Salem Media Group, Inc. Financial Ratios — SALM 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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	2.81	2.16	-1.34	2.7	5.39	4.22	11.14	-1.41	-13.53	-33.27	26.49	-1.83	-28.14	10.06	-18.88
Return on Assets (%)	0.99	0.79	-0.48	0.95	1.89	1.5	4.24	-0.56	-4.98	-9.98	7.98	-0.63	-9.02	3.68	-9.37
Return on Capital (%)	4.03	5.99	- -	2.88	4.3	3.91	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	3.98	7.75	- -	3.34	4.24	4.7	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	32.23	29.01	28.3	24.61	24.39	23.89	22.78	22.25	20.21	17.62	21.49	17.64	11.56	100	100
EBITDA Margin (%)	24.21	22.73	21.51	18.2	18.69	18.43	16.62	16.28	13.93	10.76	14.73	10.68	4.26	2.47	-3.11
Operating Margin (%)	17.35	16.33	15.07	11.14	12.01	12.13	10.19	9.35	7.66	4.81	9.76	5.96	-1.01	-2.57	-8.26
Incremental Operating Margin (%)	8.18	-3.73	-22.21	-20.38	-300	15.73	60.41	242.39	57.73	45.68	62.84	-106.49	- -	- -	- -
Pretax Margin (%)	5.72	2.04	-2.91	3.84	6.71	4.9	1.43	-0.27	-9.4	-10.07	15.78	-1.36	-23.47	3.52	-20.12
Profit Margin (%)	2.58	1.93	-1.15	2.05	4.2	3.23	9.34	-1.21	-10.96	-22.88	16.08	-1.21	-16.75	6.81	-16.27
Net Income to Common Margin (%)	2.58	1.93	-1.15	2.05	4.2	3.23	9.34	-1.21	-10.96	-22.88	16.08	-1.21	-16.75	6.81	-16.27
Effective Tax Rate (%)	49	3.27	- -	46.53	37.52	34.01	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	75.44	-191.11	112.93	59.3	75.26	27.55	-213.22	-20.93	-1.23	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	2.81	0.53	-3.91	-0.35	2.19	1.04	8.07	-4.41	-16.36	-33.69	26.49	-1.83	-28.14	10.06	-18.88

Credit (USD)

Credit Ratios API ChatGPT

	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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	275	269	291	278	275	262	259	254	292	276	222	210	221	150	56
ST Debt	9	20	3	2	6	1	9	20	21	14	9	17	26	106	8
LT Debt	266	249	288	276	269	261	250	234	271	262	213	193	195	44	48
Total Debt/EBITDA	5.2	5.16	5.7	5.72	5.53	5.18	5.9	5.93	8.24	10.84	5.83	7.37	20	25.64	-8.5
Net Debt/EBITDA	5.2	5.16	5.7	5.72	5.53	5.17	5.9	5.93	6.47	8.35	4.44	5.59	15.4	17.38	-1.23
Total Debt/EBIT	7.26	7.19	8.14	9.35	8.61	7.87	9.63	10.33	15	24.24	8.79	13.2	-84.52	-24.62	-3.2
Net Debt/EBIT	7.26	7.18	8.14	9.35	8.6	7.86	9.63	10.32	11.78	18.68	6.7	10.01	-65.08	-16.69	-0.46
EBITDA to Interest Expense	1.91	2.09	3.02	3.03	3.22	3.38	2.62	2.33	2.02	1.58	2.41	2.18	0.77	0.39	-4.38
EBITDA-CapEx/Interest Expense	1.8	1.96	2.69	2.65	2.41	3.27	2.49	1.98	2.02	1.58	2.41	2.18	0.77	0.39	-4.38
EBIT to Interest Expense	1.37	1.5	2.11	1.86	2.07	2.23	1.61	1.34	1.11	0.71	1.59	1.22	-0.18	-0.41	-11.63
Interest Expense	28	25	17	16	15	15	17	18	17	16	16	13	14	15	2
Common Equity/Total Assets	36.17	36.66	35.09	34.98	35.2	35.78	40.38	39.69	33.96	25.79	34.53	34.72	29.09	44.67	56.31
Long-Term Debt/Equity (%)	130.85	120.77	142.56	135.11	128.25	123.62	107.91	105.53	142.7	193.39	119.44	109.95	147.16	23.26	27.05
Long-Term Debt/Capital (%)	55.6	52.39	58.4	57.24	55.53	55.21	50.94	49.22	56.23	63.67	53.24	50.02	55.24	12.96	20.54
Long-Term Debt/Total Assets (%)	47.33	44.27	50.02	47.26	45.14	44.23	43.57	41.88	48.46	49.87	41.24	38.17	42.8	10.39	15.23
Total Debt/Equity (%)	135.34	130.53	144.11	136.04	130.95	123.9	111.85	114.42	153.76	203.75	124.33	119.82	166.42	79.53	31.66
Total Debt/Capital (%)	57.51	56.62	59.03	57.63	56.7	55.34	52.8	53.36	60.59	67.08	55.42	54.51	62.46	44.3	24.05
Total Debt/Total Assets (%)	48.96	47.85	50.56	47.59	46.09	44.33	45.16	45.41	52.22	52.54	42.93	41.6	48.41	35.52	17.83
Net Debt to Equity	135.31	130.34	144.08	136.02	130.9	123.84	111.85	114.29	120.68	157.04	94.72	90.86	128.14	53.9	4.58
Net Debt/Capital (%)	57.5	56.59	59.03	57.63	56.69	55.33	52.8	53.32	47.56	52.51	42.41	41.33	48.1	30.02	3.52
EBITDA	53	52	51	49	50	51	44	43	35	25	38	29	11	6	-7
EBITDA-CapEx	50	49	45	42	37	49	42	36	35	25	38	29	11	6	-7
Operating Income (Loss)	38	37	36	30	32	33	27	25	19	11	25	16	-3	-6	-18

Liquidity (USD)

Liquidity Ratios API ChatGPT

	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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	0.01	- -	- -	- -	- -	- -	- -	- -	0.12	0.03	- -	- -	- -	0.06
Current Ratio	1.15	0.94	1.61	1.37	1.29	1.39	1.11	0.83	0.79	0.9	0.81	0.7	0.65	0.74	0.79
Quick Ratio	0.88	0.7	1.21	0.97	0.88	0.97	0.85	0.69	0.66	0.69	0.63	0.55	0.5	0.23	0.69
CFO/Avg Current Liab	1.05	0.71	0.69	1.17	0.85	0.93	0.67	0.48	0.32	0.44	0.44	0.13	-0.06	-0.1	-0.06
Common Equity/Total Assets	36.17	36.66	35.09	34.98	35.2	35.78	40.38	39.69	33.96	25.79	34.53	34.72	29.09	44.67	56.31
Long-Term Debt/Equity (%)	130.85	120.77	142.56	135.11	128.25	123.62	107.91	105.53	142.7	193.39	119.44	109.95	147.16	23.26	27.05
Long-Term Debt/Capital (%)	55.6	52.39	58.4	57.24	55.53	55.21	50.94	49.22	56.23	63.67	53.24	50.02	55.24	12.96	20.54
Long-Term Debt/Total Assets (%)	47.33	44.27	50.02	47.26	45.14	44.23	43.57	41.88	48.46	49.87	41.24	38.17	42.8	10.39	15.23
Total Debt/Equity (%)	135.34	130.53	144.11	136.04	130.95	123.9	111.85	114.42	153.76	203.75	124.33	119.82	166.42	79.53	31.66
Total Debt/Capital (%)	57.51	56.62	59.03	57.63	56.7	55.34	52.8	53.36	60.59	67.08	55.42	54.51	62.46	44.3	24.05
Total Debt/Total Assets (%)	48.96	47.85	50.56	47.59	46.09	44.33	45.16	45.41	52.22	52.54	42.93	41.6	48.41	35.52	17.83
CFO/Total Liabilities	8.69	8.73	7.69	11.06	9.35	10.25	8	6.81	4.61	5.87	6.66	2.35	-1.25	-4.48	-4.16
CFO/CapEx	9.88	9.33	5.22	6.77	2.91	22.11	11.98	3.51	486	- -	- -	- -	- -	- -	- -
Altman's Z-Score	2.31	2.52	2.68	2.68	2.54	2.77	2.75	2.5	1.5	0.94	1.79	1.42	0.62	0.41	0.06

Working Capital (USD)

Working Capital Ratios API ChatGPT

	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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	7.23	6.94	6.52	7.36	7.39	7.37	7.56	8.02	7.95	8.54	10.3	9.46	8.24	7.87	8.54
Days Sales Outstanding	50.5	52.57	55.95	49.58	49.41	49.52	48.3	45.53	45.89	42.72	35.43	38.57	44.29	46.37	42.76
Inventory Turnover	- -	- -	- -	702.58	274.37	267.16	290.92	290.41	290.66	321.15	278.68	177.83	302.38	- -	- -
Days Inventory Outstanding	- -	- -	- -	0.52	1.33	1.37	1.25	1.26	1.26	1.14	1.31	2.05	1.21	- -	- -
Accounts Payable Turnover	53.51	33.12	36.85	58.21	49.45	41.12	62.18	108.33	71.66	71.02	87.08	11.92	6.8	- -	- -
Accounts Payable Turnover Days	6.82	11.02	9.9	6.27	7.38	8.88	5.87	3.37	5.09	5.14	4.19	30.63	53.7	- -	- -
Cash Conversion Cycle	43.67	41.55	46.04	43.83	43.36	42.01	43.69	43.42	42.05	38.71	32.55	9.99	-8.2	- -	- -
Inventory to Cash Days	50.5	52.57	55.95	49.06	48.08	48.16	47.05	44.28	44.63	41.58	34.12	36.52	43.08	- -	- -
Inventories	- -	- -	- -	1	1	1	1	1	1	- -	1	2	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	2	3	3	2	2	1	- -	1	2	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	1	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	62	134	218	198	127	161	118	55	38	28	83	29	11	19	14
- Cash & Cash Equivalents	- -	- -	- -	- -	- -	- -	- -	- -	- -	6	2	- -	- -	- -	2
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	275	269	291	278	275	262	259	254	292	276	222	210	221	150	56
Enterprise Value	337	403	509	475	402	423	376	308	330	297	303	239	231	169	68
Total Capital	478	475	493	481	485	473	490	476	481	411	400	385	353	339	234
Total Debt/Capital (%)	57.51	56.62	59.03	57.63	56.7	55.34	52.8	53.36	60.59	67.08	55.42	54.51	62.46	44.3	24.05
Total Debt / EV	0.82	0.67	0.57	0.58	0.68	0.62	0.69	0.82	0.88	0.93	0.73	0.88	0.95	0.89	0.83
EV/Sales	1.55	1.76	2.15	1.78	1.51	1.54	1.43	1.17	1.3	1.26	1.17	0.89	0.89	0.71	0.32
EV/EBITDA	6.38	7.73	9.98	9.8	8.08	8.37	8.59	7.21	9.33	11.68	7.96	8.37	20.96	28.82	- -
EV/EBIT	8.91	10.76	14.24	16.02	12.58	12.71	14.01	12.56	16.98	26.13	12.02	15	- -	- -	- -
EV/Cash Flow to Firm	7.45	7.3	14.4	9.42	8.77	8.68	2.76	2.96	8.82	5	7.85	12.31	37.47	9.2	- -
EV/Free Cash Flow to Firm	6.97	6.88	12.46	8.39	6.9	8.38	2.71	2.78	8.81	5	7.85	12.31	37.47	9.2	- -
Diluted Market Cap	63	136	217	204	129	163	119	55	38	28	84	29	11	18	14
Diluted Enterprise Value	338	405	508	481	404	424	378	308	330	297	303	239	231	168	68
EV per Share	13.88	16.4	20.31	18.78	15.76	16.38	14.39	11.78	12.37	11.13	11.15	8.77	8.49	5.71	2.14
TTM Sales	218	229	237	267	266	274	264	263	254	236	258	267	259	238	213
TTM EBITDA	53	52	51	49	50	51	44	43	35	25	38	29	11	6	-7
TTM Operating Income	38	37	36	30	32	33	27	25	19	11	25	16	-3	-6	-18
TTM Cash Flow to Firm	45	55	35	50	46	49	136	104	37	59	39	19	6	18	-5
TTM Free Cash Flow to Firm	48	59	41	57	58	50	139	111	37	59	39	19	6	18	-5

Multiples (USD)

Valuation Multiples API ChatGPT

	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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	1.85	3.97	6.34	4.24	2.66	4.01	4.02	1.86	2.24	1.21	3.71	3.69	-2.64	-1.67	-2.39
EV/EBIT	8.91	10.76	14.24	16.02	12.58	12.71	14.01	12.56	16.98	26.13	12.02	15	- -	- -	- -
Enterprise Value	337	403	509	475	402	423	376	308	330	297	303	239	231	169	68
Low Price	2.12	2.35	5.19	5.04	4.38	3.6	3.9	2.03	1.35	0.65	1.04	1	0.37	0.15	0.4
EV/Sales	1.55	1.76	2.15	1.78	1.51	1.54	1.43	1.17	1.3	1.26	1.17	0.89	0.89	0.71	0.32
EV/EBITDA	6.38	7.73	9.98	9.8	8.08	8.37	8.59	7.21	9.33	11.68	7.96	8.37	20.96	28.82	- -
Price/Earnings	11.2	30.31	- -	36.19	11.36	18.08	4.76	- -	- -	- -	1.98	- -	- -	1.06	- -
Price/Earnings Average	13.52	25.88	-71.06	39.46	13.85	17.4	6.89	-31.43	-1.97	-0.56	1.72	-20.77	-0.57	0.49	-0.72
Price/Earnings High	19.08	33.3	-92.42	50.91	18.17	23.64	8.73	-51.26	-3.1	-1.29	4.42	-35.23	-0.91	1.18	-1.88
Price/Earnings Low	9.24	13.04	-47.31	23.32	9.99	10.41	4.13	-16.65	-1.29	-0.32	0.67	-8.41	-0.23	0.25	-0.36
Price/Book Value	0.31	0.65	1.08	0.97	0.6	0.76	0.51	0.25	0.2	0.21	0.47	0.16	0.08	0.1	0.08
Price/Book Value Average	0.37	0.56	0.97	1.06	0.74	0.74	0.74	0.45	0.29	0.22	0.41	0.38	0.19	0.05	0.14
Price/Book Value High	0.52	0.71	1.26	1.37	0.97	1	0.93	0.74	0.46	0.52	1.04	0.65	0.3	0.11	0.37
Price/Book Value Low	0.25	0.28	0.64	0.63	0.53	0.44	0.44	0.24	0.19	0.13	0.16	0.16	0.08	0.02	0.07
Price/Tangible Book Value	-0.32	-0.67	-1.03	-0.9	-0.58	-0.74	-0.62	-0.28	-0.21	-0.13	-0.49	-0.18	-0.07	-1.09	-30.31
Price/Tangible Book Value Average	-0.38	-0.57	-0.92	-0.98	-0.7	-0.71	-0.9	-0.52	-0.31	-0.14	-0.43	-0.43	-0.16	-0.51	-55.41
Price/Tangible Book Value High	-0.54	-0.73	-1.2	-1.27	-0.92	-0.97	-1.14	-0.85	-0.48	-0.33	-1.1	-0.74	-0.26	-1.22	-143.98
Price/Tangible Book Value Low	-0.26	-0.29	-0.61	-0.58	-0.51	-0.43	-0.54	-0.28	-0.2	-0.08	-0.17	-0.18	-0.07	-0.26	-27.56
Price/Sales	0.29	0.59	0.92	0.74	0.48	0.58	0.44	0.21	0.15	0.12	0.32	0.11	0.04	0.07	0.06
Price/Sales Average	0.35	0.5	0.82	0.81	0.58	0.56	0.64	0.38	0.22	0.13	0.28	0.25	0.09	0.03	0.12
Price/Sales High	0.49	0.64	1.07	1.05	0.76	0.76	0.82	0.62	0.34	0.3	0.71	0.43	0.15	0.08	0.31
Price/Sales Low	0.24	0.25	0.55	0.48	0.42	0.34	0.39	0.2	0.14	0.07	0.11	0.1	0.04	0.02	0.06
Price/Cash Flow	2.02	4.32	7.56	4.73	3.5	4.13	4.29	2.38	2.24	1.21	3.66	3.69	-2.64	-1.63	-2.39
Price/Cash Flow Average	2.44	3.69	6.78	5.15	4.27	3.97	6.21	4.37	3.22	1.32	3.18	8.68	-6.1	-0.76	-4.37
Price/Cash Flow High	3.44	4.75	8.81	6.65	5.61	5.4	7.87	7.13	5.08	3.06	8.15	14.72	-9.8	-1.82	-11.35
Price/Cash Flow Low	1.67	1.86	4.51	3.05	3.08	2.38	3.72	2.31	2.1	0.76	1.24	3.51	-2.5	-0.39	-2.17
Price/Free Cash Flow Average	2.23	3.39	5.69	4.62	3.24	3.86	5.82	3.4	3.21	1.32	3.23	8.68	-6.1	-0.78	-4.37
Price/Free Cash Flow High	3.15	4.36	7.39	5.96	4.25	5.24	7.37	5.55	5.07	3.06	8.28	14.72	-9.8	-1.86	-11.35
Price/Free Cash Flow Low	1.53	1.71	3.78	2.73	2.34	2.31	3.48	1.8	2.1	0.76	1.26	3.51	-2.5	-0.4	-2.17
EV/Sales Average	1.6	1.67	2.05	1.85	1.62	1.52	1.63	1.35	1.37	1.27	1.13	1.04	0.95	0.67	0.37
EV/Sales High	1.75	1.81	2.3	2.09	1.8	1.72	1.8	1.59	1.49	1.44	1.57	1.21	1	0.72	0.57
EV/Sales Low	1.5	1.42	1.78	1.52	1.45	1.29	1.37	1.17	1.29	1.21	0.96	0.89	0.89	0.65	0.31
EV/EBITDA Average	6.63	7.35	9.53	10.17	8.64	8.25	9.79	8.27	9.8	11.78	7.68	9.72	22.22	27.12	-11.99
EV/EBITDA High	7.22	7.99	10.68	11.46	9.62	9.35	10.83	9.75	10.7	13.34	10.65	11.36	23.57	29.18	-18.15
EV/EBITDA Low	6.18	6.26	8.25	8.35	7.78	7.01	8.23	7.17	9.26	11.27	6.52	8.32	20.91	26.41	-10.05
EV/EBIT Average	9.25	10.23	13.61	16.62	13.45	12.53	15.97	14.41	17.84	26.34	11.59	17.43	-93.92	-26.04	-4.52
EV/EBIT High	10.07	11.11	15.25	18.73	14.96	14.2	17.66	16.99	19.48	29.83	16.07	20.37	-99.63	-28.01	-6.84
EV/EBIT Low	8.62	8.72	11.78	13.65	12.1	10.66	13.42	12.49	16.86	25.21	9.84	14.91	-88.38	-25.35	-3.79
Last Price	2.57	5.46	8.7	7.82	4.98	6.25	4.5	2.09	1.44	1.04	3.06	1.05	0.39	0.63	0.44
High Price	4.38	6	10.14	11	7.97	8.17	8.25	6.25	3.26	2.62	6.82	4.19	1.45	0.7	2.09
Enterprise Value Average	350	383	486	493	429	417	429	354	347	300	292	277	245	159	79
Enterprise Value High	381	416	545	556	478	473	475	417	379	339	405	324	260	171	120
Enterprise Value Low	326	326	421	405	386	355	361	307	328	287	248	237	231	155	67

Shares Outstanding	24	25	25	25	25	26	26	26	27	27	27	27	27	30	32
Diluted Weighted Avg Shares	25	25	25	26	26	26	26	26	27	27	27	27	27	28	31
Basic Weighted Avg Shares	24	25	25	25	25	26	26	26	27	27	27	27	27	27	31
Revenue per Share	8.91	9.32	9.5	10.52	10.45	10.69	10.12	10.04	9.58	8.85	9.6	9.81	9.5	8.73	6.83
EBITDA per Share	2.16	2.12	2.04	1.91	1.95	1.97	1.68	1.63	1.33	0.95	1.41	1.05	0.41	0.22	-0.21
Operating Income per Share	1.55	1.52	1.43	1.17	1.26	1.3	1.03	0.94	0.73	0.43	0.94	0.58	-0.1	-0.22	-0.56
Basic EPS, GAAP	0.23	0.18	-0.11	0.22	0.44	0.35	0.95	-0.12	-1.05	-2.03	1.54	-0.12	-1.59	0.59	-1.11
Basic EPS from Cont Ops	0.26	0.18	-0.11	0.22	0.44	0.35	0.95	-0.12	-1.05	-2.03	1.54	-0.12	-1.59	0.59	-1.11
Diluted EPS, GAAP	0.23	0.18	-0.11	0.21	0.43	0.34	0.93	-0.12	-1.05	-2.03	1.52	-0.12	-1.59	0.58	-1.11
Diluted EPS from Cont Ops	0.26	0.18	-0.11	0.21	0.43	0.34	0.93	-0.12	-1.05	-2.03	1.52	-0.12	-1.59	0.58	-1.11
Dividend per Share	- -	0.14	0.21	0.24	0.26	0.26	0.26	0.26	0.22	0.02	- -	- -	- -	- -	- -
Cash Flow per Share	1.27	1.26	1.15	1.65	1.42	1.51	1.05	0.88	0.64	0.86	0.84	0.28	-0.15	-0.39	-0.18
Free Cash Flow per Basic Share	1.14	1.13	0.93	1.41	0.93	1.45	0.96	0.63	0.64	0.86	0.84	0.28	-0.15	-0.39	-0.18
Cash & Equivalents per Share	- -	0.02	- -	- -	- -	0.01	- -	- -	- -	0.24	0.07	- -	- -	- -	0.08
Book Value per Share	8.36	8.39	8.06	8.06	8.23	8.18	8.84	8.47	7.11	5.07	6.56	6.44	4.87	6.39	5.59
Tangible Book Value per Share	-8.11	-8.17	-8.47	-8.68	-8.64	-8.43	-7.24	-7.36	-6.73	-7.96	-6.19	-5.68	-5.54	-0.58	-0.01

Salem Media Group, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)