Texas Capital Bancshares, Inc. Financial Ratios — TCBIO

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
Return on Common Equity (%)	33.89	37.42	25.85	22.61	19.56	17.49	18.78	22.94	19.85	3.35	12.85	14.97	7.31	2.44	11.8
Return on Assets (%)	1.04	1.29	1.09	0.99	0.83	0.76	0.84	1.1	1.03	0.19	0.7	1.05	0.67	0.26	1.06
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	2.72	2.25	2.48	2.85	2.73	3.12	3.4	3.27	3.55	7.57	10.62	4.64	3.76	5.82	4.15
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	35.35	44.9	40.52	40.88	37.15	34.51	39.72	38.18	37.76	9.29	38.45	44.2	22.93	11.48	34.46
Profit Margin (%)	22.67	28.74	26.11	26.25	23.97	22.2	24.03	30	29.73	6.7	28.88	34.04	17.59	8.31	26.3
Net Income to Common Margin (%)	22.67	28.74	24.52	24.37	22.36	20.8	22.84	29	28.8	5.71	26.75	32.27	15.98	6.46	24.92
Effective Tax Rate (%)	35.76	36	35.55	35.79	35.48	35.69	39.5	21.42	21.27	27.9	24.88	22.99	23.3	27.6	23.68
Dvd Payout Ratio (%)	- -	- -	-0.38	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	33.89	37.42	25.95	22.61	19.56	17.49	18.78	22.94	19.85	3.35	12.85	14.97	7.31	2.44	11.8

Credit (USD)

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	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
Total Debt	2,778	1,874	1,079	1,499	1,894	2,394	3,195	4,295	2,796	3,396	3,129	2,131	2,359	1,545	921
ST Debt	1,332	- -	- -	- -	- -	- -	- -	- -	- -	- -	2,200	1,200	1,500	885	300
LT Debt	1,445	1,874	1,079	1,499	1,894	2,394	3,195	4,295	2,796	3,396	929	931	859	660	621
Total Debt/EBITDA	305.12	198.63	94.03	101.33	114.83	109.77	114.63	134.13	75.01	45.32	33.5	47.07	58.29	28.5	17.65
Net Debt/EBITDA	292.98	176.76	80.63	11.41	9.59	-19.25	11.45	39.51	-42.93	-77.55	-51.58	-63.62	-21.83	-30.31	-22.59
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	3.22	3.63	4.24	3.92	4.01	4.16	4.35	4.89	5.11	4.54	5.61	7.97	8.59	8.12	8.91
Long-Term Debt/Equity (%)	234.53	224.15	98.46	101.03	116.66	119.15	145.04	171.78	99.79	118.27	28.94	30.49	26.86	19.61	17.09
Long-Term Debt/Capital (%)	47.55	83.04	62.54	65.98	67.59	69.44	72.02	73.71	60.64	64.57	17.27	19.84	16.86	15.21	15.4
Long-Term Debt/Total Assets (%)	17.76	17.78	9.21	9.43	10.02	11.04	12.74	15.2	8.59	9	2.67	3.28	3.03	2.15	1.97
Total Debt/Equity (%)	450.66	224.15	98.46	101.03	116.66	119.15	145.04	171.78	99.79	118.27	97.48	69.76	73.74	45.88	25.35
Total Debt/Capital (%)	91.38	83.04	62.54	65.98	67.59	69.44	72.02	73.71	60.64	64.57	58.18	45.39	46.3	35.59	22.84
Total Debt/Total Assets (%)	34.13	17.78	9.21	9.43	10.02	11.04	12.74	15.2	8.59	9	9.01	7.5	8.32	5.03	2.92
Net Debt to Equity	432.72	199.48	84.43	11.38	9.75	-20.9	14.49	50.6	-57.12	-202.37	-150.11	-94.29	-27.62	-48.8	-32.45
Net Debt/Capital (%)	91.05	81.33	58.88	17.93	14.84	-66.25	20.46	45.23	-747.25	147.22	187.53	909.33	-47.71	-142.57	-61.04
EBITDA	9	9	11	15	16	22	28	32	37	75	93	45	40	54	52
EBITDA-CapEx	6	6	7	-1	11	20	16	24	21	72	89	34	24	-11	40
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	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
Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	3.22	3.63	4.24	3.92	4.01	4.16	4.35	4.89	5.11	4.54	5.61	7.97	8.59	8.12	8.91
Long-Term Debt/Equity (%)	234.53	224.15	98.46	101.03	116.66	119.15	145.04	171.78	99.79	118.27	28.94	30.49	26.86	19.61	17.09
Long-Term Debt/Capital (%)	47.55	83.04	62.54	65.98	67.59	69.44	72.02	73.71	60.64	64.57	17.27	19.84	16.86	15.21	15.4
Long-Term Debt/Total Assets (%)	17.76	17.78	9.21	9.43	10.02	11.04	12.74	15.2	8.59	9	2.67	3.28	3.03	2.15	1.97
Total Debt/Equity (%)	450.66	224.15	98.46	101.03	116.66	119.15	145.04	171.78	99.79	118.27	97.48	69.76	73.74	45.88	25.35
Total Debt/Capital (%)	91.38	83.04	62.54	65.98	67.59	69.44	72.02	73.71	60.64	64.57	58.18	45.39	46.3	35.59	22.84
Total Debt/Total Assets (%)	34.13	17.78	9.21	9.43	10.02	11.04	12.74	15.2	8.59	9	9.01	7.5	8.32	5.03	2.92
CFO/Total Liabilities	1.01	0.92	1.8	1.09	0.4	-3.69	0.58	-2.64	-0.81	7.57	2.09	0.58	1.49	1.75	1.29
CFO/CapEx	23.08	25.23	47.5	10.03	13.7	-333.77	10.78	-88.84	-14.42	944.16	159.27	13.13	22.82	7.4	28.65
Altman's Z-Score	0.09	0.09	0.1	0.09	0.09	0.09	0.09	0.1	0.1	0.09	0.1	0.15	0.16	0.14	0.16

Working Capital (USD)

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	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
Accounts Receivable Turnover	1.36	1.44	1.54	1.67	1.69	1.65	1.67	1.71	1.54	1.36	1.38	1.53	1.41	2.33	- -
Days Sales Outstanding	269.08	254.27	237.45	218.03	216.19	221.45	218.57	213.27	237.63	268.43	264.75	238.98	258.06	156.92	- -
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	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
Market Capitalization	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Cash & Cash Equivalents	111	206	154	1,331	1,736	2,814	2,876	3,030	4,396	9,206	7,947	5,012	3,243	3,189	2,099
+ Preferred Equity and Hybrid Capital	- -	- -	150	150	150	150	150	150	150	150	300	300	300	300	300
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	2,778	1,874	1,079	1,499	1,894	2,394	3,195	4,295	2,796	3,396	3,129	2,131	2,359	1,545	921
Enterprise Value	2,523	1,568	1,012	277	278	-295	446	1,295	-1,690	-8,857	-8,056	-5,196	-3,810	-4,868	-879
Total Capital	3,040	2,257	1,726	2,273	2,802	3,448	4,436	5,827	4,610	5,259	5,378	4,695	5,095	4,342	4,030
Total Debt/Capital (%)	91.38	83.04	62.54	65.98	67.59	69.44	72.02	73.71	60.64	64.57	58.18	45.39	46.3	35.59	22.84
Total Debt / EV	1.1	1.2	1.07	5.41	6.81	-8.12	7.17	3.32	-1.65	-0.38	-0.39	-0.41	-0.62	-0.32	-1.05
EV/Sales	7.53	3.73	2.18	0.53	0.46	- -	0.54	1.32	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	277.19	166.14	88.19	18.73	16.87	- -	15.99	40.44	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	33.27	17.56	5.29	1.76	4.04	- -	3.37	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	31.88	16.89	5.18	1.6	3.76	- -	3.09	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Enterprise Value	2,667	1,668	1,076	319	308	-270	469	1,415	-1,450	-5,660	-4,518	-2,581	-584	-1,343	-879
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Sales	335	420	464	519	604	699	820	978	1,050	990	879	977	1,076	932	1,256
TTM EBITDA	9	9	11	15	16	22	28	32	37	75	93	45	40	54	52
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	76	89	191	158	69	-726	132	-680	-240	2,640	657	148	374	480	360
TTM Free Cash Flow to Firm	79	93	195	173	74	-724	144	-672	-224	2,643	661	159	390	545	373

Multiples (USD)

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	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
Price/Free Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	2,523	1,568	1,012	277	278	-295	446	1,295	-1,690	-8,857	-8,056	-5,196	-3,810	-4,868	-879
Low Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	23.99	18.8	12	18.15	18.11
EV/Sales	7.53	3.73	2.18	0.53	0.46	- -	0.54	1.32	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	277.19	166.14	88.19	18.73	16.87	- -	15.99	40.44	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales Average	7.96	3.97	2.32	0.61	0.51	- -	0.57	1.45	- -	- -	- -	- -	- -	- -	- -
EV/Sales High	7.96	3.97	2.32	0.61	0.51	- -	0.57	1.45	- -	- -	- -	- -	- -	- -	- -
EV/Sales Low	7.96	3.97	2.32	0.61	0.51	- -	0.57	1.45	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Average	292.98	176.76	93.69	21.55	18.69	-12.37	16.84	44.2	-38.91	-75.55	-48.37	-56.99	-14.42	-24.77	-16.84
EV/EBITDA High	292.98	176.76	93.69	21.55	18.69	-12.37	16.84	44.2	-38.91	-75.55	-48.37	-56.99	-14.42	-24.77	-16.84
EV/EBITDA Low	292.98	176.76	93.69	21.55	18.69	-12.37	16.84	44.2	-38.91	-75.55	-48.37	-56.99	-14.42	-24.77	-16.84
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	27.01	19.13	18.45	19.43	20.08
High Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	28.9	26.85	23.5	22.71	21.8
Enterprise Value Average	2,667	1,668	1,076	319	308	-270	469	1,415	-1,450	-5,660	-4,518	-2,581	-584	-1,343	-879
Enterprise Value High	2,667	1,668	1,076	319	308	-270	469	1,415	-1,450	-5,660	-4,518	-2,581	-584	-1,343	-879
Enterprise Value Low	2,667	1,668	1,076	319	308	-270	469	1,415	-1,450	-5,660	-4,518	-2,581	-584	-1,343	-879

	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
Shares Outstanding	38	41	41	46	46	50	50	50	50	50	51	49	47	46	44
Diluted Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Revenue per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow per Basic Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash & Equivalents per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Tangible Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Texas Capital Bancshares, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)