Solaris Energy Infrastructure, Inc. Financial Ratios — SEI

Profitability (USD)

	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	12/31/2015	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 (%)	- -	- -	- -	- -	94.29	-61.53	-6.41	218.11	158.19	88.74	135.27
Return on Assets (%)	- -	- -	-2.21	11.19	10.79	-6.4	-0.21	4.87	5.23	1.98	1.84
Return on Capital (%)	- -	-3.91	-21.75	-0.47	6.75	- -	- -	7.56	8.24	3.14	2.37
Return on Invested Capital (%)	- -	3.92	4.68	28.22	23.31	- -	- -	10.4	11.96	5.18	7.44
Gross Margin (%)	35.35	44.16	65.1	59.77	52.59	9.9	10.38	21.81	26.94	25.86	32.32
EBITDA Margin (%)	8.32	36.64	47.62	59.69	55.8	14.52	16.85	22.57	29.87	29.57	35.31
Operating Margin (%)	-8.54	15.76	37.78	50.35	44.66	-11.72	-0.24	13.06	17.52	14.49	21.76
Incremental Operating Margin (%)	- -	103.09	45.9	56.88	19.43	- -	- -	26.24	-35.19	-29.64	29.13
Pretax Margin (%)	-9.19	15.67	71.79	50.16	44.39	-58.33	-0.4	12.91	15.91	11.79	11.75
Profit Margin (%)	- -	- -	-6.19	21.52	21.52	-28.49	-0.55	6.61	8.31	5.05	4.85
Net Income to Common Margin (%)	- -	- -	-6.19	21.52	21.52	-28.49	-0.55	6.61	8.31	5.05	4.85
Effective Tax Rate (%)	- -	1.51	69.67	13.1	15.78	- -	- -	18.89	16.78	21.68	20.08
Dvd Payout Ratio (%)	- -	- -	77	3.64	14.96	-26.32	-820.82	30.1	26.44	34.74	25.12
Sustainable Growth Rate (%)	- -	- -	- -	- -	80.18	-77.73	-59.04	152.47	116.36	57.91	101.29

Credit (USD)

API ChatGPT

	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	12/31/2015	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	1	3	- -	13	9	8	8	20	48	329	1,079
ST Debt	- -	- -	- -	- -	1	1	1	3	4	12	8
LT Debt	- -	3	- -	13	8	8	7	18	44	317	1,071
Total Debt/EBITDA	0.45	0.46	0.01	0.11	0.06	0.55	0.28	0.28	0.55	3.55	4.91
Net Debt/EBITDA	-5.63	-0.12	-1.98	-0.1	-0.5	-4.04	-1.36	-0.01	0.28	2.18	3.24
Total Debt/EBIT	-0.44	1.06	0.01	0.13	0.08	-0.68	-19.43	0.49	0.93	7.25	7.97
Net Debt/EBIT	5.49	-0.27	-2.49	-0.12	-0.62	5	94.31	-0.02	0.47	4.44	5.25
EBITDA to Interest Expense	53.73	289.26	330.89	314.73	212.71	92.28	108.6	147.72	25.36	6.98	7.96
EBITDA-CapEx/Interest Expense	-1,209.45	-186.17	-638.02	-115.98	157.73	63.51	29.09	-18.76	6.7	-7.22	-15.48
EBIT to Interest Expense	-55.14	124.39	262.48	265.47	170.24	-74.52	-1.57	85.49	14.87	3.42	4.91
Interest Expense	- -	- -	- -	- -	1	- -	- -	- -	3	13	28
Common Equity/Total Assets	95.63	92.37	-1.33	7.8	14.76	5.06	1.54	2.85	3.76	1.59	1.24
Long-Term Debt/Equity (%)	0.61	3.95	0.07	3.86	1.95	2.38	2.27	5.56	13.92	47.52	129.42
Long-Term Debt/Capital (%)	0.61	3.78	0.13	6.87	3.49	5.25	6.24	13.06	25.11	48.15	78.24
Long-Term Debt/Total Assets (%)	0.59	3.64	0.06	2.87	1.58	1.83	1.67	3.81	9.38	28.03	49.96
Total Debt/Equity (%)	0.78	4.26	0.08	3.87	2.1	2.6	2.52	6.46	15.14	49.32	130.43
Total Debt/Capital (%)	0.78	4.09	0.15	6.89	3.76	5.72	6.93	15.17	27.31	49.98	78.84
Total Debt/Total Assets (%)	0.75	3.94	0.07	2.88	1.7	1.99	1.85	4.43	10.2	29.09	50.34
Net Debt to Equity	-9.87	-1.07	-24.95	-3.54	-16.33	-19.13	-12.25	-0.26	7.66	30.21	85.96
Net Debt/Capital (%)	-10.9	-1.08	-86.1	-7.25	-41.27	-72.82	-50.7	-0.66	14.29	37.05	70.05
EBITDA	1	7	32	118	135	15	27	72	88	93	220
EBITDA-CapEx	-27	-4	-62	-43	100	10	7	-9	23	-96	-427
Operating Income (Loss)	-1	3	25	99	108	-12	- -	42	51	45	135

Liquidity (USD)

API ChatGPT

	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	12/31/2015	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	2.59	1.16	3.09	0.71	3.28	2.99	1.25	0.16	0.16	1.74	2.16
Current Ratio	4.01	3.2	4.27	2.29	5.77	4.04	2.77	1.59	1.8	3.83	2.96
Quick Ratio	3.23	2.63	3.73	1.83	5.17	3.89	2.44	1.43	1.43	2.84	2.79
CFO/Avg Current Liab	- -	1.57	2.27	4.17	4.12	2.16	0.67	1.6	1.92	1.16	1.83
Common Equity/Total Assets	95.63	92.37	-1.33	7.8	14.76	5.06	1.54	2.85	3.76	1.59	1.24
Long-Term Debt/Equity (%)	0.61	3.95	0.07	3.86	1.95	2.38	2.27	5.56	13.92	47.52	129.42
Long-Term Debt/Capital (%)	0.61	3.78	0.13	6.87	3.49	5.25	6.24	13.06	25.11	48.15	78.24
Long-Term Debt/Total Assets (%)	0.59	3.64	0.06	2.87	1.58	1.83	1.67	3.81	9.38	28.03	49.96
Total Debt/Equity (%)	0.78	4.26	0.08	3.87	2.1	2.6	2.52	6.46	15.14	49.32	130.43
Total Debt/Capital (%)	0.78	4.09	0.15	6.89	3.76	5.72	6.93	15.17	27.31	49.98	78.84
Total Debt/Total Assets (%)	0.75	3.94	0.07	2.88	1.7	1.99	1.85	4.43	10.2	29.09	50.34
CFO/Total Liabilities	69.89	76.76	58.75	98.84	120.39	45.48	15.2	46.75	58.51	12.8	15.89
CFO/CapEx	0.08	0.41	0.28	0.72	3.3	9.41	0.84	0.84	1.39	0.32	0.32
Altman's Z-Score	0.33	0.6	4.24	3.02	4.34	1.88	1.7	2.44	2.08	1.81	1.63

Working Capital (USD)

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	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	12/31/2015	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	- -	5.97	7.71	7.48	6.17	3.63	6.2	6.24	5.02	5.26	7.12
Days Sales Outstanding	- -	61.17	47.36	48.8	59.13	100.66	58.88	58.51	72.74	69.4	51.29
Inventory Turnover	- -	6.63	5.29	8.81	13.01	22.92	109.41	72.07	35.79	26.35	33.16
Days Inventory Outstanding	- -	55.03	69.03	41.42	28.05	15.93	3.34	5.06	10.2	13.85	11.01
Accounts Payable Turnover	- -	14.33	10.41	11.65	17.18	16.21	17.08	14.16	11.16	14.01	8.61
Accounts Payable Turnover Days	- -	25.46	35.07	31.34	21.24	22.52	21.37	25.78	32.69	26.05	42.39
Cash Conversion Cycle	- -	90.73	81.32	58.87	65.94	94.06	40.85	37.79	50.25	57.21	19.9
Inventory to Cash Days	- -	6.15	-21.67	7.38	31.07	84.73	55.55	53.44	62.54	55.55	40.28
Inventories	2	1	8	10	7	1	2	5	7	11	14
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	2	1	8	10	7	4	2	5	7	11	14

Enterprise Value (USD)

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	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	12/31/2015	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	- -	- -	259	310	422	235	202	313	236	828	1,924
- Cash & Cash Equivalents	7	4	63	25	67	60	36	9	6	114	353
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	141	142	146	114	95	101	110	311	263
+ Total Debt	1	3	- -	13	9	8	8	20	48	329	1,079
Enterprise Value	-6	-1	337	441	510	297	267	426	388	1,353	2,913
Total Capital	68	74	137	191	229	143	108	135	175	658	1,368
Total Debt/Capital (%)	0.78	4.09	0.15	6.89	3.76	5.72	6.93	15.17	27.31	49.98	78.84
Total Debt / EV	-0.08	-5.77	- -	0.03	0.02	0.03	0.03	0.05	0.12	0.24	0.37
EV/Sales	- -	- -	5	2.24	2.11	2.89	1.68	1.33	1.32	4.32	4.68
EV/EBITDA	- -	- -	10.5	3.75	3.78	19.9	9.97	5.89	4.43	14.62	13.26
EV/EBIT	- -	- -	13.24	4.44	4.72	- -	- -	10.18	7.56	29.84	21.51
EV/Cash Flow to Firm	- -	- -	12.6	3.78	4.42	6.76	15.76	6.22	4.21	19.4	12.6
EV/Free Cash Flow to Firm	- -	- -	2.79	1.59	3.39	6.11	7.31	2.84	2.48	5.24	3.32
Diluted Market Cap	- -	- -	259	312	423	235	202	313	236	841	2,276
Diluted Enterprise Value	-6	-1	337	443	510	297	267	426	388	1,367	3,265
EV per Share	- -	- -	27.82	17.17	16.9	10.29	8.69	13.52	13.06	47.06	69.59
TTM Sales	14	18	67	197	242	103	159	320	293	313	622
TTM EBITDA	1	7	32	118	135	15	27	72	88	93	220
TTM Operating Income	-1	3	25	99	108	-12	- -	42	51	45	135
TTM Cash Flow to Firm	2	5	27	117	115	44	17	68	92	70	231
TTM Free Cash Flow to Firm	30	15	121	278	150	49	37	150	157	258	878

Multiples (USD)

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	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	12/31/2015	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	- -	- -	2.15	1.13	2.82	4.85	5.58	2.09	1.54	3.4	2.66
EV/EBIT	- -	- -	13.24	4.44	4.72	- -	- -	10.18	7.56	29.84	21.51
Enterprise Value	-6	-1	337	441	510	297	267	426	388	1,353	2,913
Low Price	- -	- -	9.9	10.5	10.24	4.5	6.11	6.6	7.15	6.59	14.27
EV/Sales	- -	- -	5	2.24	2.11	2.89	1.68	1.33	1.32	4.32	4.68
EV/EBITDA	- -	- -	10.5	3.75	3.78	19.9	9.97	5.89	4.43	14.62	13.26
Price/Earnings	- -	- -	- -	7.32	8.11	- -	- -	14.77	9.71	52.37	63.78
Price/Earnings Average	- -	- -	-42.01	9.93	8.34	-7.75	-331.61	15.75	11.26	22.13	45.62
Price/Earnings High	- -	- -	-63.89	14.51	11.19	-14.4	-534.85	21.74	13.82	59.33	79.32
Price/Earnings Low	- -	- -	-28.74	6.35	5.93	-4.43	-216.71	9.82	8.72	11.99	19.8
Price/Book Value	- -	- -	-65.12	8.68	5.66	11.29	32.33	23.75	13.43	45.93	72.38
Price/Book Value Average	- -	- -	-44.02	11.77	5.82	10.91	46.15	25.31	15.57	19.41	51.78
Price/Book Value High	- -	- -	-66.94	17.21	7.81	20.27	74.44	34.94	19.11	52.04	90.02
Price/Book Value Low	- -	- -	-30.11	7.54	4.14	6.24	30.16	15.78	12.06	10.52	22.47
Price/Tangible Book Value	- -	- -	1.12	0.97	1.09	0.79	0.71	1.03	0.78	1.69	2.91
Price/Tangible Book Value Average	- -	- -	0.76	1.32	1.12	0.76	1.02	1.1	0.91	0.71	2.08
Price/Tangible Book Value High	- -	- -	1.15	1.93	1.5	1.41	1.64	1.52	1.11	1.91	3.61
Price/Tangible Book Value Low	- -	- -	0.52	0.84	0.79	0.43	0.67	0.69	0.7	0.39	0.9
Price/Sales	- -	- -	3.85	1.57	1.75	2.29	1.27	0.98	0.81	2.64	3.09
Price/Sales Average	- -	- -	2.6	2.14	1.79	2.21	1.81	1.04	0.94	1.12	2.21
Price/Sales High	- -	- -	3.96	3.12	2.41	4.1	2.92	1.44	1.15	3	3.85
Price/Sales Low	- -	- -	1.78	1.37	1.28	1.26	1.18	0.65	0.72	0.61	0.96
Price/Cash Flow	- -	- -	9.71	2.67	3.67	5.37	12.24	4.6	2.65	13.94	9.2
Price/Cash Flow Average	- -	- -	6.56	3.62	3.77	5.18	17.47	4.9	3.07	5.89	6.58
Price/Cash Flow High	- -	- -	9.98	5.29	5.07	9.63	28.18	6.76	3.77	15.8	11.44
Price/Cash Flow Low	- -	- -	4.49	2.32	2.69	2.97	11.42	3.06	2.38	3.19	2.86
Price/Free Cash Flow Average	- -	- -	1.45	1.53	2.9	4.69	7.97	2.23	1.78	1.43	1.9
Price/Free Cash Flow High	- -	- -	2.21	2.23	3.89	8.71	12.86	3.08	2.19	3.85	3.31
Price/Free Cash Flow Low	- -	- -	0.99	0.98	2.06	2.68	5.21	1.39	1.38	0.78	0.83
EV/Sales Average	- -	- -	3.75	2.8	2.16	2.81	2.22	1.39	1.45	2.8	3.8
EV/Sales High	- -	- -	5.11	3.78	2.77	4.71	3.33	1.79	1.67	4.67	5.43
EV/Sales Low	- -	- -	2.93	2.03	1.64	1.87	1.59	1	1.24	2.28	2.55
EV/EBITDA Average	-5.41	-0.08	7.88	4.69	3.86	19.36	13.18	6.18	4.86	9.46	10.77
EV/EBITDA High	-5.41	-0.08	10.73	6.34	4.97	32.41	19.76	7.93	5.58	15.81	15.39
EV/EBITDA Low	-5.41	-0.08	6.16	3.4	2.94	12.86	9.46	4.44	4.16	7.73	7.22
EV/EBIT Average	5.27	-0.18	9.94	5.56	4.83	-23.98	-913.66	10.67	8.29	19.3	17.47
EV/EBIT High	5.27	-0.18	13.52	7.52	6.2	-40.13	-1,369.52	13.71	9.51	32.27	24.98
EV/EBIT Low	5.27	-0.18	7.76	4.03	3.67	-15.92	-655.95	7.67	7.09	15.77	11.71
Last Price	- -	- -	21.41	12.09	14	8.14	6.55	9.93	7.96	28.78	45.97
High Price	- -	- -	22.01	23.98	19.31	14.61	15.08	14.61	11.33	32.61	57.17
Enterprise Value Average	-6	-1	253	552	521	289	354	446	426	875	2,365
Enterprise Value High	-6	-1	344	746	670	485	530	573	488	1,464	3,382
Enterprise Value Low	-6	-1	198	400	396	192	254	321	364	715	1,586

Shares Outstanding	11	11	19	27	31	29	31	32	29	38	53
Diluted Weighted Avg Shares	10	10	12	26	30	29	31	31	30	29	50
Basic Weighted Avg Shares	10	10	12	26	30	29	31	31	30	29	42
Revenue per Share	1.41	1.8	5.56	7.68	8.02	3.56	5.17	10.17	9.87	10.89	14.86
EBITDA per Share	0.12	0.66	2.65	4.58	4.47	0.52	0.87	2.29	2.95	3.22	5.25
Operating Income per Share	-0.12	0.28	2.1	3.87	3.58	-0.42	-0.01	1.33	1.73	1.58	3.23
Basic EPS, GAAP	- -	- -	-0.34	1.65	1.73	-1.01	-0.03	0.67	0.82	0.55	0.72
Basic EPS from Cont Ops	-0.14	0.28	1.21	3.35	3	-1.77	-0.04	1.06	1.31	1.01	1.4
Diluted EPS, GAAP	- -	- -	-0.34	1.64	1.72	-1.01	-0.03	0.67	0.82	0.54	0.61
Diluted EPS from Cont Ops	-0.14	0.28	1.21	3.33	2.99	-1.77	-0.04	1.06	1.31	0.99	1.18
Dividend per Share	- -	- -	2.13	0.18	0.64	0.66	0.44	0.44	0.47	0.51	0.52
Cash Flow per Share	0.21	0.45	2.21	4.53	3.81	1.52	0.54	2.16	3.01	2.06	5
Free Cash Flow per Basic Share	-2.54	-0.64	-5.55	-1.74	2.65	1.36	-0.1	-0.43	0.84	-4.49	-10.46
Cash & Equivalents per Share	0.69	0.35	5.23	0.98	2.22	2.09	1.19	0.28	0.2	3.97	8.44
Book Value per Share	6.68	7.06	-0.33	1.39	2.47	0.72	0.2	0.42	0.59	0.63	0.64
Tangible Book Value per Share	5.39	5.77	19.12	12.43	12.89	10.36	9.18	9.62	10.17	17.08	15.82

Solaris Energy Infrastructure, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)