Mexco Energy Corporation (MXC) · 28+ 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 (%)	22.86	6.74	2.49	5.06	-2.67	4.52	-5.13	-88.68	-32.29	-19.57	-0.88	-7	10.69	95.46	68.88
Return on Assets (%)	8.45	2.81	1.04	2.03	-1.02	1.68	-1.73	-20.98	-4.76	-2.78	-0.13	-1.02	1.49	23.68	29.98
Return on Capital (%)	17.23	- -	- -	- -	- -	3.89	- -	- -	- -	- -	- -	- -	8.49	79.04	68.03
Return on Invested Capital (%)	10.48	- -	- -	- -	- -	2.9	- -	- -	- -	- -	- -	- -	1.65	25.77	31.9
Gross Margin (%)	75.73	67.52	34.41	40.67	29.52	41.04	21.43	-12.18	18.59	27.89	35.28	35.42	36.47	60.13	62.61
EBITDA Margin (%)	57.35	39.72	38.71	40.95	30.56	40.3	24.23	3.61	25.14	23.96	30.18	28.85	38.05	65.71	69.96
Operating Margin (%)	36.11	5.43	5.57	10.21	-4.98	11.81	-15.97	-61.33	-21.49	-8.58	0.31	-2.33	5.67	45.29	50.56
Incremental Operating Margin (%)	72.82	95.39	0.13	197.72	- -	66.8	- -	- -	- -	- -	-1,310.23	- -	367.78	74.56	62.26
Pretax Margin (%)	34.49	4.42	4.43	9.32	-6.71	7.74	-15.88	-191.62	-27.5	-11.88	-0.48	-3.63	5.57	44.89	50.51
Profit Margin (%)	23.76	12.35	4.92	10.18	-5.7	7.45	-10.06	-164.33	-27.5	-11.88	-0.48	-3.63	5.57	43.34	48.79
Net Income to Common Margin (%)	23.76	12.35	4.92	10.18	-5.7	7.45	-10.06	-164.33	-27.5	-11.88	-0.48	-3.63	5.57	43.34	48.79
Effective Tax Rate (%)	31.1	- -	- -	- -	- -	3.76	- -	- -	- -	- -	- -	- -	- -	3.46	3.41
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	22.86	6.74	2.49	5.06	-2.67	4.52	-5.13	-88.68	-32.29	-19.57	-0.88	-7	10.69	95.46	68.88

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	1	1	2	2	3	2	6	6	3	1	- -	1	1	- -	- -
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	1	1	2	2	3	2	6	6	3	1	- -	1	1	- -	- -
Total Debt/EBITDA	0.5	0.54	1.47	1.28	3.12	1.49	7.24	63.85	4.57	1.08	- -	1.06	1.11	0.03	0.01
Net Debt/EBITDA	0.42	0.42	1.32	0.91	2.94	1.39	7.13	63.46	4.45	0.32	-0.16	0.92	1.03	-0.32	-0.33
Total Debt/EBIT	0.79	3.97	10.22	5.14	-19.12	5.08	-10.99	-3.76	-5.34	-3.01	- -	-13.1	7.42	0.04	0.02
Net Debt/EBIT	0.66	3.06	9.2	3.63	-18.04	4.75	-10.81	-3.73	-5.21	-0.89	-15.37	-11.36	6.91	-0.46	-0.46
EBITDA to Interest Expense	34.47	38.97	33.66	46.01	17.58	24.91	8.28	0.51	4.17	7.24	36.97	20.98	20.01	163.29	510.53
EBITDA-CapEx/Interest Expense	-1.38	11.29	-33.38	-10.94	-6.83	-8.01	-39.99	-6.14	-1.1	-4.96	-0.32	-24.06	-9.96	92.05	104.95
EBIT to Interest Expense	21.7	5.33	4.84	11.47	-2.87	7.3	-5.46	-8.67	-3.57	-2.59	0.38	-1.69	2.98	112.54	368.96
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	39.54	43.89	39.86	40.37	36.34	38.05	30.17	15.17	14.19	14.25	15.56	13.61	14.27	33.4	51.08
Long-Term Debt/Equity (%)	12.81	6.01	14.39	13.1	22.8	18.1	45.05	59.72	33.32	8.33	- -	9.19	13.09	0.62	0.11
Long-Term Debt/Capital (%)	19.62	10.21	22.07	20.26	31.16	26.23	47.88	69.08	61.66	32.08	- -	34.85	42.43	1.66	0.21
Long-Term Debt/Total Assets (%)	9.65	4.99	11.29	10.26	16.45	13.53	27.71	33.89	22.82	6.73	- -	7.63	10.66	0.57	0.11
Total Debt/Equity (%)	12.81	6.01	14.39	13.1	22.8	18.1	45.05	59.72	33.32	8.33	- -	9.97	13.34	1.06	0.45
Total Debt/Capital (%)	19.62	10.21	22.07	20.26	31.16	26.23	47.88	69.08	61.66	32.08	- -	37.83	43.24	2.85	0.82
Total Debt/Total Assets (%)	9.65	4.99	11.29	10.26	16.45	13.53	27.71	33.89	22.82	6.73	- -	8.28	10.87	0.98	0.42
Net Debt to Equity	10.77	4.64	12.96	9.26	21.52	16.93	44.33	59.35	32.48	2.47	-1.52	8.64	12.43	-11.21	-13.28
Net Debt/Capital (%)	17.02	8.06	20.32	15.22	29.93	24.97	47.47	68.95	61.05	12.28	-9.56	33.31	41.18	-42.89	-32.21
EBITDA	3	1	1	1	1	2	1	- -	1	1	1	1	1	4	7
EBITDA-CapEx	- -	- -	-1	- -	- -	-1	-4	-1	- -	- -	- -	-1	-1	2	1
Operating Income (Loss)	2	- -	- -	- -	- -	- -	-1	-1	-1	- -	- -	- -	- -	3	5

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	0.4	0.53	0.9	1.24	0.39	0.51	0.23	0.1	0.54	1.1	0.77	0.19	0.42	5.2	8.66
Current Ratio	1.4	2.59	3.35	2.19	1.72	2.69	1.39	1.07	3.68	3.07	3.38	2.02	5.47	10.36	14.46
Quick Ratio	1.33	2.53	3.03	2.14	1.67	2.6	1.29	0.94	3.41	2.97	3.06	1.75	5.12	10.16	13.98
CFO/Avg Current Liab	4.96	2.71	5.33	5.23	1.96	4.89	3.22	0.46	0.88	1.51	3.3	4.96	4.42	18.62	24.96
Common Equity/Total Assets	39.54	43.89	39.86	40.37	36.34	38.05	30.17	15.17	14.19	14.25	15.56	13.61	14.27	33.4	51.08
Long-Term Debt/Equity (%)	12.81	6.01	14.39	13.1	22.8	18.1	45.05	59.72	33.32	8.33	- -	9.19	13.09	0.62	0.11
Long-Term Debt/Capital (%)	19.62	10.21	22.07	20.26	31.16	26.23	47.88	69.08	61.66	32.08	- -	34.85	42.43	1.66	0.21
Long-Term Debt/Total Assets (%)	9.65	4.99	11.29	10.26	16.45	13.53	27.71	33.89	22.82	6.73	- -	7.63	10.66	0.57	0.11
Total Debt/Equity (%)	12.81	6.01	14.39	13.1	22.8	18.1	45.05	59.72	33.32	8.33	- -	9.97	13.34	1.06	0.45
Total Debt/Capital (%)	19.62	10.21	22.07	20.26	31.16	26.23	47.88	69.08	61.66	32.08	- -	37.83	43.24	2.85	0.82
Total Debt/Total Assets (%)	9.65	4.99	11.29	10.26	16.45	13.53	27.71	33.89	22.82	6.73	- -	8.28	10.87	0.98	0.42
CFO/Total Liabilities	78.03	48.66	38.8	43.77	16.34	40.11	14.24	2.46	5.19	22.06	99.23	50.7	35.37	353.28	659.64
CFO/CapEx	0.95	1.27	0.55	0.96	0.62	0.84	0.25	0.15	0.26	0.4	1.24	0.51	0.45	1.98	1.23
Altman's Z-Score	4.64	4.8	5	3.41	2.08	2.82	1.28	0.38	1.35	2.28	5.43	1.75	5.68	21.94	16.66

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	7.08	5.8	6.15	8.2	6.74	6.73	6.19	6.66	7.5	4.41	4.55	8.63	5.98	6.72	7.12
Days Sales Outstanding	51.54	62.95	59.37	44.51	54.16	54.25	58.97	54.79	48.65	82.8	80.27	42.27	61.06	54.35	51.25
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	4.18	- -	- -	- -	10.11	6.92	7.83	12.84	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	87.24	- -	- -	- -	36.11	52.78	46.63	28.42	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	-35.7	62.95	59.37	44.51	18.05	1.47	12.34	26.37	48.65	82.8	80.27	42.27	61.06	54.35	51.25
Inventory to Cash Days	51.54	62.95	59.37	44.51	54.16	54.25	58.97	54.79	48.65	82.8	80.27	42.27	61.06	54.35	51.25
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
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	20	16	24	16	12	15	12	5	8	6	9	4	18	36	24
- Cash & Cash Equivalents	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	2
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	1	1	2	2	3	2	6	6	3	1	- -	1	1	- -	- -
Enterprise Value	22	16	26	17	15	18	17	10	11	7	8	5	19	34	21
Total Capital	7	7	8	8	9	9	12	8	5	2	1	2	3	5	9
Total Debt/Capital (%)	19.62	10.21	22.07	20.26	31.16	26.23	47.88	69.08	61.66	32.08	- -	37.83	43.24	2.85	0.82
Total Debt / EV	0.06	0.04	0.07	0.1	0.19	0.14	0.34	0.54	0.27	0.11	- -	0.17	0.06	- -	- -
EV/Sales	4.38	5.04	8.24	5.25	4.91	4.33	5.14	4.27	4.22	2.45	3.13	1.78	6.67	5.21	2.25
EV/EBITDA	7.64	12.69	21.29	12.83	16.07	10.75	21.21	118.24	16.81	10.22	10.38	6.18	17.53	7.93	3.21
EV/EBIT	12.14	92.85	148	51.47	- -	36.69	- -	- -	- -	- -	1,008.79	- -	117.64	11.5	4.45
EV/Cash Flow to Firm	7.57	13.03	18.94	10.59	17.63	9.34	14.05	32.04	29.65	12.48	8.14	5.41	24.46	9.1	3.29
EV/Free Cash Flow to Firm	3.73	7.53	6.83	5.24	6.99	4.35	2.89	7.07	9.18	4.08	4.55	1.88	7.92	6.07	1.81
Diluted Market Cap	21	16	24	16	12	15	12	5	8	6	9	4	17	36	24
Diluted Enterprise Value	22	16	25	17	15	18	17	10	11	7	8	5	19	34	22
EV per Share	11.52	8.52	12.84	8.36	7.47	8.59	8.55	5.07	5.24	3.25	4.13	2.39	8.99	15.97	10.06
TTM Sales	5	3	3	3	3	4	3	2	3	3	3	3	3	7	10
TTM EBITDA	3	1	1	1	1	2	1	- -	1	1	1	1	1	4	7
TTM Operating Income	2	- -	- -	- -	- -	- -	-1	-1	-1	- -	- -	- -	- -	3	5
TTM Cash Flow to Firm	3	1	1	2	1	2	1	- -	- -	1	1	1	1	4	7
TTM Free Cash Flow to Firm	6	2	4	3	2	4	6	1	1	2	2	3	2	6	12

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	17.17	38.81	150.64	47.75	- -	50.6	- -	- -	- -	- -	- -	- -	111.14	12.2	5.09
Price/Earnings Average	28.79	51.53	99.09	49.97	-71.2	45.15	-38.72	-1.68	-10.99	-26.82	-729.31	-82.16	70.24	7.66	7.23
Price/Earnings High	71.04	76.59	193.43	78.97	-92.39	62.91	-57.32	-2.82	-15.81	-36.75	-1,310.4	-108.07	132.06	16.23	10
Price/Earnings Low	6.73	35.56	70.06	32.57	-59.25	35.85	-25.76	-0.8	-6.57	-19.39	-400.05	-35.89	27.1	5.09	5.06
Price/Book Value	3.56	2.57	3.85	2.36	1.91	2.24	1.79	1.92	4.35	4.33	5.81	2.98	11.36	8.02	2.6
Price/Book Value Average	5.97	3.41	2.53	2.47	1.93	1.99	2.04	2.67	4.23	5.82	6.42	5.96	7.18	5.03	3.68
Price/Book Value High	14.72	5.07	4.94	3.91	2.5	2.78	3.02	4.48	6.09	7.97	11.54	7.84	13.5	10.66	5.1
Price/Book Value Low	1.4	2.35	1.79	1.61	1.6	1.58	1.36	1.28	2.53	4.21	3.52	2.6	2.77	3.34	2.58
Price/Tangible Book Value	1.87	1.36	1.95	1.22	0.96	1.14	0.88	0.51	0.9	0.76	1.01	0.49	1.99	2.91	1.4
Price/Tangible Book Value Average	3.13	1.8	1.29	1.28	0.97	1.02	1	0.71	0.88	1.03	1.12	0.98	1.26	1.83	1.99
Price/Tangible Book Value High	7.73	2.68	2.51	2.02	1.26	1.41	1.48	1.2	1.26	1.41	2.01	1.29	2.36	3.87	2.76
Price/Tangible Book Value Low	0.73	1.25	0.91	0.83	0.81	0.81	0.66	0.34	0.52	0.74	0.61	0.43	0.48	1.21	1.39
Price/Sales	4.08	4.79	7.42	4.86	4.01	3.77	3.41	1.98	3.11	2.37	3.18	1.49	6.19	5.29	2.49
Price/Sales Average	6.84	6.36	4.88	5.09	4.06	3.36	3.89	2.75	3.02	3.19	3.51	2.98	3.91	3.32	3.53
Price/Sales High	16.88	9.46	9.52	8.04	5.26	4.69	5.77	4.63	4.35	4.37	6.31	3.93	7.36	7.03	4.88
Price/Sales Low	1.6	4.39	3.45	3.32	3.37	2.67	2.59	1.32	1.81	2.3	1.93	1.3	1.51	2.2	2.47
Price/Cash Flow	7.19	13.37	17.56	10	15.21	8.41	9.84	27.28	37.76	14.55	8.44	4.72	24.41	9.3	3.65
Price/Cash Flow Average	12.06	17.76	11.55	10.47	15.38	7.5	11.22	38	36.76	19.55	9.33	9.45	15.42	5.84	5.17
Price/Cash Flow High	29.76	26.39	22.55	16.54	19.95	10.45	16.61	63.84	52.86	26.79	16.76	12.43	29	12.37	7.15
Price/Cash Flow Low	2.82	12.25	8.17	6.82	12.79	5.96	7.46	18.22	21.97	14.13	5.12	4.13	5.95	3.88	3.62
Price/Free Cash Flow	3.67	7.65	6.26	4.92	5.83	3.85	1.94	3.64	7.76	4.18	4.67	1.59	7.56	6.34	2.07
Price/Free Cash Flow Average	6.16	10.16	4.12	5.14	5.89	3.44	2.21	5.07	7.56	5.62	5.16	3.19	4.78	3.98	2.93
Price/Free Cash Flow High	15.2	15.09	8.04	8.13	7.65	4.79	3.28	8.52	10.87	7.7	9.27	4.2	8.98	8.43	4.06
Price/Free Cash Flow Low	1.44	7.01	2.91	3.35	4.9	2.73	1.47	2.43	4.52	4.06	2.83	1.39	1.84	2.64	2.05
EV/Sales	4.38	5.04	8.24	5.25	4.91	4.33	5.14	4.27	4.22	2.45	3.13	1.78	6.67	5.21	2.25
EV/Sales Average	7.19	6.64	5.6	5.48	4.95	3.93	5.62	5.04	4.14	3.26	3.47	3.28	4.36	3.2	3.28
EV/Sales High	17.39	9.78	10.44	8.45	6.16	5.25	7.49	6.92	5.47	4.44	6.27	4.22	7.85	6.99	4.63
EV/Sales Low	1.86	4.63	4.11	3.7	4.27	3.23	4.32	3.61	2.93	2.38	1.88	1.6	1.93	2.06	2.23
EV/EBITDA	7.64	12.69	21.29	12.83	16.07	10.75	21.21	118.24	16.81	10.22	10.38	6.18	17.53	7.93	3.21
EV/EBITDA Average	12.53	16.71	14.46	13.38	16.22	9.74	23.19	139.78	16.48	13.62	11.49	11.36	11.46	4.87	4.69
EV/EBITDA High	30.32	24.63	26.96	20.62	20.17	13.03	30.91	191.66	21.75	18.55	20.78	14.62	20.63	10.64	6.62
EV/EBITDA Low	3.25	11.66	10.61	9.04	13.99	8.02	17.81	100.05	11.64	9.94	6.23	5.53	5.07	3.14	3.19
EV/EBIT	12.14	92.85	148	51.47	- -	36.69	- -	- -	- -	- -	1,008.79	- -	117.64	11.5	4.45
EV/EBIT Average	19.9	122.27	100.5	53.69	-99.44	33.25	-35.19	-8.22	-19.28	-38.02	1,116.46	-140.91	76.94	7.07	6.49
EV/EBIT High	48.14	180.23	187.42	82.75	-123.67	44.46	-46.9	-11.28	-25.44	-51.77	2,018.28	-181.4	138.45	15.44	9.15
EV/EBIT Low	5.16	85.33	73.76	36.27	-85.78	27.38	-27.03	-5.89	-13.62	-27.73	605.48	-68.62	34.01	4.55	4.41
Last Price	10.89	8.24	12.04	7.77	6.1	7.48	5.68	2.35	3.85	3.15	4.19	2	8.45	16.55	11.07
High Price	45.05	16.26	15.46	12.85	8	9.3	9.59	5.5	5.39	5.8	8.32	5.27	10.04	22.01	21.72
Low Price	4.27	7.55	5.6	5.3	5.13	5.3	4.31	1.57	2.24	3.06	2.54	1.75	2.06	6.9	10.99
Enterprise Value	22	16	26	17	15	18	17	10	11	7	8	5	19	34	21
Enterprise Value Average	35	22	18	18	15	16	19	12	10	9	9	9	12	21	31
Enterprise Value High	86	32	33	27	19	21	25	17	14	12	17	12	22	46	44
Enterprise Value Low	9	15	13	12	13	13	15	9	7	6	5	4	5	14	21

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	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2
Diluted Weighted Avg Shares	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2
Basic Weighted Avg Shares	2	2	2	2	2	2	2	2	2	2	2	2	2	2	2
Revenue per Share	2.67	1.72	1.62	1.6	1.52	1.98	1.66	1.19	1.24	1.33	1.32	1.34	1.36	3.13	4.45
EBITDA per Share	1.53	0.68	0.63	0.65	0.46	0.8	0.4	0.04	0.31	0.32	0.4	0.39	0.52	2.06	3.12
Operating Income per Share	0.96	0.09	0.09	0.16	-0.08	0.23	-0.27	-0.73	-0.27	-0.11	- -	-0.03	0.08	1.42	2.25
Basic EPS, GAAP	0.63	0.21	0.08	0.16	-0.09	0.15	-0.17	-1.95	-0.34	-0.16	-0.01	-0.05	0.08	1.36	2.17
Basic EPS from Cont Ops	0.63	0.21	0.08	0.16	-0.09	0.15	-0.17	-1.95	-0.34	-0.16	-0.01	-0.05	0.08	1.36	2.17
Diluted EPS, GAAP	0.61	0.21	0.08	0.16	-0.09	0.15	-0.17	-1.95	-0.34	-0.16	-0.01	-0.05	0.08	1.32	2.11
Diluted EPS from Cont Ops	0.61	0.21	0.08	0.16	-0.09	0.15	-0.17	-1.95	-0.34	-0.16	-0.01	-0.05	0.08	1.32	2.11
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	1.51	0.62	0.69	0.78	0.4	0.89	0.58	0.09	0.1	0.22	0.5	0.42	0.35	1.78	3.04
Free Cash Flow per Basic Share	-0.08	0.13	-0.57	-0.03	-0.24	-0.17	-1.77	-0.47	-0.29	-0.32	0.1	-0.41	-0.43	0.88	0.56
Cash & Equivalents per Share	0.12	0.08	0.09	0.24	0.08	0.08	0.05	0.02	0.04	0.24	0.06	0.02	0.03	0.64	1.05
Book Value per Share	3.06	3.21	3.13	3.29	3.2	3.35	3.18	1.23	0.89	0.73	0.72	0.67	0.74	2.06	4.26
Tangible Book Value per Share	5.83	6.06	6.16	6.37	6.35	6.57	6.48	4.59	4.27	4.12	4.13	4.1	4.25	5.69	7.88

Mexco Energy Corporation

MXC US

10.96

10.96