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
See my website on stocks or see my blog at the following sites.  www.spbrunner.com/stocks.html www.spbrunner.blogspot.com/ Q1 2023
Shaw Communications Inc TSX: SJR.B NYSE: SJR https://www.shaw.ca/ Fiscal Yr: Aug 31 11/30/22
Year 8/31/10 8/31/11 8/31/12 8/31/13 8/31/14 8/31/15 8/31/16 8/31/17 8/31/18 8/31/19 8/31/20 8/31/21 8/31/22 8/31/23 8/31/24 8/30/25 Value Description #Y Item
Accounting Rules C GAAP IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS
Split Date
Split $2,914 <-12 mths 0.00%
Expenses, Restructuring $2,690 $2,871 $2,922 $3,037 $2,488 $2,793 $2,939 $3,596 $3,195 $3,030 $3,023 $2,914 1.50% <-Total Growth 10 Cost of Sales
Increase 6.73% 1.78% 3.94% -18.08% 12.26% 5.23% 22.35% -11.15% -5.16% -0.23% -3.61% $0.01 <-Median-> 10 Increase
Expenses/Revenue Ratio 0.57 0.57 0.57 0.58 0.45 0.57 0.60 0.69 0.60 0.56 0.55 0.53 0.54 0.57 <-Median-> 10 Expenses/Revenue Ratio
$5,432 <-12 mths -0.29%
Revenue* $3,718 $4,741 $4,998 $5,142 $5,241 $5,488 $4,884 $4,882 $5,239 $5,340 $5,407 $5,509 $5,448 $5,444 $5,452 $5,538 9.00% <-Total Growth 10 Revenue
Increase 9.66% 27.53% 5.42% 2.88% 1.93% 4.71% -11.01% -0.04% 7.31% 1.93% 1.25% 1.89% -1.11% -0.07% 0.15% 1.58% 0.87% <-IRR #YR-> 10 Revenue 9.00%
5 year Running Average $3,089 $3,546 $3,990 $4,398 $4,768 $5,122 $5,151 $5,127 $5,147 $5,167 $5,150 $5,275 $5,389 $5,430 $5,452 $5,478 2.22% <-IRR #YR-> 5 Revenue 11.59%
Revenue per Share $8.58 $10.83 $11.26 $11.36 $11.34 $11.58 $10.04 $9.83 $10.34 $10.33 $10.54 $11.04 $10.91 $10.89 $10.91 $11.08 3.05% <-IRR #YR-> 10 5 yr Running Average 35.04%
Increase 8.92% 26.19% 4.00% 0.81% -0.10% 2.09% -13.27% -2.16% 5.23% -0.07% 2.00% 4.77% -1.23% -0.10% 0.15% 1.58% 1.00% <-IRR #YR-> 5 5 yr Running Average 5.09%
5 year Running Average $7.17 $8.19 $9.16 $9.98 $10.68 $11.27 $11.12 $10.83 $10.63 $10.43 $10.22 $10.42 $10.63 $10.74 $10.86 $10.97 -0.32% <-IRR #YR-> 10 Revenue per Share -3.18%
P/S (Price/Sales) Med 2.37 1.97 1.80 2.03 2.29 2.40 2.52 2.85 2.61 2.51 2.16 2.67 3.36 3.31 0.00 0.00 2.10% <-IRR #YR-> 5 Revenue per Share 10.97%
P/S (Price/Sales) Close 2.55 2.07 1.79 2.24 2.41 2.28 2.61 2.85 2.55 2.45 2.31 3.36 3.12 3.65 3.64 3.59 1.50% <-IRR #YR-> 10 5 yr Running Average 16.07%
*Revenue in M CDN $  P/S Med 20 yr  2.45 15 yr  2.51 10 yr  2.52 5 yr  2.61 44.94% Diff M/C -0.37% <-IRR #YR-> 5 5 yr Running Average -1.83%
-$4,998 $0 $0 $0 $0 $0 $0 $0 $0 $0 $5,448
-$4,882 $0 $0 $0 $0 $5,448
-$3,990 $0 $0 $0 $0 $0 $0 $0 $0 $0 $5,389
-$5,127 $0 $0 $0 $0 $5,389
-$11.26 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $10.91
-$9.83 $0.00 $0.00 $0.00 $0.00 $10.91
-$9.16 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $10.63
-$10.83 $0.00 $0.00 $0.00 $0.00 $10.63
$1.47 <-12 mths -3.29%
pre-split '07
EPS Basic $1.23 $1.03 $1.62 $1.64 $1.84 $1.80 $2.51 $1.72 $0.10 $1.41 $1.32 $1.94 $1.53 -5.56% <-Total Growth 10 EPS Basic
pre-split '94
pre-split '00
pre-split '07
EPS Diluted* $1.23 $1.03 $1.61 $1.63 $1.84 $1.79 $2.51 $1.71 $0.10 $1.41 $1.32 $1.94 $1.52 $1.56 $1.61 $1.73 -5.59% <-Total Growth 10 EPS Diluted
Increase -0.81% -16.26% 56.31% 1.24% 12.88% -2.72% 40.22% -31.87% -94.15% 1310.00% -6.38% 46.97% -21.65% 2.63% 3.21% 7.45% 10 0 10 Years of Data, EPS P or N 100.00%
Earnings Yield 5.6% 4.6% 8.0% 6.4% 6.7% 6.8% 9.6% 6.1% 0.4% 5.6% 5.4% 5.2% 4.5% 3.9% 4.0% 4.4% -0.57% <-IRR #YR-> 10 Earnings per Share -5.59%
5 year Running Average $1.19 $1.19 $1.33 $1.35 $1.47 $1.58 $1.88 $1.90 $1.59 $1.50 $1.41 $1.30 $1.26 $1.55 $1.59 $1.67 -2.33% <-IRR #YR-> 5 Earnings per Share -11.11%
10 year Running Average $0.51 $0.65 $0.89 $1.07 $1.24 $1.39 $1.53 $1.61 $1.47 $1.49 $1.50 $1.59 $1.58 $1.57 $1.55 $1.54 -0.57% <-IRR #YR-> 10 5 yr Running Average -5.56%
* Diluted ESP per share  E/P 10 Yrs 5.84% 5Yrs 5.22% -7.88% <-IRR #YR-> 5 5 yr Running Average -33.65%
-$1.61 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.52
-$1.71 $0.00 $0.00 $0.00 $0.00 $1.52
-$1.33 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.26
-$1.90 $0.00 $0.00 $0.00 $0.00 $1.26
Dividend Estimates  $1.19 $1.19 $1.19 Estimates Dividend Estimates 
Increase 0.42% 0.00% 0.00% Estimates Increase
Payout Ratio EPS 76.28% 73.91% 68.79% Estimates Payout Ratio EPS
Special Dividends $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 <-Median-> 10 Special Dividends
pre-split '94
pre-split '00
pre-split '07
Dividend* $0.86 $0.90 $0.95 $0.99 $1.06 $1.14 $1.185 $1.185 $1.185 $1.185 $1.185 $1.185 $1.185 $1.185 $1.185 $1.185 25.40% <-Total Growth 10 Dividends
Increase 4.88% 4.65% 5.00% 5.29% 6.53% 7.78% 3.72% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 17 0 32 Years of data, Count P, N 53.13%
Average Increases 5 Year Running 48.34% 35.34% 14.65% 7.23% 5.27% 5.85% 5.67% 4.67% 3.61% 2.30% 0.74% 0.00% 0.00% 0.00% 0.00% 0.00% 4.14% <-Median-> 10 Average Incr 5 Year Running
Dividends 5 Yr Running $0.62 $0.76 $0.85 $0.90 $0.95 $1.01 $1.07 $1.11 $1.15 $1.18 $1.19 $1.19 $1.19 $1.19 $1.19 $1.19 40.07% <-Total Growth 10 Dividends 5 Yr Running
Yield H/L Price 4.23% 4.22% 4.65% 4.32% 4.09% 4.11% 4.68% 4.23% 4.39% 4.56% 5.21% 4.02% 3.23% 3.28% 4.27% <-Median-> 10 Dividends
Yield on High  Price 3.91% 3.84% 4.38% 3.82% 3.79% 3.61% 4.21% 3.92% 3.96% 4.23% 4.29% 3.19% 3.00% 3.04% 3.87% <-Median-> 10 Dividends
Yield on Low Price 4.62% 4.70% 4.96% 4.96% 4.43% 4.78% 5.25% 4.59% 4.93% 4.96% 6.64% 5.43% 3.50% 3.57% 4.94% <-Median-> 10 Dividends
Yield on Close Price 3.93% 4.02% 4.69% 3.92% 3.87% 4.32% 4.52% 4.23% 4.50% 4.68% 4.86% 3.19% 3.48% 2.98% 2.98% 2.98% 4.28% <-Median-> 10 Dividends
Payout Ratio EPS 69.92% 87.38% 58.70% 61.04% 57.61% 63.83% 47.21% 69.30% 1185.00% 84.04% 89.77% 61.08% 77.96% 75.96% 73.60% 68.50% 66.56% <-Median-> 10 DPR EPS
DPR EPS 5 Yr Running 52.35% 63.64% 63.51% 67.06% 64.85% 63.83% 56.80% 58.73% 72.42% 78.22% 84.04% 91.44% 94.20% 76.45% 74.53% 70.87% 69.74% <-Median-> 10 DPR EPS 5 Yr Running
Payout Ratio CFPS 25.56% 31.73% 31.84% 32.91% 28.15% 35.16% 34.65% 39.19% 44.44% 39.05% 31.66% 30.74% 32.33% 28.49% 28.55% 27.24% 33.78% <-Median-> 10 DPR CF
DPR CF 5 Yr Running 18.53% 26.65% 28.50% 29.90% 25.28% 31.03% 31.15% 36.83% 43.18% 38.77% 31.66% 30.74% 32.33% 28.49% 28.55% 27.24% 31.41% <-Median-> 10 DPR CF 5 Yr Running
Payout Ratio CFPS WC 27.08% 27.30% 32.28% 32.65% 32.14% 33.07% 36.22% 36.52% 47.76% 34.46% 30.56% 26.29% 29.72% 28.49% 28.55% 27.24% 32.86% <-Median-> 10 DPR CF WC
DPR CF WC 5 Yr Running 23.16% 25.56% 27.59% 29.12% 30.23% 31.47% 33.30% 34.12% 36.55% 37.02% 36.32% 33.76% 32.39% 29.67% 28.65% 28.01% 33.53% <-Median-> 10 DPR CF WC 5 Yr Running
Median Values 10 Yr Med 10 Yr Cl 4.27% 4.28% 5 Yr Med 5 Yr Cl 4.39% 4.50% 5 Yr Med Payout 84.04% 32.33% 30.56% 0.00% <-IRR #YR-> 5 Dividends 0.00%
* Dividends per share  10 Yr Med and Cur. -30.26% -30.32% 5 Yr Med and Cur. -32.09% -33.80% Last Div Inc ---> $0.0917 $0.0988 7.7% 2.29% <-IRR #YR-> 10 Dividends 25.40%
Dividends Growth 15 5.99% <-IRR #YR-> 15 Dividends 139.40%
Dividends Growth 20 21.28% <-IRR #YR-> 20 Dividends 4640.00%
Dividends Growth 25 18.37% <-IRR #YR-> 25 Dividends 6671.43%
Dividends Growth 30 15.68% <-IRR #YR-> 30 Dividends
Dividends Growth 35 15.29% <-IRR #YR-> 32 Dividends
Dividends Growth 5 -$1.19 $0.00 $0.00 $0.00 $0.00 $1.19 Dividends Growth 5
Dividends Growth 10 -$0.95 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.19 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 $1.19 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 $1.19 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 $1.19 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 $1.19 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 $1.19
Historical Dividends Historical High Div 5.14% Low Div 0.14% 10 Yr High 6.52% 10 Yr Low 3.06% Med Div 1.66% Close Div 1.42% Historical Dividends
High/Ave/Median Values Curr diff Exp. -42.02%     2029% Exp. -54.29% -2.60% Cheap 79.54% Cheap 109.81% High/Ave/Median Values
Future Dividend Yield Div Yd 2.98% earning in 5 Years at IRR of 0.00% Div Inc. 0.00% Future Dividend Yield
Future Dividend Yield Div Yd 2.98% earning in 10 Years at IRR of 0.00% Div Inc. 0.00% Future Dividend Yield
Future Dividend Yield Div Yd 2.98% earning in 15 Years at IRR of 0.00% Div Inc. 0.00% Future Dividend Yield
Future Dividend Paid Div Paid $1.19 earning in 5 Years at IRR of 0.00% Div Inc. 0.00% Future Dividend Paid
Future Dividend Paid Div Paid $1.19 earning in 10 Years at IRR of 0.00% Div Inc. 0.00% Future Dividend Paid
Future Dividend Paid Div Paid $1.19 earning in 15 Years at IRR of 0.00% Div Inc. 0.00% Future Dividend Paid
Dividend Covering Cost Total Div $5.93 over 5 Years at IRR of 0.00% Div Cov. 14.90% Dividend Covering Cost
Dividend Covering Cost Total Div $10.67 over 10 Years at IRR of 0.00% Div Cov. 26.82% Dividend Covering Cost
Dividend Covering Cost Total Div $15.41 over 15 Years at IRR of 0.00% Div Cov. 38.74% Dividend Covering Cost
Yield if held 5 years 7.36% 6.29% 4.44% 4.54% 5.17% 5.62% 5.56% 5.83% 5.14% 4.57% 4.26% 4.68% 4.23% 4.39% 4.56% 5.21% 4.91% <-Median-> 10 Paid Median Price
Yield if held 10 years 5.57% 5.59% 8.00% 13.10% 10.51% 9.78% 8.28% 5.56% 5.41% 5.78% 5.83% 5.56% 5.83% 5.14% 4.57% 4.26% 5.83% <-Median-> 10 Paid Median Price
Yield if held 15 years 38.48% 42.65% 37.99% 16.85% 10.92% 7.40% 7.36% 10.03% 15.60% 11.75% 10.14% 8.28% 5.56% 5.41% 5.78% 5.83% 10.09% <-Median-> 10 Paid Median Price
Yield if held 20 years 34.26% 51.12% 56.16% 47.64% 20.06% 12.21% 7.68% 7.36% 10.03% 15.60% 11.75% 10.14% 20.06% <-Median-> 9 Paid Median Price
Yield if held 25 years 38.30% 53.02% 56.16% 47.64% 20.06% 12.21% 7.68% 50.33% <-Median-> 4 Paid Median Price
Cost covered if held 5 years 26.68% 26.41% 19.85% 20.64% 23.20% 24.82% 25.01% 27.39% 24.98% 22.68% 21.32% 23.38% 21.15% 21.94% 22.81% 26.06% 23.29% <-Median-> 10 Paid Median Price
Cost covered if held 10 years 22.11% 26.65% 44.08% 81.31% 70.95% 69.83% 63.63% 45.99% 46.93% 51.88% 53.99% 52.82% 56.53% 50.68% 45.53% 42.63% 55.26% <-Median-> 10 Paid Median Price
Cost covered if held 15 years 157.05% 208.17% 213.87% 106.62% 75.61% 54.77% 59.76% 91.22% 157.09% 129.27% 120.54% 105.03% 73.80% 73.98% 80.76% 83.15% 98.12% <-Median-> 10 Paid Median Price
Cost covered if held 20 years 240.08% 382.66% 460.66% 437.69% 204.11% 136.22% 93.15% 96.58% 141.38% 235.08% 188.00% 171.25% 204.11% <-Median-> 9 Paid Median Price
Cost covered if held 25 years 430.22% 647.76% 741.47% 675.88% 304.42% 197.27% 131.53% 661.82% <-Median-> 4 Paid Median Price
Yr  Item Tot. Growth
Revenue Growth  $4,882.0 $5,239.0 $5,340.0 $5,407.0 $5,509.0 $5,448.0 $31,825.0 11.59% <-Total Growth 5 Revenue Growth  11.59%
EPS Growth $1.71 $0.10 $1.41 $1.32 $1.94 $1.52 $8.00 -12.50% <-Total Growth 5 AEPS Growth -12.50%
Net Income Growth $838.0 $47.0 $731.0 $688.0 $986.0 $764.0 $4,054.0 -9.69% <-Total Growth 5 Net Income Growth -9.69%
Cash Flow Growth $1,502.0 $1,351.0 $1,568.0 $1,920.0 $1,923.0 $1,831.0 $10,095.0 21.90% <-Total Growth 5 Cash Flow Growth 21.90%
Dividend Growth $1.19 $1.19 $1.19 $1.19 $1.19 $1.19 $7.11 0.00% <-Total Growth 5 Dividend Growth 0.00%
Stock Price Growth $28.00 $26.32 $25.30 $24.39 $37.13 $34.02 21.50% <-Total Growth 5 Stock Price Growth 21.50%
Revenue Growth  $4,998.0 $5,142.0 $5,241.0 $5,488.0 $4,884.0 $4,882.0 $5,239.0 $5,340.0 $5,407.0 $5,509.0 $5,448.0 $57,578.0 9.00% <-Total Growth 10 Revenue Growth  9.00%
EPS Growth $1.61 $1.63 $1.84 $1.79 $2.51 $1.71 $0.10 $1.41 $1.32 $1.94 $1.52 $17.38 -5.92% <-Total Growth 10 AEPS Growth -5.92%
Net Income Growth $715.0 $733.0 $844.0 $843.0 $1,207.0 $838.0 $47.0 $731.0 $688.0 $986.0 $764.0 $8,396.0 6.85% <-Total Growth 10 Net Income Growth 6.85%
Cash Flow Growth $1,317.0 $1,369.0 $1,740.0 $1,540.0 $1,663.0 $1,502.0 $1,351.0 $1,568.0 $1,920.0 $1,923.0 $1,831.0 $17,724.0 39.03% <-Total Growth 10 Cash Flow Growth 39.03%
Dividend Growth $0.95 $0.99 $1.06 $1.14 $1.19 $1.19 $1.19 $1.19 $1.19 $1.19 $1.19 25.40% <-Total Growth 10 Dividend Growth 25.40%
Stock Price Growth $20.16 $25.38 $27.39 $26.43 $26.23 $28.00 $26.32 $25.30 $24.39 $37.13 $34.02 68.75% <-Total Growth 10 Stock Price Growth 68.75%
Dividends on Shares $106.64 $111.60 $117.18 $123.38 $131.44 $141.67 $146.94 $146.94 $146.94 $146.94 $146.94 $146.94 $146.94 $146.94 $146.94 $146.94 $2,070.80 No of Years 20 Total Dividends 12/31/02
Paid  $2,647.40 $2,511.00 $2,832.16 $3,205.40 $3,887.40 $2,951.20 $3,340.56 $3,557.56 $3,064.04 $3,267.40 $2,770.16 $4,760.36 $4,837.24 $4,930.24 $4,930.24 $4,930.24 $4,837.24 No of Years 20 Worth $8.12
Total $6,908.04 Total  
Dividends on Shares $43.78 $46.64 $50.27 $52.14 $52.14 $52.14 $52.14 $52.14 $52.14 $52.14 $52.14 $52.14 $52.14 $505.67 No of Years 10 Total Dividends 12/31/12
Paid  $1,004.96 $1,137.40 $1,379.40 $1,047.20 $1,185.36 $1,262.36 $1,087.24 $1,159.40 $982.96 $1,689.16 $1,716.44 $1,749.44 $1,749.44 $1,749.44 $1,716.44 No of Years 10 Worth $22.84
Total $2,222.11 Total
Graham Price $13.30 $12.44 $16.81 $17.75 $19.88 $20.85 $26.40 $21.30 $5.02 $19.17 $18.54 $22.99 $20.66 $21.22 $21.56 $22.35 22.93% <-Total Growth 10 Graham Price
Price/GP Ratio Med 1.53 1.71 1.21 1.30 1.30 1.33 0.96 1.32 5.38 1.35 1.23 1.28 1.77 1.70 1.31 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 1.66 1.88 1.28 1.47 1.41 1.52 1.07 1.42 5.97 1.46 1.49 1.61 1.91 1.84 1.48 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 1.40 1.54 1.13 1.13 1.20 1.15 0.85 1.21 4.80 1.25 0.96 0.95 1.64 1.56 1.18 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 1.64 1.80 1.20 1.43 1.38 1.27 0.99 1.31 5.25 1.32 1.32 1.61 1.65 1.87 1.84 1.78 1.35 <-Median-> 10 Price/GP Ratio
Prem/Disc Close 64.38% 80.04% 19.93% 43.01% 37.80% 26.75% -0.65% 31.43% 424.82% 31.94% 31.52% 61.48% 64.63% 87.36% 84.43% 77.92% 34.87% <-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 27.00 <Count Years> Month, Year
Price Close $21.35 $20.25 $22.84 $25.85 $31.35 $23.80 $26.94 $28.69 $24.71 $26.35 $22.34 $38.39 $39.01 $39.76 $39.76 $39.76 70.80% <-Total Growth 10 Stock Price
Increase -1.48% -5.15% 12.79% 13.18% 21.28% -24.08% 13.19% 6.50% -13.87% 6.64% -15.22% 71.84% 1.62% 1.92% 0.00% 0.00% 16.95 <-Median-> 10 CAPE (10 Yr P/E)
P/E 17.36 19.66 14.19 15.86 17.04 13.30 10.73 16.78 247.10 18.69 16.92 19.79 25.66 25.49 24.70 22.98 6.34% <-IRR #YR-> 5 Stock Price 35.97%
Trailing P/E 17.22 16.46 22.17 16.06 19.23 12.93 15.05 11.43 14.45 263.50 15.84 29.08 20.11 26.16 25.49 24.70 5.50% <-IRR #YR-> 10 Stock Price 70.80%
CAPE (10 Yr P/E) 32.60 25.85 20.73 18.67 17.71 16.66 15.62 15.14 16.84 16.97 16.93 17.10 18.23 19.19 20.02 21.14 10.02% <-IRR #YR-> 5 Price & Dividend 60.75%
Median 10, 5 Yrs D.  per yr 4.02% 3.68% % Tot Ret 42.23% 36.74% T P/E 15.95 20.11 P/E:  16.98 19.79 9.52% <-IRR #YR-> 10 Price & Dividend 125.25%
Price 15 D.  per yr 3.47% % Tot Ret 50.53% CAPE Diff 50.38% 3.40% <-IRR #YR-> 15 Stock Price 65.02%
Price  20 D.  per yr 4.11% % Tot Ret 33.49% 8.16% <-IRR #YR-> 20 Stock Price 380.42%
Price  25 D.  per yr 3.88% % Tot Ret 27.15% 10.41% <-IRR #YR-> 25 Stock Price 10.893293
Price  30 D.  per yr 3.07% % Tot Ret 23.59% 9.93% <-IRR #YR-> 30 Stock Price
Price  35 D.  per yr 3.34% % Tot Ret 22.62% 11.44% <-IRR #YR-> 32 Stock Price
Price & Dividend 15 6.86% <-IRR #YR-> 15 Price & Dividend 133.62%
Price & Dividend 20 12.27% <-IRR #YR-> 20 Price & Dividend 586.39%
Price & Dividend 25 14.29% <-IRR #YR-> 25 Price & Dividend 1602.44%
Price & Dividend 30 12.99% <-IRR #YR-> 30 Price & Dividend 2352.85%
Price & Dividend 35 14.78% <-IRR #YR-> 32 Price & Dividend
Price  5 -$28.69 $0.00 $0.00 $0.00 $0.00 $39.01 Price  5
Price 10 -$22.84 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $39.01 Price 10
Price & Dividend 5 -$28.69 $1.19 $1.19 $1.19 $1.19 $40.20 Price & Dividend 5
Price & Dividend 10 -$22.84 $0.99 $1.06 $1.14 $1.19 $1.19 $1.19 $1.19 $1.19 $1.19 $40.20 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 $39.01 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 $39.01 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 $39.01 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 $39.01 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 $39.01 Price  35
Price & Dividend 15 $0.86 $0.90 $0.95 $0.99 $1.06 $1.14 $1.19 $1.19 $1.19 $1.19 $1.19 $1.19 $40.20 Price & Dividend 15
Price & Dividend 20 $0.86 $0.90 $0.95 $0.99 $1.06 $1.14 $1.19 $1.19 $1.19 $1.19 $1.19 $1.19 $40.20 Price & Dividend 20
Price & Dividend 25 $0.86 $0.90 $0.95 $0.99 $1.06 $1.14 $1.19 $1.19 $1.19 $1.19 $1.19 $1.19 $40.20 Price & Dividend 25
Price & Dividend 30 $0.86 $0.90 $0.95 $0.99 $1.06 $1.14 $1.19 $1.19 $1.19 $1.19 $1.19 $1.19 $40.20 Price & Dividend 30
Price & Dividend 35 $0.86 $0.90 $0.95 $0.99 $1.06 $1.14 $1.19 $1.19 $1.19 $1.19 $1.19 $1.19 $40.20 Price & Dividend 35
Month, Year Aug-10 Aug-11 Aug-12 Aug-13 Aug-14 Aug-15 Aug-16 Aug-17 Aug-18 Aug-19 Aug-20 Aug-21 Aug-22 Aug-23 Aug-24 Aug-25 32.00 <Count Years> Month, Year
pre-split '07
Price Close $21.87 $22.40 $20.16 $25.38 $27.39 $26.43 $26.23 $28.00 $26.32 $25.30 $24.39 $37.13 $34.02 $39.76 $39.76 $39.76 68.75% <-Total Growth 10 Stock Price
Increase 16.39% 2.42% -10.00% 25.89% 7.92% -3.50% -0.76% 6.75% -6.00% -3.88% -3.60% 52.23% -8.38% 16.87% 0.00% 0.00% 5.37% <-IRR #YR-> 10 Stock Price 68.75%
P/E 17.78 21.75 12.52 15.57 14.89 14.77 10.45 16.37 263.20 17.94 18.48 19.14 22.38 25.49 24.70 22.98 3.97% <-IRR #YR-> 5 Stock Price 21.50%
Trailing P/E 17.64 18.21 19.57 15.76 16.80 14.36 14.65 11.16 15.39 253.00 17.30 28.13 17.54 26.16 25.49 24.70 9.95% <-IRR #YR-> 10 Price & Dividend 130.44%
Median 10, 5 Yrs D.  per yr 4.58% 3.93% % Tot Ret 46.03% 50% T P/E 16.28 17.54 P/E:  17.16 19.14 7.90% <-IRR #YR-> 5 Price & Dividend 46.89%
-$20.16 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $34.02
-$28.00 $0.00 $0.00 $0.00 $0.00 $34.02
-$20.16 $0.99 $1.06 $1.14 $1.19 $1.19 $1.19 $1.19 $1.19 $1.19 $35.21
-$28.00 $1.19 $1.19 $1.19 $1.19 $35.21
Price H/L Median $20.32 $21.31 $20.33 $23.05 $25.94 $27.80 $25.34 $28.02 $27.00 $25.97 $22.74 $29.48 $36.65 $36.09 80.25% <-Total Growth 10 Stock Price
Increase -0.97% 4.87% -4.58% 13.38% 12.52% 7.17% -8.83% 10.56% -3.62% -3.81% -12.46% 29.65% 24.33% -1.51% 6.07% <-IRR #YR-> 10 Stock Price 80.25%
P/E 16.52 20.68 12.63 14.14 14.10 15.53 10.10 16.38 270.00 18.42 17.22 15.19 24.11 23.13 5.52% <-IRR #YR-> 5 Stock Price 30.80%
Trailing P/E 16.38 17.32 19.74 14.32 15.91 15.11 14.16 11.16 15.79 259.70 16.12 22.33 18.89 23.74 10.50% <-IRR #YR-> 10 Price & Dividend 141.43%
P/E on Running 5 yr Aveage 17.06 17.93 15.26 17.10 17.67 17.59 13.51 14.78 16.98 17.27 16.12 22.74 29.13 23.28 9.34% <-IRR #YR-> 5 Price & Dividend 56.18%
P/E on Running 10 yr Aveage 40.03 32.63 22.97 21.60 20.92 20.06 16.54 17.36 18.38 17.48 15.21 18.58 23.24 22.99 16.53 P/E Ratio Historical Median
Median 10, 5 Yrs D.  per yr 4.43% 3.82% % Tot Ret 42.18% 40.94% T P/E 15.85 18.89 P/E:  15.96 18.42 Count 33 Years of data
-$20.33 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $36.65
-$28.02 $0.00 $0.00 $0.00 $0.00 $36.65
-$20.33 $0.99 $1.06 $1.14 $1.19 $1.19 $1.19 $1.19 $1.19 $1.19 $37.83
-$28.02 $1.19 $1.19 $1.19 $1.19 $37.83
High Months Dec 09 Oct 10 Sep 11 Jul 13 Jul 14 Jan 15 Dec 15 Jun 17 Dec 17 Apr 19 Nov 19 Aug 21 Apr 22 Dec 22
pre-split '00
pre-split '07
Price High $22.02 $23.45 $21.59 $26.04 $27.95 $31.67 $28.12 $30.23 $29.95 $28.03 $27.63 $37.13 $39.44 $39.01 82.68% <-Total Growth 10 Stock Price
Increase -6.66% 6.49% -7.93% 20.61% 7.33% 13.31% -11.21% 7.50% -0.93% -6.41% -1.43% 34.38% 6.22% -1.09% 6.21% <-IRR #YR-> 10 Stock Price 82.68%
P/E 17.90 22.77 13.41 15.98 15.19 17.69 11.20 17.68 299.50 19.88 20.93 19.14 25.95 25.01 5.46% <-IRR #YR-> 5 Stock Price 30.47%
Trailing P/E 17.76 19.07 20.96 16.17 17.15 17.21 15.71 12.04 17.51 280.30 19.60 28.13 20.33 25.66 19.08 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 17.36 20.33 P/E:  18.42 20.93 37.84 P/E Ratio Historical High
-$23.45 -$21.59 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $39.44
-$30.23 $0.00 $0.00 $0.00 $0.00 $39.44
Low Months May 10 Apr 11 May 12 Sep 12 Sep 13 Sep 13 Feb 16 Nov 16 Mar 18 Nov 18 Mar 20 Nov 20 Jul 22 Oct 22
pre-split '00
pre-split '07
Price Low $18.61 $19.16 $19.07 $20.06 $23.92 $23.92 $22.56 $25.80 $24.05 $23.91 $17.84 $21.82 $33.85 $33.17 77.50% <-Total Growth 10 Stock Price
Increase 6.71% 2.96% -0.47% 5.19% 19.24% 0.00% -5.69% 14.36% -6.78% -0.58% -25.39% 22.31% 55.13% -2.01% 5.91% <-IRR #YR-> 10 Stock Price 77.50%
P/E 15.13 18.60 11.84 12.31 13.00 13.36 8.99 15.09 240.50 16.96 13.52 11.25 22.27 21.26 5.58% <-IRR #YR-> 5 Stock Price 31.20%
Trailing P/E 15.01 15.58 18.51 12.46 14.67 13.00 12.60 10.28 14.06 239.10 12.65 16.53 17.45 21.82 14.58 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 13.53 16.53 P/E:  13.44 16.96 9.44 P/E Ratio Historical Low
-$19.07 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $33.85
-$25.80 $0.00 $0.00 $0.00 $0.00 $33.85
Percentage of Class B 99.71% 99.72% 99.74% 99.75% 99.76% 99.78% 99.79% 99.79% 99.79% 99.79% 99.79% 99.79% 99.79% 1.00 <-Median-> 10 Percentage of Class B
Dividend* Class A Special Dividend $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 Dividend* Class A Special Dividend
Dividend* Class A  $0.857 $0.898 $0.943 $0.992 $1.058 $1.140 $1.183 $1.183 $1.183 $1.183 $1.183 $1.183 $1.183 0.00% <-Total Growth 5 Dividend* Class A 
Check on Div amt. $1.183 $1.183 $1.183 $1.183 $1.183 $1.183 25.46% <-Total Growth 10 Check on Div amt.
Percentage of Class B 105.21% 99.64% 119.05% 96.65% 109.09% 123.16% 116.28% 105.36% 107.33% 99.80% 106.19% 102.75% 100.59% 96.15% 96.15% 96.15% 105.77% <-Median-> 10 Percentage of Class B
Month, Year Class A Aug-10 Aug-11 Aug-12 Aug-13 Aug-14 Aug-15 Aug-16 Aug-17 Aug-18 Aug-19 Aug-20 Aug-21 Aug-22 Aug-23 Aug-24 Sep-25 21.00 <Count Years> Month, Year
Price Close $23.01 $22.32 $24.00 $24.53 $29.88 $32.55 $30.50 $29.50 $28.25 $25.25 $25.90 $38.15 $34.22 $38.23 $38.23 $38.23 42.58% <-Total Growth 10 Stock Price
Increase 19.53% -3.00% 7.53% 2.21% 21.81% 8.94% -6.30% -3.28% -4.24% -10.62% 2.57% 47.30% -10.30% 11.72% 0.00% 0.00% 3.61% <-IRR #YR-> 10 Stock Price 42.58%
P/E 18.71 21.67 14.91 15.05 16.24 18.18 12.15 17.25 282.50 17.91 19.62 19.66 22.51 24.51 23.75 22.10 3.01% <-IRR #YR-> 5 Stock Price 16.00%
Trailing P/E 18.56 18.15 23.30 15.24 18.33 17.69 17.04 11.75 16.52 252.50 18.37 28.90 17.64 25.15 24.51 23.75 7.71% <-IRR #YR-> 10 Price & Dividend 160.64%
Median 10, 5 Yrs D.  per yr 4.10% 3.79% % Tot Ret 53.17% 56% T P/E 17.66 18.37 P/E:  18.05 19.66 6.80% <-IRR #YR-> 5 Price & Dividend 84.90%
-$24.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $34.22
-$29.50 $0.00 $0.00 $0.00 $0.00 $34.22
-$24.00 $0.99 $1.06 $1.14 $1.18 $1.18 $1.18 $1.18 $1.18 $1.18 $35.40
-$29.50 $1.18 $1.18 $1.18 $1.18 $35.40
$662 <-12 mths -9.93%
Free Cash Flow MS $340 $344 $366 $624 $471 $609 -$111 $52 $270 $769 $905 $735 $780 $892 $1,060 113.66% <-Total Growth 10 Free Cash Flow MS
Change 1.18% 6.40% 70.49% -24.52% 29.30% -118.23% 146.85% 419.23% 184.81% 17.69% -18.78% 6.12% 14.36% 18.83% #NUM! <-IRR #YR-> 5 Free Cash Flow MS MK Scr
FCF/CF from Op Ratio 0.27 0.26 0.27 0.36 0.31 0.37 -0.07 0.04 0.17 0.40 0.47 0.40 0.38 0.43 0.49 7.89% <-IRR #YR-> 10 Free Cash Flow MS None agree
Dividends paid $372 $352 $318 $319 $339 $369 $380 $385 $384 $389 $573 $597 $597 $592 $592 $592 87.74% <-Total Growth 10 Dividends paid
Percentage paid 103.53% 92.44% 87.16% 54.33% 78.34% 62.40% -346.85% 738.46% 144.07% 74.51% 65.97% 81.22% 75.91% 66.38% 55.86% $0.76 <-Median-> 10 Percentage paid
5 Year Coverage 79.11% 71.46% 91.48% 112.89% 147.71% 132.85% 123.50% 93.01% 79.45% 72.32% 67.94% 5 Year Coverage
Dividend Coverage Ratio 0.97 1.08 1.15 1.84 1.28 1.60 -0.29 0.14 0.69 1.34 1.52 1.23 1.32 1.51 1.79 1.25 <-Median-> 10 Dividend Coverage Ratio
5 Year of Coverage 1.26 1.40 1.09 0.89 0.68 0.75 0.81 1.08 1.26 1.38 1.47 5 Year of Coverage
$111 $0 $0 $0 $0 $735
-$344 $0 $0 $0 $0 $0 $0 $0 $0 $0 $735
$677 <-12 mths -17.34%
Free Cash Flow SJR $515 $617 $482 $604 $698 $653 $482 $438 $411 $538 $747 $973 $819 $780 $892 $1,060 69.92% <-Total Growth 10 Free Cash Flow Mk Scr
Change 1.78% 19.81% -21.88% 25.31% 15.56% -6.45% -26.19% -9.13% -6.16% 30.90% 38.85% 30.25% -15.83% -4.76% 14.36% 18.83% 13.33% <-IRR #YR-> 5 Free Cash Flow MS agrees with
FCF/CF from Op Ratio 0.35 0.50 0.37 0.44 0.40 0.42 0.29 0.29 0.30 0.34 0.39 0.51 0.45 0.38 0.43 0.49 5.44% <-IRR #YR-> 10 Free Cash Flow MS SJR
Dividends paid $372 $352 $318 $319 $339 $369 $380 $385 $384 $389 $573 $597 $597 $592 $592 $592 87.74% <-Total Growth 10 Dividends paid
Percentage paid 72.25% 57.05% 65.98% 52.81% 48.57% 56.51% 78.84% 87.90% 93.43% 72.30% 76.71% 61.36% 72.89% 75.91% 66.38% 55.86% $0.73 <-Median-> 10 Percentage paid
5 Year Coverage 65.93% 62.88% 58.30% 55.57% 59.10% 62.33% 69.24% 75.61% 80.70% 74.93% 72.82% 71.25% 70.08% 65.66% 5 Year Coverage
Dividend Coverage Ratio 1.38 1.75 1.52 1.89 2.06 1.77 1.27 1.14 1.07 1.38 1.30 1.63 1.37 1.32 1.51 1.79 1.38 <-Median-> 10 Dividend Coverage Ratio
5 Year of Coverage 1.52 1.59 1.72 1.80 1.69 1.60 1.44 1.32 1.24 1.33 1.37 1.40 1.43 1.52 5 Year of Coverage
0.22
-$438 $0 $0 $0 $0 $819
-$482 $0 $0 $0 $0 $0 $0 $0 $0 $0 $819
$811 <-12 mths -9.18%
Free Cash Flow WSJ $546 $717 $430 $183 $417 $919 $1,044 $893 $780 $892 $1,060 63.55% <-Total Growth 7 Free Cash Flow MW
Change 31.32% -40.03% -57.44% 127.87% 120.38% 13.60% -14.46% -12.65% 14.36% 18.83% 15.74% <-IRR #YR-> 5 Free Cash Flow WSJ WSJ
FCF/CF from Op Ratio 0.35 0.43 0.29 0.14 0.27 0.48 0.54 0.49 0.38 0.43 0.49 7.28% <-IRR #YR-> 7 Free Cash Flow WSJ
Dividends paid $369 $380 $385 $384 $389 $573 $597 $597 $592 $592 $592 61.79% <-Total Growth 7 Dividends paid
Percentage paid 67.58% 53.00% 89.53% 209.84% 93.29% 62.35% 57.18% 66.85% 75.91% 66.38% 55.86% $0.67 <-Median-> 8 Percentage paid
5 Year Coverage 83.17% 79.18% 77.78% 73.50% 67.80% 65.18% 63.62% 5 Year Coverage
Dividend Coverage Ratio 1.48 1.89 1.12 0.48 1.07 1.60 1.75 1.50 1.32 1.51 1.79 1.49 <-Median-> 8 Dividend Coverage Ratio
5 Year of Coverage 1.20 1.26 1.29 1.36 1.47 1.53 1.57 5 Year of Coverage
-$430 $0 $0 $0 $0 $893
-$546 $0 $0 $0 $0 $0 $0 $893
Market Cap in $M $9,498 $9,803 $9,032 $11,474 $12,711 $12,662 $12,850 $13,943 $13,377 $13,073 $12,546 $18,547 $16,999 $19,833 $19,833 $19,833 88.22% <-Total Growth 10 Market Cap 88.22%
Difference Between Cl A and Cl B -$1.14 $0.08 -$3.84 $0.85 -$2.49 -$6.12 -$4.27 -$1.50 -$1.93 $0.05 -$1.51 -$1.02 -$0.20 $1.53 $1.53 $1.53 Class B - Class A.
Diluted # of Shares in Million 433.88 435.95 442 450 459 471 481 492 503 511 515 505 501 501 13.35% <-Total Growth 10 Diluted
Change 0.72% 0.48% 1.39% 1.81% 2.00% 2.61% 2.12% 2.29% 2.24% 1.59% 0.78% -1.94% -0.79% 0.00% 1.90% <-Median-> 10 Change
Difference Diluted/Basic -0.3% -0.2% -0.2% -0.4% -0.4% -0.6% -0.2% -0.2% -0.2% 0.0% 0.0% -0.2% -0.4% -0.4% -0.21% <-Median-> 10 Difference Diluted/Basic
pre-split '07
Average # of Sh in M 432.68 434.88 441 448 457 468 480 491 502 511 515 504 499 499 13.15% <-Total Growth 10 Average
Change 0.82% 0.51% 1.41% 1.59% 2.01% 2.41% 2.56% 2.29% 2.24% 1.79% 0.78% -2.14% -0.99% 0.00% 1.90% <-Median-> 10 Change
Difference Basic/Outstanding 0.1% 0.7% 0.6% 1.1% 1.1% 1.3% 1.3% 1.2% 0.9% 1.1% -0.4% -1.0% 0.1% 0.1% 1.09% <-Median-> 10 Difference Basic/Outstanding
$1,809 <-12 mths -1.20%
Purchase
pre-split '00
pre-split '07
Class A & B
pre-split '00
pre-split '07
Class A 22.52 22.52 22.52 22.52 22.42 22.42 22.42 22.42 22.42 22.37 22.37 22.37 22.37 22.37 22.37 22.37 -0.66% <-Total Growth 10 Class A Share
pre-split '00 #DIV/0! <-Total Growth -1 pre-split '00
pre-split '07 #DIV/0! <-Total Growth -1 pre-split '07
Class B 410.62 415.22 421.19 430.31 439.61 451.47 463.83 474.35 484.19 494.39 490.63 476.54 477.18 477.32 477.32 477.32 13.29% <-Total Growth 10 Class B Capital
# of Share in Millions 433.14 437.74 443.71 452.83 462.03 473.89 486.25 496.77 506.61 516.76 513.00 498.91 499.55 499.69 499.69 499.69 1.19% <-IRR #YR-> 10 Shares 12.58%
Change 0.68% 1.06% 1.36% 2.05% 2.03% 2.57% 2.61% 2.16% 1.98% 2.00% -0.73% -2.75% 0.13% 0.03% 0.00% 0.00% 0.11% <-IRR #YR-> 5 Shares 0.56%
CF fr Op $Millon $1,457.2 $1,241.7 $1,317 $1,369 $1,740 $1,540 $1,663 $1,502 $1,351 $1,568 $1,920 $1,923 $1,831 $2,079 $2,074 $2,174 39.03% <-Total Growth 10 Cash Flow
Increase 5.37% -14.79% 6.07% 3.95% 27.10% -11.49% 7.99% -9.68% -10.05% 16.06% 22.45% 0.16% -4.78% 13.53% -0.24% 4.82% S0, DRIP Buy Backs S. Issues
5 year Running Average $1,186 $1,265 $1,328 $1,354 $1,425 $1,442 $1,526 $1,563 $1,559 $1,525 $1,601 $1,653 $1,719 $1,864 $1,965 $2,016 29.39% <-Total Growth 10 CF 5 Yr Running
CFPS $3.36 $2.84 $2.97 $3.02 $3.77 $3.25 $3.42 $3.02 $2.67 $3.03 $3.74 $3.85 $3.67 $4.16 $4.15 $4.35 23.49% <-Total Growth 10 Cash Flow per Share
Increase 4.66% -15.68% 4.64% 1.86% 24.57% -13.71% 5.24% -11.59% -11.80% 13.78% 23.35% 2.99% -4.91% 13.50% -0.24% 4.82% 3.35% <-IRR #YR-> 10 Cash Flow 39.03%
5 year Running Average $2.75 $2.93 $3.06 $3.08 $3.19 $3.17 $3.29 $3.30 $3.23 $3.08 $3.18 $3.26 $3.39 $3.69 $3.91 $4.04 4.04% <-IRR #YR-> 5 Cash Flow 21.90%
P/CF on Med Price 6.04 7.51 6.85 7.62 6.89 8.55 7.41 9.27 10.12 8.56 6.07 7.65 10.00 8.68 0.00 0.00 2.13% <-IRR #YR-> 10 Cash Flow per Share 23.49%
P/CF on Closing Price 6.50 7.90 6.79 8.39 7.27 8.13 7.67 9.26 9.87 8.34 6.52 9.63 9.28 9.56 9.58 9.14 3.92% <-IRR #YR-> 5 Cash Flow per Share 21.23%
17.99% Diff M/C 1.05% <-IRR #YR-> 10 CFPS 5 yr Running 11.00%
$1,694 <-12 mths 952.17%
Excl.Working Capital CF -$81.8 $201.5 -$18.0 $11.0 -$216.0 $97.0 -$72.0 $110.0 -$94.0 $209.0 $69.0 $326.0 $161.0 $0.0 $0.0 $0.0 0.58% <-IRR #YR-> 5 CFPS 5 yr Running 2.92%
CF fr Op $M WC $1,375 $1,443 $1,299 $1,380 $1,524 $1,637 $1,591 $1,612 $1,257 $1,777 $1,989 $2,249 $1,992 $2,079 $2,074 $2,174 53.35% <-Total Growth 10 Cash Flow less WC
Increase 3.89% 4.93% -9.99% 6.24% 10.43% 7.41% -2.81% 1.32% -22.02% 41.37% 11.93% 13.07% -11.43% 4.35% -0.24% 4.82% 4.37% <-IRR #YR-> 10 Cash Flow less WC 53.35%
5 year Running Average $1,160 $1,279 $1,333 $1,364 $1,404 $1,457 $1,486 $1,549 $1,524 $1,575 $1,645 $1,777 $1,853 $2,017 $2,076 $2,113 4.32% <-IRR #YR-> 5 Cash Flow less WC 23.57%
CFPS Excl. WC $3.18 $3.30 $2.93 $3.05 $3.30 $3.45 $3.27 $3.24 $2.48 $3.44 $3.88 $4.51 $3.99 $4.16 $4.15 $4.35 3.35% <-IRR #YR-> 10 CF less WC 5 Yr Run 39.01%
Increase 3.20% 3.83% -11.20% 4.10% 8.24% 4.73% -5.28% -0.83% -23.54% 38.59% 12.75% 16.27% -11.54% 4.32% -0.24% 4.82% 3.65% <-IRR #YR-> 5 CF less WC 5 Yr Run 19.63%
5 year Running Average $2.69 $2.96 $3.07 $3.10 $3.15 $3.20 $3.20 $3.26 $3.15 $3.18 $3.26 $3.51 $3.66 $3.99 $4.14 $4.23 3.14% <-IRR #YR-> 10 CFPS - Less WC 36.21%
P/CF on Med Price 6.40 6.46 6.94 7.56 7.86 8.05 7.74 8.63 10.88 7.55 5.86 6.54 9.19 8.68 0.00 0.00 4.21% <-IRR #YR-> 5 CFPS - Less WC 22.89%
P/CF on Closing Price 6.89 6.79 6.89 8.33 8.30 7.65 8.02 8.63 10.61 7.36 6.29 8.24 8.53 9.56 9.58 9.14 1.78% <-IRR #YR-> 10 CFPS 5 yr Running 19.31%
*Operational Cash Flow per share CF/-WC P/CF Med 10 yr 8.10 5 yr  8.56 P/CF Med 10 yr 7.80 5 yr  7.55 22.48% Diff M/C 2.31% <-IRR #YR-> 5 CFPS 5 yr Running 12.10%
-443.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 500 Shares
-496.8 0.0 0.0 0.0 0.0 500 Shares
-$1,317 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,831 Cash Flow
-$1,502 $0 $0 $0 $0 $1,831 Cash Flow
-$2.97 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.67 Cash Flow per Share
-$3.02 $0.00 $0.00 $0.00 $0.00 $3.67 Cash Flow per Share
-$3.06 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.39 CFPS 5 yr Running
-$3.30 $0.00 $0.00 $0.00 $0.00 $3.39 CFPS 5 yr Running
-$1,299 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,992 Cash Flow less WC
-$1,612 $0 $0 $0 $0 $1,992 Cash Flow less WC
-$1,333 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,853 CF less WC 5 Yr Run
-$1,549 $0 $0 $0 $0 $1,853 CF less WC 5 Yr Run
-$2.93 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.99 CFPS - Less WC
-$3.24 $0.00 $0.00 $0.00 $0.00 $3.99 CFPS - Less WC
-$3.07 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.66 5 yr Running Average
-$3.26 $0.00 $0.00 $0.00 $0.00 $3.66 5 yr Running Average
Net change in non-cash balances -$11 $216 -$97 $72 -$110 $94 -$209 -$69 -$326 -$161
                   
Sum -$11 $216 -$97 $72 -$110 $94 -$209 -$69 -$326 -$161
Google --> TD Bank -$11 $216 -$97 $72 -$110 $94 -$209 -$69 -$326 -$161
Difference $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
TD Bank $216 -$106 $72 -$110 $178 <-chge '20
Difference $0 $9 $0 $0 restated
OPM 39.20% 26.19% 26.35% 26.62% 33.20% 28.06% 34.05% 30.77% 25.79% 29.36% 35.51% 34.91% 33.61% 38.18% 27.54% <-Total Growth 10 OPM
Increase -3.91% -33.18% 0.61% 1.04% 24.70% -15.48% 21.34% -9.64% -16.18% 13.87% 20.93% -1.70% -3.72% 13.61% Should increase or be stable.
Diff from Ave 22.55% -18.11% -17.61% -16.76% 3.80% -12.26% 6.46% -3.80% -19.37% -8.19% 11.03% 9.14% 5.08% 19.39% 0.00 <-Median-> 10 OPM
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 31.98% 5 Yrs 33.61% should be zero, it is a check on calculations
Long Term Debt $3,982 $5,256 $4,812 $3,868 $4,690 $5,061 $5,200 $4,298 $4,310 $4,057 $4,547 $4,549 $4,552 $4,053 -5.71% <-Total Growth 10 Debt
Change 31.99% -8.45% -19.62% 21.25% 7.91% 2.75% -17.35% 0.28% -5.87% 12.08% 0.04% 0.07% -10.96% 0.17% <-Median-> 10 Change
Debt/Market Cap Ratio 0.42 0.54 0.53 0.34 0.37 0.40 0.40 0.31 0.32 0.31 0.36 0.25 0.27 0.20 0.33 <-Median-> 10 Debt/Market Cap Ratio
Assets/Current Liabilities Ratio 17.05 9.92 12.10 10.65 9.94 14.43 17.40 12.86 14.06 7.06 10.78 12.80 12.10 12.67 12.45 <-Median-> 10 Assets/Current Liab Ratio
Current Liabilities/Asset Ratio 0.06 0.10 0.08 0.09 0.10 0.07 0.06 0.08 0.07 0.14 0.09 0.08 0.08 0.08 0.08 <-Median-> 10 Current Liab/Asset Ratio
Debt to Cash Flow (Years) 2.73 4.23 3.65 2.83 2.70 3.29 3.13 2.86 3.19 2.59 2.37 2.37 2.49 1.95 2.76 <-Median-> 10 Debt to Cash Flow (Years)
Intangibles $7,292 $7,355 $7,153 $7,198 $7,459 $7,450 $7,435 $7,482 $7,979 $7,997 $7,996 $7,998 $7,998 8.74% <-Total Growth 10 Intangibles
Goodwill $712 $715 $698 $698 $1,506 $1,172 $280 $280 $280 $280 $280 $280 $280 -60.84% <-Total Growth 10 Goodwill Broadcast rights and licenses, trademark, brands and wireless spectrum licenses
Total $7,292 $7,355 $7,153 $7,198 $7,459 $7,450 $7,435 $7,482 $7,979 $7,997 $7,996 $7,998 $7,998 8.74% <-Total Growth 10 Total
Change 0.86% -2.75% 0.63% 3.63% -0.12% -0.20% 0.63% 6.64% 0.23% -0.01% 0.03% 0.00% 0.13% <-Median-> 10 Change
Intangible/Market Cap Ratio 0.74 0.81 0.62 0.57 0.59 0.58 0.53 0.56 0.61 0.64 0.43 0.47 0.40 0.57 <-Median-> 10 Intangible/Market Cap Ratio
Current Assets $595.5 $1,262.3 $1,051 $1,195 $1,333 $1,009 $876 $1,118 $1,026 $2,216 $1,500 $1,234 $1,303 $1,242 Liquidity ratio of 1.5 and up, best
Current Liabilities $1,019.4 $1,131.3 $1,595 $2,205 $1,396 $1,938 $1,819 $1,392 $1,611 $2,835 $1,688 $1,560 $1,518 $1,826 0.79 <-Median-> 10 Ratio
Liquidity Ratio 0.58 1.12 0.66 0.54 0.95 0.52 0.48 0.80 0.64 0.78 0.89 0.79 0.86 0.68 0.79 <-Median-> 5 Ratio
Liq. with CF aft div 1.65 1.87 1.22 0.96 1.85 1.04 1.08 1.46 1.10 1.12 1.67 1.64 1.67 1.49 1.64 <-Median-> 5 Ratio
Liq. CF re  Inv+Div  0.61 0.85 0.76 0.74 1.07 0.52 0.64 1.46 0.64 0.80 0.99 1.00 0.98 1.49 0.98 <-Median-> 5 Ratio
Current Portion of Debt $451 $950 $0 $608 $412 $2 $1 $1,251 $1 $1 $1 $500
Liquidity Ratio 0.92 0.95 0.95 0.76 0.62 0.80 0.64 1.40 0.89 0.79 0.86 0.94 0.86 <-Median-> 5 Ratio
Liq. with CF aft div 1.70 1.68 1.85 1.51 1.40 1.46 1.10 2.00 1.67 1.65 1.68 2.06 1.67 <-Median-> 5 Ratio
Assets $10,154.0 $12,525.9 $12,722 $12,732 $13,250 $14,564 $15,239 $14,373 $14,424 $15,646 $16,165 $15,792 $15,768 $15,733 Debt Ratio of 1.5 and up, best
Liabilities $7,383.4 $9,068.0 $8,687 $8,319 $8,313 $8,918 $8,944 $8,219 $8,467 $9,361 $9,932 $9,749 $9,531 $9,322 1.64 <-Median-> 10 Ratio
Debt Ratio 1.38 1.38 1.46 1.53 1.59 1.63 1.70 1.75 1.70 1.67 1.63 1.62 1.65 1.69 1.65 <-Median-> 5 Ratio
Estimates BVPS $13.00 $13.20 $13.50 Estimates Estimates BVPS
Estimate Book Value $6,496.0 $6,595.9 $6,745.8 Estimates Estimate Book Value
P/B Ratio (Close) 3.06 3.01 2.95 Estimates P/B Ratio (Close)
Difference from 10 year median 26.15% Diff M/C Estimates Difference from 10 yr med.
Total Book Value $2,770.5 $3,457.8 $4,035 $4,413 $4,937 $5,646 $6,295 $6,154 $5,957 $6,285 $6,233 $6,043 $6,237 $6,411 54.57% <-Total Growth 10 Total Book Value
NCI $241.0 $281 $231 $235 $237 $1 $1 $1 $3 $0 $0 $0 $0 -100.00% <-Total Growth 10 NCI
Preferred Shares $293.2 $293 $293 $293 $293 $293 $293 $293 $293 $293 $0 $0 $0 -100.00% <-Total Growth 10 Preferred Shares Redeemed
Book Value $2,770.5 $2,923.7 $3,461 $3,889 $4,409 $5,116 $6,001 $5,860 $5,663 $5,989 $5,940 $6,043 $6,237 $6,411 $6,411 $6,411 80.21% <-Total Growth 10 Book Value
Book Value per Share $6.40 $6.68 $7.80 $8.59 $9.54 $10.80 $12.34 $11.80 $11.18 $11.59 $11.58 $12.11 $12.49 $12.83 $12.83 $12.83 60.06% <-Total Growth 10 Book Value per Share
Change 10.17% 4.42% 16.78% 10.10% 11.11% 13.13% 14.32% -4.42% -5.24% 3.68% -0.09% 4.61% 3.08% 2.76% 0.00% 0.00% 27.35% P/B Ratio Current/Historical
P/B Ratio (Median) 3.18 3.19 2.61 2.68 2.72 2.57 2.05 2.37 2.42 2.24 1.96 2.43 2.94 2.81 0.00 0.00 2.43 P/B Ratio Historical Median
P/B Ratio (Close) 3.42 3.35 2.58 2.96 2.87 2.45 2.13 2.37 2.35 2.18 2.11 3.07 2.72 3.10 3.10 3.10 4.82% <-IRR #YR-> 10 Book Value per Share 60.06%
Change 5.65% -1.91% -22.93% 14.34% -2.87% -14.70% -13.19% 11.68% -0.80% -7.29% -3.51% 45.53% -11.11% 13.73% 0.00% 0.00% 1.14% <-IRR #YR-> 5 Book Value per Share 5.84%
Leverage (A/BK) 3.66 3.62 3.15 2.89 2.68 2.58 2.42 2.34 2.42 2.49 2.59 2.61 2.53 2.45 2.55 <-Median-> 10 A/BV
Debt/Equity Ratio 2.66 2.62 2.15 1.89 1.68 1.58 1.42 1.34 1.42 1.49 1.59 1.61 1.53 1.45 1.55 <-Median-> 10 Debt/Eq Ratio
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Med 2.42 5 yr Med 2.42 27.82% Diff M/C 2.89 Historical Leverage (A/BK)
-$7.80 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $12.49
-$11.80 $0.00 $0.00 $0.00 $0.00 $12.49
$776 <-12 mths -4.90%
Comprehensive Income $580.34 $465.28 $697 $790 $841 $994 $1,193 $772 $152 $678 $683 $1,026 $816 17.07% <-Total Growth 10 Comprehensive Income
NCI $0.00 $19.09 $33 $38 $30 $24 $20 $0 $0 $2 $0 $0 $0 NCI
Preferred Dividends $0.00 $0.00 $13 $13 $13 $13 $13 $13 $13 $0 $0 $0 $0 Preferred
Shareholders $580.34 $446.19 $651 $739 $798 $957 $1,160 $759 $139 $676 $683 $1,026 $816 25.35% <-Total Growth 10 Comprehensive Income
Increase 4.70% -23.12% 45.90% 13.52% 7.98% 19.92% 21.21% -34.57% -81.69% 386.33% 1.04% 50.22% -20.47% 1.04% <-Median-> 5 Comprehensive Income
5 Yr Running Average $530 $528 $581 $594 $643 $718 $861 $883 $763 $738 $683 $657 $668 2.28% <-IRR #YR-> 10 Comprehensive Income 25.35%
ROE 20.9% 12.9% 16.1% 16.7% 16.2% 17.0% 18.4% 12.3% 2.3% 10.8% 11.0% 17.0% 13.1% 1.46% <-IRR #YR-> 5 Comprehensive Income 7.51%
5Yr Median 20.9% 20.9% 16.7% 16.2% 16.2% 16.7% 16.7% 16.2% 12.3% 11.0% 11.0% 11.0% 1.41% <-IRR #YR-> 10 5 Yr Running Average 15.07%
Difference from NI 1.7% -0.2% -1.6% 0.1% -0.9% 2.0% -0.7% -1.3% 1.5% -0.9% -0.1% 0.7% 0.8% -5.42% <-IRR #YR-> 5 5 Yr Running Average -24.31%
Median Values Diff 5, 10 yr 0.0% 0.7% 11.0% <-Median-> 5 Return on Equity
-$651.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $816.0
-$759.0 $0.0 $0.0 $0.0 $0.0 $816.0
-$580.5 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $668.0
-$882.6 $0.0 $0.0 $0.0 $0.0 $668.0
Current Liability Coverage Ratio 1.35 1.28 0.81 0.63 1.09 0.84 0.87 1.16 0.78 0.63 1.18 1.44 1.31 1.14   CFO / Current Liabilities
5 year Median 1.35 1.28 1.28 0.96 1.09 0.84 0.84 0.87 0.87 0.84 0.87 1.16 1.18 1.18 1.18 <-Median-> 5 Current Liability Cov Ratio
Asset Efficiency Ratio 13.55% 11.52% 10.21% 10.84% 11.50% 11.24% 10.44% 11.22% 8.71% 11.36% 12.30% 14.24% 12.63% 13.21% CFO / Total Assets
5 year Median 13.55% 13.55% 13.55% 11.52% 11.50% 11.24% 10.84% 11.22% 11.22% 11.22% 11.22% 11.36% 12.30% 12.63% 12.3% <-Median-> 5 Return on Assets 
Return on Assets ROA 5.25% 3.62% 5.62% 5.76% 6.37% 5.79% 7.92% 5.83% 0.33% 4.67% 4.26% 6.24% 4.85% 5.03% Net  Income/Assets Return on Assets ROA
5Yr Median 5.99% 5.25% 5.62% 5.62% 5.62% 5.76% 5.79% 5.83% 5.83% 5.79% 4.67% 4.67% 4.67% 4.85% 4.7% <-Median-> 5 Asset Efficiency Ratio ROA
Return on Equity ROE 19.23% 13.12% 17.72% 16.61% 17.10% 14.93% 19.17% 13.62% 0.79% 11.63% 11.04% 16.32% 12.25% 12.35% Net Inc/ Shareholders' equity Return on Equity ROE
5Yr Median 21.43% 19.48% 19.23% 17.72% 17.10% 16.61% 17.10% 16.61% 14.93% 13.62% 11.63% 11.63% 11.63% 12.25% 11.6% <-Median-> 5 Return on Equity ROE
$736 <-12 mths -3.66%
Net Income $532.73 $472.79 $761 $784 $887 $880 $1,240 $851 $60 $733 $688 $986 $764
NCI $0.00 $19.1 $33 $38 $30 $24 $20 $0 $0 $2 $0 $0 $0
Preferred Dividends $0.00 $0.00 $13 $13 $13 $13 $13 $13 $13 $0 $0 $0 $0 Preferred Dividends
Shareholders $532.73 $453.70 $715 $733 $844 $843 $1,207 $838 $47 $731 $688 $986 $764 $792 $820 $944 6.85% <-Total Growth 10 Net Income
Increase -0.47% -14.84% 57.59% 2.52% 15.14% -0.12% 43.18% -30.57% -94.39% 1455.32% -5.88% 43.31% -22.52% 3.66% 3.54% 15.12% EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average $517.3 $516.3 $582 $594 $656 $718 $868 $893 $756 $733 $702 $658 $643 $792 $810 $861 0.67% <-IRR #YR-> 10 Net Income 6.85%
Operating Cash Flow $1,457.2 $1,241.7 $1,317 $1,369 $1,740 $1,540 $1,663 $1,502 $1,351 $1,568 $1,920 $1,923 $1,831 -1.83% <-IRR #YR-> 5 Net Income -8.83%
Investment Cash Flow -$1,744.0 -$1,349.9 -$983 -$642 -$1,029 -$1,904 -$1,227 $49 -$1,174 -$1,133 -$1,154 -$997 -$1,075 1.01% <-IRR #YR-> 10 5 Yr Running Average 10.58%
Total Accruals $819.55 $561.92 $381 $6 $133 $1,207 $771 -$713 -$130 $296 -$78 $60 $8 -6.35% <-IRR #YR-> 5 5 Yr Running Average -27.97%
Total Assets $10,154.0 $12,525.9 $12,722 $12,732 $13,250 $14,564 $15,239 $14,373 $14,424 $15,646 $16,165 $15,792 $15,768 Balance Sheet Assets
Accruals Ratio 8.07% 4.49% 2.99% 0.05% 1.00% 8.29% 5.06% -4.96% -0.90% 1.89% -0.48% 0.38% 0.05% 0.05% <-Median-> 5 Ratio
EPS/CF Ratio 0.39 0.31 0.55 0.53 0.56 0.52 0.77 0.53 0.04 0.41 0.34 0.43 0.38 0.47 <-Median-> 10 EPS/CF Ratio
-$715 $0 $0 $0 $0 $0 $0 $0 $0 $0 $764
-$838 $0 $0 $0 $0 $764
-$582 $0 $0 $0 $0 $0 $0 $0 $0 $0 $643
-$893 $0 $0 $0 $0 $643
Change in Close 16.39% 2.42% -10.00% 25.89% 7.92% -3.50% -0.76% 6.75% -6.00% -3.88% -3.60% 52.23% -8.38% 16.87% 0.00% 0.00% count 30 Change in Close
up/down down down down count 9
Meet Prediction? Yes % right count 5 55.56%
Financial Cash Flow $50.32 $482.9 -$347 -$732 -$496 $124 -$429 -$1,448 -$300 $627 -$1,449 -$1,334 -$690 C F Statement  Financial Cash Flow
Total Accruals $769.23 $79.1 $728 $738 $629 $1,083 $1,200 $735 $170 -$331 $1,371 $1,394 $698 Accruals
Accruals Ratio 0.50% 3.85% -2.73% -5.75% -3.74% 0.85% -2.82% -10.07% -2.08% 4.01% -8.96% -8.45% -4.38% -4.38% <-Median-> 5 Ratio
Cash $216.74 $443.4 $427 $422 $637 $398 $405 $507 $384 $1,446 $763 $355 $421 $287 Cash
Cash per Share $0.50 $1.01 $0.96 $0.93 $1.38 $0.84 $0.83 $1.02 $0.76 $2.80 $1.49 $0.71 $0.84 $0.57 $0.84 <-Median-> 5 Cash per Share
Percentage of Stock Price 2.29% 4.52% 4.77% 3.67% 5.03% 3.18% 3.18% 3.64% 2.88% 11.06% 6.10% 1.92% 2.48% 1.44% 2.88% <-Median-> 5 % of Stock Price
Notes:
January 21, 2023.  Last estimates were for 2022, 2023 and 2024 of $5570M, $5665M and $5718M for Revenue, $1.55, $1.60 and $1.66 for EPS, 
$1.19, $1.23 and $1.31 for Dividends, $947M, $997M and $1,111M for FCF, $3.80, $4.11 and $4.34 for CFPS, $12.50, $12.90 and $13.50 for BVPS, $771M, $802M and $828M for Net Income.
January 22, 2022.  Last estimates were for  2021, 2022 and 2023 of $5485M, $5577M and $5635M for Revenue, $1.31, $1.39 and $1.46 for EPS,
 $1.19, $1.20 and $1.25 for Dividends, $845M, $844M and $1048M for FCF, $3.51 and $3.75 for CFPS for 2021-22, and $683M, and $713M for 2021-22 for Net Income.
January 23, 2021.  Last estimates were for 2020, 2021 and 2022 of $5486M, $8643M and $5745M for Revenue, $1.31, $1.44 and $1.58 for EPS, 
$1.19, $1.19 amd $1.24 for Dividends, $3.68, $3.88 and $3.98 for CFPS amd $693M, $751M and $818M for Net Income.
January 26, 2020,  Last estimates were for2019, 2020 and 2021 of $5478M, $5704M ad $5994M for Revenue, $1.37, $1.48 and $1.64 for EPS, 
$1.19, $1.20 and $1.24 for Dividends, $9.49, $3.62 and $3.74 for CFPS and $690M and $774M for Net Income for 2019 and 2020.
January 28, 2019.  Last estimates were for 2018, 2019 and 2020 of $5090M, $5347M and $5620M for Revenue, $1.22, $1.37 and $1.54 for EPS 
$3.30, $3.37 and $3.55 for CFPS and Net Income of $691M, $694M and $758M
January 28, 2018. Last estimates were for 2017, 2018 amd 2019 of $5312M, $5514M and $5684M for Revenue, $1.16, $1.43 and $1.53 for EPS, 
$3.46, $3.58 and $3.77 for CFPS and $537M, $700M and $747M for Net Income
January 31, 2017.  Last estimates were for 2016, 2017 and 2018 of $5616M, $5673M and $6260M for Revenue, $1.78, $1.60 and $1.68 for EPS, 
$3.02, $3.67 and $3.85 for CFPS and $891M and 816M for 2016 and 2017 for Net Income.
January 31, 2016.  Last estimates were for 2015, 2016 and 2017 of $5516M, $5617M and $5713M for Revenue, $1.81, $1.88 and $1.96 for EPS, 
$11.50, $10.10 and $12.50 for CFPS and $862M and $894M and $949M for net income.
January 30, 2015.  Last estimates were for 2014, 2015 and 2016 of $5286M, $5365M and $5508M for Revenue, $1.75, $1.78 and $1.89 for EPS, $7.56, $3.58 
and $3.93 for CFPS and $775M and $815M for Net Income for 2014 and 2015.
January 28, 2014.  Last estimates were for 2013 and 2014 of $5116M and $5207M for Revenue, $1.62 and $1.67 for EPS and $3.60 for CFPS for 2013.
January 20, 2013.  Last Estiamtes were for 2012 and 2013 at $5049M and $5178M for Revenue, $1.64 and $1.74 for EPS and $3.44 and $3.60 for CPFS.
Feb 5, 2012.  Last Estiamtes were for 2010 and 2011 at $1.39 and $1.52 for EPS and $2.68 and $3.12 for CF.
Jan 12, 2010.  Earnings were right on at $1.24 for 2009.  For 2010 I got earnings of $41.38.
Sep 19, 2009 AR 2008.  They seemed to revised very strong upward cash flow from operations for 2006 and 2007.  I did not change my figures.
A couple of sites show the 2008 EPS as 1.06.  I do not know why, but there seems to be included in the $1.55 a one time item. I cannot find this in the statements.
AR2004 I guess there is more to this stock than meets the eye.  Cash Flow ok, but hasn't made much of a profit, but P/E is very high. 
You would have to look at this stock from a different angle than revenues and earnings.  Also Debt is very high.  Do I really want a stock I do not understand? AP2004
1999.  Shaw A was listed as SJR.A on Alberta Stock Exchange, Shaw B listed on Alberta and TSX as SJR.B and NYSE as SJR.
1997.  Shaw A was listed on the Alberta Stock Exchange as SCL.A and Shaw B was listed on that exchange and TSX as SCL.B.
1983.  Shaw Communications went public
Got stock off Investment Reporter list (MPL Communitications Publication.
Sector:
Telecom Services, Utility
What should this stock accomplish?
You should expect a good dividend but some volatility in the growth of dividends. 
Would I buy this company and Why.
You would buy for diversification.  You should expect volatility in growth. 
Why am I following this stock. 
I am following this stock because it was a stock on Investment Reporter’s list, a MPL Communications Publication. 
Dividends
Dividends are paid monthly.  They are declared for shareholders of record mid-month and payable at the end of the month.
For example, the dividend for shareholders of record for March 15, 2013 was payble on March 27, 2013.
Unti December 2004, dividends used to be paid quarterly in Cycle 3.  Also, until April 2002, dividends were paid semi-annually in October and April.
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 Shaw says it is committed to providing unsurpassed customer service and exceptional customer experiences.  
For employees Shaw says its culture at Shaw is founded on creating workplaces where our employees want to build their careers.  
For Community, Shaw says it is proud to partner with a number of Canadian organizations focused on protecting and nurturing today’s children and youth for a bright, prosperous tomorrow.  
For investors:
How they make their money
Shaw Communications is a Canadian cable company that is one of the biggest providers of internet, television, and landline telephone services in 
British Columbia, Alberta, Saskatchewan, Manitoba, and northern Ontario.
Industry: Communications & Media (Cable). 
J.R. Shaw owns 79%.   SJR.B shares are non-voting and the SJR.A shares are voting shares. 
Class A shares are voting shares and Class B shares are non-voting shares.
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 Jan 31 2016 Jan 31 2017 Jan 28 2018 Jan 28 2019 Jan 26 2020 Jan 23 2021 Jan 22 2022 Jan 21 2023
Shaw, Bradley 19.74% 0.046 0.21% 0.046 0.21% 0.046 0.21% 0.046 0.21% 0.046 0.21% 0.006 0.03% 0.006 0.03% 0.023 0.10% A 260.38%
Chairman, CEO - Shares - Amount A $116.990 $1.217 $1.299 $1.221 $1.174 $1.132 $0.238 $0.218 $0.917 A
CEO - Shares -  B 1.87% 8.802 1.81% 8.813 1.77% 9.172 1.81% 9.181 1.78% 9.189 1.79% 6.109 1.22% 6.117 1.22% 6.128 1.23% B 0.18%
Class B - amount $234.444 $230.883 $246.774 $241.415 $232.274 $224.122 $226.841 $208.101 $243.659 B
Options - percentage 0.16% 0.817 0.17% 0.924 0.19% 0.619 0.12% 0.639 0.12% 0.369 0.07% 0.439 0.09% 0.458 0.09% 0.383 0.08% -16.30%
Options - amount $19.991 $21.421 $25.875 $16.305 $16.163 $8.989 $16.318 $15.571 $15.232
English, Trevor 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% A Was an officer until 2019 0.00%
CFO - Shares - Amount $0.007 $0.006 $0.006 $0.009 $0.009 $0.010 A
CFO - Shares -  B 0.015 0.00% 0.018 0.00% 0.021 0.00% 0.035 0.01% 0.041 0.01% 0.045 0.01% 0.049 0.22% B 9.67%
Class B - amount $0.420 $0.476 $0.532 $0.848 $1.533 $1.527 $1.957 B
Options - percentage 0.284 0.06% 0.245 0.05% 0.351 0.07% 0.300 0.06% 0.403 0.08% 0.402 0.08% 0.390 0.08% -3.00%
Options - amount $7.945 $6.452 $8.884 $7.321 $14.963 $13.662 $15.489
Culmone, Vito 0.000 0.00% A Ceased as insider May 2018
CFO - Shares - Amount $0.007 A
CFO - Shares -  B 0.002 0.00% 0.003 0.00% 0.006 0.00% B
Class B - amount $0.052 $0.081 $0.168 B
Options - percentage 0.140 0.03% 0.197 0.04% 0.248 0.05%
Options - amount $3.672 $5.523 $6.525
Emberly, Katherine 0.002 0.00% 0.012 0.00% 0.015 0.00% 0.018 0.00% 0.021 0.09% B 14.17%
Officer - Shares - Amount $0.057 $0.297 $0.558 $0.625 $0.834 B
Options - percentage 0.130 0.03% 0.152 0.03% 0.167 0.03% 0.166 0.03% 0.158 0.03% -4.65%
Options - amount $3.289 $3.718 $6.207 $5.631 $6.275
Bissonnette, Peter 0.18% 0.040 0.18% 0.040 0.18% 0.040 0.18% 0.040 0.18% A left in August 2015 0.00%
Director Class A $1.057 $1.120 $1.485 $1.361 $1.590 A Was officer, now Director
Class B Shares 0.04% 0.375 0.08% 0.375 0.08% 0.375 0.08% 0.375 0.08% B last filing Nov 2021 0.00%
Class B - amount $4.880 $10.497 $13.920 $12.754 $14.906 B
Options - percentage 0.22% 0.000 0.00% 0.017 0.00% 0.025 0.01% 0.032 0.01% 27.07%
Options - amount $27.752 $0.000 $0.646 $0.864 $1.283
Shaw, Julie 19.74% 0.032 0.14% 0.032 0.14% 0.032 0.14% 0.032 0.14% 0.002 0.01% 0.002 0.01% 0.015 0.07% A Last filing Jun 2022 520.75%
Officer Class A $116.990 $0.850 $0.907 $0.853 $0.820 $0.089 $0.082 $0.592 A was officer, now 10% holder
Class B Shares 1.74% 8.278 1.70% 8.295 1.67% 8.497 1.68% 8.501 1.65% 8.661 1.74% 8.661 1.73% 8.661 1.73% B 0.00%
Class B - amount $218.519 $217.134 $232.264 $223.652 $215.073 $321.592 $294.655 $344.371 B
Options - percentage 0.08% 0.395 0.08% 0.395 0.08% 0.195 0.04% 0.165 0.03% 0.040 0.01% 0.040 0.01% 0.040 0.01% 0.00%
Options - amount $10.176 $10.361 $11.060 $5.132 $4.175 $1.485 $1.361 $1.590
Burns, Adrian 0.01% 0.003 0.01% 0.003 0.01% 0.003 0.01% 0.003 0.01% 0.003 0.01% 0.003 0.01% 0.003 0.01% 0.003 0.01% A last filing Nov 2022 0.00%
Director Class A $0.069 $0.068 $0.073 $0.068 $0.066 $0.063 $0.097 $0.088 $0.103 A
Class B Shares 0.00% 0.006 0.00% 0.006 0.00% 0.006 0.00% 0.006 0.00% 0.006 0.00% 0.006 0.00% 0.006 0.00% 0.006 0.00% B 0.00%
Class B - amount $0.159 $0.157 $0.168 $0.158 $0.152 $0.146 $0.223 $0.204 $0.239 B
Options - percentage 0.02% 0.101 0.02% 0.101 0.02% 0.063 0.01% 0.063 0.01% 0.066 0.01% 0.069 0.01% 0.074 0.01% 0.084 0.02% 7.97%
Options - amount $2.490 $2.636 $2.814 $1.656 $1.592 $1.607 $2.557 $2.533 $3.336
Shaw, Jim 19.74% 0.032 0.14% 0.032 0.14% A
Director Class A $116.990 $0.839 $0.896 A
Class B Shares 1.90% 8.946 1.84% 8.951 1.80% B
Class B - amount $237.588 $234.661 $250.616 B
Options - percentage 0.22% 0.000 0.00% 0.000 0.00%
Options - amount $27.752 $0.000 $0.000
Shaw, J. R. 20.09% 17.672 78.82% 17.639 78.68% 17.639 78.68% 17.639 78.85% 17.639 78.85% A
Chairman Class A $119.025 $463.531 $493.903 $464.269 $446.277 $430.225 A
Class B Shares 2.12% 10.105 2.08% 2.621 0.53% 3.467 0.68% 3.920 0.76% 4.075 0.79% B
Class B - amount $265.574 $265.067 $73.401 $91.262 $99.166 $99.385 B
Options - percentage 0.00% 0.000 0.00% 0.000 0.00% 0.300 0.06% 0.150 0.03% 0.000 0.00%
Options - amount $0.000 $0.000 $0.000 $7.896 $3.795 $0.000
Class A  79.51% 79.33% 79.36%
Increase in O/S Shares 0.74% 5.872 1.24% 1.827 0.38% 3.257 0.66% 1.855 0.36% 1.658 0.32% 0.412 0.08% 0.688 0.14% 0.638 0.13%
due to SO 2013 $93.990 $155.187 $47.925 $91.195 $48.813 $41.959 $10.055 $25.560 $21.699
Book Value $81.000 $152.000 $43.000 $93.000 $48.000 $39.000 $7.005 $19.000 $18.000
Insider Buying -$2.639 -$2.941 -$13.932 -$10.683 $0.000 $0.000 $0.000 -$1.061 $0.000 zeros in 2023
Insider Selling $21.102 $56.631 $23.844 $38.852 $23.532 $25.567 $34.217 $0.097 $0.000
Net Insider Selling $18.462 $53.690 $9.912 $28.169 $23.532 $25.567 $34.217 -$0.964 $0.000
% of Market Cap 0.15% 0.42% 0.07% 0.21% 0.18% 0.20% 0.18% -0.01% 0.00%
Directors 16 16 15 15 16 13 13 13
Women 13% 2 13% 2 13% 2 13% 2 13% 2 13% 2 15% 2 15% 2 15%
Minorities 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0%
Institutions/Holdings 0.00% 408 60.85% 206 52.54% 225 52.54% 223 53.13% 20 15.19% 20 40.63% 20 38.92%
Total Shares Held 47.93% 275.477 56.65% 244.413 49.20% 251.347 49.61% 258.836 50.09% 78.180 15.24% 202.781 40.59% 194.522 38.93%
Increase/Decrease -1.71% 1.136 0.41% 4.088 1.70% 6.492 2.65% -5.612 -2.12% 1.599 2.09% 9.497 4.91% 9.668 5.23%
Starting No. of Shares 274.341 240.325 Nasdaq 244.855 Nasdaq 264.448 Nasdaq 76.581 Top 2 MS 193.284 Top 2 MS 184.854 Top 20 MS
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