The ONE Group Hospitality, Inc. Financial Ratios — STKS

Profitability	2010 Y	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
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	77.77	17.78	-242.06
Return on Assets (%)	-519.08	-2.04	-1.37	-67.09	12.1	14.23	-30.85	-8.02	6.01	15.87	-6.08	14.08	5.2	1.55	-2.48
Return on Capital (%)	- -	- -	- -	- -	-30.15	- -	- -	- -	-13.76	- -	- -	22	7.88	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	33	- -	- -	- -	26.88	- -	- -	13.97	10.25	- -	- -
Gross Margin (%)	- -	- -	- -	26.89	29.5	21.53	21.11	22.14	24.44	20.54	14.71	23.52	21.03	19.77	18.23
EBITDA Margin (%)	- -	- -	- -	3.63	15.72	4.62	5.74	7.17	11.72	11.24	4.91	13.92	11.65	10.22	11.65
Operating Margin (%)	- -	- -	- -	0.32	12.8	1	2.09	3.34	8.42	6.76	-2.22	10.02	7.81	5.52	6.59
Incremental Operating Margin (%)	- -	- -	- -	1.28	113.95	-50.94	7.65	15.83	76.57	2.72	- -	22.87	-7.71	-39.57	7.64
Pretax Margin (%)	- -	- -	- -	-34.67	14.9	-3.66	-8.28	-4.8	5.4	8.27	-13.4	12.1	4.48	0.68	-3.64
Profit Margin (%)	- -	- -	- -	-48.9	9.39	11.45	-23.05	-5.29	3.82	17.26	-9.04	11.31	4.27	1.42	-2.35
Net Income to Common Margin (%)	- -	- -	- -	-48.9	9.39	11.45	-23.05	-5.29	3.82	17.26	-9.04	11.31	4.27	1.42	-5.19
Effective Tax Rate (%)	- -	- -	- -	- -	11.12	- -	- -	- -	15.43	- -	- -	4.73	6.16	- -	- -
Dvd Payout Ratio (%)	- -	- -	-618.51	-8.58	14.09	- -	- -	- -	- -	- -	- -	- -	- -	- -	52.27
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	77.77	17.78	-115.55

Credit	2010 Y	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
Total Debt	- -	- -	1	5	8	14	16	13	10	149	159	133	184	199	641
LT Debt	- -	- -	- -	- -	6	10	13	10	7	144	144	127	176	191	620
ST Debt	- -	- -	1	5	2	4	3	3	3	5	15	6	8	8	21
Total Debt/EBITDA	- -	-1.6	0.11	2.88	0.98	4.87	3.91	2.34	1.03	10.96	22.84	3.44	4.98	5.86	8.17
Net Debt/EBITDA	0.04	-1.6	0.11	-4.44	-0.04	4.21	3.69	2.07	0.87	2.48	4.5	- -	0.46	1.5	3.91
Total Debt/EBIT	- -	-1.6	-1.77	33.01	1.2	22.56	10.74	5.02	1.43	18.21	-50.54	4.77	7.42	10.86	14.45
Net Debt/EBIT	0.04	-1.6	-1.77	-51.02	-0.05	19.5	10.14	4.44	1.21	4.12	-9.95	- -	0.68	2.77	6.91
EBITDA to Interest Expense	-6.5	-145.5	- -	- -	102.3	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	-6.5	-145.5	- -	- -	6.28	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	-6.5	-145.5	- -	- -	83.32	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-2,180	-1.4	-2.76	-64.3	-43.53	-19.76	-53.24	-60.32	-51.3	-3.82	-9.61	4.63	8.3	9.11	- -
Long-Term Debt/Equity (%)	- -	- -	0.05	- -	47.94	50.79	177.52	154.36	59.01	423.17	653.5	209.41	256.29	283.39	305.96
Long-Term Debt/Capital (%)	- -	- -	0.43	- -	-55.87	535.99	-107.3	-51.76	-37.76	102.24	104.7	89.03	85.06	84.33	77.83
Long-Term Debt/Total Assets (%)	- -	- -	0.05	- -	14.46	17.77	25.12	19.08	12.72	69.46	66.63	55.15	60.4	60.17	64.62
Total Debt/Equity (%)	- -	1.67	2.72	55.78	60.62	69.42	220.26	203.82	85.55	438.34	723.85	219.16	267.72	295.86	316.39
Total Debt/Capital (%)	- -	728.12	21.44	-25.87	-70.64	732.69	-133.13	-68.35	-54.74	105.91	115.97	93.17	88.85	88.04	80.48
Total Debt/Total Assets (%)	- -	1.62	2.6	13.04	18.28	24.28	31.17	25.19	18.43	71.96	73.8	57.71	63.1	62.82	66.82
Net Debt to Equity	1.27	1.67	2.72	-86.21	-2.76	60.03	207.82	180.19	72.35	99.17	142.52	0.03	24.67	75.51	151.36
Net Debt/Capital (%)	0.91	728.12	21.44	24.11	1.85	74,788.03	-116.83	-55.99	-42.69	26.27	27.77	0.02	11.17	24.77	39.88
EBITDA	- -	- -	7	2	8	3	4	6	10	14	7	39	37	34	78
EBITDA-CapEx	- -	- -	- -	- -	- -	-11	-6	1	6	9	1	27	4	-20	7
Operating Income (Loss)	- -	- -	- -	- -	6	1	2	3	7	8	-3	28	25	18	44

Liquidity	2010 Y	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
Cash Ratio	0.01	- -	- -	1.11	1.1	0.17	0.07	0.09	0.09	0.44	0.6	0.56	1.21	0.36	0.21
Current Ratio	0.06	0.03	0.02	1.59	2.31	1.07	0.71	0.58	0.65	0.96	0.84	1.02	1.72	0.8	0.53
Quick Ratio	0.01	- -	2.81	1.42	1.88	0.78	0.53	0.43	0.5	0.82	0.75	0.84	1.55	0.67	0.39
CFO/Avg Current Liab	-0.46	- -	0.03	-1.06	0.11	0.22	0.17	0.4	0.37	0.36	0.01	0.75	0.57	0.59	0.47
Common Equity/Total Assets	-2,180	-1.4	-2.76	-64.3	-43.53	-19.76	-53.24	-60.32	-51.3	-3.82	-9.61	4.63	8.3	9.11	- -
Long-Term Debt/Equity (%)	- -	- -	0.05	- -	47.94	50.79	177.52	154.36	59.01	423.17	653.5	209.41	256.29	283.39	305.96
Long-Term Debt/Capital (%)	- -	- -	0.43	- -	-55.87	535.99	-107.3	-51.76	-37.76	102.24	104.7	89.03	85.06	84.33	77.83
Long-Term Debt/Total Assets (%)	- -	- -	0.05	- -	14.46	17.77	25.12	19.08	12.72	69.46	66.63	55.15	60.4	60.17	64.62
Total Debt/Equity (%)	- -	1.67	2.72	55.78	60.62	69.42	220.26	203.82	85.55	438.34	723.85	219.16	267.72	295.86	316.39
Total Debt/Capital (%)	- -	728.12	21.44	-25.87	-70.64	732.69	-133.13	-68.35	-54.74	105.91	115.97	93.17	88.85	88.04	80.48
Total Debt/Total Assets (%)	- -	1.62	2.6	13.04	18.28	24.28	31.17	25.19	18.43	71.96	73.8	57.71	63.1	62.82	66.82
CFO/Total Liabilities	-38.1	-0.12	2.44	-23	3.43	5.6	4.7	12.89	14.67	4.84	0.22	18.29	11.35	12.32	5.84
CFO/CapEx	- -	- -	- -	-5.03	0.14	0.15	0.2	1.3	1.57	1.92	0.07	2.7	0.77	0.57	0.62
Altman's Z-Score	-66.92	-0.09	-0.14	0.57	3.89	2.09	1.4	1.45	2.26	1.07	0.81	3.19	2.26	1.85	1.18

Working Capital	2010 Y	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
Accounts Receivable Turnover	- -	- -	- -	13.9	14.85	15.55	16.05	15.21	13.65	13.89	17.6	32.36	23.83	26.36	60.32
Days Sales Outstanding	- -	- -	- -	26.26	24.58	23.47	22.74	24	26.74	26.28	20.74	11.28	15.32	13.85	6.05
Inventory Turnover	- -	- -	68.61	27.38	32.84	41.46	46.42	45.75	46.1	42.98	43.64	66.2	51.86	44.82	62.92
Days Inventory Outstanding	- -	- -	5.32	13.33	11.12	8.8	7.86	7.98	7.92	8.49	8.36	5.51	7.04	8.14	5.8
Accounts Payable Turnover	- -	- -	1,692.44	23.41	11.38	16.01	18.29	13.66	12.05	14.26	15.37	23.08	20.86	16.64	22.24
Accounts Payable Turnover Days	- -	- -	0.22	15.59	32.07	22.8	19.95	26.71	30.29	25.6	23.75	15.82	17.5	21.94	16.41
Cash Conversion Cycle	- -	- -	- -	24	3.62	9.47	10.65	5.26	4.37	9.18	5.35	0.98	4.86	0.06	-4.56
Inventory to Cash Days	- -	- -	- -	12.93	13.47	14.66	14.88	16.02	18.82	17.79	12.37	5.77	8.28	5.71	0.25
Inventories	- -	- -	1	1	1	1	1	1	1	3	2	4	6	6	11
Raw Materials	- -	- -	- -	1	1	1	1	1	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	1	1	1	1	1	1	3	2	4	6	6	11
Other Inventory	- -	- -	1	-1	-1	-1	-1	-1	- -	- -	- -	- -	- -	- -	- -

Enterprise Value	2010 Y	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
Market Capitalization	- -	- -	- -	- -	122	75	56	61	85	104	107	393	204	193	90
- Cash & Cash Equivalents	- -	- -	- -	12	8	2	1	2	2	12	24	24	55	21	28
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	158
+ Minority/Non Controlling Interest	- -	- -	4	- -	- -	-1	-1	-1	- -	- -	-1	-1	-1	-2	-3
+ Total Debt	- -	- -	1	5	8	14	16	13	10	149	159	133	184	199	641
Enterprise Value	- -	- -	4	-7	121	86	70	72	93	239	240	501	332	370	859
Total Capital	- -	- -	3	-18	-11	2	-12	-20	-19	140	137	142	207	226	796
Total Debt/Capital (%)	- -	728.12	21.44	-25.87	-70.64	732.69	-133.13	-68.35	-54.74	105.91	115.97	93.17	88.85	88.04	80.48
Total Debt / EV	- -	1	0.17	-0.68	0.06	0.16	0.23	0.19	0.11	0.62	0.66	0.26	0.55	0.54	0.75
EV/Sales	- -	- -	- -	- -	2.46	1.42	0.97	0.9	1.09	1.98	1.69	1.81	1.05	1.11	1.28
EV/EBITDA	- -	- -	0.61	- -	15.64	30.69	16.9	12.54	9.29	17.65	34.52	12.99	8.99	10.86	10.95
EV/EBIT	- -	- -	- -	- -	19.21	142.15	46.47	26.92	12.92	29.34	- -	18.03	13.4	20.13	19.37
EV/Cash Flow to Firm	- -	466	142.95	- -	114.44	42	33.45	11.96	14.46	28.65	557.95	16.18	13.13	12.01	19.44
EV/Free Cash Flow to Firm	- -	466	0.59	- -	14.55	5.49	5.53	6.76	8.83	18.83	38.67	11.81	5.73	4.38	7.42
Diluted Market Cap	- -	- -	- -	- -	122	75	56	61	86	108	107	426	213	198	90
Diluted Enterprise Value	- -	- -	4	-7	121	86	70	72	95	244	240	534	341	374	859
EV per Share	- -	0.06	0.34	- -	4.83	3.41	2.8	2.82	3.37	8.42	8.32	16.08	10.23	11.71	27.58
TTM Sales	- -	- -	- -	44	49	61	72	80	86	121	142	277	317	333	673
TTM EBITDA	- -	- -	7	2	8	3	4	6	10	14	7	39	37	34	78
TTM Operating Income	- -	- -	- -	- -	6	1	2	3	7	8	-3	28	25	18	44
TTM Cash Flow to Firm	- -	- -	- -	-6	1	2	2	6	6	8	- -	31	25	31	44
TTM Free Cash Flow to Firm	- -	- -	7	-5	8	16	13	11	11	13	6	42	58	84	116

Multiples	2010 Y	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
Price/Earnings	- -	- -	- -	- -	26.32	10.78	- -	- -	25.93	4.97	- -	12.53	15.08	40.93	- -
Price/Earnings Average	- -	- -	- -	- -	27.11	15.03	-3.86	-11.26	22.75	4.24	-5.36	9.7	21	45.46	-3.76
Price/Earnings High	- -	- -	- -	- -	29.52	18.5	-5.15	-15.91	31.08	5.46	-10.55	16.34	33.16	62.87	-5.66
Price/Earnings Low	- -	- -	- -	- -	24.96	8.06	-2.98	-7.92	15.79	3.28	-1.65	3.28	11.75	26.35	-2.39
Price/Book Value	- -	- -	- -	- -	-6.77	-6.75	-2.01	-1.9	-2.96	-13.13	-5.16	36.94	8.45	6.69	30,116.27
Price/Book Value Average	- -	- -	- -	- -	-6.97	-9.4	-2.32	-1.49	-2.59	-11.2	-3.32	28.6	11.76	7.43	43,870.52
Price/Book Value High	- -	- -	- -	- -	-7.59	-11.58	-3.1	-2.1	-3.54	-14.43	-6.53	48.16	18.57	10.27	65,944.25
Price/Book Value Low	- -	- -	- -	- -	-6.42	-5.04	-1.79	-1.04	-1.8	-8.66	-1.02	9.67	6.58	4.3	27,831.59
Price/Tangible Book Value	- -	- -	- -	- -	9.77	3.81	7.54	9.26	7.04	6.19	18.88	8.73	3.83	3.71	-0.37
Price/Tangible Book Value Average	- -	- -	- -	- -	10.06	5.31	8.72	7.25	6.18	5.28	12.13	6.76	5.33	4.12	-0.54
Price/Tangible Book Value High	- -	- -	- -	- -	10.96	6.54	11.66	10.23	8.44	6.8	23.88	11.38	8.42	5.7	-0.81
Price/Tangible Book Value Low	- -	- -	- -	- -	9.27	2.85	6.73	5.1	4.29	4.08	3.72	2.28	2.98	2.39	-0.34
Price/Sales	- -	- -	- -	- -	2.47	1.23	0.77	0.76	0.99	0.86	0.75	1.42	0.64	0.58	0.13
Price/Sales Average	- -	- -	- -	- -	2.54	1.72	0.89	0.6	0.87	0.73	0.48	1.1	0.9	0.64	0.2
Price/Sales High	- -	- -	- -	- -	2.77	2.12	1.19	0.84	1.19	0.94	0.95	1.85	1.42	0.89	0.29
Price/Sales Low	- -	- -	- -	- -	2.34	0.92	0.69	0.42	0.6	0.57	0.15	0.37	0.5	0.37	0.12
Price/Cash Flow	- -	- -	- -	- -	122.81	36.57	26.49	10.14	13.17	12.39	248.18	12.69	8.08	6.27	2.04
Price/Cash Flow Average	- -	- -	- -	- -	126.48	50.99	30.62	7.93	11.56	10.57	159.46	9.82	11.25	6.97	2.98
Price/Cash Flow High	- -	- -	- -	- -	137.75	62.79	40.92	11.2	15.79	13.61	313.92	16.54	17.77	9.64	4.48
Price/Cash Flow Low	- -	- -	- -	- -	116.48	27.33	23.62	5.58	8.02	8.17	48.97	3.32	6.3	4.04	1.89
Price/Free Cash Flow	- -	- -	- -	- -	14.74	4.78	4.38	5.73	8.19	8.48	17.2	10.04	3.69	2.34	0.78
Price/Free Cash Flow Average	- -	- -	- -	- -	15.18	6.66	5.06	4.48	7.18	7.24	11.05	7.78	5.13	2.6	1.14
Price/Free Cash Flow High	- -	- -	- -	- -	16.53	8.21	6.77	6.33	9.81	9.32	21.76	13.09	8.11	3.6	1.71
Price/Free Cash Flow Low	- -	- -	- -	- -	13.98	3.57	3.91	3.15	4.99	5.59	3.39	2.63	2.87	1.51	0.72
EV/Sales	- -	- -	- -	- -	2.46	1.42	0.97	0.9	1.09	1.98	1.69	1.81	1.05	1.11	1.28
EV/Sales Average	- -	- -	- -	- -	2.53	1.9	1.09	0.73	0.97	1.86	1.42	1.49	1.3	1.17	1.34
EV/Sales High	- -	- -	- -	- -	2.76	2.3	1.39	0.98	1.29	2.07	1.89	2.24	1.82	1.42	1.44
EV/Sales Low	- -	- -	- -	- -	2.33	1.11	0.89	0.56	0.7	1.69	1.09	0.76	0.9	0.9	1.27
EV/EBITDA	- -	- -	0.61	- -	15.64	30.69	16.9	12.54	9.29	17.65	34.52	12.99	8.99	10.86	10.95
EV/EBITDA Average	0.04	-1.6	0.61	-4.25	16.11	41.23	18.99	10.22	8.25	16.53	29.03	10.69	11.16	11.49	11.48
EV/EBITDA High	0.04	-1.6	0.61	-4.25	17.56	49.86	24.2	13.65	10.97	18.41	38.59	16.08	15.62	13.91	12.32
EV/EBITDA Low	0.04	-1.6	0.61	-4.25	14.83	23.94	15.45	7.75	5.98	15.05	22.2	5.47	7.77	8.84	10.86
EV/EBIT	- -	- -	- -	- -	19.21	142.15	46.47	26.92	12.92	29.34	- -	18.03	13.4	20.13	19.37
EV/EBIT Average	0.04	-1.6	-10.14	-48.81	19.79	190.95	52.21	21.95	11.48	27.48	-64.24	14.84	16.64	21.3	20.3
EV/EBIT High	0.04	-1.6	-10.14	-48.81	21.56	230.92	66.52	29.3	15.26	30.59	-85.39	22.33	23.29	25.77	21.79
EV/EBIT Low	0.04	-1.6	-10.14	-48.81	18.21	110.89	42.49	16.65	8.32	25.01	-49.12	7.59	11.58	16.38	19.21
Last Price	- -	- -	- -	- -	4.85	2.97	2.22	2.39	3.07	3.64	3.7	12.61	6.3	6.12	2.9
High Price	- -	- -	- -	- -	5.44	5.1	3.43	2.64	3.68	4	4.68	16.44	13.85	9.4	6.35
Low Price	- -	- -	- -	- -	4.6	2.22	1.98	1.31	1.87	2.4	0.73	3.3	4.91	3.94	2.68
Enterprise Value	- -	- -	4	-7	121	86	70	72	93	239	240	501	332	370	859
Enterprise Value Average	- -	- -	4	-7	125	115	79	58	83	224	202	412	412	391	900
Enterprise Value High	- -	- -	4	-7	136	139	101	78	110	250	269	620	576	473	967
Enterprise Value Low	- -	- -	4	-7	115	67	64	44	60	204	155	211	286	301	852

Per Share Data Items	2010 Y	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
Shares Outstanding	13	13	13	25	25	25	25	27	28	29	29	32	32	31	31
Diluted Weighted Avg Shares	9	8	13	15	25	25	25	25	28	30	29	34	34	32	31
Basic Weighted Avg Shares	9	8	13	15	25	25	25	25	28	28	29	31	32	32	31
Revenue per Share	- -	- -	- -	3.02	1.96	2.41	2.89	3.14	3.1	4.24	4.91	8.9	9.77	10.55	21.61
EBITDA per Share	- -	-0.04	0.56	0.11	0.31	0.11	0.17	0.22	0.36	0.48	0.24	1.24	1.14	1.08	2.52
Operating Income per Share	- -	-0.04	-0.03	0.01	0.25	0.02	0.06	0.1	0.26	0.29	-0.11	0.89	0.76	0.58	1.42
Basic EPS, GAAP	- -	-0.04	-0.03	-1.48	0.18	0.28	-0.67	-0.17	0.12	0.73	-0.44	1.01	0.42	0.15	-1.12
Basic EPS from Cont Ops	- -	-0.04	-0.03	-1.08	0.26	0.28	-0.65	-0.17	0.14	0.74	-0.47	1.03	0.41	0.13	-0.53
Diluted EPS, GAAP	- -	-0.04	-0.03	-1.48	0.18	0.28	-0.67	-0.17	0.12	0.7	-0.44	0.93	0.4	0.15	-1.12
Diluted EPS from Cont Ops	- -	-0.04	-0.03	-1.08	0.26	0.28	-0.65	-0.17	0.14	0.71	-0.47	0.95	0.39	0.12	-0.53
Dividend per Share	- -	- -	0.41	0.1	0.04	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	- -	- -	- -	-0.43	0.04	0.08	0.08	0.24	0.23	0.29	0.01	0.99	0.78	0.98	1.42
Free Cash Flow per Basic Share	- -	- -	-0.57	-0.51	-0.25	-0.46	-0.34	0.05	0.08	0.14	-0.19	0.63	-0.23	-0.72	-0.88
Cash & Equivalents per Share	- -	- -	- -	0.8	0.31	0.07	0.04	0.06	0.06	0.43	0.84	0.76	1.7	0.67	0.89
Book Value per Share	-0.01	-0.05	-0.06	-1.56	-0.72	-0.44	-1.11	-1.26	-1.04	-0.28	-0.72	0.34	0.75	0.92	- -
Tangible Book Value per Share	-0.01	3.4	2.19	0.57	0.5	0.78	0.29	0.26	0.44	0.59	0.2	1.45	1.65	1.65	-7.84

The ONE Group Hospitality, Inc.

Profitability

Credit

Liquidity

Working Capital

Enterprise Value

Multiples

Per Share Data Items