UMH Properties, Inc. Financial Ratios — UMH Stock

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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	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 (%)	261.5	184.06	-140.24	-208.82	-321.39	-119.15	-162.15	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	1.79	2.47	1.65	0.96	0.4	1.8	1.68	-4.25	2.91	0.48	4.33	-0.37	0.58	1.45	1.62
Return on Capital (%)	6.6	6.22	4.77	3.82	3.35	4.75	4.34	- -	5.5	2.61	7.45	- -	3.92	5.21	5.67
Return on Invested Capital (%)	1.75	1.27	1.5	1.49	1.75	2.34	1.98	- -	2.03	2.74	2.95	- -	2.54	2.9	2.99
Gross Margin (%)	40.21	39.21	41.57	44.81	48.34	50.51	50.01	50.1	49.08	52.57	52.65	52.38	53.63	54.58	54.71
EBITDA Margin (%)	24.73	23.13	27.86	31.58	35.91	39.56	38.69	38.79	38.76	42.8	42.49	39.99	41.57	42.69	43.69
Operating Margin (%)	9.57	7.42	9.08	10.35	12.75	16.16	14.23	14.34	13.65	17.31	18.25	15.08	16.35	17.65	18.27
Incremental Operating Margin (%)	-3.34	-3.8	14.15	18.89	29.78	31.87	-0.05	15.03	8.42	48.8	25.08	-45.95	26.24	32.29	25.24
Pretax Margin (%)	9.4	13.83	9.38	5.93	2.63	11.63	11.25	-27.95	18.93	3.09	27.45	-2.54	3.55	8.91	10.04
Profit Margin (%)	9.4	13.83	9.38	5.93	2.63	11.63	11.25	-27.95	18.93	3.09	27.45	-2.48	3.63	8.99	10.12
Net Income to Common Margin (%)	5.19	3.74	-2.76	-4.65	-7.51	-2.59	-3.71	-43.62	1.75	-16.43	11.42	-14.34	-3.94	1.03	2.28
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	423.46	610.68	-680.41	-434.72	-261.8	-704.22	-493.2	-37.62	843.53	-99.14	148.31	-148.42	-543.43	2,834.69	1,290.85
Sustainable Growth Rate (%)	-845.84	-939.93	-1,094.45	-1,116.6	-1,162.81	-958.23	-961.86	- -	- -	- -	- -	- -	- -	- -	- -

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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	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	138	130	259	338	399	410	474	547	457	558	499	900	690	615	761
ST Debt	24	10	49	77	58	58	85	108	- -	- -	- -	138	- -	- -	- -
LT Debt	114	119	210	260	341	351	390	439	457	558	499	762	690	615	761
Total Debt/EBITDA	14.21	11.98	14.94	14.96	13.62	10.44	10.88	10.88	8.05	7.98	6.31	11.49	7.51	5.99	6.66
Net Debt/EBITDA	13.31	10.96	14.5	14.61	13.4	10.33	10.35	10.74	7.82	7.76	4.84	11.11	6.89	5.01	6.03
Total Debt/EBIT	36.74	37.33	45.81	45.65	38.35	25.54	29.59	29.45	22.86	19.73	14.7	30.47	19.1	14.48	15.92
Net Debt/EBIT	34.4	34.16	44.46	44.56	37.72	25.28	28.14	29.05	22.21	19.18	11.28	29.46	17.52	12.13	14.41
EBITDA to Interest Expense	1.69	1.87	2.21	2.1	2.08	2.54	2.75	3.13	3.19	3.83	4.13	2.96	2.83	3.76	3.85
EBITDA-CapEx/Interest Expense	0.5	-1.06	-1.21	-1.8	-1.62	-1.23	-1.16	3.13	3.19	3.83	4.13	2.96	2.83	3.76	3.85
EBIT to Interest Expense	0.65	0.6	0.72	0.69	0.74	1.04	1.01	1.16	1.12	1.55	1.77	1.12	1.11	1.56	1.61
Interest Expense	6	6	8	11	14	15	16	16	18	18	19	26	32	27	30
Common Equity/Total Assets	0.38	0.35	0.35	0.37	0.34	0.33	0.35	-2.44	-2.07	-1.94	-1.59	-1.46	-1.3	-1.1	-0.99
Long-Term Debt/Equity (%)	107.89	68.18	110.06	124.56	138.45	110.81	92.49	103.39	83.71	111.29	67.28	138.19	97.63	67.12	83.91
Long-Term Debt/Capital (%)	66.22	53.65	59.61	60.36	63.43	58.7	54.42	53.92	54.37	59.08	53.04	68.76	71.6	66.82	71.22
Long-Term Debt/Total Assets (%)	51.01	39.73	51.41	54.39	56.79	51.63	47.29	49.84	44.6	51.26	39.29	56.65	48.33	39.31	44.8
Total Debt/Equity (%)	130.51	74.15	135.83	161.64	161.95	129.2	112.6	128.81	83.71	111.29	67.28	163.23	97.63	67.12	83.91
Total Debt/Capital (%)	80.1	58.34	73.57	78.33	74.2	68.44	66.25	67.18	54.37	59.08	53.04	81.22	71.6	66.82	71.22
Total Debt/Total Assets (%)	61.7	43.21	63.45	70.58	66.43	60.2	57.57	62.1	44.6	51.26	39.29	66.91	48.33	39.31	44.8
Net Debt to Equity	122.2	67.84	131.84	157.77	159.29	127.87	107.09	127.06	81.35	108.24	51.63	157.82	89.52	56.23	75.96
Net Debt/Capital (%)	79.03	56.17	72.98	77.92	73.88	68.21	65.11	66.88	53.66	58.41	46.43	80.7	69.8	62.78	69.13
EBITDA	10	11	17	23	29	39	44	50	57	70	79	78	92	103	114
EBITDA-CapEx	3	-6	-9	-19	-23	-19	-18	50	57	70	79	78	92	103	114
Operating Income (Loss)	4	3	6	7	10	16	16	19	20	28	34	30	36	42	48

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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	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	17.75	14.61	12.2	10.88	8.57	14.52	19.68	9.49	8.52	5.46	10.73	3.1	4.33	5.7	4.85
Current Ratio	28.7	22.19	19.68	16.61	12.18	19.37	25.1	14.38	13.14	8.78	14.41	9.8	9.7	11.19	12.28
Quick Ratio	25.02	19.46	16.95	14.23	10.68	17.13	22.88	12.28	11.03	7.6	13.31	5.99	8.15	9.68	10.13
CFO/Avg Current Liab	0.58	2.39	2.21	4.03	3.19	3.38	5.2	4.18	2.91	3.63	3.02	-0.32	5.4	3.68	3.83
Common Equity/Total Assets	0.38	0.35	0.35	0.37	0.34	0.33	0.35	-2.44	-2.07	-1.94	-1.59	-1.46	-1.3	-1.1	-0.99
Long-Term Debt/Equity (%)	107.89	68.18	110.06	124.56	138.45	110.81	92.49	103.39	83.71	111.29	67.28	138.19	97.63	67.12	83.91
Long-Term Debt/Capital (%)	66.22	53.65	59.61	60.36	63.43	58.7	54.42	53.92	54.37	59.08	53.04	68.76	71.6	66.82	71.22
Long-Term Debt/Total Assets (%)	51.01	39.73	51.41	54.39	56.79	51.63	47.29	49.84	44.6	51.26	39.29	56.65	48.33	39.31	44.8
Total Debt/Equity (%)	130.51	74.15	135.83	161.64	161.95	129.2	112.6	128.81	83.71	111.29	67.28	163.23	97.63	67.12	83.91
Total Debt/Capital (%)	80.1	58.34	73.57	78.33	74.2	68.44	66.25	67.18	54.37	59.08	53.04	81.22	71.6	66.82	71.22
Total Debt/Total Assets (%)	61.7	43.21	63.45	70.58	66.43	60.2	57.57	62.1	44.6	51.26	39.29	66.91	48.33	39.31	44.8
CFO/Total Liabilities	7.12	7.25	5.17	9.03	7.26	8.04	10.15	8.81	8.04	11.37	12.33	-0.91	16.66	12.6	10.35
CFO/CapEx	1.23	0.54	0.42	0.58	0.49	0.5	0.66	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	1.35	1.39	0.98	0.93	0.85	1.17	1.2	0.96	1.17	1.02	1.92	1.04	1.17	1.7	1.4

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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Sales Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory Turnover	2.26	2.58	2.83	3.02	3.16	3.09	3.22	3.13	2.68	2.7	3.59	1.66	1.69	3.22	3.07
Days Inventory Outstanding	161.2	141.32	128.75	120.78	115.37	117.95	113.4	116.48	136.11	135.05	101.69	219.51	216.31	113.46	119.08
Accounts Payable Turnover	32.18	34.27	28.37	21.98	19.01	18.07	19.07	20.72	19.64	15.86	19.93	29.65	7.51	15.8	18.46
Accounts Payable Turnover Days	11.34	10.65	12.87	16.61	19.2	20.2	19.14	17.62	18.59	23.01	18.31	12.31	48.61	23.1	19.77
Cash Conversion Cycle	149.86	130.67	115.88	104.18	96.17	97.75	94.26	98.86	117.52	112.04	83.37	207.2	167.7	90.37	99.31
Inventory to Cash Days	-161.2	-141.32	-128.75	-120.78	-115.37	-117.95	-113.4	-116.48	-136.11	-135.05	-101.69	-219.51	-216.31	-113.46	-119.08
Inventories	10	12	14	12	14	17	18	24	32	25	24	88	33	35	42
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	10	12	14	12	14	17	18	24	32	25	24	88	33	35	42
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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	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	135	167	176	215	262	419	487	437	628	613	1,266	876	966	1,399	1,338
- Cash & Cash Equivalents	9	11	8	8	7	4	23	7	13	15	116	30	57	100	72
+ Preferred Equity and Hybrid Capital	33	92	92	92	137	187	239	289	405	408	462	225	290	321	323
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2	2	2	2
+ Total Debt	138	130	259	338	399	410	474	547	457	558	499	900	690	615	761
Enterprise Value	255	320	460	572	716	902	1,044	1,165	1,361	1,461	1,998	1,931	1,857	2,205	2,327
Total Capital	173	222	352	431	537	598	716	814	841	945	941	1,108	964	920	1,069
Total Debt/Capital (%)	80.1	58.34	73.57	78.33	74.2	68.44	66.25	67.18	54.37	59.08	53.04	81.22	71.6	66.82	71.22
Total Debt / EV	0.54	0.41	0.56	0.59	0.56	0.45	0.45	0.47	0.34	0.38	0.25	0.47	0.37	0.28	0.33
EV/Sales	6.48	6.84	7.39	8.01	8.79	9.09	9.27	8.99	9.28	8.93	10.73	9.86	8.4	9.17	8.89
EV/EBITDA	26.19	29.57	26.54	25.37	24.47	22.97	23.95	23.18	23.95	20.87	25.26	24.66	20.22	21.47	20.35
EV/EBIT	67.7	92.16	81.4	77.4	68.89	56.23	65.11	62.73	68.02	51.6	58.83	65.4	51.4	51.93	48.68
EV/Cash Flow to Firm	17.99	21.51	24.1	16.33	18.01	20.2	18.4	20.73	24.17	17.16	23.69	100.51	12.17	20.25	20.84
EV/Free Cash Flow to Firm	12.12	10.05	10.02	7.44	7.79	8.77	8.79	20.73	24.17	17.16	23.69	100.51	12.17	20.25	20.84
Diluted Market Cap	136	168	177	215	263	419	487	437	632	613	1,296	876	976	1,414	1,347
Diluted Enterprise Value	298	378	520	636	792	1,011	1,177	1,265	1,482	1,564	2,142	1,973	1,901	2,252	2,361
EV per Share	17.55	19.78	24.57	25.44	27.62	32.43	31.94	31.61	34.1	35.29	43.12	35.5	29.44	29.75	27.69
TTM Sales	39	47	62	71	82	99	113	130	147	164	186	196	221	241	262
TTM EBITDA	10	11	17	23	29	39	44	50	57	70	79	78	92	103	114
TTM Operating Income	4	3	6	7	10	16	16	19	20	28	34	30	36	42	48
TTM Cash Flow to Firm	14	15	19	35	40	45	57	56	56	85	84	19	153	109	112
TTM Free Cash Flow to Firm	21	32	46	77	92	103	119	56	56	85	84	19	153	109	112

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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	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	8.89	6.44	4.65	3.25	3.38	4.79	4.73	10.87	16.42	9.17	19.89	-121.17	8.12	17.33	16.44
EV/EBIT	67.7	92.16	81.4	77.4	68.89	56.23	65.11	62.73	68.02	51.6	58.83	65.4	51.4	51.93	48.68
Enterprise Value	255	320	460	572	716	902	1,044	1,165	1,361	1,461	1,998	1,931	1,857	2,205	2,327
Low Price	8.6	9.15	9.01	9.01	9.01	9	13.65	11.14	11.37	8.63	14.32	15.14	13.26	14.09	13.95
EV/Sales	6.48	6.84	7.39	8.01	8.79	9.09	9.27	8.99	9.28	8.93	10.73	9.86	8.4	9.17	8.89
EV/EBITDA	26.19	29.57	26.54	25.37	24.47	22.97	23.95	23.18	23.95	20.87	25.26	24.66	20.22	21.47	20.35
Price/Earnings	66.22	95.65	- -	- -	- -	- -	- -	- -	244.65	- -	59.59	- -	- -	566.05	224.19
Price/Earnings Average	70.88	99.73	-111.85	-65.95	-41.34	-120.91	-121.82	-9.2	213.61	-20.97	46.77	-38.9	-111.58	514.65	233.29
Price/Earnings High	81.73	112.96	-125.75	-70.56	-45.06	-167.79	-140.03	-10.89	253.82	-25.66	59.96	-53.16	-136.57	618.82	269.7
Price/Earnings Low	61.17	84.72	-98.1	-61.07	-38.16	-97.43	-106.78	-7.27	176.84	-13.29	31.22	-29.33	-95.97	422.44	196.57
Price/Book Value	157.5	160.36	125.17	121.42	128.59	184.28	168.99	-20.27	-29.54	-28.96	-62.69	-44.67	-52.04	-81.48	-79.24
Price/Book Value Average	168.58	167.2	136.5	123.71	124.03	136.76	176.62	-24.15	-25.79	-26.63	-49.2	-55.71	-52.37	-74.08	-82.46
Price/Book Value High	194.38	189.39	153.47	132.35	135.2	189.79	203.02	-28.58	-30.65	-32.59	-63.08	-76.13	-64.1	-89.08	-95.33
Price/Book Value Low	145.49	142.04	119.72	114.55	114.49	110.2	154.81	-19.08	-21.35	-16.87	-32.85	-42	-45.04	-60.81	-69.48
Price/Tangible Book Value	1.87	2.01	1.78	1.83	2.39	3.21	2.67	3.21	4.44	6.53	4.53	2.69	2.32	2.35	2.29
Price/Tangible Book Value Average	2	2.09	1.94	1.87	2.31	2.38	2.79	3.83	3.88	6.01	3.55	3.35	2.33	2.14	2.38
Price/Tangible Book Value High	2.3	2.37	2.18	2	2.52	3.31	3.21	4.53	4.61	7.35	4.55	4.58	2.86	2.57	2.75
Price/Tangible Book Value Low	1.72	1.78	1.7	1.73	2.13	1.92	2.44	3.02	3.21	3.81	2.37	2.53	2.01	1.75	2.01
Price/Sales	3.44	3.57	2.84	3.01	3.22	4.22	4.32	3.37	4.28	3.75	6.8	4.47	4.37	5.82	5.11
Price/Sales Average	3.68	3.73	3.09	3.06	3.11	3.13	4.52	4.01	3.74	3.45	5.34	5.58	4.4	5.29	5.32
Price/Sales High	4.24	4.22	3.48	3.28	3.38	4.34	5.19	4.75	4.44	4.22	6.85	7.62	5.39	6.36	6.15
Price/Sales Low	3.17	3.16	2.71	2.84	2.87	2.52	3.96	3.17	3.1	2.18	3.56	4.21	3.79	4.34	4.48
Price/Cash Flow	16.06	18.41	15.7	8.83	10.21	14.33	11.92	10.87	16.3	9.17	19.42	-121.17	8.05	17.15	16.32
Price/Cash Flow Average	17.19	19.2	17.12	9	9.85	10.64	12.45	12.94	14.23	8.43	15.25	-151.11	8.1	15.59	16.98
Price/Cash Flow High	19.82	21.74	19.24	9.63	10.73	14.76	14.32	15.32	16.91	10.32	19.55	-206.51	9.91	18.75	19.63
Price/Cash Flow Low	14.83	16.31	15.01	8.33	9.09	8.57	10.92	10.22	11.78	5.34	10.18	-113.94	6.96	12.8	14.31
Price/Free Cash Flow Average	9.51	6.72	5.07	3.31	3.26	3.55	4.95	12.94	14.34	8.43	15.61	-151.11	8.18	15.76	17.11
Price/Free Cash Flow High	10.97	7.61	5.7	3.54	3.55	4.93	5.69	15.32	17.03	10.32	20.01	-206.51	10.01	18.95	19.78
Price/Free Cash Flow Low	8.21	5.71	4.45	3.06	3.01	2.86	4.34	10.22	11.87	5.34	10.42	-113.94	7.03	12.94	14.41
EV/Sales Average	7.82	8.22	8.6	8.96	9.59	9.1	10.64	10.4	9.53	9.26	9.88	11.18	8.59	8.77	9.19
EV/Sales High	8.38	8.71	8.99	9.17	9.87	10.31	11.32	11.14	10.24	10.03	11.39	13.23	9.57	9.84	10.02
EV/Sales Low	7.32	7.66	8.22	8.73	9.35	8.49	10.08	9.56	8.89	8	8.11	9.81	7.97	7.82	8.35
EV/EBITDA Average	31.62	35.52	30.88	28.37	26.71	23	27.5	26.82	24.6	21.63	23.26	27.97	20.66	20.54	21.03
EV/EBITDA High	33.89	37.66	32.26	29.05	27.49	26.06	29.24	28.72	26.41	23.44	26.8	33.08	23.03	23.05	22.93
EV/EBITDA Low	29.58	33.1	29.51	27.65	26.05	21.46	26.06	24.65	22.94	18.69	19.08	24.54	19.18	18.32	19.12
EV/EBIT Average	81.74	110.71	94.71	86.55	75.21	56.28	74.77	72.58	69.85	53.5	54.16	74.16	52.52	49.69	50.31
EV/EBIT High	87.62	117.37	98.94	88.62	77.4	63.79	79.52	77.72	75.01	57.96	62.41	87.72	58.55	55.75	54.85
EV/EBIT Low	76.48	103.16	90.53	84.36	73.34	52.52	70.85	66.7	65.13	46.21	44.43	65.06	48.76	44.32	45.73
Last Price	9.31	10.33	9.42	9.55	10.12	15.05	14.9	11.84	15.73	14.81	27.33	16.1	15.32	18.88	15.91
High Price	11.49	12.2	11.55	10.41	10.64	15.5	17.9	16.69	16.32	16.67	27.5	27.44	18.87	20.64	19.14
Enterprise Value Average	307	385	535	640	782	903	1,199	1,348	1,398	1,515	1,839	2,190	1,897	2,110	2,405
Enterprise Value High	330	408	559	655	805	1,023	1,275	1,444	1,501	1,641	2,120	2,590	2,115	2,367	2,623
Enterprise Value Low	288	359	512	624	763	842	1,136	1,239	1,303	1,308	1,509	1,921	1,761	1,882	2,186

Shares Outstanding	15	17	21	24	27	29	35	38	41	42	52	58	68	82	85
Diluted Weighted Avg Shares	15	16	19	22	26	28	33	37	40	41	47	54	64	75	85
Basic Weighted Avg Shares	15	16	19	22	26	28	33	37	40	41	46	54	63	74	84
Revenue per Share	2.71	2.89	3.32	3.18	3.14	3.57	3.45	3.51	3.67	3.95	4.02	3.6	3.5	3.25	3.11
EBITDA per Share	0.67	0.67	0.93	1	1.13	1.41	1.33	1.36	1.42	1.69	1.71	1.44	1.46	1.39	1.36
Operating Income per Share	0.26	0.21	0.3	0.33	0.4	0.58	0.49	0.5	0.5	0.68	0.73	0.54	0.57	0.57	0.57
Basic EPS, GAAP	0.14	0.11	-0.09	-0.15	-0.24	-0.09	-0.13	-1.53	0.06	-0.65	0.46	-0.52	-0.14	0.03	0.07
Basic EPS from Cont Ops	0.25	0.4	0.31	0.19	0.08	0.41	0.39	-0.98	0.7	0.12	1.1	-0.09	0.12	0.29	0.31
Diluted EPS, GAAP	0.14	0.11	-0.09	-0.15	-0.24	-0.09	-0.13	-1.53	0.06	-0.65	0.45	-0.52	-0.14	0.03	0.07
Diluted EPS from Cont Ops	0.25	0.4	0.31	0.19	0.08	0.41	0.39	-0.98	0.69	0.12	1.08	-0.09	0.12	0.29	0.31
Dividend per Share	0.71	0.95	1.03	0.98	0.94	1.16	1.15	1.13	1.17	1.42	1.32	1.2	1.04	1.06	1.09
Cash Flow per Share	0.58	0.56	0.6	1.08	0.99	1.05	1.25	1.09	0.97	1.61	1.41	-0.13	1.9	1.1	0.98
Free Cash Flow per Basic Share	0.11	-0.49	-0.83	-0.78	-1.02	-1.04	-0.65	1.09	0.97	1.61	1.41	-0.13	1.9	1.1	0.98
Cash & Equivalents per Share	3.59	4.22	3.57	3.18	3.14	4.06	4.78	2.9	3.23	2.86	4.96	1.32	1.46	1.78	1.14
Book Value per Share	0.06	0.06	0.08	0.08	0.08	0.08	0.09	-0.58	-0.53	-0.51	-0.44	-0.36	-0.29	-0.23	-0.2
Tangible Book Value per Share	4.99	5.15	5.29	5.21	4.23	4.69	5.58	3.69	3.54	2.27	6.04	5.99	6.61	8.03	6.95

UMH Properties, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)