Proto Labs, Inc. Financial Ratios — PRLB Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	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 (%)	- -	- -	124.95	62.43	41.99	27.49	25.8	29.67	20.66	14.79	9.02	-32.59	6.69	6.63	8.76
Return on Assets (%)	35.7	20.44	17.51	16.1	14.35	11.02	11.1	13.46	9.85	7.18	3.99	-11.96	2.19	2.19	2.82
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	218.36	23.45	19.01	17.37	15.48	11.62	11.86	14.73	10.99	7.71	4.5	- -	2.47	2.5	2.66
Gross Margin (%)	60.25	60.43	62.35	61.26	58.46	56.01	56.27	53.56	51.29	50.14	45.62	44.12	44.06	44.56	44.48
EBITDA Margin (%)	31.47	32.56	36.09	34.19	30.77	26.59	26.33	25.95	24.14	21.28	16.56	13.59	13.08	12.24	11.26
Operating Margin (%)	27.16	27.74	31.45	28.88	25.43	20.72	20.97	19.95	17.41	13.77	8.27	5.52	5.63	5.09	4.91
Incremental Operating Margin (%)	29.89	29.86	44.05	19.86	12.14	-15.85	22.52	16.49	-68.85	82.28	-36.3	-4,465	9.27	96.62	2.19
Pretax Margin (%)	27.04	27.76	31.62	28.88	25.69	21.55	21.61	20.57	17.7	14.49	8.23	-20.04	5.55	4.93	5.83
Profit Margin (%)	18.16	19.07	21.63	19.87	17.61	14.33	15.03	17.19	13.88	11.71	6.84	-21.18	3.42	3.31	3.98
Net Income to Common Margin (%)	13.94	19.07	21.63	19.87	17.61	14.33	15.03	17.19	13.88	11.71	6.84	-21.18	3.42	3.31	3.98
Effective Tax Rate (%)	32.83	31.3	31.6	31.22	31.46	33.5	30.44	16.44	21.6	19.19	16.95	- -	38.39	32.75	31.62
Dvd Payout Ratio (%)	-30.3	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	124.95	62.43	41.99	27.49	25.8	29.67	20.66	14.79	9.02	-32.59	6.69	6.63	8.76

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	1	1	- -	- -	- -	- -	5	- -	12	13	7	21	5	4	3
ST Debt	- -	- -	- -	- -	- -	- -	5	- -	3	4	4	19	2	2	1
LT Debt	1	- -	- -	- -	- -	- -	- -	- -	9	10	4	2	4	2	2
Total Debt/EBITDA	0.03	0.02	0.01	- -	- -	- -	0.06	- -	0.11	0.14	0.09	0.32	0.08	0.06	0.05
Net Debt/EBITDA	-0.23	-0.9	-0.73	-0.6	-0.59	-0.87	-0.35	-0.74	-1.13	-1.38	-0.82	-0.85	-1.27	-1.45	-1.85
Total Debt/EBIT	0.04	0.02	0.01	- -	- -	- -	0.07	- -	0.15	0.22	0.18	0.79	0.19	0.14	0.12
Net Debt/EBIT	-0.27	-1.05	-0.84	-0.72	-0.71	-1.11	-0.44	-0.96	-1.57	-2.13	-1.63	-2.1	-2.95	-3.49	-4.23
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-43.18	6.13	19.93	30.49	37.12	42.66	43.32	47.09	48.21	48.77	40.57	32.2	33.2	32.88	31.54
Long-Term Debt/Equity (%)	1.31	0.23	0.08	- -	- -	- -	- -	- -	1.46	1.48	0.43	0.32	0.52	0.29	0.24
Long-Term Debt/Capital (%)	1.53	3.17	0.34	0.01	- -	- -	- -	- -	2.54	2.53	0.94	0.81	1.38	0.77	0.66
Long-Term Debt/Total Assets (%)	0.98	0.21	0.07	- -	- -	- -	- -	- -	1.27	1.28	0.39	0.28	0.47	0.26	0.21
Total Debt/Equity (%)	2.15	0.4	0.17	0.06	- -	- -	1.08	- -	2.03	2.07	0.9	3.06	0.79	0.52	0.45
Total Debt/Capital (%)	2.5	5.6	0.79	0.17	- -	- -	2.18	- -	3.54	3.54	1.94	7.64	2.09	1.42	1.25
Total Debt/Total Assets (%)	1.61	0.36	0.16	0.05	- -	- -	0.96	- -	1.77	1.79	0.8	2.66	0.71	0.47	0.4
Net Debt to Equity	-15.29	-23.46	-20.34	-16.32	-14.54	-18.11	-6.87	-15.71	-21.38	-19.8	-7.96	-8.11	-12.05	-13.29	-16.44
Net Debt/Capital (%)	-22.27	143.96	-1,346.23	-97.75	-55.17	-63.74	-16.43	-41.2	-59.23	-51.32	-20.71	-25.36	-47.04	-56.06	-83.32
EBITDA	31	41	59	72	81	79	91	116	111	92	81	66	66	61	60
EBITDA-CapEx	12	24	40	28	37	46	58	29	48	45	47	45	38	52	45
Operating Income (Loss)	27	35	51	61	67	62	72	89	80	60	40	27	28	25	26

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	0.84	5.36	5.81	3.95	3.08	4.62	2.15	2.5	3.38	3.22	1.41	1.12	2.07	1.94	1.91
Current Ratio	2.82	7.81	8.04	5.75	5.25	6.74	3.77	4.08	4.97	4.82	3.34	2.61	4.04	3.66	3.49
Quick Ratio	2	6.9	7.36	5.24	4.68	6.09	3.37	3.73	4.58	4.38	2.89	2.24	3.58	3.24	3.13
CFO/Avg Current Liab	2.56	2.39	3.84	3.53	2.85	3.12	2.43	2.55	2.31	2.19	1.05	0.98	1.21	1.51	1.24
Common Equity/Total Assets	-43.18	6.13	19.93	30.49	37.12	42.66	43.32	47.09	48.21	48.77	40.57	32.2	33.2	32.88	31.54
Long-Term Debt/Equity (%)	1.31	0.23	0.08	- -	- -	- -	- -	- -	1.46	1.48	0.43	0.32	0.52	0.29	0.24
Long-Term Debt/Capital (%)	1.53	3.17	0.34	0.01	- -	- -	- -	- -	2.54	2.53	0.94	0.81	1.38	0.77	0.66
Long-Term Debt/Total Assets (%)	0.98	0.21	0.07	- -	- -	- -	- -	- -	1.27	1.28	0.39	0.28	0.47	0.26	0.21
Total Debt/Equity (%)	2.15	0.4	0.17	0.06	- -	- -	1.08	- -	2.03	2.07	0.9	3.06	0.79	0.52	0.45
Total Debt/Capital (%)	2.5	5.6	0.79	0.17	- -	- -	2.18	- -	3.54	3.54	1.94	7.64	2.09	1.42	1.25
Total Debt/Total Assets (%)	1.61	0.36	0.16	0.05	- -	- -	0.96	- -	1.77	1.79	0.8	2.66	0.71	0.47	0.4
CFO/Total Liabilities	150.14	160.24	261.39	266.19	191.96	225.24	142.11	158.64	132.06	107.13	55.19	59.39	95.09	106.09	83.26
CFO/CapEx	1.24	1.48	2.58	1.31	1.44	2.31	2.5	1.41	1.86	2.28	1.61	2.86	2.61	8.49	5.02
Altman's Z-Score	2.74	36.53	60.3	50.69	32.22	25.99	31.44	26.42	21.29	26.93	11.16	6.18	10.35	10.47	10.57

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	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	9.94	9.22	9.56	9.85	8.75	8.49	8.05	8.05	7.87	7.53	7.08	6.25	6.76	7.19	7.33
Days Sales Outstanding	36.72	39.58	38.17	37.05	41.7	42.97	45.33	45.32	46.39	48.45	51.57	58.4	53.99	50.77	49.8
Inventory Turnover	14.56	11.85	12.55	14.29	13.74	13.74	14.64	19.38	22.16	20.69	22.1	20.41	20.7	21.39	22.17
Days Inventory Outstanding	25.07	30.81	29.08	25.54	26.56	26.56	24.93	18.84	16.47	17.64	16.52	17.88	17.63	17.06	16.47
Accounts Payable Turnover	11.55	11.03	11.05	11.47	10.53	10.47	11.22	12.36	13.06	12.4	12.28	12.8	17.09	17.75	19.48
Accounts Payable Turnover Days	31.59	33.09	33.03	31.83	34.68	34.87	32.53	29.53	27.95	29.43	29.73	28.52	21.35	20.57	18.74
Cash Conversion Cycle	30.2	37.3	34.22	30.76	33.58	34.66	37.74	34.63	34.91	36.66	38.36	47.75	50.27	47.27	47.52
Inventory to Cash Days	11.64	8.77	9.09	11.51	15.14	16.42	20.4	26.48	29.92	30.81	35.05	40.52	36.36	33.71	33.33
Inventories	4	5	5	6	10	9	11	10	10	11	13	14	14	12	14
Raw Materials	3	4	5	6	9	8	10	10	10	- -	- -	- -	- -	- -	- -
Work In Process	- -	1	- -	1	2	2	2	1	1	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	11	13	14	14	13	15

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	- -	921	1,794	1,726	1,656	1,354	2,745	3,043	2,728	4,102	1,418	700	1,020	981	1,210
- Cash & Cash Equivalents	8	37	43	43	48	69	37	85	125	128	66	57	84	89	111
+ Preferred Equity and Hybrid Capital	66	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	1	1	- -	- -	- -	- -	5	- -	12	13	7	21	5	4	3
Enterprise Value	59	860	1,715	1,652	1,575	1,246	2,656	2,912	2,580	3,953	1,348	641	923	881	1,085
Total Capital	40	11	46	88	134	177	230	291	337	376	384	280	262	248	244
Total Debt/Capital (%)	2.5	5.6	0.79	0.17	- -	- -	2.18	- -	3.54	3.54	1.94	7.64	2.09	1.42	1.25
Total Debt / EV	0.02	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.01	0.03	0.01	- -	- -
EV/Sales	0.59	6.83	10.51	7.88	5.97	4.18	7.71	6.53	5.62	9.1	2.76	1.31	1.83	1.76	2.04
EV/EBITDA	1.89	20.97	29.13	23.05	19.38	15.72	29.28	25.18	23.3	42.77	16.68	9.66	14	14.38	18.08
EV/EBIT	2.18	24.61	33.42	27.29	23.46	20.17	36.77	32.75	32.3	66.07	33.42	23.79	32.52	34.57	41.42
EV/Cash Flow to Firm	2.49	33.5	35.4	28.87	24.58	16.07	32.48	23.68	22.23	36.96	24.4	10.33	12.6	11.33	14.57
EV/Free Cash Flow to Firm	1.38	19.97	25.52	16.4	14.53	11.21	23.22	13.86	14.47	25.67	15.07	7.65	9.1	10.13	12.15
Diluted Market Cap	- -	964	1,841	1,753	1,676	1,364	2,765	3,077	2,747	4,126	1,420	700	1,022	986	1,227
Diluted Enterprise Value	59	927	1,798	1,710	1,629	1,295	2,733	2,992	2,634	4,012	1,362	665	943	900	1,119
EV per Share	2.53	36.8	68.04	64.28	60.58	47.24	99.66	107.91	96.01	147.85	48.81	23.39	35.24	35.12	45.36
TTM Sales	99	126	163	210	264	298	344	446	459	434	488	488	504	501	533
TTM EBITDA	31	41	59	72	81	79	91	116	111	92	81	66	66	61	60
TTM Operating Income	27	35	51	61	67	62	72	89	80	60	40	27	28	25	26
TTM Cash Flow to Firm	24	26	48	57	64	77	82	123	116	107	55	62	73	78	75
TTM Free Cash Flow to Firm	43	43	67	101	108	111	114	210	178	154	89	84	101	87	89

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	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	- -	22.37	27.39	17.4	15.46	12.28	24.17	14.65	15.41	26.8	15.87	8.35	10.08	11.33	13.73
EV/EBIT	2.18	24.61	33.42	27.29	23.46	20.17	36.77	32.75	32.3	66.07	33.42	23.79	32.52	34.57	41.42
Enterprise Value	59	860	1,715	1,652	1,575	1,246	2,656	2,912	2,580	3,953	1,348	641	923	881	1,085
Low Price	- -	24.07	37.23	54.97	57.3	43.1	48	100.05	88.75	63.19	47.57	22.04	23.01	25.76	29.59
EV/Sales	0.59	6.83	10.51	7.88	5.97	4.18	7.71	6.53	5.62	9.1	2.76	1.31	1.83	1.76	2.04
EV/EBITDA	1.89	20.97	29.13	23.05	19.38	15.72	29.28	25.18	23.3	42.77	16.68	9.66	14	14.38	18.08
Price/Earnings	- -	38.35	50.84	41.44	35.61	31.7	53.01	39.74	42.86	80.63	42.5	- -	59.25	59.12	56.98
Price/Earnings Average	- -	32.51	43.89	44.12	38.3	37.23	35.47	44.09	44.37	61.61	82.51	-11.38	47.66	50.73	49.02
Price/Earnings High	- -	39.99	64.27	58.15	44.7	50.66	56.15	58.69	55.12	107.17	237.16	-16.2	61.54	68.29	62.96
Price/Earnings Low	- -	23.42	26.59	33.92	32.04	26.61	24.7	35.25	37.46	33.21	39.37	-5.84	34.99	38.96	33.33
Price/Book Value	- -	86.96	39.1	19.72	12.36	7.66	12.21	10.44	8.4	11.3	3.76	2.71	3.98	4.01	5.03
Price/Book Value Average	- -	73.71	33.75	20.99	13.29	9	8.17	11.58	8.7	8.63	7.31	4.56	3.2	3.44	4.32
Price/Book Value High	- -	90.67	49.42	27.67	15.51	12.24	12.94	15.42	10.8	15.02	21.01	6.49	4.13	4.64	5.55
Price/Book Value Low	- -	53.1	20.45	16.14	11.12	6.43	5.69	9.26	7.34	4.66	3.49	2.34	2.35	2.64	2.94
Price/Tangible Book Value	- -	5.88	8.47	7.42	5.61	3.89	8.75	7.75	6.21	8.18	3.64	1.78	2.58	2.62	3.17
Price/Tangible Book Value Average	- -	4.98	7.32	7.9	6.03	4.57	5.86	8.59	6.42	6.25	7.06	3	2.07	2.25	2.73
Price/Tangible Book Value High	- -	6.13	10.71	10.41	7.04	6.21	9.27	11.44	7.98	10.88	20.3	4.27	2.68	3.02	3.51
Price/Tangible Book Value Low	- -	3.59	4.43	6.07	5.04	3.26	4.08	6.87	5.42	3.37	3.37	1.54	1.52	1.73	1.86
Price/Sales	- -	7.31	11	8.23	6.27	4.54	7.97	6.83	5.95	9.44	2.91	1.43	2.02	1.96	2.27
Price/Sales Average	- -	6.2	9.49	8.77	6.75	5.33	5.33	7.58	6.16	7.21	5.64	2.41	1.63	1.68	1.95
Price/Sales High	- -	7.62	13.9	11.55	7.87	7.26	8.44	10.09	7.65	12.55	16.21	3.43	2.1	2.26	2.51
Price/Sales Low	- -	4.47	5.75	6.74	5.64	3.81	3.71	6.06	5.2	3.89	2.69	1.24	1.2	1.29	1.33
Price/Cash Flow	- -	35.89	37.03	30.16	25.84	17.47	33.58	24.76	23.51	38.34	25.67	11.27	13.92	12.6	16.24
Price/Cash Flow Average	- -	30.42	31.96	32.11	27.8	20.51	22.46	27.47	24.34	29.3	49.85	18.97	11.2	10.81	13.98
Price/Cash Flow High	- -	37.42	46.8	42.32	32.44	27.92	35.56	36.57	30.23	50.96	143.27	27	14.46	14.56	17.95
Price/Cash Flow Low	- -	21.91	19.37	24.69	23.25	14.66	15.65	21.96	20.55	15.79	23.78	9.73	8.22	8.31	9.5
Price/Free Cash Flow Average	- -	18.96	23.65	18.53	16.63	14.42	16.17	16.25	15.95	20.47	30.82	14.06	8.11	9.72	11.81
Price/Free Cash Flow High	- -	23.32	34.62	24.42	19.4	19.62	25.61	21.64	19.81	35.61	88.59	20.01	10.47	13.08	15.17
Price/Free Cash Flow Low	- -	13.66	14.33	14.25	13.91	10.3	11.27	12.99	13.47	11.04	14.71	7.21	5.95	7.47	8.03
EV/Sales Average	0.6	5.91	9.23	8.56	6.57	5.1	5.24	7.39	5.91	6.95	5.52	2.34	1.47	1.51	1.75
EV/Sales High	0.6	7.34	13.64	11.35	7.69	7.03	8.35	9.9	7.4	12.29	16.09	3.36	1.95	2.09	2.31
EV/Sales Low	0.6	4.18	5.49	6.53	5.46	3.58	3.62	5.87	4.95	3.63	2.57	1.16	1.04	1.12	1.13
EV/EBITDA Average	1.89	18.16	25.58	25.03	21.33	19.19	19.9	28.46	24.49	32.67	33.34	17.21	11.26	12.33	15.55
EV/EBITDA High	1.89	22.54	37.79	33.18	25	26.43	31.7	38.13	30.67	57.74	97.19	24.72	14.89	17.09	20.49
EV/EBITDA Low	1.89	12.83	15.21	19.1	17.75	13.47	13.75	22.61	20.51	17.04	15.53	8.57	7.95	9.15	10
EV/EBIT Average	2.19	21.31	29.35	29.64	25.82	24.63	24.99	37.03	33.95	50.46	66.81	42.39	26.16	29.66	35.63
EV/EBIT High	2.19	26.46	43.36	39.29	30.25	33.91	39.81	49.61	42.52	89.19	194.73	60.88	34.58	41.09	46.93
EV/EBIT Low	2.19	15.07	17.46	22.62	21.48	17.28	17.27	29.41	28.44	26.33	31.12	21.11	18.47	22	22.9
Last Price	- -	39.42	71.18	67.16	63.69	51.35	103	112.79	101.55	153.4	51.35	25.53	38.96	39.09	50.59
High Price	- -	41.1	89.97	94.23	79.95	82.06	109.1	166.6	130.6	203.88	286.57	61.14	40.47	45.15	55.9
Enterprise Value Average	59	745	1,506	1,794	1,734	1,521	1,805	3,292	2,711	3,019	2,695	1,142	742	756	933
Enterprise Value High	59	925	2,224	2,378	2,032	2,095	2,876	4,410	3,396	5,337	7,856	1,641	981	1,048	1,230
Enterprise Value Low	59	526	895	1,369	1,442	1,068	1,247	2,615	2,271	1,575	1,255	569	524	561	600

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	23	25	26	26	26	27	27	27	27	27	27	27	26	24	24
Diluted Weighted Avg Shares	23	24	26	26	26	27	27	27	27	27	28	27	26	25	24
Basic Weighted Avg Shares	23	23	25	26	26	26	27	27	27	27	28	27	26	25	24
Revenue per Share	4.27	5.39	6.47	8.16	10.16	11.3	12.93	16.51	17.07	16.25	17.67	17.82	19.24	19.96	22.29
EBITDA per Share	1.34	1.76	2.34	2.79	3.13	3.01	3.4	4.29	4.12	3.46	2.93	2.42	2.52	2.44	2.51
Operating Income per Share	1.16	1.5	2.04	2.36	2.58	2.34	2.71	3.29	2.97	2.24	1.46	0.98	1.08	1.02	1.1
Basic EPS, GAAP	0.59	1.03	1.4	1.62	1.79	1.62	1.94	2.84	2.37	1.9	1.21	-3.77	0.66	0.66	0.89
Basic EPS from Cont Ops	0.78	1.03	1.4	1.62	1.79	1.62	1.94	2.84	2.37	1.9	1.21	-3.77	0.66	0.66	0.89
Diluted EPS, GAAP	0.59	0.98	1.36	1.6	1.77	1.61	1.93	2.81	2.35	1.89	1.21	-3.77	0.66	0.66	0.88
Diluted EPS from Cont Ops	0.78	0.98	1.36	1.6	1.77	1.61	1.93	2.81	2.35	1.89	1.21	-3.77	0.66	0.66	0.88
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	1.01	1.1	1.92	2.23	2.46	2.94	3.07	4.56	4.32	4	2	2.26	2.8	3.1	3.11
Free Cash Flow per Basic Share	0.2	0.35	1.18	0.53	0.76	1.66	1.84	1.33	2	2.24	0.76	1.47	1.72	2.74	2.49
Cash & Equivalents per Share	0.36	2.65	3.15	2.88	3.11	4.11	3.53	4.88	5.98	6.05	2.81	2.92	3.93	4.11	5.36
Book Value per Share	-1.16	0.45	1.82	3.41	5.15	6.7	8.43	10.8	12.09	13.57	13.64	9.42	9.79	9.74	10.07
Tangible Book Value per Share	-0.84	6.7	8.4	9.05	11.36	13.21	11.77	14.56	16.36	18.75	14.12	14.32	15.11	14.93	15.94

Proto Labs, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)