EnviroStar Inc

(EVI) February 15, 2010

Figures in Millions except per share values
Company Overview
EnviroStar, Inc., formerly DRYCLEAN USA, Inc., is engaged in supplying commercial and industrial laundry and dry cleaning equipment and steam boilers and related
activities. The Company, through its wholly owned subsidiary, Steiner-Atlantic Corp. (Steiner), sells commercial and industrial laundry and dry cleaning equipment, and
steam boilers in the United States, the Caribbean and Latin American markets. The Company�s business includes distributing commercial and industrial laundry and dry
cleaning machines and steam boilers manufactured by others; selling the Company�s own lines of laundry and dry cleaning machines under its Aero-Tech, Multi-Jet and
Green-Jet brand names; designing and planning turn-key laundry and/or dry cleaning systems to meet the layout, volume and budget needs of a variety of institutional and
retail customers; supplying replacement equipment and parts to its customers; and selling process steam systems and boilers.

Valuation
Current Price $ 1.14 Margin of Safety 5 Year Historical Price vs Intrinsic Value
3.5
NCAV $ 0.91 -20%

Total Net Reprod. Cost $ 0.92 -19% 3

Earnings Power Value (EPV) $ 3.00 163%
2.5
Discounted Cash Flow (DCF) $ 1.45 28%

Ben Graham Formula $ 0.46 -60% 2

1.5
Key Statistics Valuation Ratios
Market Cap (millions) $ 8.02 P/E (TTM) 32.3 1
52-Week High $ 1.27 P/S (TTM) 0.4 0.5
52-Week Low $ 0.70 P/B (MRQ) 1.1
% off 52-Week Low 63% P/Tang. BV (MRQ) 1.2 0
FCF/EV (TTM) 3.8% 6/2/2003 6/2/2005 6/2/2007 6/2/2009
Cash Flows P/FCF (TTM) 5.1 Historical Price Intrinsic Value Buy Price
Owner Earnings FCF EV/Sales (TTM) 0.5
Owner Earnings FCF Avg Grwth -3.8% EV/FCF (TTM) 26.1
FCF
FCF Avg Grwth 0.0% Margins & Profitability Balance Sheet
Gross Cash and Equiv $ 5.80
Effectiveness Gross Margin Short-Term Investments $ -
CROIC Operating Accts Rec $ 0.80
CROIC Avg 10.5% Operating Margin Inventory $ 3.10
FCF/S Net Profit Total Current Assets $ 10.00
FCF/S Avg 3.9% Net Margin Net PP&E $ 0.20
ROA Intangibles $ 0.10
ROA Avg 9.4% Financial Strength (MRQ) Total Assets $ 10.36
ROE Quick Ratio 2.1
ROE Avg 12.5% Current Ratio 3.0 Total Current Liabilities $ 3.40
LT Debt to Equity 0.0 Long-Term Debt $ -
Efficiency Total Debt to Equity 0.0 Total Liabilities $ 3.32
Receivable Turnover (TTM) 15.8
Inventory Turnover (TTM) 4.0
Asset Turnover (TTM) 1.9