Amprius Technologies, Inc.

NYSE-AMPX

Trailing Valuation

Trailing Valuation	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20
Stock Price	9.4	2.8	5.3	7.9	—	—
Total Shares Outstanding	130.4	116.9	88.9	84.6	65.8	65.7
Market Cap	1,221	327.4	470.1	671	—	—
Total Enterprise Value (TEV)	1,185.4	310	459.9	604.3	—	—
Buyback Yield	-5.8%	-14.6%	-4.2%	-12.1%	—	—
Shareholder Yield	-5.8%	-14.6%	-4.2%	-12.1%	—	—
P/S	20.9	13.5	51.9	152.2	—	—
P/Gross Profit	27,749	-17.9	-32	-118.7	—	—
P/E	-36	-6.2	-12.3	-33	—	—
Earnings Yield	-2.8%	-16.1%	-8.1%	-3%	—	—
P/OCF	-36.2	-9.8	-18.4	-48.3	—	—
P/FCF	-38	-9	-10.9	-43.7	—	—
FCF Yield	-2.6%	-11.2%	-9.2%	-2.3%	—	—
P/B	11.8	4.7	7.9	9.2	—	—
EV/Sales	20.3	12.8	50.8	137.1	—	—
EV/Gross Profit	26,941.7	-16.9	-31.3	-106.9	—	—
EV/EBITDA	-41	-7.3	-12.5	-36.6	—	—
EV/EBIT	-36	-6.7	-11.9	-33.5	—	—
EV/OCF	-35.2	-9.3	-18	-43.5	—	—
EV/FCF	-36.9	-8.5	-10.7	-39.3	—	—

Margins

Margins	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20
Gross Profit Margin	0.1%	-75.8%	-162.1%	-128.2%	-156.2%	—
Operating Margin	-56.4%	-191.4%	-427.6%	-409.2%	-383.2%	—
EBITDA Margin	-49.5%	-175.7%	-407.6%	-374.3%	-331.2%	—
Net Profit Margin	-56.4%	-184.8%	-399.8%	-393.1%	-383.8%	—
Pre-Tax Profit Margin	-56.4%	-184.8%	-399.8%	-393.1%	-383.8%	—
Free Cash Flow Margin	-55%	-151.3%	-476.1%	-348.4%	-311.1%	—
OCF / Sales	-57.7%	-138%	-282.3%	-314.9%	-289.2%	—
OCF / Net Income	102.4%	74.7%	70.6%	80.1%	75.3%	67.7%
FCF / OCF	95.3%	109.6%	168.7%	110.7%	107.6%	110.4%
FCF / Net Income	97.6%	81.8%	119.1%	88.6%	81.1%	74.7%
FCF / EBITDA	111.2%	86.1%	116.8%	93.1%	93.9%	89.7%

Capital Efficiency

Capital Efficiency	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20
Return on Invested Capital	-46.3%	-86.7%	-123.3%	-241%	-241.3%	-208.6%
Return on Assets	-23.7%	-40.4%	-40.6%	-35.5%	-84.4%	-111.9%
Return on Equity	-38.1%	-69.1%	-54.5%	-39.9%	-141.6%	-637.6%
Return on Total Capital	-87.3%	-126.1%	-200.5%	-1,188.1%	-2,806.6%	-993.2%
Return on Capital Employed	-23.5%	-46.7%	-45.4%	-39.8%	-124.4%	-274.5%
Return on Tangible Assets	-21%	-39%	-37.9%	-34.1%	-84.5%	-111.9%
Receivables Turnover	4.2	7.1	9.3	9.3	9.1	—
Days Sales Outstanding	85.9	51.7	39.3	39.2	40.2	—
Payables Turnover	7.6	7.9	10.9	14.5	5.4	—
Days Payables Outstanding	47.7	46.2	33.6	25.2	67.8	—
Inventory Turnover	10.4	11.6	38.6	20.1	14	—
Days Inventory Outstanding	35.2	31.4	9.5	18.1	26.1	—
Cash Conversion Cycle	73.4	36.8	15.2	32.2	-1.6	—
Asset Turnover	0.4	0.2	0.1	0.1	0.2	—
Fixed Asset Turnover	1.2	0.4	0.3	0.8	0.6	—
Operating Cycle	121.1	83.1	48.8	57.4	66.3	—
CapEx to OCF	0	-0.1	-0.7	-0.1	-0.1	-0.1
CapEx to Revenue	-0	0.1	1.9	0.3	0.2	—
CapEx to Depreciation	-0.4	0.8	9.7	1	0.4	0.4

Financial Health

Financial Health	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20
Total Debt	37.7	37.8	35.6	3	—	0.7
Net Debt	-35.5	-17.4	-10.2	-66.7	-11.5	0.7
Current Ratio	6.6	4	3.8	10.9	3.4	0.3
Quick Ratio	5.9	3.5	3.5	10.2	2.8	0.1
Cash Ratio	4.6	3.2	3.4	10.1	2.8	0
Debt Ratio	0.2	0.3	0.3	0	—	0.1
Assets to Equity	1.5	1.7	1.8	1.1	1.3	5.7
Cash Flow to Debt Ratio	-0.9	-0.9	-0.7	-4.6	—	-6.8
Long-term Debt to Assets	0.2	0.3	0.3	0	—	—
Net Current Asset Value	53.4	17.1	2.6	65	9.5	-4.3
Debt / Equity	0.4	0.5	0.6	0	—	0.6
Total Debt / Capitalization	1	1	1	1	—	1
Long Term Debt / Capitalization	0.9	0.9	1	0.8	—	—
Long-Term Debt / Equity	0.3	0.5	0.6	0	—	—
Net Debt / EBITDA	1.2	0.4	0.3	4	1.3	-0.1
EBIT / Interest Expense	—	—	—	—	—	-1,489.8
EBITDA / Interest Expense	—	—	—	—	—	-1,242.6
(EBITDA - Capex) / Interest Expense	—	—	—	—	—	-1,348

Per Share	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20
Revenue per Share	0.5	0.2	0.1	0.1	0	—
Basic EPS	-0.3	-0.5	-0.4	-0.2	-0.2	-0.1
Diluted EPS	-0.3	-0.5	-0.4	-0.2	-0.2	-0.1
Book Value per Share	0.9	0.7	0.7	1	0.2	0
Tangible Book Value per Share	0.9	0.7	0.7	1	0.2	0
Cash per Share	0.6	0.5	0.5	1	0.2	0
Operating Cash Flow per Share	-0.3	-0.3	-0.3	-0.2	-0.1	-0.1
Free Cash Flow per Share	-0.3	-0.4	-0.5	-0.2	-0.1	-0.1
CapEx per Share	-0	0	0.2	0	0	0
Weighted Avg. Shares Outstanding	119.1	101.9	86.2	71.3	65.8	65.7
Weighted Avg. Shares Outstanding Diluted	119.1	101.9	86.2	71.3	65.8	65.7

Common Size

Common Size	LTM	Dec '24	Dec '23	Dec '22	Dec '21
R&D to Revenue	15.3%	30.4%	40.6%	46%	52.3%
SG&A to Revenue	37.9%	77.5%	224.9%	235%	174.7%
Stock-based Comp to Revenue	13.6%	30.4%	42.9%	61.4%	89.2%