PrimeEnergy Resources Corporation (PNRG) · 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 (%)	-40.03	6.05	9.77	25.43	16.84	29.23	-12.83	3.63	35.68	10.98	2.72	-1.81	1.64	31.7	14.64
Return on Assets (%)	-9.76	1.29	2.45	7.29	5.21	10.65	-5.21	1.56	18.2	5.79	1.44	-1.08	1.02	21.25	10.49
Return on Capital (%)	- -	4.45	4.34	10.91	6.88	13.03	- -	2.16	- -	8.77	3.09	- -	1.8	27.92	14.46
Return on Invested Capital (%)	- -	2.95	6.95	12.28	8.43	15.4	- -	-10.41	- -	8.75	1.8	- -	1.17	22.23	12.81
Gross Margin (%)	48.8	56.46	19.31	33.28	30.68	37.04	-6.69	-23.78	11.61	26.16	18.85	-3.06	17.34	44.34	33.63
EBITDA Margin (%)	33.87	44.45	45.65	39.39	34.8	46.18	17.69	15.54	41.2	46.64	38.42	19.45	41.13	49.08	45.52
Operating Margin (%)	-25.46	4.1	7.56	20.16	17.32	28.29	-22.2	-37.61	0.81	14.69	3.93	-28.78	4.8	29.09	20.36
Incremental Operating Margin (%)	- -	148.28	35.88	-242.14	-66.61	98.57	- -	- -	67.83	57.74	99.64	- -	144.58	56.32	106.03
Pretax Margin (%)	-37.22	4.67	6.26	17.88	16.2	29.74	-25.03	13.25	44.43	14.94	4.85	-4.93	6.41	43.03	27.79
Profit Margin (%)	-25.2	2.43	3.79	12.45	9.81	18.71	-16.16	6.07	47.02	12.3	3.32	-3.96	2.9	35.5	22.82
Net Income to Common Margin (%)	-25.2	2.43	3.79	12.45	9.81	18.71	-16.16	6.07	47.02	12.3	3.32	-3.96	2.9	35.5	22.82
Effective Tax Rate (%)	- -	18.96	16.04	31.7	33.66	32.2	- -	27.92	- -	16.88	27.97	- -	54.2	17.51	17.88
Dvd Payout Ratio (%)	-7.82	29.54	20.9	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	-43.16	4.26	7.72	25.43	16.84	29.23	-12.83	3.63	35.68	10.98	2.72	-1.81	1.64	31.7	14.64

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	94	93	70	122	122	101	96	69	51	66	54	39	36	11	- -
ST Debt	7	- -	- -	- -	2	3	3	3	2	1	- -	- -	- -	- -	- -
LT Debt	87	93	70	122	120	98	93	66	48	66	54	38	36	11	- -
Total Debt/EBITDA	2.95	1.85	1.2	2.56	2.8	1.52	6.84	7.85	1.38	1.2	1.33	3.41	1.21	0.16	- -
Net Debt/EBITDA	2.58	1.2	1.05	2.38	2.58	1.38	6.14	6.7	1.15	1.09	1.3	3.32	0.86	-0.23	-0.2
Total Debt/EBIT	-3.93	20.07	7.26	5	5.63	2.48	-5.45	-3.24	70.02	3.82	12.98	-2.3	10.35	0.28	- -
Net Debt/EBIT	-3.44	13	6.36	4.65	5.19	2.25	-4.89	-2.77	58.4	3.45	12.73	-2.25	7.38	-0.39	-0.44
EBITDA to Interest Expense	4.32	7.57	15.63	13.32	10.31	16.62	3.86	2.52	15.93	16.14	11.08	5.97	14.85	74.02	104.76
EBITDA-CapEx/Interest Expense	1.87	5.28	4.87	-10.81	2.27	6.97	-0.15	-3.43	-9.77	2.35	6.12	0.44	4.52	56.45	104.76
EBIT to Interest Expense	-3.24	0.7	2.59	6.82	5.13	10.18	-4.84	-6.09	0.31	5.08	1.13	-8.84	1.73	43.88	46.86
Interest Expense	7	7	4	4	4	4	4	4	2	3	4	2	2	1	1
Common Equity/Total Assets	20.28	22.51	27.93	29.26	32.52	40.03	41.22	45.05	56.21	49.37	56.42	63.39	61.25	71.96	71.37
Long-Term Debt/Equity (%)	257.37	281.38	195.23	276.01	225.87	125.85	147.19	100.66	47.31	61.84	51.76	39.05	36.33	7.84	- -
Long-Term Debt/Capital (%)	58.79	62.43	53.6	62.35	57.54	45.58	47.22	38.27	24.64	33.41	28.74	22.95	21.79	5.82	- -
Long-Term Debt/Total Assets (%)	39.98	44.73	37.72	53.49	49.41	37.18	40.92	30.89	19.64	25.7	23.33	19.09	17.07	4.45	- -
Total Debt/Equity (%)	278.09	281.38	195.23	276.01	229.39	129.56	152.05	105.14	49.63	62.49	51.76	39.55	36.33	7.84	- -
Total Debt/Capital (%)	63.52	62.43	53.6	62.35	58.43	46.92	48.78	39.97	25.85	33.77	28.74	23.25	21.79	5.82	- -
Total Debt/Total Assets (%)	43.19	44.73	37.72	53.49	50.18	38.28	42.27	32.27	20.6	25.97	23.33	19.33	17.07	4.45	- -
Net Debt to Equity	243.23	182.27	171	256.54	211.46	117.79	136.55	89.79	41.39	56.54	50.78	38.53	25.89	-11.07	-6.87
Net Debt/Capital (%)	60.37	51.84	50.29	60.62	56.44	44.56	46.1	36.25	22.52	31.57	28.35	22.78	16.57	-9.58	-5.68
EBITDA	32	50	58	48	44	67	14	9	37	55	40	11	30	67	56
EBITDA-CapEx	14	35	18	-39	10	28	-1	-12	-23	8	22	1	9	51	56
Operating Income (Loss)	-24	5	10	24	22	41	-18	-21	1	17	4	-17	3	40	25

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	0.29	0.69	0.16	0.28	0.31	0.24	0.42	0.37	0.18	0.21	0.07	0.07	0.48	0.65	0.17
Current Ratio	0.88	1.21	0.74	1	1.07	1.13	1.03	0.66	0.56	0.78	1.05	0.63	1.17	1.76	0.49
Quick Ratio	0.64	0.96	0.47	0.72	0.89	0.56	0.84	0.64	0.54	0.7	0.99	0.58	1.13	0.95	0.48
CFO/Avg Current Liab	0.7	1.41	0.82	0.94	1.17	1.62	0.69	0.44	1.08	1.01	1.18	1.1	1.6	1.06	2.06
Common Equity/Total Assets	20.28	22.51	27.93	29.26	32.52	40.03	41.22	45.05	56.21	49.37	56.42	63.39	61.25	71.96	71.37
Long-Term Debt/Equity (%)	257.37	281.38	195.23	276.01	225.87	125.85	147.19	100.66	47.31	61.84	51.76	39.05	36.33	7.84	- -
Long-Term Debt/Capital (%)	58.79	62.43	53.6	62.35	57.54	45.58	47.22	38.27	24.64	33.41	28.74	22.95	21.79	5.82	- -
Long-Term Debt/Total Assets (%)	39.98	44.73	37.72	53.49	49.41	37.18	40.92	30.89	19.64	25.7	23.33	19.09	17.07	4.45	- -
Total Debt/Equity (%)	278.09	281.38	195.23	276.01	229.39	129.56	152.05	105.14	49.63	62.49	51.76	39.55	36.33	7.84	- -
Total Debt/Capital (%)	63.52	62.43	53.6	62.35	58.43	46.92	48.78	39.97	25.85	33.77	28.74	23.25	21.79	5.82	- -
Total Debt/Total Assets (%)	43.19	44.73	37.72	53.49	50.18	38.28	42.27	32.27	20.6	25.97	23.33	19.33	17.07	4.45	- -
CFO/Total Liabilities	18.54	35.53	27.69	21.6	18.81	30.09	12.99	7.4	27.79	26.21	21.6	15.98	25.59	31.02	85.42
CFO/CapEx	1.89	4.09	1.03	0.46	1.05	1.45	1.46	0.53	0.68	0.83	1.51	1.56	1.38	2.07	- -
Altman's Z-Score	0.69	1.17	1.39	1.48	1.66	2.18	1.1	1.02	1.52	1.92	2.77	1.4	2.01	3.16	2.46

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	5.85	8.5	8.56	7.93	7.92	9.36	6.9	6.39	7.22	8.59	8.93	5.6	6.58	10.4	7.59
Days Sales Outstanding	62.41	42.92	42.62	46	46.1	38.99	52.9	57.13	50.59	42.47	40.88	65.22	55.48	35.08	48.1
Inventory Turnover	15.03	38.35	292.97	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	24.29	9.52	1.25	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	1.89	1.73	3.23	3.36	5.02	5.92	6.15	5.89	4.33	5.15	10.65	10.16	9.58	8.15	6.08
Accounts Payable Turnover Days	192.79	211.09	113.14	108.58	72.69	61.64	59.33	61.94	84.22	70.92	34.27	35.92	38.08	44.8	60.02
Cash Conversion Cycle	-106.09	-158.65	-69.28	-62.58	-26.59	-22.66	-6.43	-4.81	-33.64	-28.45	6.61	29.3	17.4	-9.72	-11.92
Inventory to Cash Days	38.12	33.4	41.37	46	46.1	38.99	52.9	57.13	50.59	42.47	40.88	65.22	55.48	35.08	48.1
Inventories	2	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	2	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

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	112	54	59	58	123	170	118	124	112	143	306	91	137	164	188
- Cash & Cash Equivalents	12	33	9	9	10	9	10	10	8	6	1	1	10	27	11
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	10	9	9	7	8	9	7	7	7	4	3	1	- -	- -	- -
+ Total Debt	94	93	70	122	122	101	96	69	51	66	54	39	36	11	- -
Enterprise Value	204	124	129	178	243	271	211	191	161	207	362	129	163	148	177
Total Capital	148	149	130	196	209	216	196	173	197	196	186	167	165	189	206
Total Debt/Capital (%)	63.52	62.43	53.6	62.35	58.43	46.92	48.78	39.97	25.85	33.77	28.74	23.25	21.79	5.82	- -
Total Debt / EV	0.46	0.75	0.54	0.69	0.5	0.37	0.45	0.36	0.32	0.32	0.15	0.3	0.22	0.07	- -
EV/Sales	2.17	1.09	1.02	1.47	1.94	1.88	2.66	3.36	1.81	1.75	3.45	2.21	2.25	1.08	1.44
EV/EBITDA	6.4	2.46	2.23	3.74	5.58	4.06	15.05	21.64	4.39	3.76	8.99	11.37	5.47	2.2	3.16
EV/EBIT	- -	26.69	13.46	7.3	11.21	6.63	- -	- -	222.26	11.92	87.84	- -	46.87	3.71	7.06
EV/Cash Flow to Firm	5.24	1.83	2.91	4.22	6.31	4.6	8.92	14.11	3.76	4.94	12.14	7.2	5.52	4.37	1.62
EV/Free Cash Flow to Firm	3.58	1.5	1.53	1.39	3.35	2.78	5.52	5.56	1.58	2.32	7.56	4.54	3.24	2.97	1.62
Diluted Market Cap	112	71	77	77	164	227	118	166	153	199	426	91	189	233	270
Diluted Enterprise Value	204	141	146	198	284	328	211	232	202	263	482	129	215	218	259
EV per Share	67.13	44.19	47.88	70.92	101.68	116.22	91.37	83.61	74.39	101.39	181.12	64.77	81.84	77.83	97.27
TTM Sales	94	113	127	121	125	145	79	57	89	118	105	58	72	137	123
TTM EBITDA	32	50	58	48	44	67	14	9	37	55	40	11	30	67	56
TTM Operating Income	-24	5	10	24	22	41	-18	-21	1	17	4	-17	3	40	25
TTM Cash Flow to Firm	39	68	44	42	39	59	24	14	43	42	30	18	30	34	109
TTM Free Cash Flow to Firm	57	83	84	128	72	98	38	34	102	89	48	28	50	50	109

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	- -	20.64	12.57	4.01	10.21	6.37	- -	36.3	2.72	10.07	89.05	- -	65.48	3.45	6.8
Price/Earnings Average	-4.49	23.78	13.02	4.4	7.57	5.24	-10.58	34.11	2.57	9.57	75.51	-70	49.94	3.2	6.31
Price/Earnings High	-6.14	38.31	16.73	4.88	10.49	6.49	-13.69	41.96	3.11	11.41	105.66	-129.49	66.72	3.95	7.73
Price/Earnings Low	-3.11	18.12	9.6	3.66	4.65	4.13	-8.27	18.32	2.11	6.97	40.99	-37.17	33.23	2.73	5.31
Price/Book Value	2.53	1.16	1.15	0.87	1.55	1.61	1.26	1.29	0.81	1.13	2.37	0.71	1.06	0.92	0.91
Price/Book Value Average	2.4	1.34	1.19	0.95	1.15	1.32	1.45	1.21	0.76	1.08	2.01	1.28	0.81	0.85	0.85
Price/Book Value High	3.29	2.15	1.53	1.05	1.6	1.64	1.87	1.49	0.92	1.29	2.81	2.36	1.08	1.05	1.04
Price/Book Value Low	1.66	1.02	0.88	0.79	0.71	1.04	1.13	0.65	0.63	0.79	1.09	0.68	0.54	0.73	0.71
Price/Tangible Book Value	3.3	1.64	1.66	1.31	2.31	2.18	1.87	1.89	1.09	1.35	2.96	0.92	1.39	1.16	1.17
Price/Tangible Book Value Average	3.14	1.89	1.72	1.44	1.71	1.79	2.14	1.78	1.03	1.28	2.51	1.65	1.06	1.08	1.08
Price/Tangible Book Value High	4.3	3.05	2.21	1.59	2.37	2.22	2.77	2.18	1.25	1.53	3.52	3.06	1.41	1.33	1.33
Price/Tangible Book Value Low	2.17	1.44	1.27	1.19	1.05	1.41	1.67	0.95	0.85	0.93	1.36	0.88	0.7	0.92	0.91
Price/Sales	1.19	0.5	0.48	0.5	1	1.19	1.49	2.2	1.28	1.24	2.95	1.55	1.9	1.23	1.55
Price/Sales Average	1.13	0.58	0.49	0.55	0.74	0.98	1.71	2.07	1.21	1.18	2.5	2.78	1.45	1.14	1.44
Price/Sales High	1.55	0.93	0.63	0.61	1.03	1.21	2.21	2.55	1.46	1.4	3.5	5.13	1.93	1.4	1.77
Price/Sales Low	0.78	0.44	0.36	0.46	0.46	0.77	1.34	1.11	0.99	0.86	1.36	1.47	0.96	0.97	1.21
Price/Cash Flow	3.28	0.91	1.46	1.52	3.51	3.07	5.56	11.36	2.84	3.75	11.38	5.53	4.8	5.07	1.75
Price/Cash Flow Average	3.12	1.05	1.51	1.67	2.6	2.52	6.37	10.67	2.69	3.56	9.65	9.9	3.66	4.7	1.63
Price/Cash Flow High	4.27	1.7	1.95	1.85	3.6	3.13	8.25	13.13	3.25	4.24	13.5	18.31	4.89	5.8	1.99
Price/Cash Flow Low	2.16	0.8	1.12	1.39	1.6	1.99	4.98	5.73	2.21	2.59	5.24	5.26	2.44	4.01	1.37
Price/Free Cash Flow	2.15	0.92	0.94	0.61	2.35	2.4	3.3	5.21	1.54	2.31	9.42	3.37	3.83	4.75	2.47
Price/Free Cash Flow Average	2.04	1.06	0.98	0.67	1.74	1.97	3.78	4.9	1.45	2.2	7.98	6.03	2.92	4.4	2.29
Price/Free Cash Flow High	2.79	1.7	1.25	0.75	2.41	2.44	4.89	6.02	1.76	2.62	11.17	11.15	3.91	5.43	2.81
Price/Free Cash Flow Low	1.41	0.81	0.72	0.56	1.07	1.55	2.96	2.63	1.19	1.6	4.33	3.2	1.95	3.75	1.93
EV/Sales	2.17	1.09	1.02	1.47	1.94	1.88	2.66	3.36	1.81	1.75	3.45	2.21	2.25	1.08	1.44
EV/Sales Average	2.11	1.17	1.03	1.52	1.69	1.67	2.88	3.23	1.74	1.69	3.01	3.44	1.8	0.99	1.33
EV/Sales High	2.52	1.5	1.17	1.58	1.97	1.9	3.38	3.71	1.99	1.91	4	5.79	2.29	1.25	1.65
EV/Sales Low	1.76	1.04	0.91	1.43	1.41	1.46	2.51	2.28	1.53	1.38	1.88	2.13	1.32	0.83	1.1
EV/EBITDA	6.4	2.46	2.23	3.74	5.58	4.06	15.05	21.64	4.39	3.76	8.99	11.37	5.47	2.2	3.16
EV/EBITDA Average	6.22	2.62	2.27	3.86	4.85	3.61	16.28	20.79	4.22	3.62	7.83	17.67	4.38	2.02	2.92
EV/EBITDA High	7.45	3.39	2.57	4	5.66	4.11	19.11	23.84	4.82	4.1	10.41	29.8	5.56	2.55	3.62
EV/EBITDA Low	5.2	2.33	1.99	3.63	4.04	3.16	14.18	14.65	3.7	2.96	4.88	10.98	3.2	1.69	2.42
EV/EBIT	- -	26.69	13.46	7.3	11.21	6.63	- -	- -	222.26	11.92	87.84	- -	46.87	3.71	7.06
EV/EBIT Average	-8.28	28.48	13.68	7.54	9.75	5.89	-12.98	-8.59	214.07	11.51	76.54	-11.94	37.5	3.41	6.52
EV/EBIT High	-9.92	36.73	15.5	7.82	11.37	6.71	-15.23	-9.85	244.49	13.02	101.7	-20.13	47.62	4.3	8.09
EV/EBIT Low	-6.92	25.26	12	7.1	8.12	5.16	-11.3	-6.06	187.73	9.39	47.73	-7.42	27.42	2.85	5.42
Last Price	36.78	19.4	22.01	23	51.42	73	51	54.5	51.56	70.05	153.24	45.4	68.96	86.01	103.35
High Price	47.87	36.01	29.29	28	52.8	74.38	75.65	63	59	79.37	181.82	150.4	70.27	98.32	117.48
Low Price	24.21	17.03	16.81	21	23.4	47.29	45.7	27.5	40	48.5	70.53	43.17	35	68	80.73
Enterprise Value	204	124	129	178	243	271	211	191	161	207	362	129	163	148	177
Enterprise Value Average	198	132	131	184	211	241	228	183	155	200	315	201	130	136	163
Enterprise Value High	237	170	149	191	246	274	267	210	178	226	419	339	166	171	203
Enterprise Value Low	165	117	115	173	176	211	198	129	136	163	197	125	95	114	136

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	3	3	3	3	2	2	2	2	2	2	2	2	2	2	2
Diluted Weighted Avg Shares	3	4	3	3	3	3	2	3	3	3	3	2	3	3	3
Basic Weighted Avg Shares	3	3	3	3	2	2	2	2	2	2	2	2	2	2	2
Revenue per Share	30.93	38.65	46.24	46.1	51.32	61.24	34.2	24.75	40.38	56.53	51.89	29.3	36.37	70.16	66.55
EBITDA per Share	10.47	17.18	21.11	18.16	17.86	28.28	6.05	3.85	16.63	26.37	19.94	5.7	14.96	34.44	30.3
Operating Income per Share	-7.87	1.58	3.5	9.29	8.89	17.32	-7.59	-9.31	0.33	8.31	2.04	-8.43	1.75	20.41	13.55
Basic EPS, GAAP	-7.79	0.94	1.75	5.74	5.04	11.46	-5.53	1.5	18.99	6.96	1.72	-1.16	1.05	24.9	15.19
Basic EPS from Cont Ops	-7.46	1.46	2.43	5.63	5.51	12.35	-5.69	2.36	21.44	7.02	1.81	-1.19	1.07	24.9	15.19
Diluted EPS, GAAP	-7.79	0.75	1.38	4.48	3.86	8.68	-5.53	1.13	14.17	5.11	1.25	-1.16	0.76	17.95	10.77
Diluted EPS from Cont Ops	-7.46	1.17	1.92	4.4	4.22	9.36	-5.69	1.78	16.01	5.16	1.32	-1.19	0.77	17.95	10.77
Dividend per Share	0.56	0.59	0.65	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	11.21	21.24	15.04	15.13	14.65	23.79	9.17	4.8	18.13	18.7	13.47	8.21	14.37	16.95	58.93
Free Cash Flow per Basic Share	5.28	16.05	0.51	-17.76	0.72	7.37	2.88	-4.29	-8.7	-3.83	4.54	2.94	3.96	8.78	58.93
Cash & Equivalents per Share	3.88	11.7	3.21	3.43	3.99	3.95	4.23	4.43	3.89	3.1	0.51	0.5	5.19	13.96	6.08
Book Value per Share	14.55	16.72	19.12	26.57	33.07	45.45	40.46	42.34	63.95	61.73	64.73	63.73	64.85	93.55	113.16
Tangible Book Value per Share	11.14	11.81	13.23	17.6	22.24	33.54	27.29	28.84	47.23	51.96	51.71	49.15	49.74	73.83	88.43

PrimeEnergy Resources Corporation

PNRG US

103.51