Roadrunner Transportation Systems, Inc. Financial Ratios — RRTS

Profitability (USD)

	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y
Return on Common Equity (%)	- -	- -	- -	156.42	77.76	50.15	26.21	17.5	- -	- -	- -	- -
Return on Assets (%)	- -	-0.01	1.05	5.8	6.03	5.84	3.08	2	-32.15	-10.08	-19.15	-44.75
Return on Capital (%)	- -	-0.77	9.73	29.91	21.52	18.99	6.37	3.73	- -	- -	- -	- -
Return on Invested Capital (%)	- -	-0.41	7.1	8.2	8.74	8.3	4.14	2.72	- -	- -	- -	- -
Gross Margin (%)	19.58	21.61	11.55	15.54	17.74	18.35	18.15	19.42	16.96	15.6	15.58	12.38
EBITDA Margin (%)	2.44	3.6	5.64	6.3	7.53	7.15	5.07	4.86	0.52	-1.37	-0.39	-4.42
Operating Margin (%)	1.99	2.84	5.04	5.63	6.5	5.85	3.66	3.16	-1.48	-3.23	-2.36	-7.66
Incremental Operating Margin (%)	- -	-5.63	12.17	7.4	9.67	3.46	-2.17	-4.75	- -	- -	- -	- -
Pretax Margin (%)	-0.98	0.06	0.9	4.95	5.68	5.21	2.83	2.16	-20.98	-5.56	-7.92	-18.65
Profit Margin (%)	-0.71	- -	0.57	3.07	3.5	3.37	1.75	1.29	-17.72	-4.36	-7.47	-18.45
Net Income to Common Margin (%)	-0.71	-0.81	0.45	3.07	3.5	3.37	1.75	1.29	-17.72	-4.36	-7.47	-18.45
Effective Tax Rate (%)	- -	107.32	36.99	38.11	38.39	35.3	38.23	40.32	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	99.41	-27.07	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	156.42	77.76	50.15	26.21	17.5	- -	- -	- -	- -

Credit (USD)

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	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y
Total Debt	99	139	20	136	162	193	844	857	446	209	220	404
ST Debt	6	9	- -	14	17	11	424	433	446	12	26	66
LT Debt	93	130	20	122	144	182	420	424	- -	197	193	338
Total Debt/EBITDA	7.53	7.98	0.57	2.57	2	1.98	8.89	8.85	42.01	-7.3	-25.21	-4.94
Net Debt/EBITDA	7.49	7.85	0.55	2.51	1.85	1.92	8.78	8.77	39.23	-6.07	-18.08	-2.45
Total Debt/EBIT	9.24	10.11	0.64	2.87	2.32	2.42	12.3	13.62	-14.8	-3.1	-4.2	-2.85
Net Debt/EBIT	9.2	9.95	0.61	2.8	2.15	2.35	12.14	13.49	-13.82	-2.57	-3.02	-1.41
EBITDA to Interest Expense	1.06	1.3	4.48	12.85	10.13	12.35	7.1	4.98	0.46	-0.45	-0.07	-4
EBITDA-CapEx/Interest Expense	1.02	1.3	4.48	12.85	10.13	12.35	7.1	4.98	0.46	-0.45	-0.07	-4
EBIT to Interest Expense	0.87	1.02	4	11.49	8.74	10.11	5.14	3.24	-1.32	-1.05	-0.45	-6.93
Interest Expense	12	13	8	4	8	8	13	19	23	64	117	20
Common Equity/Total Assets	-0.24	-0.03	1.03	5.42	9.57	13.31	10.68	12.17	-21.54	-33.37	-53.59	-119.03
Long-Term Debt/Equity (%)	82.82	93.21	7.72	41.39	36.85	36.31	80.11	76.27	- -	177.39	- -	605.34
Long-Term Debt/Capital (%)	84.68	85.2	85.06	73.8	63.23	58.86	42.97	41.75	- -	-235.92	-81.35	-85.71
Long-Term Debt/Total Assets (%)	36.48	39.06	5.89	22.53	20.62	20.84	33.58	32.45	- -	22.45	22.65	50.41
Total Debt/Equity (%)	87.7	99.49	7.72	46.12	41.19	38.5	160.97	154.06	225.65	188.53	-421.31	723
Total Debt/Capital (%)	89.67	90.94	85.06	82.24	70.66	62.4	86.34	84.34	182.28	-250.74	-92.45	-102.37
Total Debt/Total Assets (%)	38.63	41.69	5.89	25.1	23.04	22.09	67.48	65.55	47.73	23.85	25.75	60.21
Net Debt to Equity	87.26	97.93	7.34	45	38.15	37.41	158.91	152.63	210.71	156.71	-302.15	358.19
Net Debt/Capital (%)	89.62	90.81	84.41	81.88	69.05	61.73	86.18	84.22	193.58	-159.3	-63.33	-50.11
EBITDA	13	17	36	53	81	97	95	97	11	-29	-9	-82
EBITDA-CapEx	13	17	36	53	81	97	95	97	11	-29	-9	-82
Operating Income (Loss)	11	14	32	48	70	80	69	63	-30	-67	-52	-141

Liquidity (USD)

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	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y
Cash Ratio	0.01	0.04	0.02	0.04	0.12	0.05	0.02	0.01	0.04	0.09	0.04	0.02
Current Ratio	1.32	1.35	1.87	1.48	1.63	1.92	0.57	0.55	0.55	1.39	1.18	0.96
Quick Ratio	1.1	1.15	1.53	1.19	1.33	1.59	0.49	0.46	0.5	1.26	0.97	0.82
CFO/Avg Current Liab	- -	0.02	0.04	0.48	0.39	0.32	0.1	0.11	0.04	-0.09	0.02	-0.34
Common Equity/Total Assets	-0.24	-0.03	1.03	5.42	9.57	13.31	10.68	12.17	-21.54	-33.37	-53.59	-119.03
Long-Term Debt/Equity (%)	82.82	93.21	7.72	41.39	36.85	36.31	80.11	76.27	- -	177.39	- -	605.34
Long-Term Debt/Capital (%)	84.68	85.2	85.06	73.8	63.23	58.86	42.97	41.75	- -	-235.92	-81.35	-85.71
Long-Term Debt/Total Assets (%)	36.48	39.06	5.89	22.53	20.62	20.84	33.58	32.45	- -	22.45	22.65	50.41
Total Debt/Equity (%)	87.7	99.49	7.72	46.12	41.19	38.5	160.97	154.06	225.65	188.53	-421.31	723
Total Debt/Capital (%)	89.67	90.94	85.06	82.24	70.66	62.4	86.34	84.34	182.28	-250.74	-92.45	-102.37
Total Debt/Total Assets (%)	38.63	41.69	5.89	25.1	23.04	22.09	67.48	65.55	47.73	23.85	25.75	60.21
CFO/Total Liabilities	-0.08	0.4	2.55	13.39	11.89	9.06	5.13	9.24	3.92	-5.95	0.62	-15.8
CFO/CapEx	-0.23	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	8.31	6.21	10.52	7.52	7.09	7.51	4.6	4.07	2.63	3.07	2.7	0.75

Working Capital (USD)

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	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y
Accounts Receivable Turnover	- -	9.35	9.64	9.61	9.53	9.26	8.35	7.41	7.63	7.03	7.43	7.52
Days Sales Outstanding	- -	39.04	37.86	37.98	38.31	39.43	43.72	49.23	47.84	51.88	49.12	48.52
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	13.73	16.34	16.29	16.8	18.22	15.8	13.21	12.73	11	11.27	11.17
Accounts Payable Turnover Days	- -	26.59	22.34	22.41	21.73	20.03	23.1	27.62	28.67	33.19	32.4	32.68
Cash Conversion Cycle	- -	12.45	15.52	15.57	16.58	19.39	20.62	21.61	19.17	18.7	16.72	15.83
Inventory to Cash Days	- -	39.04	37.86	37.98	38.31	39.43	43.72	49.23	47.84	51.88	49.12	48.52
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y
Market Capitalization	- -	- -	373	430	563	974	884	358	398	296	19	296
- Cash & Cash Equivalents	- -	2	1	3	12	5	11	8	30	26	11	5
+ Preferred Equity and Hybrid Capital	12	14	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	99	139	20	136	162	193	844	857	446	209	220	404
Enterprise Value	110	151	392	563	713	1,161	1,717	1,207	814	479	228	695
Total Capital	110	153	24	166	229	309	978	1,016	244	-83	-238	-394
Total Debt/Capital (%)	89.67	90.94	85.06	82.24	70.66	62.4	86.34	84.34	182.28	-250.74	-92.45	-102.37
Total Debt / EV	0.9	0.92	0.05	0.24	0.23	0.17	0.49	0.71	0.55	0.44	0.97	0.58
EV/Sales	0.21	0.31	0.62	0.67	0.66	0.85	0.92	0.61	0.4	0.23	0.1	0.38
EV/EBITDA	8.4	8.65	11	10.6	8.82	11.93	18.08	12.47	76.76	- -	- -	- -
EV/EBIT	10.32	10.97	12.32	11.86	10.22	14.57	25.02	19.18	- -	- -	- -	- -
EV/Cash Flow to Firm	12.45	- -	55.08	15.77	17.11	29.97	37.75	14.91	16.92	103.46	1.96	- -
EV/Free Cash Flow to Firm	11.78	- -	55.08	15.77	17.11	29.97	37.75	14.91	16.92	103.46	1.96	- -
Diluted Market Cap	- -	- -	387	446	588	1,022	917	368	398	296	19	296
Diluted Enterprise Value	110	151	407	579	738	1,209	1,750	1,217	814	479	228	695
EV per Share	150.97	213.4	380.41	462.66	573.98	803.27	1,134.01	794.96	531.21	312.07	147.65	21.64
TTM Sales	537	483	632	844	1,073	1,361	1,872	1,992	2,033	2,091	2,216	1,848
TTM EBITDA	13	17	36	53	81	97	95	97	11	-29	-9	-82
TTM Operating Income	11	14	32	48	70	80	69	63	-30	-67	-52	-141
TTM Cash Flow to Firm	9	- -	7	36	42	39	45	81	48	5	116	-77
TTM Free Cash Flow to Firm	9	- -	7	36	42	39	45	81	48	5	116	-77

Multiples (USD)

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	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y
Price/Free Cash Flow	- -	- -	183.5	13.44	16.02	30.37	24.62	5.3	13.8	-6.5	3.42	-3.05
EV/EBIT	10.32	10.97	12.32	11.86	10.22	14.57	25.02	19.18	- -	- -	- -	- -
Enterprise Value	110	151	392	563	713	1,161	1,717	1,207	814	479	228	695
Low Price	- -	- -	258.5	312	354	440.75	489.25	222.75	159.75	151.25	10.3	7.3
EV/Sales	0.21	0.31	0.62	0.67	0.66	0.85	0.92	0.61	0.4	0.23	0.1	0.38
EV/EBITDA	8.4	8.65	11	10.6	8.82	11.93	18.08	12.47	76.76	- -	- -	- -
Price/Earnings	- -	- -	131.91	16.62	15	21.21	27.02	13.98	- -	- -	- -	- -
Price/Earnings Average	- -	- -	120.4	17.23	14.13	20.06	28.74	31.51	-0.99	-3.24	-0.56	-0.98
Price/Earnings High	- -	- -	137.29	20.47	15.82	24.38	34.51	42.25	-1.45	-5	-1.93	-1.39
Price/Earnings Low	- -	- -	94.32	14.68	11.71	13.87	22.65	13.2	-0.68	-2.55	-0.1	-0.69
Price/Book Value	- -	- -	103.52	14.59	8.4	8.39	6.62	2.25	-1.98	-1.01	-0.04	-0.37
Price/Book Value Average	- -	- -	94.49	15.12	7.91	7.94	7.04	5.07	-1.77	-1.01	-0.2	-0.42
Price/Book Value High	- -	- -	107.74	17.96	8.86	9.65	8.45	6.8	-2.6	-1.56	-0.7	-0.59
Price/Book Value Low	- -	- -	74.02	12.88	6.56	5.49	5.55	2.13	-1.22	-0.79	-0.03	-0.29
Price/Tangible Book Value	- -	- -	19.83	-5.44	-8.97	-19.58	-4.03	-1.77	-2.2	-1.45	-0.05	-4.39
Price/Tangible Book Value Average	- -	- -	18.1	-5.63	-8.45	-18.52	-4.29	-4	-1.97	-1.45	-0.26	-4.97
Price/Tangible Book Value High	- -	- -	20.64	-6.69	-9.46	-22.51	-5.15	-5.36	-2.9	-2.24	-0.89	-7.02
Price/Tangible Book Value Low	- -	- -	14.18	-4.8	-7	-12.81	-3.38	-1.67	-1.36	-1.14	-0.04	-3.48
Price/Sales	- -	- -	0.59	0.51	0.52	0.72	0.47	0.18	0.2	0.14	0.01	0.16
Price/Sales Average	- -	- -	0.54	0.53	0.49	0.68	0.5	0.41	0.17	0.14	0.04	0.18
Price/Sales High	- -	- -	0.61	0.63	0.55	0.82	0.6	0.54	0.26	0.22	0.14	0.26
Price/Sales Low	- -	- -	0.42	0.45	0.41	0.47	0.4	0.17	0.12	0.11	0.01	0.13
Price/Cash Flow	- -	- -	176.67	12.97	15.33	28.94	23.74	5.16	13.8	-6.5	3.42	-3.05
Price/Cash Flow Average	- -	- -	161.26	13.44	14.45	27.38	25.26	11.63	12.33	-6.49	16.7	-3.45
Price/Cash Flow High	- -	- -	183.87	15.97	16.17	33.28	30.32	15.6	18.15	-10.01	57.27	-4.88
Price/Cash Flow Low	- -	- -	126.33	11.45	11.97	18.93	19.9	4.88	8.49	-5.1	2.84	-2.41
Price/Free Cash Flow Average	- -	- -	167.5	13.93	15.09	28.72	26.2	11.94	12.33	-6.49	16.7	-3.45
Price/Free Cash Flow High	- -	- -	190.99	16.55	16.89	34.92	31.45	16.01	18.15	-10.01	57.27	-4.88
Price/Free Cash Flow Low	- -	- -	131.22	11.87	12.5	19.87	20.64	5	8.49	-5.1	2.84	-2.41
EV/Sales Average	0.21	0.31	0.57	0.69	0.63	0.81	0.95	0.83	0.38	0.23	0.14	0.4
EV/Sales High	0.21	0.31	0.64	0.79	0.69	0.96	1.05	0.97	0.46	0.31	0.24	0.47
EV/Sales Low	0.21	0.31	0.45	0.61	0.55	0.61	0.84	0.6	0.33	0.2	0.1	0.34
EV/EBITDA Average	8.4	8.65	10.09	10.89	8.41	11.39	18.68	17.11	72.77	-16.74	-34.65	-8.98
EV/EBITDA High	8.4	8.65	11.43	12.47	9.2	13.43	20.66	19.95	88.61	-22.35	-60.69	-10.68
EV/EBITDA Low	8.4	8.65	8.02	9.65	7.29	8.47	16.58	12.26	62.31	-14.53	-25.75	-7.75
EV/EBIT Average	10.32	10.97	11.3	12.18	9.75	13.9	25.84	26.32	-25.63	-7.1	-5.78	-5.19
EV/EBIT High	10.32	10.97	12.8	13.95	10.66	16.4	28.59	30.7	-31.21	-9.47	-10.12	-6.17
EV/EBIT Low	10.32	10.97	8.98	10.8	8.45	10.34	22.94	18.87	-21.95	-6.16	-4.29	-4.48
Last Price	- -	- -	361.5	353.25	453.5	673.75	583.75	235.75	259.75	192.75	12.4	9.21
High Price	- -	- -	376.25	435	478.25	774.6	745.5	712.75	341.75	297	207.75	14.75
Enterprise Value Average	110	151	360	579	680	1,108	1,773	1,657	772	479	302	734
Enterprise Value High	110	151	407	663	743	1,307	1,962	1,932	940	639	529	872
Enterprise Value Low	110	151	286	513	589	824	1,574	1,188	661	416	224	633

	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y
Shares Outstanding	1	1	1	1	1	2	2	2	2	2	2	38
Diluted Weighted Avg Shares	1	1	1	1	1	2	2	2	2	2	2	32
Basic Weighted Avg Shares	1	1	1	1	1	1	2	2	2	2	2	32
Revenue per Share	735.13	684.36	612.92	693.04	864.49	941.94	1,236.7	1,311.71	1,326.53	1,361.52	1,437.19	57.57
EBITDA per Share	17.97	24.67	34.58	43.65	65.1	67.34	62.71	63.77	6.92	-18.63	-5.65	-2.55
Operating Income per Share	14.63	19.46	30.88	39.02	56.16	55.15	45.32	41.44	-19.65	-43.94	-33.89	-4.41
Basic EPS, GAAP	-5.24	-5.55	2.74	21.25	30.23	31.77	21.6	16.87	-235.09	-59.37	-107.39	-10.62
Basic EPS from Cont Ops	-5.24	-0.03	3.48	21.25	30.23	31.77	21.6	16.87	-235.09	-59.37	-107.39	-10.62
Diluted EPS, GAAP	-5.04	-5.55	2.64	20.5	28.94	30.28	20.83	16.43	-235.09	-59.37	-107.39	-10.62
Diluted EPS from Cont Ops	-5.04	-0.03	3.35	20.5	28.94	30.28	20.83	16.43	-235.09	-59.37	-107.39	-10.62
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	-0.16	1.1	2.05	27.24	29.58	23.28	24.59	45.69	18.83	-29.66	3.63	-3.02
Free Cash Flow per Basic Share	-0.84	1.1	2.05	27.24	29.58	23.28	24.59	45.69	18.83	-29.66	3.63	-3.02
Cash & Equivalents per Share	0.68	3.08	0.97	2.72	9.59	3.76	7.14	5.22	19.26	16.73	7.25	0.15
Book Value per Share	-0.84	-0.16	3.49	24.22	54	80.31	88.21	104.81	-131.23	-190.31	-296.63	-24.86
Tangible Book Value per Share	-115.45	-168.47	18.23	-64.99	-50.56	-34.42	-144.82	-133.05	-117.84	-132.57	-233.14	-2.1

Roadrunner Transportation Systems, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)