BRC Group Holdings, Inc. - Depositary Shares, each representing a 1/1000th fractional interest in a share of Series B Cumulative Perpetual Preferred Stock Financial Ratios — RILYL

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 (%)	- -	- -	- -	- -	- -	- -	140.3	379.89	395.66	165.23	193.65	- -	- -	- -	- -
Return on Assets (%)	0.81	4.49	1.37	-5.46	8.7	10.84	1.4	0.93	3.82	8.24	10.45	-2.67	-1.64	-19.44	17.62
Return on Capital (%)	3.09	7.93	4.8	- -	331	71.52	12.81	10.68	15.77	22.81	25.16	- -	- -	- -	- -
Return on Invested Capital (%)	2.9	8.67	3.1	- -	12.02	23.88	7.23	6.53	11.51	14.61	15.66	- -	- -	- -	- -
Gross Margin (%)	63.57	56.32	53.17	51.31	71.45	70.78	83.53	86.15	84.89	86.17	91.38	75.27	63.17	58.24	69.98
EBITDA Margin (%)	13.26	9.86	7.83	-5.49	20.38	29.9	16.25	16	28.74	37.12	35	8.96	14.81	-32.21	11.62
Operating Margin (%)	11.71	8.87	5.38	-6.33	19.62	27.64	12.79	12.74	25.82	34.8	33.34	4.94	11.38	-36.44	7.98
Incremental Operating Margin (%)	87.92	- -	42.84	- -	76.15	39.23	-8.64	12.57	49.96	66.98	31.65	83.67	25.56	- -	-450.49
Pretax Margin (%)	4.19	7.48	1.68	-11.26	18.9	24.72	6.35	5.04	17.88	33.5	39.54	-33.64	-13.79	-84	23.71
Profit Margin (%)	0.95	4.19	1.39	-7.52	10.49	11.31	3.59	3.67	12.51	24.59	28.63	-16.08	-6.91	-71.3	31.76
Net Income to Common Margin (%)	0.95	4.19	1.39	-7.52	10.49	11.31	3.59	3.67	12.47	24.03	28.15	-16.89	-7.47	-72.05	30.92
Effective Tax Rate (%)	77.39	30.85	55	- -	36.15	30.44	41.62	23.02	29.71	27	26.67	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	-8.27	34	12.14	136.06	131.19	50.16	19.57	77.3	-43.62	-81.12	-3.58	-3.44
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	-50.6	-118.49	197.21	132.88	43.96	- -	- -	- -	- -

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	67	64	63	25	1	28	206	540	867	1,061	2,102	2,546	2,454	1,839	1,469
ST Debt	15	14	15	19	- -	- -	- -	- -	- -	- -	80	128	44	16	7
LT Debt	52	50	49	7	- -	28	206	540	867	1,061	2,022	2,418	2,411	1,823	1,462
Total Debt/EBITDA	8.01	7.75	10.63	-5.93	0.02	0.49	3.93	7.98	4.63	3.43	3.86	28.6	11.46	-5.33	13.06
Net Debt/EBITDA	6.22	5.49	7.47	-0.83	-1.29	-1.48	1.4	5.33	3.74	2.9	3.22	24.47	9.96	-4.73	10.68
Total Debt/EBIT	9.07	8.62	15.47	-5.15	0.02	0.53	4.99	10.03	5.15	3.65	4.06	51.89	14.92	-4.71	19.01
Net Debt/EBIT	7.04	6.1	10.86	-0.72	-1.33	-1.6	1.77	6.7	4.16	3.09	3.38	44.4	12.97	-4.18	15.54
EBITDA to Interest Expense	1.72	3.17	2.24	-3.36	27.49	28.52	6.25	2.03	3.73	4.75	5.89	0.63	1.37	-2.59	1.21
EBITDA-CapEx/Interest Expense	1.62	2.68	1.38	-3.76	26.92	27.79	6.05	1.86	3.66	4.71	5.88	0.6	1.32	-2.65	1.09
EBIT to Interest Expense	1.52	2.85	1.54	-3.87	26.48	26.36	4.92	1.61	3.35	4.45	5.61	0.35	1.05	-2.93	0.83
Interest Expense	5	3	3	1	1	2	8	33	50	65	92	141	156	133	93
Common Equity/Total Assets	-14.65	-9.51	-8.97	-9.27	-4.76	3.74	0.47	0.08	1.71	7.63	4.25	-0.74	-4.63	-60.06	-44.73
Long-Term Debt/Equity (%)	- -	- -	- -	6.77	0.25	18.42	77.44	208.95	222.15	196.87	192.57	353.27	670.43	- -	- -
Long-Term Debt/Capital (%)	92.78	87.93	85.87	53.58	-4.63	71.7	96.98	99.6	92.61	82.22	73.8	88.3	107.54	227.81	193.23
Long-Term Debt/Total Assets (%)	68.39	62.65	66.18	4.73	0.21	10.47	14.84	27.61	37.4	39.85	34.56	39.57	39.64	102.2	85.67
Total Debt/Equity (%)	-817.22	-1,536.57	-1,526.91	25.89	0.5	18.42	77.44	208.95	222.15	196.87	200.19	371.93	682.62	-403.24	-1,221.2
Total Debt/Capital (%)	119.87	111.73	111.62	204.98	-9.26	71.7	96.98	99.6	92.61	82.22	76.72	92.96	109.49	229.85	194.1
Total Debt/Total Assets (%)	88.36	79.61	86.03	18.08	0.41	10.47	14.84	27.61	37.4	39.85	35.93	41.66	40.37	103.12	86.06
Net Debt to Equity	-634.62	-1,087.86	-1,072.39	3.64	-26.96	-56.12	27.47	139.58	179.67	166.37	167.05	318.2	593.4	-358.21	-998.76
Net Debt/Capital (%)	127.02	117.38	117.4	-37.82	82.11	114.88	91.94	99.4	84.29	75.55	71.28	88.18	105.68	250.09	226.62
EBITDA	8	8	6	-4	23	57	52	68	187	310	544	89	214	-345	112
EBITDA-CapEx	8	7	4	-5	22	55	51	62	184	308	544	85	206	-353	101
Operating Income (Loss)	7	7	4	-5	22	53	41	54	168	290	518	49	165	-391	77

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	0.52	0.6	0.72	1.25	3.05	1.6	3.52	2.44	0.51	0.45	0.54	0.49	0.64	0.46	1.02
Current Ratio	2.02	2.04	2.16	2.01	2.6	1.79	3	2.05	2.74	2.49	3.19	2.85	4.39	2.28	2.17
Quick Ratio	1.2	1.14	1.39	1.57	3.59	1.87	4.24	3.09	2.2	2.46	2.48	2.3	2.74	1.17	1.77
CFO/Avg Current Liab	-0.07	0.54	-0.09	-0.8	1.27	1.63	-1.03	-0.77	-0.14	0.27	0.14	0.01	0.05	0.78	-0.22
Common Equity/Total Assets	-14.65	-9.51	-8.97	-9.27	-4.76	3.74	0.47	0.08	1.71	7.63	4.25	-0.74	-4.63	-60.06	-44.73
Long-Term Debt/Equity (%)	- -	- -	- -	6.77	0.25	18.42	77.44	208.95	222.15	196.87	192.57	353.27	670.43	- -	- -
Long-Term Debt/Capital (%)	92.78	87.93	85.87	53.58	-4.63	71.7	96.98	99.6	92.61	82.22	73.8	88.3	107.54	227.81	193.23
Long-Term Debt/Total Assets (%)	68.39	62.65	66.18	4.73	0.21	10.47	14.84	27.61	37.4	39.85	34.56	39.57	39.64	102.2	85.67
Total Debt/Equity (%)	-817.22	-1,536.57	-1,526.91	25.89	0.5	18.42	77.44	208.95	222.15	196.87	200.19	371.93	682.62	-403.24	-1,221.2
Total Debt/Capital (%)	119.87	111.73	111.62	204.98	-9.26	71.7	96.98	99.6	92.61	82.22	76.72	92.96	109.49	229.85	194.1
Total Debt/Total Assets (%)	88.36	79.61	86.03	18.08	0.41	10.47	14.84	27.61	37.4	39.85	35.93	41.66	40.37	103.12	86.06
CFO/Total Liabilities	-2.42	19.13	-3.2	-54.95	137.1	70.28	-7.3	-6.01	-1.41	2.72	1.06	0.12	0.43	11.77	-3.27
CFO/CapEx	-3.87	12.78	-1.09	-45.69	66.26	55.06	-49.57	-18.81	-7.86	28.21	75.29	1.7	3.18	33.14	-5.28
Altman's Z-Score	1.53	1.83	1.72	0.75	2.27	2.6	0.53	0.51	0.9	1.11	0.92	0.44	0.56	-0.98	0.39

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	11.64	6.94	6.15	8.66	12.14	14.47	17.43	14.35	15.6	19.57	34.37	10	11.56	12.63	15.6
Days Sales Outstanding	31.36	52.57	59.33	42.14	30.05	25.23	20.95	25.44	23.4	18.65	10.62	36.5	31.58	28.89	23.4
Inventory Turnover	41.69	16.4	16.55	15.83	10.34	13.64	3.74	1.15	1.22	1.36	2.94	4.65	5.02	4.75	4.17
Days Inventory Outstanding	8.75	22.26	22.06	23.05	35.28	26.77	97.47	317.96	298.7	267.46	124.29	78.45	72.67	76.8	87.6
Accounts Payable Turnover	3.54	2.54	2.34	6.38	27.74	30.81	26.13	27.84	19.93	33.56	11.21	7.83	8.63	8.73	5.91
Accounts Payable Turnover Days	103.24	143.53	156.28	57.25	13.16	11.85	13.97	13.11	18.31	10.87	32.57	46.6	42.3	41.83	61.77
Cash Conversion Cycle	-63.12	-68.71	-74.89	7.95	52.18	40.15	104.45	330.28	303.78	275.24	102.34	68.35	61.96	63.86	49.23
Inventory to Cash Days	22.61	30.31	37.28	19.09	-5.23	-1.54	-76.53	-292.51	-275.3	-248.82	-113.67	-41.95	-41.09	-47.91	-64.2
Inventories	1	3	1	4	2	6	23	79	82	87	4	102	110	78	61
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	17	15	13
Other Inventory	1	3	1	4	2	6	23	79	82	87	4	102	94	63	48

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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Cash & Cash Equivalents	15	19	19	22	30	112	133	179	104	104	279	269	223	147	227
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	1	- -	- -	- -	1	- -	1	30	26	389	238	68	32	51
+ Total Debt	67	64	63	25	1	28	206	540	867	1,061	2,102	2,546	2,454	1,839	1,469
Enterprise Value	52	46	45	-14	-55	-100	-73	88	792	984	2,212	2,515	2,300	1,724	1,293
Total Capital	56	57	57	12	-6	39	212	543	936	1,291	2,740	2,739	2,242	800	757
Total Debt/Capital (%)	119.87	111.73	111.62	204.98	-9.26	71.7	96.98	99.6	92.61	82.22	76.72	92.96	109.49	229.85	194.1
Total Debt / EV	1.29	1.38	1.42	-1.74	-0.01	-0.28	-2.84	6.14	1.09	1.08	0.95	1.01	1.07	1.07	1.14
EV/Sales	0.83	0.55	0.58	- -	- -	- -	- -	0.21	1.21	1.18	1.42	2.53	1.59	1.61	1.34
EV/EBITDA	6.23	5.6	7.47	- -	- -	- -	- -	1.3	4.23	3.18	4.07	28.25	10.74	- -	11.5
EV/EBIT	7.05	6.23	10.87	- -	- -	- -	- -	1.63	4.71	3.39	4.27	51.27	13.98	- -	16.74
EV/Cash Flow to Firm	- -	2.57	- -	- -	- -	- -	- -	- -	97.94	9.34	18.64	20.94	15.33	4.31	34.94
EV/Free Cash Flow to Firm	- -	2.4	44.88	- -	- -	- -	- -	- -	68.59	9.16	18.53	20.28	14.58	4.23	26.76
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Enterprise Value	52	46	45	4	-30	-83	73	362	792	984	2,212	2,515	2,300	1,724	1,293
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Sales	64	84	76	77	113	190	322	423	652	834	1,555	994	1,446	1,072	968
TTM EBITDA	8	8	6	-4	23	57	52	68	187	310	544	89	214	-345	112
TTM Operating Income	7	7	4	-5	22	53	41	54	168	290	518	49	165	-391	77
TTM Cash Flow to Firm	-1	18	-1	-22	32	82	-77	-76	8	105	119	120	150	400	37
TTM Free Cash Flow to Firm	- -	19	1	-22	33	83	-75	-71	12	107	119	124	158	408	48

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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	7.05	6.23	10.87	- -	- -	- -	- -	1.63	4.71	3.39	4.27	51.27	13.98	- -	16.74
Enterprise Value	52	46	45	-14	-55	-100	-73	88	792	984	2,212	2,515	2,300	1,724	1,293
Low Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	23.9	26.05	21	16.35	4.11	1.77
EV/Sales	0.83	0.55	0.58	- -	- -	- -	- -	0.21	1.21	1.18	1.42	2.53	1.59	1.61	1.34
EV/EBITDA	6.23	5.6	7.47	- -	- -	- -	- -	1.3	4.23	3.18	4.07	28.25	10.74	- -	11.5
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales Average	0.83	0.55	0.58	0.05	- -	- -	0.23	0.85	1.21	1.18	1.42	2.53	1.59	1.61	1.34
EV/Sales High	0.83	0.55	0.58	0.05	- -	- -	0.23	0.85	1.21	1.18	1.42	2.53	1.59	1.61	1.34
EV/Sales Low	0.83	0.55	0.58	0.05	- -	- -	0.23	0.85	1.21	1.18	1.42	2.53	1.59	1.61	1.34
EV/EBITDA Average	6.23	5.6	7.47	-0.84	-1.29	-1.46	1.39	5.34	4.23	3.18	4.07	28.25	10.74	-4.99	11.5
EV/EBITDA High	6.23	5.6	7.47	-0.84	-1.29	-1.46	1.39	5.34	4.23	3.18	4.07	28.25	10.74	-4.99	11.5
EV/EBITDA Low	6.23	5.6	7.47	-0.84	-1.29	-1.46	1.39	5.34	4.23	3.18	4.07	28.25	10.74	-4.99	11.5
EV/EBIT Average	7.05	6.23	10.87	-0.73	-1.34	-1.58	1.77	6.71	4.71	3.39	4.27	51.27	13.98	-4.41	16.74
EV/EBIT High	7.05	6.23	10.87	-0.73	-1.34	-1.58	1.77	6.71	4.71	3.39	4.27	51.27	13.98	-4.41	16.74
EV/EBIT Low	7.05	6.23	10.87	-0.73	-1.34	-1.58	1.77	6.71	4.71	3.39	4.27	51.27	13.98	-4.41	16.74
Last Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	26.34	27.27	24.79	20	6.15	5
High Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	26.63	28.83	27.53	25.1	23.15	9.43
Enterprise Value Average	52	46	45	4	-30	-83	73	362	792	984	2,212	2,515	2,300	1,724	1,293
Enterprise Value High	52	46	45	4	-30	-83	73	362	792	984	2,212	2,515	2,300	1,724	1,293
Enterprise Value Low	52	46	45	4	-30	-83	73	362	792	984	2,212	2,515	2,300	1,724	1,293

	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	2	2	2	16	16	19	27	27	27	26	28	29	30	30	31
Diluted Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Revenue per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow per Basic Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash & Equivalents per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Tangible Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

BRC Group Holdings, Inc. - Depositary Shares, each representing a 1/1000th fractional interest in a share of Series B Cumulative Perpetual Preferred Stock

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