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.
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet. Estimates Estimates Estimates
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North West Company TSX: NWC OTC: NWTUF https://www.northwest.ca Fiscal Yr: Jan 31
Year 1/31/11 1/31/12 1/31/13 1/31/14 1/31/15 1/31/16 1/31/17 1/31/18 1/31/19 1/31/20 1/31/21 1/31/22 1/31/23 1/31/24 1/31/25 1/31/26 Value Description #Y Item Total G
Annual report 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Accounting Rules IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS
Split Date
split
Cost of Sales $1,067.15 $1,068.94 $1,088.07 $1,160.18 $1,273.42 $1,302.60 $1,367.66 $1,372.94 $1,430.00 $1,584.69 $1,511.05 $1,604.85 $1,656.34 <-12 mths 50.13% <-Total Growth 10 Cost of Sales
Change 0.17% 1.79% 6.63% 9.76% 2.29% 4.99% 0.39% 4.16% 10.82% -4.65% 6.21% 3.21% <-12 mths 0.05 <-Median-> 10 Change
Ratio 0.71 0.71 0.71 0.71 0.71 0.71 0.70 0.68 0.68 0.67 0.67 0.68 0.67 <-12 mths 0.69 <-Median-> 10 Ratio
Selling, Operating & Admin Expenses $338.67 $348.14 $354.99 $366.75 $415.29 $423.37 $472.12 $510.64 $534.05 $565.20 $517.33 $567.61 $595.96 <-12 mths 63.04% <-Total Growth 10 Selling, Operating & Admin Expenses
Change 2.79% 1.97% 3.31% 13.24% 1.94% 11.51% 8.16% 4.58% 5.83% -8.47% 9.72% 4.99% <-12 mths 0.05 <-Median-> 10 Change
Ratio 0.23 0.23 0.23 0.23 0.23 0.23 0.24 0.25 0.25 0.24 0.23 0.24 0.24 <-12 mths 0.24 <-Median-> 10 Ratio
Total $1,405.8 $1,417.1 $1,443.1 $1,526.9 $1,688.7 $1,726.0 $1,839.8 $1,883.6 $1,964.0 $2,149.9 $2,028.4 $2,172.5 $2,252.3 <-12 mths 53.31% <-Total Growth 10 Total
Change 0.80% 1.83% 5.81% 10.60% 2.21% 6.59% 2.38% 4.27% 9.46% -5.65% 7.10% 3.68% <-12 mths 0.05 <-Median-> 10 Change
Ratio 0.94 0.94 0.94 0.94 0.94 0.94 0.94 0.94 0.94 0.91 0.90 0.92 0.93 <-12 mths 0.94 <-Median-> 10 Ratio
$2,433.5 <-12 mths 3.43%
Revenue* $1,448.1 $1,495.1 $1,513.6 $1,543.1 $1,624.4 $1,796.0 $1,844.1 $1,953.7 $2,013.5 $2,094.4 $2,359.2 $2,248.8 $2,352.8 $2,465 $2,506 $2,579 55.44% <-Total Growth 10 Revenue
Increase 0.26% 3.25% 1.24% 1.95% 5.27% 10.57% 2.68% 5.95% 3.06% 4.02% 12.65% -4.68% 4.62% 4.77% 1.66% 2.91% 4.51% <-IRR #YR-> 10 Revenue 55.44%
5 year Running Average $1,258.9 $1,368.9 $1,458.8 $1,488.9 $1,524.9 $1,594.5 $1,664.3 $1,752.3 $1,846.4 $1,940.4 $2,053.0 $2,133.9 $2,213.7 $2,304.0 $2,386.4 $2,430.3 3.79% <-IRR #YR-> 5 Revenue 20.42%
Revenue per Share $29.93 $30.91 $31.28 $31.87 $33.49 $37.01 $37.99 $40.13 $41.30 $42.96 $48.53 $46.97 $49.27 $51.62 $52.48 $54.01 4.26% <-IRR #YR-> 10 5 yr Running Average 51.75%
Increase 0.26% 3.25% 1.22% 1.87% 5.11% 10.51% 2.64% 5.62% 2.93% 4.02% 12.96% -3.22% 4.90% 4.77% 1.66% 2.91% 4.79% <-IRR #YR-> 5 5 yr Running Average 26.33%
5 year Running Average $26.02 $28.30 $30.15 $30.77 $31.50 $32.91 $34.33 $36.10 $37.99 $39.88 $42.18 $43.98 $45.81 $47.87 $49.77 $50.87 4.65% <-IRR #YR-> 10 Revenue per Share 57.51%
P/S (Price/Sales) Med 0.67 0.66 0.69 0.78 0.73 0.72 0.75 0.77 0.71 0.71 0.55 0.72 0.73 0.68 0.00 0.00 4.19% <-IRR #YR-> 5 Revenue per Share 22.79%
P/S High Price 0.75 0.73 0.75 0.86 0.79 0.80 0.86 0.83 0.78 0.77 0.76 0.79 0.81 0.78 0.00 0.00 0.80 <-Median-> 10 P/S High Price 51.92%
P/S Low Price 0.59 0.59 0.63 0.71 0.66 0.63 0.64 0.71 0.65 0.64 0.34 0.64 0.65 0.58 0.00 0.00 0.65 <-Median-> 10 P/S Low Price 26.90%
P/S (Price/Sales) Closing 0.70 0.63 0.74 0.80 0.79 0.82 0.77 0.73 0.75 0.64 0.73 0.75 0.74 0.70 0.69 0.67 4.27% <-IRR #YR-> 10 5 yr Running Average
*Sales in M CDN $  P/S Med 20 yr  0.61 15 yr  0.64 P/S Med 10 yr  0.72 5 yr  0.71 -3.55% Diff M/C 4.88% <-IRR #YR-> 5 5 yr Running Average
-$1,514 $0 $0 $0 $0 $0 $0 $0 $0 $0 $2,353
-$1,954 $0 $0 $0 $0 $2,353
-$1,459 $0 $0 $0 $0 $0 $0 $0 $0 $0 $2,214
-$1,752 $0 $0 $0 $0 $2,214
-$31.28 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $49.27
-$40.13 $0.00 $0.00 $0.00 $0.00 $49.27
-$30.15 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $45.81
-$36.10 $0.00 $0.00 $0.00 $0.00 $45.81
$137.02 <-12 mths 0.72%
$2.75 <-12 mths 0.95%
TD  says $150.04 $132.33
Adjusted Profit CDN$ $76.6 $58.0 $65.1 $64.3 $62.9 $75.2 $79.6 $84.6 $81.7 $75.4 $144.8 $153.4 $136.0
Basic $1.59 $1.20 $1.35 $1.33 $1.30 $1.55 $1.64 $1.72 $1.68 $1.55 $2.97 $3.18 $2.86 111.50% <-Total Growth 10 AEPS
AEPS* Dilued $1.58 $1.19 $1.34 $1.32 $1.29 $1.54 $1.63 $1.70 $1.66 $1.53 $2.92 $3.06 $2.72 $2.76 $2.85 102.99% <-Total Growth 10 AEPS Fm TD
Increase -6.51% -24.68% 12.61% -1.49% -2.27% 19.48% 5.46% 4.77% -2.40% -8.15% 91.57% 4.63% -11.11% 1.47% 3.26% 10 0 10 Years of Data, EPS P or N 100.00%
5 year Running Average $1.45 $1.47 $1.47 $1.42 $1.34 $1.34 $1.42 $1.50 $1.56 $1.61 $1.89 $2.18 $2.38 $2.60 $2.86 7.34% <-IRR #YR-> 10 AEPS 102.99%
AEPS Yield 7.49% 6.13% 5.79% 5.19% 4.86% 5.05% 5.55% 5.84% 5.33% 5.54% 8.27% 8.73% 7.51% 7.66% 7.91% 9.82% <-IRR #YR-> 5 AEPS 59.73%
Payout Ratio 86.08% 80.67% 77.61% 84.85% 89.92% 77.86% 76.29% 75.17% 77.01% 86.47% 47.19% 47.71% 54.78% 55.80% 54.74% 4.92% <-IRR #YR-> 10 5 yr Running Average 61.59%
5 year Running Average 79.26% 81.11% 80.90% 81.46% 83.83% 82.18% 81.31% 80.82% 79.25% 78.56% 72.42% 66.71% 62.63% 58.39% 52.04% 9.72% <-IRR #YR-> 5 5 yr Running Average 59.01%
Price/AEPS Median 12.67 17.18 16.12 18.89 18.92 17.20 17.51 18.22 17.68 19.86 9.14 11.02 13.21 12.72 0.00 17.59 <-Median-> 10 Price/AEPS Median
Price/AEPS High 14.23 18.91 17.60 20.67 20.59 19.17 20.12 19.62 19.32 21.64 12.60 12.15 14.68 14.62 0.00 19.47 <-Median-> 10 Price/AEPS High
Price/AEPS Low 11.12 15.45 14.63 17.12 17.26 15.24 14.89 16.83 16.05 18.09 5.68 9.90 11.74 10.83 0.00 15.64 <-Median-> 10 Price/AEPS Low
Price/AEPS Close 13.35 16.30 17.27 19.26 20.59 19.81 18.01 17.11 18.75 18.07 12.09 11.45 13.32 13.05 12.64 18.04 <-Median-> 10 Price/AEPS Close
Trailing P/AEPS Close 12.48 12.28 19.45 18.97 20.12 23.67 19.00 17.93 18.30 16.59 23.17 11.99 11.84 13.24 13.05 18.64 <-Median-> 10 Trailing P/AEPS Close
Median Values DPR 10 Yrs 76.65% 5 Yrs   54.78% P/CF 5 Yrs   in order 13.21 14.68 11.74 13.32 -1.20% Diff M/C DPR 75% to 95% best
* Adjusted Net Earnings
-$1.34 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.72
-$1.70 $0.00 $0.00 $0.00 $0.00 $2.72
-$1.47 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.38
-$1.50 $0.00 $0.00 $0.00 $0.00 $2.38
$2.49 <-12 mths -0.80%
EPS Basic $1.59 $1.20 $1.35 $1.33 $1.30 $1.44 $1.59 $1.38 $1.78 $1.70 $2.87 $3.21 $2.55 88.89% <-Total Growth 10 EPS Basic Est. WSJ
Pre-split 2006
EPS Diluted* $1.58 $1.19 $1.34 $1.32 $1.29 $1.43 $1.57 $1.36 $1.77 $1.68 $2.82 $3.16 $2.51 $2.71 $2.88 $3.13 87.31% <-Total Growth 10 EPS Diluted
Increase -6.51% -24.68% 12.61% -1.49% -2.27% 10.85% 9.79% -13.38% 30.15% -5.08% 67.86% 12.06% -20.57% 7.97% 6.27% 8.68% 10 0 10 Years of Data, EPS P or N
Earnings Yield 7.5% 6.1% 5.8% 5.2% 4.9% 4.7% 5.4% 4.7% 5.7% 6.1% 8.0% 9.0% 6.9% 7.5% 8.0% 8.7% 6.48% <-IRR #YR-> 10 Earnings per Share 87.31%
5 year Running Average $1.45 $1.47 $1.47 $1.42 $1.34 $1.31 $1.39 $1.39 $1.48 $1.56 $1.84 $2.16 $2.39 $2.58 $2.82 $2.88 13.04% <-IRR #YR-> 5 Earnings per Share 84.56%
10 year Running Average $1.10 $1.16 $1.22 $1.28 $1.33 $1.38 $1.43 $1.43 $1.45 $1.45 $1.58 $1.77 $1.89 $2.03 $2.19 $2.36 4.96% <-IRR #YR-> 10 5 yr Running Average 62.23%
* ESP per share (Cdn GAAP) E/P 10 Yrs 5.52% 5Yrs 6.93% 11.37% <-IRR #YR-> 5 5 yr Running Average 71.31%
-$1.34 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.51
-$1.36 $0.00 $0.00 $0.00 $0.00 $2.51
-$1.47 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.39
-$1.39 $0.00 $0.00 $0.00 $0.00 $2.39
Dividend* $1.54 $1.57 Estimates Dividend*
Increase 3.36% 1.95% Estimates Increase
Payout Ratio EPS 56.83% 54.51% Estimates Payout Ratio EPS
Pre-split 2006
Special Dividend $0.06 $0.09 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 <-Median-> 10 Special Dividends
Pre-split 2006
Dividend* $1.36 $0.96 $1.04 $1.12 $1.16 $1.20 $1.24 $1.28 $1.28 $1.32 $1.38 $1.46 $1.49 $1.54 $1.56 $1.56 43.27% <-Total Growth 10 Dividends
Increase 3.03% -29.41% 8.33% 7.69% 3.57% 3.45% 3.33% 3.23% 0.00% 3.13% 4.55% 5.80% 2.05% 3.36% 1.30% 0.00% 25 1 34 Years of data, Count P, N 73.53%
Average Increases 5 Year Running 17.37% 5.95% 1.87% -1.45% -1.36% -1.27% 5.28% 4.25% 2.72% 2.63% 2.85% 3.34% 3.10% 3.78% 3.41% 2.50% 2.78% <-Median-> 10 Average Incr 5 Year Running
Dividends 5 Yr Running $1.23 $1.26 $1.24 $1.19 $1.16 $1.11 $1.15 $1.20 $1.23 $1.26 $1.30 $1.34 $1.39 $1.44 $1.49 $1.52 12.14% <-Total Growth 10 Dividends 5 Yr Running
Yield H/L Price 7.09% 5.14% 4.82% 4.49% 4.75% 4.53% 4.36% 4.12% 4.36% 4.35% 5.16% 4.33% 4.15% 4.38% 4.36% <-Median-> 10 Yield H/L Price
Yield on High  Price 6.05% 4.27% 4.41% 4.11% 4.37% 4.06% 3.79% 3.83% 3.99% 4.00% 3.75% 3.93% 3.73% 3.82% 3.96% <-Median-> 10 Yield on High  Price
Yield on Low Price 8.08% 5.71% 5.31% 4.96% 5.21% 5.11% 5.12% 4.47% 4.80% 4.78% 8.31% 4.82% 4.66% 5.15% 4.89% <-Median-> 10 Yield on Low Price
Yield on Close Price 6.73% 5.41% 4.49% 4.41% 4.37% 3.93% 4.23% 4.39% 4.11% 4.79% 3.90% 4.17% 4.11% 4.28% 4.33% 4.33% 4.20% <-Median-> 10 Yield on Close Price
Payout Ratio EPS 89.87% 88.24% 77.61% 84.85% 89.92% 83.92% 78.98% 94.12% 72.32% 78.57% 48.94% 46.20% 59.36% 56.83% 54.17% 49.84% 78.78% <-Median-> 10 DPR EPS
DPR EPS 5 Yr Running 84.59% 85.83% 83.97% 83.57% 86.16% 84.78% 82.88% 86.08% 83.02% 80.92% 70.65% 62.28% 58.04% 55.82% 52.77% 52.88% 82.95% <-Median-> 10 DPR EPS 5 Yr Running
Payout Ratio CFPS 61.94% 44.30% 39.01% 67.77% 48.48% 43.78% 47.76% 44.07% 49.09% 39.94% 19.81% 31.19% 38.91% 27.65% 29.43% #DIV/0! 43.93% <-Median-> 10 DPR CF
DPR CF 5 Yr Running 61.37% 58.84% 54.10% 53.06% 50.91% 47.12% 47.81% 48.83% 46.52% 44.65% 35.36% 32.84% 32.40% 29.52% 28.20% #DIV/0! 46.82% <-Median-> 10 DPR CF 5 Yr Running
Payout Ratio CFPS WC 61.88% 40.68% 37.65% 38.07% 40.27% 36.91% 34.94% 35.54% 35.79% 29.66% 23.41% 23.83% 25.31% 27.65% 39.00% #DIV/0! 35.24% <-Median-> 10 DPR CF WC
DPR CF WC 5 Yr Running 58.97% 55.23% 50.51% 45.94% 43.01% 38.63% 37.44% 36.98% 36.54% 34.30% 30.85% 28.42% 26.72% 25.75% 27.04% #DIV/0! 36.76% <-Median-> 10 DPR CF WC 5 Yr Running
Median Values 10 Yr Med 10 Yr Cl 4.36% 4.20% 5 Yr Med 5 Yr Cl 4.35% 4.11% 5 Yr Med Payout 59.36% 38.91% 25.31% 3.08% <-IRR #YR-> 5 Dividends 16.41%
* Dividends per share  10 Yr Med and Cur. -0.59% 3.11% 5 Yr Med and Cur. -0.50% 5.34% Last Div Inc ---> $0.38 $0.39 2.63% 3.66% <-IRR #YR-> 10 Dividends 43.27%
Dividends Growth 15 2.49% <-IRR #YR-> 15 Dividends 44.66%
Dividends Growth 20 5.61% <-IRR #YR-> 20 Dividends 198.00%
Dividends Growth 25 10.19% <-IRR #YR-> 25 Dividends 1031.65%
Dividends Growth 30 8.76% <-IRR #YR-> 30 Dividends
Dividends Growth 35 8.27% <-IRR #YR-> 34 Dividends
Dividends Growth 5 -$1.28 $0.00 $0.00 $0.00 $0.00 $1.49 Dividends Growth 5
Dividends Growth 10 -$1.04 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.49 Dividends Growth 10
Dividends Growth 15 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.49 Dividends Growth 15
Dividends Growth 20 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.49 Dividends Growth 20
Dividends Growth 25 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.49 Dividends Growth 25
Dividends Growth 30 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.49 Dividends Growth 30
Dividends Growth 35 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.49 Dividends Growth 35
Historical Dividends Historical High Div 11.09% Low Div 2.21% 10 Yr High 8.00% 10 Yr Low 3.73% Med Div 4.75% Close Div 4.57% 4.42% Div since 2011 Historical Dividends
High/Ave/Median Values Curr diff Exp. -60.95%     95.97% Exp. -45.86% 16.11% Exp. -8.82% Exp. -5.25% -2.02% Exp. High/Ave/Median 
Future Dividend Yield Div Yield 5.04% earning in 5 Years at IRR of 3.08% Div Inc. 16.41% Future Dividend Yield
Future Dividend Yield Div Yield 5.87% earning in 10 Years at IRR of 3.08% Div Inc. 35.50% Future Dividend Yield
Future Dividend Yield Div Yield 6.83% earning in 15 Years at IRR of 3.08% Div Inc. 57.74% Future Dividend Yield
Future Dividend Paid Div Paid $1.82 earning in 5 Years at IRR of 3.08% Div Inc. 16.41% Future Dividend Paid
Future Dividend Paid Div Paid $2.11 earning in 10 Years at IRR of 3.08% Div Inc. 35.50% Future Dividend Paid
Future Dividend Paid Div Paid $2.46 earning in 15 Years at IRR of 3.08% Div Inc. 57.74% Future Dividend Paid
Dividend Covering Cost Total Div $8.30 over 5 Years at IRR of 3.08% Div Cov. 23.03% Dividend Covering Cost
Dividend Covering Cost Total Div $16.14 over 10 Years at IRR of 3.08% Div Cov. 44.80% Dividend Covering Cost
Dividend Covering Cost Total Div $25.27 over 15 Years at IRR of 3.08% Div Cov. 70.14% Dividend Covering Cost
Yield if held 5 years 12.53% 6.59% 5.52% 6.79% 6.74% 5.99% 6.07% 5.93% 5.13% 5.41% 5.20% 5.13% 4.80% 5.24% 5.14% 5.84% 5.67% <-Median-> 10 Paid Median Price
Yield if held 10 years 35.79% 19.04% 16.43% 14.49% 12.95% 11.05% 8.51% 6.79% 7.76% 7.67% 6.89% 7.14% 6.90% 6.17% 6.39% 5.88% 7.72% <-Median-> 10 Paid Median Price
Yield if held 15 years 41.32% 31.56% 23.47% 23.98% 25.59% 31.58% 24.60% 20.22% 16.56% 14.73% 12.71% 10.02% 7.91% 9.34% 9.07% 7.79% 18.39% <-Median-> 10 Paid Median Price
Yield if held 20 years 45.97% 26.03% 21.24% 19.20% 25.08% 36.46% 40.77% 28.88% 27.41% 29.12% 36.32% 28.96% 23.54% 19.93% 17.41% 14.37% 28.92% <-Median-> 10 Paid Median Price
Yield if held 25 years 40.56% 33.62% 26.14% 21.94% 28.54% 41.92% 48.00% 33.62% 32.98% 34.41% 41.05% 33.62% <-Median-> 8 Paid Median Price
Yield if held 30 years 46.65% 39.58% 30.43% 26.40% 33.73% 47.39% 39.58% <-Median-> 3 Paid Median Price
Cost covered if held 5 years 56.58% 43.18% 32.79% 36.07% 33.66% 27.82% 28.18% 27.78% 24.70% 25.89% 24.51% 23.62% 22.33% 24.46% 24.50% 28.48% 26.84% <-Median-> 10 Paid Median Price Item
Cost covered if held 10 years 237.01% 189.85% 159.42% 136.88% 124.31% 107.89% 82.71% 64.63% 73.42% 70.41% 60.27% 61.06% 59.87% 53.53% 56.33% 53.22% 71.91% <-Median-> 10 Paid Median Price EPS
Cost covered if held 15 years 282.2% 2.82152 282.15% 282.15% 305.66% 383.59% 304.10% 254.21% 216.58% 194.85% 167.77% 128.84% 101.41% 117.01% 113.60% 98.28% 235.40% <-Median-> 10 Paid Median Price AEPS
Cost covered if held 20 years 380.50% 330.77% 267.98% 242.05% 327.53% 492.65% 569.58% 416.84% 414.06% 445.07% 554.64% 437.39% 363.69% 309.62% 277.77% 237.88% 427.11% <-Median-> 10 Paid Median Price CFPS
Cost covered if held 25 years 568.78% 486.94% 390.53% 347.65% 464.18% 690.12% 790.52% 573.22% 568.02% 608.97% 754.91% 527.86% <-Median-> 8 Paid Median Price FCF 
Cost covered if held 30 years 788.50% 669.13% 532.08% 470.91% 624.83% 921.31% 669.13% <-Median-> 3 Paid Median Price
Yr  Item Tot. Growth
Revenue Growth  $1,953.7 $2,013.5 $2,094.4 $2,359.2 $2,248.8 $2,352.8 $2,433.5 <-12 mths 3.43% 20.42% <-Total Growth 5 Revenue Growth  20.42%
AEPS Growth $1.70 $1.66 $1.53 $2.92 $3.06 $2.72 $2.75 <-12 mths 0.95% 59.73% <-Total Growth 5 AEPS Growth 59.73%
Net Income Growth $67.2 $86.7 $82.7 $139.9 $154.8 $122.2 $121.1 <-12 mths -0.90% 81.95% <-Total Growth 5 Net Income Growth 81.95%
Cash Flow Growth $141.4 $127.1 $161.1 $338.7 $224.1 $182.8 $214.3 <-12 mths 17.21% 29.29% <-Total Growth 5 Cash Flow Growth 29.29%
Dividend Growth $1.28 $1.28 $1.32 $1.38 $1.46 $1.49 $1.54 <-12 mths 3.36% 16.41% <-Total Growth 5 Dividend Growth 16.41%
Stock Price Growth $29.14 $31.17 $27.58 $35.37 $35.05 $36.24 $36.02 <-12 mths -0.61% 24.37% <-Total Growth 5 Stock Price Growth 24.37%
Revenue Growth  $1,513.6 $1,543.1 $1,624.4 $1,796.0 $1,844.1 $1,953.7 $2,013.5 $2,094.4 $2,359.2 $2,248.8 $2,352.8 $2,433.5 <-12 mths 3.43% 55.44% <-Total Growth 10 Revenue Growth  55.44%
AEPS Growth $1.34 $1.32 $1.29 $1.54 $1.63 $1.70 $1.66 $1.53 $2.92 $3.06 $2.72 $2.75 <-12 mths 0.95% 102.99% <-Total Growth 10 AEPS Growth 102.99%
Net Income Growth $65.1 $64.3 $62.9 $69.8 $77.1 $67.2 $86.7 $82.7 $139.9 $154.8 $122.2 $121.1 <-12 mths -0.90% 87.56% <-Total Growth 10 Net Income Growth 87.56%
Cash Flow Growth $129.0 $80.0 $116.0 $133.0 $126.0 $141.4 $127.1 $161.1 $338.7 $224.1 $182.8 $214.3 <-12 mths 17.21% 41.74% <-Total Growth 10 Cash Flow Growth 41.74%
Dividend Growth $1.04 $1.12 $1.16 $1.20 $1.24 $1.28 $1.28 $1.32 $1.38 $1.46 $1.49 $1.5 <-12 mths 3.36% 43.27% <-Total Growth 10 Dividend Growth 43.27%
Stock Price Growth $23.14 $25.42 $26.56 $30.53 $29.28 $29.14 $31.17 $27.58 $35.37 $35.05 $36.24 $36.02 <-12 mths -0.61% 56.61% <-Total Growth 10 Stock Price Growth 56.61%
Dividends on Shares $50.40 $52.20 $54.00 $55.80 $57.60 $57.60 $59.40 $62.10 $65.70 $67.05 $69.30 $70.20 $70.20 $581.85 No of Years 10 Total Divs 12/31/12
Paid  $1,007.55 $1,158.30 $1,179.00 $1,290.15 $1,238.40 $1,353.15 $1,413.90 $1,229.85 $1,459.80 $1,540.80 $1,600.65 $1,620.90 $1,620.90 $1,620.90 $1,600.65 No of Years 10 Worth $22.39
Total $2,182.50
Graham No. AEPS $14.91 $12.53 $13.59 $14.06 $14.04 $15.99 $16.65 $17.06 $17.70 $17.08 $25.79 $28.47 $28.40 $28.82 $29.28 $0.00 109.02% <-Total Growth 10 Graham Price AEPS
Price/GP Ratio Med 1.34 1.63 1.59 1.77 1.74 1.66 1.71 1.82 1.66 1.78 1.04 1.18 1.27 1.22 1.68 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Hi 1.51 1.80 1.74 1.94 1.89 1.85 1.97 1.96 1.81 1.93 1.43 1.31 1.41 1.40 1.87 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 1.18 1.47 1.44 1.61 1.59 1.47 1.45 1.68 1.51 1.62 0.64 1.06 1.12 1.04 1.49 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Cl 1.41 1.55 1.70 1.81 1.89 1.91 1.76 1.71 1.76 1.62 1.37 1.23 1.28 1.25 1.23 #DIV/0! 1.73 <-Median-> 10 Price/GP Ratio
Prem/Disc CL 41.46% 54.82% 70.32% 80.76% 89.20% 90.97% 75.90% 70.79% 76.08% 61.50% 37.16% 23.11% 27.61% 25.00% 23.01% #DIV/0! 73.34% <-Median-> 10 Graham Price
Graham No. ESP $14.91 $12.53 $13.59 $14.06 $14.04 $15.40 $16.36 $15.25 $18.27 $17.91 $25.32 $28.93 $27.28 $28.55 $29.44 $30.69 100.79% <-Total Growth 10 Graham Price EPS
Price/GP Ratio Med 1.34 1.63 1.59 1.77 1.74 1.72 1.74 2.04 1.61 1.69 1.06 1.17 1.32 1.23 1.71 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Hi 1.51 1.80 1.74 1.94 1.89 1.92 2.00 2.19 1.76 1.84 1.45 1.28 1.46 1.41 1.87 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 1.18 1.47 1.44 1.61 1.59 1.53 1.48 1.88 1.46 1.54 0.66 1.05 1.17 1.05 1.50 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Cl 1.41 1.55 1.70 1.81 1.89 1.98 1.79 1.91 1.71 1.54 1.40 1.21 1.33 1.26 1.22 1.17 1.75 <-Median-> 10 Price/GP Ratio
Prem/Disc CL 41.46% 54.82% 70.32% 80.76% 89.20% 98.26% 78.98% 91.11% 70.62% 53.95% 39.68% 21.15% 32.85% 26.15% 22.37% 17.38% 74.80% <-Median-> 10 Graham Price
Month Year Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Dec-25 32.00 <Count Years> Month, Year
pre-split '06
Price Close $20.62 $20.15 $22.39 $25.74 $26.20 $28.67 $27.52 $30.07 $31.42 $27.33 $32.44 $34.24 $35.57 $36.02 $36.02 $36.02 58.87% <-Total Growth 10 Stock Price
Increase 8.53% -2.28% 11.12% 14.96% 1.79% 9.43% -4.01% 9.27% 4.49% -13.02% 18.70% 5.55% 3.88% 1.27% 0.00% 0.00% 16.90 <-Median-> 10 CAPE (10 Yr P/E)
P/E 13.05 16.93 16.71 19.50 20.31 20.05 17.53 22.11 17.75 16.27 11.50 10.84 14.17 13.29 12.51 11.51 3.42% <-IRR #YR-> 5 Stock Price 18.29%
Trailing P/E 12.20 12.75 18.82 19.21 19.85 22.22 19.24 19.15 23.10 15.44 19.31 12.14 11.26 14.35 13.29 12.51 4.74% <-IRR #YR-> 10 Stock Price 58.87%
CAPE (10 Yr P/E) 12.26 12.97 13.57 14.32 15.01 15.63 15.97 16.56 17.32 17.90 17.24 19.30 18.81 17.74 16.46 15.27 7.72% <-IRR #YR-> 5 Price & Dividend 41.34%
Median 10, 5 Yrs D.  per yr 4.70% 4.30% % Tot Ret 49.81% 55.73% T P/E 19.23 15.44 P/E:  17.64 14.17 9.44% <-IRR #YR-> 10 Price & Dividend 116.61%
Price 15 D.  per yr 4.89% % Tot Ret 57.63% CAPE Diff -21.35% 3.60% <-IRR #YR-> 15 Stock Price 69.95%
Price  20 D.  per yr 8.53% % Tot Ret 50.04% 8.52% <-IRR #YR-> 20 Stock Price 413.03%
Price  25 D.  per yr 9.76% % Tot Ret 51.42% 9.22% <-IRR #YR-> 25 Stock Price 806.63%
Price  30 D.  per yr 5.28% % Tot Ret 43.99% 6.73% <-IRR #YR-> 30 Stock Price
Price  35 D.  per yr 8.04% % Tot Ret 45.50% 9.62% <-IRR #YR-> 32 Stock Price
Price & Dividend 15 8.49% <-IRR #YR-> 15 Price & Dividend 161.25%
Price & Dividend 20 17.05% <-IRR #YR-> 20 Price & Dividend 745.07%
Price & Dividend 25 18.98% <-IRR #YR-> 25 Price & Dividend 1454.12%
Price & Dividend 30 12.01% <-IRR #YR-> 30 Price & Dividend
Price & Dividend 35 17.66% <-IRR #YR-> 32 Price & Dividend
Price  5 -$30.07 $0.00 $0.00 $0.00 $0.00 $35.57 Price  5
Price 10 -$22.39 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $35.57 Price 10
Price & Dividend 5 -$30.07 $1.28 $1.32 $1.38 $1.46 $37.06 Price & Dividend 5
Price & Dividend 10 -$22.39 $1.12 $1.16 $1.20 $1.24 $1.28 $1.28 $1.32 $1.38 $1.46 $37.06 Price & Dividend 10
Price 15 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $35.57 Price 15
Price  20 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $35.57 Price  20
Price  25 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $35.57 Price  25
Price  30 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $35.57 Price  30
Price  35 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $35.57 Price  35
Price & Dividend 15 $1.42 $1.05 $1.04 $1.12 $1.16 $1.20 $1.24 $1.28 $1.28 $1.32 $1.38 $1.46 $37.06 Price & Dividend 15
Price & Dividend 20 $1.42 $1.05 $1.04 $1.12 $1.16 $1.20 $1.24 $1.28 $1.28 $1.32 $1.38 $1.46 $37.06 Price & Dividend 20
Price & Dividend 25 $1.42 $1.05 $1.04 $1.12 $1.16 $1.20 $1.24 $1.28 $1.28 $1.32 $1.38 $1.46 $37.06 Price & Dividend 25
Month Year Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 Jan-22 Jan-23 Jan-24 Jan-25 Jan-26 31.00 <Count Years> Month, Year
pre-split '06
Price Close $21.09 $19.40 $23.14 $25.42 $26.56 $30.53 $29.28 $29.14 $31.17 $27.58 $35.37 $35.05 $36.24 $36.02 $36.02 $36.02 56.61% <-Total Growth 10 Stock Price
Increase 17.56% -8.01% 19.28% 9.85% 4.48% 14.95% -4.09% -0.48% 6.97% -11.52% 28.25% -0.90% 3.40% -0.61% 0.00% 0.00% 4.46% <-IRR #YR-> 5 Stock Price 24.37%
P/E 13.35 16.30 17.27 19.26 20.59 21.35 18.65 21.43 17.61 16.42 12.54 11.09 14.44 13.29 12.51 11.51 4.59% <-IRR #YR-> 10 Stock Price 56.61%
Trailing P/E 12.48 12.28 19.45 18.97 20.12 23.67 20.48 18.56 22.92 15.58 21.05 12.43 11.47 14.35 13.29 12.51 8.81% <-IRR #YR-> 5 Price & Dividend 112.49%
Median 10, 5 Yrs D.  per yr 4.58% 4.35% % Tot Ret 49.93% 49.41% T P/E 19.55 15.58 P/E:  18.13 14.44 9.16% <-IRR #YR-> 10 Price & Dividend 48.15%
Price 15 D.  per yr 5.28% % Tot Ret 53.37% 4.61% <-IRR #YR-> 15 Stock Price 96.74%
Price  20 D.  per yr 8.51% % Tot Ret 49.60% 8.65% <-IRR #YR-> 20 Stock Price 425.22%
Price  25 D.  per yr 8.10% % Tot Ret 49.55% 8.25% <-IRR #YR-> 25 Stock Price 624.80%
Price  30 D.  per yr 4.90% % Tot Ret 43.61% 6.33% <-IRR #YR-> 30 Stock Price
Price  35 D.  per yr 5.11% % Tot Ret 42.21% 6.99% <-IRR #YR-> 32 Stock Price
Price & Dividend 15 9.90% <-IRR #YR-> 15 Price & Dividend 200.49%
Price & Dividend 20 17.16% <-IRR #YR-> 20 Price & Dividend 758.86%
Price & Dividend 25 16.34% <-IRR #YR-> 25 Price & Dividend 1132.86%
Price & Dividend 30 11.22% <-IRR #YR-> 30 Price & Dividend
Price & Dividend 35 12.10% <-IRR #YR-> 32 Price & Dividend
Price  5 -$29.14 $0.00 $0.00 $0.00 $0.00 $36.24 Price  5
Price 10 -$23.14 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $36.24 Price 10
Price & Dividend 5 -$29.14 $1.28 $1.32 $1.38 $1.46 $37.73 Price & Dividend 5
Price & Dividend 10 -$23.14 $1.12 $1.16 $1.20 $1.24 $1.28 $1.28 $1.32 $1.38 $1.46 $37.73 Price & Dividend 10
Price 15 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $36.24 Price 15
Price  20 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $36.24 Price  20
Price  25 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $36.24 Price  25
Price  30 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $36.24 Price  30
Price  35 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $36.24 Price  35
Price & Dividend 15 $1.42 $1.05 $1.04 $1.12 $1.16 $1.20 $1.24 $1.28 $1.28 $1.32 $1.38 $1.46 $37.73 Price & Dividend 15
Price & Dividend 20 $1.42 $1.05 $1.04 $1.12 $1.16 $1.20 $1.24 $1.28 $1.28 $1.32 $1.38 $1.46 $37.73 Price & Dividend 20
Price & Dividend 25 $1.42 $1.05 $1.04 $1.12 $1.16 $1.20 $1.24 $1.28 $1.28 $1.32 $1.38 $1.46 $37.73 Price & Dividend 25
Price & Dividend 30 $1.42 $1.05 $1.04 $1.12 $1.16 $1.20 $1.24 $1.28 $1.28 $1.32 $1.38 $1.46 $37.73 Price & Dividend 30
Price & Dividend 35 $1.42 $1.05 $1.04 $1.12 $1.16 $1.20 $1.24 $1.28 $1.28 $1.32 $1.38 $1.46 $37.73 Price & Dividend 35
Price Median H/L $20.03 $20.44 $21.60 $24.94 $24.41 $26.52 $28.46 $31.04 $29.39 $30.33 $26.73 $33.73 $35.93 $35.12 66.38% <-Total Growth 10 Stock Price
Increase 16.42% 2.07% 5.65% 15.49% -2.13% 8.62% 7.32% 9.07% -5.30% 3.18% -11.87% 26.21% 6.52% -2.25% 5.22% <-IRR #YR-> 10 Stock Price 66.38%
P/E 12.67 17.18 16.12 18.89 18.92 18.54 18.12 22.82 16.60 18.05 9.48 10.67 14.31 12.96 2.97% <-IRR #YR-> 5 Stock Price 15.77%
Trailing P/E 11.85 12.94 18.15 18.61 18.49 20.55 19.90 19.77 21.61 17.13 15.91 11.96 11.37 13.99 10.01% <-IRR #YR-> 10 Price & Dividend
P/E on Run. 5 yr Ave 13.79 13.94 14.67 17.51 18.16 20.18 20.47 22.26 19.80 19.41 14.52 15.63 15.05 13.63 7.17% <-IRR #YR-> 5 Price & Dividend
P/E on Run. 10 yr Ave 18.16 17.67 17.71 19.53 18.37 19.17 19.93 21.66 20.21 20.87 16.95 19.01 19.00 17.30 12.82 P/E Ratio Historical Median
Median 10, 5 Yrs D.  per yr 4.79% 4.20% % Tot Ret 47.82% 58.57% T P/E 18.55 15.91 P/E:  18.09 14.31 Count 32 Years of data
-$21.60 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $35.93
-$31.04 $0.00 $0.00 $0.00 $0.00 $35.93
-$21.60 $1.12 $1.16 $1.20 $1.24 $1.28 $1.28 $1.32 $1.38 $1.46 $37.42
-$31.04 $1.28 $1.32 $1.38 $1.46 $37.42
High Months Nov 10 Feb 11 Dec 12 Nov 13 Jan 15 Oct 15 Feb 16 May 17 Jan 18 Mar 19 Sep 20 Dec 21 Apr 22 Apr 23
pre-split '06
Price High $22.48 $22.50 $23.59 $27.28 $26.56 $29.54 $32.71 $33.41 $32.11 $33.03 $36.84 $37.17 $39.92 $40.35 69.22% <-Total Growth 10 Stock Price
Increase 16.18% 0.09% 4.84% 15.64% -2.64% 11.22% 10.73% 2.14% -3.89% 2.87% 11.53% 0.90% 7.40% 1.08% 5.40% <-IRR #YR-> 10 Stock Price 69.22%
P/E 14.23 18.91 17.60 20.67 20.59 20.66 20.83 24.57 18.14 19.66 13.06 11.76 15.90 14.89 3.62% <-IRR #YR-> 5 Stock Price 19.49%
Trailing P/E 13.30 14.24 19.82 20.36 20.12 22.90 22.87 21.28 23.61 18.66 21.93 13.18 12.63 16.08 15.19 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 20.82 18.66 P/E:  20.12 15.90 19.33 P/E Ratio Historical High
-$23.59 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $39.92
-$33.41 $0.00 $0.00 $0.00 $0.00 $39.92
Low Months May 10 Oct 11 Feb12 Apr 13 Sep 14 Jun 15 Nov 16 Jan 18 Mar 18 Jan 20 Mar 20 Feb 21 Sep 22 Sep 23
Price Low $17.57 $18.38 $19.60 $22.60 $22.26 $23.49 $24.20 $28.66 $26.67 $27.62 $16.61 $30.29 $31.94 $29.89 62.96% <-Total Growth 10 Stock Price
Increase 16.74% 4.61% 6.64% 15.31% -1.50% 5.53% 3.02% 18.43% -6.94% 3.56% -39.86% 82.36% 5.45% -6.42% 5.00% <-IRR #YR-> 10 Stock Price 62.96%
P/E 11.12 15.45 14.63 17.12 17.26 16.43 15.41 21.07 15.07 16.44 5.89 9.59 12.73 11.03 2.19% <-IRR #YR-> 5 Stock Price 11.44%
Trailing P/E 10.40 11.63 16.47 16.87 16.86 18.21 16.92 18.25 19.61 15.60 9.89 10.74 10.11 11.91 9.97 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 16.86 10.74 P/E:  15.92 12.73 6.34 P/E Ratio Historical Low
-$19.60 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $31.94
-$28.66 $0.00 $0.00 $0.00 $0.00 $31.94
$155 <-12 mths 19.55%
Free Cash Flow MS $79 $69.00 $77.86 $36.83 $62.76 $57.00 $48.28 $19.38 $52.51 $39.51 $263.47 $130.00 $88 $132 $130 88.41% <-Total Growth 10 Free Cash Flow
Change -12.66% 12.84% -52.70% 70.40% -9.18% -15.30% -59.86% 170.95% -24.76% 566.84% -50.66% -32.46% 50.34% -1.52% 21.91% <-IRR #YR-> 5 Free Cash Flow MS 169.26%
FCF/CF from Op Ratio 0.69 0.53 0.97 0.32 0.47 0.45 0.34 0.15 0.33 0.12 1.18 0.71 0.33 0.69 #DIV/0! 5.86% <-IRR #YR-> 9 Free Cash Flow MS 88.41%
Dividends paid $50.80 $50.32 $54.23 $56.18 $58.21 $60.17 $62.32 $62.33 $64.35 $67.28 $67.28 $67.28 $73.54 $74.49 $74.49 33.70% <-Total Growth 10 Dividends paid
Percentage paid 92.75% 105.56% 129.07% 321.62% 122.55% 170.28% 25.53% 51.75% 83.75% 56.43% 57.30% 114.05% <-Median-> 8 Percentage paid
5 Year Covrage 128.11% 146.04% 76.46% 65.07% 59.26% 53.59% 48.04% 102.29% <-Median-> 4 5 Year Covrage
Dividend Coverage Ratio 1.08 0.95 0.77 0.31 0.82 0.59 3.92 1.93 1.19 1.77 1.75 0.88 <-Median-> 8 Dividend Coverage Ratio
5 Year of Covereage 0.78 0.68 1.31 1.54 1.69 1.87 2.08 1.04 <-Median-> 4 5 Year of Coverage
-$48.28 $0.00 $0.00 $0.00 $0.00 $130.00
-$77.86 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $130.00
Free Cash Flow WSJ $64.65 $53.82 $20.29 $21.63 $34.73 $259.55 $127.85 $59.37 $88 $132 $130 10.31% <-Total Growth 7 Free Cash Flow WSJ All Disagree
Change -16.76% -62.30% 6.62% 60.56% 647.34% -50.74% -53.57% 47.90% 50.34% -1.52% 23.95% <-IRR #YR-> 5 Free Cash Flow MS 192.62%
FCF/CF from Op Ratio 0.49 0.43 0.14 0.17 0.22 0.77 0.57 0.32 0.33 0.69 #DIV/0! -1.21% <-IRR #YR-> 7 Free Cash Flow MS #DIV/0!
Dividends paid $58.21 $60.17 $62.32 $62.33 $64.35 $67.28 $67.28 $67.28 $73.54 $74.49 $74.49 11.81% <-Total Growth 7 Dividends paid
Percentage paid 90.04% 111.81% 307.15% 288.15% 185.29% 25.92% 52.62% 113.32% 83.75% 56.43% 57.30% 112.56% <-Median-> 8 Percentage paid
5 Year Covrage 90.04% 99.93% 130.23% 151.53% 157.54% 81.14% 69.72% 65.29% 59.67% 52.49% 66.49% 94.98% <-Median-> 8 5 Year Covrage
Dividend Coverage Ratio 1.11 0.89 0.33 0.35 0.54 3.86 1.90 0.88 1.19 1.77 1.75 0.89 <-Median-> 8 Dividend Coverage Ratio
5 Year of Covereage 1.11 1.00 0.77 0.66 0.63 1.23 1.43 1.53 1.68 1.91 1.50 1.06 <-Median-> 8 5 Year of Coverage
-$20.29 $0.00 $0.00 $0.00 $0.00 $59.37
-$64.65 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $59.37
Market Cap $1,020 $939 $1,120 $1,231 $1,288 $1,481 $1,421 $1,419 $1,520 $1,345 $1,719 $1,678 $1,730 $1,720 $1,720 $1,720 54.55% <-Total Growth 10 Market Cap
Diluted # of Shares in Million 48.51 48.53 48.58 48.66 48.71 48.78 48.96 49.68 49.14 49.38 49.53 49.03 48.65 49.23 0.14% <-Total Growth 10 Diluted
Change 0.10% 0.03% 0.11% 0.16% 0.11% 0.15% 0.37% 1.46% -1.08% 0.47% 0.31% -0.99% -0.79% 1.19% 0.16% <-Median-> 10 Change
Difference Diluted/Basic -0.7% -0.3% -0.4% -0.5% -0.6% -0.6% -0.9% -0.8% -0.9% -1.3% -1.6% -1.6% -2.1% -1.6% -0.90% <-Median-> 10 Difference Diluted/Basic
Share based compensation
Pre-split 2006
Basic # of Shares in Millions 48.18 48.38 48.38 48.41 48.43 48.51 48.52 49.28 48.70 48.75 48.76 48.27 47.65 48.45 -1.52% <-Total Growth 10 Average
Change 0.79% 0.41% 0.01% 0.06% 0.04% 0.16% 0.03% 1.55% -1.17% 0.11% 0.01% -1.00% -1.28% 1.69% 0.04% <-Median-> 10 Change
Difference Basic/Outstanding 0.4% 0.0% 0.0% 0.0% 0.1% 0.0% 0.0% -1.2% 0.1% 0.0% -0.3% -0.8% 0.2% -1.4% 0.03% <-Median-> 10 Difference Basic/Outstanding
$214.31 <-12 mths 17.21%
Pre-split 2006
Variable Voting shares  12.56 12.30 11.36 16.38 14.97 16.14 16.14 16.14 16.14 33.80% Percent of Variable Voting shares  Search for
Common Voting Shares 36.13 36.45 37.39 32.23 32.91 31.61 31.61 31.61 31.61 66.20% Percent of Common Voting Shares
# of Share in Millions 48.38 48.38 48.39 48.43 48.50 48.52 48.54 48.69 48.75 48.75 48.61 47.88 47.75 47.75 47.75 47.75 -0.13% <-IRR #YR-> 10 Shares -1.32%
Change 0.00% 0.00% 0.02% 0.08% 0.15% 0.05% 0.04% 0.30% 0.12% 0.00% -0.28% -1.51% -0.27% 0.00% 0.00% 0.00% -0.39% <-IRR #YR-> 5 Shares -1.93%
Cash Flow from Operations $M $110.9 $114.7 $129.0 $80.0 $116.0 $133.0 $126.0 $141.4 $127.1 $161.1 $338.7 $224.1 $182.8 $266.0 $191.0 41.74% <-Total Growth 10 Cash Flow
Increase 2.72% 3.38% 12.50% -37.95% 44.98% 14.61% -5.24% 12.22% -10.11% 26.74% 110.23% -33.83% -18.43% 45.47% -28.19% SO
5 year Running Average $96.8 $103.5 $110.5 $108.5 $110.1 $114.5 $116.8 $119.3 $128.7 $137.7 $178.9 $198.5 $206.8 $234.6 $240.5 87.06% <-Total Growth 10 CF 5 Yr Running
CFPS $2.29 $2.37 $2.67 $1.65 $2.39 $2.74 $2.60 $2.90 $2.61 $3.30 $6.97 $4.68 $3.83 $5.57 $5.30 43.64% <-Total Growth 10 Cash Flow per Share
Increase 2.72% 3.38% 12.48% -38.00% 44.77% 14.54% -5.27% 11.88% -10.22% 26.74% 110.83% -32.81% -18.21% 45.47% -4.85% 3.55% <-IRR #YR-> 10 Cash Flow 41.74%
5 year Running Average $2.00 $2.14 $2.28 $2.24 $2.27 $2.36 $2.41 $2.46 $2.65 $2.83 $3.68 $4.09 $4.28 $4.87 $5.27 5.27% <-IRR #YR-> 5 Cash Flow 29.29%
P/CF on Med Price 8.73 8.62 8.10 15.09 10.20 9.67 10.96 10.69 11.27 9.18 3.84 7.21 9.38 6.31 0.00 3.69% <-IRR #YR-> 10 Cash Flow per Share 43.64%
P/CF on Closing Price 9.20 8.19 8.68 15.38 11.10 11.14 11.28 10.03 11.95 8.35 5.08 7.49 9.46 6.47 6.80 5.68% <-IRR #YR-> 5 Cash Flow per Share 31.83%
-34.93% Diff M/C 6.47% <-IRR #YR-> 10 CFPS 5 yr Running 87.24%
$309.57 <-12 mths 10.14%
Excl.Working Capital CF $0.10 $10.22 $4.68 $62.44 $23.66 $24.76 $46.23 $33.94 $47.24 $55.82 -$52.17 $69.22 $98.24 $0.00 $0.00 11.73% <-IRR #YR-> 5 CFPS 5 yr Running 74.09%
CF fr Op $M WC $111.0 $124.9 $133.7 $142.5 $139.7 $157.7 $172.3 $175.4 $174.4 $216.9 $286.5 $293.4 $281.1 $266.0 $191.0 110.27% <-Total Growth 10 Cash Flow less WC
Increase -3.18% 12.50% 7.04% 6.58% -1.95% 12.92% 9.20% 1.80% -0.57% 24.42% 32.09% 2.38% -4.18% -5.37% -28.19% 7.72% <-IRR #YR-> 10 Cash Flow less WC 110.27%
5 year Running Average $100.8 $110.2 $118.4 $125.3 $130.3 $139.7 $149.2 $157.5 $163.9 $179.3 $205.1 $229.3 $250.5 $268.8 $263.6 9.90% <-IRR #YR-> 5 Cash Flow less WC 60.28%
CFPS Excl. WC $2.29 $2.58 $2.76 $2.94 $2.88 $3.25 $3.55 $3.60 $3.58 $4.45 $5.89 $6.13 $5.89 $5.57 $4.00 7.78% <-IRR #YR-> 10 CF less WC 5 Yr Run 111.55%
Increase -3.18% 12.50% 7.02% 6.50% -2.10% 12.86% 9.16% 1.50% -0.70% 24.42% 32.46% 3.95% -3.93% -5.37% -28.19% 9.72% <-IRR #YR-> 5 CF less WC 5 Yr Run 59.01%
5 year Running Average $2.08 $2.28 $2.45 $2.59 $2.69 $2.88 $3.08 $3.24 $3.37 $3.69 $4.21 $4.73 $5.19 $5.59 $5.50 7.86% <-IRR #YR-> 10 CFPS - Less WC 113.08%
P/CF on Med Price 8.73 7.92 7.82 8.48 8.47 8.16 8.02 8.62 8.22 6.81 4.53 5.51 6.10 6.31 0.00 10.32% <-IRR #YR-> 5 CFPS - Less WC 63.44%
P/CF on High Price 9.80 8.72 8.54 9.27 9.22 9.09 9.22 9.28 8.98 7.42 6.25 6.07 6.78 7.24 0.00 9.03 <-Median-> 10 P/CF High Price
P/CF on Low Price 8.73 7.92 7.82 8.48 8.47 8.16 8.02 8.62 8.22 6.81 4.53 5.51 6.10 6.31 0.00 8.09 <-Median-> 10 P/CF Low Price
P/CF on Closing Price 9.19 7.52 8.38 8.64 9.22 9.39 8.25 8.09 8.72 6.20 6.00 5.72 6.16 6.47 9.01 7.80% <-IRR #YR-> 10 CFPS 5 yr Running 111.97%
*Operational Cash Flow per share CF/-WC P/CF Med 10 yr 9.94 5 yr  9.18 P/CF Med 10 yr 8.09 5 yr  6.10 -20.04% Diff M/C 9.84% <-IRR #YR-> 5 CFPS 5 yr Running 59.85%
-48.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47.8 Shares
-48.7 0.0 0.0 0.0 0.0 47.8 Shares
-$129.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $182.8 Cash Flow
-$141.4 $0.0 $0.0 $0.0 $0.0 $182.8 Cash Flow
-$2.67 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.83 Cash Flow per Share
-$2.90 $0.00 $0.00 $0.00 $0.00 $3.83 Cash Flow per Share
-$2.28 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.28 CFPS 5 yr Running
-$2.46 $0.00 $0.00 $0.00 $0.00 $4.28 CFPS 5 yr Running
-$133.7 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $281.1 Cash Flow less WC
-$175.4 $0.0 $0.0 $0.0 $0.0 $281.1 Cash Flow less WC
-$118.4 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $250.5 CF less WC 5 Yr Run
-$157.5 $0.0 $0.0 $0.0 $0.0 $250.5 CF less WC 5 Yr Run
-$2.76 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5.89 CFPS - Less WC
-$3.60 $0.00 $0.00 $0.00 $0.00 $5.89 CFPS - Less WC
-$2.45 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5.19 CFPS 5 yr Running
-$3.24 $0.00 $0.00 $0.00 $0.00 $5.19 CFPS 5 yr Running
Change in non-cash working capital -$0.1 -$4.0 $10.8 -$10.4 $9.2 $5.9 -$10.8 $2.3 -$20.8 -$28.670 $58.975 -$2.563 -$50.905
Change in other non-cash items -$7.234 $8.091 -$3.084 -$0.373
Taxes paid -$6.2 -$15.5 -$52.0 -$32.9 -$30.7 -$35.4 -$36.2 -$26.4 -$19.916 -$14.892 -$63.570 -$46.961
                         
Sum -$0.1 -$10.2 -$4.7 -$62.4 -$23.7 -$24.8 -$46.2 -$33.9 -$47.2 -$55.8 $52.2 -$69.2 -$98.2
Google --> TD Bank -$9.2 -$4.7 -$62.4 -$23.7 -$24.8 -$46.2 -$34 -$47 -$49 $52 -$69 -$98
Difference -$1.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0 $0 -$7 $0 $0 $0
TD Bank -$62 -$24 -$25 -$42 -$29 -$49.0 -$56.0
Difference $0 $0 $0 -$4 -$5 $2 $0
2021 2021 2021 2021 2021
OPM 7.66% 7.67% 8.52% 5.19% 7.14% 7.40% 6.83% 7.24% 6.31% 7.69% 14.36% 9.97% 7.77% 10.79% -8.81% <-Total Growth 10 OPM
Increase 2.46% 0.13% 11.13% -39.14% 37.73% 3.65% -7.71% 5.92% -12.78% 21.85% 86.63% -30.58% -22.03% 38.84% Should increase  or be stable.
Diff from Median 4.6% 4.7% 16.4% -29.2% -2.4% 1.1% -6.7% -1.1% -13.8% 5.1% 96.1% 36.1% 6.1% 47.4% 0.00 <-Median-> 10 OPM
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 7.32% 5 Yrs 7.69% should be  zero, it is a   check on calculations
$298 <-12 mths 1.99%
Adjusted EBITDA $156.76 $169.01 $178.85 $209.17 $204.96 $303.32 $305.11 $291.81 72.66% <-Total Growth 7 Adjusted EBITDA
Change 7.82% 5.83% 16.95% -2.02% 47.99% 0.59% -4.36% 5.83% <-Median-> 7 Change
Margin 8.73% 9.16% 9.15% 10.39% 9.79% 12.86% 13.57% 12.40% 10.09% <-Median-> 8 Margin
$282 <-12 mths 1.32%
EBITDA $125.88 $133.72 $138.34 $137.84 $151.35 $166.50 $169.62 $218.02 $219.58 $301.43 $311.38 $278.68 108.41% <-Total Growth 10 EBITDA
Change 6.22% 3.45% -0.36% 9.80% 10.01% 1.88% 28.53% 0.71% 37.28% 3.30% -10.50% 3.38% <-Median-> 10 Change
Margin 8.42% 8.83% 8.96% 8.49% 8.43% 9.03% 8.68% 10.83% 10.48% 12.78% 13.85% 11.84% 9.76% <-Median-> 10 Margin
Per Share Basic $2.60 $2.76 $2.86 $2.85 $3.12 $3.43 $3.48 $4.47 $4.50 $6.18 $6.45 $5.82 110.87% <-Total Growth 10 Per Share Basic
Per Share Diluted $2.60 $4.47 $4.47 $4.47 $4.47 $4.47 $4.47 $4.47 $4.50 $6.09 $6.35 $5.73 28.19% <-Total Growth 10 Per Share Diluted
Long Term Debt $175.26 $122.94 $195.13 $195.13 $225.49 $229.27 $313.55 $365.86 $409.12 $190.97 $189.38 $289.78 $326.57 135.72% <-Total Growth 10 Debt Type
Change -29.86% 58.72% 0.00% 15.56% 1.68% 36.76% 16.68% 11.82% -53.32% -0.83% 53.02% 12.70% 13.69% <-Median-> 10 Change Lg Term R
Debt/Market Cap Ratio 0.19 0.11 0.16 0.15 0.15 0.16 0.22 0.24 0.30 0.11 0.11 0.17 0.19 0.16 <-Median-> 10 % of Market C. Intang/GW
Assets/Current Liabilities Ratio 4.90 3.43 3.20 4.82 5.10 5.29 5.44 5.78 6.26 3.78 4.14 5.38 5.56 5.20 <-Median-> 10 Assets/Current Liab Ratio Liquidity
Debt to Cash Flow (Years) 1.53 0.95 2.44 1.68 1.70 1.82 2.22 2.88 2.54 0.56 0.84 1.58 1.23 1.76 <-Median-> 5 Debt to Cash Flow (Years) Liq. + CF
Debt Ratio
Intangibles $14.62 $20.14 $21.51 $22.49 $32.61 $35.39 $37.63 $39.20 $41.61 $84.41 $34.09 $30.69 $29.73 52.43% <-Total Growth 10 Intangibles Leverage
Goodwill $26.32 $26.16 $29.42 $33.65 $37.26 $37.75 $41.23 $45.20 $49.57 $48.26 $48.50 $30.69 $49.92 17.32% <-Total Growth 10 Goodwill D/E Ratio
Total $40.94 $46.30 $50.94 $56.14 $69.87 $73.15 $78.86 $84.40 $91.18 $132.68 $82.60 $61.39 $79.65 32.59% <-Total Growth 10 Total
Change 13.09% 10.02% 10.21% 24.46% 4.69% 7.81% 7.03% 8.03% 45.52% -37.75% -25.68% 29.75% 7.92% <-Median-> 10 Change
Intangible/Market Cap Ratio 0.04 0.04 0.04 0.04 0.05 0.05 0.06 0.06 0.07 0.08 0.05 0.04 0.05 0.05 <-Median-> 10 % of Market C.
Current Assets $289.30 $295.84 $303.90 $299.07 $315.84 $335.58 $327.94 $335.00 $376.83 $399.59 $396.86 $403.36 $474.84 $541.41 56.25% <-Total Growth 10 Current Assets
Current Liabilities $185.38 $128.00 $190.18 $209.74 $150.23 $155.50 $152.24 $171.21 $176.88 $194.08 $315.14 $294.49 $248.61 $249.29 30.72% <-Total Growth 10 Current Liabilities
Liquidity 1.56 2.31 1.60 1.43 2.10 2.16 2.15 1.96 2.13 2.06 1.26 1.37 1.91 2.17 2.01 <-Median-> 10 Ratio
Liq. with CF aft div 1.79 2.81 2.01 1.55 2.50 2.64 2.59 2.42 2.50 2.56 2.12 1.89 2.36 2.94 2.36 <-Median-> 5 Ratio
Liq. CF re  Inv+Div  1.50 2.08 1.60 1.29 1.87 1.77 1.71 1.23 1.71 1.66 1.75 1.51 1.65 2.94 1.66 <-Median-> 5 Ratio
Curr Long Term Debt $77.80 $6.27 $0.00 $0.00 $0.00 $0.90 $1.85 $90.46 $46.26 $0.27 $0.26
Liquidity Less CLTD 2.27 2.19 2.16 2.15 1.96 2.14 2.08 1.77 1.62 1.91 2.17
Assets $620.48 $626.92 $651.39 $670.51 $724.30 $793.80 $805.82 $930.95 $1,022.92 $1,215.54 $1,191.17 $1,219.27 $1,336.89 $1,385.43 105.24% <-Total Growth 10 Assets
Liabilities $317.99 $343.21 $355.14 $348.07 $395.02 $436.18 $438.04 $548.79 $601.82 $788.57 $685.94 $639.07 $688.99 $728.43 94.00% <-Total Growth 10 Liabilities
Debt Ratio 1.95 1.83 1.83 1.93 1.83 1.82 1.84 1.70 1.70 1.54 1.74 1.91 1.94 1.90 1.83 <-Median-> 10 Ratio
Book Value $302.5 $283.7 $296.3 $322.4 $329.3 $357.6 $367.8 $382.2 $421.1 $427.0 $505.2 $580.2 $647.9 $657.0 118.70% <-Total Growth 10 Book Value
NCI $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $12.2 $12.6 $13.1 $13.9 $16.6 $18.7 $18.5
Book Value $302.5 $283.7 $296.3 $322.4 $329.3 $357.6 $367.8 $370.0 $408.5 $413.9 $491.3 $563.6 $629.2 $638.5 $638.5 $638.5 112.40% <-Total Growth 10 Book Value
Book Value per share $6.25 $5.86 $6.12 $6.66 $6.79 $7.37 $7.58 $7.60 $8.38 $8.49 $10.11 $11.77 $13.18 $13.37 $13.37 $13.37 115.23% <-Total Growth 10 Book Value per Share
Change 4.34% -6.21% 4.40% 8.76% 1.97% 8.54% 2.80% 0.28% 10.29% 1.31% 19.04% 16.48% 11.94% 1.48% 0.00% 0.00% 0.31% P/B Ratio Current/Historical Median
P/B Ratio (Median) 3.20 3.49 3.53 3.75 3.60 3.60 3.76 4.08 3.51 3.57 2.64 2.87 2.73 2.63 2.69 P/B Ratio Historical Median
P/B Ratio (Close) 3.37 3.31 3.78 3.82 3.91 4.14 3.86 3.84 3.72 3.25 3.50 2.98 2.75 2.69 2.69 2.69 7.97% <-IRR #YR-> 10 Book Value per Share 115.23%
Change 12.67% -1.92% 14.25% 1.01% 2.46% 5.90% -6.71% -0.76% -3.02% -12.66% 7.74% -14.93% -7.63% -2.05% 0.00% 0.00% 11.64% <-IRR #YR-> 5 Book Value per Share 73.43%
Leverage (A/BK) 2.05 2.21 2.20 2.08 2.20 2.22 2.19 2.52 2.50 2.94 2.42 2.16 2.12 2.17 2.21 <-Median-> 10 A/BV
Debt/Equity Ratio 1.05 1.21 1.20 1.08 1.20 1.22 1.19 1.48 1.47 1.91 1.40 1.13 1.09 1.14 1.21 <-Median-> 10 Debt/Eq Ratio
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Med 3.58 5 yr Med 2.87 -24.83% Diff M/C 2.20 Historical Leverage (A/BK)
-$6.12 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $13.18
-$7.60 $0.00 $0.00 $0.00 $0.00 $13.18
$125.66 <-12 mths -10.79%
Comprehensive Income $75.71 $42.99 $62.33 $79.67 $62.33 $86.30 $69.94 $62.76 $103.61 $78.61 $147.84 $172.56 $145.49 133.41% <-Total Growth 10 Comprehensive Income
NCI $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.54 $4.72 $3.93 $3.07 $2.64 $4.63 NCI
Shareholders $75.71 $42.99 $62.33 $79.67 $62.33 $86.30 $69.94 $60.22 $98.89 $74.68 $144.77 $169.92 $140.86 125.98% <-Total Growth 10 Shareholders
Increase -2.20% -43.22% 45.00% 27.81% -21.76% 38.46% -18.95% -13.90% 64.21% -24.48% 93.84% 17.38% -17.11% 17.38% <-Median-> 5 Comprehensive Income
5 Yr Running Average $69.90 $67.66 $68.07 $67.62 $64.60 $66.72 $72.11 $71.69 $75.54 $78.01 $89.70 $109.70 $125.82 8.49% <-IRR #YR-> 10 Comprehensive Income 125.98%
ROE 25.0% 15.2% 21.0% 24.7% 18.9% 24.1% 19.0% 16.3% 24.2% 18.0% 29.5% 30.1% 22.4% 18.52% <-IRR #YR-> 5 Comprehensive Income 133.90%
5 Yr Median 24.7% 21.0% 21.0% 21.0% 19.0% 19.0% 19.0% 19.0% 24.2% 24.2% 6.34% <-IRR #YR-> 10 5 Yr Running Average 84.86%
% Difference from NI -1.2% -25.8% -4.3% 24.0% -0.9% 23.7% -9.3% -10.3% 14.0% -9.7% 3.5% 9.8% 15.3% 11.91% <-IRR #YR-> 5 5 Yr Running Average 75.51%
Median Values Diff 5, 10 yr 6.6% 9.8% 24.2% <-Median-> 5 Return on Equity
-$62.3 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $140.9
-$60.2 $0.0 $0.0 $0.0 $0.0 $140.9
-$68.1 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $125.8
-$71.7 $0.0 $0.0 $0.0 $0.0 $125.8
Current Liability Coverage Ratio 0.60 0.98 0.70 0.68 0.93 1.01 1.13 1.02 0.99 1.12 0.91 1.00 1.13 1.07   CFO / Current Liabilities
5 year Median 0.63 0.67 0.67 0.68 0.70 0.93 0.93 1.01 1.01 1.02 1.02 1.00 1.00 1.07 1.00 <-Median-> 5 Current Liability Cov Ratio
Asset Efficiency Ratio 17.89% 19.92% 20.52% 21.25% 19.29% 19.87% 21.38% 18.84% 17.05% 17.85% 24.06% 24.06% 21.02% 19.20% CFO / Total Assets
5 year Median 17.68% 17.89% 18.38% 19.92% 19.92% 19.92% 20.52% 19.87% 19.29% 18.84% 18.84% 18.84% 21.02% 21.02% 21.0% <-Median-> 5 Return on Assets 
Return on Assets ROA 12.34% 9.25% 10.00% 9.58% 8.68% 8.79% 9.56% 7.21% 8.48% 6.81% 11.74% 12.70% 9.14% 9.34% Net  Income/Assets Return on Assets
5Yr Median 12.34% 12.34% 12.34% 10.00% 9.58% 9.25% 9.56% 8.79% 8.68% 8.48% 8.48% 8.48% 9.14% 9.34% 9.1% <-Median-> 5 Asset Efficiency Ratio
Return on Equity ROE 25.32% 20.43% 21.99% 19.93% 19.10% 19.51% 20.96% 18.15% 21.23% 19.99% 28.47% 27.46% 19.42% 20.27% Net Inc/ Shareholders' equity Return on Equity
5Yr Median 25.32% 25.32% 25.32% 21.99% 20.43% 19.93% 19.93% 19.51% 19.51% 19.99% 20.96% 21.23% 21.23% 20.27% 21.2% <-Median-> 5 Return on Equity
$121.09 <-12 mths -0.90%
Net Income $76.59 $57.96 $65.15 $64.26 $62.88 $69.78 $77.08 $69.69 $90.63 $86.27 $143.56 $157.45 $125.84 93.15% <-Total Growth 10 Net Income
NCI $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.54 $3.88 $3.55 $3.69 $2.65 $3.65 NCI
Shareholders $76.59 $57.96 $65.15 $64.26 $62.88 $69.78 $77.08 $67.15 $86.75 $82.72 $139.87 $154.80 $122.19 $129 $138 87.56% <-Total Growth 10 Shareholders Est. Alpha
Increase -6.38% -24.33% 12.40% -1.36% -2.15% 10.97% 10.46% -12.87% 29.18% -4.64% 69.09% 10.67% -21.07% 5.90% 6.27% EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average $70.09 $70.95 $71.38 $69.16 $65.37 $64.01 $67.83 $68.23 $72.73 $76.70 $90.72 $106.26 $117.27 $125.80 $136.76 6.49% <-IRR #YR-> 10 Net Income 87.56%
Operating Cash Flow $110.91 $114.66 $128.99 $80.04 $116.04 $132.99 $126.02 $141.42 $127.12 $161.12 $338.72 $224.14 $182.84 12.72% <-IRR #YR-> 5 Net Income 81.95%
Investment Cash Flow -$36.00 -$45.14 -$48.78 -$42.39 -$50.31 -$75.81 -$77.68 -$165.86 -$80.79 -$104.27 -$66.90 -$75.86 -$106.80 5.09% <-IRR #YR-> 10 5 Yr Running Average 64.29%
Total Accruals $1.68 -$11.56 -$15.06 $26.61 -$2.84 $12.61 $28.73 $91.60 $40.42 $25.88 -$131.94 $6.53 $46.15 11.44% <-IRR #YR-> 5 5 Yr Running Average 71.87%
Total Assets $620.48 $626.92 $651.39 $670.51 $724.30 $793.80 $805.82 $930.95 $1,022.92 $1,215.54 $1,191.17 $1,219.27 $1,336.89 Balance Sheet Assets
Accruals Ratio 0.27% -1.84% -2.31% 3.97% -0.39% 1.59% 3.57% 9.84% 3.95% 2.13% -11.08% 0.54% 3.45% 2.13% <-Median-> 5 Ratio
EPS/CF Ratio 0.69 0.46 0.49 0.45 0.45 0.44 0.44 0.38 0.49 0.38 0.48 0.52 0.43 0.45 <-Median-> 10 EPS/CF Ratio
-$65.1 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $122.2
-$67.2 $0.0 $0.0 $0.0 $0.0 $122.2
-$71.4 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $117.3
-$68.2 $0.0 $0.0 $0.0 $0.0 $117.3
Chge in Close 17.56% -8.01% 19.28% 9.85% 4.48% 14.95% -4.09% -0.48% 6.97% -11.52% 28.25% -0.90% 3.40% -0.61% 0.00% 0.00% Count 27 Years of data
up/down/neutral down down  up Count 7 25.93%
Meet Prediction? % right Count 2 28.57%
With Financial Cash Flow down  down  down  down  down  down  down  down  down  down  down down down down Count 24 88.89%
Meet Prediction? yes Yes Yes Yes Yes % right Count 8 33.33%
Financial Cash Flow -$70.96 -$73.77 -$68.52 -$53.97 -$58.95 -$50.17 -$54.40 $19.93 -$33.75 -$67.24 -$227.06 -$170.20 -$68.30 C F Statement  Financial Cash Flow
Total Accruals $72.64 $62.21 $53.46 $80.59 $56.11 $62.78 $83.13 $71.67 $74.17 $93.12 $95.12 $176.72 $114.45 Accruals
Accruals Ratio 11.71% 9.92% 8.21% 12.02% 7.75% 7.91% 10.32% 7.70% 7.25% 7.66% 7.99% 14.49% 8.56% 7.99% <-Median-> 5 Ratio
Cash  $31.23 $26.98 $38.68 $22.35 $29.13 $37.24 $30.24 $25.16 $38.45 $28.19 $71.54 $49.43 $58.81 $75.00 Cash
Cash per share $0.65 $0.56 $0.80 $0.46 $0.60 $0.77 $0.62 $0.52 $0.79 $0.58 $1.47 $1.03 $1.23 $1.57 $1.03 <-Median-> 5 Cash per Share
Percentage of Stock Price 3.06% 2.88% 3.45% 1.82% 2.26% 2.51% 2.13% 1.77% 2.53% 2.10% 4.16% 2.95% 3.40% 4.36% 2.95% <-Median-> 5 % of Stock Price
Taxes
Dividend
Cap Gain
Taxable Inc
Ret of Cap.
Total
For Tax Cr
Notes:
October 1, 2023.  Last estimates were for 2023, 2024 and 2025 of $2255M, $2314M and $2398M for Revenue, $2.51, $2.56 and $2.62 for AEPS, 
$2.43, $2.54 and $2.66 for EPS, $1.51, $1.53 and $1.52 for dividends, $98M, $104M and $101M for FCF, $4.61, $4.74 and $3.99 for CFPS, $127M, $130M and $138M for Net Income.
October 2, 2022.  Last estimates were for 2021, 2022 and 2023 of $$2179M, $2192M and $2316M for Revenue, $2.81, $2.55 and $2.62 for EPS, 
$1.47 and $1.49 for Dividends 2021/2, 118M, $117M and $113M for FCF, $4.43 and $4.73 for 2021/2 for CFPS.
September 26, 2021.  Last estimates were for 2020, 2021 and 2022 of $2347M, $2132M and $2303M for Revenue, $2.64, $2.19 and 2.60 for EPS, 
$1.38 and $1.46 for dividends for 2020 and 21, $155M, $121M and $109M for FCF, $4.52 and $4.81 for CFPS for 2020 and 2021.
October 17, 2020.  Last estimates were for 2020, 2021 and 2022 of $2097M, $2175M and $2253M for Revenue,  $1.62, $1.81 and 2.03 for EPS, $4.04 and $3.93 for CFPS for 2020 and 2021.
October 13, 2019.  Last estimates were for 2019, 2020 and 2021 of $1992M, $2088M and $2137M for Revenue, $1.71, $1.99 and $2.26 for EPS, 3.09 and $3.32 for CFPS for 2019 and 2020.
October 20, 2018.  Last estimates were for 2018, 2019 and 2020 of $2020M, $2098M, $2154M for Revenue, $1.82, $1.98 and $2.17 for EPS, $2.73 and $3.37 for CFPS for 2018 and 2019 and $89.66 for Net Incoem for 2018.
October 28, 2017.  Last estimates were for 2017, 2018 and 2019 of $1846M, $1912M and $1975M for Revenue, $1.48, $1.61 and $1.66 for EPS, $2.45 and $2.90 for CPPS for 2017 and 2018.
October 29, 2016.  Last estimates were for 2016, 2017 and 2018 of $1788M, $1866M and $1955M for Revenue, $1.51, $1.63 and $1.78 for EPS, $1.97 and $1.94 for CFPS for 2016 and 2017.
October 28, 2015.  Last estimates were for 2015, 2016 and 2017 of $1592M, $1650M and $1678M for Revenue, $1.16, $1.22 and $1.32 for EPS, $1.94 and $1.87 for CFPS for 2015 and 2016.
October 21, 2014.  Last estimates were for 2014 and 2015 of $1529M and $1570M ($1646M for 2016) for Revenue, $1.39 and $1.50 for EPS and $1.58 and $1.87 for CFPS.
Sept 22, 2013.  Last estimates for the financial years ending in January 2013 and 2013 were $1563.6M and $1625.2M for Revenue, $1.35, $1.45 and ($1.58 for 2015) for EPS.
August 12, 2012.  Last estimates were for 2012 and 2013 of $1.26 and $1.39 for EPS and for 2011 and 2012 of $1.98 and $2.15 for CF.
Feb 4, 2011.  The last time I looked at this stock I got 2010 and 2011 estimates of $1.65 and $1.72 for earnings and $1.96 and $2.06 for cash flow.
May 2, 2011.  The common shares of North West will commence trading under the symbol "NWC", change from NWF
Company has changed to a stock company. From The North West Company Fund to The North West Company.  Symbol from NWF.UN to NWF.
Company does not use FFO or Distributable Cash.  It does its comparisons to Cash Flow.  Distributions are not expected to be decreased until after 2011 and by an amount of 30% or less.  The reduction will probably be in the low 20% range.
September 1990.  Listed on the TSE in September 1990.  Annual report of 1996 has symbol of NWF.UN.  This report says it is listed on The Toronto Stock Exchange and Winnipeg Stock Exchange.
1997.  The converted to an income trust in 1997.
1987.  The Northern Stores Division of Hudson's Bay Company, in April 1987, was acquired by a group of investors.
1987.  In their history they says their rebirth was in 1987. 
1821.  The company traces its history back to the North West Company, a fur trading business.  It was merged into the Hudson's Bay Company in 1821.
On June 14, 2017, the Company’s Common Shares were replaced by Variable Voting Shares and Common Voting Shares. The two classes 
of shares have equivalent rights except for voting rights. Holders of Variable Voting Shares are entitled to one vote per share except where 
(i) the number of outstanding Variable Voting Shares exceeds 25% of the total number of all issued and outstanding Variable Voting Shares 
and Common Voting Shares, or (ii) the total number of votes cast by or on behalf of the holders of Variable Voting Shares at any meeting on 
any matter on which a vote is to be taken exceeds 25% of the total number of votes cast at such meeting. Variable Voting Shares may only 
be held, beneficially owned or controlled, directly or indirectly, by persons who are not Canadians (within the meaning of the Canada Transportation Act).
Sector:
Consumer Staple, Consumer
What should this stock accomplish?
Would I buy this company and Why.
This is a dividend growth stock, so I would consider it.  Because it is in the retail sector there will be volitility.
Why am I following this stock. 
I wanted to review all the income trust stocks touted in the Money Show of 2009.   There was a lot of talk at this show about some of the Income Trust being currently good buys with 
very good yields.  This stock changed from an income trust to a corporation in 2011.
Dividends
Dividends are paid cycle 1, that is April, July, October and January.  The dividends are declared in one month and paid in the following month.
For example, the Dividend declared for Shareholders of record of March 31, 2014 was paid on April 15, 2014.
How they make their money.
The North West Company  is a Canada-based company that is principally engaged in retail business in underserved rural communities and urban neighborhoods. The company provides food, 
family apparel, housewares, appliances, and outdoor products, with food products accounting for the majority of the company's revenue. The company also offers services, including post offices, 
income tax return preparation, money transfers, commercial business sales, and others. Its geographical segment includes Canada and International. The company generates maximum revenue from Canada.
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.
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 2015 Oct 29 2016 Oct 28 2017 Oct 20 2018 Oct 13 2019 Oct 17 2020 Sep 26 2021 Oct 2 2022 Oct 1 2023
McConnel, Daniel G. 0.029 0.06% 0.031 0.07% 0.035 0.07% 0.038 0.08% 8.34%
CEO - Shares - Amount $1.029 $1.099 $1.274 $1.372
Options - percentage 0.411 0.85% 0.239 0.50% 0.284 0.59% 0.353 0.74% 24.51%
Options - amount $14.542 $8.377 $10.280 $12.721
Kennedy, Edward Stephen 0.63% 0.304 0.63% 0.304 0.62% 0.304 0.62% 0.411 0.84% 0.411 0.85% C Ceased insider Aug 2021
CEO - Shares - Amount $9.279 $8.902 $8.862 $9.482 $11.336 $14.542 C
Options - percentage 1.78% 1.379 2.84% 1.604 3.29% 1.572 3.22% 1.440 2.95% 0.811 1.67%
Options - amount $26.438 $40.373 $46.741 $48.999 $39.720 $28.692
King, John D. 0.14% 0.074 0.15% 0.077 0.16% 0.085 0.17% 0.088 0.18% 0.092 0.19% 0.097 0.20% 0.101 0.21% 0.105 0.22% 4.33%
CFO - Shares - Amount $2.130 $2.164 $2.255 $2.634 $2.437 $3.265 $3.392 $3.656 $3.791
Options - percentage 0.19% 0.169 0.35% 0.205 0.42% 0.221 0.45% 0.227 0.47% 0.232 0.48% 0.186 0.39% 0.168 0.35% 0.149 0.31% -11.50%
Options - amount $2.835 $4.958 $5.964 $6.877 $6.254 $8.189 $6.528 $6.091 $5.358
Beaulieu, Michael 0.05% 0.005 0.01% 0.024 0.05% 0.025 0.05% 0.026 0.05% 0.027 0.06% 0.031 0.07% 0.035 0.07% 0.037 0.08% 5.58%
Officer - Shares - Amount $0.668 $0.136 $0.696 $0.777 $0.718 $0.964 $1.094 $1.259 $1.321
Options - percentage 0.02% 0.026 0.05% 0.033 0.07% 0.022 0.05% 0.054 0.11% 0.055 0.11% 0.062 0.13% 0.068 0.14% 0.068 0.14% -1.35%
Options - amount $0.343 $0.751 $0.961 $0.684 $1.494 $1.936 $2.165 $2.481 $2.433
Akerstream, Cole James Ashley 0.006 0.01% 0.007 0.01% 10.58%
Officer - Shares - Amount $0.227 $0.249
Options - percentage 0.023 0.05% 0.028 0.06% 18.94%
Options - amount $0.843 $0.996
Coleman, Frank J.  0.025 0.05% 0.025 0.05% 0.025 0.05% 0.00%
Director - Shares - Amount $0.859 $0.888 $0.882
Options - percentage 0.046 0.10% 0.049 0.10% 0.057 0.12% 16.30%
Options - amount $1.619 $1.769 $2.045
Konkle, Violet 0.004 0.01% 0.004 0.01% 0.00%
Director - Shares - Amount $0.132 $0.131
Options - percentage 0.027 0.06% 0.034 0.07% 25.07%
Options - amount $0.983 $1.222
Bulbuck, W. Brock 0.002 0.00% 0.002 0.00% 0.002 0.00% 0.002 0.00% Chairman in 2022 0.00%
Chairman- Shares - Amount $0.071 $0.070 $0.072 $0.072 from Director
Options - percentage 0.012 0.02% 0.016 0.03% 0.018 0.04% 0.028 0.06% 57.74%
Options - amount $0.424 $0.561 $0.653 $1.024
Riley, H. Sanford 0.00% 0.011 0.02% 0.011 0.02% 0.011 0.02% 0.011 0.02% 0.011 0.02% 0.005 0.01% must of forgotten to
Chairman - Shares - Amt $0.000 $0.322 $0.321 $0.343 $0.303 $0.389 $0.182 update in 2015
Options - percentage 0.00% 0.065 0.13% 0.073 0.15% 0.083 0.17% 0.093 0.19% 0.105 0.22% 0.115 0.24%
Options - amount $0.000 $1.889 $2.121 $2.579 $2.570 $3.716 $4.047
Increase in O/S Shares 0.15% 0.026 0.05% 0.019 0.04% 0.014 0.03% 0.061 0.12% 0.000 0.00% 0.043 0.09% 0.072 0.15% 0.108 0.23% Yes 0 2020
due to SO $1.897 $0.798 $0.561 $0.401 $1.893 $0.000 $1.527 $2.536 $3.915
Book Value $0.623 $0.450 $0.373 $0.336 $1.062 $0.000 $1.180 $1.789 $4.067
Insider Buying -$2.379 -$0.179 -$0.441 -$0.325 -$0.010 $0.000 -$0.038 -$0.196 -$0.111
Insider Selling $0.207 $0.000 $0.393 $0.040 $0.000 $0.022 $5.144 $0.057 $0.667
Net Insider Selling -$2.172 -$0.179 -$0.048 -$0.285 -$0.010 $0.022 $5.106 -$0.140 $0.556
% of Market Cap -0.15% -0.01% 0.00% -0.02% 0.00% 0.00% 0.30% -0.01% 0.03%
Directors 11 11 12 13 13 10 11 11
Women 30% 3 27% 3 27% 3 25% 4 31% 4 31% 3 30% 4 36% 4 36%
Minorities 0% 1 9% 1 9% 2 17% 3 23% 3 23% 3 30% 3 27% 3 27%
Native Indian Women; Native Indian man; Native Indian man;
East Asian Man (Indian) Native Indian Women; Native Indian Women;
Native Indian man; East Asian Man (Indian) East Asian Man (Indian)
Institutions/Holdings 38.79% 68 30.93% 81 30.37% 88 38.03% 88 38.03% 20 31.31% 20 35.45% 20 28.05% 20 23.40%
Total Shares Held 38.79% 15.006 30.91% 14.787 30.37% 18.519 37.99% 0.000 0.00% 15.264 31.40% 17.106 35.19% 13.444 28.15% 11.190 23.44%
Increase/Decrease 2.03% -0.921 -5.78% 0.720 5.12% 0.308 1.69% 0.308 -100.00% -0.322 -2.07% 1.091 6.81% 0.244 1.85% 0.621 5.87%
Starting No. of Shares 15.927 14.067 18.211 -0.308 15.586 16.015 13.200 10.570
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