First Keystone
Financial ratios & Valuation

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
13.3615.5214.6418.5813.0413.9910.169.688.6417.42-6.3513.99
Price/Sales ratio
4.024.204.195.153.794.173.133.292.892.831.204.17
Price/Book Value ratio
1.281.311.261.371.021.110.830.951.000.790.811.11
Price/Cash Flow ratio
19.2913.8411.8013.168.1511.41-61.459.327.3316.409.508.15
Price/Free Cash Flow ratio
21.2914.6212.2016.708.4011.94-52.549.638.2822.7912.218.40
Price/Earnings Growth ratio
-8.33-1.426.00-1.952.201.400.690.42-1.53-0.28-0.061.40
Dividend Yield
4.25%4.23%4.38%3.82%5.15%4.36%5.24%4.65%5.51%6.99%7.91%5.15%
Profitability Indicator Ratios
Gross Profit Margin
100%100%100%100%100%100%100%100%100%100%95.95%100%
Operating Profit Margin
37.85%32.92%34.19%53.37%57.68%33.04%35.01%39.43%60.17%N/A-20.47%33.04%
Pretax Profit Margin
37.85%32.92%34.19%32.38%30.49%33.04%35.01%39.43%38.91%18.29%-18.69%33.04%
Net Profit Margin
30.12%27.10%28.61%27.72%29.04%29.79%30.89%34.05%33.44%16.29%-18.72%29.79%
Effective Tax Rate
20.40%17.68%16.30%14.40%4.74%9.82%11.75%13.64%14.05%10.95%-0.11%9.82%
Return on Assets
1.11%0.93%0.96%0.87%0.91%1.01%1.00%1.11%1.05%0.39%-0.95%1.01%
Return On Equity
9.60%8.45%8.63%7.40%7.88%7.94%8.20%9.88%11.64%4.57%-12.64%7.94%
Return on Capital Employed
1.52%1.23%1.23%1.72%2.15%1.17%1.13%1.28%2.11%N/A-1.15%1.17%
Liquidity Ratios
Current Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A3.08N/A
Quick Ratio
4.905.165.9114.452.157.441.04K2.27K3.022.623.082.15
Cash ratio
0.120.130.150.380.070.2660.31245.350.080.100.170.07
Days of Sales Outstanding
35.6844.0643.1949.5746.5136.2143.2836.9038.2255.6226.2136.21
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/A26.21N/A
Days of Payables Outstanding
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A318.83N/A
Cash Conversion Cycle
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-292.62N/A
Debt Ratios
Debt Ratio
0.130.130.120.060.200.090.050.020.130.190.180.18
Debt Equity Ratio
1.141.191.140.581.760.740.480.231.522.302.441.76
Long-term Debt to Capitalization
0.380.390.400.350.270.290.320.190.290.540.540.27
Total Debt to Capitalization
0.530.540.530.360.630.420.320.190.600.690.700.63
Interest Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A-0.39N/A
Cash Flow to Debt Ratio
0.050.070.090.170.070.13-0.020.430.090.020.030.13
Company Equity Multiplier
8.589.068.978.488.667.828.178.8811.0411.6413.408.66
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.200.300.350.390.460.36-0.050.350.390.170.120.36
Free Cash Flow / Operating Cash Flow Ratio
0.900.940.960.780.960.951.160.960.880.710.780.95
Cash Flow Coverage Ratio
0.050.070.090.170.070.13-0.020.430.090.020.030.13
Short Term Coverage Ratio
0.120.170.233.530.090.30N/AN/A0.120.040.060.30
Dividend Payout Ratio
56.94%65.79%64.29%71.05%67.24%61.08%53.29%45.05%47.70%121.94%-40.26%61.08%