	4	- -	2	5	10	7	12	18
TTM Cash Flow to Firm	6	6	- -	11	21	34	33	35	41
TTM Free Cash Flow to Firm	6	6	- -	11	21	34	33	35	41

Multiples (USD)

Valuation Multiples API ChatGPT

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	- -	- -	14.06	13.1	10.59	11.36	10.81	10.1
EV/EBIT	0.57	0.42	- -	104.33	95.74	53.24	76.21	47.13	35.15
Enterprise Value	2	2	163	242	525	554	534	578	650
Low Price	- -	- -	18.3	7.74	14.15	15.41	14.25	14.33	13.1
EV/Sales	0.21	0.15	- -	12.59	17.44	12.26	11.7	11.07	10.73
EV/EBITDA	0.29	0.2	- -	19.92	24.81	16.47	16.5	15.48	14.36
Price/Earnings	- -	- -	- -	115.48	19.67	7.69	80.73	112.62	- -
Price/Earnings Average	- -	- -	- -	115.38	17.93	7.43	80.61	110.84	-69.36
Price/Earnings High	- -	- -	- -	152.85	20.37	8.49	99.25	130.26	-79.84
Price/Earnings Low	- -	- -	- -	59.63	13.89	6.21	68.03	96.12	-58.49
Price/Book Value	- -	- -	1.09	0.88	1.17	0.98	0.92	0.97	0.88
Price/Book Value Average	- -	- -	1.08	0.88	1.06	0.94	0.92	0.96	0.82
Price/Book Value High	- -	- -	1.1	1.17	1.21	1.08	1.13	1.13	0.94
Price/Book Value Low	- -	- -	1.05	0.46	0.82	0.79	0.78	0.83	0.69
Price/Tangible Book Value	- -	- -	1.31	1.24	1.67	1.27	1.15	1.18	1.07
Price/Tangible Book Value Average	- -	- -	1.29	1.24	1.52	1.23	1.14	1.16	0.99
Price/Tangible Book Value High	- -	- -	1.31	1.65	1.73	1.4	1.41	1.36	1.14
Price/Tangible Book Value Low	- -	- -	1.26	0.64	1.18	1.03	0.97	1.01	0.84
Price/Sales	- -	- -	- -	5.91	6.51	5.06	5.16	4.46	3.96
Price/Sales Average	- -	- -	- -	5.9	5.93	4.89	5.15	4.38	3.68
Price/Sales High	- -	- -	- -	7.82	6.74	5.58	6.34	5.15	4.23
Price/Sales Low	- -	- -	- -	3.05	4.59	4.08	4.35	3.8	3.1
Price/Cash Flow	- -	- -	- -	12.11	11.4	9.27	10.16	9.93	9.3
Price/Cash Flow Average	- -	- -	- -	12.1	10.39	8.96	10.15	9.78	8.64
Price/Cash Flow High	- -	- -	- -	16.03	11.8	10.24	12.5	11.49	9.95
Price/Cash Flow Low	- -	- -	- -	6.25	8.05	7.49	8.57	8.48	7.29
Price/Free Cash Flow Average	- -	- -	- -	14.05	11.94	10.23	11.34	10.64	9.38
Price/Free Cash Flow High	- -	- -	- -	18.61	13.57	11.69	13.96	12.5	10.8
Price/Free Cash Flow Low	- -	- -	- -	7.26	9.25	8.55	9.57	9.23	7.91
EV/Sales Average	0.21	0.15	- -	12.59	16.76	12.07	11.69	10.99	10.44
EV/Sales High	0.21	0.15	- -	14.47	17.71	12.85	12.86	11.81	11.02
EV/Sales Low	0.21	0.15	- -	9.78	15.2	11.17	10.9	10.38	9.85
EV/EBITDA Average	0.29	0.2	- -	19.92	23.85	16.22	16.49	15.37	13.97
EV/EBITDA High	0.29	0.2	- -	22.9	25.2	17.26	18.14	16.51	14.74
EV/EBITDA Low	0.29	0.2	- -	15.48	21.63	15.01	15.38	14.51	13.18
EV/EBIT Average	0.57	0.42	- -	104.29	92.03	52.42	76.17	46.81	34.21
EV/EBIT High	0.57	0.42	- -	119.9	97.22	55.8	83.78	50.28	36.08
EV/EBIT Low	0.57	0.42	- -	81.05	83.44	48.52	71.03	44.18	32.26
Last Price	- -	- -	19.03	14.99	20.04	19.08	16.91	16.79	16.72
High Price	- -	- -	19.09	19.84	20.75	21.07	20.79	19.42	17.88
Enterprise Value Average	2	2	161	242	505	546	534	574	632
Enterprise Value High	2	2	164	279	533	581	587	617	667
Enterprise Value Low	2	2	157	188	458	505	498	542	596

Shares Outstanding	8	8	8	7	11	13	14	15	15
Diluted Weighted Avg Shares	9	9	- -	9	11	14	16	15	16
Basic Weighted Avg Shares	8	8	- -	8	10	12	14	14	14
Revenue per Share	1.07	1.48	- -	2.54	3.08	3.77	3.28	3.77	4.22
EBITDA per Share	0.76	1.1	- -	1.6	2.16	2.81	2.32	2.69	3.16
Operating Income per Share	0.39	0.51	- -	0.31	0.56	0.87	0.5	0.89	1.29
Basic EPS, GAAP	0.36	0.51	- -	0.13	1.02	2.48	0.21	0.15	-0.22
Basic EPS from Cont Ops	0.36	0.51	- -	0.15	1.17	2.84	0.23	0.16	-0.2
Diluted EPS, GAAP	0.31	0.44	- -	0.11	0.89	2.17	0.19	0.14	-0.21
Diluted EPS from Cont Ops	0.31	0.44	- -	0.13	1.02	2.48	0.21	0.15	-0.19
Dividend per Share	- -	- -	- -	0.95	1.24	1.26	1.23	1.21	1.28
Cash Flow per Share	0.67	0.71	- -	1.24	1.76	2.06	1.66	1.69	1.8
Free Cash Flow per Basic Share	0.67	0.71	- -	1.24	1.76	2.06	1.66	1.69	1.8
Cash & Equivalents per Share	- -	- -	1.56	0.25	0.77	0.67	0.29	0.11	0.31
Book Value per Share	15.27	15.75	17.4	16.99	17.16	19.53	18.36	17.22	18.93
Tangible Book Value per Share	13.81	14.42	14.57	12.05	12.02	15.02	14.75	14.23	15.62

Alpine Income Property Trust, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)