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 Power calculations see Aden
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet. Q1 2025 <-Estimates
See my website on stocks or see my blog at the following sites.  https://spbrunner.com/stocks.html https://spbrunner.blogspot.com/ 3/31/25 <-Estimates https://www.annualreports.com/Company/first-national-financial-corporation
First National Financial Corporation  TSX FN OTC FNLIF https://www.firstnational.ca/ Fiscal Yr: Dec 31
Year 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 12/31/27 Value Description #Y Item Total G
Accounting Rules IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS Accounting Rules
$850 <-12 mths 0.63%
Revenue Total $628.6 $776.5 $803.1 $915.3 $1,049.8 $1,078.8 $1,181.5 $1,326.5 $1,380.3 $1,394.4 $1,574.3 $2,024.3 $2,217.0 176.05% <-Total Growth 10 Revenue Total
Increase 35.47% 23.53% 3.43% 13.97% 14.69% 2.76% 9.52% 12.27% 4.05% 1.02% 12.90% 28.58% 9.52% 10.90% <-Median-> 10 Increase
Revenue Statement $337.0 $429.2 $550.2 $620.8 $640.0 $658.8 $790.2 $877.7 $837.6 $793.5 $908.6 $1,336.1 $1,598.5 190.53% <-Total Growth 10 Revenue Statement
Increase 32.61% 27.37% 28.19% 12.83% 3.08% 2.94% 19.95% 11.08% -4.57% -5.26% 14.50% 47.05% 19.65% 11.95% <-Median-> 10 Increase
Difference $73.6 $431.3 $753.7
Net Revenue* $381.9 $453.3 $368.4 $426.7 $554.1 $566.8 $535.4 $587.5 $672.1 $764.3 $835.0 $904.8 $844.8 $927.4 $974.1 129.33% <-Total Growth 10 Net Revenue*
Increase 36.52% 18.70% -18.73% 15.82% 29.88% 2.29% -5.54% 9.71% 14.41% 13.72% 9.25% 8.36% -6.63% 9.78% 5.04% 8.65% <-IRR #YR-> 10 Net Revenue* 129.33%
5 year Running Average $241.5 $295.0 $333.0 $382.0 $436.9 $473.9 $490.3 $534.1 $583.2 $625 $678.9 $752.7 $804.2 $855.3 $897.2 7.54% <-IRR #YR-> 5 Net Revenue* 43.81%
Revenue per Share $6.37 $7.56 $6.14 $7.11 $9.24 $9.45 $8.93 $9.80 $11.21 $12.75 $13.92 $15.09 $14.09 $15.47 $16.24 9.22% <-IRR #YR-> 10 5 yr Running Average 141.50%
Increase 36.52% 18.70% -18.73% 15.82% 29.88% 2.29% -5.54% 9.71% 14.41% 13.72% 9.25% 8.36% -6.63% 9.78% 5.04% 8.53% <-IRR #YR-> 5 5 yr Running Average 50.57%
5 year Running Average $4.03 $4.92 $5.55 $6.37 $7.29 $7.90 $8.18 $8.91 $9.73 $10.43 $11.32 $12.55 $13.41 $14.26 $14.96 8.65% <-IRR #YR-> 10 Revenue per Share 129.33%
P/S (Price/Sales) Med 2.59 2.58 3.80 2.85 2.78 2.80 3.10 3.66 2.75 3.63 2.81 2.43 2.85 2.61 0.00 7.54% <-IRR #YR-> 5 Revenue per Share 43.81%
P/S (Price/Sales) Close 2.95 2.99 3.83 3.16 2.91 3.05 3.08 3.89 3.70 3.26 2.62 2.54 2.86 2.52 2.39 9.22% <-IRR #YR-> 10 5 yr Running Average 141.50%
P/S 10 Year Median  3.21 2.97 2.97 2.82 2.82 2.83 2.83 2.83 2.80 2.80 8.53% <-IRR #YR-> 5 5 yr Running Average 50.57%
*Revenue in M CDN $  P/S Med 20 yr  2.85 15 yr  2.85 10 yr  2.83 5 yr  2.81 -11.06% Diff M/C
-$368.4 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $844.8
-$587.5 $0.0 $0.0 $0.0 $0.0 $844.8
-$333.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $804.2
-$534.1 $0.0 $0.0 $0.0 $0.0 $804.2
-$6.14 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $14.09
-$9.80 $0.00 $0.00 $0.00 $0.00 $14.09
$0.00 <-12 mths #DIV/0!
$3.29 <-12 mths -1.20%
Difference Basic and Diluted 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 Difference Basic and Diluted
EPS Basic $1.76 $2.75 $1.62 $1.71 $3.28 $3.42 $2.73 $2.90 $3.12 $3.20 $3.25 $4.15 $3.33 105.56% <-Total Growth 10 EPS Basic
EPS Diluted* $1.76 $2.75 $1.62 $1.71 $3.28 $3.42 $2.73 $2.90 $3.12 $3.20 $3.25 $4.15 $3.33 $3.90 $4.35 105.56% <-Total Growth 10 EPS Diluted
Increase 60.00% 56.25% -41.09% 5.56% 91.81% 4.27% -20.18% 6.23% 7.59% 2.56% 1.56% 27.69% -19.76% 17.06% 11.54% 10 0 10 Years of Data, EPS P or N 100.00%
Earnings Yield 9.36% 12.17% 6.89% 7.62% 12.18% 11.88% 9.94% 7.62% 7.52% 7.70% 8.92% 10.81% 8.25% 10.02% 11.18% 7.47% <-IRR #YR-> 10 Earnings per Share 105.56%
5 year Running Average $2.02 $2.21 $1.98 $1.79 $2.22 $2.56 $2.55 $2.81 $3.09 $3.07 $3.04 $3.32 $3.41 $3.57 $3.80 2.80% <-IRR #YR-> 5 Earnings per Share 14.83%
10 year Running Average $2.29 $2.38 $2.40 $2.44 $2.65 $2.80 $2.94 $3.11 $3.33 $3.43 5.57% <-IRR #YR-> 10 5 yr Running Average 71.88%
* Diluted ESP per share  E/P 10 Yrs 8.59% 5Yrs 8.25% 3.96% <-IRR #YR-> 5 5 yr Running Average 21.44%
-$1.62 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.33
-$2.90 $0.00 $0.00 $0.00 $0.00 $3.33
-$1.98 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.41
-$2.81 $0.00 $0.00 $0.00 $0.00 $3.41
Dividend* $2.52 $2.64 Estimates Dividend*
Increase 2.76% 4.60% Estimates Increase
Payout Ratio EPS 64.70% 60.67% Estimates Payout Ratio EPS
Special Dividends $0.00 $0.00 $0.00 $0.00 $0.00 $1.25 $1.00 $0.50 $0.50 $1.25 $0.00 $0.75 $0.50 $0.50 $0.50 $0.50 $0.50 <-Median-> 10 Special Dividends
Dividend* $1.26 $1.38 $1.48 $1.50 $1.70 $1.81 $1.85 $1.90 $1.96 $2.25 $2.35 $2.40 $2.45 $2.50 $2.50 $2.50 66.27% <-Total Growth 10 Dividends
Increase 1.28% 8.94% 7.19% 1.90% 13.14% 6.51% 2.30% 2.70% 3.06% 14.44% 4.82% 2.12% 2.08% 1.87% 0.00% 0.00% 17 1 18 Years of data, Count P, N
Average Increases 5 Year Running -0.43% -0.04% -0.32% 4.10% 6.93% 6.33% 5.12% 5.32% 3.07% 4.78% 5.39% 5.25% 5.01% 2.26% 1.24% 0.80% 5.19% <-Median-> 10 5 year Increases
Dividends 5 Yr Running $1.46 $1.46 $1.45 $1.45 $1.46 $1.82 $2.12 $2.31 $2.50 $2.86 $2.71 $2.77 $2.88 $2.99 $2.89 $3.02 99.29% <-Total Growth 10 Dividends 5 Yr Running
Yield H/L Price Tot. Div 7.67% 7.07% 6.33% 7.43% 6.61% 11.59% 10.33% 6.71% 8.00% 7.56% 6.01% 8.59% 7.37% 7.44%
Yield on High  Price Tot. Div 6.72% 5.80% 5.70% 6.32% 5.32% 10.21% 9.56% 5.39% 5.93% 6.61% 5.16% 7.81% 6.58% 7.19%
Yield on Low Price Tot. Div 8.94% 9.03% 7.12% 9.01% 8.73% 13.41% 11.23% 8.88% 12.26% 8.82% 7.20% 9.54% 8.37% 7.69%
Yield on Close Price Total Div 6.72% 6.09% 6.28% 6.70% 6.32% 10.63% 10.41% 6.31% 5.94% 8.41% 6.46% 8.22% 7.32% 7.71% 7.71%
Yield H/L Price 7.67% 7.07% 6.33% 7.43% 6.61% 6.86% 6.70% 5.31% 6.37% 4.85% 6.01% 6.55% 6.12% 6.20% 6.46% <-Median-> 10 Yield H/L Price Item
Yield on High  Price 6.72% 5.80% 5.70% 6.32% 5.32% 6.04% 6.20% 4.27% 4.73% 4.25% 5.16% 5.95% 5.47% 6.00% 5.40% <-Median-> 10 Yield on High  Price EPS
Yield on Low Price 8.94% 9.03% 7.12% 9.01% 8.73% 7.94% 7.29% 7.03% 9.77% 5.67% 7.20% 7.27% 6.95% 6.41% 7.28% <-Median-> 10 Yield on Low Price CFPS
Yield on Close Price 6.72% 6.09% 6.28% 6.70% 6.32% 6.29% 6.75% 5.00% 4.73% 5.40% 6.46% 6.26% 6.08% 6.43% 6.43% 6.43% 6.28% <-Median-> 10 Yield on Close Price FCF 
Payout Ratio EPS 71.82% 50.07% 91.11% 87.95% 51.88% 89.55% 104.69% 82.90% 78.93% 109.24% 72.44% 76.00% 88.71% 76.96% 69.00% 0.00% $0.79 <-Median-> 19 DPR EPS
DPR EPS 5 Yr Running 72.23% 66.21% 72.94% 80.98% 65.85% 71.37% 83.09% 82.13% 80.83% 92.93% 89.31% 83.46% 84.58% 83.90% 76.21% 0.00% $0.81 <-Median-> 13 DPR EPS 5 Yr Running
Payout Ratio CFPS 45.66% 0.00% 0.00% 672.21% 0.00% 94.52% 0.00% 31.43% 58.84% 52.03% 27.73% 0.00% 0.00% 0.00% $0.28 <-Median-> 17 DPR CF
DPR CF 5 Yr Running 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 308.06% 162.11% 86.01% 62.11% 54.79% 292.37% 0.00% $0.00 <-Median-> 13 DPR CF 5 Yr Running
Payout Ratio CFPS WC 61.10% 67.70% 118.51% 69.16% 52.31% 106.50% 149.95% 187.57% 23.51% 24.72% N/C 77.94% 109.00% 0.00% $0.75 <-Median-> 16 DPR CF WC
DPR CF WC 5 Yr Running 68.17% 83.83% 85.23% 84.35% 67.96% 78.75% 92.56% 100.34% 63.10% 46.55% 52.95% 49.93% 49.37% 249.43% $0.63 <-Median-> 17 DPR CF WC 5 Yr Running
Median Values 10 Yr Med 10 Yr Cl 6.46% 6.28% 5 Yr Med 5 Yr Cl 6.12% 6.08% 5 Yr Med Payout 78.93% 27.73% 51.33%
* Dividends per Share  10 Yr Med and Cur. -0.50% 2.36% 5 Yr Med and Cur. 4.96% 5.64% Last Div Inc ---> $0.20417 $0.20833 2.04%
* Total Dividends per Share 10 Yr Med 10 Yr Cl 7.49% 7.01% 5 Yr Med 5 Yr Cl 7.56% 7.32% 5.21% <-IRR #YR-> 5 Dividends 28.88%
10 Yr Med and Cur. 2.94% 10.00% 5 Yr Med and Cur. 2.08% 26.77% 5.22% <-IRR #YR-> 10 Dividends 66.27%
Dividends Growth 15 3.91% <-IRR #YR-> 15 Dividends 77.84%
Dividends Growth 20 11.32% <-IRR #YR-> 16 Dividends
Dividends Growth 5 -$1.90 $0.00 $0.00 $0.00 $0.00 $2.45 Dividends Growth 5
Dividends Growth 10 -$1.48 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.45 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 $2.45 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 $2.45 Dividends Growth 20
Historical Dividends Historical High Div 16.16% Low Div 4.25% 10 Yr High 9.70% 10 Yr Low 4.25% Med Div 6.61% Close Div 6.32% Historical Dividends
High/Ave/Median Values Curr diff Exp. -60.23% 33.87% Exp. -33.75% 51.22% Exp. -2.77% Cheap 1.71% High/Ave/Median 
Total Dividends Historical High Div 17.92% Low Div 7.12% 10 Yr High 10.14% 10 Yr Low 7.31% Med Div 7.56% Close Div 7.32% Total Dividends
High/Ave/Median Values Curr diff Exp. -56.96% 7.68% Exp. -23.94% 5.50% Cheap Cheap 5.31% High/Ave/Median 
Future Dividend Yield Div Yield $0.08 earning in 5 Years at IRR of 5.21% Div Inc. 28.88% Future Dividend Yield
Future Dividend Yield Div Yield 10.68% earning in 10 Years at IRR of 5.21% Div Inc. 66.11% Future Dividend Yield
Future Dividend Yield Div Yield 13.76% earning in 15 Years at IRR of 5.21% Div Inc. 114.09% Future Dividend Yield
Future Dividend Paid Div Paid $3.22 earning in 5 Years at IRR of 5.21% Div Inc. 28.88% Future Dividend Paid Div Pd
Future Dividend Paid Div Paid $4.15 earning in 10 Years at IRR of 5.21% Div Inc. 66.11% Future Dividend Paid $3.22
Future Dividend Paid Div Paid $5.35 earning in 15 Years at IRR of 5.21% Div Inc. 114.09% Future Dividend Paid $4.15
$5.35
Dividend Covering Cost Total Div $13.87 over 5 Years at IRR of 5.21% Div Cov. 35.66% Dividend Covering Cost
Dividend Covering Cost Total Div $28.53 over 10 Years at IRR of 5.21% Div Cov. 73.33% Dividend Covering Cost
Dividend Covering Cost Total Div $47.42 over 15 Years at IRR of 5.21% Div Cov. 121.89% Dividend Covering Cost
Yield if held 5 years 6.98% 12.20% 10.18% 8.00% 10.22% 11.00% 9.51% 8.17% 9.69% 8.73% 8.91% 8.69% 6.85% 8.12% 5.40% 6.39% 8.82% <-Median-> 10 Paid Median Price
Yield if held 10 years 13.83% 10.01% 16.43% 13.13% 10.44% 13.49% 14.29% 12.34% 10.52% 12.35% 9.71% 9.46% 13.13% <-Median-> 9 Paid Median Price
Yield if held 15 years 18.25% 13.01% 21.30% 16.92% 13.30% 15.01% 15.18% 17.59% <-Median-> 4 Paid Median Price
Yield if held 20 years 20.32% 13.81% #NUM! <-Median-> 0 Paid Median Price
Yield if held 25 years #DIV/0! #NUM! <-Median-> 0 Paid Median Price
year 35 BMO, EMP, T, JNJ
Cost covered if held 5 years 40.26% 64.71% 49.89% 38.52% 43.98% 55.38% 54.40% 49.44% 61.69% 55.50% 51.38% 50.13% 40.24% 48.57% 31.26% 38.60% 50.76% <-Median-> 10 Paid Median Price Div Yd
Cost covered if held 10 years 117.40% 90.66% 158.66% 129.38% 104.97% 129.76% 137.80% 125.57% 111.28% 135.58% 111.70% 108.57% 125.57% <-Median-> 9 Paid Median Price 8.12%
Cost covered if held 15 years 233.48% 165.66% 281.58% 228.80% 184.56% 216.63% 229.53% 231.14% <-Median-> 4 Paid Median Price 12.35%
Cost covered if held 20 years 351.01% 249.13% #NUM! <-Median-> 0 Paid Median Price 13.30%
Cost covered if held 25 years #DIV/0! #NUM! <-Median-> 0 Paid Median Price
Yr  Item Tot. Growth
Revenue Growth  $587.5 $672.1 $764.3 $835.0 $904.8 $844.8 $850.1 <-12 mths 0.63% 43.81% <-Total Growth 5 Revenue Growth  43.81%
EPS Growth $2.90 $3.12 $3.20 $3.25 $4.15 $3.33 $3.29 <-12 mths -1.20% 14.83% <-Total Growth 5 EPS Growth 14.83%
Net Income Growth $174.2 $187.4 $191.9 $194.7 $249.0 $199.5 $194.0 <-12 mths -2.76% 14.55% <-Total Growth 5 Net Income Growth 14.55%
Cash Flow Growth $458.7 $251.0 $402.9 $509.2 -$103.5 -$763.7 $0.0 <-12 mths -100.00% -266.50% <-Total Growth 5 Cash Flow Growth -266.50%
Dividend Growth $1.90 $1.96 $2.25 $2.35 $2.40 $2.45 $2.50 <-12 mths 1.87% 28.88% <-Total Growth 5 Dividend Growth 28.88%
Stock Price Growth $38.08 $41.48 $41.56 $36.42 $38.38 $40.34 $38.90 <-12 mths -3.57% 5.93% <-Total Growth 5 Stock Price Growth 5.93%
Revenue Growth  $368.4 $426.7 $554.1 $566.8 $535.4 $587.5 $672.1 $764.3 $835.0 $904.8 $844.8 $927.4 <-this year 9.78% 129.33% <-Total Growth 10 Revenue Growth  129.33%
EPS Growth $1.62 $1.71 $3.28 $3.42 $2.73 $2.90 $3.12 $3.20 $3.25 $4.15 $3.33 $0.00 <-this year -100.00% 105.56% <-Total Growth 10 EPS Growth 105.56%
Net Income Growth $97.1 $102.5 $196.5 $205.3 $163.5 $174.2 $187.4 $191.9 $194.7 $249.0 $199.5 $228.8 <-this year 14.69% 105.54% <-Total Growth 10 Net Income Growth 105.54%
Cash Flow Growth -$230.7 $13.4 -$131.0 $194.3 -$311.0 $458.7 $251.0 $402.9 $509.2 -$103.5 -$763.7 $0.0 <-this year -100.00% -231.03% <-Total Growth 10 Cash Flow Growth -231.03%
Dividend Growth $1.48 $1.50 $1.70 $1.81 $1.85 $1.90 $1.96 $2.25 $2.35 $2.40 $2.45 $2.52 <-this year 2.76% 66.27% <-Total Growth 10 Dividend Growth 66.27%
Stock Price Growth $23.51 $22.45 $26.93 $28.80 $27.46 $38.08 $41.48 $41.56 $36.42 $38.38 $40.34 $38.90 <-this year -3.57% 71.59% <-Total Growth 10 Stock Price Growth 71.59%
Dividends on Shares $121.34 $132.19 $141.70 $144.38 $163.36 $294.00 $274.38 $230.80 $236.40 $335.60 $226.00 $302.80 $283.60 $288.00 $288.00 $288.00 $3,334.11 No of Years 16 Total Dividends 12/31/08
Share Value $1,804.80 $2,169.60 $2,256.96 $2,155.20 $2,585.28 $2,764.80 $2,636.16 $3,655.68 $3,982.08 $3,989.76 $3,496.32 $3,684.48 $3,872.64 $3,734.40 $3,734.40 $3,734.40 $3,872.64 No of Years 16 Share Value $10.49
Total $7,206.75 Total Return
Dividends on Shares $64.67 $73.17 $131.69 $122.90 $103.38 $105.89 $150.32 $101.23 $135.63 $127.03 $129.00 $129.00 $129.00 $1,115.91 No of Years 10 Total Dividends 12/31/14
Share Value $1,010.93 $965.35 $1,157.99 $1,238.40 $1,180.78 $1,637.44 $1,783.64 $1,787.08 $1,566.06 $1,650.34 $1,734.62 $1,672.70 $1,672.70 $1,672.70 $1,734.62 No of Years 10 Share Value $23.51
Total $2,850.53 Total Return
Graham Number AEPS $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 #DIV/0! #DIV/0! <-Total Growth 10 Graham Number AEPS
Increase #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! <-Median-> 0 Increase
Price/GP Ratio Med #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! <-Median-> 0 Price/GP Ratio Med
Price/GP Ratio High #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! <-Median-> 0 Price/GP Ratio High
Price/GP Ratio Low #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! <-Median-> 0 Price/GP Ratio Low
Price/GP Ratio Close #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! <-Median-> 0 Price/GP Ratio Close
Prem/Disc Close #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! <-Median-> 0 Graham Price
Graham Number EPS $12.19 $17.80 $13.84 $14.49 $22.87 $23.92 $21.10 $22.48 $23.54 $24.01 $27.08 $31.58 $28.30 $32.13 $33.93 #DIV/0! 104.38% <-Total Growth 10 Graham Number EPS
Increase 35.68% 46.03% -22.24% 4.68% 57.79% 4.60% -11.77% 6.50% 4.74% 1.98% 12.82% 16.59% -10.39% 13.54% 5.61% #DIV/0! 4.71% <-Median-> 10 Increase
Price/GP Ratio Med 1.35 1.09 1.68 1.40 1.13 1.10 1.31 1.59 1.31 1.93 1.45 1.16 1.42 1.26 1.35 <-Median-> 10 Price/GP Ratio Med
Price/GP Ratio High 1.54 1.33 1.87 1.64 1.40 1.25 1.42 1.98 1.76 2.20 1.68 1.28 1.59 1.30 1.61 <-Median-> 10 Price/GP Ratio High
Price/GP Ratio Low 1.16 0.86 1.50 1.15 0.85 0.95 1.21 1.20 0.85 1.65 1.21 1.05 1.25 1.21 1.18 <-Median-> 10 Price/GP Ratio Low
Price/GP Ratio Close 1.54 1.27 1.70 1.55 1.18 1.20 1.30 1.69 1.76 1.73 1.34 1.22 1.43 1.21 1.15 #DIV/0! 1.39 <-Median-> 10 Price/GP Ratio Close
Prem/Disc Close 54.19% 26.93% 69.81% 54.91% 17.76% 20.40% 30.11% 69.43% 76.20% 73.12% 34.47% 21.54% 42.57% 21.08% 14.65% #DIV/0! 38.52% <-Median-> 10 Graham Price
Based on EPS 3 Yrs EPS $13.55 $14.60 $14.87 $15.84 $17.98 $19.20 $21.39 $23.40 $23.15 $22.92 $26.34 $27.68 $29.15 $30.77 $31.69 #DIV/0! 95.95% <-Total Growth 10 Based on EPS 3 Yrs EPS
Increase 1.86% 7.78% 1.86% 6.51% 13.47% 6.80% 11.39% 9.41% -1.08% -0.99% 14.92% 5.11% 5.28% 5.58% 2.98% #DIV/0! 6.65% <-Median-> 10 Increase
Price/GP Ratio Med 1.22 1.33 1.57 1.28 1.43 1.38 1.29 1.53 1.33 2.02 1.49 1.33 1.38 1.31 137.56% <-Median-> 10 Price/GP Ratio Med
Price/GP Ratio High 1.39 1.62 1.74 1.50 1.78 1.56 1.40 1.91 1.79 2.31 1.73 1.46 1.54 1.36 1.65 <-Median-> 10 Price/GP Ratio High
Price/GP Ratio Low 1.04 1.04 1.39 1.05 1.08 1.19 1.19 1.16 0.87 1.73 1.24 1.19 1.21 1.27 1.19 <-Median-> 10 Price/GP Ratio Low
Price/GP Ratio Close 1.39 1.55 1.58 1.42 1.50 1.50 1.28 1.63 1.79 1.81 1.38 1.39 1.38 1.26 1.23 #DIV/0! 1.46 <-Median-> 10 Price/GP Ratio Close
Prem/Disc Close 38.76% 54.76% 58.06% 41.71% 49.81% 50.01% 28.40% 62.74% 79.19% 81.33% 38.28% 38.63% 38.40% 26.41% 22.75% #DIV/0! 0.46 <-Median-> 10 Graham Price
Month, Year 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 Dec-26 Dec-27 24.00 <Count Years> 24 Month, Year
Price Close $18.80 $22.60 $23.51 $22.45 $26.93 $28.80 $27.46 $38.08 $41.48 $41.56 $36.42 $38.38 $40.34 $38.90 $38.90 $38.90 71.59% <-Total Growth 10 Stock Price
Increase 7.74% 20.21% 4.03% -4.51% 19.96% 6.94% -4.65% 38.67% 8.93% 0.19% -12.37% 5.38% 5.11% -3.57% 0.00% 0.00% 10.98 <-Median-> 10 CAPE (10 Yr P/E)
P/E Ratio 10.68 8.22 14.51 13.13 8.21 8.42 10.06 13.13 13.29 12.99 11.21 9.25 12.11 9.98 8.95 #DIV/0! 1.16% <-IRR #YR-> 5 Stock Price 5.93%
Trailing P/E Ratio 17.09 12.84 8.55 13.86 15.75 8.78 8.03 13.95 14.30 13.32 11.38 11.81 9.72 11.68 9.98 8.95 5.55% <-IRR #YR-> 10 Stock Price 71.59%
CAPE (10 Yr P/E) 9.12 9.48 10.21 10.97 11.01 11.05 11.06 11.00 10.77 10.78 #DIV/0! 8.55% <-IRR #YR-> 5 Price & Dividend 43.80%
Median 10, 5 Yrs D.  per yr 8.53% 7.39% % Tot Ret 60.60% 86.43% T P/E $12.56 $11.81 P/E:  $11.66 $12.11 -9.17% Diff M/C 14.08% <-IRR #YR-> 10 Price & Dividend 181.97%
Price 15 D.  per yr 7.75% % Tot Ret 59.93% CAPE Diff -9.14% 5.18% <-IRR #YR-> 15 Stock Price 113.33%
Price  20 D.  per yr 8.62% % Tot Ret 58.22% 6.18% <-IRR #YR-> 18 Stock Price #DIV/0!
Price & Dividend 15 12.93% <-IRR #YR-> 15 Price & Dividend 288.83%
Price & Dividend 20 14.80% <-IRR #YR-> 18 Price & Dividend #DIV/0!
Price  5 -$38.08 $0.00 $0.00 $0.00 $0.00 $40.34 Price  5 TD bank
Price 10 -$23.51 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $40.34 Price 10 POW 30
Price & Dividend 5 -$38.08 $2.46 $3.50 $2.35 $3.15 $43.29 Price & Dividend 5
Price & Dividend 10 -$23.51 $1.50 $1.70 $3.06 $2.86 $2.40 $2.46 $3.50 $2.35 $3.15 $43.29 Price & Dividend 10 to year 35
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 $40.34 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 $40.34 Price  20
Price & Dividend 15 $1.26 $1.38 $1.48 $1.50 $1.70 $3.06 $2.86 $2.40 $2.46 $3.50 $2.35 $3.15 $43.29 Price & Dividend 15 Price  35
Price & Dividend 20 $1.26 $1.38 $1.48 $1.50 $1.70 $3.06 $2.86 $2.40 $2.46 $3.50 $2.35 $3.15 $43.29 Price & Dividend 20 Price  40
Price H/L Median $16.47 $19.49 $23.32 $20.25 $25.74 $26.42 $27.67 $35.84 $30.80 $46.27 $39.15 $36.73 $40.08 $40.35 71.87% <-Total Growth 10 Stock Price
Increase -1.08% 18.34% 19.65% -13.19% 27.12% 2.66% 4.73% 29.51% -14.05% 50.23% -15.40% -6.18% 9.14% 0.66% 2.26% <-IRR #YR-> 5 Stock Price 11.85%
P/E Ratio 9.36 7.09 14.40 11.84 7.85 7.73 10.14 12.36 9.87 14.46 12.04 8.85 12.04 10.35 5.56% <-IRR #YR-> 10 Stock Price 71.87%
Trailing P/E Ratio 14.97 11.07 8.48 12.50 15.05 8.05 8.09 13.13 10.62 14.83 12.23 11.30 9.66 12.12 9.96% <-IRR #YR-> 5 Price & Dividend 11.85%
P/E on Running 5 yr Average 8.16 8.83 11.75 11.32 11.57 10.34 10.84 12.76 9.97 15.05 12.88 11.05 11.75 11.32 14.16% <-IRR #YR-> 10 Price & Dividend 183.15%
P/E on Running 10 yr Average 11.55 11.63 14.96 12.63 17.47 13.99 12.50 12.89 12.12 10.14 P/E Ratio Historical Median 52.09%
Median 10, 5 Yrs D.  per yr 7.69% 8.60% % Tot Ret 77.26% 60.70% T P/E 11.77 11.30 P/E:  10.99 12.04 Count 18 Years of data
-$35.84 $0.00 $0.00 $0.00 $0.00 $40.08
-$23.32 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $40.08
-$35.84 $2.46 $3.50 $2.35 $3.15 $43.03
-$23.32 $1.50 $1.70 $3.06 $2.86 $2.40 $2.46 $3.50 $2.35 $3.15 $43.03
High Months Dec Nov Mar Jan Sep Jan Aug Nov Dec May Feb  May Nov Jan
Price High $18.80 $23.73 $25.90 $23.80 $31.97 $30.00 $29.89 $44.60 $41.52 $52.90 $45.58 $40.40 $44.87 $41.70 73.24% <-Total Growth 10 Stock Price
Increase -2.34% 26.22% 9.14% -8.11% 34.33% -6.16% -0.37% 49.21% -6.91% 27.41% -13.84% -11.36% 11.06% -7.06% 0.12% <-IRR #YR-> 5 Stock Price 0.61%
P/E Ratio 10.68 8.63 15.99 13.92 9.75 8.77 10.95 15.38 13.31 16.53 14.02 9.73 13.47 10.70 5.65% <-IRR #YR-> 10 Stock Price 73.24%
Trailing P/E Ratio 17.09 13.48 9.42 14.69 18.70 9.15 8.74 16.34 14.32 16.96 14.24 12.43 10.81 12.52 13.31 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 14.28 14.24 P/E:  13.39 13.47 18.25 P/E Ratio Historical High
-$44.60 $0.00 $0.00 $0.00 $0.00 $44.87
-$25.90 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $44.87
Low Months Jun $18.80 Oct Aug Jan Apr Apr Jan Mar Dec Jun Oct Jun Jan
Price Low $14.14 $15.25 $20.74 $16.69 $19.50 $22.84 $25.45 $27.07 $20.08 $39.64 $32.71 $33.05 $35.29 $38.99 70.15% <-Total Growth 10 Stock Price
Increase 0.64% 7.85% 36.00% -19.53% 16.84% 17.13% 11.43% 6.37% -25.82% 97.41% -17.48% 1.04% 6.78% 10.48% 5.45% <-IRR #YR-> 5 Stock Price 30.37%
P/E Ratio 8.03 5.55 12.80 9.76 5.95 6.68 9.32 9.33 6.44 12.39 10.06 7.96 10.60 10.00 5.46% <-IRR #YR-> 10 Stock Price 70.15%
Trailing P/E Ratio 12.85 8.66 7.54 10.30 11.40 6.96 7.44 9.92 6.92 12.71 10.22 10.17 8.50 11.71 9.32 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 10.04 10.17 P/E:  9.33 10.06 4.20 P/E Ratio Historical Low
-$20.74 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $35.29
Free Cash Flow WSJ -$297.96 $525.93 -$175.63 -$350.86 $141.52 -$54.69 -$483.69 -175.40% <-Total Growth 6 Free Cash Flow WSJ
Change #DIV/0! 276.51% -133.39% -99.77% 140.34% -138.65% -784.35% #DIV/0! <-Median-> 6 Change
Free Cash Flow MS old $9.92 -$135.64 $190.05 -$339.97 $452.82 -$250.65 -$434.85 $496.78
Change
Free Cash Flow MS -$239.02 $126.91 $190.44 $168.19 $111.67 $102.38 $31.30 $72.88 $2.87 $126.61 $160.71 167.24% <-Total Growth 10 Free Cash Flow MS
Change 153.10% 50.06% -11.68% -33.60% -8.32% -69.43% 132.84% -96.06% 4311.50% 26.93% 9.44% <-IRR #YR-> 5 Free Cash Flow MS 56.97%
FCF/CF from Op Ratio 1.04 9.46 -1.45 0.87 -0.36 0.22 0.12 0.18 0.01 -1.22 -0.21 #NUM! <-IRR #YR-> 10 Free Cash Flow MS 167.24%
Free Cash Flow Yield -0.17 0.09 0.12 0.10 0.07 0.04 0.01 0.03 0.00 0.06 0.07 6.07% <-Median-> 10 Free Cash Flow Yield
Dividends paid $95.85 $97.19 $103.88 $188.07 $174.03 $142.16 $150.62 $212.31 $144.01 $192.88 $181.12 88.95% <-Total Growth 10 Dividends paid
Percentage paid -40.10% 76.58% 54.54% 111.82% 155.84% 138.86% 481.22% 291.31% 5017.84% 152.34% 112.70% $1.46 <-Median-> 10 Percentage paid
5 Year Coverage 183.98% 100.82% 125.63% 178.28% 256.35% 250.56% 223.38% 5 Year Coverage
Dividend Coverage Ratio -2.49 1.31 1.83 0.89 0.64 0.72 0.21 0.34 0.02 0.66 0.89 0.69 <-Median-> 10 Dividend Coverage Ratio
5 Year of Coverage 0.54 0.99 0.80 0.56 0.39 0.40 0.45 5 Year of Coverage
Market Cap in $M $1,127.4 $1,355.3 $1,409.8 $1,346.3 $1,614.9 $1,727.1 $1,646.7 $2,283.6 $2,487.4 $2,492.2 $2,184.0 $2,301.5 $2,419.1 $2,332.7 $2,332.7 $0.0 71.59% <-Total Growth 10 Market Cap 71.59%
Diluted # of Shares in Millions 59.97 59.97 59.97 59.967 59.967 59.967 59.967 59.967 59.967 59.967 59.97 59.97 59.97 59.97 59.97 59.97 0.00% <-Total Growth 10 Diluted # of Shares in Million
Change 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% 0.00% 0.00% <-IRR #YR-> 10 Change
Difference Diluted/Basic 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.00% <-IRR #YR-> 5 Difference Diluted/Basic
Change in Diluted Shares per Year
-60.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 60.0
-60.0 0.0 0.0 0.0 0.0 60.0
Basic # of Shares in Millions 59.97 59.97 59.97 59.97 59.967 59.967 59.967 59.967 59.967 59.967 59.97 59.97 59.97 59.97 59.97 59.97 0.00% <-Total Growth 10 Basic
Change 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% 0.00% 0.00% <-Median-> 10 Change
Difference Basic/Outstanding 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% -100.00% 0.00% <-Median-> 10 Difference Basic/Outstanding
Preferred Shares 4.000 4.000 4.000
# of Share in Millions 59.97 59.97 59.97 59.967 59.967 59.967 59.967 59.967 59.967 59.967 59.97 59.967 59.967 59.967 59.967 0.00% <-IRR #YR-> 10 Shares 0.00%
Change 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% 0.00% <-IRR #YR-> 5 Shares 0.00%
Cash Flow from Operations $M $166.0 -$150.7 -$230.7 $13.4 -$131.0 $194.3 -$311.0 $458.7 $251.0 $402.9 $509.2 -$103.5 -$763.7 -$763.7 <-12 mths -231.03% <-Total Growth 10 Cash Flow
Increase 136.38% -190.76% -53.12% 105.82% -1076.45% 248.32% -260.03% 247.51% -45.29% 60.54% 26.37% -120.33% -637.85% 0.00% <-12 mths Why increase decrease
5 year Running Average -$19.9 -$65.9 -$95.4 -$131.7 -$66.6 -$60.9 -$93.0 $44.9 $92.4 $199.2 $262.1 $303.6 $59.2 -$143.8 <-12 mths 162.02% <-Total Growth 10 CF 5 Yr Running
CFPS $2.77 -$2.51 -$3.85 $0.22 -$2.18 $3.24 -$5.19 $7.65 $4.18 $6.72 $8.49 -$1.73 -$12.74 -$12.74 <-12 mths -231.03% <-Total Growth 10 Cash Flow per Share
Increase 136.38% -190.76% -53.12% 105.82% -1076.45% 248.32% -260.03% 247.51% -45.29% 60.54% 26.37% -120.33% -637.85% 0.00% <-12 mths 12.72% <-IRR #YR-> 10 Cash Flow -231.03%
5 year Running Average -$0.33 -$1.10 -$1.59 -$2.20 -$1.11 -$1.02 -$1.55 $0.75 $1.54 $3.32 $4.37 $5.06 $0.99 -$2.40 <-12 mths #NUM! <-IRR #YR-> 5 Cash Flow -266.50%
P/CF on Med Price 5.95 -7.76 -6.06 90.49 -11.78 8.15 -5.34 4.68 7.36 6.89 4.61 -21.28 -3.15 -3.17 <-12 mths 12.72% <-IRR #YR-> 10 Cash Flow per Share -231.03%
P/CF on Closing Price 6.79 -8.99 -6.11 100.34 -12.33 8.89 -5.30 4.98 9.91 6.19 4.29 -22.24 -3.17 -3.05 <-12 mths #NUM! <-IRR #YR-> 5 Cash Flow per Share -266.50%
-165.72% Diff M/C #NUM! <-IRR #YR-> 10 CFPS 5 yr Running 162.02%
Excl.Working Capital CF -$42.0 $272.6 $305.4 $117.0 $326.1 -$21.9 $425.3 -$381.8 $377.3 $445.1 -$639.1 $346.2 $926.3 $0.0 <-12 mths 5.67% <-IRR #YR-> 5 CFPS 5 yr Running 31.78%
Cash Flow from Operations $M WC $124.1 $122.0 $74.7 $130.4 $195.1 $172.4 $114.3 $76.9 $628.2 $848.0 -$129.9 $242.7 $162.5 -$763.7 <-12 mths 117.62% <-Total Growth 10 Cash Flow less WC
Increase 95.09% -1.68% -38.77% 74.61% 49.59% -11.60% -33.72% -32.76% 717.32% 34.99% -115.32% 286.82% -33.03% -569.88% <-12 mths 8.09% <-IRR #YR-> 10 Cash Flow less WC 117.62%
5 year Running Average $128.2 $104.5 $101.8 $102.9 $129.2 $138.9 $137.4 $137.8 $237.4 $368.0 $307.5 $333.2 $350.3 $71.9 <-12 mths 16.16% <-IRR #YR-> 5 Cash Flow less WC 111.46%
CFPS Excl. WC $2.07 $2.03 $1.25 $2.17 $3.25 $2.88 $1.91 $1.28 $10.48 $14.14 -$2.17 $4.05 $2.71 -$12.74 <-12 mths 13.15% <-IRR #YR-> 10 CF less WC 5 Yr Run 244.03%
Increase 95.09% -1.68% -38.77% 74.61% 49.59% -11.60% -33.72% -32.76% 717.32% 34.99% -115.32% 286.82% -33.03% -569.88% <-12 mths 20.51% <-IRR #YR-> 5 CF less WC 5 Yr Run 154.18%
5 year Running Average $2.14 $1.74 $1.70 $1.72 $2.16 $2.32 $2.29 $2.30 $3.96 $6.14 $5.13 $5.56 $5.84 $1.20 <-12 mths 8.09% <-IRR #YR-> 10 CFPS - Less WC 117.62%
P/CF on Median Price 7.96 9.58 18.72 9.31 7.91 9.19 14.52 27.96 2.94 3.27 -18.07 9.07 14.79 -3.17 <-12 mths 16.16% <-IRR #YR-> 5 CFPS - Less WC 111.46%
P/CF on Closing Price 9.09 11.11 18.88 10.32 8.28 10.02 14.41 29.71 3.96 2.94 -16.81 9.48 14.88 -3.05 <-12 mths 13.15% <-IRR #YR-> 10 CFPS 5 yr Running 244.03%
*Operational Cash Flow. CF/-WC P/CF Med 10 yr 4.65 5 yr  4.61 P/CF Med 10 yr 9.13 5 yr  3.27 -133.45% Diff M/C 20.51% <-IRR #YR-> 5 CFPS 5 yr Running 154.18%
$3.85 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 -$12.74 Cash Flow per Share
-$7.65 $0.00 $0.00 $0.00 $0.00 -$12.74 Cash Flow per Share
$1.59 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.99 CFPS 5 yr Running
-$0.75 $0.00 $0.00 $0.00 $0.00 $0.99 CFPS 5 yr Running
-$74.7 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $162.5 Cash Flow less WC
-$76.9 $0.0 $0.0 $0.0 $0.0 $162.5 Cash Flow less WC
-$101.8 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $350.3 CF less WC 5 Yr Run
-$137.8 $0.0 $0.0 $0.0 $0.0 $350.3 CF less WC 5 Yr Run
-$1.25 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.71 CFPS - Less WC
-$1.28 $0.00 $0.00 $0.00 $0.00 $2.71 CFPS - Less WC
For banks, use Net Income, not CF
OPM Ratio 43.47% -33.24% -62.63% 3.14% -23.64% 34.28% -58.08% 78.08% 37.34% 52.71% 60.98% -11.44% -90.40% -82.35% -44.35% <-Total Growth 10 OPM
Increase 126.65% -176.47% -88.41% 105.02% -851.81% 244.99% -269.41% 234.45% -52.18% 41.18% 15.68% -118.76% -690.27% 8.91% Should increase  or be stable.
Diff from Median 132% -278% -435% -83% -226% 83% -410% 317% 100% 182% 226% -161% -583% -540% 0.00 <-Median-> 10 OPM
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 18.71% 5 Yrs 37.34% should be  zero, it is a   check on calculations
Adjusted EBITDA (Pre-FMV) $153.20 $197.58 $183.13 $209.93 $253.54 $234.28 $225.2 $251.3 $323.0 $257.3 $208.8 $322.2 $290.3 58.53% <-Total Growth 10 Adjusted EBITDA
Change 22.47% 28.97% -7.31% 14.64% 20.77% -7.60% -3.88% 11.59% 28.54% -20.35% -18.86% 54.33% -9.89% 3.85% <-Median-> 10 Change
EBITDA Margin 40.12% 43.59% 49.71% 49.20% 45.75% 41.33% 42.06% 42.78% 48.06% 33.66% 25.00% 35.61% 34.37% 0.42 <-Median-> 10 EBITDA Margin
$271 <-12 mths -2.13%
EBT $140.3 $148.7 $274.1 $285.4 $227.4 $241.7 $258.7 $263.8 $269.1 $343.9 $276.6 $322.00 $359.40 97.14% <-Total Growth 10 EBT
Change 5.97% 84.38% 4.11% -20.32% 6.29% 7.03% 1.97% 2.01% 27.80% -19.57% 16.41% 11.61% 5.04% <-Median-> 10 Change Earnings before Taxes
EBT Margin 38.09% 34.85% 49.47% 50.35% 42.47% 41.15% 38.49% 34.51% 32.23% 38.01% 32.74% 34.72% 36.90% 0.38 <-Median-> 10 EBT Margin
Covering Assets $14,903 $20,459 $25,893 $27,808 $30,351 $32,735 $35,994 $38,092 $39,306 $41,984 $43,447 $45,638 $50,817 $50,817
Change 26.27% 37.28% 26.56% 7.40% 9.15% 7.85% 9.96% 5.83% 3.19% 6.81% 3.48% 5.04% 11.35% 0.00%
Debt/Market Cap Ratio 0.98 0.98 0.98 0.98 0.98 0.98 0.98 0.97 0.98 0.99 0.98 0.98 0.98 0.98
Long Term Debt $14,592 $19,997 $25,351 $27,279 $29,635 $32,033 $35,302 $37,037 $38,653 $41,385 $42,669 $44,736 $49,963 $49,963 97.09% <-Total Growth 10 Debt Type
Change 26.38% 37.05% 26.77% 7.60% 8.64% 8.09% 10.20% 4.92% 4.36% 7.07% 3.10% 4.84% 11.68% 0.00% 7.34% <-Median-> 10 Change Lg Term R A
Debt/Market Cap Ratio 12.94 14.76 17.98 20.26 18.35 18.55 21.44 16.22 15.54 16.61 19.54 19.44 20.65 21.42 18.99 <-Median-> 10 Debt/Market Cap Ratio Lg Term R
Assets/Current Liabilities Ratio 251.21 309.66 274.57 223.37 248.12 277.57 289.57 251.39 212.56 190.11 177.55 161.06 179.86 155.47 217.97 <-Median-> 10 Assets/Current Liab Ratio Intang/GW
Current Liabilities/Asset Ratio 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.01 0.01 0.00 <-Median-> 10 Current Liab/Asset Ratio Liquidity
Debt to Cash Flow (Years) 87.90 0.00 0.00 2033.14 0.00 164.86 0.00 80.74 154.02 102.72 83.80 0.00 0.00 0.00 82.27 <-Median-> 10 Debt to Cash Flow (Years) Liq. + CF
Debt Ratio
Intangibles $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 #DIV/0! <-Total Growth 10 Intangibles Bk Leverage
Goodwill $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 #DIV/0! <-Total Growth 10 Goodwill Leverage
Total $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 #DIV/0! <-Total Growth 10 Total D/E Ratio
Change 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 Change
Intangible/Market Cap Ratio 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 Intangible/Market Cap Ratio
Current Assets $335.0 $491.2 $567.9 $527.1 $708.2 $627.9 $653.0 $765.2 $757.4 $1,018.5 $881.1 $835.7 $1,195.5 $794.0 110.51% <-Total Growth 10 Current Assets
Current Liabilities $59.7 $66.4 $94.5 $125.0 $122.5 $118.1 $124.5 $149.9 $185.8 $222.4 $246.5 $285.3 $284.4 $290.6 200.91% <-Total Growth 10 Current Liabilities
Liquidity Ratio 5.61 7.40 6.01 4.22 5.78 5.32 5.25 5.10 4.08 4.58 3.57 2.93 4.20 2.73 4.40 <-Median-> 10 Ratio
Liq. with CF aft div 7.12 6.84 5.75 3.60 5.43 5.41 3.51 7.20 4.63 5.45 5.07 2.52 3.79 2.47 4.63 <-Median-> 5 Liq. with CF aft div If Div = 0
Liq. with CF aft div (WC) 3.39 4.12 3.51 3.05 4.02 2.65 2.59 2.86 4.16 4.32 1.94 2.27 2.94 0.06 Liq. with CF aft div (WC)
Liq. CF re  Inv+Div  6.39 6.26 3.83 3.37 4.83 2.21 2.23 2.41 4.36 4.17 3.41 2.23 3.90 2.13 3.90 <-Median-> 5 Liq. CF re  Inv+Div 
Curr Long Term Debt $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.0 <-Median-> 5 Curr Long Term Debt
Liquidity Less CLTD 5.61 7.40 6.01 4.22 5.78 5.32 5.25 5.10 4.08 4.58 3.57 2.93 4.20 2.73 4.08 <-Median-> 5 Liquidity Less CLTD
Liq. with CF aft div 7.12 3.30 3.10 3.60 3.15 5.41 2.21 7.20 4.63 5.45 5.07 1.76 2.59 1.69 4.63 <-Median-> 5 Liq. with CF aft div
Banks usually have a ratio of 1.04 or 1.05
Assets $15,008.6 $20,569.2 $25,953.9 $27,926.7 $30,394 $32,776 $36,037 $37,686 $39,489 $42,274 $43,764 $45,957 $51,157 $45,177 97.11% <-Total Growth 10 Assets
Liabilities $14,686.0 $20,119.3 $25,502.6 $27,469.2 $29,844 $32,233 $35,505 $37,124 $38,918 $41,697 $43,065 $45,220 $50,419 $44,373 97.70% <-Total Growth 10 Liabilities
Debt Ratio 1.02 1.02 1.02 1.02 1.02 1.02 1.01 1.02 1.01 1.01 1.02 1.02 1.01 1.02 1.02 <-Median-> 10 Ratio
Estimates BVPS $12.01 $13.58 Estimates Estimates BVPS
Estimate Book Value $720.2 $814.4 Estimates Estimate Book Value
P/B Ratio (Close) 3.24 2.86 Estimates P/B Ratio (Close)
Difference from 10 year median -14.39% Diff M/C Estimates Difference from 10 yr med.
Book Value $322.50 $449.91 $451.28 $457.53 $550.30 $543.27 $532.24 $561.66 $570.80 $577.41 $698.98 $737.76 $738.21 $803.08
NCI $0.00 $45.29 $38.55 $32.78 $27.96 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Preferred Shares $97.39 $97.39 $97.39 $97.39 $97.39 $97.39 $97.39 $97.39 $97.39 $97.39 $97.39 $97.39 $97.39 $97.39
Net Book Value $225.11 $307.23 $315.34 $327.36 $424.94 $445.87 $434.85 $464.27 $473.41 $480.02 $601.59 $640.37 $640.82 $705.68 $705.7 $705.7 103.21% <-Total Growth 10 Book Value
Book Value per share $3.75 $5.12 $5.26 $5.46 $7.09 $7.44 $7.25 $7.74 $7.89 $8.00 $10.03 $10.68 $10.69 $11.77 $11.77 #DIV/0! 103.21% <-Total Growth 10 Book Value per Share
Increase 15.06% 36.48% 2.64% 3.81% 29.81% 4.93% -2.47% 6.76% 1.97% 1.40% 25.33% 6.45% 0.07% 10.12% 0.00% #DIV/0! -15.28% P/B Ratio Current/Historical Median
P/B Ratio (Median) 4.39 3.80 4.43 3.71 3.63 3.55 3.82 4.63 3.90 5.78 3.90 3.44 3.75 3.43 0.00 #DIV/0! 3.90 P/B Ratio Historical Median
P/B Ratio (Close) 5.01 4.41 4.47 4.11 3.80 3.87 3.79 4.92 5.25 5.19 3.63 3.59 3.78 3.31 3.31 #DIV/0! 7.35% <-IRR #YR-> 10 Book Value per Share 103.21%
Change -6.37% -11.92% 1.35% -8.01% -7.59% 1.92% -2.24% 29.89% 6.83% -1.19% -30.08% -1.00% 5.03% -12.43% 0.00% #DIV/0! 6.66% <-IRR #YR-> 5 Book Value per Share 38.03%
Median 10 year P/B Ratio 4.39 4.35 4.39 4.35 4.31 4.18 3.94 4.06 3.86 3.86 3.86 3.86 3.78 3.78 3.78 #DIV/0! 3.86 <-Median-> 5 Median 10 year P/B Ratio
Banks Says Leverage Ratio is  11.00% 6.00% 6.00%
Leverage (A/BK) 66.67 66.95 82.30 85.31 71.53 73.51 82.87 81.17 83.41 88.07 72.75 71.77 79.83 64.02 0.00 79.83 <-Median-> 5 A/BV
Debt/Equity Ratio 65.24 65.49 80.87 83.91 70.23 72.29 81.65 79.96 82.21 86.87 71.59 70.61 78.68 62.88 0.00 78.68 <-Median-> 5 Debt/Eq Ratio
Shareholders' Equity (Assets less Liabilities) P/B Ratios 10 yr Med 3.78 5 yr Med 3.90 -12.62% Diff M/C 72.75 Historical Leverage (A/BK)
-$5.26 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $10.69
-$7.74 $0.00 $0.00 $0.00 $0.00 $10.69
Total Comprehensive Income $110.33 $169.73 $101.71 $107.12 $199.74 $209.65 $163.31 $176.90 $160.41 $220.19 $266.03 $232.04 $181.75 78.69% <-Total Growth 10 Comprehensive Income
Increase 56.51% 53.84% -40.07% 5.32% 86.47% 4.96% -22.10% 8.32% -9.32% 37.27% 20.82% -12.78% -21.67% -9.32% <-Median-> 5 Comprehensive Income
5 Yr Running Average $112 $138 $158 $156 $171 $182 $186 $197 $211 $212 5.98% <-IRR #YR-> 10 Comprehensive Income 78.69%
ROE 49.0% 55.2% 32.3% 32.7% 47.0% 47.0% 37.6% 38.1% 33.9% 45.9% 44.2% 36.2% 28.4% 0.54% <-IRR #YR-> 5 Comprehensive Income 2.74%
5Yr Median 36.0% 47.0% 47.0% 37.6% 38.1% 38.1% 38.1% 38.1% 38.1% 36.2% 7.37% <-IRR #YR-> 9 5 Yr Running Average #DIV/0!
% Difference from Net Income 4.4% 2.8% 4.8% 4.5% 1.6% 2.1% -0.1% 1.6% -14.4% 14.8% 36.6% -6.8% -8.9% 4.36% <-IRR #YR-> 5 5 Yr Running Average 23.78%
Median Values Diff 5, 10 yr 1.6% -6.8% 36.2% <-Median-> 5 Return on Equity
-$101.7 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $181.7
-$176.9 $0.0 $0.0 $0.0 $0.0 $181.7
-$111.9 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $212.1
-$171.3 $0.0 $0.0 $0.0 $0.0 $212.1
Current Liability Coverage Ratio 2.08 1.84 0.79 1.04 1.59 1.46 0.92 0.51 3.38 3.81 -0.53 0.85 0.57 -2.63   CFO / Current Liabilities
5 year Median 4.86 2.08 1.84 1.10 1.59 1.46 1.04 1.04 1.46 1.46 0.92 0.85 0.85 0.57 0.98 <-Median-> 10 Current Liability Cov Ratio
Asset Efficiency Ratio 0.83% 0.59% 0.29% 0.47% 0.64% 0.53% 0.32% 0.20% 1.59% 2.01% -0.30% 0.53% 0.32% -1.69% CFO / Total Assets
5 year Median 8.24% 0.83% 0.59% 0.53% 0.59% 0.53% 0.47% 0.47% 0.53% 0.53% 0.32% 0.53% 0.53% 0.32% 0.5% <-Median-> 10 Return on Assets 
Return on Assets ROA 0.70% 0.80% 0.37% 0.37% 0.65% 0.63% 0.45% 0.46% 0.47% 0.45% 0.44% 0.54% 0.39% 0.51% Net  Income/Assets Return on Assets
5Yr Median 14.05% 0.80% 0.70% 0.55% 0.65% 0.63% 0.45% 0.46% 0.47% 0.46% 0.45% 0.46% 0.45% 0.45% 0.5% <-Median-> 10 Asset Efficiency Ratio
Return on Equity ROE 46.94% 53.73% 30.78% 31.30% 46.25% 46.05% 37.60% 37.51% 39.58% 39.97% 32.36% 38.88% 31.13% 32.42% Net Inc/ Shareholders' equity Return on Equity
5Yr Median 61.76% 53.73% 46.94% 33.82% 46.25% 46.05% 37.60% 37.60% 39.58% 39.58% 37.60% 38.88% 38.88% 32.42% 38.2% <-Median-> 10 Return on Equity
$194 <-12 mths -2.76%
Net Income $110.33 $169.73 $101.71 $107.12 $199.74 $208.08 $166.43 $177.21 $190.23 $194.56 $197.73 $252.81 $203.39 $232.70 $260.40
Preferred Shares $4.65 $4.65 $4.65 $4.65 $3.21 $2.75 $2.93 $3.06 $2.85 $2.70 $3.04 $3.86 $3.90 $3.90 $3.90 See Earnings per Share
Net Income Shareholders $105.68 $165.08 $97.06 $102.47 $196.53 $205.33 $163.50 $174.16 $187.38 $191.87 $194.69 $248.95 $199.49 $228.80 $256.50 105.54% <-Total Growth 10 Net Income
Increase 59.69% 56.21% -41.20% 5.57% 91.80% 4.48% -20.37% 6.52% 7.59% 2.39% 1.47% 27.87% -19.87% 14.69% 12.11% EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average $121.0 $132.4 $119.1 $107.3 $133.4 $153.3 $153.0 $168.4 $185.4 $184 $182 $199 $204 $213 $226 7.47% <-IRR #YR-> 10 Net Income 105.54%
Operating Cash Flow $166.0 -$150.7 -$230.7 $13.4 -$131.0 $194.3 -$311.0 $458.7 $251.0 $402.9 $509.2 -$103.5 -$763.7 2.75% <-IRR #YR-> 5 Net Income 14.55%
Investment Cash Flow $5.5 $29.7 -$48.3 -$31.8 -$11.1 -$175.0 -$174.9 -$199.6 $145.8 -$12.7 -$52.9 -$77.4 $105.4 5.56% <-IRR #YR-> 10 5 Yr Running Average 71.71%
Total Accruals -$65.8 $286.0 $376.1 $120.9 $338.6 $186.0 $649.4 -$84.9 -$209.4 -$198.3 -$261.6 $429.9 $857.8 3.96% <-IRR #YR-> 5 5 Yr Running Average 21.43%
Total Assets $15,008.6 $20,569.2 $25,953.9 $27,926.7 $30,394.5 $32,776.3 $36,037.1 $37,685.6 $39,488.5 $42,274.2 $43,763.7 $45,957.4 $51,157.1 Balance Sheet Assets
Accruals Ratio -0.44% 1.39% 1.45% 0.43% 1.11% 0.57% 1.80% -0.23% -0.53% -0.47% -0.60% 0.94% 1.68% -0.47% <-Median-> 5 Ratio
EPS/CF Ratio (WC) 0.85 1.35 1.30 0.79 1.01 1.19 1.43 2.26 0.30 0.23 0.00 1.03 1.23 1.02 <-Median-> 10 EPS/CF Ratio
-$97.1 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $199.5
-$174.2 $0.0 $0.0 $0.0 $0.0 $199.5
-$119.1 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $204.5
-$168.4 $0.0 $0.0 $0.0 $0.0 $204.5
Change in Close 7.74% 20.21% 4.03% -4.51% 19.96% 6.94% -4.65% 38.67% 8.93% 0.19% -12.37% 5.38% 5.11% -3.57% 0.00% 0.00% Count 19 Years of data
up/down Down Count 2 10.53%
Meet Prediction? % right Count 1 50.00%
Financial Cash Flow -$275.9 $1.7 -$56.4 $45.3 $96.5 -$34.6 -$138.5 -$138.5 $220.1 $133.0 -$556.7 $163.8 $663.7 C F Statement  Financial Cash Flow
Total Accruals $210.1 $284.4 $432.4 $75.6 $242.1 $220.6 $787.8 $53.6 -$429.5 -$331.3 $295.1 $266.1 $194.1 Accruals
Accruals Ratio 1.40% 1.38% 1.67% 0.27% 0.80% 0.67% 2.19% 0.14% -1.09% -0.78% 0.67% 0.58% 0.38% 0.38% <-Median-> 5 Ratio
Cash -$185.0 -$274.5 -$609.9 -$583.0 -$628.5 -$643.8 -$918.3 -$797.8 -$682.8 -$965.4 -$1,065.9 -$1,083.0 -$1,077.6 -$1,077.6 Cash
Cash per Share -$3.09 -$4.58 -$10.17 -$9.72 -$10.48 -$10.74 -$15.31 -$13.30 -$11.39 -$16.10 -$17.77 -$18.06 -$17.97 -$17.97 -$17.77 <-Median-> 5 Cash per Share
Percentage of Stock Price -16.41% -20.25% -43.26% -43.30% -38.92% -37.28% -55.77% -34.93% -27.45% -38.74% -48.80% -47.06% -44.55% -46.20% -44.55% <-Median-> 5 % of Stock Price
Notes:
March 22, 2025. Last estimates were for 2022, 2024, 2025 of 900.3, $940.8M, $993.2M Revenue., $4.24 $4.24 and $4.75 EPS, 
$2.78, $2.47 and 2.86 Dividends, $253.2, $255.5 and $286.5 for Net Income.
2011 - First National Financial Corporation (TSX: FN) wholly owns First National Financial LP.
On January 25, 2011, the Company issued 4 million Class A Series 1 Preferred Shares at a price of $25.00 per share for gross proceeds of
$100,000 before issue expenses
2010 -  First National Financial Corporation (TSX:FN) is the successor to First National Financial Income Fund, and its wholly-owned subsidiary, First National 
Financial LP, is a Canadian-based originator, underwriter and servicer of predominantly prime residential (single-family and multi-unit) and commercial mortgages. 
During 2010, the Company successfully transitioned from an income trust structure to a dividend-paying corporation, while maintaining its positive trend of strong financial results.
Earnings before income taxes and gains and losses on financial instruments (“Pre-FMV Income) is a non-IFRS measure that adjusts income before income taxes by 
eliminating the impact of changes in fair value by adding back losses on the valuation of financial instruments (except those on mortgage investments) and 
deducting gains on the valuation of financial instruments (except those on mortgage investments). See Non-GAAP measures.
Sector:
Financial Services, Financial 
What should this stock accomplish?
Would I buy this company and Why.
Why am I following this stock. 
I found this stock looking through dividend Stocks on G&M Stock Screener.  It is also on the Dividend Aristocrat list, but not on the Money Sense list.
Why I bought this stock.
Note:
Dividends
Dividends are paid Monthly.    Dividends are declared in one month for shareholders of record of that month and paid in the next month.
For example, the dividends declared on February 15 was for shareholders of record of February 28 and paid on March 15, 2023
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.
First National Financial Corp is a Canadian originator, underwriter, and servicer of predominantly prime residential and commercial mortgages. 
The Company operates in two business segments, Residential and Commercial. These segments are organized by mortgage type and contain 
revenue and expenses related to origination, underwriting, securitization and servicing activities. It derives maximum revenue from Residential segment
Shares; '%, Value $M From Years Div. Gth Tot Ret Cap Gain Div. check Shares %, Val $M Shares %, Val $M Shares %, Val $M Update this each year?? Change
Date 2017 5 7.85% 13.46% 4.81% 8.66% 13.47% 2023 Feb 11 2024 Mar 2025
Ellis, Jason 2012 10 6.53% 15.43% 6.84% 8.59% 15.43% 0.002 0.00% 0.002 0.00% 0.002 0.00% 0.00%
CEO - Shares - Amount 2007 15 10.50% 15.53% 6.63% 8.90% 15.53% $0.073 $0.077 $0.081
Options - percentage 2002 16 10.25% 14.88% 6.30% 8.58% 14.88% 0.000 0.00% 0.000 0.00% 0.000 0.00% #DIV/0!
Options - amount $0.000 $0.000 $0.000
Preferred Shares From Years Div. Gth Tot Ret Cap Gain Div. check 0.000 $0.000 0.000 0.00% #DIV/0!
2018 5 5.33% 15.76% 6.93% 8.83% 15.76%
Inglis, Robert 2013 10 5.73% 13.68% 5.44% 8.24% 13.68% 0.008 0.01% 0.008 0.01% 0.008 0.01% 0.00%
CFO - Shares - Amount 2008 15 4.23% 20.15% 9.03% 11.12% 20.15% $0.278 $0.293 $0.308
Options - percentage 2003 17 11.89% 14.85% 6.25% 8.61% 14.85% 0.000 0.00% 0.000 0.00% 0.000 0.00% #DIV/0!
Options - amount $0.000 $0.000 $0.000
Preferred Shares From Years Div. Gth Tot Ret Cap Gain Div. check 0.009 $0.002 0.009 0.23% 0.00%
2019 5 5.21% 8.55% 1.16% 7.39% 8.55%
Wedgbury, Jeremy 2014 10 5.22% 14.08% 5.55% 8.53% 14.08% 0.005 0.01% 0.005 0.01% 0.000 0.00% -100.00%
Officer - Shares - Amount 2009 15 3.91% 12.93% 5.18% 7.75% 12.93% $0.182 $0.192 $0.000
Options - percentage 2004 18 11.32% 14.80% 6.18% 8.62% 14.80% 0.000 0.00% 0.000 0.00% 0.000 0.00% #DIV/0!
Options - amount $0.000 $0.000 $0.000
Tawse, Moray 20.409 34.03% 20.404 34.03% 20.404 34.03% 0.00%
Director - Shares - Amount $743.309 $783.119 $823.112
Options - percentage 0.000 0.00% 0.000 0.00% 0.000 0.00% #DIV/0!
Options - amount $0.000 $0.000 $0.000
Preferred Shares 0.409 10.23% 0.409 10.23% 0.00%
Jackman, Duncan Newton Rowell 0.011 0.02% 0.011 0.02% 0.011 0.02% 0.00%
Director - Shares - Amount $0.401 $0.422 $0.444
Options - percentage 0.000 0.00% 0.000 0.00% 0.000 0.00% #DIV/0!
Options - amount $0.000 $0.000 $0.000
Smith, Stephen 22.409 37.37% 22.409 37.37% 22.409 37.37% 0.00%
Chairman - Shares - Amt $816.149 $860.071 $903.993
Options - percentage 0.000 0.00% 0.000 0.00% 0.000 0.00% #DIV/0!
Options - amount $0.000 $0.000 $0.000
Insiders own 42.834 71.43%
Increase in O/S Shares 0.000 0.00% 0.000 0.00% No stock options I can see
Due to Stock Options $0.000 $0.000
Book Value $0.000 $0.000
Insider Buying -$0.078 -$0.368
Insider Selling $0.000 $0.000
Net Insider Selling -$0.078 -$0.368
Net Selling % of Market Cap 0.00% -0.02%
Directors 9 9
Women 3 33% 3 33%
Minorities 0 0% 0 0%
Institutions/Holdings 20 4.03% 20 4.40%
Total Shares Held 2.415 4.03% 2.637 4.40%
Increase/Decrease 3 Mths 0.040 1.67% 0.033 1.25%
Starting No. of Shares 2.375 2.604
Copyright © 2008 Website of SPBrunner. All rights reserved.