Virginia Tax Free Bond Fund
Financial ratios & Valuation

Historical Multiples (2013 – 2022)

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 TTM Median
Valuation Ratios
Price/Earnings ratio
-14.326.7326.3013.9193.70-25.727.2423.5429.71-3.22-29.06-25.72
Price/Sales ratio
10.8711.6812.0713.0913.4113.4414.5815.2614.9913.57789.9813.41
Price/Book Value ratio
0.730.720.740.740.760.790.770.770.790.87N/A0.79
Price/Cash Flow ratio
6.4327.4417.4212.2833.7114.3028.5222.372.992.94N/A14.30
Price/Free Cash Flow ratio
6.4327.4417.4212.2833.7114.3028.5222.372.992.94N/A14.30
Price/Earnings Growth ratio
0.10-0.02-0.350.15-1.090.05-0.01-0.34-1.540.00-0.02-1.09
Dividend Yield
7.31%7.00%6.95%6.88%5.83%5.05%4.50%3.91%3.94%5.31%N/A5.83%
Profitability Indicator Ratios
Gross Profit Margin
100%100%100%100%100%100%100%100%100%100%100%100%
Operating Profit Margin
80.91%82.10%81.39%79.40%79.47%79.14%78.46%76.46%69.42%75.31%71.01%79.14%
Pretax Profit Margin
-75.23%173.57%45.91%94.10%14.31%-52.27%201.40%64.84%50.47%-420.22%-159.06%-52.27%
Net Profit Margin
-75.88%173.57%45.91%94.10%14.31%-52.27%201.40%64.84%50.47%-420.22%-159.06%-52.27%
Effective Tax Rate
207.55%52.69%-77.26%15.62%-455.12%251.41%61.04%-17.92%-37.53%117.92%144.64%-455.12%
Return on Assets
-3.44%7.30%1.91%3.59%0.54%-1.99%7.15%2.20%1.66%-15.26%N/A-1.99%
Return On Equity
-5.12%10.80%2.81%5.37%0.81%-3.08%10.67%3.29%2.65%-27.10%N/A-3.08%
Return on Capital Employed
3.68%3.50%3.40%3.09%3.04%3.06%2.80%2.62%2.30%2.73%N/A3.06%
Liquidity Ratios
Current Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Quick Ratio
38.862.3823.671.676.512.003.172.593.15208.13N/A2.00
Cash ratio
28.611.4212.430.991.060.730.921.001.95193.90N/A0.73
Days of Sales Outstanding
112.39117.76116.96121.84125.47181.25136.76136.67132.63120.72N/A181.25
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
0.320.300.310.310.320.330.320.320.360.43N/A0.33
Debt Equity Ratio
0.480.450.460.460.480.520.480.480.580.77N/A0.52
Long-term Debt to Capitalization
0.320.310.310.310.320.340.320.320.360.43N/A0.34
Total Debt to Capitalization
0.320.310.310.310.320.340.320.320.360.43N/A0.34
Interest Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Cash Flow to Debt Ratio
0.230.050.090.130.040.100.050.070.450.38N/A0.10
Company Equity Multiplier
1.481.471.461.491.481.541.491.491.601.77N/A1.54
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
1.690.420.691.060.390.940.510.685.014.61N/A0.94
Free Cash Flow / Operating Cash Flow Ratio
1111111111N/A1
Cash Flow Coverage Ratio
0.230.050.090.130.040.100.050.070.450.38N/A0.10
Short Term Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Dividend Payout Ratio
-104.82%47.15%182.93%95.80%546.99%-129.94%32.62%92.18%117.15%-17.15%N/A-129.94%