Change Healthcare
Financial ratios & Valuation

Historical Multiples (2018 – 2022)

2018 2019 2020 2021 2022 TTM Median
Valuation Ratios
Price/Earnings ratio
29.11-34.12-1.44-63.17-45.68-146.45-32.31
Price/Sales ratio
N/AN/A6.952.292.02N/A4.62
Price/Book Value ratio
1.501.560.412.172.152.720.99
Price/Cash Flow ratio
N/A520.82-8.8912.0910.1311.511.31
Price/Free Cash Flow ratio
N/A520.82-8.1920.8616.79N/A-4.09
Price/Earnings Growth ratio
N/A0.18-0.000.66-1.22-5.710.33
Dividend Yield
N/AN/AN/AN/AN/A7.27%N/A
Profitability Indicator Ratios
Gross Profit Margin
N/AN/A57.28%50.44%100%100%78.64%
Operating Profit Margin
N/AN/A-361.38%3.23%6.47%6.66%-177.35%
Pretax Profit Margin
N/AN/A-554.31%-4.76%-3.04%-2.14%-278.23%
Net Profit Margin
N/AN/A-481.52%-3.63%-4.44%-3.39%-242.45%
Effective Tax Rate
203.90%26.33%13.13%23.87%-45.85%-58.44%18.50%
Return on Assets
4.43%-4.00%-9.37%-1.10%-1.55%-0.63%-6.68%
Return On Equity
5.18%-4.59%-28.84%-3.45%-4.71%-1.86%-16.71%
Return on Capital Employed
-0.01%-0.08%-7.86%1.10%2.54%1.38%-3.97%
Liquidity Ratios
Current Ratio
N/AN/AN/AN/AN/A1.22N/A
Quick Ratio
10.871.321.061.210.871.19
Cash ratio
N/A0.530.380.100.230.100.24
Days of Sales Outstanding
N/AN/A1.37K86.5275.51145.15758.93
Days of Inventory outstanding
N/AN/AN/AN/AN/AN/AN/A
Operating Cycle
N/AN/A1.37K86.52N/AN/A729.61
Days of Payables Outstanding
N/AN/A295.9713.69N/AN/A154.83
Cash Conversion Cycle
N/AN/A1.07K72.83N/AN/A574.78
Debt Ratios
Debt Ratio
N/AN/A0.490.480.460.650.57
Debt Equity Ratio
N/AN/A1.511.491.421.381.50
Long-term Debt to Capitalization
N/AN/A0.580.590.580.570.59
Total Debt to Capitalization
N/AN/A0.600.590.580.580.60
Interest Coverage Ratio
N/AN/AN/AN/AN/A1.05N/A
Cash Flow to Debt Ratio
N/AN/A-0.030.120.140.170.07
Company Equity Multiplier
1.161.143.073.103.032.923.09
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
N/AN/A-0.780.180.200.43-0.17
Free Cash Flow / Operating Cash Flow Ratio
N/A11.080.570.600.540.83
Cash Flow Coverage Ratio
N/AN/A-0.030.120.140.170.07
Short Term Coverage Ratio
N/AN/A-0.5510.1121.9631.5415.49
Dividend Payout Ratio
N/AN/AN/AN/AN/AN/AN/A