The Vita Coco Company, Inc. (COCO) · 10+ Years of Financial statements

Income Statement	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Sales/Revenue/Turnover	284	311	380	428	494
+ Sales & Services Revenue	284	311	380	428	494
- Cost of Revenue	191	206	266	324	313
+ Cost of Goods & Services	191	206	266	324	313
Gross Profit	93	105	113	103	181
+ Other Operating Income	- -	- -	- -	- -	- -
- Operating Expenses	79	74	89	100	124
+ Selling, General & Admin	79	74	89	100	124
+ Research & Development	- -	- -	- -	- -	- -
+ Other Operating Expense	- -	- -	- -	- -	- -
Operating Income (Loss)	14	30	25	3	56
- Non-Operating (Income) Loss	3	-13	- -	-8	-1
+ Interest Expense, Net	1	- -	- -	- -	-3
+ Interest Expense	1	1	- -	- -	- -
- Interest Income	- -	- -	- -	- -	3
+ Other Non-Op (Income) Loss	2	-14	- -	-8	1
Pretax Income	11	44	24	11	58
- Income Tax Expense (Benefit)	2	11	5	3	11
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	9	33	19	8	47
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	9	33	19	8	47
- Minority Interest	- -	- -	- -	- -	- -
Net Income, GAAP	9	33	19	8	47
- Preferred Dividends	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	9	33	19	8	47
Basic Weighted Avg Shares	55	55	54	56	56
Basic EPS, GAAP	0.17	0.59	0.35	0.14	0.83
Basic EPS from Cont Ops	0.17	0.59	0.35	0.14	0.83
Diluted Weighted Avg Shares	55	55	54	56	59
Diluted EPS, GAAP	0.17	0.59	0.35	0.14	0.79
Diluted EPS from Cont Ops	0.17	0.59	0.35	0.14	0.79
EBITDA	16	33	27	5	57
EBITDA Margin (%)	5.69	10.49	7.02	1.16	11.58
EBITA	14	30	25	3	56
EBIT	14	30	25	3	56
Gross Margin (%)	32.75	33.76	29.81	24.16	36.61
Operating Margin (%)	4.96	9.8	6.48	0.71	11.44
Profit Margin (%)	3.32	10.51	5.01	1.83	9.45
Sales per Employee	- -	- -	1,350,580	1,590,286	1,678,952
Dividend per Share	- -	- -	- -	- -	- -
Depreciation Expense	2	2	2	2	1

Balance Sheet	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Current Assets	113	159	173	175	263
+ Cash, Cash Equivalents & STI	37	72	29	20	133
+ Cash & Cash Equivalents	37	72	29	20	133
+ ST Investments	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	34	45	57	58	66
+ Accounts Receivable, Net	31	31	47	43	50
+ Notes Receivable, Net	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -
+ Other Receivable, Net	3	14	9	14	16
+ Inventories	37	32	75	84	51
+ Raw Materials	6	3	5	6	3
+ Work In Process	- -	- -	- -	- -	- -
+ Finished Goods	31	29	70	78	47
+ Inventory Adjustments	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -
+ Other ST Assets	5	10	13	14	13
+ Prepaid Expenses	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -
+ Misc ST Assets	- -	- -	- -	- -	- -
Total Noncurrent Assets	33	25	24	23	23
+ Property, Plant & Equip, Net	3	3	2	5	4
+ Property, Plant & Equip	7	7	7	9	9
- Accumulated Depreciation	4	5	4	5	5
+ LT Investments & Receivables	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -
+ Other LT Assets	30	22	22	18	19
+ Total Intangible Assets	18	17	16	8	8
+ Goodwill	8	8	8	8	8
+ Other Intangible Assets	10	9	8	- -	- -
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -
+ Misc LT Assets	11	5	6	10	11
Total Assets	146	184	197	198	286
+ Payables & Accruals	37	50	71	50	69
+ Accounts Payable	15	19	30	18	23
+ Accrued Taxes	2	4	4	2	10
+ Interest & Dividends Payable	- -	- -	- -	- -	- -
+ Other Payables & Accruals	20	28	36	30	36
+ ST Debt	4	- -	- -	1	1
+ ST Borrowings	4	- -	- -	- -	- -
+ ST Finance Leases	- -	- -	- -	1	1
+ Other ST Liabilities	1	5	3	4	12
+ Deferred Revenue	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -
+ Misc ST Liabilities	1	5	3	4	12
Total Current Liabilities	42	56	74	54	83
+ LT Debt	13	25	- -	- -	- -
+ LT Borrowings	13	25	- -	- -	- -
+ LT Finance Leases	- -	- -	- -	- -	- -
+ Other LT Liabilities	17	1	- -	2	1
+ Accrued Liabilities	- -	- -	- -	- -	- -
+ Pension Liabilities	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -
+ Misc LT Liabilities	17	- -	- -	2	1
Total Noncurrent Liabilities	30	26	- -	2	1
Total Liabilities	72	82	74	57	83
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -
+ Share Capital & APIC	99	101	135	146	162
+ Common Stock	1	1	1	1	1
+ Additional Paid in Capital	98	101	135	145	161
- Treasury Stock	2	9	59	59	60
+ Retained Earnings	-4	28	47	55	101
+ Other Equity	-1	-1	-1	-1	-1
Equity Before Minority Interest	74	102	123	141	202
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -
Total Equity	74	102	123	141	202
Total Liabilities & Equity	146	184	197	198	286
Shares Outstanding	55	55	56	56	57
Capital Leases - Total	- -	- -	- -	1	1
Net Debt	-20	-47	-29	-20	-133
Net Debt to Equity	-26.81	-46.07	-23.23	-13.88	-65.46
Tangible Common Equity Ratio	43.45	51.14	59.12	70.17	70.04
Current Ratio	2.68	2.86	2.34	3.22	3.18
Cash Conversion Cycle	- -	66.99	82.26	102.32	86.72
Number of Employees	- -	- -	281	269	294

Cash Flow Statement	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
+ Net Income	9	33	19	8	47
+ Depreciation & Amortization	2	2	2	2	1
+ Non-Cash Items	5	-3	- -	9	10
+ Stock-Based Compensation	2	2	3	7	9
+ Deferred Income Taxes	-1	6	-2	-3	-2
+ Asset Impairment Charge	1	1	- -	10	1
+ Other Non-Cash Adj	2	-12	-2	-6	2
+ Chg in Non-Cash Work Cap	6	1	-37	-29	50
+ (Inc) Dec in Accts Receiv	-5	- -	-17	- -	-7
+ (Inc) Dec in Inventories	11	5	-44	-9	34
+ (Inc) Dec in Prepaid Assets	3	-16	3	-4	-1
+ Inc (Dec) in Accts Payable	-4	13	21	-17	24
+ Inc (Dec) in Other	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -
Cash from Operating Activities	22	33	-16	-11	107
+ Change in Fixed & Intang	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-1	- -	-1	-1	-1
+ Acq of Fixed Prod Assets	-1	- -	-1	-1	-1
+ Acq of Intangible Assets	- -	- -	- -	- -	- -
+ Net Change in LT Investment	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	- -	- -	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -
Cash from Investing Activities	-1	- -	-1	-1	-1
+ Dividends Paid	- -	- -	- -	- -	- -
+ Net Cash From Debt	-10	8	-7	- -	- -
+ Cash From Debt	- -	25	48	22	- -
+ Repayments of Debt	-10	-17	-55	-22	- -
+ Cash (Repurchase) of Equity	- -	-7	-20	- -	-1
+ Increase in Capital Stock	- -	- -	30	- -	- -
+ Decrease in Capital Stock	- -	-7	-50	- -	-1
+ Other Financing Activities	- -	1	- -	3	7
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -
Cash from Financing Activities	-10	2	-27	3	6
Effect of Foreign Exchange Rates	1	- -	- -	- -	- -
Net Changes in Cash	10	35	-44	-9	113
EBITDA	16	33	27	5	57
EBITDA Margin (%)	5.69	10.49	7.02	1.16	11.58
Net Cash Paid for Acquisitions	- -	- -	- -	- -	- -
Free Cash Flow	21	33	-17	-12	107
Free Cash Flow to Firm	22	34	-16	-12	107
Free Cash Flow to Equity	- -	41	-24	-12	107
Free Cash Flow per Basic Share	0.37	0.59	-0.31	-0.21	1.89
Price/Free Cash Flow	- -	- -	-39.68	-78.32	13.98
Cash Flow to Net Income	2.31	1.02	-0.85	-1.4	2.3

The Vita Coco Company, Inc.

COCO US

29.98

29.98