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	- -	- -	- -	- -	- -	- -	-2,175.59
Return on Assets (%)	- -	3.18	- -	0.46	2.6	5.51	0.51	0.35	-0.4
Return on Capital (%)	- -	3.24	- -	2.77	5.55	11.18	3.86	4.13	- -
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	- -	- -	- -	- -	- -	- -	-12,705.7

Credit (USD)

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	-0.26	-2.15	-1.25	1.77	-0.39	0.02	0.02
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	7.74	86.83	91.59	86.17	92.57	92.91	94.71
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	7.74	86.83	91.59	86.17	92.57	92.91	94.71
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	-100.15	83.99	89.45	83.6	90.35	90.46	92.65
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)

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	-0.26	-2.15	-1.25	1.77	-0.39	0.02	0.02
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	7.74	86.83	91.59	86.17	92.57	92.91	94.71
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	7.74	86.83	91.59	86.17	92.57	92.91	94.71
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	0.09	0.69	0.53	0.7	0.73	0.79	0.89

Working Capital (USD)

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)

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	- -	- -	- -	114	196	229	235	233	240
- 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	13	244	492	527	538	564	642
Total Capital	122	126	25	127	298	318	305	333	407
Total Debt/Capital (%)	1.44	1.36	7.74	86.83	91.59	86.17	92.57	92.91	94.71
Total Debt / EV	1	1	0.15	0.45	0.56	0.52	0.52	0.55	0.6
EV/Sales	0.21	0.15	- -	12.69	16.32	11.66	11.79	10.8	10.61
EV/EBITDA	0.29	0.2	- -	20.08	23.23	15.67	16.64	15.1	14.19
EV/EBIT	0.57	0.42	- -	105.16	89.62	50.64	76.85	45.99	34.74
EV/Cash Flow to Firm	0.32	0.3	- -	22.9	23.94	15.69	16.5	16.25	15.58
EV/Free Cash Flow to Firm	0.32	0.3	- -	22.9	23.94	15.69	16.5	16.25	15.58
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	- -	32.19	50.28	44.01	38.66	40.7	44.82
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)

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	- -	105.16	89.62	50.64	76.85	45.99	34.74
Enterprise Value	2	2	13	244	492	527	538	564	642
Low Price	- -	- -	18.3	7.74	14.15	15.41	14.25	14.33	13.1
EV/Sales	0.21	0.15	- -	12.69	16.32	11.66	11.79	10.8	10.61
EV/EBITDA	0.29	0.2	- -	20.08	23.23	15.67	16.64	15.1	14.19
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	- -	- -	- -	-20.18	-31.09	22.46	-105.98	1,582.86	1,618.73
Price/Book Value Average	- -	- -	- -	-20.16	-28.33	21.7	-105.83	1,557.79	1,503.86
Price/Book Value High	- -	- -	- -	-26.7	-32.19	24.8	-130.29	1,830.8	1,731.03
Price/Book Value Low	- -	- -	- -	-10.42	-21.95	18.14	-89.31	1,350.94	1,268.26
Price/Tangible Book Value	- -	- -	- -	1.01	1.16	0.97	1.04	1	0.95
Price/Tangible Book Value Average	- -	- -	- -	1.01	1.06	0.94	1.04	0.98	0.88
Price/Tangible Book Value High	- -	- -	- -	1.34	1.2	1.07	1.28	1.16	1.02
Price/Tangible Book Value Low	- -	- -	- -	0.52	0.82	0.79	0.88	0.85	0.74
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	- -	12.69	15.75	11.49	11.79	10.73	10.33
EV/Sales High	0.21	0.15	- -	14.6	16.55	12.19	12.98	11.5	10.88
EV/Sales Low	0.21	0.15	- -	9.83	14.41	10.69	10.98	10.15	9.75
EV/EBITDA Average	0.29	0.2	- -	20.08	22.41	15.44	16.63	15.01	13.82
EV/EBITDA High	0.29	0.2	- -	23.11	23.56	16.37	18.31	16.08	14.56
EV/EBITDA Low	0.29	0.2	- -	15.56	20.51	14.36	15.5	14.19	13.04
EV/EBIT Average	0.57	0.42	- -	105.12	86.46	49.9	76.81	45.69	33.82
EV/EBIT High	0.57	0.42	- -	121.01	90.89	52.93	84.57	48.96	35.64
EV/EBIT Low	0.57	0.42	- -	81.48	79.12	46.42	71.57	43.21	31.94
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	13	244	474	519	538	560	625
Enterprise Value High	2	2	13	281	499	551	592	600	659
Enterprise Value Low	2	2	13	189	434	483	501	530	590

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	- -	- -	- -	0.25	0.9	0.75	0.29	0.11	0.32
Book Value per Share	15.23	15.71	- -	-0.74	-0.64	0.85	-0.16	0.01	0.01
Tangible Book Value per Share	13.77	14.38	- -	14.79	17.29	19.62	16.25	16.78	17.61

Alpine Income Property Trust, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)