Zovio Inc Financial Ratios — ZVOI Stock

Profitability (USD)

	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y
Return on Common Equity (%)	- -	- -	164.26	110.77	64.47	29.6	9.37	1.87	-14.46	-7.56	2.15	1.08	-13.59	-13.93	-13.85
Return on Assets (%)	16.83	31.41	22.19	33.29	31.54	17.87	6.99	1.71	-13.23	-6.81	2.44	1.67	-21.1	-23.8	-27.29
Return on Capital (%)	60.83	334.91	167.41	110.88	62.51	28.16	8.92	1.79	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	70.21	299.62	66.21	68.01	59.1	29.08	11.72	4.98	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	65.19	71.22	73.57	69.35	68.44	63.63	51.37	50.67	49.89	49.7	50.46	50.9	56.06	56.84	39.1
EBITDA Margin (%)	6.09	16.43	19.29	31.54	31	22.16	12.92	8.53	8.12	4.24	5.43	2.42	21.92	24.71	-12.03
Operating Margin (%)	4.65	15.31	17.99	30.34	29.6	20.31	10.04	4.88	4.64	1.74	3.57	0.89	19.47	21.84	-15.19
Incremental Operating Margin (%)	-43.15	22.2	20.47	52.02	26.99	-281.72	60.52	39.3	6.6	44.3	-16.16	40.99	-302.66	-26.05	- -
Pretax Margin (%)	4.03	15.35	18.1	30.53	29.92	20.69	9.52	2.69	-7.15	-7.82	1.67	-0.66	-13.3	-15.62	-16.15
Profit Margin (%)	3.84	12.11	10.37	17.89	18.69	12.84	6.11	1.51	-12.54	-6.31	1.92	1.05	-13.12	-12.33	-16.1
Net Income to Common Margin (%)	1.67	10.27	10.08	17.89	18.69	12.84	6.11	1.51	-12.54	-6.31	1.92	1.05	-13.12	-12.33	-16.1
Effective Tax Rate (%)	4.75	21.11	42.72	41.42	37.52	37.92	35.87	43.77	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	-129.7	-17.9	-2.82	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	168.89	110.77	64.47	29.6	9.37	1.87	-14.46	-7.56	2.15	1.08	-13.59	-13.93	-13.85

Credit (USD)

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	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y
Total Debt	6	1	- -	- -	17	25	24	22	20	17	20	18	30	34	41
ST Debt	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	13	6	8	7	4
LT Debt	4	- -	- -	- -	17	25	24	22	20	17	7	12	22	27	37
Total Debt/EBITDA	1.13	0.02	- -	- -	0.06	0.12	0.25	0.41	0.44	0.74	0.77	1.64	0.33	0.35	-1.31
Net Debt/EBITDA	-0.28	-1.56	-1.43	-0.84	-0.47	-1	-2.19	-3.8	-6.18	-13.86	-7.17	-15.5	-0.76	-0.33	0.81
Total Debt/EBIT	1.48	0.02	- -	- -	0.06	0.13	0.32	0.71	0.77	1.81	1.18	4.46	0.37	0.39	-1.04
Net Debt/EBIT	-0.37	-1.67	-1.54	-0.87	-0.49	-1.09	-2.82	-6.65	-10.83	-33.71	-10.92	-42.19	-0.85	-0.37	0.64
EBITDA to Interest Expense	- -	149.47	314.05	1,071.36	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	83.28	314.05	1,071.36	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	139.25	292.94	1,030.58	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-51.57	3.41	17.4	37.98	57.33	62.88	89.95	93.61	89.18	91.05	150.02	159.8	150.25	202.71	190.99
Long-Term Debt/Equity (%)	80.6	7.66	- -	- -	4.69	5.21	6.94	6.04	6.63	5.88	5.69	9.26	22.65	45.77	184.58
Long-Term Debt/Capital (%)	36.64	9.19	- -	- -	4.51	5.12	4.46	4.06	4.26	3.77	1.57	2.64	5.52	7.51	11.33
Long-Term Debt/Total Assets (%)	10.14	0.36	- -	- -	2.7	3.39	4.2	3.96	3.97	3.56	2.46	4.38	8.96	16.8	24.78
Total Debt/Equity (%)	119.97	11.2	- -	- -	4.69	5.21	6.94	6.04	6.63	5.88	16.24	13.78	30.61	57.48	207.04
Total Debt/Capital (%)	54.54	13.44	- -	- -	4.51	5.12	4.46	4.06	4.26	3.77	4.47	3.92	7.46	9.43	12.7
Total Debt/Total Assets (%)	15.09	0.53	- -	- -	2.7	3.39	4.2	3.96	3.97	3.56	7.02	6.53	12.11	21.1	27.79
Net Debt to Equity	-29.66	-913.39	-93.28	-79.13	-37.87	-43.25	-61.68	-56.58	-92.92	-109.65	-150.49	-130.32	-70.02	-54.85	-127.67
Net Debt/Capital (%)	-42.16	108.57	169.25	1,974.63	-57.12	-73.83	-65.57	-61.33	-148.55	-235.63	-70.68	-58.99	-20.57	-9.98	-8.58
EBITDA	5	36	88	225	284	209	97	54	46	22	26	11	92	98	-32
EBITDA-CapEx	2	20	88	225	280	204	78	51	43	21	25	10	91	98	-32
Operating Income (Loss)	4	33	82	216	271	192	75	31	26	9	17	4	81	87	-40

Liquidity (USD)

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	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y
Cash Ratio	0.27	0.64	1.14	1.31	1.23	1.54	1.45	1.37	1.8	2.34	1.32	1.33	0.58	0.52	0.33
Current Ratio	0.83	1.08	1.52	1.67	1.59	2.16	1.96	1.94	2.4	2.83	1.79	1.83	1.22	1.09	0.69
Quick Ratio	0.81	0.96	1.43	1.58	1.5	1.8	1.57	1.52	2.16	2.57	1.56	1.59	0.88	0.65	0.44
CFO/Avg Current Liab	0.75	1.21	1.11	1.05	0.96	0.65	0.41	0.08	0.11	0.07	-0.03	-0.06	-0.37	0.26	-0.19
Common Equity/Total Assets	-51.57	3.41	17.4	37.98	57.33	62.88	89.95	93.61	89.18	91.05	150.02	159.8	150.25	202.71	190.99
Long-Term Debt/Equity (%)	80.6	7.66	- -	- -	4.69	5.21	6.94	6.04	6.63	5.88	5.69	9.26	22.65	45.77	184.58
Long-Term Debt/Capital (%)	36.64	9.19	- -	- -	4.51	5.12	4.46	4.06	4.26	3.77	1.57	2.64	5.52	7.51	11.33
Long-Term Debt/Total Assets (%)	10.14	0.36	- -	- -	2.7	3.39	4.2	3.96	3.97	3.56	2.46	4.38	8.96	16.8	24.78
Total Debt/Equity (%)	119.97	11.2	- -	- -	4.69	5.21	6.94	6.04	6.63	5.88	16.24	13.78	30.61	57.48	207.04
Total Debt/Capital (%)	54.54	13.44	- -	- -	4.51	5.12	4.46	4.06	4.26	3.77	4.47	3.92	7.46	9.43	12.7
Total Debt/Total Assets (%)	15.09	0.53	- -	- -	2.7	3.39	4.2	3.96	3.97	3.56	7.02	6.53	12.11	21.1	27.79
CFO/Total Liabilities	30.36	57.45	82.01	81.53	83.06	57.83	37.96	7.38	9.26	6.07	-2.52	-5.35	-30.48	24.81	-11.96
CFO/CapEx	2.9	4.45	- -	- -	61.33	28.49	4.37	3.9	8.73	13.35	-7.37	-8.7	-61.45	- -	- -
Altman's Z-Score	1.75	2.69	5.25	6.59	6.84	4.73	6.11	4.7	4.24	4.85	5.66	5.41	6.29	9.75	4.34

Working Capital (USD)

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	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y
Accounts Receivable Turnover	11.72	10.02	12.59	14.03	15.18	16.18	19.41	28.88	24.76	20.71	18.77	17.32	13.48	18.84	31.25
Days Sales Outstanding	31.15	36.43	28.99	26.01	24.04	22.56	18.81	12.64	14.74	17.62	19.45	21.07	27.07	19.37	11.68
Inventory Turnover	307.6	260.67	833.95	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	1.19	1.4	0.44	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	22.07	16.94	31.63	55.02	41.16	50.64	74.7	101.51	97.49	56.75	46.44	39.83	30.82	19.21	18.61
Accounts Payable Turnover Days	16.54	21.54	11.54	6.63	8.87	7.21	4.89	3.6	3.74	6.43	7.86	9.16	11.84	19	19.61
Cash Conversion Cycle	15.8	16.29	17.89	19.38	15.17	15.36	13.92	9.04	10.99	11.19	11.59	11.91	15.22	0.37	-7.93
Inventory to Cash Days	29.97	35.03	28.56	26.01	24.04	22.56	18.81	12.64	14.74	17.62	19.45	21.07	27.07	19.37	11.68
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y
Market Capitalization	- -	- -	591	1,021	1,203	545	955	512	348	468	266	190	61	151	42
- Cash & Cash Equivalents	7	56	126	189	134	209	213	207	282	308	185	166	69	35	28
+ Preferred Equity and Hybrid Capital	25	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	6	1	- -	- -	17	25	24	22	20	17	20	18	30	34	41
Enterprise Value	24	-56	420	742	932	225	700	315	66	128	99	39	19	149	54
Total Capital	11	5	51	179	368	492	537	545	472	438	447	448	406	361	326
Total Debt/Capital (%)	54.54	13.44	- -	- -	4.51	5.12	4.46	4.06	4.26	3.77	4.47	3.92	7.46	9.43	12.7
Total Debt / EV	0.25	-0.01	- -	- -	0.02	0.11	0.03	0.07	0.3	0.13	0.2	0.45	1.57	0.23	0.76
EV/Sales	0.28	- -	0.93	1.04	1.02	0.24	0.93	0.49	0.12	0.24	0.21	0.09	0.05	0.37	0.21
EV/EBITDA	4.52	- -	4.8	3.3	3.28	1.07	7.21	5.78	1.45	5.74	3.83	3.68	0.21	1.51	- -
EV/EBIT	5.92	- -	5.14	3.43	3.44	1.17	9.28	10.11	2.54	13.97	5.83	10	0.24	1.71	- -
EV/Cash Flow to Firm	2.28	- -	3.19	3.9	4.31	1.5	8.18	22.2	3.52	11.51	- -	- -	- -	5.87	- -
EV/Free Cash Flow to Firm	1.69	- -	3.19	3.9	4.24	1.45	6.66	17.67	3.15	10.71	- -	- -	- -	5.87	- -
Diluted Market Cap	- -	- -	679	1,133	1,314	576	983	527	348	468	272	193	61	151	42
Diluted Enterprise Value	24	-56	553	944	1,197	392	794	342	85	177	107	44	22	150	55
EV per Share	7.13	- -	10.69	13.8	17.82	4.24	12.99	6.96	1.45	2.76	3.08	1.45	0.65	4.65	1.64
TTM Sales	86	218	454	713	915	943	751	639	562	524	475	443	418	397	263
TTM EBITDA	5	36	88	225	284	209	97	54	46	22	26	11	92	98	-32
TTM Operating Income	4	33	82	216	271	192	75	31	26	9	17	4	81	87	-40
TTM Cash Flow to Firm	10	71	132	190	216	150	86	14	19	11	-4	-8	-46	25	-15
TTM Free Cash Flow to Firm	14	87	132	190	219	155	105	18	21	12	-4	-7	-45	25	-15

Multiples (USD)

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	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y
Price/Free Cash Flow	- -	- -	5.15	5.96	5.99	3.71	9.35	29.56	16.58	39.31	-77.28	-28.76	-1.34	5.98	-2.74
EV/EBIT	5.92	- -	5.14	3.43	3.44	1.17	9.28	10.11	2.54	13.97	5.83	10	0.24	1.71	- -
Enterprise Value	24	-56	420	742	932	225	700	315	66	128	99	39	19	149	54
Low Price	- -	- -	9.56	12.75	15.7	8.11	9.51	10.55	7.15	5.38	8.18	5.31	1.33	1.08	1.18
EV/Sales	0.28	- -	0.93	1.04	1.02	0.24	0.93	0.49	0.12	0.24	0.21	0.09	0.05	0.37	0.21
EV/EBITDA	4.52	- -	4.8	3.3	3.28	1.07	7.21	5.78	1.45	5.74	3.83	3.68	0.21	1.51	- -
Price/Earnings	- -	- -	12.9	8	7.03	4.5	20.81	52.93	- -	- -	29.2	41.03	- -	- -	- -
Price/Earnings Average	- -	- -	13.34	7.56	6.38	7.25	16.58	64.86	-5.84	-11.25	38.12	48.18	-2.4	-2.04	-2.45
Price/Earnings High	- -	- -	18.81	11.58	9.36	11.91	23.89	94.21	-7.42	-15.29	55.77	79.78	-5.68	-4.73	-5.76
Price/Earnings Low	- -	- -	8.21	5.37	4.8	3.54	11.18	49.33	-4.63	-7.53	28.78	31.08	-0.72	-0.71	-0.93
Price/Book Value	- -	- -	11.5	5.7	3.42	1.17	1.86	0.98	0.77	1.11	0.62	0.44	0.16	0.46	0.15
Price/Book Value Average	- -	- -	11.9	5.39	3.1	1.88	1.48	1.2	0.91	0.88	0.81	0.52	0.35	0.31	0.36
Price/Book Value High	- -	- -	16.77	8.26	4.55	3.09	2.14	1.74	1.16	1.2	1.19	0.86	0.83	0.71	0.86
Price/Book Value Low	- -	- -	7.32	3.83	2.33	0.92	1	0.91	0.72	0.59	0.61	0.33	0.1	0.11	0.14
Price/Tangible Book Value	- -	- -	4.5	4.36	3.47	1.15	3.01	1.5	1.23	1.78	2.45	1.65	1.11	5.52	-4.45
Price/Tangible Book Value Average	- -	- -	4.65	4.12	3.15	1.86	2.39	1.84	1.46	1.41	3.2	1.94	2.42	3.64	-10.93
Price/Tangible Book Value High	- -	- -	6.56	6.31	4.62	3.05	3.45	2.67	1.85	1.92	4.69	3.21	5.71	8.43	-25.71
Price/Tangible Book Value Low	- -	- -	2.86	2.93	2.37	0.91	1.61	1.4	1.16	0.95	2.42	1.25	0.72	1.26	-4.13
Price/Sales	- -	- -	1.3	1.43	1.31	0.58	1.27	0.8	0.62	0.89	0.56	0.43	0.15	0.38	0.16
Price/Sales Average	- -	- -	1.35	1.35	1.19	0.93	1.01	0.98	0.73	0.71	0.73	0.5	0.32	0.25	0.39
Price/Sales High	- -	- -	1.9	2.07	1.75	1.53	1.46	1.43	0.93	0.97	1.07	0.83	0.74	0.58	0.93
Price/Sales Low	- -	- -	0.83	0.96	0.9	0.46	0.68	0.75	0.58	0.48	0.55	0.32	0.09	0.09	0.15
Price/Cash Flow	- -	- -	4.49	5.37	5.57	3.64	11.16	36.09	18.48	42.25	-65.3	-25.06	-1.32	5.98	-2.74
Price/Cash Flow Average	- -	- -	4.64	5.08	5.05	5.86	8.89	44.23	21.87	33.55	-85.24	-29.42	-2.86	3.94	-6.72
Price/Cash Flow High	- -	- -	6.54	7.78	7.41	9.63	12.81	64.25	27.81	45.59	-124.69	-48.72	-6.75	9.14	-15.82
Price/Cash Flow Low	- -	- -	2.86	3.61	3.8	2.86	5.99	33.64	17.37	22.45	-64.35	-18.98	-0.85	1.36	-2.54
Price/Free Cash Flow Average	- -	- -	5.33	5.63	5.43	5.98	7.44	36.22	19.63	31.21	-100.89	-33.77	-2.91	3.94	-6.72
Price/Free Cash Flow High	- -	- -	7.51	8.63	7.97	9.83	10.73	52.62	24.95	42.41	-147.58	-55.92	-6.86	9.14	-15.82
Price/Free Cash Flow Low	- -	- -	3.28	4	4.09	2.92	5.02	27.55	15.58	20.89	-76.17	-21.79	-0.87	1.36	-2.54
EV/Sales Average	0.28	- -	1.07	1.09	1.06	0.74	0.76	0.69	0.27	0.15	0.38	0.17	0.22	0.25	0.44
EV/Sales High	0.28	- -	1.62	1.81	1.62	1.34	1.21	1.14	0.46	0.41	0.72	0.5	0.65	0.58	0.98
EV/Sales Low	0.28	- -	0.55	0.7	0.77	0.26	0.43	0.46	0.11	- -	0.2	- -	- -	0.08	0.2
EV/EBITDA Average	4.52	-1.56	5.54	3.45	3.43	3.32	5.89	8.12	3.27	3.63	7.06	6.96	1.01	1	-3.7
EV/EBITDA High	4.52	-1.56	8.4	5.73	5.23	6.03	9.35	13.33	5.72	9.63	13.29	20.61	2.97	2.34	-8.13
EV/EBITDA Low	4.52	-1.56	2.86	2.21	2.48	1.17	3.34	5.36	1.41	-1.91	3.76	-0.43	- -	0.34	-1.66
EV/EBIT Average	5.92	-1.67	5.94	3.58	3.59	3.63	7.58	14.2	5.73	8.82	10.75	18.93	1.14	1.13	-2.92
EV/EBIT High	5.92	-1.67	9.01	5.96	5.48	6.57	12.03	23.31	10.01	23.43	20.23	56.09	3.35	2.65	-6.44
EV/EBIT Low	5.92	-1.67	3.07	2.29	2.6	1.28	4.3	9.38	2.47	-4.65	5.73	-1.18	- -	0.38	-1.31
Last Price	- -	- -	15.02	19	23	10.3	17.71	11.32	7.61	10.13	8.3	7.01	2.06	4.74	1.27
High Price	- -	- -	21.9	27.5	30.62	27.26	20.33	20.15	11.45	10.93	15.85	13.63	10.55	7.24	7.34
Enterprise Value Average	24	-56	486	776	974	695	572	442	149	81	182	75	93	98	117
Enterprise Value High	24	-56	736	1,289	1,484	1,260	908	726	261	214	343	221	272	230	257
Enterprise Value Low	24	-56	251	496	704	246	324	292	64	-42	97	-5	- -	33	52

	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y
Shares Outstanding	53	53	54	53	52	54	45	45	46	46	27	27	30	32	34
Diluted Weighted Avg Shares	4	8	45	60	57	56	55	47	46	46	33	28	29	32	33
Basic Weighted Avg Shares	3	3	39	54	52	53	54	45	46	46	32	27	29	32	33
Revenue per Share	25.89	65.45	11.55	13.28	17.5	17.82	13.94	14.13	12.3	11.32	14.82	16.34	14.17	12.43	7.91
EBITDA per Share	1.58	10.76	2.23	4.19	5.43	3.95	1.8	1.2	1	0.48	0.81	0.4	3.11	3.07	-0.95
Operating Income per Share	1.2	10.02	2.08	4.03	5.18	3.62	1.4	0.69	0.57	0.2	0.53	0.15	2.76	2.71	-1.2
Basic EPS, GAAP	0.43	6.72	1.16	2.37	3.27	2.29	0.85	0.21	-1.54	-0.71	0.28	0.17	-1.86	-1.53	-1.27
Basic EPS from Cont Ops	0.99	7.93	1.2	2.37	3.27	2.29	0.85	0.21	-1.54	-0.71	0.28	0.17	-1.86	-1.53	-1.27
Diluted EPS, GAAP	0.32	2.89	1.01	2.14	2.99	2.17	0.83	0.21	-1.54	-0.71	0.28	0.17	-1.86	-1.53	-1.27
Diluted EPS from Cont Ops	0.74	3.41	1.04	2.14	2.99	2.17	0.83	0.21	-1.54	-0.71	0.28	0.17	-1.86	-1.53	-1.27
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	3.13	21.21	3.35	3.54	4.13	2.83	1.59	0.31	0.41	0.24	-0.13	-0.28	-1.56	0.79	-0.46
Free Cash Flow per Basic Share	2.05	16.45	3.35	3.54	4.06	2.73	1.22	0.23	0.36	0.22	-0.14	-0.31	-1.59	0.79	-0.46
Cash & Equivalents per Share	2.22	16.94	4.33	5.2	5.5	6.53	5.16	4.85	6.6	7.73	5.84	6.21	2.43	1.16	0.88
Book Value per Share	-6.08	1.32	1.31	3.33	6.73	8.82	9.51	11.56	9.9	9.13	13.32	15.87	12.74	10.23	8.56
Tangible Book Value per Share	-6.66	1.26	3.34	4.36	6.63	8.92	5.89	7.55	6.18	5.7	3.38	4.24	1.85	0.86	-0.29

Zovio Inc

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)