10 Year Financial Data of First Federal of Northern Michigan Bancorp, Inc. (FFNM)

4.52 (1y: +30%)

Market Cap	13.12 M	P/E(ttm)
Enterprise Value	37.99 M	P/B	0.53

FFNM- NAS (USA)
First Federal of Northern Michigan Bancorp, Inc.

Currently 1/5

Business Predictability Rank: 1-Star
Back Testing Results:
Average gain of all 1-Star stocks: 1.1% per year.
% of Stocks that are in still loss if held for 10yrs: 45%.
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$4.52

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Annual Rates (per share)	10 yrs*	5 yrs*	12 months*
Revenue Growth (%)	-7.6	3.2	28.9
EBITDA Growth (%)	0	0	0
Free Cash Flow Growth (%)	0	0	57.6
Book Value Growth (%)	-5.9	-5.9	-2.9

*12-month growth rate is calculated with the per share revenue (EBITDA, FCF, earnings) of the last 12 months over the per share revenue (EBITDA, FCF, earnings) over the previous 12 months. 5-year and 10-year growth rates are calculated with least-square regression based on the 5-year and 10-year numbers.

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See this page for the explanation of the data and charts * All numbers are in millions except for per share data

Per Share Data	Annuals											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	TTM	Mar12	Jun12	Sep12	Dec12	Mar13

Revenue per Share ($)	7.44	7.00	4.06	4.21	4.11	2.95	3.44	3.89	3.49	3.42	3.97	0.83	0.80	0.94	0.85	1.38
EBITDA per Share	1.72	0.82	0.52	0.57	-0.49	-1.39	-1.66	0.36	0.49	0.09	0.81	-0.05	-0.10	0.18	0.06	0.67
Free Cashflow per Share	1.39	0.60	1.04	0.57	0.63	0.06	-0.42	1.23	0.70	0.70	0.93	-0.11	0.27	--	0.55	0.11
Earnings per Share ($)	0.73	0.24	0.14	0.15	-0.56	-1.12	-2.34	0.08	0.26	-0.07	-0.26	0.21	-0.09	0.09	-0.28	0.02
Dividends Per Share	0.50	0.38	0.25	0.20	0.20	0.15	--	--	--	--	--	--	--	--	--	--
Book Value per Share	13.26	12.94	11.61	11.48	11.38	10.20	7.99	8.06	8.52	8.47	8.46	8.71	8.69	8.77	8.47	8.46
Month End Stock Price	22.50	13.94	8.75	9.10	7.35	1.25	1.22	2.80	2.86	4.60	4.68	3.90	3.50	3.96	4.60	4.68
Ratios	Annuals											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Latest Q.	Mar12	Jun12	Sep12	Dec12	Mar13

Return on Equity %	5.50	1.90	1.20	1.30	-4.90	-11.00	-29.30	1.00	3.00	-0.90	1.20	9.60	-4.40	4.40	-13.20	1.20
Return on Assets %	0.50	0.20	0.20	0.20	-0.60	-1.30	-2.90	0.10	0.30	-0.10	--	1.20	-0.40	0.40	-1.60	--
Return on Capital - Joel Greenblatt %	24.10	2.50	3.00	20.10	-62.10	-109	-137	5.90	24.00	-8.10	219	-34.00	-52.40	67.20	10.00	219
Debt to Equity	2.15	2.57	1.48	1.86	1.62	1.39	1.95	1.25	1.40	--	1.02	1.30	1.29	0.99	--	1.02

Operating Margin %	14.00	5.20	5.00	4.80	-21.40	-56.20	-56.70	2.10	7.40	-2.20	46.10	-12.00	-17.50	15.10	2.70	46.10
Net Margin %	9.80	3.40	3.40	3.60	-13.60	-38.10	-68.10	2.10	7.40	-2.20	1.70	25.10	-11.70	10.00	-33.60	1.70

Debt to Revenue	3.83	4.75	4.24	5.08	4.49	4.81	4.54	2.59	3.43	--	6.27	13.69	14.02	9.19	--	6.27
Interest Exp. to Revenue %	55.96	60.03	65.25	66.17	66.07	80.30	74.07	71.40	80.80	76.93	44.46	81.35	83.15	70.53	73.90	44.46

Asset Turnover	0.06	0.05	0.05	0.05	0.05	0.03	0.04	0.05	0.05	0.05	0.02	0.01	0.01	0.01	0.01	0.02
Dividend Payout Ratio	0.69	1.56	1.79	1.33	--	--	--	--	--	--	--	--	--	--	--	--
Income Statement	Annuals (USD $) View: $ %											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	TTM	Mar12	Jun12	Sep12	Dec12	Mar13

Net Interest Income	6.90	7.08	8.37	8.60	7.75	6.84	7.35	8.00	8.13	7.59	9.17	1.95	1.93	1.92	1.80	3.53
Non Interest Income	5.43	4.71	4.46	4.40	3.98	1.68	2.58	3.21	1.93	2.28	2.27	0.45	0.39	0.80	0.64	0.44
Revenue	12.32	11.79	12.83	13.00	11.74	8.51	9.93	11.21	10.06	9.87	11.44	2.39	2.32	2.72	2.44	3.97

Selling, General, &Admin. Expense	7.07	6.27	6.51	6.58	6.44	5.30	5.67	5.50	5.28	5.56	5.53	1.43	1.27	1.32	1.62	1.32
Credit Losses Provision	0.27	0.32	0.37	0.85	2.38	4.42	6.20	1.10	0.28	1.37	1.13	0.38	0.58	0.23	0.18	0.14
Other Expenses	2.13	3.82	4.30	3.82	4.32	2.80	2.86	3.57	3.07	2.67	2.45	0.71	0.75	0.65	0.47	0.57
Earnings Before DDA	2.85	1.37	1.65	1.75	-1.40	-4.00	-4.79	1.04	1.43	0.27	2.33	-0.13	-0.29	0.51	0.17	1.93

Depreciation, Depletion and Amortization	1.12	0.77	1.01	1.13	1.12	0.78	0.84	0.80	0.68	0.48	0.43	0.16	0.12	0.10	0.10	0.10

Operating Income	1.73	0.61	0.65	0.62	-2.52	-4.78	-5.63	0.24	0.74	-0.21	1.90	-0.29	-0.41	0.41	0.07	1.83
Net Income	1.21	0.40	0.44	0.46	-1.60	-3.24	-6.76	0.24	0.74	-0.21	-0.75	0.60	-0.27	0.27	-0.82	0.07

Earnings per Share ($)	0.73	0.24	0.14	0.15	-0.56	-1.12	-2.34	0.08	0.26	-0.07	-0.26	0.21	-0.09	0.09	-0.28	0.02
Total Shares Outstanding	1.66	1.68	3.16	3.09	2.86	2.88	2.88	2.88	2.88	2.88	2.88	2.88	2.88	2.88	2.88	2.88
Balance Sheet	Annuals (USD $) View: $ %											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Latest Q.	Mar12	Jun12	Sep12	Dec12	Mar13

Cash and cash equivalents	6.71	4.74	4.78	4.99	3.57	3.47	3.10	1.96	2.75	2.75	1.98	2.41	2.67	3.29	2.75	1.98
Money Market Investments	4.46	4.67	4.77	4.20	5.97	--	--	--	--	--	--	--	--	--	--	--
Net Loan	164	196	201	210	201	192	171	157	141	139	138	140	143	139	139	138
Securities & Investments	34.67	42.03	55.19	44.85	23.45	29.69	37.64	37.82	55.48	53.11	54.25	55.29	54.67	54.88	53.11	54.25
Accounts Receivable	1.07	1.04	1.60	2.14	1.70	1.47	1.23	1.23	1.15	0.97	1.03	1.16	1.10	1.12	0.97	1.03
Property, Plant and Equipment	5.82	6.79	7.39	8.08	7.62	7.09	6.56	6.03	5.85	5.39	5.32	5.80	5.77	5.73	5.39	5.32
Intangible Assets	3.85	3.91	4.44	3.99	3.49	1.19	0.92	0.63	0.34	1.17	1.11	0.26	0.22	0.19	1.17	1.11
Other Assets	2.96	3.14	3.43	3.13	3.70	12.39	12.78	10.92	10.60	11.44	11.46	11.70	10.51	10.32	11.44	11.46
Total Assets	224	263	283	281	251	248	234	216	217	214	213	216	218	215	214	213

Total Deposits	152	182	189	177	164	166	158	155	151	158	158	151	154	159	158	158
Accounts Payable	--	--	--	--	--	--	5.41	6.17	5.59	1.51	1.25	1.26	3.89	4.25	1.51	1.25
Current Portion of Long-Term Debt	8.05	22.36	18.93	--	--	0.77	0.63	--	--	--	--	--	--	--	--	--
Long-Term Debt	39.11	33.64	35.48	66.04	52.68	40.20	44.40	29.00	34.50	--	24.86	32.73	32.45	25.00	--	24.86
Other liabilities	3.11	2.53	2.99	2.41	1.17	11.51	1.92	1.86	1.74	29.54	4.17	5.91	1.82	1.72	29.54	4.17
Total Liabilities	202	241	246	246	218	218	210	192	192	189	188	191	193	190	189	188

Common Stock	1.66	1.66	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03
Retained Earnings	14.66	14.79	14.70	14.58	12.42	8.76	2.00	2.24	2.98	2.77	2.83	3.58	3.31	3.58	2.77	2.83
Additional Paid-In Capital	5.34	5.36	23.56	24.26	24.33	24.31	23.72	23.82	23.85	23.85	23.85	23.85	23.85	23.85	23.85	23.85
Treasury Stock	--	--	--	-1.57	-2.96	-2.96	-2.96	-2.96	-2.96	-2.96	-2.96	-2.96	-2.96	-2.96	-2.96	-2.96
Total Equity	21.95	21.78	36.65	35.45	32.50	29.42	23.05	23.24	24.57	24.44	24.40	25.13	25.07	25.29	24.44	24.40
Cashflow Statement	Annuals (USD $) View: $ %											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	TTM	Mar12	Jun12	Sep12	Dec12	Mar13

Net Income	1.21	0.40	0.44	0.46	-1.60	-3.24	-6.76	0.24	0.74	-0.21	-0.75	0.60	-0.27	0.27	-0.82	0.07
Depreciation, Depletion and Amortization	1.12	0.77	1.01	1.13	1.12	0.78	0.84	0.80	0.68	0.48	0.43	0.16	0.12	0.10	0.10	0.10
Cash Flow from Others	-0.02	-0.15	1.83	0.17	2.29	2.82	4.88	2.51	0.81	1.89	3.08	-1.04	0.98	-0.34	2.30	0.15
Cash Flow from Operations	2.31	1.02	3.28	1.76	1.81	0.36	-1.05	3.55	2.24	2.15	2.75	-0.29	0.83	0.03	1.58	0.31

Investment for Property, Plant & Equipement	--	--	--	--	--	-0.19	-0.17	-0.01	-0.21	-0.12	-0.09	-0.03	-0.05	-0.03	-0.00	--
Cash Flow from Acquisitions	--	-0.30	-0.53	-0.05	--	--	--	--	--	--	--	--	--	--	--	--
Cash Flow from Investing	-3.55	-42.20	-21.86	0.60	26.51	-0.92	8.33	13.22	-1.55	0.70	-0.65	1.08	-2.02	3.65	-2.00	-0.27

Net Issuance of Stock	0.13	0.02	14.66	-1.53	-1.40	--	--	--	--	--	--	--	--	--	--	--
Net Issuance of Debt	-2.61	8.74	-1.95	11.66	-13.40	-11.63	4.06	-15.27	5.50	-8.14	-7.86	-1.78	0.02	-7.75	1.36	-1.50
Cash Flow for Dividends	-0.37	-0.28	-0.54	-0.61	-0.58	-0.43	--	--	--	--	--	--	--	--	--	--
Other Financing	-4.30	30.74	6.45	-11.66	-12.59	10.76	-11.72	-2.63	-5.40	5.29	5.33	0.65	1.44	4.68	-1.47	0.68
Cash Flow from Financing	-7.15	39.22	18.62	-2.15	-27.97	-1.31	-7.66	-17.90	0.10	-2.85	-2.54	-1.13	1.46	-3.07	-0.11	-0.81

Net Change in Cash	-8.39	-1.97	0.04	0.21	0.35	-1.87	-0.37	-1.14	0.79	0.00	-0.43	-0.34	0.26	0.61	-0.53	-0.77

Free Cash Flow	2.31	1.02	3.28	1.76	1.81	0.17	-1.21	3.54	2.03	2.03	2.67	-0.32	0.78	-0.00	1.58	0.31
Valuation Ratios (Daily)	Annuals											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Latest Q.	Mar12	Jun12	Sep12	Dec12	Mar13

PE Ratio(ttm)
Price to Tangible Book
Price-to-Free-Cash-Flow ratio
PS Ratio
EV-to-Revenue
EV-to-EBITDA
EV-to-EBIT
Earnings Yield (Joel Greenblatt)
Forward Rate of Return
Shiller PE Ratio
Valuation and Quality	Annuals											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Latest Q.	Mar12	Jun12	Sep12	Dec12	Mar13

Market Cap
Enterprise Value
Month End Stock Price
Net Cash (per share)
Net Current Asset Value (per share)
DCF (per share)
Median PS (per share)
Graham Number (per share)
Altman Z-Score
Piotroski F-Score

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FFNM Quarterly/Annuals Reports

FFNM: 10-Q - First Federal of Northern Michigan Bancorp, Inc. (0001128227) (Filer): (10-Q) - 2012-11-14
FFNM: 10-Q - First Federal of Northern Michigan Bancorp, Inc. (0001128227) (Filer): (10-Q) - 2012-08-14
FFNM: 10-Q - First Federal of Northern Michigan Bancorp, Inc. (0001128227) (Filer): (10-Q) - 2012-05-15
FFNM: 10-K - First Federal of Northern Michigan Bancorp, Inc. (0001128227) (Filer): (10-K) - 2012-03-29
FFNM: 10-Q - First Federal of Northern Michigan Bancorp, Inc. (0001128227) (Filer): (10-Q) - 2011-08-11

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FFNM Quarterly/Annuals Reports