Horizon Global
Financial ratios & Valuation

Historical Multiples (2013 – 2021)

2013 2014 2015 2016 2017 2018 2019 2020 2021 TTM Median
Valuation Ratios
Price/Earnings ratio
30.0116.0822.56-36.45-72.83-0.17-0.80-5.91-6.52-0.53-54.64
Price/Sales ratio
0.490.400.320.690.380.040.120.330.270.070.21
Price/Book Value ratio
1.491.3193.6613.922.44-0.567.15-11.85-6.41-0.440.94
Price/Cash Flow ratio
21.038.816.9612.7224.53-0.50-1.545.74-5.06-0.8712.01
Price/Free Cash Flow ratio
-224.0514.8910.0721.59-26.46-0.42-1.328.76-3.42-0.62-13.54
Price/Earnings Growth ratio
N/A-0.370.460.141.02-0.000.010.080.41-0.030.51
Dividend Yield
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Profitability Indicator Ratios
Gross Profit Margin
21.25%24.20%24.85%24.69%23.24%16.92%13.93%18.23%18.22%10.89%20.08%
Operating Profit Margin
0.96%3.99%3.40%0.97%3.89%-4.88%-8.39%-1.24%0.92%-7.36%-0.49%
Pretax Profit Margin
1.03%3.36%1.21%-2.52%0.55%-24.85%-17.50%-5.90%-4.25%-13.68%-6.56%
Net Profit Margin
1.66%2.50%1.44%-1.90%-0.53%-24.10%-15.93%-5.66%-4.23%-13.40%-6.96%
Effective Tax Rate
-61.12%25.44%-18.23%22.75%195.78%3.01%8.95%4.04%0.48%1.31%99.39%
Return on Assets
2.68%4.46%2.50%-2.01%-0.72%-39.30%-26.12%-8.21%-7.54%-22.07%-11.39%
Return On Equity
4.98%8.15%415.00%-38.19%-3.36%321.56%-891.49%200.53%98.30%131.44%-20.77%
Return on Capital Employed
2.32%10.94%9.63%1.51%7.68%-13.02%-20.72%-3.01%2.60%-28.14%-2.67%
Liquidity Ratios
Current Ratio
N/AN/A1.641.441.451.571.611.43N/A1.111.51
Quick Ratio
0.590.660.710.700.630.710.650.800.680.350.67
Cash ratio
0.060.040.180.250.140.130.080.240.070.030.13
Days of Sales Outstanding
39.1938.0839.9843.6137.5146.5237.8948.2537.6740.8640.56
Days of Inventory outstanding
99.5397.23100.83109.0291.3389.7883.9377.8492.9394.3792.85
Operating Cycle
138.72135.32140.81152.63128.84136.31121.83126.10130.60104.45132.57
Days of Payables Outstanding
63.8464.5366.2883.2173.8863.6548.1867.1858.3264.7369.30
Cash Conversion Cycle
74.8870.7974.5369.4254.9672.6673.6458.9272.27-0.6063.81
Debt Ratios
Debt Ratio
0.460.000.560.570.410.690.630.660.731.280.49
Debt Equity Ratio
0.850.0094.3710.811.94-5.7221.66-16.26-9.53-4.84-1.88
Long-term Debt to Capitalization
0.000.000.980.900.641.220.951.071.121.680.77
Total Debt to Capitalization
0.000.000.980.910.661.210.951.061.111.440.78
Interest Coverage Ratio
N/AN/A2.460.751.60-1.49-0.99-0.21N/A-2.580.05
Cash Flow to Debt Ratio
7.0836.850.140.100.05-0.19-0.210.12-0.13-0.15-0.05
Company Equity Multiplier
1.851.82165.7918.954.65-8.1834.11-24.42-13.02-3.78-1.76
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.020.040.040.050.01-0.08-0.080.05-0.05-0.08-0.03
Free Cash Flow / Operating Cash Flow Ratio
-0.090.590.690.58-0.921.191.170.651.471.39-0.16
Cash Flow Coverage Ratio
7.0836.850.140.100.05-0.19-0.210.12-0.13-0.15-0.05
Short Term Coverage Ratio
10.7360.892.651.540.84-5.08-4.021.46-2.88-0.640.09
Dividend Payout Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A