Culp, Inc. (CULP) · 10+ Years of Financial Ratios

Profitability	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	2022 Y	2023 Y
Return on Common Equity (%)	-197.16	191.57	74.93	36.63	37.94	28.48	20.75	20.97	23.97	19.29	4.9	-28.2	3.74	-3.98	-52.04
Return on Assets (%)	-31.93	12.69	13.32	9.68	12.66	11.42	9.07	9.77	11.73	9.86	2.59	-13.19	1.5	-1.64	-19.12
Return on Capital (%)	- -	62.16	- -	29.8	33.22	26.5	19.83	20.69	23.97	19.36	5	- -	2.89	- -	- -
Return on Invested Capital (%)	- -	20.44	- -	14.51	19.01	17.03	12.65	13.91	16.52	13.92	3.34	- -	2.28	- -	- -
Gross Margin (%)	12.09	18.79	16.99	15.62	18.43	17.03	17.92	20.81	22.37	19.97	16.92	15.81	16.63	12.24	4.64
EBITDA Margin (%)	5.93	9.95	9.49	7.79	9.83	8.96	9.27	11.24	12.08	10.96	6.97	5.68	6.47	2.79	-8.43
Operating Margin (%)	2.4	7.74	7.27	5.78	7.84	7.05	7.35	9.06	9.72	8.48	3.98	2.37	4.03	0.23	-11.53
Incremental Operating Margin (%)	8.55	446.77	-1.93	-2.83	44.39	-4.56	11.04	205.98	-52.47	-18.45	57.91	14.12	13.78	233.52	- -
Pretax Margin (%)	-3.38	6.94	6.95	5.58	7.55	6.63	7.4	8.92	9.59	8.3	4.04	-3	3.63	-0.11	-12.08
Profit Margin (%)	-19.05	6.39	7.46	5.23	6.81	6.08	4.86	5.41	7.22	6.45	1.91	-11.19	1.07	-1.09	-13.42
Net Income to Common Margin (%)	-19.05	6.39	7.46	5.23	6.81	6.08	4.86	5.41	7.22	6.45	1.91	-11.19	1.07	-1.09	-13.42
Effective Tax Rate (%)	- -	7.88	- -	6.35	9.72	8.38	34.35	39.3	24.71	21.35	53.55	- -	70.71	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	41.45	12.63	50.29	48.07	28.12	32.78	90.31	-45.48	164.45	-171.63	- -
Sustainable Growth Rate (%)	-197.16	191.57	74.93	36.63	22.21	24.89	10.32	10.89	17.23	12.97	0.48	-41.02	-2.41	-10.81	-52.04

Credit	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	2022 Y	2023 Y
Total Debt	17	16	12	10	7	5	2	- -	- -	- -	1	42	10	10	6
ST Debt	5	- -	2	3	3	2	2	- -	- -	- -	- -	10	3	3	3
LT Debt	12	15	9	7	4	3	- -	- -	- -	- -	1	32	7	7	4
Total Debt/EBITDA	1.4	0.76	0.56	0.51	0.27	0.19	0.08	- -	- -	- -	0.03	2.9	0.49	1.25	-0.32
Net Debt/EBITDA	0.38	-0.13	-0.57	-0.76	-0.62	-0.95	-0.96	-1.07	-0.56	-0.6	-1.9	-2.16	-1.91	-1.77	1.06
Total Debt/EBIT	3.47	0.97	0.73	0.68	0.34	0.25	0.1	- -	- -	- -	0.06	6.95	0.79	15.16	-0.23
Net Debt/EBIT	0.93	-0.17	-0.74	-1.02	-0.78	-1.2	-1.21	-1.33	-0.69	-0.77	-3.34	-5.17	-3.06	-21.46	0.77
EBITDA to Interest Expense	5.13	15.62	23.37	25.4	41.83	60.26	449.2	- -	- -	377.49	492.62	137.25	380.16	484.18	- -
EBITDA-CapEx/Interest Expense	4.29	9.97	16.16	17.85	34.87	47.94	285.75	- -	- -	292.33	414.98	93.99	249.49	149.18	- -
EBIT to Interest Expense	2.08	12.16	17.9	18.85	33.36	47.42	356.08	- -	- -	292.14	280.79	57.3	236.78	39.88	- -
Interest Expense	2	1	1	1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	0.3	11.98	22.81	29.66	37.06	42.79	44.56	48.62	49.22	52.87	52.88	40.51	39.73	42.99	29.45
Long-Term Debt/Equity (%)	24.16	24.37	11.37	7.55	4.6	2.49	- -	- -	- -	- -	0.41	24.49	5.29	5.91	4.05
Long-Term Debt/Capital (%)	67.16	52.9	22.17	12.69	7.24	3.77	- -	- -	- -	- -	0.56	24.56	7.21	8.15	7.07
Long-Term Debt/Total Assets (%)	12.18	13.65	7.02	4.64	3.04	1.73	- -	- -	- -	- -	0.31	14.77	3.19	3.98	2.37
Total Debt/Equity (%)	35.38	24.68	14.37	11.25	7.49	4.46	1.84	- -	- -	- -	0.41	32.53	7.41	8.6	7.02
Total Debt/Capital (%)	98.36	53.58	28.02	18.91	11.78	6.75	2.8	- -	- -	- -	0.56	32.63	10.1	11.87	12.24
Total Debt/Total Assets (%)	17.83	13.82	8.88	6.92	4.95	3.1	1.28	- -	- -	- -	0.31	19.62	4.46	5.79	4.11
Net Debt to Equity	9.52	-4.33	-14.48	-16.87	-17.13	-21.76	-23.05	-29.33	-13.99	-12.99	-23.95	-24.22	-28.69	-12.18	-23.53
Net Debt/Capital (%)	83.41	-25.41	-64.54	-53.77	-43.93	-54.58	-56.36	-79.76	-25.86	-22.58	-48.45	-52.78	-64.25	-20.19	-69.65
EBITDA	12	21	21	20	26	26	29	35	37	35	21	15	19	8	-20
EBITDA-CapEx	10	13	14	14	22	20	18	24	26	27	17	10	13	3	-22
Operating Income (Loss)	5	16	16	15	21	20	23	28	30	27	12	6	12	1	-27

Liquidity	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	2022 Y	2023 Y
Cash Ratio	0.38	0.64	0.86	0.7	0.77	0.92	0.92	1.16	0.5	1.22	1.28	1.87	0.75	0.45	0.51
Current Ratio	1.84	2.1	2.31	2.2	2.69	2.9	2.75	3.16	2.22	3.25	3.5	3.78	2.34	3.29	2.17
Quick Ratio	0.98	1.26	1.43	1.27	1.4	1.63	1.6	1.81	1.04	1.87	1.98	2.53	1.36	1.16	1.08
CFO/Avg Current Liab	0.64	0.67	0.43	0.3	0.42	0.53	0.64	0.68	0.8	0.63	0.37	0.13	0.42	-0.37	0.2
Common Equity/Total Assets	0.3	11.98	22.81	29.66	37.06	42.79	44.56	48.62	49.22	52.87	52.88	40.51	39.73	42.99	29.45
Long-Term Debt/Equity (%)	24.16	24.37	11.37	7.55	4.6	2.49	- -	- -	- -	- -	0.41	24.49	5.29	5.91	4.05
Long-Term Debt/Capital (%)	67.16	52.9	22.17	12.69	7.24	3.77	- -	- -	- -	- -	0.56	24.56	7.21	8.15	7.07
Long-Term Debt/Total Assets (%)	12.18	13.65	7.02	4.64	3.04	1.73	- -	- -	- -	- -	0.31	14.77	3.19	3.98	2.37
Total Debt/Equity (%)	35.38	24.68	14.37	11.25	7.49	4.46	1.84	- -	- -	- -	0.41	32.53	7.41	8.6	7.02
Total Debt/Capital (%)	98.36	53.58	28.02	18.91	11.78	6.75	2.8	- -	- -	- -	0.56	32.63	10.1	11.87	12.24
Total Debt/Total Assets (%)	17.83	13.82	8.88	6.92	4.95	3.1	1.28	- -	- -	- -	0.31	19.62	4.46	5.79	4.11
CFO/Total Liabilities	48.17	43.55	29.81	21.54	34.76	41.1	50.27	57.84	57.86	50.31	25.01	5.82	25.25	-30.04	12.37
CFO/CapEx	11.56	2.9	2.33	2.04	3.88	3.85	2.5	2.34	2.78	3.43	4.25	1.08	3.22	-3.06	3.7
Altman's Z-Score	3.73	5.08	4.6	4.7	6.11	6.34	7.39	8.02	7.51	7.47	6.13	3.14	3.88	3.64	2.43

Working Capital	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	2022 Y	2023 Y
Accounts Receivable Turnover	9.03	10.88	10.83	11.24	11.1	11.31	11.05	11.98	12.88	12.72	11.85	10.49	9.54	9.84	10
Days Sales Outstanding	40.44	33.54	33.7	32.47	32.89	32.29	33.04	30.47	28.33	28.69	30.79	34.8	38.25	37.11	36.51
Inventory Turnover	6.04	6.71	6.58	6.6	5.86	6.02	6.12	5.57	4.9	4.94	4.73	4.37	4.81	4.23	4.01
Days Inventory Outstanding	60.44	54.41	55.5	55.33	62.25	60.58	59.61	65.57	74.43	73.92	77.24	83.58	75.83	86.38	90.94
Accounts Payable Turnover	8.27	8.32	7.63	7.96	8.29	9.71	9.1	9.39	8.44	8.3	9.12	8.94	7.82	8.49	8.09
Accounts Payable Turnover Days	44.14	43.88	47.81	45.83	44.04	37.59	40.12	38.86	43.22	43.96	40.01	40.81	46.7	42.99	45.11
Cash Conversion Cycle	56.73	44.07	41.39	41.96	51.09	55.27	52.53	57.17	59.55	58.64	68.02	77.57	67.37	80.5	82.34
Inventory to Cash Days	-20	-20.87	-21.8	-22.86	-29.35	-28.3	-26.57	-35.1	-46.1	-45.23	-46.45	-48.78	-37.57	-49.27	-54.43
Inventories	24	26	29	36	38	41	42	47	51	53	51	48	56	67	45
Raw Materials	6	6	6	6	5	7	5	5	6	6	6	8	8	13	8
Work In Process	1	2	2	4	3	2	3	3	3	3	2	2	3	4	3
Finished Goods	17	18	20	27	31	32	34	38	42	44	43	38	45	49	35
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value	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	2022 Y	2023 Y
Market Capitalization	58	158	126	140	200	225	325	327	411	375	260	89	176	79	67
- Cash & Cash Equivalents	12	18	23	25	24	29	30	38	21	21	40	70	37	15	21
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	4	- -	- -	- -	- -
+ Total Debt	17	16	12	10	7	5	2	- -	- -	- -	1	42	10	10	6
Enterprise Value	63	152	107	119	178	195	287	285	388	326	220	57	140	75	51
Total Capital	17	29	41	53	61	74	79	85	101	115	121	129	95	87	51
Total Debt/Capital (%)	98.36	53.58	28.02	18.91	11.78	6.75	2.8	- -	- -	- -	0.56	32.63	10.1	11.87	12.24
Total Debt / EV	0.27	0.1	0.11	0.08	0.04	0.03	0.01	- -	- -	- -	- -	0.75	0.07	0.14	0.12
EV/Sales	0.31	0.74	0.49	0.47	0.66	0.68	0.93	0.91	1.25	1.01	0.74	0.22	0.47	0.26	0.22
EV/EBITDA	5.23	7.39	5.18	6.02	6.75	7.56	9.99	8.11	10.38	9.19	10.64	3.89	7.23	9.14	- -
EV/EBIT	12.91	9.5	6.76	8.11	8.46	9.61	12.6	10.06	12.91	11.87	18.67	9.31	11.61	110.94	- -
EV/Cash Flow to Firm	1.75	6.66	6.77	9.37	10.11	9.44	10.98	10.64	11.77	11.83	15.85	11.03	6.52	- -	6.51
EV/Free Cash Flow to Firm	1.66	5.02	4.82	6.41	8.1	7.52	7.85	7.45	8.66	9.17	12.84	5.82	4.98	- -	5.13
Diluted Market Cap	58	158	126	142	204	228	330	333	417	381	264	90	176	80	67
Diluted Enterprise Value	63	155	114	127	187	204	303	295	396	360	228	62	149	75	52
EV per Share	4.96	11.63	8.04	9.39	14.6	15.88	23.51	23.25	31.42	26.18	17.77	4.6	11.38	6.15	4.12
TTM Sales	204	206	217	254	269	287	310	313	310	324	297	256	300	295	235
TTM EBITDA	12	21	21	20	26	26	29	35	37	35	21	15	19	8	-20
TTM Operating Income	5	16	16	15	21	20	23	28	30	27	12	6	12	1	-27
TTM Cash Flow to Firm	36	23	16	13	18	21	26	27	33	28	14	5	21	-17	8
TTM Free Cash Flow to Firm	38	30	22	19	22	26	37	38	45	36	17	10	28	-12	10

Multiples	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	2022 Y	2023 Y
Price/Earnings	- -	11.63	7.62	10.55	10.93	12.83	21.55	19.39	18.36	17.95	46.11	- -	54.73	- -	- -
Price/Earnings Average	-1.48	7.69	8.46	8.66	8.73	13.22	16.32	20.36	17.03	18.46	50.3	-6.22	48.91	-45.23	-1.97
Price/Earnings High	-2.55	15.83	10.79	10.99	11.96	14.29	22.96	24.04	20.51	19.98	69.6	-8.74	65.48	-65.54	-2.44
Price/Earnings Low	-0.5	3.37	7	7.06	6.18	10.56	13.9	16.77	14.45	16.34	37.68	-2.64	20.41	-24.63	-1.55
Price/Book Value	205.28	11.68	4.25	3.27	3.73	3.27	4.25	3.84	4.07	3.26	2.24	1.03	2.07	1.04	1.49
Price/Book Value Average	205.59	7.72	4.72	2.68	2.98	3.37	3.22	4.04	3.77	3.35	2.44	2.03	1.85	1.9	1.39
Price/Book Value High	353.71	15.9	6.02	3.4	4.08	3.64	4.53	4.77	4.54	3.62	3.38	2.86	2.48	2.75	1.72
Price/Book Value Low	68.58	3.39	3.9	2.18	2.11	2.69	2.74	3.33	3.2	2.97	1.83	0.86	0.77	1.04	1.09
Price/Tangible Book Value	1.59	3.05	1.83	1.81	2.38	2.25	3.01	2.79	3	2.51	2.06	0.71	1.4	0.68	0.77
Price/Tangible Book Value Average	1.6	2.02	2.03	1.48	1.9	2.31	2.28	2.93	2.78	2.58	2.24	1.4	1.25	1.24	0.72
Price/Tangible Book Value High	2.75	4.16	2.59	1.88	2.6	2.5	3.21	3.46	3.35	2.79	3.1	1.97	1.67	1.8	0.89
Price/Tangible Book Value Low	0.53	0.89	1.68	1.21	1.34	1.85	1.94	2.41	2.36	2.28	1.68	0.59	0.52	0.68	0.56
Price/Sales	0.28	0.74	0.57	0.55	0.75	0.78	1.05	1.05	1.32	1.16	0.88	0.35	0.59	0.27	0.28
Price/Sales Average	0.28	0.49	0.63	0.45	0.59	0.8	0.79	1.1	1.23	1.19	0.96	0.7	0.53	0.49	0.26
Price/Sales High	0.49	1.01	0.8	0.57	0.81	0.87	1.12	1.3	1.48	1.29	1.33	0.98	0.7	0.71	0.33
Price/Sales Low	0.09	0.22	0.52	0.37	0.42	0.64	0.68	0.91	1.04	1.05	0.72	0.3	0.22	0.27	0.21
Price/Cash Flow	2.53	7.11	8.31	11.69	11.73	11.07	12.44	12.25	12.43	13.64	18.86	18.11	8.2	-4.56	8.55
Price/Cash Flow Average	2.53	4.7	9.23	9.59	9.37	11.41	9.42	12.87	11.53	14.03	20.58	35.88	7.33	-8.33	7.95
Price/Cash Flow High	4.36	9.68	11.77	12.18	12.83	12.33	13.25	15.2	13.89	15.18	28.48	50.43	9.81	-12.07	9.84
Price/Cash Flow Low	0.84	2.06	7.63	7.82	6.63	9.11	8.02	10.6	9.79	12.42	15.41	15.22	3.06	-4.53	6.25
Price/Free Cash Flow	2.33	5.43	5.93	7.94	9.49	8.96	9.03	8.7	9.3	10.74	15.38	9.42	6.27	-6.77	6.73
Price/Free Cash Flow Average	2.33	3.59	6.59	6.51	7.58	9.23	6.84	9.14	8.62	11.04	16.78	18.67	5.6	-12.36	6.26
Price/Free Cash Flow High	4.01	7.4	8.4	8.27	10.38	9.97	9.62	10.79	10.39	11.95	23.22	26.23	7.5	-17.92	7.75
Price/Free Cash Flow Low	0.78	1.58	5.45	5.31	5.36	7.37	5.83	7.53	7.32	9.77	12.57	7.92	2.34	-6.73	4.92
EV/Sales	0.31	0.74	0.49	0.47	0.66	0.68	0.93	0.91	1.25	1.01	0.74	0.22	0.47	0.26	0.22
EV/Sales Average	0.31	0.49	0.59	0.39	0.53	0.72	0.7	0.98	1.17	1.13	0.84	0.58	0.43	0.48	0.2
EV/Sales High	0.52	1.03	0.77	0.52	0.75	0.79	1.03	1.18	1.42	1.22	1.21	0.86	0.61	0.7	0.27
EV/Sales Low	0.12	0.21	0.48	0.31	0.36	0.56	0.59	0.78	0.98	0.99	0.6	0.19	0.13	0.25	0.15
EV/EBITDA	5.23	7.39	5.18	6.02	6.75	7.56	9.99	8.11	10.38	9.19	10.64	3.89	7.23	9.14	- -
EV/EBITDA Average	5.24	4.94	6.24	5.05	5.43	8.07	7.6	8.7	9.65	10.28	12.03	10.27	6.71	17.11	-2.4
EV/EBITDA High	8.7	10.31	8.11	6.62	7.66	8.8	11.08	10.47	11.73	11.17	17.29	15.2	9.46	25.02	-3.15
EV/EBITDA Low	2.03	2.09	5.06	3.97	3.66	6.26	6.33	6.98	8.11	9.03	8.58	3.26	1.98	9.08	-1.73
EV/EBIT	12.91	9.5	6.76	8.11	8.46	9.61	12.6	10.06	12.91	11.87	18.67	9.31	11.61	110.94	- -
EV/EBIT Average	12.93	6.35	8.14	6.8	6.8	10.26	9.59	10.8	12	13.29	21.1	24.6	10.77	207.69	-1.76
EV/EBIT High	21.49	13.26	10.58	8.91	9.6	11.18	13.98	12.99	14.59	14.44	30.34	36.41	15.19	303.76	-2.3
EV/EBIT Low	5.02	2.69	6.6	5.35	4.59	7.95	7.99	8.66	10.08	11.67	15.06	7.81	3.17	110.22	-1.26
Last Price	4.55	12.07	9.5	11.04	16.37	18.38	26.58	26.69	33.3	30.15	21	7.27	14.32	6.5	5.43
High Price	7.84	16.43	13.46	11.5	17.9	20.47	28.32	33.1	37.2	33.55	31.7	20.25	17.13	17.19	6.25
Low Price	1.52	3.5	8.73	7.38	9.25	15.13	17.15	23.09	26.22	27.45	17.16	6.11	5.34	6.46	3.97
Enterprise Value	63	152	107	119	178	195	287	285	388	326	220	57	140	75	51
Enterprise Value Average	63	101	128	100	143	208	218	306	361	365	249	149	130	141	48
Enterprise Value High	105	212	167	131	202	226	319	368	439	396	358	221	183	206	62
Enterprise Value Low	25	43	104	79	97	161	182	245	303	321	178	47	38	75	34

Per Share Data Items	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	2022 Y	2023 Y
Shares Outstanding	13	13	13	13	12	12	12	12	12	12	12	12	12	12	12
Diluted Weighted Avg Shares	13	13	13	13	12	12	12	12	13	13	13	12	12	12	12
Basic Weighted Avg Shares	13	13	13	13	12	12	12	12	12	12	12	12	12	12	12
Revenue per Share	16.12	16.24	16.73	20.02	21.97	23.58	25.39	25.43	25.14	26.04	23.81	20.7	24.37	24.08	19.13
EBITDA per Share	0.96	1.62	1.59	1.56	2.16	2.11	2.35	2.86	3.04	2.85	1.66	1.18	1.58	0.67	-1.61
Operating Income per Share	0.39	1.26	1.22	1.16	1.72	1.66	1.87	2.3	2.44	2.21	0.95	0.49	0.98	0.06	-2.2
Basic EPS, GAAP	-3.07	1.04	1.25	1.05	1.5	1.43	1.23	1.38	1.81	1.68	0.46	-2.32	0.26	-0.26	-2.57
Basic EPS from Cont Ops	-3.07	1.04	1.25	1.05	1.5	1.43	1.23	1.38	1.81	1.68	0.44	-0.9	0.26	-0.26	-2.57
Diluted EPS, GAAP	-3.07	1.01	1.22	1.03	1.47	1.41	1.21	1.36	1.78	1.65	0.45	-2.32	0.26	-0.26	-2.57
Diluted EPS from Cont Ops	-3.07	1.01	1.22	1.03	1.47	1.41	1.21	1.36	1.78	1.65	0.43	-0.9	0.26	-0.26	-2.57
Dividend per Share	- -	- -	- -	- -	0.62	0.18	0.62	0.66	0.51	0.55	0.38	0.41	0.43	0.45	- -
Cash Flow per Share	1.8	1.7	1.14	0.94	1.4	1.66	2.14	2.18	2.68	2.21	1.11	0.4	1.75	-1.42	0.64
Free Cash Flow per Basic Share	1.64	1.11	0.65	0.48	1.04	1.23	1.28	1.25	1.72	1.57	0.85	0.03	1.2	-1.89	0.46
Cash & Equivalents per Share	0.92	1.63	2.33	2.44	2.36	2.91	3.25	3.44	1.88	3.97	3.63	6.1	3.71	1.19	1.81
Book Value per Share	0.02	1.03	2.24	3.38	4.39	5.62	6.25	6.94	8.19	9.26	9.38	7.09	6.91	6.24	3.64
Tangible Book Value per Share	2.85	3.95	5.19	6.1	6.88	8.19	8.84	9.57	11.1	12.03	10.22	10.28	10.23	9.56	7.04

Culp, Inc.

CULP US

4.26

4.26