Reaves Utility Income Fund Financial Ratios — UTG 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	10/31/2011	10/31/2012	10/31/2013	10/31/2014	10/31/2015	10/31/2016	10/31/2017	10/31/2018	10/31/2019	10/31/2020	10/31/2021	10/31/2022	10/31/2023	10/31/2024	10/31/2025

Return on Common Equity (%)	872.04	858.33	38.04	32.27	-3.16	27.02	18.22	2.17	20.09	-10.4	13.09	-10.69	-3.83	36.4	24.1
Return on Assets (%)	10.63	10.98	10.38	15.95	-1.49	13.05	9.85	1.47	15.78	-8.43	10.79	-8.68	-3.02	29.14	19.43
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	15.98	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	- -	- -	- -	98.26	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Margin (%)	- -	- -	- -	98.26	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	245.74	91.18	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	96.49	97.03	97.27	98.26	123.85	97.71	97.52	83.46	97.89	103.54	97.28	103.51	106.42	99.44	99.23
Profit Margin (%)	96.49	97.03	97.27	98.26	123.85	97.71	97.52	83.46	97.89	103.54	97.28	103.51	106.42	99.44	99.23
Net Income to Common Margin (%)	96.01	97.03	97.27	98.26	123.85	97.71	97.52	83.46	97.89	103.54	97.28	103.51	106.42	99.44	99.23
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	39.12	42.23	41.16	25.42	-283.82	35.81	59.11	333.3	29.64	-58.57	50.01	-68.33	-218.35	20.72	26.37
Sustainable Growth Rate (%)	530.89	495.87	22.39	24.07	-12.12	17.34	7.45	-5.07	14.14	-16.49	6.54	-18	-12.18	28.86	17.74

Credit (USD)

Credit Ratios API ChatGPT

	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	10/31/2011	10/31/2012	10/31/2013	10/31/2014	10/31/2015	10/31/2016	10/31/2017	10/31/2018	10/31/2019	10/31/2020	10/31/2021	10/31/2022	10/31/2023	10/31/2024	10/31/2025

Total Debt	185	290	290	290	320	320	320	445	445	345	450	500	520	650	875
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	185	290	290	290	320	320	320	445	445	345	450	500	520	650	875
Total Debt/EBITDA	- -	- -	- -	1.55	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBIT	- -	- -	- -	1.55	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	2.04	0.74	52.32	46.86	47.75	48.79	57.98	77.05	79.89	82.44	82.48	79.86	78.08	81.41	80.03
Long-Term Debt/Equity (%)	33.94	38.96	35.81	30.56	36.41	28.66	19.84	28.8	25	20.79	20.85	25.07	27.46	22.72	24.83
Long-Term Debt/Capital (%)	92.48	97.42	33.49	33.25	35.76	31.3	22.06	22.36	20	17.21	17.25	20.04	21.54	18.51	19.89
Long-Term Debt/Total Assets (%)	25.08	27.92	26.34	23.34	26.58	22.22	16.41	22.19	19.97	17.14	17.2	20.02	21.44	18.5	19.88
Total Debt/Equity (%)	33.94	38.96	35.81	30.56	36.41	28.66	19.84	28.8	25	20.79	20.85	25.07	27.46	22.72	24.83
Total Debt/Capital (%)	92.48	97.42	33.49	33.25	35.76	31.3	22.06	22.36	20	17.21	17.25	20.04	21.54	18.51	19.89
Total Debt/Total Assets (%)	25.08	27.92	26.34	23.34	26.58	22.22	16.41	22.19	19.97	17.14	17.2	20.02	21.44	18.5	19.88
Net Debt to Equity	-0.02	- -	- -	-0.01	- -	- -	-0.04	- -	- -	- -	-0.06	-0.03	-0.05	- -	- -
Net Debt/Capital (%)	-0.06	- -	- -	-0.01	- -	- -	-0.05	- -	- -	- -	-0.05	-0.03	-0.04	- -	- -
EBITDA	- -	- -	- -	187	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx	- -	- -	- -	187	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	- -	- -	- -	187	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

Liquidity Ratios API ChatGPT

	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	10/31/2011	10/31/2012	10/31/2013	10/31/2014	10/31/2015	10/31/2016	10/31/2017	10/31/2018	10/31/2019	10/31/2020	10/31/2021	10/31/2022	10/31/2023	10/31/2024	10/31/2025

Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	2.04	0.74	52.32	46.86	47.75	48.79	57.98	77.05	79.89	82.44	82.48	79.86	78.08	81.41	80.03
Long-Term Debt/Equity (%)	33.94	38.96	35.81	30.56	36.41	28.66	19.84	28.8	25	20.79	20.85	25.07	27.46	22.72	24.83
Long-Term Debt/Capital (%)	92.48	97.42	33.49	33.25	35.76	31.3	22.06	22.36	20	17.21	17.25	20.04	21.54	18.51	19.89
Long-Term Debt/Total Assets (%)	25.08	27.92	26.34	23.34	26.58	22.22	16.41	22.19	19.97	17.14	17.2	20.02	21.44	18.5	19.88
Total Debt/Equity (%)	33.94	38.96	35.81	30.56	36.41	28.66	19.84	28.8	25	20.79	20.85	25.07	27.46	22.72	24.83
Total Debt/Capital (%)	92.48	97.42	33.49	33.25	35.76	31.3	22.06	22.36	20	17.21	17.25	20.04	21.54	18.51	19.89
Total Debt/Total Assets (%)	25.08	27.92	26.34	23.34	26.58	22.22	16.41	22.19	19.97	17.14	17.2	20.02	21.44	18.5	19.88
CFO/Total Liabilities	44.72	-71.59	16.8	16.32	6.7	-20.12	-97.47	-6.24	22.12	12.87	-76.64	-22.15	0.91	-35.68	-13.02
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	0.14	0.11	0.1	0.65	-0.02	0.12	0.08	0.3	0.56	0.16	0.35	-0.03	-0.12	0.46	0.52

Working Capital (USD)

Working Capital Ratios API ChatGPT

	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	10/31/2011	10/31/2012	10/31/2013	10/31/2014	10/31/2015	10/31/2016	10/31/2017	10/31/2018	10/31/2019	10/31/2020	10/31/2021	10/31/2022	10/31/2023	10/31/2024	10/31/2025

Accounts Receivable Turnover

- -

Days Sales Outstanding

- -

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)

Enterprise Value API ChatGPT

	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	10/31/2011	10/31/2012	10/31/2013	10/31/2014	10/31/2015	10/31/2016	10/31/2017	10/31/2018	10/31/2019	10/31/2020	10/31/2021	10/31/2022	10/31/2023	10/31/2024	10/31/2025

Market Capitalization	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Cash & Cash Equivalents	- -	- -	- -	- -	- -	- -	1	- -	- -	- -	1	1	1	- -	- -
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	185	290	290	290	320	320	320	445	445	345	450	500	520	650	875
Enterprise Value	185	290	290	290	320	320	319	445	445	345	449	499	519	650	875
Total Capital	200	298	866	872	895	1,023	1,451	1,990	2,225	2,005	2,608	2,495	2,414	3,511	4,398
Total Debt/Capital (%)	92.48	97.42	33.49	33.25	35.76	31.3	22.06	22.36	20	17.21	17.25	20.04	21.54	18.51	19.89
Total Debt / EV	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
EV/Sales	2.27	2.88	2.54	1.52	- -	1.81	1.87	12.78	1.3	- -	1.75	- -	- -	0.75	1.13
EV/EBITDA	- -	- -	- -	1.55	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	1.55	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	2.15	- -	5.93	6.05	14.71	- -	- -	- -	4.49	7.58	- -	- -	107.32	- -	- -
EV/Free Cash Flow to Firm	2.15	- -	5.93	6.05	14.71	- -	- -	- -	4.49	7.58	- -	- -	107.32	- -	- -
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Enterprise Value	185	290	290	290	320	320	319	445	445	345	449	499	519	650	875
EV per Share	7.28	9.05	9.06	9.04	9.99	8.62	9.31	9.04	9.14	6.92	8.12	6.97	6.28	7.77	- -
TTM Sales	81	101	114	190	-15	177	171	35	341	-173	257	-214	-70	870	775
TTM EBITDA	- -	- -	- -	187	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Operating Income	- -	- -	- -	187	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	86	-211	49	48	22	-65	-329	-29	99	46	-351	-111	5	-233	-114
TTM Free Cash Flow to Firm	86	-211	49	48	22	-65	-329	-29	99	46	-351	-111	5	-233	-114

Multiples (USD)

Valuation Multiples API ChatGPT

	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	10/31/2011	10/31/2012	10/31/2013	10/31/2014	10/31/2015	10/31/2016	10/31/2017	10/31/2018	10/31/2019	10/31/2020	10/31/2021	10/31/2022	10/31/2023	10/31/2024	10/31/2025

Price/Free Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	1.55	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	185	290	290	290	320	320	319	445	445	345	449	499	519	650	875
Low Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales	2.27	2.88	2.54	1.52	- -	1.81	1.87	12.78	1.3	- -	1.75	- -	- -	0.75	1.13
EV/EBITDA	- -	- -	- -	1.55	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
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	2.27	2.88	2.54	1.52	- -	1.81	1.87	12.78	1.3	- -	1.75	- -	- -	0.75	1.13
EV/Sales High	2.27	2.88	2.54	1.52	- -	1.81	1.87	12.78	1.3	- -	1.75	- -	- -	0.75	1.13
EV/Sales Low	2.27	2.88	2.54	1.52	- -	1.81	1.87	12.78	1.3	- -	1.75	- -	- -	0.75	1.13
EV/EBITDA Average	- -	- -	- -	1.55	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA High	- -	- -	- -	1.55	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Low	- -	- -	- -	1.55	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	- -	- -	1.55	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	1.55	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	1.55	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
High Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value Average	185	290	290	290	320	320	319	445	445	345	449	499	519	650	875
Enterprise Value High	185	290	290	290	320	320	319	445	445	345	449	499	519	650	875
Enterprise Value Low	185	290	290	290	320	320	319	445	445	345	449	499	519	650	875

Shares Outstanding	25	32	32	32	32	35	49	49	49	54	65	72	77	88	91
Diluted Weighted Avg Shares	25	32	32	32	32	37	34	49	49	50	55	72	83	84	- -
Basic Weighted Avg Shares	25	32	32	32	32	37	34	49	49	50	55	72	83	84	- -
Revenue per Share	3.2	3.14	3.56	5.93	-0.46	4.76	4.99	0.71	7.01	-3.47	4.65	-2.99	-0.85	10.41	- -
EBITDA per Share	- -	- -	- -	5.83	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	5.83	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	3.07	3.04	3.47	5.83	-0.57	4.65	4.87	0.59	6.86	-3.59	4.52	-3.1	-0.9	10.35	- -
Basic EPS from Cont Ops	3.09	3.04	3.47	5.83	-0.57	4.65	4.87	0.59	6.86	-3.59	4.52	-3.1	-0.9	10.35	- -
Diluted EPS, GAAP	3.07	3.04	3.47	5.83	-0.57	4.65	4.87	0.59	6.86	-3.59	4.52	-3.1	-0.9	10.35	- -
Diluted EPS from Cont Ops	3.09	3.04	3.47	5.83	-0.57	4.65	4.87	0.59	6.86	-3.59	4.52	-3.1	-0.9	10.35	- -
Dividend per Share	1.22	1.29	1.43	1.48	1.62	1.66	2.88	1.97	2.03	2.1	2.26	2.12	1.97	2.14	- -
Cash Flow per Share	3.39	-6.57	1.53	1.49	0.68	-1.75	-9.59	-0.58	2.03	0.91	-6.36	-1.56	0.06	-2.79	- -
Free Cash Flow per Basic Share	3.39	-6.57	1.53	1.49	0.68	-1.75	-9.59	-0.58	2.03	0.91	-6.36	-1.56	0.06	-2.79	- -
Cash & Equivalents per Share	- -	- -	- -	- -	- -	- -	0.02	- -	- -	- -	0.02	0.01	0.01	- -	- -
Book Value per Share	0.59	0.24	17.99	18.16	17.94	18.93	32.98	31.37	36.55	33.31	39.05	27.85	22.92	34.22	- -
Tangible Book Value per Share	21.46	23.22	25.28	29.61	27.43	30.08	47.04	31.37	36.55	33.31	39.05	27.85	22.92	34.22	- -

Reaves Utility Income Fund