Scope Industries Financial Ratios — SCPJ Stock

Profitability (USD)

	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y
Return on Common Equity (%)	- -	12.12	45.53	28.83	-1.39	10.04	-7.19	18.55	4.91
Return on Assets (%)	- -	8.06	32.46	22.97	-1.12	7.8	-5.43	14.61	3.98
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	7.75	7.19	0.85	- -	-5.04	- -	-2.57	3.9
Gross Margin (%)	44.52	50.85	48.02	41.96	27.93	22.33	21.67	28.05	34.38
EBITDA Margin (%)	12.22	25.27	24.23	11.67	81.37	-1.6	-3.36	3.89	15.03
Operating Margin (%)	2.49	18.27	17.25	3.59	73.4	-8.44	-11.33	-4.27	5.66
Incremental Operating Margin (%)	- -	68.25	-588.4	82.71	322.49	- -	- -	- -	40.15
Pretax Margin (%)	6.93	20.95	85.2	104.79	-3.41	14.86	-10.3	27.25	6.48
Profit Margin (%)	6.27	13.14	62.74	64.14	-2.63	9.47	-6.99	17.54	3.91
Net Income to Common Margin (%)	6.27	13.14	62.74	64.14	-2.63	9.47	-6.99	17.54	3.91
Effective Tax Rate (%)	9.43	37.27	26.36	38.79	- -	36.27	- -	35.64	39.63
Dvd Payout Ratio (%)	30.47	15.53	7.85	8.81	-132.69	18.32	-24.67	9.29	32.16
Sustainable Growth Rate (%)	- -	10.24	41.96	26.29	-3.24	8.2	-8.97	16.83	3.33

Credit (USD)

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	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y
Total Debt	- -	- -	- -	- -	- -	6	6	6	5
ST Debt	- -	- -	- -	- -	- -	- -	- -	1	- -
LT Debt	- -	- -	- -	- -	- -	6	6	5	5
Total Debt/EBITDA	0.02	0.03	- -	- -	- -	-5.87	-2.99	2.44	0.41
Net Debt/EBITDA	-0.06	-0.19	-0.81	-0.26	-0.14	-1.91	-2.71	-0.42	-0.17
Total Debt/EBIT	0.11	0.05	- -	- -	- -	-1.11	-0.89	-2.22	1.09
Net Debt/EBIT	-0.32	-0.27	-1.14	-0.84	-0.16	-0.36	-0.8	0.38	-0.46
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	73.83	60.81	80.76	78.81	81.72	74.11	77.08	80.23	81.83
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	9.03	10.51	8.3	7.6
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	8.91	9.88	7.63	7.16
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	7.25	8.45	6.69	6.31
Total Debt/Equity (%)	0.15	0.52	- -	- -	- -	9.03	10.51	9.22	7.6
Total Debt/Capital (%)	0.19	0.74	- -	- -	- -	8.91	9.88	8.48	7.16
Total Debt/Total Assets (%)	0.14	0.45	- -	- -	- -	7.25	8.45	7.43	6.31
Net Debt to Equity	-0.45	-3.06	-10.31	-1.06	-5.77	2.94	9.53	-1.57	-3.24
Net Debt/Capital (%)	-0.57	-4.56	-13.6	-1.24	-6.6	3.09	9.04	-1.61	-3.4
EBITDA	3	8	7	3	26	-1	-2	2	12
EBITDA-CapEx	1	5	6	- -	22	-7	-12	-10	2
Operating Income (Loss)	1	6	5	1	24	-5	-7	-3	5

Liquidity (USD)

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	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y
Cash Ratio	0.9	1.44	7.69	12.19	2.47	2.7	1.32	2.1	1.61
Current Ratio	2.28	2.78	8.54	13.15	3.48	3.66	2.55	2.82	2.58
Quick Ratio	1.72	2.55	8.12	12.64	3.03	2.7	2.02	2.53	2.21
CFO/Avg Current Liab	- -	2	0.74	-1.28	-0.05	0.05	0.17	0.32	1.17
Common Equity/Total Assets	73.83	60.81	80.76	78.81	81.72	74.11	77.08	80.23	81.83
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	9.03	10.51	8.3	7.6
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	8.91	9.88	7.63	7.16
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	7.25	8.45	6.69	6.31
Total Debt/Equity (%)	0.15	0.52	- -	- -	- -	9.03	10.51	9.22	7.6
Total Debt/Capital (%)	0.19	0.74	- -	- -	- -	8.91	9.88	8.48	7.16
Total Debt/Total Assets (%)	0.14	0.45	- -	- -	- -	7.25	8.45	7.43	6.31
CFO/Total Liabilities	103.78	99.98	81.77	-65.94	-3.17	2.65	10.2	18.54	80.94
CFO/CapEx	1.3	3.28	2.41	-1.9	-0.07	0.07	0.15	0.23	1.07
Altman's Z-Score	3.54	2.88	5.38	4.09	4.49	2.6	2.47	2.87	3.67

Working Capital (USD)

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	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y
Accounts Receivable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Sales Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory Turnover	- -	31.11	28.2	23.32	27.81	59.09	60.14	54.56	64.88
Days Inventory Outstanding	- -	11.73	12.94	15.65	13.13	6.18	6.07	6.69	5.63
Accounts Payable Turnover	- -	12.95	12.56	13.56	9.44	11.25	9.63	8.87	10.04
Accounts Payable Turnover Days	- -	28.18	29.07	26.91	38.67	32.45	37.91	41.16	36.36
Cash Conversion Cycle	- -	-16.45	-16.13	-11.26	-25.54	-26.27	-31.84	-34.47	-30.74
Inventory to Cash Days	- -	-11.73	-12.94	-15.65	-13.13	-6.18	-6.07	-6.69	-5.63
Inventories	- -	1	1	1	1	1	1	1	1
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	1	1	1	1	1	1	1	1

Enterprise Value (USD)

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	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y
Market Capitalization	9	13	19	24	24	15	14	22	26
- Cash & Cash Equivalents	- -	2	6	1	4	4	1	7	7
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	- -	- -	6	6	6	5
Enterprise Value	7	7	-10	-19	5	-1	10	6	18
Total Capital	32	34	50	62	59	67	61	71	70
Total Debt/Capital (%)	0.19	0.74	- -	- -	- -	8.91	9.88	8.48	7.16
Total Debt / EV	0.01	0.04	- -	- -	- -	-4.29	0.6	0.97	0.28
EV/Sales	0.29	0.23	- -	- -	0.16	- -	0.17	0.1	0.22
EV/EBITDA	2.35	0.89	- -	- -	0.2	- -	- -	2.52	1.46
EV/EBIT	11.52	1.23	- -	- -	0.22	- -	- -	- -	3.87
EV/Cash Flow to Firm	2.3	0.92	- -	- -	- -	- -	7.04	2.14	1.64
EV/Free Cash Flow to Firm	1.3	0.71	- -	- -	1.32	- -	0.9	0.4	0.85
Diluted Market Cap	9	13	19	25	24	16	14	22	26
Diluted Enterprise Value	9	12	13	24	20	17	20	21	24
EV per Share	5.26	5.54	- -	- -	4.56	- -	9.65	6.02	17.5
TTM Sales	23	30	30	25	32	64	60	63	81
TTM EBITDA	3	8	7	3	26	-1	-2	2	12
TTM Operating Income	1	6	5	1	24	-5	-7	-3	5
TTM Cash Flow to Firm	3	7	3	-5	- -	- -	1	3	11
TTM Free Cash Flow to Firm	5	10	4	-2	4	7	11	15	21

Multiples (USD)

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	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y
Price/Free Cash Flow	1.78	1.37	4.33	-10.93	6.1	2.26	1.31	1.41	1.26
EV/EBIT	11.52	1.23	- -	- -	0.22	- -	- -	- -	3.87
Enterprise Value	7	7	-10	-19	5	-1	10	6	18
Low Price	22.72	24.56	36.35	49.12	60.91	38.07	38.81	40.28	56.49
EV/Sales	0.29	0.23	- -	- -	0.16	- -	0.17	0.1	0.22
EV/EBITDA	2.35	0.89	- -	- -	0.2	- -	- -	2.52	1.46
Price/Earnings	6.27	3.34	1.01	1.52	- -	2.56	- -	1.96	8.32
Price/Earnings Average	6.24	3	0.86	1.33	-28.17	2.99	-3.56	1.73	7.58
Price/Earnings High	22.64	13.02	3.38	4.99	-101.33	11.98	-13.57	6.27	28.04
Price/Earnings Low	19.79	7.61	2.28	3.48	-81.21	6.91	-9.62	3.74	18.1
Price/Book Value	0.28	0.39	0.39	0.4	0.4	0.25	0.26	0.34	0.41
Price/Book Value Average	0.28	0.35	0.33	0.35	0.4	0.29	0.27	0.3	0.37
Price/Book Value High	1.03	1.53	1.29	1.3	1.44	1.18	1.04	1.07	1.38
Price/Book Value Low	0.9	0.9	0.87	0.91	1.16	0.68	0.73	0.64	0.89
Price/Tangible Book Value	0.22	0.28	0.33	0.34	0.37	0.26	0.28	0.34	0.4
Price/Tangible Book Value Average	0.22	0.25	0.28	0.3	0.37	0.31	0.28	0.3	0.37
Price/Tangible Book Value High	0.81	1.07	1.11	1.13	1.34	1.23	1.08	1.1	1.36
Price/Tangible Book Value Low	0.71	0.63	0.75	0.79	1.08	0.71	0.77	0.66	0.88
Price/Sales	0.39	0.44	0.63	0.98	0.74	0.24	0.24	0.34	0.33
Price/Sales Average	0.39	0.39	0.54	0.85	0.74	0.28	0.25	0.3	0.3
Price/Sales High	1.42	1.71	2.12	3.2	2.66	1.13	0.95	1.1	1.1
Price/Sales Low	1.24	1	1.43	2.23	2.13	0.65	0.67	0.66	0.71
Price/Cash Flow	3.15	1.79	6.12	-5.14	-84.41	35.75	10.2	7.5	2.43
Price/Cash Flow Average	3.13	1.61	5.23	-4.49	-84.71	41.74	10.45	6.61	2.21
Price/Cash Flow High	11.37	6.99	20.48	-16.83	-304.77	167.36	39.91	23.96	8.19
Price/Cash Flow Low	9.94	4.09	13.81	-11.74	-244.26	96.54	28.29	14.3	5.29
Price/Free Cash Flow Average	1.77	1.23	3.7	-9.56	6.12	2.64	1.34	1.24	1.15
Price/Free Cash Flow High	6.43	5.36	14.48	-35.82	22.03	10.57	5.12	4.49	4.23
Price/Free Cash Flow Low	5.62	3.13	9.77	-25	17.66	6.1	3.63	2.68	2.73
EV/Sales Average	0.38	0.35	0.35	0.82	0.63	0.31	0.34	0.29	0.27
EV/Sales High	1.41	1.66	1.92	3.17	2.55	1.17	1.04	1.08	1.07
EV/Sales Low	1.23	0.95	1.23	2.2	2.02	0.68	0.76	0.64	0.68
EV/EBITDA Average	3.14	1.37	1.42	7.06	0.77	-19.61	-10.11	7.39	1.8
EV/EBITDA High	11.56	6.58	7.94	27.17	3.13	-72.89	-30.95	27.86	7.12
EV/EBITDA Low	10.1	3.77	5.09	18.88	2.48	-42.85	-22.73	16.46	4.53
EV/EBIT Average	15.39	1.89	2	22.97	0.85	-3.71	-3	-6.73	4.78
EV/EBIT High	56.67	9.1	11.15	88.35	3.47	-13.8	-9.18	-25.38	18.91
EV/EBIT Low	49.48	5.21	7.15	61.41	2.75	-8.11	-6.74	-14.99	12.05
Last Price	7.2	10.77	16.1	21.48	21.05	14.1	13.99	21.12	25.96
High Price	26	42	53.88	70.38	76	66	54.75	67.5	87.5
Enterprise Value Average	9	10	10	21	20	20	20	18	22
Enterprise Value High	32	50	58	79	82	74	62	68	87
Enterprise Value Low	28	29	37	55	65	44	46	40	55

	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y
Shares Outstanding	1	1	1	1	1	1	1	1	1
Diluted Weighted Avg Shares	1	1	1	1	1	1	1	1	1
Basic Weighted Avg Shares	1	1	1	1	1	1	1	1	1
Revenue per Share	18.3	24.55	25.41	21.98	28.54	58.18	57.68	61.4	79.83
EBITDA per Share	2.24	6.2	6.16	2.57	23.22	-0.93	-1.94	2.39	12
Operating Income per Share	0.46	4.48	4.38	0.79	20.95	-4.91	-6.53	-2.62	4.52
Basic EPS, GAAP	1.15	3.23	15.94	14.1	-0.75	5.51	-4.03	10.77	3.12
Basic EPS from Cont Ops	1.15	3.23	15.94	14.1	-0.75	5.51	-4.03	10.77	3.12
Diluted EPS, GAAP	1.15	3.23	15.94	13.98	-0.75	5.5	-4.03	10.77	3.12
Diluted EPS from Cont Ops	1.15	3.23	15.94	13.98	-0.75	5.5	-4.03	10.77	3.12
Dividend per Share	0.35	0.5	1.25	1.24	1	1.01	0.99	1	1
Cash Flow per Share	2.29	6.01	2.63	-4.18	-0.25	0.39	1.37	2.82	10.69
Free Cash Flow per Basic Share	0.53	4.17	1.54	-6.38	-3.95	-5.47	-7.95	-9.39	0.7
Cash & Equivalents per Share	1.99	5.44	24.75	38.43	16.49	20.83	10.14	20.93	13.37
Book Value per Share	25.33	27.43	41.67	54.22	52.71	55.85	52.88	62.93	63.59
Tangible Book Value per Share	32.11	39.1	48.39	62.46	56.63	53.54	50.61	61.48	64.51

Scope Industries

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)