Highwater Ethanol
Financial ratios & Valuation

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
2.378.0873.4211.32-7.02-3.95-4.412.171.584.973.24-7.02
Price/Sales ratio
0.370.370.380.390.450.330.280.180.230.410.290.33
Price/Book Value ratio
0.700.560.540.550.670.580.560.470.671.04N/A0.58
Price/Cash Flow ratio
1.893.606.223.139.5411.05-113.351.331.162.861.4211.05
Price/Free Cash Flow ratio
1.998.8638.145.2619.1326.19-7.971.921.192.991.4726.19
Price/Earnings Growth ratio
0.00-0.10-0.810.010.02-0.110.19-0.000.01-0.100.020.02
Dividend Yield
N/A13.64%5.14%4.23%3.83%N/AN/AN/A34.30%18.30%N/AN/A
Profitability Indicator Ratios
Gross Profit Margin
20.20%7.17%3.42%6.73%-2.92%-3.54%-1.12%9.55%14.41%9.83%9.03%-2.92%
Operating Profit Margin
18.62%4.98%0.70%4.00%-5.97%-6.82%-4.75%7.51%12.61%7.71%7.11%-5.97%
Pretax Profit Margin
15.68%4.58%0.52%3.51%-6.48%-8.48%-6.50%8.65%15.05%8.40%9.24%-6.48%
Net Profit Margin
15.68%4.58%0.52%3.51%-6.48%-8.48%-6.50%8.65%15.05%8.40%9.24%-6.48%
Effective Tax Rate
-3.60%12.44%107.98%5.98%-3.64%-3.73%-10.79%6.65%0.84%N/AN/A-3.64%
Return on Assets
20.89%5.14%0.56%4.05%-7.74%-11.17%-8.63%15.91%32.93%16.56%25.52%-7.74%
Return On Equity
29.87%6.95%0.73%4.87%-9.57%-14.77%-12.84%21.73%42.56%21.00%N/A-9.57%
Return on Capital Employed
26.63%6.01%0.82%5.00%-7.92%-10.52%-7.63%18.35%35.20%19.08%22.69%-7.92%
Liquidity Ratios
Current Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A3.07N/A
Quick Ratio
2.801.840.950.670.340.480.390.771.622.241.590.34
Cash ratio
2.151.330.290.110.050.150.050.351.362.011.310.05
Days of Sales Outstanding
11.509.8515.2710.335.0511.0814.1617.915.463.325.0511.08
Days of Inventory outstanding
14.0818.2126.5828.8130.1326.6339.3737.4936.9932.7626.5126.63
Operating Cycle
25.5928.0741.8539.1535.1937.7253.5355.4142.4636.0927.7637.72
Days of Payables Outstanding
6.215.6211.0110.7915.5024.9731.7642.6938.6738.1516.8615.50
Cash Conversion Cycle
19.3722.4430.8328.3519.6912.7421.7712.713.78-2.05-5.2612.74
Debt Ratios
Debt Ratio
0.270.230.180.120.120.130.170.040.00N/A0.140.12
Debt Equity Ratio
0.390.310.240.140.150.170.260.050.00N/AN/A0.17
Long-term Debt to Capitalization
0.240.200.160.090.100.110.160.00N/AN/AN/A0.11
Total Debt to Capitalization
0.280.240.190.120.130.150.200.050.00N/AN/A0.15
Interest Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A34.57N/A
Cash Flow to Debt Ratio
0.950.490.361.190.450.29-0.015.96160.89N/A36.100.45
Company Equity Multiplier
1.421.351.291.201.231.321.481.361.291.26N/A1.32
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.190.100.060.120.040.03-0.000.140.200.140.210.04
Free Cash Flow / Operating Cash Flow Ratio
0.940.400.160.590.490.4214.210.690.970.950.960.49
Cash Flow Coverage Ratio
0.950.490.361.190.450.29-0.015.96160.89N/A36.100.45
Short Term Coverage Ratio
6.372.611.864.681.671.08-0.086.87160.89N/A155.671.67
Dividend Payout Ratio
N/A110.26%377.75%47.95%-26.96%N/AN/AN/A54.40%91.04%N/A-26.96%