The Rowe Companies, Inc. Financial Ratios — ROWC Stock

Profitability (USD)

	1991 Y	1992 Y	1993 Y	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y
Return on Common Equity (%)	-3.89	11.34	44.54	60.18	48	33.73	23.77	27.12	26.18	6.63	-12.25	4.23	5.08	2.01	-10.86
Return on Assets (%)	-1.38	3.89	12.72	14.9	13.57	11.61	9.84	12.86	9.96	2.13	-3.87	1.23	1.68	0.77	-3.88
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	3.8	14.75	18.44	10.07	15.46	12.97	17.43	15.37	9.29	- -	- -	2.4	2.41	- -
Gross Margin (%)	21.94	25.03	27.08	27.52	26.18	28.1	28.94	29.66	33.71	37.16	33.59	35.55	35.97	35.08	31.38
EBITDA Margin (%)	0.78	4.49	8.76	10.16	6.65	8.97	7.98	11.7	10.84	7.54	-1.13	4.02	4.61	3.37	-3.02
Operating Margin (%)	-1.88	2.04	6.85	8.45	4.88	7.22	6.04	9.59	8.6	5.08	-4.32	0.71	2.02	1.15	-5.07
Incremental Operating Margin (%)	- -	27.84	29.68	14.86	-24.09	23.6	-114.29	23.69	6.74	-8.51	- -	5,522.86	40.16	-13.23	- -
Pretax Margin (%)	-1.25	2.99	7.98	9.62	9.29	7.99	6.87	10.03	8.53	4.26	-4.76	-1.48	0.73	0.52	-5.7
Profit Margin (%)	-0.78	1.9	5.73	6.12	5.76	4.98	4.37	6.21	5.02	1.02	-2.3	0.75	0.91	0.35	-1.77
Net Income to Common Margin (%)	-0.78	1.9	5.73	6.12	5.76	4.98	4.37	6.21	5.02	1.02	-2.3	0.75	0.91	0.35	-1.77
Effective Tax Rate (%)	- -	36.36	35.21	36.45	37.93	37.72	36.36	38.12	36.86	39.85	- -	- -	52.95	37.21	- -
Dvd Payout Ratio (%)	-80	28.57	10.87	11.76	15.28	15.49	20.63	13.39	11.41	20.7	-16.67	- -	- -	- -	- -
Sustainable Growth Rate (%)	-7	8.1	39.7	53.1	40.67	28.5	18.87	23.49	23.19	5.26	-14.29	4.23	5.08	2.01	-10.86

Credit (USD)

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	1991 Y	1992 Y	1993 Y	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y
Total Debt	6	5	4	4	3	4	2	36	59	60	68	82	38	35	34
ST Debt	1	1	1	3	3	4	2	3	5	7	16	19	3	2	- -
LT Debt	5	4	3	1	1	- -	- -	34	55	53	52	63	34	33	34
Total Debt/EBITDA	11.8	1.52	0.45	0.36	0.39	0.31	0.15	1.73	1.97	2.28	-22.49	7.61	2.93	3.51	-3.78
Net Debt/EBITDA	7.6	0.88	0.22	0.32	0.35	0.16	0.07	1.61	1.8	2.16	-19.39	7.58	2.64	2.95	-3.67
Total Debt/EBIT	-4.92	3.33	0.57	0.44	0.52	0.39	0.2	2.1	2.49	3.39	-5.9	42.87	6.69	10.27	-2.25
Net Debt/EBIT	-3.17	1.93	0.28	0.38	0.48	0.2	0.09	1.96	2.27	3.2	-5.08	42.72	6.03	8.64	-2.18
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	35.71	32.97	24.77	24.74	31.21	37.33	45.53	48.51	31.2	32.99	30.14	28	39.8	36.99	34.42
Long-Term Debt/Equity (%)	25.52	19.31	10.84	2.79	1.69	- -	- -	74.78	99.82	95.2	111.56	130.01	66.09	62.73	71.81
Long-Term Debt/Capital (%)	26.63	22.67	19.01	5.62	2.82	- -	- -	37.56	48.84	46.14	45.21	48.44	38.56	38.26	42.53
Long-Term Debt/Total Assets (%)	14	10.54	6.25	1.87	1.03	- -	- -	30.59	32.38	32.06	33.59	36.42	26.59	23.75	25.47
Total Debt/Equity (%)	30.73	24.75	14.06	12.69	8.99	9.95	4.3	80.53	108.23	108.37	146.63	168.4	72.47	66.27	71.81
Total Debt/Capital (%)	32.07	29.07	24.65	25.62	15.02	14.29	5.54	40.44	52.95	52.52	59.42	62.75	42.28	40.42	42.53
Total Debt/Total Assets (%)	16.86	13.51	8.1	8.52	5.52	6.22	2.67	32.94	35.11	36.49	44.14	47.17	29.16	25.09	25.47
Net Debt to Equity	19.79	14.36	6.83	11.15	8.15	5.22	2.03	75	98.9	102.25	126.38	167.84	65.33	55.72	69.7
Net Debt/Capital (%)	23.31	19.21	13.71	23.23	13.81	8.05	2.68	38.74	50.7	51.07	55.8	62.67	39.77	36.32	41.8
EBITDA	- -	3	8	11	8	13	12	21	30	26	-3	11	13	10	-9
EBITDA-CapEx	- -	2	7	6	-2	9	8	4	12	17	-6	7	9	6	-17
Operating Income (Loss)	-1	2	6	9	6	10	9	17	24	18	-12	2	6	3	-15

Liquidity (USD)

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	1991 Y	1992 Y	1993 Y	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y
Cash Ratio	0.27	0.21	0.13	0.04	0.02	0.1	0.05	0.1	0.09	0.07	0.19	- -	0.09	0.13	0.03
Current Ratio	2.25	2.09	2.01	2.26	1.84	1.91	1.9	2.2	1.63	1.61	1.65	1.23	1.6	1.66	1.71
Quick Ratio	1.27	1.29	1.23	1.32	1.07	1.24	1.12	1.26	0.8	0.68	0.73	0.44	0.59	0.52	0.45
CFO/Avg Current Liab	0.36	0.25	0.21	0.16	0.55	0.37	0.57	0.13	0.3	0.27	-0.03	0.38	0.22	0.19	-0.28
Common Equity/Total Assets	35.71	32.97	24.77	24.74	31.21	37.33	45.53	48.51	31.2	32.99	30.14	28	39.8	36.99	34.42
Long-Term Debt/Equity (%)	25.52	19.31	10.84	2.79	1.69	- -	- -	74.78	99.82	95.2	111.56	130.01	66.09	62.73	71.81
Long-Term Debt/Capital (%)	26.63	22.67	19.01	5.62	2.82	- -	- -	37.56	48.84	46.14	45.21	48.44	38.56	38.26	42.53
Long-Term Debt/Total Assets (%)	14	10.54	6.25	1.87	1.03	- -	- -	30.59	32.38	32.06	33.59	36.42	26.59	23.75	25.47
Total Debt/Equity (%)	30.73	24.75	14.06	12.69	8.99	9.95	4.3	80.53	108.23	108.37	146.63	168.4	72.47	66.27	71.81
Total Debt/Capital (%)	32.07	29.07	24.65	25.62	15.02	14.29	5.54	40.44	52.95	52.52	59.42	62.75	42.28	40.42	42.53
Total Debt/Total Assets (%)	16.86	13.51	8.1	8.52	5.52	6.22	2.67	32.94	35.11	36.49	44.14	47.17	29.16	25.09	25.47
CFO/Total Liabilities	18.99	13.1	13.66	13.92	38.39	29.05	46.28	4.59	10.62	13.19	-1.6	16.05	13.86	8.88	-13.58
CFO/CapEx	3.75	2.75	2.78	0.44	0.8	1.79	3.39	0.17	0.68	1.57	-0.52	6.06	2.68	2.02	-1.4
Altman's Z-Score	3.05	3.77	5.45	6.87	5.02	6.19	5.79	4.56	3.83	3.91	2.56	2.65	3.53	3.55	2.92

Working Capital (USD)

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	1991 Y	1992 Y	1993 Y	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y
Accounts Receivable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	22.56	9.88	11.25	12.69	16.38	18.61
Days Sales Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	16.18	36.93	32.46	28.76	22.29	19.61
Inventory Turnover	7.72	8.41	8.06	7.83	7.78	8.27	7.61	6.82	5.73	5.29	4.34	4.43	5.12	5.46	5.11
Days Inventory Outstanding	47.27	43.39	45.27	46.64	46.91	44.11	47.94	53.5	63.75	68.93	84.18	82.36	71.25	66.82	71.47
Accounts Payable Turnover	8.68	9.11	8.37	9.83	9.67	8.96	8.46	8.89	8.93	8.25	9.15	12.65	14.33	10.62	8.55
Accounts Payable Turnover Days	42.03	40.04	43.59	37.12	37.75	40.73	43.14	41.07	40.89	44.22	39.87	28.85	25.47	34.37	42.69
Cash Conversion Cycle	5.24	3.34	1.68	9.53	9.16	3.38	4.81	12.43	22.86	40.9	81.24	85.97	74.54	54.74	48.39
Inventory to Cash Days	-47.27	-43.39	-45.27	-46.64	-46.91	-44.11	-47.94	-53.5	-63.75	-52.75	-47.25	-49.9	-42.49	-44.53	-51.86
Inventories	6	7	9	11	12	12	14	23	41	41	41	37	32	38	43
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	16	13	8	11	11
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	4	4	3	4	3
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3	2	2	2	3
Other Inventory	6	7	9	11	12	12	14	23	41	41	18	18	19	21	26

Enterprise Value (USD)

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	1991 Y	1992 Y	1993 Y	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y
Market Capitalization	13	24	67	83	66	104	85	131	124	37	17	29	38	67	35
- Cash & Cash Equivalents	2	2	2	- -	- -	2	1	2	5	3	9	- -	4	6	1
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	6	5	4	4	3	4	2	36	59	60	68	82	38	35	34
Enterprise Value	17	26	68	87	69	106	86	165	179	94	76	111	72	96	68
Total Capital	18	17	14	16	21	28	31	90	112	114	115	131	89	86	80
Total Debt/Capital (%)	32.07	29.07	24.65	25.62	15.02	14.29	5.54	40.44	52.95	52.52	59.42	62.75	42.28	40.42	42.53
Total Debt / EV	0.35	0.19	0.05	0.05	0.05	0.04	0.02	0.22	0.33	0.64	0.9	0.74	0.52	0.36	0.5
EV/Sales	0.26	0.36	0.77	0.78	0.55	0.74	0.6	0.92	0.65	0.27	0.28	0.41	0.26	0.33	0.23
EV/EBITDA	33.79	8.02	8.77	7.68	8.34	8.26	7.47	7.83	5.95	3.56	- -	10.24	5.63	9.64	- -
EV/EBIT	- -	17.65	11.21	9.23	11.35	10.26	9.88	9.55	7.5	5.29	- -	57.67	12.84	28.25	- -
EV/Cash Flow to Firm	5.63	12.03	27.35	39.42	8.05	15.1	7.67	55.06	14.76	6.51	- -	5.49	6.76	12.51	- -
EV/Free Cash Flow to Firm	4.45	8.82	20.11	12.05	3.59	9.7	5.93	8.1	5.99	3.98	48.04	4.72	4.92	8.37	- -
Diluted Market Cap	13	24	69	85	68	107	89	136	132	37	17	29	38	68	35
Diluted Enterprise Value	17	26	70	89	71	109	90	170	186	94	76	111	72	98	68
EV per Share	1.01	1.89	4.56	5.61	4.63	7.19	6.14	12.08	13.36	7.12	5.79	8.41	5.49	7.27	5.1
TTM Sales	64	74	89	111	125	143	144	180	277	348	269	269	278	295	299
TTM EBITDA	- -	3	8	11	8	13	12	21	30	26	-3	11	13	10	-9
TTM Operating Income	-1	2	6	9	6	10	9	17	24	18	-12	2	6	3	-15
TTM Cash Flow to Firm	3	2	2	2	9	7	11	3	12	14	-2	20	11	8	-12
TTM Free Cash Flow to Firm	4	3	3	7	19	11	14	20	30	24	2	23	15	11	-3

Multiples (USD)

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	1991 Y	1992 Y	1993 Y	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y
Price/Free Cash Flow	3.45	7.86	20.2	11.81	3.5	9.81	6.14	6.67	4.43	1.57	10.78	1.23	2.62	5.97	-10.33
EV/EBIT	- -	17.65	11.21	9.23	11.35	10.26	9.88	9.55	7.5	5.29	- -	57.67	12.84	28.25	- -
Enterprise Value	17	26	68	87	69	106	86	165	179	94	76	111	72	96	68
Low Price	0.52	0.63	1.66	4.39	3.18	3.52	5.57	6.02	7.61	2.81	0.82	1.05	1.55	2.91	2.25
EV/Sales	0.26	0.36	0.77	0.78	0.55	0.74	0.6	0.92	0.65	0.27	0.28	0.41	0.26	0.33	0.23
EV/EBITDA	33.79	8.02	8.77	7.68	8.34	8.26	7.47	7.83	5.95	3.56	- -	10.24	5.63	9.64	- -
Price/Earnings	- -	16.83	13.07	12.22	9.21	14.59	13.51	11.72	8.95	10.44	- -	14.19	15.05	64.58	- -
Price/Earnings Average	-24.22	10.3	8.54	15.36	8.85	10.15	15.84	9.97	9.38	20.38	-5.98	16.21	11.19	61.03	-9.62
Price/Earnings High	-32.18	17.96	14.11	26.52	11.58	16.95	19.7	12.21	12.24	36.42	-9.02	26.69	16.24	79.93	-13.4
Price/Earnings Low	-17.21	6.29	4.89	9.99	6.61	7.3	12.37	7.35	7.32	10.44	-1.74	6.84	8.02	37.22	-5.64
Price/Book Value	1.05	1.93	6.23	6.99	3.67	4.32	2.94	2.45	2.37	0.68	0.37	0.59	0.75	1.3	0.75
Price/Book Value Average	0.97	1.18	4.07	8.78	3.52	3	3.44	2.08	2.48	1.33	0.79	0.67	0.55	1.22	1.11
Price/Book Value High	1.29	2.06	6.73	15.15	4.6	5.01	4.28	2.55	3.23	2.38	1.19	1.1	0.81	1.6	1.54
Price/Book Value Low	0.69	0.72	2.33	5.71	2.63	2.16	2.69	1.54	1.93	0.68	0.23	0.28	0.4	0.75	0.65
Price/Tangible Book Value	0.68	1.17	2.68	2.57	1.86	2.58	2.15	4.03	4.64	1.48	0.97	3.47	0.99	1.69	1
Price/Tangible Book Value Average	0.63	0.71	1.75	3.23	1.79	1.79	2.53	3.43	4.86	2.88	2.1	3.97	0.74	1.59	1.48
Price/Tangible Book Value High	0.84	1.24	2.89	5.58	2.34	2.99	3.14	4.19	6.35	5.15	3.17	6.53	1.07	2.09	2.07
Price/Tangible Book Value Low	0.45	0.44	1	2.1	1.34	1.29	1.97	2.53	3.8	1.48	0.61	1.67	0.53	0.97	0.87
Price/Sales	0.21	0.32	0.75	0.75	0.53	0.73	0.59	0.73	0.45	0.11	0.06	0.11	0.14	0.23	0.12
Price/Sales Average	0.19	0.2	0.49	0.94	0.51	0.51	0.69	0.62	0.47	0.21	0.14	0.12	0.1	0.21	0.17
Price/Sales High	0.25	0.34	0.81	1.62	0.67	0.84	0.86	0.76	0.61	0.37	0.21	0.2	0.15	0.28	0.24
Price/Sales Low	0.13	0.12	0.28	0.61	0.38	0.36	0.54	0.46	0.37	0.11	0.04	0.05	0.07	0.13	0.1
Price/Cash Flow	4.36	10.71	26.67	37.79	7.71	14.8	7.6	43.76	10.29	2.57	-9.85	1.42	3.59	8.69	-2.94
Price/Cash Flow Average	4.04	6.55	17.43	47.48	7.41	10.3	8.91	37.23	10.78	5.02	-21.35	1.63	2.66	8.21	-4.34
Price/Cash Flow High	5.36	11.43	28.79	81.96	9.69	17.19	11.08	45.57	14.06	8.96	-32.21	2.68	3.87	10.75	-6.04
Price/Cash Flow Low	2.87	4	9.97	30.87	5.54	7.4	6.96	27.45	8.41	2.57	-6.22	0.69	1.91	5	-2.54
Price/Free Cash Flow Average	3.19	4.81	13.2	14.84	3.36	6.83	7.2	5.68	4.64	3.07	23.35	1.4	1.95	5.64	-15.27
Price/Free Cash Flow High	4.23	8.38	21.81	25.62	4.4	11.4	8.96	6.95	6.06	5.48	35.24	2.31	2.82	7.39	-21.27
Price/Free Cash Flow Low	2.26	2.93	7.55	9.65	2.52	4.91	5.63	4.19	3.62	1.57	6.8	0.59	1.39	3.44	-8.94
EV/Sales Average	0.25	0.24	0.51	0.97	0.53	0.52	0.7	0.81	0.67	0.37	0.36	0.43	0.22	0.31	0.28
EV/Sales High	0.31	0.38	0.83	1.65	0.69	0.86	0.87	0.95	0.81	0.53	0.43	0.5	0.27	0.38	0.35
EV/Sales Low	0.19	0.16	0.3	0.64	0.4	0.38	0.55	0.64	0.56	0.27	0.26	0.36	0.2	0.23	0.21
EV/EBITDA Average	31.82	5.25	5.8	9.56	8.02	5.8	8.75	6.9	6.15	4.9	-31.54	10.61	4.86	9.27	-9.32
EV/EBITDA High	39.78	8.5	9.44	16.27	10.39	9.57	10.86	8.09	7.47	7.07	-37.73	12.57	5.86	11.23	-11.54
EV/EBITDA Low	24.81	3.55	3.41	6.33	6.09	4.21	6.85	5.51	5.2	3.56	-22.92	8.86	4.23	6.81	-6.98
EV/EBIT Average	-13.26	11.55	7.42	11.5	10.92	7.2	11.56	8.42	7.75	7.28	-8.27	59.8	11.09	27.17	-5.55
EV/EBIT High	-16.57	18.69	12.08	19.56	14.14	11.89	14.36	9.86	9.42	10.49	-9.89	70.84	13.38	32.91	-6.86
EV/EBIT Low	-10.34	7.8	4.36	7.61	8.28	5.23	9.05	6.72	6.55	5.29	-6.01	49.92	9.66	19.94	-4.15
Last Price	0.79	1.68	4.44	5.38	4.43	7.04	6.08	9.6	9.31	2.81	1.3	2.18	2.91	5.05	2.6
High Price	0.97	1.8	4.8	11.67	5.57	8.18	8.86	10	12.73	9.81	4.25	4.1	3.14	6.25	5.35
Enterprise Value Average	16	17	45	108	67	74	101	146	184	129	96	115	62	92	84
Enterprise Value High	20	28	74	184	86	122	125	171	224	186	115	136	75	112	104
Enterprise Value Low	12	12	27	72	51	54	79	116	156	94	70	96	54	68	63

	1991 Y	1992 Y	1993 Y	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y
Shares Outstanding	14	14	15	15	15	14	14	14	13	13	13	13	13	13	13
Diluted Weighted Avg Shares	17	14	15	16	15	15	15	14	14	13	13	13	13	14	13
Basic Weighted Avg Shares	17	14	15	15	15	15	14	14	13	13	13	13	13	13	13
Revenue per Share	3.83	5.25	5.93	7.2	8.34	9.7	10.29	13.19	20.71	26.49	20.47	20.46	21.14	22.37	22.53
EBITDA per Share	0.03	0.24	0.52	0.73	0.55	0.87	0.82	1.54	2.24	2	-0.23	0.82	0.97	0.75	-0.68
Operating Income per Share	-0.07	0.11	0.41	0.61	0.41	0.7	0.62	1.27	1.78	1.35	-0.88	0.15	0.43	0.26	-1.14
Basic EPS, GAAP	-0.03	0.1	0.34	0.44	0.48	0.48	0.45	0.82	1.04	0.27	-0.47	0.15	0.19	0.08	-0.4
Basic EPS from Cont Ops	-0.03	0.1	0.31	0.44	0.48	0.48	0.45	0.82	1.11	0.68	-0.63	-0.21	0.07	0.07	-0.74
Diluted EPS, GAAP	-0.03	0.1	0.33	0.43	0.47	0.47	0.43	0.79	0.98	0.27	-0.47	0.15	0.19	0.08	-0.4
Diluted EPS from Cont Ops	-0.03	0.1	0.3	0.43	0.47	0.47	0.43	0.79	1.05	0.68	-0.63	-0.21	0.07	0.07	-0.74
Dividend per Share	0.02	0.03	0.03	0.05	0.07	0.07	0.09	0.11	0.13	0.14	0.1	- -	- -	- -	- -
Cash Flow per Share	0.18	0.16	0.17	0.14	0.57	0.48	0.8	0.22	0.91	1.09	-0.13	1.53	0.81	0.58	-0.89
Free Cash Flow per Basic Share	0.13	0.1	0.11	-0.18	-0.14	0.21	0.56	-1.05	-0.42	0.4	-0.38	1.28	0.51	0.29	-1.52
Cash & Equivalents per Share	0.13	0.15	0.12	0.03	0.02	0.13	0.06	0.18	0.38	0.26	0.72	0.02	0.28	0.42	0.08
Book Value per Share	0.75	0.87	0.71	0.77	1.21	1.63	2.07	3.92	3.94	4.13	3.56	3.71	3.9	3.9	3.48
Tangible Book Value per Share	1.15	1.44	1.66	2.09	2.38	2.73	2.82	2.38	2.01	1.91	1.34	0.63	2.94	2.99	2.59

The Rowe Companies, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)