RGC Resources, Inc. Financial Ratios — RGCO Stock

Profitability (USD)

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	9.22	9.38	10.63	11.15	12.21	11.37	11.37	12.55	14.31	- -	24.78	-48.38	21.79	20.84	21.63
Return on Assets (%)	3.37	3.35	3.57	3.58	3.73	3.58	3.62	3.64	3.91	- -	6.52	-10.57	3.8	3.77	4.08
Return on Capital (%)	7.2	7.34	7.48	7.07	7.44	6.78	6.97	7.35	7.3	- -	11.87	- -	8.17	8.29	8.69
Return on Invested Capital (%)	6.94	6.96	7.06	6.71	7	6.72	6.05	5.29	4.79	- -	9.35	- -	5.73	5.21	5.43
Gross Margin (%)	24.47	23.34	21.27	24.52	31.27	32.48	30.98	31.04	35.84	- -	33.91	31.07	30.55	35.79	34.46
EBITDA Margin (%)	22.4	21.28	19.36	22.33	28.65	29.81	28.32	28.22	32.73	- -	31.19	28.63	28.4	32.61	31.38
Operating Margin (%)	14.94	13.91	12.91	14.67	18.98	19.57	17.5	17.05	19.85	- -	19.66	17.72	18.14	20.18	19.35
Incremental Operating Margin (%)	4.39	0.19	7.51	-4.75	-13.21	30.33	-22.31	5.01	-18.64	19.85	19.66	1.54	20.81	4.66	12.77
Pretax Margin (%)	11.8	10.93	10.2	12.12	16.04	16.11	15.55	16.68	21.99	- -	17.7	-51.26	15.18	18.26	18.22
Profit Margin (%)	7.31	6.74	6.28	7.47	9.83	10.01	11.13	12.79	16.75	- -	13.44	-37.7	11.6	13.89	13.93
Net Income to Common Margin (%)	7.31	6.74	6.28	7.47	9.83	10.01	11.13	12.79	16.75	- -	13.44	-37.7	11.6	13.89	13.93
Effective Tax Rate (%)	38.05	38.29	38.44	38.36	38.7	37.91	28.41	23.36	23.83	- -	24.08	- -	23.61	23.91	23.55
Dvd Payout Ratio (%)	75.09	188.48	73.59	70.73	65.59	66.04	63.68	59.99	53.09	- -	59.52	-22.1	69.1	68.78	63.77
Sustainable Growth Rate (%)	2.3	-8.3	2.81	3.26	4.2	3.86	4.13	5.02	6.71	- -	10.03	-59.07	6.73	6.51	7.84

Credit (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	28	28	39	40	48	61	70	103	124	- -	140	137	141	149	149
ST Debt	15	15	9	9	15	- -	- -	- -	- -	- -	7	1	15	12	3
LT Debt	13	13	30	30	34	61	70	103	124	- -	133	136	126	137	146
Total Debt/EBITDA	2.13	2.08	2.71	2.6	2.85	3.3	3.79	5.38	6	- -	5.99	5.68	5.1	5.4	4.98
Net Debt/EBITDA	1.45	1.87	2.65	2.54	2.81	3.3	3.78	5.3	5.98	- -	5.93	5.48	5.05	5.35	4.89
Total Debt/EBIT	3.19	3.18	4.06	3.96	4.3	5.03	6.13	8.91	9.89	- -	9.51	9.18	7.99	8.72	8.07
Net Debt/EBIT	2.17	2.86	3.98	3.86	4.24	5.02	6.11	8.77	9.87	- -	9.4	8.86	7.9	8.65	7.93
EBITDA to Interest Expense	7.2	7.36	7.95	10.07	10.34	9.69	7.54	5.3	5.04	- -	5.79	5.36	4.92	4.24	4.57
EBITDA-CapEx/Interest Expense	2.45	1.9	-0.11	0.96	-0.63	-1.14	-1.92	-0.74	-0.55	- -	5.79	5.36	0.42	0.85	1.4
EBIT to Interest Expense	4.8	4.81	5.3	6.62	6.85	6.36	4.66	3.2	3.05	- -	3.65	3.32	3.15	2.63	2.82
Interest Expense	2	2	2	2	2	2	2	4	4	- -	4	4	6	7	7
Common Equity/Total Assets	36.42	35.05	32.29	31.87	29.39	33.28	30.7	27.55	27.15	- -	26.29	17.1	17.79	18.34	19.4
Long-Term Debt/Equity (%)	25.65	26.26	58.26	57.37	60.42	102.12	88.36	124.4	139.3	- -	133.87	145.77	124.93	126.67	128.65
Long-Term Debt/Capital (%)	17.27	18.14	35.96	35.2	34.73	50.15	51.06	59.22	61.81	- -	60.12	72.7	64.46	65.92	68.61
Long-Term Debt/Total Assets (%)	10.02	10.44	21.78	20.79	20.32	33.48	32.03	40.01	43.96	- -	43.04	46.74	41.43	42.71	44.29
Total Debt/Equity (%)	55.25	56.56	75.65	75.05	86.57	102.12	88.36	124.4	139.3	- -	140.89	147.16	140.15	137.76	131.18
Total Debt/Capital (%)	37.21	39.08	46.69	46.04	49.76	50.15	51.06	59.22	61.81	- -	63.27	73.4	72.31	71.69	69.95
Total Debt/Total Assets (%)	21.58	22.49	28.28	27.19	29.11	33.48	32.03	40.01	43.96	- -	45.3	47.19	46.48	46.45	45.16
Net Debt to Equity	37.67	50.81	74.01	73.19	85.42	102	88.05	122.44	138.97	- -	139.37	141.9	138.65	136.63	128.83
Net Debt/Capital (%)	28.77	36.56	46.15	45.42	49.43	50.12	50.97	58.83	61.76	- -	63.02	72.68	72.1	71.41	69.46
EBITDA	13	13	15	15	17	19	19	19	21	- -	23	24	28	28	30
EBITDA-CapEx	4	3	- -	1	-1	-2	-5	-3	-2	- -	23	24	2	6	9
Operating Income (Loss)	9	9	10	10	11	12	11	12	13	- -	15	15	18	17	18

Liquidity (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	0.3	0.1	0.04	0.04	0.02	- -	0.01	0.08	0.02	- -	0.06	0.22	0.05	0.03	0.1
Current Ratio	1.02	0.75	1.03	0.7	0.54	1.09	0.65	0.76	0.87	- -	0.97	1.59	0.81	0.87	1.03
Quick Ratio	0.46	0.22	0.23	0.18	0.14	0.25	0.17	0.25	0.22	- -	0.25	0.46	0.17	0.19	0.32
CFO/Avg Current Liab	0.39	0.34	0.27	0.77	0.58	0.61	0.7	0.64	0.67	- -	0.89	0.64	0.86	0.57	1.13
Common Equity/Total Assets	36.42	35.05	32.29	31.87	29.39	33.28	30.7	27.55	27.15	- -	26.29	17.1	17.79	18.34	19.4
Long-Term Debt/Equity (%)	25.65	26.26	58.26	57.37	60.42	102.12	88.36	124.4	139.3	- -	133.87	145.77	124.93	126.67	128.65
Long-Term Debt/Capital (%)	17.27	18.14	35.96	35.2	34.73	50.15	51.06	59.22	61.81	- -	60.12	72.7	64.46	65.92	68.61
Long-Term Debt/Total Assets (%)	10.02	10.44	21.78	20.79	20.32	33.48	32.03	40.01	43.96	- -	43.04	46.74	41.43	42.71	44.29
Total Debt/Equity (%)	55.25	56.56	75.65	75.05	86.57	102.12	88.36	124.4	139.3	- -	140.89	147.16	140.15	137.76	131.18
Total Debt/Capital (%)	37.21	39.08	46.69	46.04	49.76	50.15	51.06	59.22	61.81	- -	63.27	73.4	72.31	71.69	69.95
Total Debt/Total Assets (%)	21.58	22.49	28.28	27.19	29.11	33.48	32.03	40.01	43.96	- -	45.3	47.19	46.48	46.45	45.16
CFO/Total Liabilities	14.9	13.38	7.85	18.02	13.58	10.55	9.65	8.39	6.65	- -	5.5	7.89	11.72	8.2	13.38
CFO/CapEx	1.36	1.01	0.46	1.22	0.83	0.63	0.58	0.67	0.56	- -	- -	- -	0.94	0.79	1.4
Altman's Z-Score	1.34	1.4	1.45	1.31	1.17	1.55	1.31	1.22	1.04	- -	1.04	1.05	0.98	1.09	1.17

Working Capital (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	16.67	17.21	20.11	19.69	17.7	17.87	18.11	17.87	17.34	- -	30.37	16.34	20.41	19.51	20.46
Days Sales Outstanding	21.9	21.21	18.15	18.54	20.63	20.42	20.15	20.43	21.05	- -	12.02	22.34	17.88	18.71	17.84
Inventory Turnover	3.77	4.58	5.05	4.8	4.67	4.95	5.24	5.86	5.7	- -	11.17	4.29	4.37	4.69	6.12
Days Inventory Outstanding	96.78	79.68	72.22	75.97	78.17	73.69	69.66	62.29	64.06	- -	32.69	85.08	83.62	77.74	59.61
Accounts Payable Turnover	8.16	9.44	10.87	9.19	7.58	8.12	8.72	9.46	8.9	-3.03	15.16	8.24	8.64	9.19	9.96
Accounts Payable Turnover Days	44.74	38.67	33.58	39.71	48.17	44.93	41.87	38.6	40.99	-120.35	24.08	44.31	42.24	39.72	36.66
Cash Conversion Cycle	73.94	62.22	56.8	54.8	50.63	49.19	47.95	44.12	44.12	- -	20.63	63.11	59.26	56.74	40.79
Inventory to Cash Days	-74.88	-58.47	-54.08	-57.43	-57.55	-53.27	-49.51	-41.86	-43.01	- -	-20.67	-62.73	-65.73	-59.03	-41.76
Inventories	10	11	12	9	8	9	9	7	7	- -	9	18	13	10	10
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	10	11	12	9	8	9	9	7	7	- -	9	18	13	10	10

Enterprise Value (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	53	62	67	71	88	163	165	195	162	156	163	174	162	225	231
- Cash & Cash Equivalents	9	3	1	1	1	- -	- -	2	- -	- -	2	5	2	1	2
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	28	28	39	40	48	61	70	103	124	- -	140	137	141	149	149
Enterprise Value	72	87	106	109	135	224	235	296	285	156	302	307	301	373	378
Total Capital	75	72	84	86	97	122	138	175	200	- -	222	187	195	208	213
Total Debt/Capital (%)	37.21	39.08	46.69	46.04	49.76	50.15	51.06	59.22	61.81	- -	63.27	73.4	72.31	71.69	69.95
Total Debt / EV	0.39	0.32	0.37	0.36	0.36	0.27	0.3	0.35	0.43	- -	0.47	0.45	0.47	0.4	0.39
EV/Sales	1.22	1.38	1.41	1.61	2.29	3.6	3.59	4.36	4.52	- -	4.01	3.64	3.09	4.4	3.96
EV/EBITDA	5.44	6.5	7.27	7.19	7.99	12.08	12.68	15.44	13.82	- -	12.86	12.72	10.89	13.51	12.63
EV/EBIT	8.15	9.94	10.9	10.94	12.05	18.4	20.51	25.55	22.8	- -	20.41	20.55	17.04	21.82	20.48
EV/Cash Flow to Firm	5.55	7.83	13.25	6.19	8.49	15.83	15.41	16.96	17.9	- -	20.59	16.25	10.73	16.65	11.13
EV/Free Cash Flow to Firm	3.32	4.14	4.65	3.48	3.99	6.42	6.1	7.53	7.34	- -	20.59	16.25	5.64	8.38	6.91
Diluted Market Cap	53	62	67	71	88	164	166	196	162	157	163	174	162	225	231
Diluted Enterprise Value	72	87	106	110	135	225	236	297	286	157	302	307	301	373	378
EV per Share	10.28	12.41	14.92	15.43	18.9	31.07	30.76	36.86	35.12	19.12	36.55	33.6	30.36	36.71	36.67
TTM Sales	59	63	75	68	59	62	66	68	63	- -	75	84	97	85	95
TTM EBITDA	13	13	15	15	17	19	19	19	21	- -	23	24	28	28	30
TTM Operating Income	9	9	10	10	11	12	11	12	13	- -	15	15	18	17	18
TTM Cash Flow to Firm	13	11	8	18	16	14	15	17	16	- -	15	19	28	22	34
TTM Free Cash Flow to Firm	22	21	23	31	34	35	39	39	39	- -	15	19	53	44	55

Multiples (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	2.57	3.11	3.11	2.32	2.67	4.86	4.52	5.34	4.54	- -	14.08	11.22	3.29	5.69	4.66
EV/EBIT	8.15	9.94	10.9	10.94	12.05	18.4	20.51	25.55	22.8	- -	20.41	20.55	17.04	21.82	20.48
Enterprise Value	72	87	106	109	135	224	235	296	285	156	302	307	301	373	378
Low Price	11.33	11.67	12.07	12.85	13.37	15.81	22.16	24.16	22.58	22.08	21.32	18.01	16.51	15.36	19.06
EV/Sales	1.22	1.38	1.41	1.61	2.29	3.6	3.59	4.36	4.52	- -	4.01	3.64	3.09	4.4	3.96
EV/EBITDA	5.44	6.5	7.27	7.19	7.99	12.08	12.68	15.44	13.82	- -	12.86	12.72	10.89	13.51	12.63
Price/Earnings	12.23	14.62	14.24	13.89	15.08	26.16	22.64	22.37	15.32	- -	16.1	- -	14.31	19.1	17.41
Price/Earnings Average	12	14.03	13.64	14.22	14	19.72	22.62	21.14	16.95	- -	16.73	-5.49	17.32	16.38	16.34
Price/Earnings High	21.11	24.19	20.54	23.82	21.34	37.05	33.09	28.65	24.6	- -	22.38	-7.19	21.56	20.46	18.78
Price/Earnings Low	18.38	19.3	18.13	17.89	16.46	18.31	23.23	22.33	17.37	- -	17.42	-5.18	14.5	13.26	14.79
Price/Book Value	1.11	1.43	1.49	1.52	1.8	2.68	2.45	2.73	2.12	- -	1.99	3.51	2.99	3.82	3.61
Price/Book Value Average	1.09	1.37	1.43	1.56	1.67	2.02	2.45	2.58	2.34	- -	2.07	3.51	3.62	3.28	3.39
Price/Book Value High	1.92	2.36	2.15	2.61	2.55	3.79	3.58	3.5	3.4	- -	2.77	4.59	4.51	4.09	3.9
Price/Book Value Low	1.67	1.88	1.9	1.96	1.96	1.87	2.51	2.73	2.4	- -	2.16	3.31	3.03	2.65	3.07
Price/Tangible Book Value	1.04	1.26	1.29	1.34	1.57	2.72	2.08	2.34	1.82	- -	1.63	1.87	1.6	2.08	2.04
Price/Tangible Book Value Average	1.02	1.21	1.23	1.37	1.46	2.05	2.07	2.21	2.01	- -	1.7	1.87	1.94	1.78	1.91
Price/Tangible Book Value High	1.79	2.08	1.86	2.3	2.23	3.85	3.03	3	2.92	- -	2.27	2.45	2.42	2.23	2.2
Price/Tangible Book Value Low	1.56	1.66	1.64	1.72	1.72	1.9	2.13	2.34	2.06	- -	1.76	1.76	1.63	1.44	1.73
Price/Sales	0.89	0.99	0.89	1.04	1.48	2.62	2.52	2.86	2.57	- -	2.16	2.07	1.66	2.65	2.43
Price/Sales Average	0.88	0.95	0.86	1.06	1.38	1.97	2.52	2.7	2.84	- -	2.25	2.07	2.01	2.28	2.28
Price/Sales High	1.54	1.63	1.29	1.78	2.1	3.71	3.68	3.66	4.12	- -	3.01	2.71	2.5	2.84	2.62
Price/Sales Low	1.34	1.3	1.14	1.34	1.62	1.83	2.59	2.86	2.91	- -	2.34	1.95	1.68	1.84	2.06
Price/Cash Flow	4.46	6.21	9.8	4.22	5.87	12.56	12.24	13.24	12.62	- -	14.06	11.22	6.79	12.89	7.99
Price/Cash Flow Average	4.38	5.96	9.39	4.32	5.45	9.47	12.22	12.51	13.97	- -	14.61	11.21	8.22	11.05	7.49
Price/Cash Flow High	7.7	10.27	14.14	7.24	8.3	17.79	17.88	16.96	20.26	- -	19.55	14.67	10.24	13.8	8.61
Price/Cash Flow Low	6.7	8.19	12.48	5.44	6.41	8.79	12.55	13.22	14.31	- -	15.21	10.56	6.88	8.95	6.78
Price/Free Cash Flow Average	2.52	2.99	2.98	2.37	2.48	3.66	4.51	5.05	5.02	- -	14.63	11.21	3.99	4.88	4.37
Price/Free Cash Flow High	4.43	5.15	4.49	3.98	3.78	6.88	6.6	6.85	7.29	- -	19.58	14.67	4.96	6.09	5.02
Price/Free Cash Flow Low	3.86	4.11	3.96	2.99	2.91	3.4	4.63	5.34	5.15	- -	15.23	10.56	3.34	3.95	3.96
EV/Sales Average	1.2	1.34	1.37	1.63	2.18	2.96	3.59	4.2	4.8	- -	4.1	3.64	3.44	4.03	3.81
EV/Sales High	1.87	2.03	1.8	2.35	2.9	4.69	4.75	5.16	6.08	- -	4.86	4.28	3.93	4.59	4.15
EV/Sales Low	1.67	1.7	1.65	1.9	2.42	2.82	3.66	4.35	4.87	- -	4.19	3.52	3.11	3.59	3.6
EV/EBITDA Average	5.36	6.31	7.07	7.3	7.61	9.92	12.67	14.88	14.66	- -	13.13	12.72	12.12	12.35	12.15
EV/EBITDA High	8.33	9.54	9.31	10.51	10.13	15.73	16.79	18.28	18.57	- -	15.57	14.94	13.85	14.08	13.24
EV/EBITDA Low	7.44	7.98	8.53	8.53	8.46	9.44	12.91	15.42	14.87	- -	13.43	12.3	10.97	11.02	11.47
EV/EBIT Average	8.04	9.66	10.61	11.1	11.49	15.11	20.5	24.63	24.17	- -	20.84	20.54	18.97	19.95	19.71
EV/EBIT High	12.49	14.58	13.96	15.99	15.29	23.96	27.16	30.27	30.63	- -	24.7	24.15	21.68	22.76	21.47
EV/EBIT Low	11.16	12.21	12.79	12.97	12.77	14.38	20.89	25.52	24.53	- -	21.31	19.87	17.17	17.8	18.6
Last Price	7.54	8.84	9.48	9.98	12.25	22.59	21.6	24.2	19.92	19.12	19.71	19.12	16.29	22.13	22.44
High Price	13.01	14.63	13.67	17.11	17.33	31.99	31.57	31	31.98	28.85	27.4	25	24.55	23.7	24.2
Enterprise Value Average	71	85	103	111	129	184	235	286	303	168	308	306	335	341	364
Enterprise Value High	110	128	135	160	171	292	312	351	383	236	365	360	383	389	396
Enterprise Value Low	98	107	124	130	143	175	240	296	307	180	315	296	303	304	343

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	7	7	7	7	7	7	8	8	8	- -	8	10	10	10	10
Diluted Weighted Avg Shares	7	7	7	7	7	7	8	8	8	8	8	9	10	10	10
Basic Weighted Avg Shares	7	7	7	7	7	7	8	8	8	8	8	9	10	10	10
Revenue per Share	8.43	8.97	10.61	9.61	8.26	8.63	8.57	8.46	7.76	- -	9.11	9.23	9.82	8.34	9.25
EBITDA per Share	1.89	1.91	2.05	2.15	2.37	2.57	2.43	2.39	2.54	- -	2.84	2.64	2.79	2.72	2.9
Operating Income per Share	1.26	1.25	1.37	1.41	1.57	1.69	1.5	1.44	1.54	- -	1.79	1.64	1.78	1.68	1.79
Basic EPS, GAAP	0.62	0.6	0.67	0.72	0.81	0.86	0.95	1.08	1.3	- -	1.22	-3.48	1.14	1.16	1.29
Basic EPS from Cont Ops	0.62	0.6	0.67	0.72	0.81	0.86	0.95	1.08	1.3	- -	1.22	-3.48	1.14	1.16	1.29
Diluted EPS, GAAP	0.62	0.6	0.67	0.72	0.81	0.86	0.95	1.08	1.3	- -	1.22	-3.48	1.14	1.16	1.29
Diluted EPS from Cont Ops	0.62	0.6	0.67	0.72	0.81	0.86	0.95	1.08	1.3	- -	1.22	-3.48	1.14	1.16	1.29
Dividend per Share	0.46	1.14	0.49	0.51	0.53	0.57	0.61	0.65	0.69	- -	0.73	0.77	0.79	0.8	0.82
Cash Flow per Share	1.69	1.42	0.97	2.36	2.09	1.8	1.77	1.83	1.58	- -	1.4	1.7	2.4	1.72	2.81
Free Cash Flow per Basic Share	0.44	0.01	-1.11	0.42	-0.42	-1.08	-1.28	-0.89	-1.24	- -	1.4	1.7	-0.15	-0.46	0.8
Cash & Equivalents per Share	1.28	0.4	0.12	0.14	0.09	0.01	0.03	0.2	0.04	- -	0.18	0.54	0.15	0.09	0.23
Book Value per Share	6.78	6.19	6.35	6.55	6.8	8.44	8.81	8.85	9.41	- -	9.88	5.44	5.45	5.79	6.21
Tangible Book Value per Share	7.27	7.02	7.35	7.45	7.79	8.32	10.4	10.34	10.94	- -	12.08	10.2	10.15	10.65	11.02

RGC Resources, Inc.

Profitability (USD)

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Per Share Data Items (USD)