The National Security Group
Financial ratios & Valuation

Historical Multiples (2012 – 2021)

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 TTM Median
Valuation Ratios
Price/Earnings ratio
-3.144.364.428.1514.54-34.0641.969.31-3.1539.9550.3414.54
Price/Sales ratio
0.350.400.520.590.660.620.500.560.400.351.240.66
Price/Book Value ratio
0.690.730.780.850.920.860.710.700.590.531.020.92
Price/Cash Flow ratio
-1.529.282.835.5638.8117.6910.297.05-1.954.4812.4117.69
Price/Free Cash Flow ratio
-1.499.552.915.6842.2718.1710.387.19-1.944.5412.7018.17
Price/Earnings Growth ratio
0.090.020.13-0.21-0.410.24-0.250.020.01-0.370.47-0.41
Dividend Yield
3.82%1.00%0.89%1.04%1.01%1.23%1.54%1.40%2.23%2.61%0.36%1.23%
Profitability Indicator Ratios
Gross Profit Margin
N/AN/A100%100%100%100%100%100%100%100%N/A100%
Operating Profit Margin
-18.57%11.97%14.57%9.90%6.12%0.29%3.54%8.52%-18.96%1.92%-0.60%0.29%
Pretax Profit Margin
-18.57%11.97%14.57%9.90%6.12%-1.69%1.64%6.79%-16.53%1.03%3.23%-1.69%
Net Profit Margin
-11.20%9.25%11.84%7.33%4.57%-1.83%1.20%6.03%-12.93%0.87%2.47%-1.83%
Effective Tax Rate
39.70%22.73%18.76%25.99%25.18%-7.98%26.85%11.20%21.77%14.91%23.44%23.44%
Return on Assets
-19.17%10.37%22.06%13.51%8.84%-3.88%2.53%11.87%-40.16%0.38%0.55%-3.88%
Return On Equity
-22.06%16.90%17.81%10.46%6.37%-2.52%1.69%7.60%-18.99%1.32%1.92%-2.52%
Return on Capital Employed
24.36%-29.22%-19.18%-12.41%-8.09%-0.36%-4.14%-10.93%-62.41%0.84%-0.13%-8.09%
Liquidity Ratios
Current Ratio
0.080.060.070.070.080.070.060.1316.49N/AN/A0.07
Quick Ratio
0.190.190.070.070.080.070.060.1316.4954.16240.110.08
Cash ratio
0.080.060.070.070.080.070.060.1316.4920.0625.880.08
Days of Sales Outstanding
55.1961.3662.1364.3767.5269.0181.1566.6367.6079.26194.8667.52
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
3.031.840.560.520.490.500.460.410.660.080.720.49
Debt Equity Ratio
3.483.000.450.400.350.320.310.260.310.302.700.35
Long-term Debt to Capitalization
0.450.380.300.27N/A0.230.200.200.230.220.230.23
Total Debt to Capitalization
0.460.400.310.280.260.240.230.200.230.230.240.24
Interest Coverage Ratio
-8.644.346.164.603.02N/AN/AN/A-14.63N/A-0.33N/A
Cash Flow to Debt Ratio
-0.510.110.600.370.060.140.220.37-0.970.390.250.06
Company Equity Multiplier
1.151.620.800.770.720.640.670.640.473.463.700.72
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
-0.230.040.180.100.010.030.040.07-0.200.070.100.01
Free Cash Flow / Operating Cash Flow Ratio
1.020.970.970.970.910.970.990.981.000.980.970.91
Cash Flow Coverage Ratio
-0.510.110.600.370.060.140.220.37-0.970.390.250.06
Short Term Coverage Ratio
-10.601.4213.848.020.061.781.4410.74-27.7810.366.670.06
Dividend Payout Ratio
-12.02%4.38%3.93%8.55%14.75%-41.89%64.82%13.05%-7.04%104.46%18.46%14.75%