This report should not be construed as providing investment advice. It is for educational purposes only.  Before making any investment decision, you should always do your own research or consult a investment professional. Estimates Estimates Estimates
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet. Q1 2024 <-Estimates https://www.annualreports.com/Company/altagas-ltd
See my website on stocks or see my blog at the following sites.  https://spbrunner.com/stocks.html https://spbrunner.blogspot.com/ 3/31/24 <-Estimates
AltaGas Ltd TSX:  ALA OTC: ATGFF https://www.altagas.ca/ Fiscal Yr: Dec 31
Year 12/31/11 12/31/12 12/31/13 12/31/14 12/31/15 12/31/16 12/31/17 12/31/18 12/31/19 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 12/31/25 12/31/26 Value Description #Y Item Total G
Accoumting Rules C. GAAP US GAAP US GAAP US GAAP US GAAP US GAAP US GAAP US GAAP US GAAP US GAAP US GAAP US GAAP US GAAP US GAAP US GAAP US GAAP Accoumting Rules
Revenue from Utilities $161 $438 $894 $1,077 $1,077 $1,065.8 $1,128 $1,765.6 $2,590.8 $3,817 $3,936 $3,936 $4,827 439.69% <-Total Growth 10 Revenue from Utilites
Cost of Sales $79.4 $225.8 $502.5 $651.6 $595.8 $557.1 $610.1 $838.3 $1,117.9 $2,156 $2,273 $2,273 $2,988 494.63% <-Total Growth 10 Cost of Sales
Change 184.34% 122.54% 29.67% -8.56% -6.50% 9.51% 37.40% 33.35% 92.86% 5.43% 0.00% 31.46% 19.59% <-Median-> 10 Change
Ratio 0.07 0.25 0.49 0.55 0.70 0.69 0.61 0.58 0.71 1.32 0.35 0.35 0.37 0.59 <-Median-> 10 Ratio
Revenue from Midstream $1,085.0 $908.0 $1,019.9 $1,178.8 $845.5 $804.1 $1,008.0 $1,435.0 $1,581.2 $1,636 $6,535 $6,533 $8,069 691.16% <-Total Growth 10 Revenue from Midstream
Cost of Sales $747.7 $586.4 $658.1 $789.6 $503.2 $496.1 $647.0 $976.4 $1,057.7 $994 $5,412 $5,412 $7,098 978.56% <-Total Growth 10 Cost of Sales
Change -21.57% 12.23% 19.98% -36.27% -1.41% 30.42% 50.91% 8.33% -6.02% 444.47% 0.00% 31.15% 14.15% <-Median-> 10 Change
Ratio 0.90 0.69 0.53 0.54 0.46 0.49 0.48 0.40 0.33 0.31 0.70 0.49 0.70 0.48 <-Median-> 10 Ratio
Cost of Sales $832.8 $852.3 $1,236.2 $1,450.9 $1,104.9 $1,016.9 $1,357.1 $2,455.3 $3,227.1 $3,178 $7,708 $11,138 $10,112 717.99% <-Total Growth 10 Cost of Sales
Change 2.34% 45.04% 17.37% -23.85% -7.96% 33.45% 80.92% 31.43% -1.52% 142.54% 44.50% -9.21% 24.40% <-Median-> 10 Change
Ratio 0.53 0.59 0.61 0.60 0.50 0.46 0.53 0.58 0.59 0.57 0.73 0.79 0.78 0.58 <-Median-> 10 Ratio
$13,002 <-12 mths 0.04%
Revenue* $1,563.8 $1,450.3 $2,042.9 $2,405.9 $2,192.8 $2,189.7 $2,556.2 $4,256.7 $5,495.0 $5,587 $10,573 $14,087 $12,997 $13,659 $14,481 $15,144 536.19% <-Total Growth 10 Revenue
Increase 15.49% -7.26% 40.87% 17.77% -8.86% -0.14% 16.74% 66.52% 29.09% 1.67% 89.24% 33.24% -7.74% 5.09% 6.02% 4.58% 20.33% <-IRR #YR-> 10 Revenue 536.19%
5 year Running Average $1,486.3 $1,490.7 $1,535.9 $1,763.4 $1,931.1 $2,056.3 $2,277.5 $2,720.3 $3,338.1 $4,016.9 $5,693.6 $7,999.7 $9,747.8 $11,381 $13,159 $14,074 25.01% <-IRR #YR-> 5 Revenue 205.33%
Revenue per Share $17.52 $13.77 $16.70 $17.96 $14.99 $13.12 $14.58 $15.47 $19.69 $19.99 $37.72 $50.04 $44.07 $46.32 $49.10 $51.35 20.30% <-IRR #YR-> 10 5 yr Running Average 534.67%
Increase 6.79% -21.43% 21.33% 7.54% -16.55% -12.48% 11.16% 6.05% 27.31% 1.52% 88.72% 32.64% -11.92% 5.09% 6.02% 4.58% 29.08% <-IRR #YR-> 5 5 yr Running Average 258.34%
5 year Running Average $19.92 $17.75 $16.04 $16.47 $16.19 $15.31 $15.47 $15.22 $15.57 $16.57 $21.49 $28.58 $34.30 $39.63 $45.45 $48.18 10.19% <-IRR #YR-> 10 Revenue per Share 163.85%
P/S (Price/Sales) Med 1.53 2.26 2.21 2.50 2.56 2.40 2.13 1.34 0.87 0.80 0.61 0.53 0.53 0.61 0.00 0.00 23.30% <-IRR #YR-> 5 Revenue per Share 184.95%
P/S (Price/Sales) Close 1.82 2.44 2.44 2.41 2.06 2.58 1.96 0.90 1.00 0.94 0.72 0.47 0.63 0.64 0.60 0.57 7.90% <-IRR #YR-> 10 5 yr Running Average 113.87%
P/S 10 Year Median  1.04 1.08 1.13 1.13 1.35 1.87 2.17 2.17 2.17 2.17 2.17 1.73 1.10 0.84 0.71 0.61 17.64% <-IRR #YR-> 5 5 yr Running Average 125.31%
*Revenue in M CDN $  P/S Med 20 yr  1.13 15 yr  1.34 10 yr  1.10 5 yr  0.61 -42.21% Diff M/C
$4.02 <-12 mths 9.24% Estimates Last 12 months from Qtr
AFFO* Amount $626 $835
Calc per Share $2.81 $3.02
AFFO* per Share $2.38 $2.46 $2.99 $3.20 $2.97 $2.96 $3.68 $2.81 $3.01 $3.14 $3.75 $3.63 $3.68 $3.97 $4.30 23.08% <-Total Growth 10 AFFO
Increase 3.36% 21.54% 7.02% -7.19% -0.34% 24.32% -23.58% 7.03% 4.32% 19.43% -3.20% 1.38% 7.88% 8.31% 10 0 10 Years of Data, EPS P or N 100.00%
AFFO Yield 7.47% 7.33% 7.33% 7.38% 9.61% 8.73% 12.86% 20.23% 15.22% 16.77% 13.73% 15.53% 13.23% 13.47% 14.59% 2.10% <-IRR #YR-> 10 AFFO 23.08%
5 year Running Average $2.80 $2.92 $3.16 $3.12 $3.09 $3.12 $3.28 $3.27 $3.44 $3.63 $3.87 5.53% <-IRR #YR-> 5 AFFO 30.86%
Payout Ratio AFFO 55.88% 56.50% 49.83% 52.19% 62.88% 68.24% 57.27% 77.87% 31.89% 30.57% 26.66% 29.20% 30.43% 29.97% 27.67% 2.61% <-IRR #YR-> 8 5 yr Running Average #DIV/0!
5 year Running Average 55.34% 57.87% 57.94% 63.08% 59.26% 52.80% 44.54% 38.26% 30.12% 29.79% 29.19% 1.95% <-IRR #YR-> 5 5 yr Running Average 10.16%
Price/AFFO Median 11.27 12.63 12.37 14.04 12.91 10.65 8.45 7.34 5.67 5.12 6.17 7.34 6.33 7.15 0.00 7.34 <-Median-> 10 P/AFFO Med
Price/AFFO High 13.50 13.91 13.64 16.53 15.94 11.82 9.48 10.40 6.88 7.19 7.27 8.53 6.83 7.46 0.00 9.01 <-Median-> 10 P/AFFO High
Price/AFFO Low 9.03 11.34 11.10 11.55 9.88 9.47 7.43 4.28 4.47 3.05 5.06 6.15 5.83 6.84 0.00 5.99 <-Median-> 10 P/AFFO Low
Price/AFFO Close 13.38 13.65 13.64 13.54 10.40 11.45 7.78 4.94 6.57 5.96 7.28 6.44 7.56 7.43 6.86 7.42 <-Median-> 10 P/AFFO Close
Trailing P/AFFO Close 14.11 16.57 14.49 9.66 11.41 9.67 3.78 7.03 6.22 8.70 6.23 7.66 8.01 7.43 8.18 <-Median-> 10 Trailing P/AFFO Close
Median Values DPR 10 Yrs 42.04% 5 Yrs   30.43% P/CF 5 Yrs   in order 6.17 7.19 5.06 6.57 20.42% Diff M/C 1.15% Diff M/C 10 DPR 75% to 95% best
Normalized Funds from Op $1,003 $1,198 $1,204 $1,128 Normalized Funds from Op
Distributional. Inccome $2.69 $2.96 $3.47 $3.72 $3.41 $3.52 $3.60 $2.95 $3.23 $3.59 $4.28 $4.28 $4.00 $4.00 <-12 mths 15.27% <-Total Growth 10 FFO
Increase 12.55% 10.04% 17.23% 7.20% -8.33% 3.23% 2.27% -18.06% 9.49% 11.15% 19.22% 0.11% -6.64% 0.00% <-12 mths 10 0 10 Years of Data, EPS P or N 100.00%
FFO Yield 8.45% 8.82% 8.51% 8.58% 11.04% 10.38% 12.58% 21.22% 16.33% 19.18% 15.67% 18.33% 14.38% 13.57% <-12 mths 1.43% <-IRR #YR-> 10 FFO 15.27%
5 year Running Average $2.73 $2.76 $2.82 $3.05 $3.25 $3.42 $3.54 $3.44 $3.34 $3.38 $3.53 $3.67 $3.88 $4.03 <-12 mths 6.28% <-IRR #YR-> 5 FFO 35.59%
Payout Ratio 49.44% 46.96% 42.94% 44.89% 54.77% 57.39% 58.54% 74.24% 29.72% 26.74% 23.35% 24.74% 28.00% 29.75% <-12 mths 3.24% <-IRR #YR-> 10 5 yr Running Average 37.58%
5 year Running Average 68.93% 63.47% 57.06% 49.57% 47.68% 49.40% 51.66% 57.30% 54.73% 48.77% 41.36% 34.10% 26.74% 26.86% <-12 mths 2.42% <-IRR #YR-> 5 5 yr Running Average 12.70%
Price/FFO Median 9.97 10.49 10.66 12.08 11.24 8.95 8.64 7.00 5.29 4.48 5.40 6.22 5.82 7.10 <-12 mths 6.61 <-Median-> 10 P/FFO Med
Price/FFO High 11.95 11.56 11.75 14.22 13.88 9.94 9.69 9.92 6.41 6.29 6.37 7.23 6.29 7.41 <-12 mths 8.46 <-Median-> 10 P/FFO High
Price/FFO Low 7.99 9.43 9.56 9.94 8.60 7.97 7.59 4.08 4.16 2.67 4.44 5.21 5.36 6.79 <-12 mths 5.28 <-Median-> 10 P/FFO Low
Price/FFO Close 11.84 11.34 11.75 11.65 9.06 9.63 7.95 4.71 6.12 5.21 6.38 5.46 6.96 7.37 <-12 mths 6.67 <-Median-> 10 P/FFO Close
Trailing P/FFO Close 13.32 12.48 13.77 12.49 8.31 9.94 8.13 3.86 6.71 5.80 7.61 5.46 6.49 7.37 <-12 mths 7.16 <-Median-> 10 Trailing P/FFO Close
Median Values DPR 10 Yrs 37.31% 5 Yrs   26.74% P/CF 5 Yrs   in order 5.40 6.37 4.44 6.12 36.41% Diff M/C 36.41% Diff M/C 10 DPR 75% to 95% best
* Normalized Funds From Operations
Last 12 months from Qtr $1.93 <-12 mths 2.12% Estimates Last 12 months from Qtr
Normalized Net Income AEPS $90.2 $110.0 $176 $165 $140 $153 $204 $195 $324 $396 $497 $530 $536 204.55% <-Total Growth 10 Normalized Earnings
Return on Equity ROE 7.76% 7.03% 7.99% 5.99% 4.40% 4.26% 6.19% 3.42% 5.46% 6.64% 8.46% 7.71% 7.32% 6.09% <-Median-> 10 Return on Equity ROE
5Yr Median 9.26% 7.76% 7.87% 7.76% 7.03% 5.99% 5.99% 4.40% 4.40% 5.46% 6.19% 6.64% 7.32% 6.09% <-Median-> 10 5Yr Median
Normalized Earnings Basic $1.21 $1.15 $1.51 $1.30 $1.02 $0.98 $1.19 $0.88 $1.17 $1.42 $1.78 $1.89 $1.90 25.83% <-Total Growth 10 AEPS
Normalized Earnings Diluted $1.06 $1.14 $1.47 $1.28 $1.01 $0.97 $1.19 $0.88 $1.17 $1.42 $1.76 $1.87 $1.89 $2.15 $2.35 $2.61 28.34% <-Total Growth 10 AEPS
Increase -20.83% 7.89% 28.94% -12.88% -21.39% -3.75% 22.67% -26.47% 33.39% 21.22% 24.61% 6.04% 1.03% 13.76% 9.30% 11.06% 10 0 10 Years of Data, EPS P or N 100.00%
NEPSYield 3.32% 3.40% 3.61% 2.96% 3.26% 2.86% 4.16% 6.30% 5.90% 7.56% 6.46% 8.00% 6.79% 7.29% 7.97% 8.85% 2.53% <-IRR #YR-> 10 AEPS 28.34%
5 year Running Average $1.65 $1.51 $1.34 $1.26 $1.19 $1.18 $1.19 $1.07 $1.04 $1.12 $1.28 $1.42 $1.62 $1.82 $2.01 $2.17 16.64% <-IRR #YR-> 5 AEPS 115.85%
Payout Ratio 125.64% 121.70% 101.18% 130.16% 185.15% 208.07% 176.97% 250.11% 82.19% 67.81% 56.66% 56.66% 59.26% 55.35% 50.64% 45.59% 1.93% <-IRR #YR-> 10 5 yr Running Average 21.02%
5 year Running Average 113.92% 116.18% 119.99% 119.96% 129.88% 143.56% 154.49% 184.93% 175.39% 146.55% 113.81% 88.14% 63.92% 59.54% 56.29% 52.89% 8.76% <-IRR #YR-> 5 5 yr Running Average 52.16%
Price/NEPS Median 25.33 27.20 25.11 35.02 38.01 32.46 26.12 23.58 14.62 11.35 13.11 14.24 12.33 13.20 0.00 0.00 19.10 <-Median-> 10 P/NEPS Med
Price/NEPS High 30.36 29.97 27.68 41.23 46.93 36.03 29.30 33.41 17.73 15.94 15.45 16.56 13.31 13.78 0.00 0.00 23.51 <-Median-> 10 P/NEPS High
Price/NEPS Low 20.30 24.43 22.53 28.81 29.08 28.88 22.95 13.76 11.52 6.77 10.76 11.93 11.34 12.63 0.00 0.00 12.84 <-Median-> 10 P/NEPS Low
Price/NEPS Close 30.08 29.39 27.68 33.78 30.64 34.92 24.03 15.87 16.94 13.22 15.48 12.50 14.72 13.71 12.54 11.30 16.40 <-Median-> 10 P/NEPS Close
Trailing P/NEPS Close 23.81 31.71 35.70 29.43 24.08 33.61 29.48 11.67 22.59 16.03 19.29 13.25 14.87 15.60 13.71 12.54 20.94 <-Median-> 10 Trailing P/NEPS Close
Median Values DPR 10 Yrs 106.18% 5 Yrs   59.26% P/CF 5 Yrs   in order 13.11 15.94 11.34 14.72 4.61% Diff M/C 19.00% Diff M/C 10 DPR 75% to 95% best
$1.73 <-12 mths -23.32% Estimates Last 12 months from Qtr
Difference Basic and Diluted 1.02% 0.93% 2.56% 1.33% 0.00% 0.00% 0.00% 0.00% 0.36% 0.00% 0.00% 0.70% 0.44% 0.00% <-Median-> 10 Difference Basic and Diluted
EPS Basic $0.98 $1.07 $1.56 $0.75 $0.07 $0.99 $0.18 -$2.25 $2.78 $1.74 $0.82 $1.42 $2.27 45.51% <-Total Growth 10 EPS Basic
EPS Diluted* $0.97 $1.06 $1.52 $0.74 $0.07 $0.99 $0.18 -$2.25 $2.77 $1.74 $0.82 $1.41 $2.26 $2.14 $2.34 $2.49 48.68% <-Total Growth 10 EPS Diluted
Increase -18.49% 9.28% 43.40% -51.32% -90.54% 1314.29% -81.82% -1350.00% -223.11% -37.18% -52.87% 71.95% 60.28% -5.22% 9.15% 6.29% 9 1 10 Years of Data, EPS P or N 90.00%
Earnings Yield 3.0% 3.2% 3.7% 1.7% 0.2% 2.9% 0.6% -16.2% 14.0% 9.3% 3.0% 6.0% 8.1% 7.3% 7.9% 8.4% 4.05% <-IRR #YR-> 10 Earnings per Share 48.68%
5 year Running Average $1.64 $1.47 $1.31 $1.10 $0.87 $0.88 $0.70 -$0.05 $0.35 $0.69 $0.65 $0.90 $1.80 $1.67 $1.79 $2.13 24.61% <-IRR #YR-> 5 Earnings per Share 200.44%
10 year Running Average $1.48 $1.51 $1.58 $1.53 $1.37 $1.26 $1.09 $0.63 $0.72 $0.78 $0.76 $0.80 $0.87 $1.01 $1.24 $1.39 3.26% <-IRR #YR-> 10 5 yr Running Average 37.83%
* Diluted ESP per share  E/P 10 Yrs 2.96% 5Yrs 8.12% #NUM! <-IRR #YR-> 5 5 yr Running Average 3433.33%
Dividend estimates $1.19 $1.25 $1.29 Estimates Dividend estimates
Increase 6.34% 5.21% 3.27% Estimates Increase
Payout Ratio EPS 55.60% 53.59% 52.07% Estimates Payout Ratio EPS
Special Dividends $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.0833 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 <-Median-> 10 Special Dividends
Dividend* $1.3300 $1.3900 $1.4900 $1.6700 $1.8675 $2.0200 $2.1075 $2.1900 $0.9600 $0.9600 $0.9996 $1.0600 $1.1200 $1.1900 $1.1900 $1.1900 -24.83% <-Total Growth 10 Dividends
Increase -20.36% 4.51% 7.19% 12.08% 11.83% 8.17% 4.33% 3.91% -56.16% 0.00% 4.13% 6.04% 5.66% 6.25% 0.00% 0.00% 17 3 22 Years of data, Count P, N 77.27%
Average Increases 5 Year Running -5.26% -6.75% -5.89% -3.85% 3.05% 8.76% 8.72% 8.06% -5.59% -7.95% -8.76% -8.42% -8.07% 4.42% 4.42% 3.59% -4.72% <-Median-> 10 Average Incr 5 Year Running
5 Year Running Average $1.88 $1.75 $1.61 $1.51 $1.55 $1.69 $1.83 $1.97 $1.83 $1.65 $1.46 $1.25 $1.04 $1.08 $1.13 $1.15 -35.54% <-Total Growth 10 5 Year Running Average
Yield H/L Price 4.96% 4.47% 4.03% 3.72% 4.87% 6.41% 6.77% 10.61% 5.62% 5.97% 4.32% 3.98% 4.81% 4.19% 5.25% <-Median-> 10 Yield H/L Price Item
Yield on High  Price 4.14% 4.06% 3.65% 3.16% 3.94% 5.77% 6.04% 7.49% 4.64% 4.25% 3.67% 3.42% 4.45% 4.02% 4.35% <-Median-> 10 Yield on High  Price EPS
Yield on Low Price 6.19% 4.98% 4.49% 4.52% 6.37% 7.20% 7.71% 18.17% 7.14% 10.02% 5.26% 4.75% 5.22% 4.38% 6.75% <-Median-> 10 Yield on Low Price AEPS
Yield on Close Price 4.18% 4.14% 3.65% 3.85% 6.04% 5.96% 7.36% 15.76% 4.85% 5.13% 3.66% 4.53% 4.03% 4.04% 4.04% 4.04% 4.99% <-Median-> 10 Yield on Close Price CFPS
Payout Ratio EPS 137.11% 131.13% 98.03% 225.68% 2667.86% 204.04% 1170.83% -97.33% 34.66% 55.17% 132.06% 75.18% 49.56% 55.56% 50.90% 47.89% 103.62% <-Median-> 10 Payout Ratio EPS FCF 
DPR EPS 5 Yr Running 114.83% 118.67% 123.12% 137.77% 177.69% 192.64% 261.57% -3650.00% 519.60% 240.16% 223.94% 139.26% 57.59% 64.66% 62.91% 54.07% 185.17% <-Median-> 10 DPR EPS 5 Yr Running
Payout Ratio CFPS 56.55% 100.04% 49.74% 48.87% 54.51% 73.90% 67.76% -766.85% 43.53% 34.71% 41.13% 55.37% 29.46% 29.75% 29.17% 27.23% 46.20% <-Median-> 10 Payout Ratio CFPS
DPR CF 5 Yr Running 72.49% 77.92% 70.76% 60.46% 57.05% 60.43% 58.38% 79.47% 81.73% 78.23% 70.00% 67.72% 38.91% 35.81% 34.35% 31.65% 64.09% <-Median-> 10 DPR CF 5 Yr Running
Payout Ratio CFPS WC 54.16% 57.68% 45.74% 47.73% 59.13% 63.17% 68.50% 147.77% 31.63% 27.49% 26.44% 25.10% 32.35% 29.75% 29.17% 27.23% 40.04% <-Median-> 10 Payout Ratio CFPS WC
DPR CF WC 5 Yr Running 71.70% 68.63% 61.88% 54.01% 52.42% 54.36% 56.55% 68.37% 65.56% 57.67% 48.09% 38.29% 28.31% 28.08% 28.41% 28.56% 54.18% <-Median-> 10 DPR CF WC 5 Yr Running
Median 5 Yrs 10 Yr Med 10 Yr Cl 5.25% 4.99% 5 Yr Med 5 Yr Cl 4.81% 4.53% 5 Yr Med Payout 55.17% 41.13% 27.49% -12.55% <-IRR #YR-> 5 Dividends -48.86%
* Dividends per share  10 Yr Med and Cur. -23.05% -19.12% 5 Yr Med and Cur. -16.04% -10.97% Last Div Inc ---> $0.2800 $0.2975 6.25% -2.81% <-IRR #YR-> 10 Dividends -24.83%
Dividends Growth 15 -4.16% <-IRR #YR-> 15 Dividends -47.17%
Dividends Growth 20 5.66% <-IRR #YR-> 20 Dividends
Dividends Growth 25 9.57% <-IRR #YR-> 22 Dividends
Historical Dividends Historical High Div 16.55% Low Div 2.12% 10 Yr High 17.36% 10 Yr Low 3.18% Med Div 5.62% Close Div 5.13% Historical Dividends
High/Ave/Median Values Curr diff Exp. -75.61%     90.41% Exp. -76.75% 26.94% Exp. -28.17% Exp. -21.29% High/Ave/Median 
Future Dividend Yield Div Yd 2.06% earning in 5 Years at IRR of -12.55% Div Inc. -48.86% Future Dividend Yield
Future Dividend Yield Div Yd 1.06% earning in 10 Years at IRR of -12.55% Div Inc. -73.85% Future Dividend Yield
Future Dividend Yield Div Yd 0.54% earning in 15 Years at IRR of -12.55% Div Inc. -86.62% Future Dividend Yield
Future Dividend Paid Div Paid $0.61 earning in 5 Years at IRR of -12.55% Div Inc. -48.86% Future Dividend Paid
Future Dividend Paid Div Paid $0.31 earning in 10 Years at IRR of -12.55% Div Inc. -73.85% Future Dividend Paid
Future Dividend Paid Div Paid $0.16 earning in 15 Years at IRR of -12.55% Div Inc. -86.62% Future Dividend Paid
Dividend Covering Cost Total Div $4.63 over 5 Years at IRR of -12.55% Div Cov. 15.71% Dividend Covering Cost
Dividend Covering Cost Total Div $6.39 over 10 Years at IRR of -12.55% Div Cov. 21.69% Dividend Covering Cost
Dividend Covering Cost Total Div $7.29 over 15 Years at IRR of -12.55% Div Cov. 24.74% Dividend Covering Cost
I am earning GC Div Gr -44.91% 5/22/09 # yrs -> 14 2009 $16.02 Cap Gain 84.02% I am earning GC
I am earning Div org yield 13.48% 12/31/24 Trading Div G Yrly -3.74% Div start $2.16 -13.48% 7.43% I am earning Div
I am earning GC Div Gr -9.85% 6/8/10 # yrs -> 13 2010 $18.13 Cap Gain 62.60% I am earning GC Item
I am earning Div org yield 7.28% 12/31/24 Pension Div G Yrly -0.71% Div start $1.32 -7.28% 6.56% I am earning Div Revenue Growth 
AEPS Growth
I am earning GC Div Gr -13.77% 8/9/12 # yrs -> 11 2012 $30.48 Cap Gain -3.28% I am earning GC Net Income Growth
I am earning Div org yield 4.53% 12/31/24 RRSP Div G Yrly -1.19% Div start $1.38 -4.53% 3.90% I am earning Div Cash Flow Growth
Dividend Growth
Yield if held 5 years 5.05% 5.26% 7.27% 10.58% 9.66% 7.53% 6.78% 5.92% 2.14% 2.50% 3.17% 3.41% 5.42% 6.97% 7.40% 5.15% 5.67% <-Median-> 10 Paid Median Price Stock Price Growth
Yield if held 10 years 20.96% 13.30% 11.95% 8.67% 6.97% 7.66% 7.98% 10.68% 6.08% 4.97% 3.73% 3.41% 3.03% 2.65% 3.10% 3.78% 6.53% <-Median-> 10 Paid Median Price
Yield if held 15 years 20.81% 33.35% 31.84% 20.16% 17.57% 4.98% 3.58% 3.79% 4.01% 5.46% 7.54% 6.15% 4.44% 11.52% <-Median-> 10 Paid Median Price Revenue Growth 
Yield if held 20 years 11.96% 17.14% 15.75% 10.14% 8.99% 6.18% 4.44% 4.51% 11.96% <-Median-> 5 Paid Median Price AEPS Growth
Yield if held 25 years 14.83% 21.25% 18.75% #NUM! <-Median-> 0 Paid Median Price Net Income Growth
Cash Flow Growth
Cost covered if held 5 years 35.72% 33.12% 39.22% 47.85% 40.07% 31.47% 29.47% 26.65% 20.35% 21.49% 23.17% 20.10% 25.10% 31.69% 35.10% 24.86% 25.88% <-Median-> 10 Paid Median Price Dividend Growth
Cost covered if held 10 years 243.93% 158.70% 142.08% 94.36% 65.93% 67.73% 67.78% 87.29% 105.80% 82.67% 58.69% 49.60% 40.67% 32.40% 36.21% 41.42% 67.76% <-Median-> 10 Paid Median Price Stock Price Growth
Cost covered if held 15 years 251.43% 393.66% 376.91% 246.27% 221.14% 141.82% 96.66% 95.42% 91.46% 112.58% 140.10% 111.86% 80.13% 181.48% <-Median-> 10 Paid Median Price
Cost covered if held 20 years 365.39% 540.76% 491.97% 306.08% 262.72% 169.91% 117.72% 117.24% 365.39% <-Median-> 5 Paid Median Price
Cost covered if held 25 years 432.84% 641.52% 582.59% #NUM! <-Median-> 0 Paid Median Price
Yr  Item Tot. Growth
Revenue Growth  $4,257 $5,495 $5,587 $10,573 $14,087 $12,997 $13,002 <-12 mths 0.04% 205.33% <-Total Growth 5 Revenue Growth  205.33%
AEPS Growth $0.88 $1.17 $1.42 $1.76 $1.87 $1.89 $1.93 <-12 mths 2.12% 115.85% <-Total Growth 5 AEPS Growth 115.85%
Net Income Growth -$502 $765 $486 $230 $399 $641 $502 <-12 mths -21.76% 227.77% <-Total Growth 5 Net Income Growth 227.77%
Cash Flow Growth -$79 $616 $773 $738 $539 $1,121 1526.21% <-Total Growth 5 Cash Flow Growth 1526.21%
Dividend Growth $2.19 $0.96 $0.96 $1.00 $1.06 $1.12 $1.19 <-12 mths 6.25% -48.86% <-Total Growth 5 Dividend Growth -48.86%
Stock Price Growth $13.90 $19.78 $18.72 $27.31 $23.38 $27.82 $29.48 <-12 mths 5.97% 100.14% <-Total Growth 5 Stock Price Growth 100.14%
Revenue Growth  $2,043 $2,406 $2,193 $2,190 $2,556 $4,257 $5,495 $5,587 $10,573 $14,087 $12,997 $13,659 <-this year 5.09% 536.19% <-Total Growth 10 Revenue Growth  536.19%
AEPS Growth $1.47 $1.28 $1.01 $0.97 $1.19 $0.88 $1.17 $1.42 $1.76 $1.87 $1.89 $2.15 <-this year 13.76% 28.34% <-Total Growth 10 AEPS Growth 28.34%
Net Income Growth $181 $96 $10 $155 $30 -$502 $765 $486 $230 $399 $641 $642 <-this year 0.12% 253.23% <-Total Growth 10 Net Income Growth 253.23%
Cash Flow Growth $366 $458 $501 $456 $545 -$79 $616 $773 $738 $539 $1,121 $1,180 <-this year 5.23% 206.00% <-Total Growth 10 Cash Flow Growth 206.00%
Dividend Growth $1.49 $1.67 $1.87 $2.02 $2.11 $2.19 $0.96 $0.96 $1.00 $1.06 $1.12 $1.19 <-this year 6.34% -24.83% <-Total Growth 10 Dividend Growth -24.83%
Stock Price Growth $40.77 $43.34 $30.90 $33.90 $28.62 $13.90 $19.78 $18.72 $27.31 $23.38 $27.82 $29.48 <-this year 5.97% -31.76% <-Total Growth 10 Stock Price Growth -31.76%
Dividends on Shares $41.75 $46.69 $50.50 $52.69 $54.75 $24.00 $24.00 $27.07 $26.50 $28.00 $29.75 $29.75 $29.75 $375.95 No of Years 10 Total Divs 12/31/13
Paid  $1,019.25 $1,083.50 $772.50 $847.50 $715.50 $347.50 $494.50 $468.00 $682.75 $584.50 $695.50 $737.00 $737.00 $737.00 $695.50 No of Years 10 Worth $40.77
$1,071.45
Graham Price AEPS $17.62 $19.54 $24.43 $24.36 $22.22 $21.69 $22.45 $20.20 $23.65 $26.07 $28.84 $32.05 $32.49 $34.66 $36.23 $38.18 33.03% <-Total Growth 10 Graham Price AEPS
Price/GP Ratio Med 1.52 1.59 1.51 1.84 1.73 1.45 1.39 1.02 0.72 0.62 0.80 0.83 0.72 0.82 0.93 <-Median-> 10 Price/GP Ratio Med
Price/GP Ratio High 1.82 1.75 1.67 2.17 2.13 1.61 1.55 1.45 0.88 0.87 0.95 0.97 0.77 0.85 1.21 <-Median-> 10 Price/GP Ratio High
Price/GP Ratio Low 1.22 1.43 1.36 1.52 1.32 1.29 1.22 0.60 0.57 0.37 0.66 0.70 0.66 0.78 0.68 <-Median-> 10 Price/GP Ratio Low
Price/GP Ratio Close 1.81 1.72 1.67 1.78 1.39 1.56 1.28 0.69 0.84 0.72 0.95 0.73 0.86 0.85 0.81 0.77 0.90 <-Median-> 10 Price/GP Ratio Close
Prem/Disc Close 80.72% 71.80% 66.92% 77.93% 39.05% 56.28% 27.51% -31.19% -16.35% -28.20% -5.31% -27.05% -14.38% -14.94% -18.64% -22.80% -9.85% <-Median-> 10 Prem/Disc Close
Graham Price EPS $16.87 $18.82 $24.81 $18.50 $5.85 $21.91 $8.73 $9.16 $36.42 $28.90 $19.66 $27.82 $35.53 $34.59 $36.14 $37.26 43.19% <-Total Growth 10 Graham Price EPS
Price/GP Ratio Med 1.59 1.65 1.49 2.43 6.55 1.44 3.57 2.25 0.47 0.56 1.18 0.96 0.66 0.82 1.31 <-Median-> 10 Price/GP Ratio Med 0.66
Price/GP Ratio High 1.91 1.82 1.64 2.86 8.09 1.60 4.00 3.19 0.57 0.78 1.39 1.11 0.71 0.86 1.49 <-Median-> 10 Price/GP Ratio High 0.78
Price/GP Ratio Low 1.27 1.48 1.34 2.00 5.01 1.28 3.13 1.32 0.37 0.33 0.97 0.80 0.60 0.78 1.12 <-Median-> 10 Price/GP Ratio Low 0.60
Price/GP Ratio Close 1.89 1.78 1.64 2.34 5.28 1.55 3.28 1.52 0.54 0.65 1.39 0.84 0.78 0.85 0.82 0.79 1.45 <-Median-> 10 Price/GP Ratio Close
Prem/Disc Close 88.79% 78.33% 64.30% 134.29% 427.84% 54.76% 227.97% 51.76% -45.68% -35.23% 38.89% -15.97% -21.70% -14.78% -18.43% -20.88% 45.33% <-Median-> 10 Prem/Disc Close
Price Close $31.84 $33.57 $40.77 $43.34 $30.90 $33.90 $28.62 $13.90 $19.78 $18.72 $27.31 $23.38 $27.82 $29.48 $29.48 $29.48 -31.76% <-Total Growth 10 Stock Price
Increase 46.73% 5.43% 21.45% 6.30% -28.70% 9.71% -15.58% -51.43% 42.30% -5.36% 45.89% -14.39% 18.99% 5.97% 0.00% 0.00% 32.89 <-Median-> 10 CAPE (10 Yr P/E)
P/E 32.82 31.67 26.82 58.57 441.43 34.24 159.00 -6.18 7.14 10.76 33.30 16.58 12.31 13.76 12.61 11.86 14.89% <-IRR #YR-> 5 Stock Price 100.14%
Trailing P/E 26.76 34.61 38.46 28.51 41.76 484.29 28.91 77.22 -8.79 6.76 15.70 28.51 19.73 13.04 13.76 12.61 -3.75% <-IRR #YR-> 10 Stock Price -31.76%
CAPE (10 Yr P/E) 14.78 15.99 16.92 18.87 21.30 23.72 27.66 47.50 41.20 37.91 38.06 35.12 30.66 25.05 20.35 17.85 20.64% <-IRR #YR-> 5 Price & Dividend 153.19%
Median 10, 5 Yrs D.  per yr 4.36% 5.75% % Tot Ret 710.88% 27.86% T P/E 28.51 15.70 P/E:  24.94 12.31 -44.82% Diff M/C 0.61% <-IRR #YR-> 10 Price & Dividend 8.78%
Price 15 D.  per yr 7.95% % Tot Ret 70.95% CAPE Diff -58.16% 3.26% <-IRR #YR-> 15 Stock Price 61.74%
Price  20 D.  per yr 9.54% % Tot Ret 75.86% 3.03% <-IRR #YR-> 20 Stock Price 81.83%
Price  25 D.  per yr 11.25% % Tot Ret 63.02% 6.60% <-IRR #YR-> 24 Stock Price
Price & Dividend 15 11.21% <-IRR #YR-> 15 Price & Dividend 208.69%
Price & Dividend 20 12.57% <-IRR #YR-> 20 Price & Dividend 298.30%
Price & Dividend 25 17.85% <-IRR #YR-> 24 Price & Dividend
Price H/L Median $26.82 $31.07 $36.98 $44.93 $38.34 $31.51 $31.11 $20.65 $17.08 $16.08 $23.13 $26.65 $23.30 $28.39 -37.00% <-Total Growth 10 Stock Price
Increase 38.69% 15.85% 19.02% 21.51% -14.68% -17.80% -1.27% -33.62% -17.29% -5.88% 43.86% 15.22% -12.57% 21.87% -4.51% <-IRR #YR-> 10 Stock Price -37.00%
P/E 27.64 29.31 24.33 60.72 547.64 31.83 172.83 -9.18 6.17 9.24 28.20 18.90 10.31 13.25 2.44% <-IRR #YR-> 5 Stock Price 12.81%
Trailing P/E 22.53 32.03 34.88 29.56 51.80 450.14 31.42 114.72 -7.59 5.80 13.29 32.49 16.52 12.56 0.45% <-IRR #YR-> 10 Price & Dividend 7.70%
P/E on Running 5 yr Average 16.35 21.08 28.31 40.99 43.96 35.97 44.44 -382.41 48.52 23.43 35.47 29.67 12.94 16.96 7.21% <-IRR #YR-> 5 Price & Dividend 48.51%
P/E on Running 10 yr Average 18.18 20.52 23.37 29.46 28.08 25.05 28.62 32.99 23.59 20.64 30.27 33.35 26.68 28.02 15.60 P/E Ratio Historical Median
Median 10, 5 Yrs D.  per yr 4.97% 4.77% % Tot Ret 1093.32% 66.16% T P/E 30.49 13.29 P/E:  23.55 10.31 Count 24 Years of data
High Months Dec Dec Dec Aug Feb Oct Jan Jan Jul Jul Dec Apr Feb Mar
Price High $32.14 $34.23 $40.77 $52.90 $47.34 $34.98 $34.89 $29.25 $20.71 $22.57 $27.26 $30.98 $25.15 $29.63 -38.31% <-Total Growth 10 Stock Price
Increase 45.10% 6.50% 19.11% 29.75% -10.51% -26.11% -0.26% -16.17% -29.20% 8.98% 20.78% 13.65% -18.82% 17.81% -4.72% <-IRR #YR-> 10 Stock Price -38.31%
P/E 33.13 32.29 26.82 71.49 676.29 35.33 193.83 -13.00 7.48 12.97 33.24 21.97 11.13 13.83 -2.98% <-IRR #YR-> 5 Stock Price -14.02%
Trailing P/E 27.01 35.29 38.46 34.80 63.97 499.71 35.24 162.50 -9.20 8.15 15.67 37.78 17.84 13.11 18.61 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 35.02 15.67 P/E:  27.61 12.97 33.22 P/E Ratio Historical High
Low Months Jan Jun Jan Dec Dec Jan Aug Dec Jan Mar Jan Nov Mar Feb
Price Low $21.49 $27.90 $33.18 $36.96 $29.33 $28.04 $27.33 $12.05 $13.45 $9.58 $18.99 $22.31 $21.44 $27.15 -35.38% <-Total Growth 10 Stock Price
Increase 30.08% 29.83% 18.92% 11.39% -20.64% -4.40% -2.53% -55.91% 11.62% -28.77% 98.23% 17.48% -3.90% 26.63% -4.27% <-IRR #YR-> 10 Stock Price -35.38%
P/E 22.15 26.32 21.83 49.95 419.00 28.32 151.83 -5.36 4.86 5.51 23.16 15.82 9.49 12.68 12.21% <-IRR #YR-> 5 Stock Price 77.93%
Trailing P/E 18.06 28.76 31.30 24.32 39.64 400.57 27.61 66.94 -5.98 3.46 10.91 27.21 15.21 12.01 12.74 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 25.76 10.91 P/E:  19.49 9.49 7.54 P/E Ratio Historical Low
Free Cash Flow Market Screener $776 $1,015 $489 $789 $495 $771 $733 #DIV/0! <-Total Growth 3 Free Cash Flow WSJ
Change 30.80% -51.82% 61.35% -37.24% 55.74% -4.95% 30.80% <-Median-> 3 Change
Free Cash Flow WSJ -$1,069 -$681 -$52 -$67 -$405 100.00% <-Total Growth 4 Free Cash Flow WSJ
Change 36.30% 92.36% -28.85% -504.48% 3.72% <-Median-> 4 Change
Free Cash Flow MS -$248 -$675 -$181 -$91 -$150 -$75 $48 -$1,107 -$718 -$70 -$76 -$419 $178 $495 $771 $733 198.34% <-Total Growth 10 Free Cash Flow CF-CapEx
Change -1133% -172.18% 73.19% 49.72% -64.84% 50.00% 164.00% -2406.25% 35.14% 90.25% -8.57% -451.32% 142.48% 178.20% 55.74% -4.95% #NUM! <-IRR #YR-> 5 Free Cash Flow MS 116.08%
FCF/CF from Op Ratio -1.18 -4.61 -0.49 -0.20 -0.30 -0.16 0.09 14.08 -1.17 -0.09 -0.10 -0.78 0.16 0.42 0.64 0.57 #NUM! <-IRR #YR-> 10 Free Cash Flow MS 198.34%
Dividends paid $111.9 $130.4 $170.7 $210.3 $255 $248 $235 $473 $266 $268 $303 $298 $316 $351 $351 $351 85.12% <-Total Growth 10 Dividends paid
Percentage paid -45.11% -19.32% -94.31% -231.10% -169.87% -330.53% 488.96% -42.72% 0.00% 0.00% 0.00% 0.00% 177.53% 70.87% 45.51% 47.88% $0.00 <-Median-> 10 Percentage paid
5 Year Coverage -65.00% -65.28% -86.53% -249.09% -103.32% -73.73% -77.48% -80.31% -67.26% -131.29% 1419.53% 170.52% 94.79% 5 Year Coverage
Dividend Coverage Ratio -2.22 -5.18 -1.06 -0.43 -0.59 -0.30 0.20 -2.34 -2.70 -0.26 -0.25 -1.41 0.56 1.41 2.20 2.09 -0.37 <-Median-> 10 Dividend Coverage Ratio
5 Year of Coverage -1.54 -1.53 -1.16 -0.40 -0.97 -1.36 -1.29 -1.25 -1.49 -0.76 0.07 0.59 1.05 5 Year of Coverage
Market Cap $2,842 $3,536 $4,986 $5,805 $4,520 $5,658 $5,016 $3,826 $5,520 $5,232 $7,654 $6,582 $8,204 $8,694 $8,694 $8,694 64.53% <-Total Growth 10 Market Cap
Diluted # of Shares in Million 85.207 96.311 119.509 128.6 138.8 157.6 171.3 222.7 277.4 279.7 281.7 283.3 283.7 283.7 137.39% <-Total Growth 10 Diluted
Change 4.05% 13.03% 24.09% 7.61% 7.93% 13.54% 8.69% 30.01% 24.56% 0.83% 0.72% 0.57% 0.14% 0.00% 7.77% <-Median-> 10 Change
Difference Diluted/Basic -1.4% -1.4% -2.9% -1.5% -0.8% -0.3% -0.2% 0.0% -0.2% -0.1% -0.6% -0.8% -0.6% -0.6% -0.41% <-Median-> 10 Difference Diluted/Basic
Basic # of Shares in Millions 84.042 94.986 116.068 126.7 137.7 157.2 171.0 222.6 276.9 279.4 279.9 281.0 282.1 282.1 282.1 282.1 143.05% <-Total Growth 10 Basic
Change 3.10% 13.02% 22.19% 9.16% 8.68% 14.16% 8.78% 30.18% 24.39% 0.90% 0.18% 0.39% 0.39% 0.00% 0.00% 0.00% 8.73% <-Median-> 10 Change
Difference Basic/Outstanding 6.2% 10.9% 5.4% 5.7% 6.2% 6.2% 2.5% 23.6% 0.8% 0.0% 0.1% 0.2% 4.5% 4.5% 4.5% 4.5% 3.52% <-Median-> 10 Difference Basic/Outstanding
# of Share in Millons 89.248 105.340 122.305 133.942 146.281 166.907 175.279 275.224 279.075 279.494 280.269 281.532 294.904 294.904 294.904 294.904 9.20% <-IRR #YR-> 10 Shares 141.12%
Increase 8.15% 18.03% 16.11% 9.51% 9.21% 14.10% 5.02% 57.02% 1.40% 0.15% 0.28% 0.45% 4.75% 0.00% 0.00% 0.00% 1.39% <-IRR #YR-> 5 Shares 7.15%
CF fr Op $M $209.9 $146.4 $366.3 $457.7 $501.2 $456.2 $545.2 -$78.6 $615.5 $773 $738 $539 $1,121 $1,180 $1,203 $1,289 206.00% <-Total Growth 10 Cash Flow
Increase 8.98% -30.27% 150.31% 24.94% 9.50% -8.98% 19.51% -114.42% -883.08% 25.59% -4.53% -26.96% 107.98% 5.23% 2.00% 7.11% SO, S. Issue DRIP
5 year Running Average $195.06 $187.67 $219.86 $274.58 $336.30 $385.56 $465.33 $376.34 $407.90 $462.26 $518.62 $517.38 $757.30 $870.12 $956.16 $1,066.31 244.45% <-Total Growth 10 CF 5 Yr Running
CFPS $2.35 $1.39 $3.00 $3.42 $3.43 $2.73 $3.11 -$0.29 $2.21 $2.77 $2.63 $1.91 $3.80 $4.00 $4.08 $4.37 26.91% <-Total Growth 10 Cash Flow per Share
Increase 0.77% -40.92% 115.59% 14.08% 0.27% -20.23% 13.80% -109.18% -872.27% 25.40% -4.79% -27.29% 98.55% 5.23% 2.00% 7.11% 11.83% <-IRR #YR-> 10 Cash Flow 206.00%
5 year Running Average $2.60 $2.24 $2.27 $2.50 $2.72 $2.79 $3.14 $2.48 $2.24 $2.11 $2.09 $1.85 $2.66 $3.02 $3.29 $3.63 #NUM! <-IRR #YR-> 5 Cash Flow 1526.21%
P/CF on Med Price 11.40 22.36 12.34 13.15 11.19 11.53 10.00 -72.31 7.74 5.81 8.78 13.92 6.13 7.10 0.00 0.00 2.41% <-IRR #YR-> 10 Cash Flow per Share 26.91%
P/CF on Closing Price 13.54 24.16 13.61 12.68 9.02 12.40 9.20 -48.67 8.97 6.77 10.37 12.21 7.32 7.37 7.23 6.75 #NUM! <-IRR #YR-> 5 Cash Flow per Share 1431.03%
-21.53% Diff M/C 1.60% <-IRR #YR-> 10 CFPS 5 yr Running 17.22%
Excl.Working Capital CF $9.27 $107.49 $32.07 $10.90 -$39.20 $77.50 -$5.90 $486.50 $231.50 $203 $410 $650 -$100 $0 $0 $0 1.44% <-IRR #YR-> 5 CFPS 5 yr Running 7.41%
CF fr Op $M WC $219.17 $253.84 $398.41 $468.60 $462.00 $533.70 $539.30 $407.90 $847.00 $976 $1,148 $1,189 $1,021 $1,180 $1,203 $1,289 156.27% <-Total Growth 10 Cash Flow less WC
Increase 12.66% 15.82% 56.95% 17.62% -1.41% 15.52% 1.05% -24.36% 107.65% 15.23% 17.62% 3.57% -14.13% 15.54% 2.00% 7.11% 9.87% <-IRR #YR-> 10 Cash Flow less WC 156.27%
5 year Running Average $198.88 $217.13 $253.56 $306.91 $360.41 $423.31 $480.40 $482.30 $557.98 $661 $784 $914 $1,036 $1,103 $1,148 $1,176 20.14% <-IRR #YR-> 5 Cash Flow less WC 150.31%
CFPS Excl. WC $2.46 $2.41 $3.26 $3.50 $3.16 $3.20 $3.08 $1.48 $3.04 $3.49 $4.10 $4.22 $3.46 $4.00 $4.08 $4.37 15.12% <-IRR #YR-> 10 CF less WC 5 Yr Run 308.66%
Increase 4.18% -1.87% 35.18% 7.40% -9.73% 1.24% -3.78% -51.83% 104.78% 15.06% 17.30% 3.11% -18.02% 15.54% 2.00% 7.11% 16.53% <-IRR #YR-> 5 CF less WC 5 Yr Run 114.85%
5 year Running Average $2.63 $2.55 $2.60 $2.80 $2.96 $3.10 $3.24 $2.88 $2.79 $2.86 $3.04 $3.27 $3.66 $3.85 $3.97 $4.03 0.61% <-IRR #YR-> 10 CFPS - Less WC 6.28%
P/CF on Med Price 10.92 12.89 11.35 12.84 12.14 9.85 10.11 13.93 5.63 4.60 5.65 6.31 6.73 7.10 0.00 0.00 18.49% <-IRR #YR-> 5 CFPS - Less WC 133.60%
P/CF on Closing Price 12.97 13.93 12.52 12.39 9.78 10.60 9.30 9.38 6.52 5.36 6.67 5.54 8.04 7.37 7.23 6.75 3.49% <-IRR #YR-> 10 CFPS 5 yr Running 40.90%
*Operational Cash Flow per share CF/-WC P/CF Med 10 yr 9.39 5 yr  7.74 P/CF Med 10 yr 8.29 5 yr  5.65 -11.11% Diff M/C 4.90% <-IRR #YR-> 5 CFPS 5 yr Running 27.03%
OPM 13.42% 10.09% 17.93% 19.02% 22.86% 20.83% 21.33% -1.85% 11.20% 13.84% 6.98% 3.83% 8.63% 8.64% -54.66% <-Total Growth 10 OPM
Increase -5.63% -24.81% 77.69% 6.09% 20.15% -8.85% 2.37% -108.66% 706.61% 23.52% -49.55% -45.18% 125.42% 0.13% should be zero, it is a check on calculations
Diff from Median 7.22% -19.38% 43.25% 51.97% 82.58% 66.43% 70.38% -114.75% -10.52% 10.52% -44.24% -69.44% -31.10% -31.01% 0.00 <-Median-> 10 OPM
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 12.52% 5 Yrs 8.63% Should increase or be stable.
$1,607 <-12 mths 2.01%
Normalized EBITDA $257 $326 $509 $546 $582 $701 $797 $1,009 $1,271 $1,310 $1,490 $1,537 $1,575 $1,734 $1,816 $1,906 209.49% <-Total Growth 10 Normalized EBITDA
Normalized EBITDA per share $3.06 $3.43 $4.38 $4.31 $4.23 $4.46 $4.66 $4.53 $4.59 $4.69 $5.32 $5.47 $5.58 $6.15 $6.44 $6.76 27.34% <-Total Growth 10 Normalized EBITDA per share
EBITDA per Share $2.88 $3.09 $4.16 $4.31 $4.22 $4.46 $4.66 $4.53 $4.59 $4.69 $5.32 $5.47 $5.58 $6.15 $6.44 $6.76 34.18% <-Total Growth 10 EBITDA per Share
Change 7.47% 34.45% 3.58% -2.09% 5.67% 4.52% -2.75% 1.26% 2.15% 13.54% 2.75% 2.07% 10.10% 4.73% 4.96% 2.45% <-Median-> 10 Change
Price/EBITDA 11.06 10.85 9.80 10.06 7.32 7.60 6.14 3.07 4.31 3.99 5.13 4.27 4.98 4.80 4.58 4.36 5.06 <-Median-> 10 Price/EBITDA
Margin 16.43% 22.48% 24.91% 22.69% 26.54% 32.01% 31.18% 23.70% 23.13% 23.45% 14.09% 10.91% 12.12% 12.69% 0.23 <-Median-> 10 Margin
Covering Assets $2,633 $4,243 $5,219 $5,672 $6,967 $7,074 $7,026 $13,876 $10,909 $11,577 $11,986 $12,484 $13,385 $13,385 156.48% <-Total Growth 10 Covering Assets
change 61.13% 23.01% 8.69% 22.83% 1.53% -0.68% 97.49% -21.38% 6.13% 3.53% 4.15% 7.22% 0.00% 5.14% <-Median-> 10 Change
Debt/Covering Assets 0.46 0.62 0.57 0.54 0.54 0.48 0.49 0.58 0.54 0.66 0.64 0.70 0.89 0.56 0.56 <-Median-> 10 Debt/Covering Assets Type
Long Term Debt $1,214.3 $2,626.1 $2,952.7 $3,049.6 $3,732.4 $3,366.9 $3,436.5 $8,066.9 $5,927.8 $7,626 $7,684 $8,694 $7,528 $7,528 154.95% <-Total Growth 10 Debt Lg Term R
Change 116.26% 12.44% 3.28% 22.39% -9.79% 2.07% 134.74% -26.52% 28.65% 0.76% 13.14% -13.41% 0.00% 2.67% <-Median-> 10 Change Lg Term R+A
Debt/Market Cap Ratio 0.43 0.74 0.59 0.53 0.83 0.60 0.69 2.11 1.07 1.46 1.00 1.32 0.92 0.87 0.96 <-Median-> 10 Debt/Market Cap Ratio Intang/GW
Assets/Current Liabilities Ratio 6.21 10.51 10.05 11.00 10.66 10.24 12.31 5.73 6.33 8.26 8.13 7.03 6.88 6.88 8.19 <-Median-> 10 Assets/Current Liab. Ratio Liquidity
Debt to Cash Flow (Years) 5.79 17.94 8.06 6.66 7.45 7.38 6.30 -102.63 9.63 9.87 10.41 16.13 6.72 6.38 7.41 <-Median-> 10 Debt to Cash Flow (Years) Liq. + CF
Liq. + CF + D
Intangibles $189.79 $195.26 $356.9 $735.1 $694.3 $588.8 $711.9 $585.6 $539 $171 $120 $122 $122 -37.52% <-Total Growth 10 Intangibles Debt Ratio
Goodwill $714.90 $743.10 $785.1 $877.3 $856.0 $817.3 $4,068.2 $3,942.1 $5,039 $5,153 $5,250 $5,270 $5,270 609.19% <-Total Growth 10 Goodwill Leverage
Total $904.69 $938.36 $1,142.0 $1,612.4 $1,550.3 $1,406.1 $4,780.1 $4,527.7 $5,578 $5,324 $5,370 $5,392 $5,392 474.62% <-Total Growth 10 Total D/E Ratio
Change 3.72% 21.70% 41.19% -3.85% -9.30% 239.95% -5.28% 23.20% -4.55% 0.86% 0.41% 0.00% 0.64% <-Median-> 10 Change
Intangible/Market Cap Ratio 0.26 0.19 0.20 0.36 0.27 0.28 1.25 0.82 1.07 0.70 0.82 0.66 0.62 0.68 <-Median-> 10 Intangible/Market Cap Ratio
Current Assets $368.41 $591.36 $618.41 $1,058.4 $1,037.8 $738.6 $701.9 $4,033.0 $2,196.2 $2,497 $2,624 $4,638 $3,045 $3,045 392.39% <-Total Growth 10 Current Assets
Current Liabilities $570.55 $562.65 $724.45 $765.1 $947.7 $996.1 $815.2 $4,102.0 $3,126.1 $2,607 $2,657 $3,407 $3,413 $3,413 371.12% <-Total Growth 10 Current Liabilities
Liquidity Ratio 0.65 1.05 0.85 1.38 1.10 0.74 0.86 0.98 0.70 0.96 0.99 1.36 0.89 0.89 0.97 <-Median-> 10 Ratio
Liq. with CF NC aft div 0.81 1.05 1.11 1.69 1.34 0.86 1.08 0.86 0.81 1.15 1.15 1.43 1.12 1.13 1.15 <-Median-> 5 Liq. with CF NC aft div
Liq. CF re  Inv+Div  0.40 0.27 0.40 0.95 0.51 0.49 0.67 0.38 0.81 0.79 0.97 1.11 1.06 1.13 0.97 <-Median-> 5 Liq. CF re  Inv+Div 
Cur. Lg Term Debt $105.96 $0.00 $209.07 $214.4 $387.5 $383.4 $188.9 $890.2 $922.9 $360 $511 $334 $999 $999 $511.0 <-Median-> 5 Cur. Lg Term Debt
Liquidity Ratio 0.79 1.05 1.20 1.92 1.85 1.21 1.12 1.26 1.00 1.11 1.22 1.51 1.26 1.26 1.22 <-Median-> 5 Liquidity Ratio
Liq. with CF aft div 0.99 1.05 1.56 2.35 2.26 1.40 1.40 1.06 1.15 1.34 1.43 1.59 1.59 1.60 1.43 <-Median-> 5 Liq. with CF aft div
Assets $3,542.4 $5,911.9 $7,281.3 $8,413.4 $10,099.5 $10,200.6 $10,032.2 $23,487.7 $19,794.5 $21,532 $21,593 $23,965 $23,471 $23,471 Debt Ratio of 1.5 and up, best
Liabilities $2,180.3 $3,912.1 $4,451.8 $4,839.2 $5,896.6 $5,585.2 $5,393.0 $15,847.5 $12,425.7 $13,871 $13,992 $16,347 $15,608 $15,608 1.57 <-Median-> 10 Ratio
Debt Ratio 1.62 1.51 1.64 1.74 1.71 1.83 1.86 1.48 1.59 1.55 1.54 1.47 1.50 1.50 1.54 <-Median-> 5 Ratio
Estimates BVPS $25.08 $27.10 $28.20 Estimates Estimates BVPS
Estimate Book Value $7,396.2 $7,991.9 $8,316.3 Estimates Estimate Book Value
-5.94% 8.05% 4.06%
P/B Ratio (Close) 1.18 1.09 1.05 Estimates P/B Ratio (Close)
Difference from 10 year median 21.26% Diff M/C Estimates Difference from 10 yr med.
Check on BV $1,565 $2,753 $3,183 $3,596
Total Book Value $1,362 $2,000 $2,829 $3,574 $4,203 $4,615 $4,639 $7,640.2 $7,368.8 $7,661 $7,601 $7,618 $7,863 $7,863 177.90% <-Total Growth 10 Total Book Value
Non-Cont. Int. $5 $40 $38 $33 $35 $35 $66 $620.6 $153.9 $620 $652 $162 $150 $150 Non-Cont. Int.
Net Book Value $1,357 $1,960 $2,792 $3,541 $4,168 $4,581 $4,573 $7,019.6 $7,214.9 $7,041 $6,949 $7,456 $7,713 $7,713 176.28% <-Total Growth 10 Book Value & Pref
Net Book Value per Share $15.21 $18.60 $22.83 $26.44 $28.49 $27.44 $26.09 $25.51 $25.85 $25.19 $24.79 $26.48 $26.15 $26.15 14.58% <-Total Growth 10 Book Value per Share
P/B Ratio (Median) 1.76 1.67 1.62 1.70 1.35 1.15 1.19 0.81 0.66 0.64 0.93 1.01 0.89 1.09 0.97 P/B Ratio 10 yr Med
Preferred Shares $194 $395 $590 $788 $985.1 $985.1 $1,277.7 $1,318.8 $1,277.1 $1,077 $1,076 $586 $391 $391 -33.69% <-Total Growth 10 Preferred Shares
Book Value $1,163 $1,565 $2,202 $2,753 $3,183 $3,596 $3,296 $5,700.8 $5,937.8 $5,964 $5,873 $6,870 $7,322 $7,322 $7,322 $7,322 232.50% <-Total Growth 10 Book Value
BV per share $13.03 $14.86 $18.00 $20.55 $21.76 $21.54 $18.80 $20.71 $21.28 $21.34 $20.95 $24.40 $24.83 $24.83 $24.83 $24.83 37.90% <-Total Growth 10 Book Value per Share
Change 5.75% 14.01% 21.18% 14.14% 5.87% -1.00% -12.72% 10.16% 2.72% 0.29% -1.80% 16.45% 1.75% 0.00% 0.00% 0.00% -24.32% P/B Ratio Current/Historical Median
P/B Ratio (Median) 2.06 2.09 2.05 2.19 1.76 1.46 1.65 1.00 0.80 0.75 1.10 1.09 0.94 1.14 0.00 0.00 1.57 P/B Ratio Historical Median
P/B Ratio (Close) 2.44 2.26 2.26 2.11 1.42 1.57 1.52 0.67 0.93 0.88 1.30 0.96 1.12 1.19 1.19 1.19 3.27% <-IRR #YR-> 10 Book Value 37.90%
Change 38.75% -7.52% 0.22% -6.87% -32.66% 10.81% -3.28% -55.91% 38.53% -5.63% 48.56% -26.48% 16.95% 5.97% 0.00% 0.00% 3.69% <-IRR #YR-> 5 Book Value 19.87%
Leverage (A/BK) 2.60 2.96 2.57 2.35 2.40 2.21 2.16 3.07 2.69 2.81 2.84 3.15 2.98 2.98 2.75 <-Median-> 10 A/BV
Debt/Equity Ratio 1.60 1.96 1.57 1.35 1.40 1.21 1.16 2.07 1.69 1.81 1.84 2.15 1.98 1.98 1.75 <-Median-> 10 Debt/Eq Ratio
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Med 1.10 5 yr Med 0.94 8.16% Diff M/C
Comprehensive Income $85.83 $116.65 $263.35 $261.9 $330.1 $185.0 -$106.1 -$73.8 $506.2 $377 $283 $1,204 $458 73.91% <-Total Growth 10 Comprehensive Income
NCI $0.00 $3.49 $7.33 $8.1 $8.6 $9.9 -$114.4 -$18.6 $6.8 $20 $20 $53 $16 NCI
Shareholders $85.8 $113.16 $256.02 $253.8 $321.5 $175.1 $8.3 -$55.2 $499.4 $357 $263 $1,151 $442 72.64% <-Total Growth 10 Shareholders
Increase 11.05% 31.84% 126.24% -0.87% 26.67% -45.54% -95.26% -765.06% 1004.71% -28.51% -26.33% 337.64% -61.60% -26.33% <-Median-> 5 Comprehensive Income
5 Yr Running Average $120 $115 $133 $157 $206 $224 $203 $141 $190 $197 $215 $443 $542 5.61% <-IRR #YR-> 10 Comprehensive Income 72.64%
ROE 7.4% 7.2% 11.6% 9.2% 10.1% 4.9% 0.3% -1.0% 8.4% 6.0% 4.5% 16.8% 6.0% #NUM! <-IRR #YR-> 5 Comprehensive Income 900.72%
5Yr Median 12.5% 7.6% 7.6% 7.6% 9.2% 9.2% 9.2% 4.9% 4.9% 4.9% 4.5% 6.0% 6.0% 15.12% <-IRR #YR-> 10 5 Yr Running Average 308.94%
% Difference from NI 2.7% 11.1% 41.1% 165.5% 3147.5% 12.7% -72.6% -89.0% -34.7% -26.5% 14.3% 188.5% -31.0% 30.98% <-IRR #YR-> 5 5 Yr Running Average 285.56%
Median Values Diff 5, 10 yr -6.9% -26.5% 6.0% <-Median-> 5 Return on Equity
Current Liability Coverage Ratio 0.38 0.45 0.55 0.61 0.49 0.54 0.66 0.10 0.27 0.37 0.43 0.35 0.30 0.35   CFO / Current Liabilities
5 year Median 0.59 0.45 0.45 0.55 0.49 0.54 0.55 0.54 0.49 0.37 0.37 0.35 0.35 0.35 40.3% <-Median-> 10 Current Liability Cov Ratio
Asset Efficiency Ratio 6.19% 4.29% 5.47% 5.57% 4.57% 5.23% 5.38% 1.74% 4.28% 4.53% 5.32% 4.96% 4.35% 5.03% CFO / Total Assets
5 year Median 7.68% 7.07% 6.19% 5.57% 5.47% 5.23% 5.38% 5.23% 4.57% 4.53% 4.53% 4.53% 4.53% 4.96% 4.8% <-Median-> 10 Return on Assets 
Return on Assets ROA 2.36% 1.72% 2.49% 1.14% 0.10% 1.52% 0.30% -2.14% 3.86% 2.26% 1.07% 1.66% 2.73% 2.73% Net  Income/Assets Return on Assets
5Yr Median 5.37% 3.53% 2.49% 2.36% 1.72% 1.52% 1.14% 0.30% 0.30% 1.52% 1.07% 1.66% 2.26% 2.26% 1.3% <-Median-> 10 Asset Efficiency Ratio
Return on Equity ROE 7.19% 6.51% 8.24% 3.47% 0.31% 4.32% 0.92% -8.80% 12.88% 8.15% 3.92% 5.81% 8.75% 8.77% Net Inc/ Shareholders' equity Return on Equity
5Yr Median 13.47% 9.56% 8.24% 7.19% 6.51% 4.32% 3.47% 0.92% 0.92% 4.32% 3.92% 5.81% 8.15% 8.15% 4.1% <-Median-> 10 Return on Equity
$501.50 <-12 mths -21.76%
Net Income $94.60 $120.26 $208.43 $138.2 $59.7 $213.4 $99.9 -$453.7 $840.3 $572 $340 $573 $689 230.57% <-Total Growth 10 Net Income
NCI $0.00 $3.49 $7.33 $8.1 $8.6 $9.9 $8.3 -$18.6 $6.8 $20 $57 $50 $16 NCI
Preferred Shareholders $11.00 $14.92 $19.63 $34.5 $41.2 $48.1 $61.3 $66.6 $68.5 $66 $53 $124 $32 63.02% <-Total Growth 10 Preferred Shareholders
Shareholders $83.60 $101.85 $181.47 $95.6 $9.9 $155.4 $30.3 -$501.7 $765.0 $486 $230 $399 $641 $642 $703 $616 253.23% <-Total Growth 10 Shareholders
Increase -14.01% 21.83% 78.18% -47.32% -89.64% 1469.70% -80.50% -1755.78% 252.48% -36.47% -52.67% 73.48% 60.65% 0.12% 9.47% -12.33% EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average $118.9 $117.5 $121.1 $111.9 $94.5 $108.8 $94.5 -$42.1 $91.8 $187 $202 $276 $504 $479.6 $522.9 $600.1 13.45% <-IRR #YR-> 10 Net Income 253.23%
Operating Cash Flow $209.90 $146.4 $366.3 $457.7 $501.2 $456.2 $545.2 -$78.6 $615.5 $773 $738 $539 $1,121 #NUM! <-IRR #YR-> 5 Net Income 227.77%
Investment Cash Flow -$584.55 -$1,624.5 -$1,264.8 -$591.1 -$1,515.6 -$752.2 -$499.3 -$5,834.4 $2,183.7 -$1,211 -$483 -$997 -$199 15.33% <-IRR #YR-> 10 5 Yr Running Ave. 316.39%
Total Accruals $458.3 $1,580.0 $1,079.9 $229.0 $1,024.3 $451.4 -$15.6 $5,411.3 -$2,034.2 $924.0 -$25.0 $857.0 -$281.0 #NUM! <-IRR #YR-> 5 5 Yr Running Ave. 1297.62%
Total Assets $3,542.4 $5,911.9 $7,281.3 $8,413.4 $10,099.5 $10,200.6 $10,032.2 $23,487.7 $19,794.5 $21,532 $21,593 $23,965 $23,471 Balance Sheet Assets
Accruals Ratio 12.94% 26.72% 14.83% 2.72% 10.14% 4.43% -0.16% 23.04% -10.28% 4.29% -0.12% 3.58% -1.20% -0.12% <-Median-> 5 Ratio
EPS/CF Ratio 0.39 0.44 0.47 0.21 0.02 0.31 0.06 -1.52 0.91 0.50 0.20 0.33 0.65 0.26 <-Median-> 10 EPS/CF Ratio
Change in Close 46.73% 5.43% 21.45% 6.30% -28.70% 9.71% -15.58% -51.43% 42.30% -5.36% 45.89% -14.39% 18.99% 5.97% 0.00% 0.00% Count 25 Years of data
up/down down down down down down up Count 14 56.00%
Meet Prediction? % right Count 1 7.14%
Financial Cash Flow $376.81 $1,487.14 $930.82 $455.7 $929.6 $21.4 -$38.0 $5,987.0 -$2,873.7 $392 -$245 $435 -$882 C F Statement  Financial CF
Total Accruals $81.44 $92.81 $149.08 -$226.7 $94.7 $430.0 $22.4 -$575.7 $839.5 $532 $220 $422 $601 Accruals
Accruals Ratio 2.30% 1.57% 2.05% -2.69% 0.94% 4.22% 0.22% -2.45% 4.24% 2.47% 1.02% 1.76% 2.56% 2.47% <-Median-> 5 Ratio
Cash $11.83 $44.81 $371.0 $293.4 $19.0 $27.3 $201.1 $122.4 $74 $84 $64 $104 $104 Cash
Cash per Share $0.11 $0.37 $2.77 $2.01 $0.11 $0.16 $0.73 $0.44 $0 $0 $0 $0 $0.35 $0.30 <-Median-> 5 Cash per Share
Percentage of Stock Price 0.33% 0.90% 6.39% 6.49% 0.34% 0.54% 5.26% 2.22% 1.41% 1.10% 0.97% 1.27% 1.20% 1.27% <-Median-> 5 % of Stock Price
Taxable Income
Capital Gain
Dividend Income
Ret. Of Capital
Notes:
March 22, 2024.  Last estimates were for 2023, 2024 and 2025 of $13443M, $14143M and $5780M for Revenue, $3.97, $4.14 2023/ for AFFO, $1.94, $2.12 and 2.27 for AEPS, 1.94, $2.11 2023/4 for EPS,
 $1.12, $1.18 and $1.20 for Dividends, $7.89M, $716M and $788M for FCF, $4.10, $4.16 and $4.23 for CFPS, $25.20, $26.60 and $27.10 for BVPS, $563M and $616M 2022/4 for Net Income.
March 21, 2023.  Last estimates were for 2022, 2023 and $2024 of $8149M, $8492M and $11929M for Revenue, $3.54 and $4.02 for AFFO, $1.85, $1.97 and $2.28 for AEPS, $1.81, $1.97 and $2.31 for EPS, 
$1.06, $1.11 and $1.15 for Dividends, $695M, $7915M and $7915M for FCF, $3.89, $4.04 and $4.30 for CFPS, $22.60 and $23.50 for 2022/3 for BVPS, $554M, $602M and $692M for Net Income.
March 25, 2022.  Last estimates were for 2021, 2022 and 2023 of $5773M and $5928M for Revenue 2021-22, $3.43 and $3.89 for AFFO for 2021-22, $1.14 and $1.65 for Adj EPS for 2021-22, 
$1.57, $1.79 and $2.84 for EPS, $1.00, $1.03 and $1.04 for Dividends, $789M, $906M and $894M for FCF, $3.72, $3.94 and $4.25 fpr CFPS and $471M, $532M and $498M for Net Income.
March 21, 2021.  Last estimates were for 2020 and 2021 of $6545M and $6313M for Revenue, $3.00 and $3.36 for AFFO, and for 2020, 2021 and 2022 $1.23, $1.38 and $1.43 for normalized earnings, 
$1.25 $1.40 and $1.43 for EPS, $0.96, $0.98 and $0.98 for Dividends, $3.31, $3.47 and $3.50 for CFPS and $345M, $386M and $400M for Net Income.
March 19, 2020.  Last estimates were for 2019, 2020 and 2021 of $4417M, $4826M and $4712M for Revenue, $2.67 and $2.89 for 2019 and 2020 for AFFO, 
$0.97, $1.19 and $1.29 for Normalized EPS, $0.93, $1.14 and 1.14 for EPS, $0.99, $1.14 and $1.14 for Div, $3.01, $3.16 and 3.38 for CFPS and $268M, $249M and $394M for Net Income.
March 24, 2019.  Last estimates were for 2018, 2019 and 2020 with $3908M, $4806M and $4099M for Revenue, $3.17 for AFFO for 2018, $1.02 and 
$1.44 for 2018 and 2019 for Normalized Earnings, $0.89, $1.36 and $1.51 for EPS, $3.21, $3.94 and $4.13 for CFPS, $228M, $395M and $478M for Net Income.
March 18, 2018.  Last estimates were for 2017. 2018 smf 2019 pg %2700M, $3501M and $4533M for Revenue, $3.09 and $3.17 for AFFO for 2017 and 2018, 
$1.01, $0.99 and and $1.49 for Normalized EPS, $1.05, $0.90 and $1.97 for EPS, $3.07, $3.35 and $4.13 for CPFS and $209M, $238M and $615M for Net Income.
March 18, 2017.  Last estimates were for 216 and 2017 of $3134M and $3034M for Revenue, $3.77 and $4.04 for AFFO, $3.75 for 2016 for FFO, 
$1.87 for Normalized Earningfs fo 2016, $1.70 and $2.15 for EPS, $3.75 and $4.40 for CFPS and $214M and $290M for Net Income.
March 26, 2016.  Last estimates were for 2015, 2016 and 2017 of $2983M, $3134M and $3054M for Revenue, $3.66 and $3.96 and $1.69 and $1.87 for AFFO and Normalized EPS for 2015 and 2016,
 $1.63, $1.70 and $2.15 for EPS, $3.75, $4.10 and $4.40 for CFPS, and $225M, $247M and $290M for Net Income.
April 3, 2015.  Last estimates were for 2014 and 2015 of $3068M and $3340M for Revenue, $3.47 and $4.03 for AFFO, $1.72 and $2.26 for EPS, $4.00 and $4.63 for CFPS
March 21, 2014.  Last estimates were for 2013, 2014 and 2015 of $1746M, $2082M and $2657M for Revenue, $3.13 and $3.30 AFFO (2013, 2014), $1.49, 1.63 and $1.68 for EPS, and $3.55, 3.91 and $4.51 for CFPS. 
March 14 2013.  Last estimates were for 2012 and 2013 at $2025 and $2315M for Revenue, $2.80 and 3.50 for FFO, EPS $1.26 and $1.59 (and $1.81 for 2014) and $2.83 and $3.38 for CFPS
Dec 02, 2012 Restored from website file.
April 14, 2012.  Last estimates were for 2011 and 2012 with $2.20 and $2.45 for Distributable income, $1.00 and $1.15 for EPS and $2.46 and $2.70 for Cash Flow.
Apr 6, 2011.  Last I looked I got estimates for 2010 and 2011 for earnings of $1.50 and 1.10 and CF of $2.50 and 2.30 and distributable Inc of $2.68 for 2010.
July 8, 2010 company changed from a Unit Trust to a corporation.  Symbol changed from AltaGas Income Trust (ALA.UN) to AltaGa Ltd. (ALA).  Dividends to be reduced.
Feb 28, 2010.  In Nov 2009, I picked up 2009 and 2010 values for earnings of $1.60 and $1.50, Dis Inc of $2.60 and $2.68 and cash flow of $2.40 and $2.48.
Interesting that no one expects much increase in stock price this year, but there is an awful lot of insider buying. 
Nov 5, 2009 Earnings and cash flow pickup up at the time I updated for 2008 report have not changed.
AR 2008, I picked up earnings of $1.60 and $1.50 and cash flow of $240 and $2.48  for 2009 and 2010.
They changed to an income trust in 2004.  They plan to convert back to a corporate structure before 2011. In the third annual report, they said they expect the dividend to be from $1.10 to $1.40.
2007. In addition, a special distribution of one AltaGas Utility Group Inc. (Utility Group) common share was issued for every 100 Trust units and exchangeable units held on
August 27, 2007. Any Trust unitholder allocated fewer than 50 common shares of Utility Group received cash. The cash value of the distribution was determined to be $0.076 per unit.
2005.  In addition, one share of AltaGas Utility Group Inc. was issued for every 13.9592 trust
units and exchangeable units held on November 14, 2005 distribution of $0.5373 per unit
This company was formed on 1 April 1994 from the ashes of a deliberately dismantled company formed to coordinate Alberta gas exports to California.
Normalized Earnings.
Earnings are normalized for after-tax amounts related to transaction costs related to acquisitions, development costs related to energy export projects,
provisions on assets and on investments accounted for by the equity method, unrealized gain on risk management contracts, and loss on long-term investments.
Sector:
Infrastructure, Utility
What should this stock accomplish?
Would I buy this company and Why.
This is a dividend growth company and I would buy it again.
Why am I following this stock. 
I bought this stock in 2009 and therefore started to follow it.
Why I bought this stock.
When I bought this stock in 2009 it was on many dividend growth stock lists.  In 2009, I saw that this stock also had good growth in Revenues, Earnings, Dividends, and Stock Prices over the last 5 and 10 years.     
The stock had a fairly strong balance sheet.  I took a small position in this stock, and planned to wait and see how things go with this stock before buying more.  I bought more in 2010 and 2012.
Dividends
Dividends are going monthly in 2022.  Cycle 3 of March, June, September and December.
Dividends are monthly.  Dividends are declared one month for the middle of the following month.  For example, the dividend payable on November 15, 2013 was for shareholders of record of October 25, 2013.
The dividewnd had an ex-dividend date of October 23rd and was declared on October 10, 2013.
Misson Statement or closes thing I can find.
What I am looking for is a statement that the company wants to do well by their customers, employees, and community and and thereby earn shareholders a reasonable return.
For customers 
For employees 
For community 
For investors 
How they make their money.
AltaGas Ltd owns and operates a diversified basket of energy infrastructure businesses. Business is conducted through given segments: Midstream, Utilities and 
Corporate/other.  Revenue is derived from customers in both Canada and the United States, with Canadian customers contributing the most.   
For most ratios, lower is better when looking for a good stock price.  However, there are exceptions such as for yield and asset/liability ratios and here you want a higher ratios to indicate a good stock price.  
Also, for the Operational Profit Margin, a higher percentage is better.  With the OPM, you should only compare companies in similar industries.
AltaGas Holding Limited Partnership No. 2
Shares; '%, Value $M %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Change
Date 2016 Mar 18 2017 Mar 18 2018 Mar 24 2019 Mar 19 2020 Mar 21 2021 Mar 25 2022 Mar 21 2023 Mar 21 2023
Yu, Vern D. 0.091 0.03% #DIV/0!
CEO - Shares - Amount $2.681
Options - percentage 0.573 0.19% #DIV/0!
Options - amount $16.885
Crawford, Randall Loy 0.000 0.00% 0.019 0.01% 0.069 0.02% 0.069 0.02% 0.069 0.02%
CEO - Shares - Amount $0.000 $0.346 $1.871 $1.602 $1.906
Options - percentage 0.663 0.24% 2.180 0.78% 2.960 1.06% 3.143 1.12% 2.690 0.91%
Options - amount $13.114 $40.816 $80.847 $73.483 $74.848
Harbilas, D. James 0.047 0.02% 0.048 0.02% 0.049 0.02% 0.050 0.02% 0.052 0.02% 2.84%
CFO - Shares - Amount $0.871 $1.310 $1.147 $1.395 $1.520
Options - percentage 0.677 0.24% 0.863 0.31% 0.908 0.32% 0.897 0.30% 0.932 0.32% 3.88%
Options - amount $12.675 $23.569 $21.225 $24.949 $27.464
Bushfield, Corine Renae Knight 0.000 0.00% 0.000 0.00% 0.004 0.00% 0.007 0.00% 0.012 0.00% 0.015 0.01% 0.018 0.01% 0.022 0.01% 21.88%
Officer - Shares - Amount $0.002 $0.001 $0.082 $0.140 $0.319 $0.348 $0.495 $0.639
Options - percentage 0.070 0.04% 0.078 0.03% 0.254 0.09% 0.576 0.21% 0.688 0.25% 0.723 0.26% 0.660 0.22% 0.673 0.23% 1.98%
Options - amount $2.003 $1.077 $5.020 $10.792 $18.798 $16.894 $18.354 $19.833
Grant, Bertram 0.013 0.00% 0.013 0.00% 0.00%
Officer - Shares - Amount $0.368 $0.390
Options - percentage 0.659 0.22% 0.499 0.17% -24.20%
Options - amount $18.321 $14.715
Knoll, Phillip R. 0.023 0.01% 0.023 0.01% 0.00%
Director - Shares - Amount $0.634 $0.672
Options - percentage 0.059 0.02% 0.069 0.02% 17.60%
Options - amount $1.629 $2.030
Cornhill, David Wallace 0.95% 1.593 0.91% 1.570 0.57% 1.585 0.57% 1.590 0.57% 1.590 0.57% 1.590 0.56% 1.615 0.55% 1.615 0.55% Was Chair and CEO -0.03%
Director Shares - Amount $53.654 $45.605 $21.823 $31.357 $29.770 $43.431 $37.181 $44.937 $47.606 until 2017.
Options - percentage 0.60% 0.980 0.56% 1.002 0.36% 1.045 0.37% 0.834 0.30% 0.600 0.21% 0.352 0.13% 0.105 0.04% 0.098 0.03% -6.41%
Options - amount $34.173 $28.054 $13.925 $20.666 $15.620 $16.375 $8.234 $2.921 $2.896
Karkkainen, Pentti Olavi 0.014 0.01% 0.017 0.01% 0.017 0.01% 0.017 0.01% 0.017 0.01% 0.00%
Chair  Shares - Amount $0.262 $0.464 $0.397 $0.473 $0.501
Options - percentage 0.012 0.00% 0.024 0.01% 0.033 0.01% 0.044 0.01% 0.055 0.02% 26.05%
Options - amount $0.220 $0.645 $0.761 $1.217 $1.626
Increase in O/S Shares 0.57% 0.338 0.20% 0.240 0.14% 0.057 0.02% 0.076 0.03% 0.088 0.03% 0.775 0.28% 1.263 0.45% 0.905 0.31% Average 0.22%
due to SO 2011-13 $25.779 $11.450 $6.872 $0.796 $1.507 $1.649 $21.158 $29.524 $25.191
Book Value $20.800 $9.300 $6.500 $1.300 $1.200 $1.000 $15.000 $28.000 $19.000
Insider Buying -$0.308 -$0.216 $0.000 -$1.341 -$2.353 -$0.112 -$0.066 -$0.580 -$1.909
Insider Selling $11.468 $1.878 $1.664 $0.478 $0.784 $0.000 $5.271 $7.288 $11.711
Net Insider Selling $11.160 $1.662 $1.664 -$0.863 -$1.569 -$0.112 $5.205 $6.708 $9.801
% of Market Cap 0.20% 0.03% 0.04% -0.02% -0.03% 0.00% 0.08% 0.08% 0.11%
Directors 9 9 12 12 12 12 10 11
Women 18% 2 22% 2 22% 3 25% 4 33% 4 33% 4 33% 4 40% 5 45%
Minorities 0% 0 0% 0 0% 0 0% 0 0% 1 8% 1 8% 1 10% 2 18%
Institutions/Holdings 40.91% 4 9.72% 7 13.60% 4 17.06% 20 29.46% 20 23.01% 20 23.35% 20 20.81%
Total Shares Held 36.01% 0.777 0.44% 1.088 0.62% 1.364 0.49% 81.562 29.23% 64.483 22.90% 65.757 22.30% 61.372 20.81%
Increase/Decrease -2.33% 0.005 0.61% 0.102 10.39% 0.041 3.09% 1.887 2.37% -0.761 -1.17% 1.698 2.65% -1.700 -2.70%
Starting No. of Shares 0.773 Reuters 0.986 Reuters 1.324 Reuters 79.675 Top 20 MS 65.244 Top 20 MS 64.059 Top 20 MS 63.072 Top 20 MS
Institutions/Holdings 199 171 39.06% 262 39.57%
Amount $1,494.320 $2,070.590
Total Shares Held 56.000 31.95% 56.000 31.95% 59.000 33.66%
Amount $1,602.720 $1,688.580
Increase/Decrease 2.000 3.70% 16.000 40.00% 6.000 11.32%
Starting No. of Shares 54.000 Morningstar 40.000 Morningstar 53.000 Morningstar
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