This report is for educational purposes only, and not to provide investment advice.  Before making any investment decision, you should always do your own research or consult a investment professional. Estimates Estimates Estimates
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet. Q1 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
Sun Life Financial Inc TSX SLF NYSE SLF https://www.sunlife.com/en/ 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 IFRS IFRS IFRS IFRS IFRS IFRS Accounting Rules
General fund assets (Mil) $197,090 $205,374 $205,614 $204,789 $221,935 General fund assets (Mil)
Segregated funds (Mil) $125,921 $139,996 $125,292 $128,452 $148,786 Segregated funds (Mil)
Asset ManagmentTotal (Mil) $323,011 $345,370 $330,906 $333,241 $370,721 Asset ManagmentTotal (Mil)
Assets under Management (BIL) $533 $640 $734 $891 $903 $975 $951 $1,099 $1,247 $1,445 $1,326 $1,400 $1,542 110.00% <-Total Growth 10 Assets under Management Incl. Other
Increase 14.41% 20.07% 14.79% 21.36% 1.34% 7.92% -2.43% 15.58% 13.39% 15.90% -8.23% 5.56% 10.20% 7.01% <-IRR #YR-> 5 Assets under Management AUM
5 year Running Average $455 $507 $567 $653 $740 $829 $891 $964 $1,035 $1,143 $1,214 $1,303 $1,392 7.70% <-IRR #YR-> 10 Assets under Management
AUM per Share $88.87 $104.99 $119.79 $145.57 $147.21 $159.67 $158.92 $187.03 $213.05 $246.54 $226.10 $239.41 $268.74 8.38% <-IRR #YR-> 5 AUM per Share
Increase 12.20% 18.14% 14.09% 21.52% 1.13% 8.46% -0.47% 17.69% 13.91% 15.72% -8.29% 5.89% 12.25% 8.42% <-IRR #YR-> 10 AUM per Share
5 year Running Average $78.74 $86.13 $94.75 $107.69 $121.29 $135.45 $146.23 $159.68 $173.18 $193.04 $206.33 $222.43 $238.77
Assets under Management (AUM)
$49,913 <-12 mths 29.20% Estimates last 12 months from Qtr.
Adjusted Revenue* $20,425 $23,262 $24,157 $24,332 $28,666 $30,129 $31,034 $32,792 $43,337 $35,668 $23,322 $40,774 $38,633 $48,080 $49,868 $51,957 59.92% <-Total Growth 10 Revenue analysts
Increase -9.07% 13.89% 3.85% 0.72% 17.81% 5.10% 3.00% 5.66% 32.16% -17.70% -34.61% 74.83% -5.25% 24.45% 3.72% 4.19% 3.33% <-IRR #YR-> 5 Revenue 17.81%
5 year Running Average $22,305 $22,505 $22,473 $22,928 $24,168 $26,109 $27,664 $29,391 $33,192 $34,592 $33,231 $35,179 $36,347 $37,295 $40,135 $45,862 4.81% <-IRR #YR-> 10 Revenue 59.92%
Revenue per Share $34.06 $38.17 $39.40 $39.74 $46.72 $49.35 $51.85 $55.79 $74.07 $60.87 $39.77 $69.75 $67.32 $83.78 $86.89 $90.53 4.34% <-IRR #YR-> 5 5 yr Running Average 23.67%
Increase -10.83% 12.06% 3.22% 0.86% 17.56% 5.64% 5.07% 7.59% 32.77% -17.82% -34.66% 75.37% -3.48% 24.45% 3.72% 4.19% 4.93% <-IRR #YR-> 10 5 yr Running Average 61.74%
5 year Running Average $38.71 $38.40 $37.65 $37.92 $39.62 $42.68 $45.41 $48.69 $55.56 $58.39 $56.47 $60.05 $62.35 $64.30 $69.50 $79.65 3.83% <-IRR #YR-> 5 Revenue per Share 20.67%
P/S (Price/Sales) Med 0.70 0.84 1.00 1.04 0.97 0.98 0.95 0.95 0.69 1.05 1.61 0.94 1.13 0.96 0.00 0.00 5.50% <-IRR #YR-> 10 Revenue per Share 70.85%
P/S (Price/Sales) Close 0.77 0.98 1.06 1.09 1.10 1.05 0.87 1.06 0.76 1.16 1.58 0.99 1.27 0.94 0.91 0.87 5.07% <-IRR #YR-> 5 5 yr Running Average 28.06%
Adjusted Revenue from 2007 P/S Med 20 yr  0.96 15 yr  0.95 10 yr  0.97 5 yr  1.05 -3.63% Diff M/C 5.17% <-IRR #YR-> 10 5 yr Running Average 65.60%
Wealth Sales $220,860 $228,408 $204,113 $173,820 $196,074 Wealth Sales
Premiums (Annuities, Life, Health) $26,190 $25,506 $29,160 $21,356 $22,637 Premiums (Annuities, Life, Health)
Total $247,050 $253,914 $233,273 $195,176 $218,711 Total
Total Premiums and Deposits $108,073 $124,707 $122,480 $136,150 $158,459 $164,680 $160,108 $183,946 $248,394 $253,914 $233,273 $195,176 $218,711 78.57% <-Total Growth 10 Total Premiums and Deposits
Increase 37.91% 15.39% -1.79% 11.16% 16.39% 3.93% -2.78% 14.89% 35.04% 2.22% -8.13% -16.33% 12.06% 7.5% <-Median-> 10 Increase
Net Premiums (Insurance) $8,247 $9,639 $9,996 $10,395 $15,048 $15,281 $18,642 $20,288 $23,738 $23,053 $29,160 $21,356 $22,637 126.46% <-Total Growth 10 Net Premiums (Insurance)
Investment Income $11,586 $7,415 Investment Income
Fee Income $7,832 $8,581 Fee Income
$40,774 $38,633
Estimates last 12 months from Qtr.
Comments
Premiums Gross $25,506 $29,160 $21,356 $22,637 Premiums Gross
Ceded $2,453 $2,297 $69 -$85 Ceded
Net Premiums $23,053 $26,863 $21,287 $22,722 Net Premiums
Net Investment excluding Seg $4,633 -$11,587 $1,639 $1,934 Net Investment excluding Seg
Net Investment for insurance 0 0 $0 $0 Net Investment for insurance
Fee Income $8,002 $8,046 $7,832 $8,581 Fee Income
Sum $35,688 $23,322 $30,758 $33,237 Sum
Revenue* $17,559 $13,874 $25,764 $19,274 $28,573 $29,334 $26,997 $39,679 $43,337 $35,668 $23,322 $30,758 $33,237 29.01% <-Total Growth 10 Revenue*
Increase -22.24% -20.99% 85.70% -25.19% 48.25% 2.66% -7.97% 46.98% 9.22% -17.70% -34.61% 31.88% 8.06% 2.58% <-IRR #YR-> 10 Revenue 29.01%
5 year Running Average $21,583 $21,245 $20,884 $19,810 $21,009 $23,364 $25,988 $28,771 $33,584 $35,003 $33,801 $34,553 $33,264 -3.48% <-IRR #YR-> 5 Revenue -16.24%
Revenue per Share $29.28 $22.77 $42.02 $31.48 $46.57 $48.05 $45.11 $67.50 $74.07 $60.87 $39.77 $52.61 $57.91 4.77% <-IRR #YR-> 10 5 yr Running Average 59.28%
Increase -23.74% -22.26% 84.58% -25.09% 47.93% 3.18% -6.12% 49.65% 9.72% -17.82% -34.66% 32.29% 10.07% 2.94% <-IRR #YR-> 5 5 yr Running Average 15.62%
5 year Running Average $37.46 $36.45 $35.08 $32.79 $34.42 $38.18 $42.64 $47.74 $56.26 $59.12 $57.46 $58.96 $57.05 3.26% <-IRR #YR-> 10 Revenue per Share 37.82%
P/S (Price/Sales) Med 0.81 1.41 0.93 1.32 0.97 1.00 1.09 0.78 0.69 1.05 1.61 1.25 1.32 -3.02% <-IRR #YR-> 5 Revenue per Share -14.21%
P/S (Price/Sales) Close 0.90 1.65 1.00 1.37 1.11 1.08 1.00 0.88 0.76 1.16 1.58 1.31 1.47 4.98% <-IRR #YR-> 10 5 yr Running Average 62.62%
*Total Revenue in M CDN $  P/S Med 10 yr  1.07 5 yr  1.25 3.63% <-IRR #YR-> 5 5 yr Running Average 19.49%
-$25,764 $0 $0 $0 $0 $0 $0 $0 $0 $0 $33,237
-$39,679 $0 $0 $0 $0 $33,237
-$20,884 $0 $0 $0 $0 $0 $0 $0 $0 $0 $33,264
-$28,771 $0 $0 $0 $0 $33,264
-$42.02 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $57.91
-$67.50 $0.00 $0.00 $0.00 $0.00 $57.91
-$35.08 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $57.05
-$47.74 $0.00 $0.00 $0.00 $0.00 $57.05
$6.88 <-12 mths 3.30% Estimates Last 12 months from Qtr
Payout Ratio Adjusted EPS 47.61% 46.39% 43.65% Estimates Payout Ratio EPS
Adjusted Net Income $1,293 $1,603 $1,816 $2,305 $2,335 $2,546 $2,949 $3,057 $3,213 $3,533 $3,674 $3,728 $3,856 112.33% <-Total Growth 10 Adjusted Net Income
Return on Equity ROE 9.63% 11.43% 11.51% 12.60% 12.29% 13.15% 14.21% 14.81% 14.83% 14.80% 14.69% 17.63% 16.65%
5Yr Median 5.53% 9.63% 10.45% 11.43% 11.51% 12.29% 12.60% 13.15% 14.21% 14.80% 14.80% 14.81% 14.83%
Adjusted Diluted EPS $2.14 $2.61 $2.14 $3.76 $3.80 $4.15 $4.86 $5.16 $5.49 $6.03 $6.27 $6.36 $6.66 $7.33 $8.06 $8.51 211.21% <-Total Growth 10 AEPS
Increase 511.54% 21.96% -18.01% 75.70% 1.06% 9.21% 17.11% 6.17% 6.40% 9.84% 3.98% 1.44% 4.72% 10.06% 9.96% 5.58% 10 0 10 Years of Data, EPS P or N 100.00%
Adjusted EPS Yield 8.12% 6.96% 5.10% 8.71% 7.37% 8.00% 10.73% 8.71% 9.70% 8.56% 9.98% 9.25% 7.80% 9.32% 10.25% 10.82% 12.02% <-IRR #YR-> 10 AEPS 211.21%
5 year Running Average $1.34 $1.59 $1.83 $2.03 $2.89 $3.29 $3.74 $4.35 $4.69 $5.14 $5.56 $5.86 $6.16 $6.53 $6.94 $7.38 5.24% <-IRR #YR-> 5 AEPS 29.07%
Payout Ratio 67.29% 55.17% 67.29% 40.16% 42.24% 42.05% 39.20% 40.70% 40.07% 38.31% 44.02% 47.17% 48.65% 45.84% 41.69% 39.48% 12.93% <-IRR #YR-> 10 5 yr Running Average 237.46%
5 year Running Average 20.17% 10.18% -7.00% -9.40% 54.43% 49.38% 46.19% 40.87% 40.85% 40.06% 40.46% 42.05% 43.64% 44.80% 45.47% 44.57% 7.23% <-IRR #YR-> 5 5 yr Running Average 41.79%
Price/AEPS Median 11.09 12.28 18.35 11.04 11.94 11.63 10.16 10.27 9.29 10.59 10.19 10.31 11.45 11.00 0.00 0.00 10.45 <-Median-> 10 Price/AEPS Median
Price/AEPS High 13.07 14.39 20.16 12.13 14.08 12.69 11.40 11.91 12.10 11.84 11.77 11.09 13.18 11.62 0.00 0.00 12.00 <-Median-> 10 Price/AEPS High
Price/AEPS Low 9.11 10.16 16.54 9.95 9.80 10.56 8.92 8.63 6.48 9.35 8.61 9.52 9.72 10.37 0.00 0.00 9.43 <-Median-> 10 Price/AEPS Low
Price/AEPS Close 12.32 14.38 19.59 11.48 13.57 12.50 9.32 11.47 10.31 11.68 10.02 10.81 12.82 10.73 9.76 9.24 11.48 <-Median-> 10 Price/AEPS Close
Trailing P/AEPS Close -50.71 17.53 16.06 20.16 13.71 13.65 10.91 12.18 10.97 12.83 10.42 10.96 13.42 11.81 10.73 9.76 12.50 <-Median-> 10 Trailing P/AEPS Close
Median Values Historical   in order 11.07 12.41 9.62 12.00 P/CF 5 Yrs   in order 10.31 11.84 9.35 10.81 4.14% Diff M/C DPR 75% to 95% best
* Underlying Net Income
-$2.14 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $6.66
-$5.16 $0.00 $0.00 $0.00 $0.00 $6.66
-$1.83 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $6.16
-$4.35 $0.00 $0.00 $0.00 $0.00 $6.16
$5.48 <-12 mths 4.18% Estimates Last 12 months from Qtr
Difference Basic and Diluted 1.15% 0.64% 0.69% 0.56% 0.49% 0.57% 0.48% 0.45% 0.24% 0.45% 0.19% 0.19% -131.72% 0.45% <-Median-> 10 Difference Basic and Diluted
EPS Basic $2.62 $1.56 $2.88 $3.57 $4.05 $3.51 $4.16 $4.42 $4.11 $6.72 $5.22 $5.27 $2.27 -21.18% <-Total Growth 10 EPS Basic
EPS Diluted* $2.59 $1.55 $2.86 $3.55 $4.03 $3.49 $4.14 $4.40 $4.10 $6.69 $5.21 $5.26 $5.26 $6.94 $7.64 $7.49 83.92% <-Total Growth 10 EPS Diluted
Increase -598.1% -40.2% 84.5% 24.1% 13.5% -13.4% 18.6% 6.3% -6.8% 63.2% -22.1% 1.0% 0.0% 31.9% 10.1% -2.0% 10 0 10 Years of Data, EPS P or N 100.00%
Earnings Yield 9.8% 4.1% 6.8% 8.2% 7.8% 6.7% 9.1% 7.4% 7.2% 9.5% 8.3% 7.7% 6.2% 8.8% 9.7% 9.5% 13.00% <-IRR #YR-> 10 Earnings per Share 83.92%
5 year Running Average $1.43 $1.46 $1.85 $2.01 $2.92 $3.10 $3.61 $3.92 $4.03 $4.56 $4.91 $5.13 $5.30 $5.87 $6.06 $6.52 4.91% <-IRR #YR-> 5 Earnings per Share 19.55%
10 year Running Average $2.26 $2.20 $2.21 $2.25 $2.30 $2.26 $2.54 $2.89 $3.02 $3.74 $4.00 $4.37 $4.61 $4.95 $5.31 $5.71 13.36% <-IRR #YR-> 10 5 yr Running Average 187.01%
* ESP per share  (to 2000 Net Income/ shares o/s Dec 31, 2000 ) E/P 10 Yrs 7.74% 5Yrs 7.65% 7.27% <-IRR #YR-> 5 5 yr Running Average 35.24%
-$1.55 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5.26
-$4.14 $0.00 $0.00 $0.00 $0.00 $5.26
-$1.46 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 5.132
-$3.61 $0.00 $0.00 $0.00 $0.00 5.132
Dividend Estimates $3.49 $3.74 $3.72 Estimates Dividends
Increase 7.72% 7.13% -0.64% Increase Increase
Payout Ratio EPS 50.29% 48.95% 49.60% 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
Dividend* $1.44 $1.44 $1.44 $1.51 $1.61 $1.75 $1.91 $2.10 $2.20 $2.31 $2.76 $3.00 $3.24 $3.36 $3.36 $3.36 125.00% <-Total Growth 10 Dividends
Increase 0.00% 0.00% 0.00% 4.86% 6.29% 8.72% 9.17% 10.24% 4.76% 5.00% 19.48% 8.70% 8.00% 3.70% 0.00% 0.00% 17 0 25 Years of data, Count P, N 68.00%
Average Increases 5 Year Running 1.82% 0.00% 0.00% 0.97% 2.23% 3.98% 5.81% 7.86% 7.84% 7.58% 9.73% 9.63% 9.19% 8.98% 7.98% 4.08% 7.71% <-Median-> 10 Average Incr 5 Year Running
Dividends 5 Yr Running $1.44 $1.44 $1.44 $1.45 $1.49 $1.55 $1.64 $1.77 $1.91 $2.05 $2.26 $2.47 $2.70 $2.93 $3.14 $3.26 87.64% <-Total Growth 10 Dividends 5 Yr Running
Yield H/L Price 6.07% 4.49% 3.67% 3.64% 3.54% 3.62% 3.86% 3.96% 4.31% 3.62% 4.32% 4.58% 4.25% 4.17% 3.91% <-Median-> 10 Yield H/L Price Item
Yield on High  Price 5.15% 3.83% 3.34% 3.31% 3.00% 3.31% 3.44% 3.42% 3.31% 3.24% 3.74% 4.25% 3.69% 3.95% 3.37% <-Median-> 10 Yield on High  Price EPS
Yield on Low Price 7.38% 5.43% 4.07% 4.04% 4.31% 3.98% 4.39% 4.71% 6.19% 4.10% 5.11% 4.95% 5.00% 4.42% 4.55% <-Median-> 10 Yield on Low Price AEPS
Yield on Close Price 5.46% 3.84% 3.44% 3.50% 3.11% 3.36% 4.21% 3.55% 3.89% 3.28% 4.39% 4.37% 3.80% 4.27% 4.27% 4.27% 3.67% <-Median-> 10 Yield on Close Price CFPS
Payout Ratio EPS 55.60% 92.90% 50.35% 42.54% 39.83% 50.00% 46.01% 47.73% 53.66% 34.53% 52.98% 57.03% 61.60% 48.41% 43.98% 44.86% 48.86% <-Median-> 10 DPR EPS FCF 1
DPR EPS 5 Yr Running 100.84% 98.36% 77.92% 72.48% 50.99% 50.00% 45.41% 45.21% 47.40% 44.96% 45.95% 48.21% 50.94% 49.97% 51.87% 50.08% 47.80% <-Median-> 10 DPR EPS 5 Yr Running FCF 2
Payout Ratio CFPS 115.43% 139.96% 48.94% 20.73% 26.85% 53.70% 29.74% 48.46% 17.75% -72.89% 37.54% 31.25% 73.44% 38.80% #DIV/0! #DIV/0! 30.49% <-Median-> 10 DPR CF
DPR CF 5 Yr Running 35.56% 39.62% 48.57% 42.46% 40.23% 37.78% 31.73% 32.53% 29.52% 44.19% 41.27% 40.54% 44.16% 54.63% #DIV/0! #DIV/0! 40.38% <-Median-> 10 DPR CF 5 Yr Running
Payout Ratio CFPS WC 23.14% 16.45% 15.57% 17.98% 14.99% 16.58% 16.26% 0.00% 0.00% 19.56% 7.38% 0.00% 38.21% 38.80% #DIV/0! #DIV/0! 15.63% <-Median-> 10 DPR CF WC
DPR CF WC 5 Yr Running 28.76% 24.88% 22.78% 20.12% 17.16% 16.25% 16.22% 25.42% 47.88% 48.71% 23.51% 34.66% 26.68% 22.29% #DIV/0! #DIV/0! 24.47% <-Median-> 10 DPR CF WC 5 Yr Running
Median Values 10 Yr Med 10 Yr Cl 3.91% 3.67% 5 Yr Med 5 Yr Cl 4.31% 3.89% 5 Yr Med Payout 53.66% 31.25% 7.38% 9.06% <-IRR #YR-> 5 Dividends 54.29%
* Dividends per share  10 Yr Med and Cur. 9.20% 16.33% 5 Yr Med and Cur. -0.99% 9.88% Last Div Inc ---> $0.810 $0.840 3.70% 8.45% <-IRR #YR-> 10 Dividends 125.00%
Dividends Growth 15 5.56% <-IRR #YR-> 15 Dividends 125.00%
Dividends Growth 20 6.86% <-IRR #YR-> 20 Dividends 276.74%
Dividends Growth 25 7.94% <-IRR #YR-> 25 Dividends
Dividends Growth 5 -$2.10 $0.00 $0.00 $0.00 $0.00 $3.24 Dividends Growth 5
Dividends Growth 10 -$1.44 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.24 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 $3.24 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 $3.24 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 $3.24 Dividends Growth 25
Historical Dividends Historical High Div 7.73% Low Div 1.45% 10 Yr High 6.08% 10 Yr Low 3.02% Med Div 3.67% Close Div 3.52% Historical Dividends
High/Ave/Median Values Curr diff Exp. -44.75%     194.55% Exp. -29.75% 41.42% Cheap 16.38% Cheap 21.23% High/Ave/Median 
Future Dividend Yield Div Yd $0.07 earning in 5 Years at IRR of 9.06% Div Inc. 54.29% Future Dividend Yield
Future Dividend Yield Div Yd 10.17% earning in 10 Years at IRR of 9.06% Div Inc. 138.04% Future Dividend Yield
Future Dividend Yield Div Yd 15.69% earning in 15 Years at IRR of 9.06% Div Inc. 267.26% Future Dividend Yield
Future Dividend Paid Div Paid $5.18 earning in 5 Years at IRR of 9.06% Div Inc. 54.29% Future Dividend Paid
Future Dividend Paid Div Paid $8.00 earning in 10 Years at IRR of 9.06% Div Inc. 138.04% Future Dividend Paid
Future Dividend Paid Div Paid $12.34 earning in 15 Years at IRR of 9.06% Div Inc. 267.26% Future Dividend Paid
Dividend Covering Cost Total Div $20.13 over 5 Years at IRR of 9.06% Div Cov. 25.59% Dividend Covering Cost
Dividend Covering Cost Total Div $46.01 over 10 Years at IRR of 9.06% Div Cov. 58.49% Dividend Covering Cost
Dividend Covering Cost Total Div $85.94 over 15 Years at IRR of 9.06% Div Cov. 109.24% Dividend Covering Cost
I am earning GC Div Gr 600.00% 3/31/00 # yrs -> 24 2000 $13.46 Cap Gain 484.47% I am earning GC
I am earning Div org yield 3.57% 12/31/15 Pension Div G Yrly 13.14% Div start $0.48 -3.57% 24.96% I am earning Div
I am earning GC Div Gr 500.00% 12/28/01 # yrs -> 23 2001 $34.19 Cap Gain 130.13% I am earning GC
I am earning Div org yield 1.64% 12/31/15 RRSP Div G Yrly 13.64% Div start $0.56 -1.64% 9.83% I am earning Div
Yield if held 5 years 2.78% 3.87% 5.44% 5.26% 6.19% 7.35% 5.94% 5.35% 5.30% 5.09% 5.72% 6.08% 6.11% 6.59% 5.26% 5.26% 5.83% <-Median-> 10 Paid Median Price
Yield if held 10 years 4.89% 4.86% 3.93% 3.57% 3.44% 3.37% 5.12% 7.93% 7.66% 8.90% 11.63% 9.36% 8.25% 8.09% 7.41% 6.96% 7.80% <-Median-> 10 Paid Median Price
Yield if held 15 years 5.66% 4.78% 5.93% 6.43% 5.73% 5.19% 4.95% 5.34% 8.06% 12.23% 11.71% 12.95% 14.16% 5.70% <-Median-> 10 Paid Median Price
Yield if held 20 years 8.25% 6.88% 9.38% 10.13% 8.85% 7.93% 7.20% 6.50% 8.85% <-Median-> 5 Paid Median Price
Yield if held 25 years 10.01% 11.42%
Cost covered if held 5 years 13.92% 19.35% 27.18% 25.33% 28.66% 32.62% 25.60% 22.57% 23.02% 22.62% 23.37% 25.06% 25.50% 28.76% 24.61% 25.54% 25.19% <-Median-> 10 Paid Median Price
Cost covered if held 10 years 41.44% 43.74% 36.96% 33.19% 31.10% 28.89% 41.41% 60.65% 58.61% 68.20% 80.13% 64.21% 56.98% 58.35% 57.27% 57.19% 57.80% <-Median-> 10 Paid Median Price
Cost covered if held 15 years 66.07% 55.84% 67.75% 71.45% 61.16% 55.75% 53.09% 50.69% 74.65% 111.65% 109.72% 128.79% 148.90% 63.62% <-Median-> 10 Paid Median Price
Cost covered if held 20 years 101.89% 86.39% 106.07% 113.22% 98.05% 90.39% 86.77% 82.24% 101.89% <-Median-> 5 Paid Median Price
Cost covered if held 25 years 133.20% 161.53%
Yr  Item Tot. Growth
Revenue Growth  $39,679 $43,337 $35,668 $23,322 $30,758 $33,237 $49,913 <-12 mths 50.17% -16.24% <-Total Growth 5 Revenue Growth  -16.24%
AEPS Growth $5.16 $5.49 $6.03 $6.27 $6.36 $6.66 $6.88 <-12 mths 3.30% 29.07% <-Total Growth 5 AEPS Growth 29.07%
Net Income Growth $2,618 $2,404 $3,934 $3,060 $3,086 $3,049 $3,182 <-12 mths 4.36% 16.46% <-Total Growth 5 Net Income Growth 16.46%
Cash Flow Growth $2,547 $7,253 -$1,857 $4,311 $5,612 $2,532 -0.59% <-Total Growth 5 Cash Flow Growth -0.59%
Dividend Growth $2.10 $2.20 $2.31 $2.76 $3.00 $3.24 $3.36 <-12 mths 3.70% 54.29% <-Total Growth 5 Dividend Growth 54.29%
Stock Price Growth $59.21 $56.60 $70.41 $62.85 $68.72 $85.35 $78.67 <-12 mths -7.83% 44.15% <-Total Growth 5 Stock Price Growth 44.15%
Revenue Growth  $25,764 $19,274 $28,573 $29,334 $26,997 $39,679 $43,337 $35,668 $23,322 $30,758 $33,237 $48,080 <-this year 44.66% 29.01% <-Total Growth 10 Revenue Growth  29.01%
AEPS Growth $2.14 $3.76 $3.80 $4.15 $4.86 $5.16 $5.49 $6.03 $6.27 $6.36 $6.66 $7.33 <-this year 10.06% 211.21% <-Total Growth 10 AEPS Growth 211.21%
Net Income Growth $1,762 $2,185 $2,485 $2,149 $2,522 $2,618 $2,404 $3,934 $3,060 $3,086 $3,049 $4,073 <-this year 33.58% 73.04% <-Total Growth 10 Net Income Growth 73.04%
Cash Flow Growth $1,804 $4,461 $3,668 $1,984 $3,834 $2,547 $7,253 -$1,857 $4,311 $5,612 $2,532 $4,970 <-this year 96.29% 40.35% <-Total Growth 10 Cash Flow Growth 40.35%
Dividend Growth $1.44 $1.51 $1.61 $1.75 $1.91 $2.10 $2.20 $2.31 $2.76 $3.00 $3.24 $3.49 <-this year 7.72% 125.00% <-Total Growth 10 Dividend Growth 125.00%
Stock Price Growth $41.92 $43.15 $51.55 $51.88 $45.29 $59.21 $56.60 $70.41 $62.85 $68.72 $85.35 $87.46 <-this year 2.47% 103.60% <-Total Growth 10 Stock Price Growth 103.60%
Dividends on Shares $36.24 $38.52 $41.88 $45.72 $50.40 $52.80 $55.44 $66.24 $72.00 $77.76 $80.64 $80.64 $80.64 $537.00 No of Years 10 Total Divs 12/31/14
Paid  $1,006.08 $1,035.60 $1,237.20 $1,245.12 $1,086.96 $1,421.04 $1,358.40 $1,689.84 $1,508.40 $1,649.28 $2,048.40 $1,888.08 $1,888.08 $1,888.08 $2,048.40 No of Years 10 Worth $41.92
Total $2,585.40
Graham Price AEPS $32.83 $36.76 $35.20 $50.28 $51.46 $54.42 $61.57 $63.85 $67.63 $74.35 $77.57 $71.94 $77.76 $81.55 $85.51 $87.86 120.91% <-Total Growth 10 Graham Price AEPS
Price/GP Ratio Med 0.72 0.87 1.12 0.83 0.88 0.89 0.80 0.83 0.75 0.86 0.82 0.91 0.98 0.99 0.84 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 0.85 1.02 1.23 0.91 1.04 0.97 0.90 0.96 0.98 0.96 0.95 0.98 1.13 1.04 0.96 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 0.59 0.72 1.01 0.74 0.72 0.81 0.70 0.70 0.53 0.76 0.70 0.84 0.83 0.93 0.73 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 0.80 1.02 1.19 0.86 1.00 0.95 0.74 0.93 0.84 0.95 0.81 0.96 1.10 0.96 0.92 0.90 0.94 <-Median-> 10 Price/GP Ratio
Prem/Disc Close -17.89% 2.68% 16.51% -14.59% 0.18% -5.09% -28.65% -7.87% -18.87% -5.03% -20.82% -4.92% 10.98% -3.62% -8.22% -11.15% -6.48% <-Median-> 10 Graham Price
Graham Price EPS $36.12 $28.33 $40.69 $48.85 $52.99 $49.91 $56.83 $58.96 $58.44 $78.31 $70.71 $65.42 $69.10 $79.35 $83.25 $82.43 69.82% <-Total Growth 10 Graham Price EPS
Price/GP Ratio Med 0.66 1.13 0.97 0.85 0.86 0.97 0.87 0.90 0.87 0.82 0.90 1.00 1.10 1.02 0.89 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 0.77 1.33 1.06 0.93 1.01 1.06 0.97 1.04 1.14 0.91 1.04 1.08 1.27 1.07 1.04 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 0.54 0.94 0.87 0.77 0.70 0.88 0.76 0.76 0.61 0.72 0.76 0.93 0.94 0.96 0.76 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 0.73 1.32 1.03 0.88 0.97 1.04 0.80 1.00 0.97 0.90 0.89 1.05 1.24 0.99 0.95 0.95 0.97 <-Median-> 10 Price/GP Ratio
Prem/Disc Close -26.99% 32.44% 3.01% -11.68% -2.72% 3.95% -20.30% 0.42% -3.15% -10.09% -11.12% 5.04% 23.51% -0.85% -5.50% -4.56% -2.94% <-Median-> 10 Graham Price
`
Comment
Price Close $26.37 $37.52 $41.92 $43.15 $51.55 $51.88 $45.29 $59.21 $56.60 $70.41 $62.85 $68.72 $85.35 $78.67 $78.67 $78.67 103.60% <-Total Growth 10 Stock Price
Increase 42.39% 42.28% 11.73% 2.93% 19.47% 0.64% -12.70% 30.74% -4.41% 24.40% -10.74% 9.34% 24.20% -7.83% 0.00% 0.00% 18.79 <-Median-> 10 CAPE (10 Yr P/E)
P/E 10.18 24.21 14.66 12.15 12.79 14.87 10.94 13.46 13.80 10.52 12.06 13.06 16.23 11.34 10.30 10.50 7.59% <-IRR #YR-> 5 Stock Price 44.15%
Trailing P/E -50.71 14.49 27.05 15.09 14.52 12.87 12.98 14.30 12.86 17.17 9.39 13.19 16.23 14.96 11.34 10.30 7.37% <-IRR #YR-> 10 Stock Price 103.60%
CAPE (10 Yr P/E) 11.65 17.03 18.97 19.15 22.43 22.94 17.84 20.52 18.75 18.83 15.70 15.71 18.50 15.89 14.81 13.77 10.66% <-IRR #YR-> 5 Price & Dividend 66.97%
Median 10, 5 Yrs D.  per yr 3.75% 3.07% % Tot Ret 33.71% 28.79% T P/E $13.75 $13.19 P/E:  $12.93 $13.06 11.12% <-IRR #YR-> 10 Price & Dividend 156.98%
Price 15 D.  per yr 3.89% % Tot Ret 35.23% CAPE Diff -39.66% 7.16% <-IRR #YR-> 15 Stock Price 182.15%
Price  20 D.  per yr 2.96% % Tot Ret 43.51% 3.84% <-IRR #YR-> 20 Stock Price 112.58%
Price  25 D.  per yr 4.51% % Tot Ret 36.27% 7.92% <-IRR #YR-> 25 Stock Price
Price & Dividend 15 11.05% <-IRR #YR-> 15 Price & Dividend 284.68%
Price & Dividend 20 6.80% <-IRR #YR-> 20 Price & Dividend 2.04159402
Price & Dividend 25 12.42% <-IRR #YR-> 25 Price & Dividend
Price H/L Median $23.73 $32.05 $39.27 $41.52 $45.37 $48.25 $49.37 $52.99 $51.00 $63.88 $63.89 $65.55 $76.27 $80.60 94.21% <-Total Growth 10 Stock Price
Increase -8.54% 35.04% 22.55% 5.72% 9.27% 6.36% 2.31% 7.33% -3.75% 25.26% 0.01% 2.59% 16.36% 5.68% 6.86% <-IRR #YR-> 10 Stock Price 94.21%
P/E 9.16 20.67 13.73 11.69 11.26 13.83 11.92 12.04 12.44 9.55 12.26 12.46 14.50 11.61 7.56% <-IRR #YR-> 5 Stock Price 43.94%
Trailing P/E -45.63 12.37 25.34 14.52 12.78 11.97 14.14 12.80 11.59 15.58 9.55 12.58 14.50 15.32 10.94% <-IRR #YR-> 10 Price & Dividend 154.85%
P/E on Running 5 yr Average 16.62 21.89 21.25 20.70 15.56 15.58 13.66 13.51 12.65 14.00 13.02 12.77 14.38 13.73 11.91% <-IRR #YR-> 5 Price & Dividend 73.40%
P/E on Running 10 yr Average 10.49 14.55 17.77 18.43 19.74 21.33 19.44 18.37 16.89 17.08 15.96 14.99 16.53 16.28 13.13 P/E Ratio Historical Median
Median 10, 5 Yrs D.  per yr 4.08% 4.36% % Tot Ret 37.29% 36.56% T P/E 12.79 12.58 P/E:  12.15 12.44 Count 24 Years of data
High Month Feb Nov Dec Oct Nov Jan May Nov Feb Nov Feb Dec Dec Jan
Price High $27.96 $37.57 $43.15 $45.62 $53.49 $52.67 $55.38 $61.43 $66.44 $71.40 $73.81 $70.53 $87.78 $85.16 103.43% <-Total Growth 10 Stock Price
Increase -18.77% 34.37% 14.85% 5.72% 17.25% -1.53% 5.15% 10.92% 8.16% 7.46% 3.38% -4.44% 24.46% -2.98% 7.36% <-IRR #YR-> 10 Stock Price 103.43%
P/E 10.80 24.24 15.09 12.85 13.27 15.09 13.38 13.96 16.20 10.67 14.17 13.41 16.69 12.27 7.40% <-IRR #YR-> 5 Stock Price 42.89%
Trailing P/E -53.77 14.51 27.84 15.95 15.07 13.07 15.87 14.84 15.10 17.41 11.03 13.54 16.69 16.19 14.33 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 15.08 15.10 P/E:  13.69 14.17 19.17 P/E Ratio Historical High
-$43.15 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $87.78
-$61.43 $0.00 $0.00 $0.00 $0.00 $87.78
Low Month Nov Apr Feb Jan Feb Jun Dec Jan Mar Jan Oct Mar Aug Mar
Price Low $19.50 $26.52 $35.39 $37.41 $37.24 $43.83 $43.35 $44.54 $35.56 $56.36 $53.97 $60.56 $64.75 $76.03 82.96% <-Total Growth 10 Stock Price
Increase 11.62% 36.00% 33.45% 5.71% -0.45% 17.70% -1.10% 2.75% -20.16% 58.50% -4.25% 12.21% 6.92% 17.42% 6.23% <-IRR #YR-> 10 Stock Price 82.96%
P/E 7.53 17.11 12.37 10.54 9.24 12.56 10.47 10.12 8.67 8.43 10.36 11.51 12.31 10.96 7.77% <-IRR #YR-> 5 Stock Price 45.37%
Trailing P/E -37.50 10.24 22.83 13.08 10.49 10.88 12.42 10.76 8.08 13.75 8.07 11.62 12.31 14.45 11.51 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 11.25 11.62 P/E:  10.41 10.36 8.81 P/E Ratio Historical Low
-$35.39 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $64.75
-$44.54 $0.00 $0.00 $0.00 $0.00 $64.75
Free Cash Flow Mkt Sc -$4,550 -$8,717 $2,809 $15,670 $2,324 -$7,548 Free Cash Flow Mkt Sc
Change -91.58% 132.22% 457.85% -85.17% -424.78% Change
Free Cash Flow MS old $4,355 $3,537 $1,802 $3,749 $2,433 $7,095 -$1,938 $4,311 $5,440 Free Cash Flow MS old
Change -18.78% -49.05% 108.05% -35.10% 191.62% -127.32% 322.45% 26.19% Change
Free Cash Flow MS $572 $560 $1,804 $3,540 -$2,210 -$4,640 $3,100 -$9,220 -$8,240 -$4,630 $16,210 -$2,080 -$390 -121.62% <-Total Growth 10 Free Cash Flow WSJ & MS
Change -162.43% -109.95% 166.81% -397.42% 10.63% 43.81% 450.11% -112.83% 81.25% -46.88% <-IRR #YR-> 5 Free Cash Flow MS 95.77%
FCF/CF from Op Ratio 0.79 -0.60 -2.34 0.81 -3.62 -1.14 2.49 3.76 -0.37 -0.15 #NUM! <-IRR #YR-> 10 Free Cash Flow MS -121.62%
Dividends paid $699 $799 $886 $921 $1,074 $1,155 $1,227 $1,318 $1,360 $1,360 $1,671 $1,882 $1,962 121.44% <-Total Growth 10 Dividends paid
Percentage paid 26.02% -48.60% -24.89% 39.58% -14.30% -16.50% -29.37% 10.31% -90.48% -503.08% -$0.21 <-Median-> 10 Percentage paid
5 Year Coverage -60.39% -28.92% -27.17% -249.50% -95.36% 946.55% 5 Year Coverage
Dividend Coverage Ratio 3.84 -2.06 -4.02 2.53 -7.00 -6.06 -3.40 9.70 -1.11 -0.20 -1.58 <-Median-> 10 Dividend Coverage Ratio
5 Year of Coverage -1.66 -3.46 -3.68 -0.40 -1.05 0.11 5 Year of Coverage
$9,220 $0 $0 $0 $0 -$390
-$1,804 $0 $0 $0 $0 $0 $0 $0 $0 $0 -$390
Free Cash Flow WSJ $7,183 $12,310 $7,278 $7,686 $10,189 $10,899 51.73% <-Total Growth 5 Free Cash Flow WSJ & MS
Change 71.38% -40.88% 5.61% 32.57% 6.97% 8.70% <-IRR #YR-> 5 Free Cash Flow MS 51.73%
FCF/CF from Op Ratio 2.82 1.70 -3.92 1.78 1.82 4.30 8.70% <-IRR #YR-> 5 Free Cash Flow MS #DIV/0!
Dividends paid $1,318 $1,360 $1,360 $1,671 $1,882 $1,962 48.86% <-Total Growth 5 Dividends paid
Percentage paid 18.35% 11.05% 18.69% 21.74% 18.47% 18.00% $0.18 <-Median-> 6 Percentage paid
5 Year Coverage 17.00% 17.03% 5 Year Coverage
Dividend Coverage Ratio 5.45 9.05 5.35 4.60 5.41 5.56 5.43 <-Median-> 6 Dividend Coverage Ratio
5 Year of Coverage 5.45 7.28 6.63 6.04 5.88 5.87 5 Year of Coverage
-$7,183 $0 $0 $0 $0 $10,899
-$7,183 $0 $0 $0 $0 $10,899
Market Cap. $15,811 $22,865 $25,701 $26,421 $31,631 $31,673 $27,106 $34,804 $33,117 $41,260 $36,855 $40,174 $48,982 $45,149 $45,149 $45,149 90.58% <-Total Growth 10 Market Cap
Diluted # of Shares in Million 604 614 619 618 619 618 611 597 589 590 589 589 582 582 -5.98% <-Total Growth 10 Diluted
Change 4.14% 1.66% 0.81% -0.16% 0.16% -0.16% -1.13% -2.29% -1.34% 0.17% -0.17% 0.00% -1.19% 0.00% -0.17% <-Median-> 10 Change
Difference Diluted/Basic -1.8% -1.6% -1.3% -1.0% -1.0% -0.8% -0.8% -0.8% -0.7% -0.7% -0.5% -0.5% -0.5% -0.5% -0.74% <-Median-> 10 Difference Diluted/Basic
Basic # of Shares in Millions 593 604 611 612 613 613 606 592 585 586 586 586 579 579 -5.24% <-Total Growth 10 Basic
Change 2.42% 1.85% 1.16% 0.16% 0.16% 0.00% -1.14% -2.31% -1.18% 0.17% 0.00% 0.00% -1.19% 0.00% 0.00% <-Median-> 10 Change
Difference Basic/Outstanding 1.1% 0.9% 0.3% 0.0% 0.1% -0.4% -1.2% -0.7% 0.0% 0.0% 0.1% -0.2% -0.9% -0.9% -0.12% <-Median-> 10 Difference Basic/Outstanding
# of Share in Millions 599.6 609.4 613.1 612.3 613.6 610.5 598.5 587.8 585.1 586.0 586.4 584.6 573.9 573.9 573.9 573.9 -0.66% <-IRR #YR-> 10 Shares -6.39%
Change 1.97% 1.63% 0.61% -0.13% 0.21% -0.51% -1.97% -1.79% -0.46% 0.15% 0.07% -0.31% -1.83% 0.00% 0.00% 0.00% -0.48% <-IRR #YR-> 5 Shares -2.36%
CF fr Operations $Millon $748 $627 $1,804 $4,461 $3,668 $1,984 $3,834 $2,547 $7,253 -$1,857 $4,311 $5,612 $2,532 $4,970 40.35% <-Total Growth 10 Cash Flow
Increase -72.44% -16.18% 187.72% 147.28% -17.78% -45.91% 93.25% -33.57% 184.77% -125.60% 332.15% 30.18% -54.88% 96.29% SO, DRIP Share Iss Buy Backs
5 year Running Average $2,322 $2,100 $1,751 $2,071 $2,262 $2,509 $3,150 $3,299 $3,857 $2,752 $3,218 $3,573 $3,570 $3,114 103.85% <-Total Growth 10 CF 5 Yr Running
CFPS $1.25 $1.03 $2.94 $7.29 $5.98 $3.25 $6.41 $4.33 $12.40 -$3.17 $7.35 $9.60 $4.41 $8.66 49.94% <-Total Growth 10 Cash Flow per Share
Increase -72.97% -17.52% 185.98% 147.61% -17.95% -45.64% 97.12% -32.36% 186.08% -125.56% 331.99% 30.58% -54.04% 96.29% 3.45% <-IRR #YR-> 10 Cash Flow 40.35%
5 year Running Average $4.05 $3.63 $2.96 $3.42 $3.70 $4.10 $5.17 $5.45 $6.47 $4.64 $5.46 $6.10 $6.12 $5.37 -0.12% <-IRR #YR-> 5 Cash Flow -0.59%
P/CF on Med Price 19.02 31.15 13.35 5.70 7.59 14.85 7.71 12.23 4.11 -20.16 8.69 6.83 17.29 9.31 7.38% <-IRR #YR-> 10 Cash FLow 5 Yr Running
P/CF on Closing Price 21.14 36.47 14.25 5.92 8.62 15.96 7.07 13.66 4.57 -22.22 8.55 7.16 19.35 9.08 1.59% <-IRR #YR-> 5 Cash FLow 5 Yr Running
18.79% Diff M/C 4.13% <-IRR #YR-> 10 Cash Flow per Share 49.94%
0.36% <-IRR #YR-> 5 Cash Flow per Share 1.82%
7.51% <-IRR #YR-> 10 CFPS 5 Yr Running 106.36%
Excl.Working Capital CF $2,984.0 $4,708.0 $3,867.0 $681.0 $2,901.0 $4,443.0 $3,176.0 -$6,350.0 -$11,068.0 $8,779.0 $17,630.0 -$5,931.0 $2,334.0 $0.0 2.34% <-IRR #YR-> 5 CFPS 5 Yr Running 12.25%
CF fr Op $M WC $3,732 $5,335 $5,671 $5,142 $6,569 $6,427 $7,010 -$3,803 -$3,815 $6,922 $21,941 -$319 $4,866 $4,970 -14.20% <-Total Growth 10 Cash Flow less WC
Increase 80.55% 42.95% 6.30% -9.33% 27.75% -2.16% 9.07% -154.25% -0.32% 281.44% 216.97% -101.45% 1625.39% 2.14% -1.52% <-IRR #YR-> 10 Cash Flow less WC -14.20%
5 year Running Average $2,889 $3,413 $3,804 $4,389 $5,290 $5,829 $6,164 $4,269 $2,478 $2,548 $5,651 $4,185 $5,919 $7,676 #NUM! <-IRR #YR-> 5 Cash Flow less WC 227.95%
CFPS Excl. WC $6.22 $8.75 $9.25 $8.40 $10.71 $10.53 $11.71 -$6.47 -$6.52 $11.81 $37.42 -$0.55 $8.48 $8.66 4.52% <-IRR #YR-> 10 CF less WC 5 Yr Run 55.58%
Increase 77.06% 40.65% 5.66% -9.21% 27.48% -1.66% 11.26% -155.24% -0.78% 281.16% 216.76% -101.46% 1653.83% 2.14% 6.75% <-IRR #YR-> 5 CF less WC 5 Yr Run 38.65%
5 year Running Average $5.01 $5.79 $6.32 $7.23 $8.67 $9.53 $10.12 $6.97 $3.99 $4.21 $9.59 $7.14 $10.13 $13.16 -0.87% <-IRR #YR-> 10 CFPS - Less WC -8.33%
P/CF Med Price CFPS 3.81 3.66 4.25 4.94 4.24 4.58 4.21 -8.19 -7.82 5.41 1.71 -120.12 8.99 9.31 27.05% <-IRR #YR-> 5 CFPS - Less WC 231.05%
P/CF on Closing Price 4.24 4.29 4.53 5.14 4.82 4.93 3.87 -9.15 -8.68 5.96 1.68 -125.94 10.07 9.08 4.83% <-IRR #YR-> 10 CFPS 5 yr Running 60.23%
*Operational Cash Flow per share CF/-WC P/CF Med 10 yr 7.65 5 yr  6.83 P/CF Med 10 yr 4.23 5 yr  1.71 114.96% 7.75% <-IRR #YR-> 5 CFPS 5 yr Running 45.21%
Excl.Working Capital does not seem helpful for this company  Chges in WC from google finance as I cannot figure out WC values.
-613 0 0 0 0 0 0 0 0 0 574 Shares
-588 0 0 0 0 574 Shares
-$1,804 $0 $0 $0 $0 $0 $0 $0 $0 $0 $2,532 Cash Flow
-$2,547 $0 $0 $0 $0 $2,532 Cash Flow
-$1,751 $0 $0 $0 $0 $0 $0 $0 $0 $0 $3,570 Cash FLow 5 Yr Running
-$3,299 $0 $0 $0 $0 $3,570 Cash FLow 5 Yr Running
-$6.32 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $10.13 CFPS 5 yr Running
-$6.97 $0.00 $0.00 $0.00 $0.00 $10.13 CFPS 5 yr Running
Other changes in other assets and liabilities
Gain on sale of equity investment (Note 3)
Realized (gains) losses on held-for-trading and available-for-sale assets
New mutual fund business acquisition costs capitalized
Redemption fees of mutual funds
made a stab at 2008 to 2010 
but I do not know where I got orginal figures from
Increase, decreast Invest Contracts $281 $11,432 $14,921 $2,415 -$11,214 $331 $393
Increase, decrease reins assets $97 -$28 $204 $86 -$951 $10 -$136
Change in insurance contracts $6,769 $2,133
Sales, maturities and repayments $86,197 $68,257 $64,305 $46,306 $47,115 $55,973 $62,387 $59,162 $76,289 $55,189 $53,535 $43,457 $52,512 Sales, maturities and repayments
Purchases of invested assets -$89,310 -$71,588 -$68,454 -$46,661 -$49,786 -$60,633 -$65,353 -$64,165 -$81,709 -$64,592 -$57,153 -$48,579 -$61,251 Purchases of invested assets
Change in policy loans $7 -$35 -$13 -$62 -$44 Change in policy loans
Income taxes received (paid) -$36 -$345 -$230 -$453 -$310 -$436 -$307 -$698 -$690 -$1,028 -$795 -$1,240 -$1,138 Income taxes received (paid)
Mortgage securitization  $248 $364 $474 $214 $96 $264 $197 $95 $151 -$39 -$265 Mortgage securitization 
Other cash items $158 -$997 $277 -$175 -$350 $439 -$377 $383 $1,856 -$944 -$1,203 $5,222 $5,418 Other cash items
Sum -$2,984 -$4,708 -$3,867 -$681 -$2,901 -$4,443 -$3,176 $6,350 $11,068 -$8,779 -$17,630 $5,931 -$2,334 Sum
TMX money -->TD Bank (2017) -$4,708 -$3,867 -$681 -$2,901 -$4,443 -$3,176 $6,350 $11,068 -$8,779 -$17,630 $5,931 -$2,334 Google
Difference $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Difference
2021 2021
Morningstar -$2,305 $9,257 $575 $5,577 $6,189 -$3,176 $6,277
Wall street Journal -$3,346 $9,728 $704 $5,624 $6,189 $73
gurufocus $4,847
TD Bank -$3,867 -$681 -$2,901 -$4,443
Difference $0 $0 $0 $0
OPM 3.66% 2.70% 7.47% 18.33% 12.80% 6.59% 12.35% 7.77% 16.74% -5.21% 18.48% 13.76% 6.55% 10.34% -64.25% <-Total Growth 10 OPM
Increase -69.69% -26.40% 177.06% 145.51% -30.21% -48.54% 87.61% -37.13% 115.48% -131.11% -455.04% -25.54% -52.38% 57.72% should be zero, it is a check on calculations
Diff from Median -70.9% -78.6% -40.6% 45.8% 1.8% -47.6% -1.8% -38.2% 33.1% -141.4% 47.0% 9.5% -47.9% -17.8% 0.00 <-Median-> 10 OPM
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 12.57% 5 Yrs 13.76% Should increase or be stable.
Invested Assets/Covering Assets $142,350 $146,139 $151,726 $161,619 $177,912 $184,522 $177,292 $174,328 $189,817 $189,817 33.35% <-Total Growth 8 Covering Assets
Change 2.66% 3.82% 6.52% 10.08% 3.72% -3.92% -1.67% 8.88% 0.00% 3.77% <-Median-> 8 Change
Debt/Covering Assets Ratio 0.81 0.81 0.80 0.83 0.84 0.82 0.81 0.85 0.85 0.85 0.82 <-Median-> 9 Debt/Assets Ratio
Debt/Assets Ratio 0.45 0.44 0.45 0.45 0.46 0.44 0.43 0.45 0.43 0.43 0.45 <-Median-> 9 Deposits/Assets Retio
Debt/Total Debt Ratio 0.49 0.48 0.49 0.49 0.50 0.48 0.48 0.48 0.47 0.47 0.48 <-Median-> 9 Deposits/Total Debt Ratio Type
Long Term Debt $110,227 $115,057 $117,785 $121,823 $134,300 $148,962 $151,179 $143,732 $148,964 $160,772 $160,772 45.86% <-Total Growth 9 Long Term Debt Lg Term R+A
Change 4.38% 2.37% 3.43% 10.24% 10.92% 1.49% -4.93% 3.64% 7.93% 0.00% 3.64% <-Median-> 9 Change Lg Term R
Debt/Market Cap Ratio 4.17 3.64 3.72 4.49 3.86 4.50 3.66 3.90 3.71 3.28 3.56 3.79 <-Median-> 10 Debt/Market Cap Ratio Intang/GW
Assets/Current Liabilities Ratio 31.16 32.79 37.16 37.25 45.42 36.81 38.29 33.14 33.42 34.20 34.20 35.50 <-Median-> 10 Assets/Current Liabilities Ratio Liquidity
Debt to Cash Flow (Years) 24.71 31.37 59.37 31.77 52.73 20.54 -81.41 33.34 26.54 63.50 32.35 31.57 <-Median-> 10 Debt to Cash Flow (Years) Liq. + CF
Debt Ratio
Intangibles $862 $866 $895 $1,479 $1,703 $1,667 $1,779 $2,083 $2,477 $3,370 $4,724 $5,174 $5,058 $5,058 465.14% <-Total Growth 10 Intangibles Leverage Co
Goodwill $3,911 $4,002 $4,117 $4,646 $5,317 $5,183 $5,412 $5,832 $6,072 $6,517 $8,705 $8,969 $9,456 $9,456 129.68% <-Total Growth 10 Goodwill Leverage
Total $4,773 $4,868 $5,012 $6,125 $7,020 $6,850 $7,191 $7,915 $8,549 $9,887 $13,429 $14,143 $14,514 $14,514 189.58% <-Total Growth 10 Total D/E Ratio
Change 1.99% 2.96% 22.21% 14.61% -2.42% 4.98% 10.07% 8.01% 15.65% 35.82% 5.32% 2.62% 0.00% 9.04% <-Median-> 10 Change
Goodwill/Market Cap Ratio 0.30 0.21 0.20 0.23 0.22 0.22 0.27 0.23 0.26 0.24 0.36 0.35 0.30 0.32 0.25 <-Median-> 10 Intangible/Market Cap Ratio
Current Assets (mostly other) $9,647 $10,836 $10,032 $12,539 $13,016 $12,593 $13,278 $14,300 $16,988 $16,140 $17,396 $18,032 $19,336 $19,336 92.74% <-Total Growth 10 Current Assets
Current Liabilities (other) $5,369 $5,501 $6,410 $7,922 $7,875 $7,242 $7,298 $6,544 $8,776 $9,020 $9,986 $9,970 $10,839 $10,839 69.10% <-Total Growth 10 Current Liabilities
Liquidity 1.80 1.97 1.57 1.58 1.65 1.74 1.82 2.19 1.94 1.79 1.74 1.81 1.78 1.78 1.79 <-Median-> 10 Ratio
Liq. with CF aft div 1.78 1.92 1.71 2.03 1.99 1.87 2.19 2.39 2.62 1.56 2.01 2.20 1.85 2.06 2.01 <-Median-> 5 Ratio
Liq. CF re  Inv+Div  1.72 1.84 1.71 1.86 1.61 1.78 2.11 2.24 2.38 1.44 1.56 2.08 1.79 2.06 1.79 <-Median-> 5 Ratio
Assets $225,782 $199,531 $223,357 $246,853 $258,238 $269,112 $271,827 $297,202 $323,011 $345,370 $330,906 $333,241 $370,721 $370,721 65.98% <-Total Growth 10 Assets
Liability $209,031 $182,177 $204,485 $225,435 $235,870 $246,141 $247,257 $272,694 $297,149 $317,297 $301,529 $309,041 $344,592 $344,592 68.52% <-Total Growth 10 Liabilities
Debt Ratio 1.08 1.10 1.09 1.10 1.09 1.09 1.10 1.09 1.09 1.09 1.10 1.08 1.08 1.08 1.09 <-Median-> 10 Ratio
Check $16,751 $17,354 $18,872 $21,418 $22,368 $22,971 $24,570 $24,508 $25,862 $28,073 $29,377 $24,200 $26,129 $26,129
Estimates BVPS $43.68 $47.14 $52.51 Estimates Estimates BVPS
Estimate Book Value $25,068.0 $27,053.6 $30,135.5 Estimates Estimate Book Value
P/B Ratio (Close) 1.80 1.67 1.50 Estimates P/B Ratio (Close)
Difference from 10 year median 41.20% Diff M/C Estimates Difference from 10 yr med.
Total Book Value $16,751 $17,354 $18,872 $21,418 $22,368 $22,971 $24,570 $24,508 $25,862 $28,073 $29,377 $24,200 $26,129 $26,129 38.45% <-Total Growth 10 Total Book Value
NCI $0 $0 $0 $0 $0 $0 $0 $19 $25 $59 $90 $161 $76 $76 #DIV/0! <-Total Growth 10 NCI
Total Equity $16,751 $17,354 $18,872 $21,418 $22,368 $22,971 $24,570 $24,489 $25,837 $28,014 $29,287 $24,039 $26,053 $26,053 38.05% <-Total Growth 10 Total Equity
Equity per Share $27.94 $28.48 $30.78 $34.98 $36.45 $37.63 $41.05 $41.66 $44.16 $47.81 $49.94 $41.12 $45.40 $45.40 47.48% <-Total Growth 10 Equity per Share
P/B Ratio (Median) 0.85 1.13 1.28 1.19 1.24 1.28 1.20 1.27 1.15 1.34 1.28 1.59 1.68 1.78 1.28 <-Median-> 10 P/B Ratio (Median)
P/BV 10 yr Med 1.28 5 yr Med 1.34 P/B Ratio (Median)
SLEECS $696 $700 $697 $697 $698 $700 $700 $500 $500 $200 $200 $200 $200 $200 -71.31% <-Total Growth 10 SLEECS Sun Life ExchangEable Capital Securities
Participating Policyholder's Equity $128 $127 $141 $168 $412 $650 $864 $1,091 $1,368 $1,700 $1,837 $457 $457 $457 224.11% <-Total Growth 10 Participating Policyholder's Equity
Preferred Shares $2,503 $2,503 $2,257 $2,257 $2,257 $2,257 $2,257 $2,257 $2,305 $2,239 $2,239 $2,239 $2,239 $2,257 -0.80% <-Total Growth 10 Preferred Shares
Book Value $13,424 $14,024 $15,777 $18,296 $19,001 $19,364 $20,749 $20,641 $21,664 $23,875 $25,011 $21,143 $23,157 $23,139 $23,139 $23,139 46.78% <-Total Growth 10 Book Value
Book Value per Share $22.39 $23.01 $25.73 $29.88 $30.97 $31.72 $34.67 $35.12 $37.03 $40.74 $42.65 $36.17 $40.35 $40.32 $40.32 $40.32 56.80% <-Total Growth 10 Book Value per Share
Change 6.09% 2.79% 11.82% 16.12% 3.63% 2.43% 9.30% 1.29% 5.44% 10.04% 4.69% -15.20% 11.57% -0.08% 0.00% 0.00% 30.26% P/B Ratio Current/Historical Median
P/B Ratio (Median) 1.06 1.39 1.53 1.39 1.46 1.52 1.42 1.51 1.38 1.57 1.50 1.81 1.89 2.00 0.00 0.00 1.50 P/B Ratio Historical Median
P/B Ratio (Close) 1.18 1.63 1.63 1.44 1.66 1.64 1.31 1.69 1.53 1.73 1.47 1.90 2.12 1.95 1.95 1.95 4.60% <-IRR #YR-> 10 Book Value per Share 56.80%
Change 34.22% 38.42% -0.08% -11.35% 15.28% -1.75% -20.13% 29.07% -9.34% 13.05% -14.73% 28.95% 11.32% -7.75% 0.00% 0.00% 2.82% <-IRR #YR-> 5 Book Value per Share 14.91%
Financial Leverage 21.5% 20.1% 20.1% Financial Leverage
Leverage (D/BK) 12.48 10.50 10.84 10.53 10.54 10.72 10.06 11.13 11.49 11.30 10.26 12.77 13.19 10.92 <-Median-> 10 Leverage (D/BK)
Leverage (A/BK) 13.48 11.50 11.84 11.53 11.54 11.72 11.06 12.13 12.49 12.30 11.26 13.77 14.19 14.19 11.92 <-Median-> 10 Leverage (A/BK)
Debt/Equity Ratio 12.48 10.50 10.84 10.53 10.54 10.72 10.06 11.13 11.49 11.30 10.26 12.77 13.19 13.19 10.92 <-Median-> 10 Debt/Eq Ratio
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Med 1.50 5 yr Med 1.57 29.78% Diff M/C
Comprehensive Income $1,790 $1,505 $2,625 $3,607 $2,018 $1,919 $3,504 $2,715 $2,914 $3,764 $2,992 $3,490 $4,968 89.26% <-Total Growth 10 Comprehensive Income
Preferred $5 -$1 $14 $27 $243 $238 $303 $227 $277 $332 $137 $187 $138 885.71% <-Total Growth 10 Preferred
NCI $0 $0 $0 $0 $0 $0 $0 $4 $11 $0 $60 $123 $39 NCI
Shareholders $1,785 $1,506 $2,611 $3,580 $1,775 $1,681 $3,201 $2,484 $2,626 $3,432 $2,795 $3,180 $4,791 83.49% <-Total Growth 10 Comprehensive Income
Increase 2388.46% -15.63% 73.37% 37.11% -50.42% -5.30% 90.42% -22.40% 5.72% 30.69% -18.56% 13.77% 50.66% 13.77% <-Median-> 5 Comprehensive Income
5 Yr Running Average $948 $1,007 $1,434 $1,881 $2,251 $2,231 $2,570 $2,544 $2,353 $2,685 $2,908 $2,903 $3,365 6.26% <-IRR #YR-> 10 Comprehensive Income 83.49%
ROE 13.3% 10.7% 16.5% 19.6% 9.3% 8.7% 15.4% 12.0% 12.1% 14.4% 11.2% 15.0% 20.7% 14.04% <-IRR #YR-> 5 Comprehensive Income 92.87%
5Yr Median 7.6% 8.2% 10.7% 13.3% 13.3% 10.7% 15.4% 12.0% 12.0% 12.1% 12.1% 12.1% 14.4% 8.90% <-IRR #YR-> 10 5 Yr Running Average 134.58%
% Difference from NI 29.9% -11.2% 48.2% 63.8% -28.6% -21.8% 26.9% -5.1% 9.2% -12.8% -8.7% 3.0% 57.1% 5.75% <-IRR #YR-> 5 5 Yr Running Average 32.25%
Median Values Diff 5, 10 yr -1.0% 3.0% 14.4% <-Median-> 5 Return on Equity
Current Liability Coverage Ratio 0.70 0.97 0.88 0.65 0.83 0.89 0.96 -0.58 -0.43 0.77 2.20 -0.03 0.45 0.46   CFO / Current Liabilities
5 year Median 0.79 0.85 0.85 0.70 0.83 0.88 0.88 0.83 0.83 0.77 0.77 -0.03 0.45 0.46 70.8% <-Median-> 10 Current Liability Cov Ratio
Asset Efficiency Ratio 1.65% 2.67% 2.54% 2.08% 2.54% 2.39% 2.58% -1.28% -1.18% 2.00% 6.63% -0.10% 1.31% 1.34% CFO / Total Assets
5 year Median 1.46% 1.65% 1.65% 2.08% 2.54% 2.54% 2.54% 2.39% 2.39% 2.00% 2.00% -0.10% 1.31% 1.34% 2.0% <-Median-> 10 Return on Assets 
Return on Assets ROA 0.61% 0.85% 0.79% 0.89% 0.96% 0.80% 0.93% 0.88% 0.74% 1.14% 0.92% 0.93% 0.82% 1.10% Net  Income/Assets Return on Assets
5Yr Median 0.42% 0.61% 0.75% 0.79% 0.85% 0.85% 0.89% 0.89% 0.88% 0.88% 0.92% 0.92% 0.92% 0.93% 0.9% <-Median-> 10 Asset Efficiency Ratio
Return on Equity ROE 10.24% 12.09% 11.17% 11.94% 13.08% 11.10% 12.15% 12.68% 11.10% 16.48% 12.23% 14.60% 13.17% 17.60% Net Inc/ Shareholders' equity Return on Equity
5Yr Median 4.93% 9.69% 10.24% 11.17% 11.94% 11.94% 11.94% 12.15% 12.15% 12.15% 12.23% 12.68% 13.17% 14.60% 12.5% <-Median-> 10 Return on Equity
$3,182 <-12 mths 4.36%
Net Income $1,501 $1,809 $1,882 $2,300 $2,826 $2,487 $2,914 $2,947 $2,792 $4,370 $3,302 $3,469 $3,299
Preferred $127 $113 $120 $100 $96 $93 $94 $95 $94 $101 $70 $79 $80
NCI and Participating Policyholders $0 $0 $0 $15 $245 $245 $298 $234 $294 $335 $172 $304 $170
Shareholders $1,374 $1,696 $1,762 $2,185 $2,485 $2,149 $2,522 $2,618 $2,404 $3,934 $3,060 $3,086 $3,049 $4,073 $4,191 73.04% <-Total Growth 10 Net Income
Increase -558.00% 23.44% 3.89% 24.01% 13.73% -13.52% 17.36% 3.81% -8.17% 63.64% -22.22% 0.85% -1.20% 33.58% 2.90% EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average $795 $977 $1,223 $1,343 $1,900 $2,055 $2,221 $2,392 $2,436 $2,725 $2,908 $3,020 $3,107 $3,440 $3,492 5.64% <-IRR #YR-> 10 Net Income 73.04%
Operating Cash Flow $748 $627 $1,804 $4,461 $3,668 $1,984 $3,834 $2,547 $7,253 -$1,857 $4,311 $5,612 $2,532 3.09% <-IRR #YR-> 5 Net Income 16.46%
Investment Cash Flow -$176 -$239 -$13 -$723 -$1,893 -$339 -$280 -$430 -$886 -$803 -$2,863 -$559 -$337 9.77% <-IRR #YR-> 10 5 Yr Running Ave. 154.01%
Total Accruals $802 $1,308 -$29 -$1,553 $710 $504 -$1,032 $501 -$3,963 $6,594 $1,612 -$1,967 $854 5.37% <-IRR #YR-> 5 5 Yr Running Ave. 29.89%
Total Assets $225,782 $199,531 $223,357 $246,853 $258,238 $269,112 $271,827 $297,202 $323,011 $345,370 $330,906 $333,241 $370,721 Balance Sheet Assets
Accruals Ratio 0.36% 0.66% -0.01% -0.63% 0.27% 0.19% -0.38% 0.17% -1.23% 1.91% 0.49% -0.59% 0.23% 0.23% <-Median-> 5 Ratio
EPS/CF Ratio 0.42 0.18 0.31 0.42 0.38 0.33 0.35 -0.68 -0.63 0.57 0.14 -9.64 0.62 0.34 <-Median-> 10 EPS/CF Ratio
Change in Close 42.39% 42.28% 11.73% 2.93% 19.47% 0.64% -12.70% 30.74% -4.41% 24.40% -10.74% 9.34% 24.20% -7.83% 0.00% 0.00% Count 27 Years of data
up/down Count 0 0.00%
Meet Prediction? % right Count 0 #DIV/0!
Financial Cash Flow -$1,060 -$1,046 -$1,940 -$1,106 -$1,543 -$2,019 -$2,566 -$2,436 -$2,312 -$260 -$71 -$3,086 -$3,882 C F Statement  Financial Cash Flow
Total Accruals $1,862 $2,354 $1,911 -$447 $2,253 $2,523 $1,534 $2,937 -$1,651 $6,854 $1,683 $1,119 $4,736 Accruals
Accruals Ratio 0.82% 1.18% 0.86% -0.18% 0.87% 0.94% 0.56% 0.99% -0.51% 1.98% 0.51% 0.34% 1.28% 0.51% <-Median-> 5 Ratio
Cash $7,605 $7,590 $6,814 $8,817 $8,453 $8,453 $9,402 $9,545 $13,521 $12,145 $11,213 $13,173 $13,698 $13,698 Cash
Cash per Share $12.68 $12.45 $11.11 $14.40 $13.78 $13.85 $15.71 $16.24 $23.11 $20.73 $19.12 $22.53 $23.87 $23.87 $22.53 <-Median-> 5 Cash per Share
Percentage of Stock Price 48.10% 33.20% 26.51% 33.37% 26.72% 26.69% 34.69% 27.43% 40.83% 29.44% 30.42% 32.79% 27.97% 30.34% 30.42% <-Median-> 5 % of Stock Price
Notes:
March 30, 2025.  Last estimates were for 2024, 2025, 2026 of $45372M, $47249M, $49327M Revenue, $6.80, $7.33, 7.99 AEPS, $6.49, $7.06, $6.90 EPS, 
$3.23, $3.39, $3.41 Dividends, $8.66 2025 CFPS, $39.70, $43.10, $48.20 BVPS, $3795M, $4073M, $4191M Net Income.
April 1, 2024.  Last estimates were for 2023, 2024 and 2025 of $43005M, $44999M and $48149M for Revenue, $6.46, $7.03 and $7.72 for AEPS, $6.32 and $6.80 and $7.07 for EPS, 
$2.99 $3.14 and $3.14 for Dividends, $8.03 and $8.66 2023/4 for CFPS, $43.30, $45.80 and $56.20 for BVPS, $3747M, $3989M and $4000M for Net Income.
April 6, 2023.  Last estimates were for 2022, 2023 and 2024 of $402,674B, $438,243B 2022/3for AUM, $38747M, $40555M and $41333M for Revenue, 
$6.50, $7.22 and $7.75 for AEPS, $5.99, $6.75 and $7.75 for EPS, $2.75, $3.60 and $2.98 for Dividends, $8.27 2022 for CFPS, $3482M, $3893M and $4309M for Net Income.
April 3, 2022.  Last estimates were for 2021, 2022 and 2023 of $37814M, $39594M and $41778M for Revenue, $5.73, $6.25 and $6.84 for EPS, 
$2.26, $2.35 and $2.77 for Dividends, $7.71 and $8.27 for 2021-22 for CFPS, and $3334M, $3642M and $3874M for Net Income.
April 4, 2021.  Last estimates were for 2020, 2021 and 2022 of Adjusted Revenue $36710M for 2020, $34482M, $36303M and $41001M for Revenue, 
$4.95, $5.72 and $6.32 for EPS, $2.29, $2.48 and $2.61 for Dividends and $2851M, $3314M and $3530M for Net Income.
March 28, 2020.  Last estimates were for 2019, 2020 and 2021 of $36710M for 2019 for Adj Revenue, $32788M, $34428M and 36210M for Revenue, $4.89, $5.32 and $5.65 for EPS.
 $2.12, $.31 and $2.29 for Dividends, $5.28 for CFPS for 2019 and $2890M, $3120M and $3392M for Net Income.
March 27, 2019.  Last estimates were for 2018, 2019 and 2020 with $34437M and $36710M for Adj Revenue for 2018 and 2019, $32185M, $33442M and $37065M for Revenue, 
$4.49, $4.83 and $5.23 for EPS, $1.90, $2.03 and $2.18 for Dividends, $4.29 and $5.28 for CFPS for 2018 and 2019 and $2767M, $2984M and $5251M for Net Income.
March 26, 2018.  Last estimates were for 2018, 2018 and 2019 of $32958M, $34437M and $36710M for Adjusted Revenue, $32958M, $34437M and $36710M for Revenue, 
$1.76, 1.88 and 1.96 for Dividends, $3.16 and 1.46 for CFPS for 2017 and 2018 and $2409M, $2740M and $2953M for Net Income.
March 25, 2017.  Last estimates were for 2016, 2017 and 2018 of $25035M, $26635M and $28736M for Adjusted Revenue, $25035M, $26635M and $28736M for Revenue,
 $3.66, $4.00 and $4.51 for EPS. $1.64. $1.78 and $1.96 for Dividends, $3.38 and $4.10 for CFPS for 2016 and 2017, $2193M, $2386M and $2768M for Net Income.
March 28, 2016.  Last estimates were for 2015, 2016 and 2017 of $23133M, $26590M and $26611M for Revenue, $3.20, $3.49 and $3.83 for EPS, $1.48, $1.59 and $1.79 for Dividends per Share, 
$7.22 and $9.49 for CFPS fo 2015 and 2016 (I thought this was high??) and $1913M, $2084M and $2465M for Net Income.
April 11, 2015.  Last estimates were for 2014, 2015 and 2015 of $20488M, $21307M and $22076M for Revenue, $2.76, $3.06 and $3.37 for EPS and  for 2014 and 2015 Net Income of $1718M and $1950M.
April 4, 2014.  Last estimates were for 2013 and 2014 of $22557M and $23145M for Revenue, $2.56, 2.74 and 2.76 (2015) for EPS.
March 31, 2014.  Last estimates were for 2013 and 2014 of $22557M and 23145M for Revenue, $2.56 and $2.74 (and $2.76 for 2015) for EPS.
April, 2013.  EPS for 2013 will be low ($.087) because of loss on Sale of US Annuity Business of around $950. 
I cannot determine changes in current assets and current liabilities from statements and so accept what M&G site says.  Wished I could find another site to agree. I can agree with other years.
March 31, 2013.  Last estimates were for 2012 and 2013 of $23706M and $24861M for Revenue $2.56 and $2.73 (and $2.78) for EPS.
2012 Report Sun Life releasted year end report on Feb 13, 2013 but statements on site are unaudited.
Mar 24, 2012.  Last estimates were for 2011 and 2012 of $25784M and $26256M for Revenue, 2.78 and $2.99 for EPS
May 2011.  when I last looked I got earnings for 2010 and 2012 of $2.75 and $3.15
Jun 24, 2010.  when I last got estimates they were for 2010 and 2011 for earnings of $2.84 and $3.20.
Apr 19, 2010.  When I last looked at this stock I got estimates for 2009 and 2010 for earnings of $2.23 and $3.30. Earning widely missed at $.94.
I have made 5% per year return on this stock.  My purchases were spread over from 2000 to 2006.  This recession has hit this stock very hard.
Jun 23, 2009.  when I looked at this stock in April 2009 the earnings estimates for 2009 was $3. and 2010 $3.55.  These earnings have been down graded.
Apr 2009 AP2008.  When I looked at this stock last year, estimate for earnings was $4.05 for 2008 and $4.58 for 2009.  They earned $1.37 for 2008 ($1.40 undiluted). Estimates for 2009 are lower.
They really only made $.07, the rest was profit from sale of  their stake in CI Financial.
AP 2007.  I have done well since I bought this and in last 5 years. Revenue is a concern as it is decreasing not increasing.  TD has buy on this and expects it to do well over next year.
AP 2006. Revenue and earnings not bad. Dividend increase is good.  Stock increase moderate. I have a decent return.  Bought some at start. TD has a buy rating on this stock with yearly return at 14% (Feb 2007)
AR 2005.  Seemed to have some trouble in 2002, but is doing OK now.  Since I bought it in 2000, IRR is 18%, not bad. TD has buy rating on it.
AP 2004.  Stock is doing well. 
AR 2003.  It will not again jump up in value as it did between 1999 and 2000.  2003
2003.  I think this is a solid dividend stock.  I would be satisfied if it make 10% compound a year in Price and Div.  2003
Trading Started Mar 23, 2000
Adjusted Revenue
Adjusted revenue is a non-IFRS financial measure that adjusts revenue for the impact of Constant Currency Adjustment, FV Adjustment and Reinsurance in SLF Canada's GB Operations
Sector:
Insurance, Financial Services
What should this stock accomplish?
Would I buy this company and Why.
This is a dividend growth Life Insurance company.  I still like it.
Why am I following this stock. 
I first bought this stock in 2000 when it was first demutualized.  It was very cheap.  I bought more in 2001, 2003 and 2006.
This stock was on  Mike Higgs' Canadian Dividend Growth stock list and on the other dividend lists that I followed.
Why I bought this stock.
After I sold my CIBC bond in 2000 I had money to buy some stocks so I made a hit list and looked for ones on this list selling at a reasonable price.  This stock was selling at a reasonable price at that time.
Dividends
Dividends are paid quarterly in Cycle 3, which is March, June, September and December.  Dividends are paid near the end of the month. Dividends are declared for shareholders of record of one month and paid in the following month.
For example, the dividend declared on February 12, 2014 is payable to shareholders of record of February 28, 2014 and is payable on March 31, 2014.
How they make their money
Sun Life provides life insurance, retirement, and asset management products to individuals and corporate customers in Canada, the United States, and Asia.
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.
When reviewing Sun Life refer to
http://divestor.com/2011/10/18/sun-life-and-financial-insurers/ 
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 2017 Mar 27 2018 Mar 27 2019 Mar 28 2020 Apr 4 2021 Apr 3 2022 Apr 6 2023 Apr 1 2024 Mar 30 2025
Strain, Kevin D. 0.008 0.00% 0.009 0.00% 0.011 0.00% 0.015 0.00% 0.019 0.00% 0.032 0.01% 0.038 0.01% 0.055 0.01% 47.02%
CEO - Shares - Amount $0.349 $0.506 $0.627 $1.024 $1.169 $2.224 $3.211 $4.351 Used to be CFO 2021
Options - percentage 0.272 0.05% 0.299 0.05% 0.319 0.05% 0.455 0.08% 0.691 0.12% 0.844 0.14% 0.954 0.17% 0.929 0.16% -2.66%
Options - amount $12.316 $17.693 $18.063 $32.004 $43.453 $57.997 $81.459 $73.085
Total Compension 2013
Deason, Timothy 0.025 0.00%
CFO - Shares - Amount $1.982
Options - percentage 0.096 0.02%
Options - amount $7.560
Singh, Manjit 0.001 0.00% 0.001 0.00% 0.001 0.00% 0.001 0.00% 6.70%
CFO - Shares - Amount $0.045 $0.068 $0.107 $0.105
Options - percentage 0.404 0.07% 0.511 0.09% 0.506 0.09% 0.556 0.10% 9.94%
Options - amount $25.363 $35.115 $43.194 $43.772
Freyne, Colm Joseph 0.00% 0.008 0.00% 0.009 0.00% 0.010 0.00% 0.010 0.00% 0.011 0.00% 0.012 0.00% Used to be CFO, now
Officer - Shares - Amount $0.710 $0.362 $0.519 $0.542 $0.735 $0.703 $0.831 Chief Risk Officer
Options - percentage 0.05% 0.288 0.05% 0.342 0.06% 0.326 0.06% 0.389 0.07% 0.411 0.07% 0.402 0.07% Still listed as CFO 2018
Options - amount $15.484 $13.027 $20.260 $18.471 $27.410 $25.844 $27.633 Ceased insider April 2023
Total Compension 2013
Dougherty, Linda 0.001 0.00% 0.001 0.00% 0.002 0.00% 13.86%
Officer - Shares - Amount $0.088 $0.128 $0.134
Options - percentage 0.132 0.02% 0.149 0.03% 0.134 0.02% -10.40%
Options - amount $9.095 $12.723 $10.508
Goulet, Jacques 0.001 0.00% 0.001 0.00% 4.15%
Officer - Shares - Amount $0.082 $0.079
Options - percentage 0.390 0.07% 0.429 0.07% 9.98%
Options - amount $33.287 $33.745
Gupta, Ashok K. 0.001 0.00% 0.001 0.00% 0.001 0.00% 0.001 0.00% 0.00%
Director - Shares - Amt $0.093 $0.102 $0.126 $0.117
Options - percentage 0.014 0.00% -0.020 0.00% 0.026 0.00% 0.030 0.01% 16.12%
Options - amount $0.875 -$1.362 $2.209 $2.364
Coyles, Stephanie 0.002 0.00% 0.004 0.00% 0.005 0.00% 0.011 0.00% 0.012 0.00% 0.013 0.00% 0.014 0.00% 0.015 0.00% 8.76%
Director - Shares - Amt $0.082 $0.213 $0.289 $0.775 $0.754 $0.900 $1.169 $1.172
Options - percentage 0.002 0.00% 0.005 0.00% 0.008 0.00% 0.010 0.00% 0.013 0.00% 0.016 0.00% 0.019 0.00% 0.022 0.00% 11.25%
Options - amount $0.112 $0.277 $0.429 $0.733 $0.803 $1.101 $1.663 $1.705
Powers, Scott F. 0.001 0.00% 0.001 0.00% 0.001 0.00% 0.001 0.00% CEO 2023 0.00%
Chairman - Shares - Amt $0.061 $0.067 $0.083 $0.077
Options - percentage 0.028 0.00% 0.036 0.01% 0.045 0.01% 0.050 0.01% 12.58%
Options - amount $1.753 $2.507 $3.819 $3.963
Anderson, William D. 0.00% 0.016 0.00% 0.016 0.00% 0.016 0.00% 0.016 0.00% 0.016 0.00% 0.016 0.00% Used to be a director 2018
Director - Shares - Amt $0.689 $0.707 $0.924 $0.883 $1.098 $0.980 $1.072 Last fining Apr 2022
Options - percentage 0.00% 0.018 0.00% 0.023 0.00% 0.028 0.00% 0.033 0.01% 0.038 0.01% 0.038 0.01% Chairman before 2022
Options - amount $0.739 $0.806 $1.338 $1.576 $2.329 $2.365 $2.585
Increase in O/S Shares 0.21% 0.400 0.07% 0.400 0.07% 0.800 0.14% 0.800 0.14% 0.900 0.15% 0.400 0.07% 1.000 0.17% 0.800 0.14%
due to SO 2013 $67.015 $20.752 $18.116 $47.368 $45.280 $63.369 $25.140 $68.720 $68.280
Book Value $47.000 $18.000 $16.000 $28.000 $23.000 $43.000 $6.000 $56.000 $47.000
Insider Buying -$0.015 -$0.223 -$0.235 -$0.392 -$0.357 -$1.585 -$0.673 -$0.402 -$0.966
Insider Selling $18.140 $10.493 $12.055 $32.146 $27.573 $22.121 $23.084 $23.877 $30.902
Net Insider Selling $18.126 $10.270 $11.821 $31.754 $27.215 $20.536 $22.410 $23.475 $29.936
% of Market Cap 0.06% 0.04% 0.03% 0.10% 0.07% 0.06% 0.06% 0.05% 0.07%
Directors 11 12 11 12 12 12 12 13
Women 31% 4 36% 4 33% 4 36% 4 33% 5 42% 5 42% 6 50% 6 46%
Minorities 0% 0 0% 1 8% 1 9% 1 8% 2 17% 2 17% 2 17% 3 23%
Institutions/Holdings 44.46% 316 42.16% 345 41.48% 20 38.30% 20 42.06% 20 44.58% 20 39.96% 20 37.54%
Total Shares Held 44.68% 257.348 43.00% 247.086 41.28% 226.347 38.69% 246.201 42.01% 261.244 44.55% 234.471 40.11% 214.268 37.34%
Increase/Decrease 0.80% 4.848 1.92% -4.281 -1.70% 16.145 7.68% -4.105 -1.64% -2.302 -0.87% -9.966 -4.08% -0.751 -0.35%
Starting No. of Shares Nasdaq 252.500 Nasdaq 251.367 Nasdaq 210.202 Top MS 250.306 Top  MS 263.546 Top  MS 244.437 Top  MS 215.019 Top  MS
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