SPAR Group
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

2025202620272028
Price/Earnings ratio
9.584.63.832.87
Price/Sales ratio
0.140.080.080.08
Earnings per Share (EPS)
$0.12$0.25$0.3$0.4

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
8.8123.50119.04-27.47-7.144.662.7013.0713.516.03-11.204.66
Price/Sales ratio
0.230.170.150.130.040.100.100.100.110.080.110.04
Price/Book Value ratio
1.531.121.131.290.681.431.091.321.280.831.210.68
Price/Cash Flow ratio
13.734.2815.333.745.404.422.759.94-5.693.45-10.974.42
Price/Free Cash Flow ratio
37.366.32-97.144.7625.905.703.3728.83-4.204.22-6.965.70
Price/Earnings Growth ratio
N/A-0.31-1.580.05-0.10-0.000.05-0.165.770.070.07-0.10
Dividend Yield
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Profitability Indicator Ratios
Gross Profit Margin
24.87%24.53%21.99%20.27%19.32%19.47%19.60%18.58%19.52%21.11%18.80%19.47%
Operating Profit Margin
2.69%2.73%1.63%2.25%1.62%4.03%4.21%1.63%3.18%3.57%1.18%4.03%
Pretax Profit Margin
2.80%2.76%1.63%2.29%1.32%3.72%4.02%1.60%1.87%2.71%1.14%3.72%
Net Profit Margin
2.67%0.74%0.12%-0.50%-0.67%2.30%3.88%0.78%0.81%1.48%-1.01%2.30%
Effective Tax Rate
-27.69%24.86%20.07%71.66%46.11%38.01%3.36%51.31%56.63%33.04%68.78%46.11%
Return on Assets
7.33%2.05%0.30%-1.59%-2.24%7.17%10.66%2.24%2.24%4.32%-2.49%7.17%
Return On Equity
17.42%4.76%0.95%-4.69%-9.51%30.77%40.44%10.12%9.47%13.82%-11.11%30.77%
Return on Capital Employed
11.31%10.83%8.77%15.93%14.02%29.29%23.64%10.77%20.79%22.52%7.14%29.29%
Liquidity Ratios
Current Ratio
2.062.261.321.441.291.381.55N/AN/AN/A1.401.29
Quick Ratio
2.032.221.311.441.291.371.551.431.481.561.261.37
Cash ratio
0.280.430.220.270.160.220.370.260.170.220.180.16
Days of Sales Outstanding
78.5071.0091.4872.3773.4871.1574.2877.3289.0178.6894.5773.48
Days of Inventory outstanding
1.842.141.64N/AN/AN/AN/A0.00N/AN/AN/AN/A
Operating Cycle
80.3573.1493.1272.3773.4871.1574.2877.3289.0178.6823.3171.15
Days of Payables Outstanding
15.9712.0919.3918.5317.1116.4615.4715.6718.3816.7022.1417.11
Cash Conversion Cycle
64.3861.0473.7353.8456.3754.6958.8061.6470.6361.9772.4356.37
Debt Ratios
Debt Ratio
0.140.140.170.110.170.120.120.130.200.230.610.17
Debt Equity Ratio
0.340.330.540.350.740.530.460.590.860.742.680.74
Long-term Debt to Capitalization
0.230.230.000.000.090.060.040.030.050.010.100.09
Total Debt to Capitalization
0.250.240.350.260.420.350.310.370.460.420.480.42
Interest Coverage Ratio
20.8115.2516.5512.133.409.7414.08N/AN/AN/A3.903.40
Cash Flow to Debt Ratio
0.320.780.130.970.160.600.850.22-0.260.32-0.110.60
Company Equity Multiplier
2.372.323.162.954.234.293.794.504.213.194.344.23
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.010.040.000.030.000.020.030.01-0.010.02-0.010.02
Free Cash Flow / Operating Cash Flow Ratio
0.360.67-0.150.780.200.770.810.341.350.811.570.20
Cash Flow Coverage Ratio
0.320.780.130.970.160.600.850.22-0.260.32-0.110.60
Short Term Coverage Ratio
3.1810.270.130.990.190.680.940.23-0.280.32-0.130.68
Dividend Payout Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A