Tactile Systems Technology, Inc. Financial Ratios — TCMD

Profitability (USD)

	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 (%)	- -	- -	- -	- -	- -	103.29	72.13	-3.04	-83.35	- -	- -	61.9	42.02
Return on Assets (%)	- -	6.82	4.07	5.19	7.21	6.77	8.48	-0.38	-5.65	-7.16	10.63	5.85	6.67
Return on Capital (%)	- -	9.28	5.41	23.48	- -	- -	46.68	- -	- -	- -	- -	24.57	25.96
Return on Invested Capital (%)	- -	9.45	6.02	6.79	- -	- -	9.43	- -	- -	- -	- -	6.3	7.12
Gross Margin (%)	73.71	73.36	73.11	72.87	73.45	71.14	70.84	70.97	71.24	71.31	71.11	73.96	75.91
EBITDA Margin (%)	7.98	9.44	6.8	6	5.21	4.68	7.41	-0.45	0.93	-2.63	8.96	9.89	10.9
Operating Margin (%)	6.4	7.96	5.49	5.05	3.57	2.08	5.54	-1.94	-0.85	-5.17	6.57	7.57	8.89
Incremental Operating Margin (%)	- -	13.44	-2.3	3.79	-1.51	-2.63	16.41	- -	- -	- -	111.44	22.3	19.43
Pretax Margin (%)	6.41	7.95	5.18	5.1	3.83	2.42	5.87	-1.21	-1.1	-6.27	5.75	8.02	9.51
Profit Margin (%)	8.49	4.34	2.22	3.41	5.36	4.61	5.79	-0.33	-5.68	-7.24	10.39	5.79	5.79
Net Income to Common Margin (%)	4	0.65	-0.72	1.93	5.36	4.61	5.79	-0.33	-5.68	-7.24	10.39	5.79	5.79
Effective Tax Rate (%)	- -	45.45	57.23	33.2	- -	- -	1.42	- -	- -	- -	- -	27.8	39.1
Dvd Payout Ratio (%)	-112.1	-569.9	408.19	426.47	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	103.29	72.13	-3.04	-83.35	- -	- -	61.9	42.02

Credit (USD)

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	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	- -	- -	- -	- -	- -	- -	17	21	81	72	50	45	16
ST Debt	- -	- -	- -	- -	- -	- -	1	2	5	5	6	6	3
LT Debt	- -	- -	- -	- -	- -	- -	15	19	75	67	45	39	13
Total Debt/EBITDA	0.01	- -	- -	- -	- -	- -	1.18	-25.65	41.59	-11.13	2.05	1.56	0.44
Net Debt/EBITDA	-2.2	-1.2	-1.65	-6.05	-4.21	-2.99	-1.62	57.38	13.68	-4.15	-1.3	-2.35	-2.32
Total Debt/EBIT	0.01	- -	- -	- -	- -	- -	1.58	-5.9	-45.75	-5.66	2.79	2.03	0.55
Net Debt/EBIT	-2.74	-1.42	-2.05	-7.19	-6.15	-6.72	-2.17	13.19	-15.05	-2.11	-1.77	-3.07	-2.85
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	-2.33	5.93	13.9	34.61
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	-3.02	5.37	12.75	32.31
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	-4.58	4.35	10.64	28.21
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	3	4	2	1
Common Equity/Total Assets	-30.58	-21.81	-15.28	-3.73	3.5	9.08	13.64	11.53	3.38	-3.77	6.72	12.04	20.06
Long-Term Debt/Equity (%)	0.06	0.02	- -	- -	- -	- -	13.44	15.54	58.6	54.99	23.04	18.09	5.83
Long-Term Debt/Capital (%)	0.07	0.02	- -	- -	- -	- -	40.59	46.75	84.55	106.6	64.38	48.37	18
Long-Term Debt/Total Assets (%)	0.05	0.01	- -	- -	- -	- -	9.97	11.14	30.76	26.18	15.85	13.15	4.66
Total Debt/Equity (%)	0.1	0.05	- -	- -	- -	- -	14.73	17.15	62.87	59.5	26.01	20.83	7.29
Total Debt/Capital (%)	0.11	0.05	- -	- -	- -	- -	44.49	51.59	90.7	115.33	72.7	55.7	22.5
Total Debt/Total Assets (%)	0.08	0.04	- -	- -	- -	- -	10.93	12.29	33	28.33	17.9	15.14	5.83
Net Debt to Equity	-29.35	-21.91	-25.88	-51.48	-32.93	-22.51	-20.22	-38.36	20.68	22.19	-16.47	-31.48	-38.12
Net Debt/Capital (%)	-46.99	-28.72	-34.92	91.76	114.86	193.73	-156.89	749.37	43.73	66.18	-386.21	509.72	666.18
EBITDA	3	5	4	5	6	7	14	-1	2	-6	25	29	36
EBITDA-CapEx	3	4	4	4	2	-3	8	-3	- -	-8	22	27	34
Operating Income (Loss)	2	4	3	4	4	3	10	-4	-2	-13	18	22	29

Liquidity (USD)

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	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	1.16	0.87	0.74	3.02	3.02	2.85	2.49	2.19	1.18	0.59	1.83	2.68	2.42
Current Ratio	4.04	4.06	3.09	4.66	5.29	5.28	5.06	4.63	3.29	1.86	3.54	4.36	4.03
Quick Ratio	2.85	3.09	2.23	4.11	4.38	4.48	4.05	3.83	2.62	1.44	2.88	3.78	3.49
CFO/Avg Current Liab	- -	-0.17	0.31	0.6	0.3	0.59	0.13	0.12	0.09	0.11	0.68	0.99	1.05
Common Equity/Total Assets	-30.58	-21.81	-15.28	-3.73	3.5	9.08	13.64	11.53	3.38	-3.77	6.72	12.04	20.06
Long-Term Debt/Equity (%)	0.06	0.02	- -	- -	- -	- -	13.44	15.54	58.6	54.99	23.04	18.09	5.83
Long-Term Debt/Capital (%)	0.07	0.02	- -	- -	- -	- -	40.59	46.75	84.55	106.6	64.38	48.37	18
Long-Term Debt/Total Assets (%)	0.05	0.01	- -	- -	- -	- -	9.97	11.14	30.76	26.18	15.85	13.15	4.66
Total Debt/Equity (%)	0.1	0.05	- -	- -	- -	- -	14.73	17.15	62.87	59.5	26.01	20.83	7.29
Total Debt/Capital (%)	0.11	0.05	- -	- -	- -	- -	44.49	51.59	90.7	115.33	72.7	55.7	22.5
Total Debt/Total Assets (%)	0.08	0.04	- -	- -	- -	- -	10.93	12.29	33	28.33	17.9	15.14	5.83
CFO/Total Liabilities	-6.05	-14.49	24.74	49.2	26.77	50.6	6.41	5.66	2.27	3.9	40.84	49.99	77.78
CFO/CapEx	-1.17	-2.81	3.9	8.44	1.1	0.94	0.42	1.22	1.12	2.71	15.43	17	17.99
Altman's Z-Score	2.03	2.55	2.62	13.76	21.6	30.48	22.01	12.43	3.88	2.52	4.62	5.61	10.43

Working Capital (USD)

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	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	- -	4.1	4.51	5.8	6.7	6.85	6.56	4.84	4.46	4.73	5.6	6.65	7.42
Days Sales Outstanding	- -	89.13	80.97	62.93	54.48	53.26	55.64	75.38	81.86	77.13	65.17	54.88	49.19
Inventory Turnover	- -	3.95	3.64	3.72	3.3	3.73	3.65	2.89	3.17	3.34	3.47	3.7	4.86
Days Inventory Outstanding	- -	92.35	100.4	98.13	110.66	97.77	99.9	126.4	115.21	109.13	105.07	98.53	75.16
Accounts Payable Turnover	- -	5.97	6.56	6.67	8.34	8.9	14.1	13.39	13.12	9.96	9.46	11.77	14.08
Accounts Payable Turnover Days	- -	61.19	55.63	54.74	43.74	41.03	25.88	27.26	27.81	36.66	38.6	31.01	25.92
Cash Conversion Cycle	- -	120.29	125.74	106.33	121.41	110	129.66	174.52	169.26	149.61	131.65	122.41	98.43
Inventory to Cash Days	- -	-3.22	-19.44	-35.2	-56.18	-44.51	-44.26	-51.02	-33.35	-31.99	-39.9	-43.65	-25.98
Inventories	3	4	6	7	11	11	19	19	19	23	23	19	14
Raw Materials	1	2	3	4	7	6	13	11	11	18	15	13	9
Work In Process	1	2	3	4	7	6	13	- -	- -	- -	- -	- -	- -
Finished Goods	1	2	3	3	4	5	7	7	8	5	8	6	5
Other Inventory	-1	-2	-3	-4	-7	-6	-13	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	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	- -	- -	- -	276	503	831	1,277	869	375	230	328	409	663
- Cash & Cash Equivalents	7	5	7	31	24	20	23	48	28	22	61	94	83
+ Preferred Equity and Hybrid Capital	29	31	33	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	- -	- -	- -	17	21	81	72	50	45	16
Enterprise Value	23	26	26	235	459	786	1,240	832	415	265	303	345	580
Total Capital	20	24	27	-3	3	10	37	41	89	63	69	81	71
Total Debt/Capital (%)	0.11	0.05	- -	- -	- -	- -	44.49	51.59	90.7	115.33	72.7	55.7	22.5
Total Debt / EV	- -	- -	- -	- -	- -	- -	0.01	0.03	0.19	0.27	0.17	0.13	0.03
EV/Sales	0.61	0.54	0.41	2.77	4.2	5.46	6.55	4.45	2	1.07	1.1	1.18	1.76
EV/EBITDA	7.69	5.7	6.05	46.25	80.56	116.77	88.37	- -	214.22	- -	12.33	11.92	16.15
EV/EBIT	9.58	6.76	7.5	54.9	117.76	262.72	118.16	- -	- -	- -	16.79	15.57	19.81
EV/Cash Flow to Firm	- -	- -	10.78	33.35	109.5	87.21	494.19	297.88	157.8	31.39	6.99	8.19	13.35
EV/Free Cash Flow to Firm	- -	- -	8.58	29.82	57.29	42.34	145.97	163.67	83.27	25.56	6.63	7.75	12.66
Diluted Market Cap	- -	- -	- -	276	547	881	1,326	869	375	230	331	413	676
Diluted Enterprise Value	23	26	26	246	523	861	1,320	843	428	281	321	364	608
EV per Share	1.71	1.92	1.94	13.93	26.45	43.04	65.57	43.02	21.05	13.18	13.22	14.46	25.36
TTM Sales	37	48	63	85	109	144	189	187	208	247	274	293	330
TTM EBITDA	3	5	4	5	6	7	14	-1	2	-6	25	29	36
TTM Operating Income	2	4	3	4	4	3	10	-4	-2	-13	18	22	29
TTM Cash Flow to Firm	- -	-1	2	7	4	9	3	3	3	8	43	42	43
TTM Free Cash Flow to Firm	- -	-1	3	8	8	19	8	5	5	10	46	45	46

Multiples (USD)

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	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	- -	- -	- -	35.12	68.28	47.5	156.03	170.98	75.26	32.32	8.68	9.61	14.95
EV/EBIT	9.58	6.76	7.5	54.9	117.76	262.72	118.16	- -	- -	- -	16.79	15.57	19.81
Enterprise Value	23	26	26	235	459	786	1,240	832	415	265	303	345	580
Low Price	- -	- -	- -	10	14.37	27.04	40.62	29.47	18.49	6.28	9.7	11.12	8.61
EV/Sales	0.61	0.54	0.41	2.77	4.2	5.46	6.55	4.45	2	1.07	1.1	1.18	1.76
EV/EBITDA	7.69	5.7	6.05	46.25	80.56	116.77	88.37	- -	214.22	- -	12.33	11.92	16.15
Price/Earnings	- -	- -	- -	169.27	85.9	125.53	116.42	- -	- -	- -	11.5	24.12	34.75
Price/Earnings Average	- -	- -	- -	170.21	74.35	132.75	96.31	-1,376.47	-75.33	-13.24	13.43	20.26	18.42
Price/Earnings High	- -	- -	- -	229.92	112.27	201.83	132.15	-2,190.1	-107.74	-24.28	20.99	29.71	36.24
Price/Earnings Low	- -	- -	- -	103.15	42.6	74.52	70.05	-919.6	-30.87	-7.05	7.79	15.66	10.32
Price/Book Value	- -	- -	- -	-100.23	162.24	85.5	61.72	43.31	45.4	-24	17.33	11.4	12.07
Price/Book Value Average	- -	- -	- -	-100.79	140.43	90.42	51.06	42.51	107.64	-24.63	20.24	9.58	6.4
Price/Book Value High	- -	- -	- -	-136.15	212.04	137.47	70.05	67.64	153.96	-45.19	31.64	14.05	12.58
Price/Book Value Low	- -	- -	- -	-61.08	80.45	50.76	37.13	28.4	44.12	-13.13	11.75	7.4	3.58
Price/Tangible Book Value	- -	- -	- -	4.83	7.13	9.91	11.91	7.06	8.71	5.76	2.83	2.87	4.46
Price/Tangible Book Value Average	- -	- -	- -	4.85	6.17	10.48	9.85	6.93	20.65	5.92	3.31	2.41	2.37
Price/Tangible Book Value High	- -	- -	- -	6.55	9.31	15.93	13.51	11.03	29.54	10.86	5.17	3.53	4.65
Price/Tangible Book Value Low	- -	- -	- -	2.94	3.53	5.88	7.16	4.63	8.46	3.15	1.92	1.86	1.32
Price/Sales	- -	- -	- -	3.27	4.6	5.78	6.74	4.65	1.8	0.93	1.19	1.4	2.01
Price/Sales Average	- -	- -	- -	3.29	3.98	6.12	5.58	4.56	4.28	0.96	1.4	1.17	1.07
Price/Sales High	- -	- -	- -	4.44	6.01	9.3	7.65	7.26	6.12	1.76	2.18	1.72	2.1
Price/Sales Low	- -	- -	- -	1.99	2.28	3.43	4.06	3.05	1.75	0.51	0.81	0.91	0.6
Price/Cash Flow	- -	- -	- -	39.28	119.98	92.31	508.85	311.19	142.63	44.23	9.14	10.06	15.49
Price/Cash Flow Average	- -	- -	- -	39.5	103.85	97.61	420.96	305.44	338.15	45.39	10.68	8.45	8.21
Price/Cash Flow High	- -	- -	- -	53.35	156.81	148.41	577.6	485.99	483.66	83.29	16.69	12.4	16.16
Price/Cash Flow Low	- -	- -	- -	23.94	59.49	54.8	306.17	204.06	138.58	24.19	6.2	6.53	4.6
Price/Free Cash Flow Average	- -	- -	- -	35.32	59.1	50.23	129.08	167.83	178.43	33.17	10.14	8.07	7.92
Price/Free Cash Flow High	- -	- -	- -	47.7	89.24	76.37	177.11	267.03	255.21	60.86	15.85	11.83	15.59
Price/Free Cash Flow Low	- -	- -	- -	21.4	33.86	28.2	93.88	112.12	73.13	17.68	5.89	6.24	4.44
EV/Sales Average	0.61	0.54	0.41	2.92	3.76	5.98	5.54	4.42	4.53	1.16	1.36	1	0.86
EV/Sales High	0.61	0.54	0.41	4.08	5.8	9.16	7.62	7.11	6.37	1.96	2.14	1.55	1.89
EV/Sales Low	0.61	0.54	0.41	1.63	2.06	3.29	4.02	2.91	2	0.71	0.77	0.74	0.39
EV/EBITDA Average	7.69	5.7	6.05	48.73	72.19	127.71	74.84	-991.55	486.09	-44.18	15.14	10.16	7.91
EV/EBITDA High	7.69	5.7	6.05	67.94	111.15	195.72	102.85	-1,596.41	683.63	-74.6	23.92	15.69	17.38
EV/EBITDA Low	7.69	5.7	6.05	27.14	39.56	70.38	54.31	-651.91	215.17	-27.17	8.61	7.47	3.6
EV/EBIT Average	9.58	6.76	7.5	57.84	105.53	287.33	100.06	-227.94	-534.65	-22.48	20.63	13.27	9.7
EV/EBIT High	9.58	6.76	7.5	80.65	162.48	440.35	137.51	-366.98	-751.92	-37.95	32.59	20.5	21.32
EV/EBIT Low	9.58	6.76	7.5	32.22	57.83	158.35	72.61	-149.86	-236.66	-13.82	11.73	9.75	4.42
Last Price	- -	- -	- -	16.41	28.98	45.55	67.51	44.94	19.03	11.48	14.3	17.13	29
High Price	- -	- -	- -	22.29	37.88	73.24	76.63	70.18	64.53	21.62	26.11	21.1	30.24
Enterprise Value Average	23	26	26	247	411	859	1,050	827	942	287	372	294	284
Enterprise Value High	23	26	26	345	633	1,317	1,444	1,331	1,325	484	588	455	624
Enterprise Value Low	23	26	26	138	225	473	762	544	417	176	212	216	129

	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	17	17	17	17	18	19	19	19	20	20	24	24	22
Diluted Weighted Avg Shares	13	13	13	17	19	19	20	19	20	20	23	24	23
Basic Weighted Avg Shares	13	13	13	17	17	18	19	19	20	20	23	24	23
Revenue per Share	2.78	3.58	4.71	5.02	6.3	7.88	10.02	9.67	10.55	12.3	11.97	12.27	14.41
EBITDA per Share	0.22	0.34	0.32	0.3	0.33	0.37	0.74	-0.04	0.1	-0.32	1.07	1.21	1.57
Operating Income per Share	0.18	0.28	0.26	0.25	0.22	0.16	0.55	-0.19	-0.09	-0.64	0.79	0.93	1.28
Basic EPS, GAAP	0.11	0.02	-0.03	0.1	0.34	0.36	0.58	-0.03	-0.6	-0.89	1.24	0.71	0.83
Basic EPS from Cont Ops	0.24	0.16	0.1	0.17	0.34	0.36	0.58	-0.03	-0.6	-0.89	1.24	0.71	0.83
Diluted EPS, GAAP	0.11	0.02	-0.03	0.1	0.31	0.34	0.56	-0.03	-0.6	-0.89	1.23	0.7	0.82
Diluted EPS from Cont Ops	0.24	0.16	0.1	0.17	0.31	0.34	0.56	-0.03	-0.6	-0.89	1.23	0.7	0.82
Dividend per Share	- -	- -	- -	0.49	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	-0.03	-0.07	0.18	0.42	0.24	0.49	0.13	0.14	0.13	0.26	1.56	1.7	1.87
Free Cash Flow per Basic Share	-0.06	-0.1	0.13	0.37	0.02	-0.03	-0.18	0.03	0.01	0.16	1.46	1.6	1.77
Cash & Equivalents per Share	0.49	0.41	0.53	2.48	2.53	2.51	2.82	3.03	2.06	1.9	3.28	4.56	4.34
Book Value per Share	-0.67	-0.51	-0.42	-0.16	0.18	0.53	1.09	1.04	0.42	-0.48	0.83	1.5	2.4
Tangible Book Value per Share	-0.76	-0.69	-0.61	3.4	4.07	4.6	5.67	6.36	2.18	1.99	5.05	5.98	6.5

Tactile Systems Technology, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)