Ariel Appreciation Fund
Financial ratios & Valuation

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
18.64-16.6015.9911.43-115.16-53.604.073.06-4.054.094.38-115.16
Price/Sales ratio
125.97119.15105.5586.0577.4475.2384.7299.9357.9754.84192.9677.44
Price/Book Value ratio
2.613.052.472.042.132.051.371.241.341.001.082.05
Price/Cash Flow ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Price/Free Cash Flow ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Price/Earnings Growth ratio
0.320.08-0.080.281.04-0.62-0.000.030.02-0.020.340.34
Dividend Yield
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0.74%N/A
Profitability Indicator Ratios
Gross Profit Margin
100%100%100%100%100%100%100%100%100%100%100%100%
Operating Profit Margin
18.04%16.41%24.14%35.63%35.34%38.14%11.99%7.60%47.20%56.87%56.87%35.34%
Pretax Profit Margin
675.58%-717.64%659.97%752.31%-67.24%-140.34%2079.58%3255.89%-1429.27%1338.82%1338.82%-67.24%
Net Profit Margin
675.58%-717.64%659.97%752.31%-67.24%-140.34%2079.58%3255.89%-1429.27%1338.82%1338.82%-67.24%
Effective Tax Rate
97.32%102.28%96.34%95.26%152.56%127.18%99.42%99.76%103.30%95.75%95.75%127.18%
Return on Assets
13.91%-18.17%15.28%17.75%-1.83%-3.65%33.50%39.12%-32.99%24.31%24.31%-1.83%
Return On Equity
14.00%-18.37%15.49%17.84%-1.85%-3.82%33.73%40.52%-33.21%24.61%27.99%-1.85%
Return on Capital Employed
0.37%0.41%0.56%0.84%0.97%1.03%0.19%0.09%1.09%1.04%1.04%0.97%
Liquidity Ratios
Current Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A11.65N/A
Quick Ratio
3.935.642.488.324.872.8017.622.6229.9811.6511.654.87
Cash ratio
1.694.061.187.283.252.4116.801.4628.3410.6010.603.25
Days of Sales Outstanding
196.00207.24240.8461.78155.63238.0765.821.13K96.94204.76204.76155.63
Days of Inventory outstanding
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Operating Cycle
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Days of Payables Outstanding
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Cash Conversion Cycle
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Debt Ratios
Debt Ratio
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Debt Equity Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Long-term Debt to Capitalization
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Total Debt to Capitalization
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Interest Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Cash Flow to Debt Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Company Equity Multiplier
1.001.011.011.001.001.041.001.031.001.011.011.00
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Free Cash Flow / Operating Cash Flow Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Cash Flow Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Short Term Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Dividend Payout Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A