Conn's Inc

(CONN) February 10, 2010

Figures in Millions except per share values
Company Overview
Conn�s Inc. is a specialty retailer of home appliances and consumer electronics. The Company sells home appliances including refrigerators, freezers, washers, dryers,
dishwashers and ranges, and a variety of consumer electronics including liquid crystal display (LCD), plasma and digital light processing (DLP) televisions, camcorders,
digital cameras, computers and computer accessories, Blu-ray and digital versatile disc (DVD) players, video game equipment, portable audio, Moving Picture Expert
Group layer-three (MP3 players), global positioning system (GPS) devices and home theater products. The Company currently operate 75 retail and clearance stores
located in Texas, Louisiana and Oklahoma.

Valuation
Current Price 5 Year Historical Price vs Intrinsic Value
$ 4.61 Margin of Safety 50
NCAV $ 6.94 51%
45
Total Net Reprod. Cost $ 26.01 464%
40
Earnings Power Value (EPV) $ 18.32 297%
35
Discounted Cash Flow (DCF) $ 18.49 301%
30
Ben Graham Formula $ 13.07 184%
25
20
Key Statistics Valuation Ratios 15
Market Cap (millions) $ 103.55 P/E (TTM) 7.3
10
52-Week High $ 17.67 P/S (TTM) 0.1
5
52-Week Low $ 4.42 P/B (MRQ) 0.3
% off 52-Week Low 4% P/Tang. BV (MRQ) 0.3 0
FCF/EV (TTM) 10.8% 2/8/2010
1/20/2009
12/31/2007
12/11/2006
11/21/2005
11/1/2004
Cash Flows P/FCF (TTM) 0.0 Historical Price Intrinsic Value Buy Price
Owner Earnings FCF EV/Sales (TTM) 0.2
Owner Earnings FCF Avg Grwth 13.0% EV/FCF (TTM) 9.3
FCF
FCF Avg Grwth 0.0% Margins & Profitability Balance Sheet
Gross Cash and Equiv $ 10.60
Effectiveness Gross Margin Short-Term Investments $ 149.40
CROIC Operating Accts Rec $ 156.20
CROIC Avg 7.0% Operating Margin Inventory $ 71.70
FCF/S Net Profit Total Current Assets $ 271.10
FCF/S Avg 4.2% Net Margin Net PP&E $ 61.60
ROA Intangibles $ -
ROA Avg 11.0% Financial Strength (MRQ) Total Assets $ 419.80
ROE Quick Ratio 3.5
ROE Avg 15.7% Current Ratio 4.2 Total Current Liabilities $ 84.50
LT Debt to Equity 37.3 Long-Term Debt $ 125.30
Efficiency Total Debt to Equity 37.3 Total Liabilities $ 231.95
Receivable Turnover (TTM) 7.5
Inventory Turnover (TTM) 6.7
Asset Turnover (TTM) 1.7