Rand Capital
Financial ratios & Valuation

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
5.7515.90-16.62-26.85-40.06-8.8253.672.77-38.985.133.64-40.06
Price/Sales ratio
3.166.4719.3719.1616.017.4113.132.105.964.564.667.41
Price/Book Value ratio
0.800.700.610.590.500.370.860.720.590.550.660.50
Price/Cash Flow ratio
-19.31-10.033.09-3.17-5.444.26-64.70-11.13136.22-4.012.42-5.44
Price/Free Cash Flow ratio
-19.15-10.013.09-3.17-5.444.26-64.70-11.13136.22-4.012.42-5.44
Price/Earnings Growth ratio
0.09-0.240.090.650.89-0.02-0.470.000.36-0.000.400.40
Dividend Yield
N/AN/AN/AN/AN/AN/A11.91%10.41%6.23%10.23%27.71%N/A
Profitability Indicator Ratios
Gross Profit Margin
99.71%99.39%-7.50%96.84%96.99%-54.27%79.37%74.82%-43.97%72.25%70.92%-54.27%
Operating Profit Margin
1.03%27.35%-229.60%-38.39%-46.61%-106.49%68.13%75.01%184.09%57.29%112.83%-46.61%
Pretax Profit Margin
84.29%62.31%-172.81%-69.54%-78.13%-106.49%68.13%75.01%-9.68%91.55%112.02%-78.13%
Net Profit Margin
54.99%40.74%-116.55%-71.35%-39.98%-84.03%24.46%75.98%-15.29%88.94%127.97%-39.98%
Effective Tax Rate
34.76%34.61%32.55%-2.60%48.82%21.08%64.09%-1.29%-57.94%2.85%1.29%21.08%
Return on Assets
9.97%3.35%-2.83%-1.77%-0.97%-3.53%1.21%24.06%-1.38%8.05%16.11%-0.97%
Return On Equity
14.03%4.43%-3.68%-2.22%-1.25%-4.26%1.61%26.00%-1.52%10.73%19.68%-1.25%
Return on Capital Employed
0.18%2.25%-5.63%-0.97%-1.14%-4.50%3.61%23.77%16.86%5.26%14.41%-1.14%
Liquidity Ratios
Current Ratio
N/AN/AN/AN/AN/A68.651.82N/AN/AN/A3.40N/A
Quick Ratio
1.80K888.9234.368.1111.3077.455.7321.929.173.353.4077.45
Cash ratio
1.77K678.9133.477.8210.8776.275.6416.132.452.923.0376.27
Days of Sales Outstanding
N/A179.21516.2599.4558.0653.4938.885.2524.0516.3914.8253.49
Days of Inventory outstanding
0.01N/AN/AN/AN/A0.00N/A0.000.00N/AN/A0.00
Operating Cycle
0.01179.21516.2599.4558.0653.4938.885.2524.0516.3914.8253.49
Days of Payables Outstanding
19.00K8.51K524.663.74K4.55K24.992.09K3.602.9326.0813.0324.99
Cash Conversion Cycle
-19.00K-8.33K-8.40-3.64K-4.50K28.50-2.05K1.6521.12-9.691.78-4.50K
Debt Ratios
Debt Ratio
0.170.170.180.190.210.160.17N/A0.040.20N/A0.16
Debt Equity Ratio
0.240.230.230.240.270.200.23N/A0.040.26N/A0.20
Long-term Debt to Capitalization
0.190.190.190.190.210.160.19N/A0.040.21N/A0.16
Total Debt to Capitalization
0.190.190.190.190.210.160.19N/A0.040.21N/A0.16
Interest Coverage Ratio
0.323.28-7.63N/AN/AN/A0.00N/AN/AN/A8.30N/A
Cash Flow to Debt Ratio
-0.16-0.290.82-0.76-0.330.43-0.05N/A0.09-0.51N/A-0.33
Company Equity Multiplier
1.401.321.301.251.281.201.321.081.091.331.131.20
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
-0.16-0.646.25-6.04-2.931.74-0.20-0.180.04-1.131.92-2.93
Free Cash Flow / Operating Cash Flow Ratio
1.001.000.99111111111
Cash Flow Coverage Ratio
-0.16-0.290.82-0.76-0.330.43-0.05N/A0.09-0.51N/A-0.33
Short Term Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Dividend Payout Ratio
N/AN/AN/AN/AN/AN/A639.52%28.92%-242.92%52.59%29.29%N/A