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 2024 <-Estimates
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Toronto Dominion Bank TSX: TD NYSE: TD https://www.td.com/ Fiscal Yr: Oct 31
Year 10/31/12 10/31/13 10/31/14 10/31/15 10/31/16 10/31/17 10/31/18 10/31/19 10/31/20 10/31/21 10/31/22 10/31/23 10/31/24 10/31/25 10/31/26 10/31/27 Value Description #Y Item Total G
Accounting Rules IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS
Split Date 31-Jan-14
Split 2
$56,310 <-12 mths -0.84%
Adjusted Revenue $25,677 $27,191 $29,681 $31,437 $34,308 $35,946 $38,981 $41,065 $42,225 $42,693 $46,170 $51,839 $56,789 $52,608 $54,499 $54,287 91.33% <-Total Growth 10 Adjusted Revenue
change 5.90% 9.16% 5.92% 9.13% 4.77% 8.44% 5.35% 2.82% 1.11% 8.14% 12.28% 9.55% -7.36% 3.59% -0.39% 7.03% <-Median-> 10 change
$57,444 <-12 mths 0.39%
Int. Inc, other Inc $30,328 $33,800 $36,305 $37,021 $40,952 $45,134 $53,017 $59,133 $53,682 $48,143 $62,711 $29,944 $30,472 -16.07% <-Total Growth 10 Int. Inc, other Inc
Revenue* $23,122 $27,262 $29,961 $31,426 $34,315 $36,149 $38,834 $41,065 $43,646 $42,562 $49,032 $50,492 $57,223 $52,608 $54,499 $54,287 90.99% <-Total Growth 10 Revenue -16.07%
Increase 7.08% 17.91% 9.90% 4.89% 9.19% 5.34% 7.43% 5.74% 6.29% -2.48% 15.20% 2.98% 13.33% -8.06% 3.59% -0.39% 6.68% <-IRR #YR-> 10 Revenue -48.47%
5 year Running Average $19,362 $21,881 $24,301 $26,673 $29,217 $31,823 $34,137 $36,358 $38,802 $40,451 $43,028 $45,359 $48,591 $50,383 $52,771 $53,822 6.86% <-IRR #YR-> 5 Revenue 34.65%
Revenue per Share $12.59 $14.83 $16.23 $16.93 $18.47 $19.62 $21.22 $22.66 $24.03 $23.34 $26.92 $28.19 $32.69 $30.06 $31.14 $31.02 7.18% <-IRR #YR-> 10 5 yr Running Average 132.04%
Increase 5.23% 17.75% 9.46% 4.32% 9.11% 6.21% 8.14% 6.79% 6.07% -2.90% 15.34% 4.72% 15.99% -8.06% 3.59% -0.39% 5.97% <-IRR #YR-> 5 5 yr Running Average 99.96%
5 year Running Average $11.03 $12.18 $13.35 $14.51 $15.81 $17.22 $18.49 $19.78 $21.20 $22.17 $23.63 $25.03 $27.03 $28.24 $29.80 $30.62 7.26% <-IRR #YR-> 10 Revenue per Share 33.65%
P/S (Price/Sales) Med 3.04 2.94 3.24 3.15 2.97 3.39 3.52 3.16 2.61 3.19 3.45 3.01 2.46 2.56 0.00 0.00 7.61% <-IRR #YR-> 5 Revenue per Share 69.05%
P/S (Price/Sales) Close 3.23 3.23 3.42 3.17 3.29 3.74 3.44 3.32 2.45 3.85 3.24 2.75 2.35 2.61 2.52 2.53 7.31% <-IRR #YR-> 10 5 yr Running Average 135.55%
*Revenue in M CDN $ (using total revenue) P/S Med 20 yr  3.16 15 yr  3.15 10 yr  3.16 5 yr  3.01 -17.40% Diff M/C 6.45% <-IRR #YR-> 5 5 yr Running Average
-$29,961 $0 $0 $0 $0 $0 $0 $0 $0 $0 $57,223
-$41,065 $0 $0 $0 $0 $57,223
-$24,301 $0 $0 $0 $0 $0 $0 $0 $0 $0 $48,591
-$36,358 $0 $0 $0 $0 $48,591
-$16.23 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $32.69
-$22.66 $0.00 $0.00 $0.00 $0.00 $32.69
-$13.35 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $27.03
-$19.78 $0.00 $0.00 $0.00 $0.00 $27.03
$7.76 <-12 mths -0.64%
Net Income Adjusted $15,425 $15,143 $14,277
NCI $259 $563 $526
Net Income Adjusted Shareholders $15,166 $14,580 $13,751
Pre-split 1989
Pre-split 1999
Pre-split 2014 $6.81 $6.93
Adjusted Profit CDN$ $6,764 $6,846 $7,877 $8,754 $9,292 $10,587 $12,183 $12,503 $9,968 $14,649 $15,166 $14,580 $13,751 74.57% <-Total Growth 10 Adjusted Profit CDN$ Avail. To Sh
Return on Equity ROE 15.33% 14.54% 15.01% 13.96% 13.63% 15.17% 16.45% 15.27% 11.02% 15.56% 14.34% 13.69% 13.19% 14.15% <-Median-> 10 Return on Equity ROE
5Yr Median 12.94% 13.97% 14.54% 14.54% 14.54% 14.54% 15.01% 15.17% 15.17% 15.27% 15.27% 14.34% 13.69% 14.78% <-Median-> 10 5Yr Median
Pre-Split 2014
Basic $3.73 $3.72 $4.28 $4.62 $4.88 $5.55 $6.48 $6.71 $5.37 $7.92 $8.38 $8.00 $7.82 82.71% <-Total Growth 10 AEPS
Pre-split 2014
AEPS* Dilued $3.71 $3.71 $4.27 $4.61 $4.87 $5.54 $6.47 $6.69 $5.36 $7.91 $8.36 $7.99 $7.81 $7.84 $8.41 $8.20 82.90% <-Total Growth 10 AEPS
Increase 8.80% 0.00% 15.09% 7.96% 5.64% 13.76% 16.79% 3.40% -19.88% 47.57% 5.69% -4.43% -2.25% 0.38% 7.27% -2.50% 10 0 10 Years of Data, EPS P or N 100.00%
5 year Running Average $3.02 $3.28 $3.60 $3.94 $4.23 $4.60 $5.15 $5.64 $5.79 $6.39 $6.96 $7.26 $7.49 $7.98 $8.08 $8.05 6.22% <-IRR #YR-> 10 AEPS 82.90%
AEPS Yield 9.13% 7.76% 7.70% 8.59% 8.00% 7.55% 8.86% 8.90% 9.12% 8.80% 9.59% 10.32% 10.15% 10.01% 10.73% 10.46% 3.14% <-IRR #YR-> 5 AEPS 16.74%
Payout Ratio 38.95% 43.67% 43.09% 43.38% 44.35% 42.42% 40.34% 43.20% 58.02% 39.95% 42.58% 48.06% 52.24% 53.57% 49.94% 51.22% 7.60% <-IRR #YR-> 10 5 yr Running Average 108.12%
5 year Running Average 42.69% 41.76% 41.25% 41.47% 42.69% 43.38% 42.72% 42.74% 45.67% 44.79% 44.82% 46.36% 48.17% 47.28% 49.28% 51.01% 5.84% <-IRR #YR-> 5 5 yr Running Average 32.82%
Price/AEPS Median 10.33 11.76 12.31 11.57 11.28 12.01 11.53 10.71 11.68 9.41 11.12 10.62 10.29 9.80 0.00 0.00 11.20 <-Median-> 10 Price/AEPS Median
Price/AEPS High 11.47 12.89 13.56 12.50 12.50 13.24 12.32 11.62 14.18 11.35 12.90 11.71 11.13 10.16 0.00 0.00 12.41 <-Median-> 10 Price/AEPS High
Price/AEPS Low 9.19 10.63 11.05 10.63 10.07 10.78 10.74 9.81 9.19 7.46 9.35 9.53 9.46 9.44 0.00 0.00 9.67 <-Median-> 10 Price/AEPS Low
Price/AEPS Close 10.95 12.89 12.99 11.64 12.50 13.24 11.29 11.24 10.97 11.36 10.43 9.69 9.86 9.99 9.32 9.56 11.26 <-Median-> 10 Price/AEPS Close
Trailing P/AEPS Close 11.91 12.89 14.95 12.57 13.20 15.07 13.18 11.62 8.79 16.76 11.02 9.27 9.63 10.03 9.99 9.32 12.10 <-Median-> 10 Trailing P/AEPS Close
Median Values DPR 10 Yrs 43.29% 5 Yrs   48.06% P/CF 5 Yrs   in order 10.62 11.71 9.35 10.43 -14.32% Diff M/C DPR 75% to 95% best
* Adjusted Earnings per Share
-$4.27 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $7.81
-$6.69 $0.00 $0.00 $0.00 $0.00 $7.81
-$3.60 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $7.49
-$5.64 $0.00 $0.00 $0.00 $0.00 $7.49
$4.57 <-12 mths -3.18%
EPS Basic $3.41 $3.47 $4.15 $4.22 $4.38 $5.51 $6.02 $6.26 $6.43 $7.73 $9.48 $5.61 $4.73 13.98% <-Total Growth 10 EPS Basic
Pre-split 1989
Pre-split 1999
Pre-split 2014 $6.76 $6.91
EPS Diluted* $3.38 $3.46 $4.14 $4.21 $4.67 $5.50 $6.01 $6.25 $6.43 $7.72 $9.47 $5.60 $4.72 $6.99 $8.27 $7.87 14.01% <-Total Growth 10 EPS Diluted
Increase 5.46% 2.22% 19.83% 1.69% 10.93% 17.77% 9.27% 3.99% 2.88% 20.06% 22.67% -40.87% -15.71% 48.11% 18.34% -4.87% 10 0 10 Years of Data, EPS P or N 100.00%
Earnings Yield 8.3% 7.2% 7.5% 7.8% 7.7% 7.5% 8.2% 8.3% 10.9% 8.6% 10.9% 7.2% 6.1% 8.9% 10.6% 10.0% 1.32% <-IRR #YR-> 10 Earnings per Share 14.01%
5 year Running Average $2.56 $2.76 $3.35 $3.68 $3.97 $4.40 $4.91 $5.33 $5.77 $6.38 $7.18 $7.09 $6.79 $6.90 $7.01 $6.69 -5.46% <-IRR #YR-> 5 Earnings per Share -24.48%
10 year Running Average $2.28 $2.55 $2.79 $3.05 $3.20 $3.48 $3.83 $4.34 $4.73 $5.18 $5.79 $6.00 $6.06 $6.34 $6.70 $6.93 7.33% <-IRR #YR-> 10 5 yr Running Average 102.87%
* ESP per share  Cdn GAAP) E/P 10 Yrs 8.04% 5Yrs 8.59% 4.96% <-IRR #YR-> 5 5 yr Running Average 27.40%
-$4.14 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.72
-$6.25 $0.00 $0.00 $0.00 $0.00 $4.72
-$3.35 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $6.79
-$5.33 $0.00 $0.00 $0.00 $0.00 $6.79
Dividend* $4.21 $4.43 $4.48 Dividend*
Increase 3.11% 5.28% 1.15% Increase
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 1989
Pre-split 1999
Pre-split 2014 $2.89 $3.24
Dividend* $1.45 $1.62 $1.84 $2.00 $2.16 $2.35 $2.61 $2.89 $3.11 $3.16 $3.56 $3.84 $4.08 $4.20 $4.20 $4.20 121.74% <-Total Growth 10 Dividends
Increase 10.73% 12.11% 13.58% 8.70% 8.00% 8.80% 11.06% 10.73% 7.61% 1.61% 12.66% 7.87% 6.25% 2.94% 0.00% 0.00% 44 0 49 Years of data, Count P, N 89.80%
Average Increases 5 Year Running 6.59% 6.64% 8.68% 10.42% 10.62% 10.24% 10.03% 9.46% 9.24% 7.96% 8.73% 8.09% 7.20% 6.26% 5.94% 3.41% 9.35% <-Median-> 10 Average Incr 5 Year Running
Dividends 5 Yr Running $1.27 $1.36 $1.49 $1.64 $1.81 $1.99 $2.19 $2.40 $2.62 $2.82 $3.07 $3.31 $3.55 $3.77 $3.98 $4.10 138.90% <-Total Growth 10 Dividends 5 Yr Running
Yield H/L Price 3.77% 3.71% 3.50% 3.75% 3.93% 3.53% 3.50% 4.03% 4.97% 4.25% 3.83% 4.53% 5.08% 5.47% 3.98% <-Median-> 10 Dividends Item
Yield on High  Price 3.40% 3.39% 3.18% 3.47% 3.55% 3.20% 3.28% 3.72% 4.09% 3.52% 3.30% 4.10% 4.70% 5.27% 3.53% <-Median-> 10 Dividends EPS
Yield on Low Price 4.24% 4.11% 3.90% 4.08% 4.41% 3.94% 3.76% 4.40% 6.31% 5.35% 4.55% 5.04% 5.52% 5.67% 4.48% <-Median-> 10 Dividends AEPS
Yield on Close Price 3.56% 3.39% 3.32% 3.73% 3.55% 3.20% 3.57% 3.84% 5.29% 3.52% 4.08% 4.96% 5.30% 5.36% 5.36% 5.36% 3.78% <-Median-> 10 Dividends CFPS
Payout Ratio EPS 42.75% 46.89% 44.44% 47.51% 46.25% 42.73% 43.43% 46.24% 48.37% 40.93% 37.59% 68.57% 86.44% 60.1% 50.8% 53.4% 46.25% <-Median-> 10 DPR EPS FCF 
DPR EPS 5 Yr Running 49.80% 49.31% 44.41% 44.64% 45.66% 45.37% 44.68% 45.08% 45.46% 44.25% 42.73% 46.69% 52.30% 54.61% 56.71% 61.34% 45.23% <-Median-> 10 DPR EPS 5 Yr Running
Payout Ratio CFPS 18.89% 9.40% 13.08% 10.52% 9.09% 12.42% 83.92% 1932.89% 2.44% 11.50% 16.65% -10.53% 13.00% 13.38% #VALUE! #DIV/0! 11.96% <-Median-> 10 DPR CF
DPR CF 5 Yr Running 17.82% 16.75% 18.40% 14.27% 11.09% 10.72% 13.90% 18.49% 7.56% 7.96% 8.53% 11.81% 10.35% 10.99% #VALUE! #DIV/0! 10.91% <-Median-> 10 DPR CF 5 Yr Running
Payout Ratio CFPS WC 33.36% 36.28% 33.15% 36.87% 33.20% 19.19% 30.72% 35.88% 49.12% 36.39% 34.67% 65.06% 78.43% 80.74% #VALUE! #DIV/0! 36.13% <-Median-> 10 DPR CF WC
DPR CF WC 5 Yr Running 39.72% 37.81% 35.22% 35.10% 34.50% 29.16% 28.68% 29.49% 31.51% 32.23% 36.65% 42.20% 48.78% 51.78% #VALUE! #DIV/0! 33.36% <-Median-> 10 DPR CF WC 5 Yr Running
Median Values 10 Yr Med 10 Yr Cl 3.98% 3.78% 5 Yr Med 5 Yr Cl 4.53% 4.96% 5 Yr Med Payout 48.37% 11.50% 49.12% 7.14% <-IRR #YR-> 5 Dividends 41.18%
* Dividends per share  10 Yr Med and Cur. 34.61% 41.64% 5 Yr Med and Cur. 18.45% 8.12% Last Div Inc ---> $0.96 $1.02 6.25% 8.29% <-IRR #YR-> 10 Dividends 121.74%
Dividends Growth 15 8.38% <-IRR #YR-> 15 Dividends 234.43%
Dividends Growth 20 9.37% <-IRR #YR-> 20 Dividends 500.00%
Dividends Growth 25 10.20% <-IRR #YR-> 25 Dividends 628.57%
Dividends Growth 30 10.76% <-IRR #YR-> 30 Dividends 2047.37%
Dividends Growth 35 9.37% <-IRR #YR-> 35 Dividends 2047.37%
Dividends Growth 40 9.85% <-IRR #YR-> 40 Dividends 4185.71%
Dividends Growth 45 10.29% <-IRR #YR-> 45 Dividends
Dividends Growth 50 10.61% <-IRR #YR-> 49 Dividends
Dividends Growth 5 -$2.89 $0.00 $0.00 $0.00 $0.00 $4.08 Dividends Growth 5
Dividends Growth 10 -$1.84 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.08 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 $4.08 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 $4.08 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 $4.08 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 $4.08 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 $4.08 Dividends Growth 35
Dividends Growth 40 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.08 Dividends Growth 40
Dividends Growth 45 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.08 Dividends Growth 45
Dividends Growth 50 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.08 Dividends Growth 50
Historical Dividends Historical High Div 5.93% Low Div 2.45% 10 Yr High 6.23% 10 Yr Low 3.19% Med Div 3.55% Close Div 3.43% Historical Dividends
High/Ave/Median Values Curr diff Exp. -9.61%     118.77% Exp. -13.97% 68.02% Cheap 50.98% Cheap 56.33% High/Ave/Median 
Historical Dividends 1988 Historical High Div 5.39% Low Div 2.34% 10 Yr High 6.23% 10 Yr Low 3.19% Med Div 3.52% Close Div 3.52% Historical Dividends
Future Dividend Yield Div Yd 7.57% earning in 5 Years at IRR of 7.14% Div Inc. 41.18% Future Dividend Yield
Future Dividend Yield Div Yd 10.68% earning in 10 Years at IRR of 7.14% Div Inc. 99.31% Future Dividend Yield
Future Dividend Yield Div Yd 15.08% earning in 15 Years at IRR of 7.14% Div Inc. 181.38% Future Dividend Yield
Future Dividend Paid Div Paid $5.93 earning in 5 Years at IRR of 7.14% Div Inc. 41.18% Future Dividend Paid
Future Dividend Paid Div Paid $8.37 earning in 10 Years at IRR of 7.14% Div Inc. 99.31% Future Dividend Paid
Future Dividend Paid Div Paid $11.82 earning in 15 Years at IRR of 7.14% Div Inc. 181.38% Future Dividend Paid
Dividend Covering Cost Total Div $24.22 over 5 Years at IRR of 7.14% Div Cov. 30.91% Dividend Covering Cost
Dividend Covering Cost Total Div $52.49 over 10 Years at IRR of 7.14% Div Cov. 66.98% Dividend Covering Cost
Dividend Covering Cost Total Div $92.39 over 15 Years at IRR of 7.14% Div Cov. 117.90% Dividend Covering Cost
I am earning GC Div Gr 900.00% 2/21/00 # yrs -> 24 2000 $17.96 Cap Gain 336.30% I am earning GC
I am earning Div org yield 2.34% 10/31/25 Pension Div G Yrly 9.37% Div start $0.42 -2.34% 23.39% I am earning Div
I am earning GC Div Gr 244.26% 5/1/09 # yrs -> 15 2009 $23.85 Cap Gain 228.55% I am earning GC
I am earning Div org yield 5.12% 10/31/25 RRSP Div G Yrly 7.77% Div start $1.22 -5.12% 17.61% I am earning Div
Yield if held 5 years 4.11% 5.10% 7.20% 5.77% 5.51% 6.13% 5.98% 5.50% 5.83% 5.75% 5.35% 5.15% 5.69% 6.71% 5.65% 4.52% 5.72% <-Median-> 10 Paid Median Price
Yield if held 10 years 8.23% 8.97% 8.16% 7.57% 7.02% 6.69% 8.21% 11.30% 8.97% 8.06% 9.29% 8.80% 7.76% 7.88% 7.64% 6.31% 8.13% <-Median-> 10 Paid Median Price
Yield if held 15 years 15.62% 11.73% 11.97% 10.74% 10.79% 13.39% 14.46% 12.82% 11.77% 10.27% 10.14% 12.08% 15.95% 12.11% 10.71% 10.96% 11.93% <-Median-> 10 Paid Median Price
Yield if held 20 years 31.88% 30.49% 34.62% 37.74% 33.23% 25.41% 18.90% 18.80% 16.70% 15.78% 20.29% 21.27% 18.09% 15.89% 13.65% 11.96% 19.59% <-Median-> 10 Paid Median Price
Yield if held 25 years 41.19% 41.81% 35.97% 35.12% 35.35% 51.85% 49.12% 54.37% 58.69% 48.62% 38.49% 27.80% 26.54% 22.55% 20.98% 23.94% 43.55% <-Median-> 10 Paid Median Price
Yield if held 30 years 111.42% 81.95% 94.97% 76.19% 71.99% 66.99% 67.35% 56.50% 54.61% 51.72% 78.54% 72.27% 76.76% 79.26% 64.62% 45.41% 69.67% <-Median-> 10 Paid Median Price
Yield if held 35 years 167.93% 181.20% 132.03% 149.16% 118.48% 105.31% 101.48% 99.10% 79.77% 73.75% 68.74% 92.66% 118.48% <-Median-> 9 Paid Median Price
Yield if held 40 years 245.68% 274.51% 194.25% 210.58% 160.00% 139.97% 119.72% 228.13% <-Median-> 4 Paid Median Price
326.53% 323.86%
Cost covered if held 5 years 18.14% 21.43% 29.05% 23.67% 23.11% 26.02% 25.12% 22.85% 24.61% 25.70% 23.04% 22.20% 24.76% 30.08% 26.72% 22.07% 24.14% <-Median-> 10 Paid Median Price
Cost covered if held 10 years 59.07% 63.18% 55.72% 52.13% 48.88% 46.52% 55.91% 76.02% 61.51% 59.11% 66.03% 63.07% 56.63% 59.94% 61.89% 53.89% 57.87% <-Median-> 10 Paid Median Price
Cost covered if held 15 years 136.43% 100.71% 100.10% 90.90% 92.62% 115.89% 123.89% 108.98% 101.78% 94.75% 90.16% 108.01% 145.43% 115.83% 109.80% 119.58% 104.89% <-Median-> 10 Paid Median Price
Cost covered if held 20 years 303.36% 285.67% 316.65% 351.21% 315.69% 244.22% 180.05% 178.21% 161.34% 163.14% 203.25% 215.62% 187.69% 173.07% 159.34% 148.58% 195.47% <-Median-> 10 Paid Median Price
Cost covered if held 25 years 416.89% 415.94% 347.61% 343.99% 352.86% 523.33% 491.93% 542.62% 598.82% 532.92% 409.95% 299.95% 293.66% 262.50% 262.43% 320.19% 450.94% <-Median-> 10 Paid Median Price
Cost covered if held 30 years 1165.74% 842.31% 949.48% 773.24% 744.93% 701.09% 698.77% 582.40% 574.36% 583.96% 861.56% 803.58% 876.58% 954.38% 838.77% 631.78% 723.01% <-Median-> 10 Paid Median Price
Cost covered if held 35 years 1774.13% 1934.52% 1396.72% 1569.35% 1273.05% 1215.50% 1138.07% 1126.13% 929.42% 905.18% 909.33% 1314.29% 1273.05% <-Median-> 9 Paid Median Price
Cost covered if held 40 years 2877.19% 3122.87% 2238.80% 2490.40% 1994.52% 1881.52% 1726.06% 2683.79% <-Median-> 4 Paid Median Price
4389.31% 4669.11%
Yr  Item Tot. Growth
Revenue Growth  $41,065 $43,646 $42,562 $49,032 $50,492 $57,223 $56,310 <-12 mths -1.60% 39.35% <-Total Growth 5 Revenue Growth  39.35%
AEPS Growth $6.69 $5.36 $7.91 $8.36 $7.99 $7.81 $7.76 <-12 mths -0.64% 16.74% <-Total Growth 5 AEPS Growth 16.74%
Net Income Growth $11,416 $11,628 $14,049 $17,170 $10,219 $8,316 $8,536 <-12 mths 2.65% -27.15% <-Total Growth 5 Net Income Growth -27.15%
Cash Flow Growth $271 $231,786 $50,129 $38,949 -$65,302 $54,937 20171.96% <-Total Growth 5 Cash Flow Growth 20171.96%
Dividend Growth $2.89 $3.11 $3.16 $3.56 $3.84 $4.08 $4.20 <-12 mths 2.94% 41.18% <-Total Growth 5 Dividend Growth 41.18%
Stock Price Growth $75.21 $58.78 $89.84 $87.19 $77.46 $76.97 $78.36 <-12 mths 1.81% 2.34% <-Total Growth 5 Stock Price Growth 2.34%
Revenue Growth  $29,961 $31,426 $34,315 $36,149 $38,834 $41,065 $43,646 $42,562 $49,032 $50,492 $57,223 $52,608 <-this year -8.06% 90.99% <-Total Growth 10 Revenue Growth  90.99%
EPS Growth $4.27 $4.61 $4.87 $5.54 $6.47 $6.69 $5.36 $7.91 $8.36 $7.99 $7.81 $7.84 <-this year 0.38% 82.90% <-Total Growth 10 EPS Growth 82.90%
Net Income Growth $7,633 $7,813 $8,680 $10,010 $11,048 $11,416 $11,628 $14,049 $17,170 $10,219 $8,316 $12,755 <-this year 53.38% 8.95% <-Total Growth 10 Net Income Growth 8.95%
Cash Flow Growth $25,967 $35,273 $44,125 $34,870 $5,693 $271 $231,786 $50,129 $38,949 -$65,302 $54,937 111.56% <-Total Growth 10 Cash Flow Growth 111.56%
Dividend Growth $1.84 $2.00 $2.16 $2.35 $2.61 $2.89 $3.11 $3.16 $3.56 $3.84 $4.08 $4.21 <-this year 3.11% 121.74% <-Total Growth 10 Dividend Growth 121.74%
Stock Price Growth $55.47 $53.68 $60.86 $73.37 $73.03 $75.21 $58.78 $89.84 $87.19 $77.46 $76.97 $78.36 <-this year 1.81% 38.76% <-Total Growth 10 Stock Price Growth 38.76%
Dividends on Shares $1,762.90 $1,976.40 $2,244.80 $2,440.00 $2,635.20 $2,867.00 $3,184.20 $3,525.80 $3,794.20 $3,855.20 $4,343.20 $4,684.80 $4,977.60 $5,124.00 $5,124.00 $5,124.00 $59,368.07 No of Years 48 Total Dividends 12/31/77
Paid  $51,087.50 $61,067.10 $67,722.20 $66,172.80 $80,788.40 $89,853.00 $82,789.20 $88,852.60 $87,742.40 $118,315.60 $106,957.40 $104,456.40 $93,366.60 $95,599.20 $95,599.20 $95,599.20 $93,366.60 No of Years 48 Worth $0.82
Total $152,734.67
Dividends on Shares $273.11 $306.18 $347.76 $378.00 $408.24 $444.15 $493.29 $546.21 $587.79 $597.24 $672.84 $725.76 $771.12 $793.80 $793.80 $793.80 $6,278.58 No of Years 30 Total Dividends 12/31/94
Paid  $7,914.38 $9,460.40 $10,491.39 $10,251.36 $12,515.58 $13,919.85 $12,825.54 $13,764.87 $13,592.88 $18,329.22 $16,569.63 $16,182.18 $14,464.17 $14,810.04 $14,810.04 $14,810.04 $14,464.17 No of Years 30 Worth $5.31
Total $20,742.75
Dividends on Shares $38.00 $41.04 $44.65 $49.59 $54.91 $59.09 $60.04 $67.64 $72.96 $77.52 $79.80 $79.80 $79.80 $565.44 No of Years 10 Total Dividends 12/31/14
Paid  $1,054.69 $1,030.56 $1,258.18 $1,399.35 $1,289.34 $1,383.77 $1,366.48 $1,842.62 $1,665.73 $1,626.78 $1,454.07 $1,488.84 $1,488.84 $1,488.84 $1,454.07 No of Years 10 Worth $55.51
Total $2,019.51
Graham No. AEPS $44.79 $46.22 $52.26 $59.20 $63.41 $68.72 $76.74 $82.47 $77.50 $95.83 $104.51 $103.38 $102.32 $102.51 $106.17 $104.84 95.78% <-Total Growth 10 Graham Price AEPS
Price/GP Ratio Med 0.86 0.94 1.01 0.90 0.87 0.97 0.97 0.87 0.81 0.78 0.89 0.82 0.79 0.75 0.87 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 0.95 1.03 1.11 0.97 0.96 1.07 1.04 0.94 0.98 0.94 1.03 0.90 0.85 0.78 0.97 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 0.76 0.85 0.90 0.83 0.77 0.87 0.91 0.80 0.64 0.62 0.75 0.74 0.72 0.72 0.76 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 0.91 1.03 1.06 0.91 0.96 1.07 0.95 0.91 0.76 0.94 0.83 0.75 0.75 0.76 0.74 0.75 0.91 <-Median-> 10 Price/GP Ratio
Prem/Disc Close -9.32% 3.45% 6.14% -9.33% -4.02% 6.76% -4.84% -8.81% -24.16% -6.25% -16.57% -25.08% -24.77% -23.56% -26.20% -25.26% -9.07% <-Median-> 10 Graham Price
Graham No. EPS $42.75 $44.61 $51.46 $56.57 $62.09 $68.47 $73.96 $79.71 $84.88 $94.68 $111.23 $86.55 $79.54 $96.80 $105.31 $102.71 54.57% <-Total Growth 10 Graham Price EPS
Price/GP Ratio Med 0.90 0.98 1.02 0.94 0.88 0.97 1.01 0.90 0.74 0.79 0.84 0.98 1.01 0.79 0.92 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 1.00 1.07 1.13 1.02 0.98 1.07 1.08 0.98 0.90 0.95 0.97 1.08 1.09 0.82 1.00 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 0.80 0.88 0.92 0.87 0.79 0.87 0.94 0.82 0.58 0.62 0.70 0.88 0.93 0.76 0.84 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 0.95 1.07 1.08 0.95 0.98 1.07 0.99 0.94 0.69 0.95 0.78 0.89 0.97 0.81 0.74 0.76 0.95 <-Median-> 10 Price/GP Ratio
Prem/Disc Close -4.99% 7.20% 7.80% -5.12% -1.99% 7.15% -1.26% -5.65% -30.75% -5.11% -21.62% -10.50% -3.23% -19.05% -25.59% -23.71% -5.11% <-Median-> 10 Graham Price
Month, Year Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Dec-25 Dec-26 Dec-27 49.00 <Count Years> Month, Year
Pre-split 1989
Pre-split 1999
Pre-split 2014 $83.75 $100.11
Price Close $41.88 $50.06 $55.51 $54.24 $66.22 $73.65 $67.86 $72.83 $71.92 $96.98 $87.67 $85.62 $76.53 $78.36 $78.36 $78.36 37.87% <-Total Growth 10 Stock Price
Increase 9.78% 19.53% 10.90% -2.29% 22.09% 11.22% -7.86% 7.32% -1.25% 34.84% -9.60% -2.34% -10.62% 2.39% 0.00% 0.00% 13.51 <-Median-> 10 CAPE (10 Yr P/E)
P/E 12.39 14.49 13.41 12.88 14.18 13.39 11.29 11.65 11.19 12.56 9.26 15.29 16.21 11.21 9.47 9.96 1.00% <-IRR #YR-> 5 Stock Price 5.08%
Trailing P/E 13.07 14.81 16.07 13.10 15.73 15.77 12.34 12.12 11.51 15.08 11.36 9.04 13.67 16.60 11.21 9.47 3.26% <-IRR #YR-> 10 Stock Price 37.87%
CAPE (10 Yr P/E) 13.98 13.64 13.54 13.15 13.52 13.56 13.50 12.85 12.54 18.73 15.15 14.27 12.63 12.37 11.70 11.30 5.74% <-IRR #YR-> 5 Price & Dividend 33.42%
Median 10, 5 Yrs D.  per yr 4.49% 4.74% % Tot Ret 57.90% 82.65% T P/E 12.72 11.51 P/E:  12.72 12.56 7.75% <-IRR #YR-> 10 Price & Dividend 94.79%
Price  15 D.  per yr 4.66% % Tot Ret 44.66% CAPE Diff -17.03% 5.77% <-IRR #YR-> 15 Stock Price 132.05%
Price  20 D.  per yr 4.32% % Tot Ret 42.86% 5.76% <-IRR #YR-> 20 Stock Price 206.61%
Price  25 D.  per yr 3.82% % Tot Ret 40.35% 5.65% <-IRR #YR-> 25 Stock Price 294.99%
Price  30 D.  per yr 5.63% % Tot Ret 37.72% 9.30% <-IRR #YR-> 30 Stock Price 1341.24%
Price  35 D.  per yr 4.31% % Tot Ret 34.94% 8.03% <-IRR #YR-> 35 Stock Price 1391.81%
Price  40 D.  per yr 5.06% % Tot Ret 35.60% 9.16% <-IRR #YR-> 40 Stock Price 3227.39%
Price  45 D.  per yr 6.25% % Tot Ret 38.25% 10.09% <-IRR #YR-> 45 Stock Price 7477.23%
Price  50 D.  per yr 5.37% % Tot Ret 35.50% 9.75% <-IRR #YR-> 49 Stock Price
Price & Dividend 15 10.43% <-IRR #YR-> 15 Price & Dividend 248.51%
Price & Dividend 20 10.08% <-IRR #YR-> 20 Price & Dividend 378.91%
Price & Dividend 25 9.47% <-IRR #YR-> 25 Price & Dividend 529.88%
Price & Dividend 30 14.93% <-IRR #YR-> 30 Price & Dividend 2222.22%
Price & Dividend 35 12.34% <-IRR #YR-> 35 Price & Dividend 3077.24%
Price & Dividend 40 14.22% <-IRR #YR-> 40 Price & Dividend 7290.39%
Price & Dividend 45 16.35% <-IRR #YR-> 45 Price & Dividend 12288.63%
Price & Dividend 50 15.12% <-IRR #YR-> 49 Price & Dividend
Price  5 -$72.83 $0.00 $0.00 $0.00 $0.00 $76.53 Price  5
Price 10 -$55.51 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $76.53 Price 10
Price & Dividend 5 -$72.83 $3.11 $3.16 $3.56 $3.84 $80.61 Price & Dividend 5
Price & Dividend 10 -$55.51 $2.00 $2.16 $2.35 $2.61 $2.89 $3.11 $3.16 $3.56 $3.84 $80.61 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 $76.53 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 $76.53 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 $76.53 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 $76.53 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 $76.53 Price  35
Price  40 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $76.53 Price  40
Price  45 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $76.53 Price  45
Price  50 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $76.53 Price  50
Price & Dividend 15 $1.45 $1.62 $1.84 $2.00 $2.16 $2.35 $2.61 $2.89 $3.11 $3.16 $3.56 $3.84 $80.61 Price & Dividend 15
Price & Dividend 20 $1.45 $1.62 $1.84 $2.00 $2.16 $2.35 $2.61 $2.89 $3.11 $3.16 $3.56 $3.84 $80.61 Price & Dividend 20
Price & Dividend 25 $1.45 $1.62 $1.84 $2.00 $2.16 $2.35 $2.61 $2.89 $3.11 $3.16 $3.56 $3.84 $80.61 Price & Dividend 25
Price & Dividend 30 $1.45 $1.62 $1.84 $2.00 $2.16 $2.35 $2.61 $2.89 $3.11 $3.16 $3.56 $3.84 $80.61 Price & Dividend 30
Price & Dividend 35 $1.45 $1.62 $1.84 $2.00 $2.16 $2.35 $2.61 $2.89 $3.11 $3.16 $3.56 $3.84 $80.61 Price & Dividend 35
Price & Dividend 40 $1.45 $1.62 $1.84 $2.00 $2.16 $2.35 $2.61 $2.89 $3.11 $3.16 $3.56 $3.84 $80.61 Price & Dividend 40
Price & Dividend 45 $1.45 $1.62 $1.84 $2.00 $2.16 $2.35 $2.61 $2.89 $3.11 $3.16 $3.56 $3.84 $80.61 Price & Dividend 45
Price & Dividend 50 $1.45 $1.62 $1.84 $2.00 $2.16 $2.35 $2.61 $2.89 $3.11 $3.16 $3.56 $3.84 $80.61 Price & Dividend 50
Month, Year Oct-12 Oct-13 Oct-14 Oct-15 Oct-16 Oct-17 Oct-18 Oct-19 Oct-20 Oct-21 Oct-22 Oct-23 Oct-24 Oct-25 Oct-26 Oct-27 43.00 <Count Years> Month, Year
Pre-split 1989
Pre-split 1999
Pre-split 2014 $81.23 $95.64 $95.64
Price Close $40.62 $47.82 $55.47 $53.68 $60.86 $73.37 $73.03 $75.21 $58.78 $89.84 $87.19 $77.46 $76.97 $78.36 $78.36 $78.36 38.76% <-Total Growth 10 Stock Price
Increase 7.98% 17.74% 16.00% -3.23% 13.38% 20.56% -0.46% 2.99% -21.85% 52.84% -2.95% -11.16% -0.63% 1.81% 0.00% 0.00% 3.33% <-IRR #YR-> 10 Stock Price 38.76%
P/E 12.02 13.84 13.40 12.75 13.03 13.34 12.15 12.03 9.14 11.64 9.21 13.83 16.31 11.21 9.47 9.96 0.46% <-IRR #YR-> 5 Stock Price 2.34%
Trailing P/E 12.67 14.15 16.05 12.97 14.46 15.71 13.28 12.51 9.40 13.97 11.29 8.18 13.74 16.60 11.21 9.47 7.81% <-IRR #YR-> 10 Price & Dividend 95.73%
Median 10, 5 Yrs D.  per yr 4.48% 4.64% % Tot Ret 57.35% 90.92% T P/E 13.12 11.29 P/E:  12.45 11.64 5.11% <-IRR #YR-> 5 Price & Dividend 29.78%
-$55.47 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $76.97
-$75.21 $0.00 $0.00 $0.00 $0.00 $76.97
-$55.47 $2.00 $2.16 $2.35 $2.61 $2.89 $3.11 $3.16 $3.56 $3.84 $81.05
-$75.21 $3.11 $3.16 $3.56 $3.84 $81.05
Price Median H/L $38.32 $43.64 $52.55 $53.32 $54.94 $66.53 $74.59 $71.68 $62.63 $74.40 $92.99 $84.86 $80.39 $76.84 52.97% <-Total Growth 10 Stock Price
Increase -2.31% 13.88% 20.43% 1.47% 3.04% 21.09% 12.12% -3.91% -12.62% 18.78% 24.99% -8.74% -5.27% -4.41% 4.34% <-IRR #YR-> 10 Stock Price 52.97%
P/E 11.34 12.63 12.69 12.67 11.76 12.10 12.41 11.47 9.74 9.64 9.82 15.15 17.03 10.99 2.32% <-IRR #YR-> 5 Stock Price 12.15%
Trailing P/E 11.96 12.91 15.21 12.88 13.05 14.25 13.56 11.93 10.02 11.57 12.05 8.96 14.35 16.28 8.87% <-IRR #YR-> 10 Price & Dividend 113.10%
P/E on Run. 5 yr Ave 14.98 15.80 15.71 14.50 13.84 15.14 15.20 13.45 10.85 11.66 12.96 11.96 11.84 11.14 7.02% <-IRR #YR-> 5 Price & Dividend 40.95%
P/E on Run. 10 yr Ave 16.84 17.15 18.84 17.48 17.17 19.14 19.45 16.53 13.26 14.37 16.07 14.14 13.27 12.13 11.93 P/E Ratio Historical Median
Median 10, 5 Yrs D.  per yr 4.52% 4.70% % Tot Ret 51.03% 66.93% T P/E 12.46 11.57 P/E:  11.93 9.82 Count 43 Years of data
-$52.55 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $80.39
-$71.68 $0.00 $0.00 $0.00 $0.00 $80.39
-$52.55 $2.00 $2.16 $2.35 $2.61 $2.89 $3.11 $3.16 $3.56 $3.84 $84.47
-$71.68 $3.11 $3.16 $3.56 $3.84 $84.47
High Months Mar 12 Oct 13 Aug 14 Nov 14 Oct 16 Oct 17 Sep 17 Jun 19 Feb 20 Oct 21 Feb 22 Feb 23 Jan 24 Dec 25
Pre-split 1989
Pre-split 1999
Pre-split 2014 $85.09 $95.64 $95.64
Price High $42.55 $47.82 $57.90 $57.62 $60.86 $73.34 $79.68 $77.74 $75.98 $89.77 $107.81 $93.56 $86.89 $79.66 50.07% <-Total Growth 10 Stock Price
Increase -1.52% 12.40% 21.08% -0.48% 5.62% 20.51% 8.64% -2.43% -2.26% 18.15% 20.10% -13.22% -7.13% -8.32% 4.14% <-IRR #YR-> 11 Stock Price 50.07%
P/E 12.59 13.84 13.99 13.69 13.03 13.33 13.26 12.44 11.82 11.63 11.38 16.71 18.41 11.39 2.25% <-IRR #YR-> 5 Stock Price 11.77%
Trailing P/E 13.27 14.15 16.76 13.92 14.46 15.70 14.49 12.94 12.16 13.96 13.97 9.88 15.52 16.88 13.15 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 13.96 13.96 P/E:  13.15 11.82 17.84 P/E Ratio Historical High
-$57.90 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $86.89
-$77.74 $0.00 $0.00 $0.00 $0.00 $86.89
Low Months Nov 11 Nov 12 Dec 13 Aug 15 Feb 16 Nov 16 Apr 17 Dec 18 Mar 20 Nov 20 Jul 22 Oct 23 Jun 24 Dec 24
Pre-split 1989
Pre-split 1999
Pre-split 2014 $68.18 $78.90 $78.90 $78.90 $78.90
Price Low $34.09 $39.45 $47.20 $49.02 $49.02 $59.71 $69.50 $65.61 $49.28 $59.02 $78.17 $76.16 $73.88 $74.02 56.53% <-Total Growth 10 Stock Price
Increase -3.28% 15.72% 19.65% 3.86% 0.00% 21.81% 16.40% -5.60% -24.89% 19.76% 32.45% -2.57% -2.99% 0.19% 4.58% <-IRR #YR-> 10 Stock Price 56.53%
P/E 10.09 11.42 11.40 11.64 10.50 10.86 11.56 10.50 7.66 7.65 8.25 13.60 15.65 10.59 2.40% <-IRR #YR-> 5 Stock Price 12.60%
Trailing P/E 10.64 11.67 13.66 11.84 11.64 12.79 12.64 10.92 7.88 9.18 10.13 8.04 13.19 15.68 10.50 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 11.28 9.18 P/E:  10.68 8.25 6.68 P/E Ratio Historical Low
-$47.20 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $73.88
-$65.61 $0.00 $0.00 $0.00 $0.00 $73.88
Free Cash Flow MS Old 2024 $34,335 $36,604 $25,693 $5,106 -$523 $230,079 $49,000 $37,500 -$67,150 Free Cash Flow MS Old 2024
Change 6.61% -29.81% -80.13% -110.24% 44092.16% -78.70% -23.47% -279.07% Change
Free Cash Flow MS $12,252 $26,533 $25,085 $10,700 $13,570 $15,250 $17,330 $16,760 $16,940 $14,470 $17,260 $11,710 $10,520 $0 -58.06% <-Total Growth 10 Free Cash Flow
Change -24.98% 116.56% -5.46% -57.35% 26.82% 12.38% 13.64% -3.29% 1.07% -14.58% 19.28% -32.16% -10.16% -100.00% -8.89% <-IRR #YR-> 5 Free Cash Flow MS -37.23%
FCF/CF from Op Ratio 6.76 14.44 13.64 5.79 7.32 8.24 9.44 9.19 9.37 7.97 9.53 6.43 5.98 0.00 -8.32% <-IRR #YR-> 10 Free Cash Flow MS -58.06%
Dividends paid $1,870 $2,647 $3,188 $3,444 $3,808 $4,211 $4,634 $5,157 $5,043 $5,555 $6,665 $5,825 $7,160 $7,351 124.59% <-Total Growth 10 Dividends paid
Percentage paid 28.06% 27.61% 26.74% 30.77% 29.77% 38.39% 38.62% 49.74% 68.06% #DIV/0! $0.31 <-Median-> 9 Percentage paid
5 Year Coverage 28.62% 30.46% 32.69% 36.62% 42.66% 60.33% 5 Year Coverage
Dividend Coverage Ratio 3.56 3.62 3.74 3.25 3.36 2.60 2.59 2.01 1.47 0.00 3.25 <-Median-> 9 Dividend Coverage Ratio
5 Year of Coverage 3.49 3.28 3.06 2.73 2.34 1.66 5 Year of Coverage
-$16,760 $0 $0 $0 $0 $10,520
-$25,085 $0 $0 $0 $0 $0 $0 $0 $0 $0 $10,520
Free Cash Flow WSJ -$13,785 $9,894 $21,295 $9,564 $117,643 -$28,453 $100,878 $46,291 $36,480 $22,731 264.90% <-Total Growth 9 Free Cash Flow WSJ
Change 171.77% 115.23% -55.09% 1130.06% -124.19% 454.54% -54.11% -21.19% -37.69% -28.02% <-IRR #YR-> 5 Free Cash Flow MS -80.68%
FCF/CF from Op Ratio -0.39 0.22 0.61 1.68 434.11 -0.12 2.01 1.19 -0.56 0.41 #NUM! <-IRR #YR-> 9 Free Cash Flow MS 264.90%
Dividends paid $3,444 $3,808 $4,211 $4,634 $5,157 $5,043 $5,555 $6,665 $5,825 $7,160 107.90% <-Total Growth 9 Dividends paid
Percentage paid -24.98% 38.49% 19.77% 48.45% 4.38% -17.72% 5.51% 14.40% 15.97% 31.50% $0.15 <-Median-> 10 Percentage paid
5 Year Coverage 14.70% 17.59% 11.13% 11.00% 10.35% 17.00% 5 Year Covrage
Dividend Coverage Ratio -4.00 2.60 5.06 2.06 22.81 -5.64 18.16 6.95 6.26 3.17 4.12 <-Median-> 10 Dividend Coverage Ratio
5 Year of Coverage 1.68 6.80 5.69 8.98 9.09 9.66 5.88 5 Year of Caogerage
-$117,643 $0 $0 $0 $0 $22,731
$13,785 $0 $0 $0 $0 $0 $0 $0 $0 $22,731
Market Cap $74,585 $87,931 $102,409 $99,641 $113,054 $135,184 $133,674 $136,318 $106,750 $163,859 $158,834 $138,762 $134,721 $137,154 $137,154 $137,154 31.55% <-Total Growth 10 Market Cap
Pre-split 2014 914.9 922.5
Diluted # of Shares in Million 1,829.8 1,845.0 1,845.3 1,854.1 1,856.8 1,854.8 1,839.5 1,827.3 1,808.8 1,820.2 1,813.6 1,824.4 1,760.0 1,760.0 -4.62% <-Total Growth 10 Diluted
Change 1.33% 0.83% 0.02% 0.48% 0.15% -0.11% -0.82% -0.66% -1.01% 0.63% -0.36% 0.60% -3.53% 0.00% -0.24% <-Median-> 10 Change
Difference Diluted/Basic -0.9% -0.4% -0.3% -0.3% -0.2% -0.2% -0.2% -0.2% -0.1% -0.3% -0.2% -0.1% -0.1% -0.1% -0.18% <-Median-> 10 Difference Diluted/Basic
Pre-split 2014 906.6 918.9
Average # of Shares in Million 1,813.2 1,837.8 1,839.1 1,849.2 1,853.4 1,850.6 1,835.4 1,824.2 1,807.3 1,814.7 1,810.5 1,822.5 1,758.8 1,758.8 -4.37% <-Total Growth 10 Average
Change 2.36% 1.36% 0.07% 0.55% 0.23% -0.15% -0.82% -0.61% -0.93% 0.41% -0.23% 0.66% -3.50% 0.00% -0.19% <-Median-> 10 Change
Difference 1.3% 0.1% 0.4% 0.4% 0.2% -0.4% -0.3% -0.6% 0.5% 0.5% 0.6% -1.7% -0.5% -0.5% -0.02% <-Median-> 10 Difference
Equity
Pre-split 1989
Pre-split 1999
Pre-split 2014 918.2 919.4
# of Share in Millions 1,836.4 1,838.8 1,846.2 1,856.2 1,857.6 1,842.5 1,830.4 1,812.5 1,816.1 1,823.9 1,821.7 1,791.4 1,750.3 1,750.3 1,750.3 1,750.3 -0.53% <-IRR #YR-> 10 Shares -5.19%
Change 1.75% 0.13% 0.40% 0.54% 0.08% -0.81% -0.66% -0.98% 0.20% 0.43% -0.12% -1.66% -2.29% 0.00% 0.00% 0.00% -0.70% <-IRR #YR-> 5 Shares -3.43%
Cash Flow from Operations $M $14,046 $31,695 $25,967 $35,273 $44,125 $34,870 $5,693 $271 $231,786 $50,129 $38,949 -$65,302 $54,937 $54,937 <-12 mths 111.56% <-Total Growth 10 Cash Flow
Increase 1950.59% 125.65% -18.07% 35.84% 25.10% -20.97% -83.67% -95.24% 85429.89% -78.37% -22.30% -267.66% 184.13% 184.13% <-12 mths SO, DRIP Buy Backs S. Issues
5 year Running Average $12,232 $14,575 $14,840 $21,244 $30,221 $34,386 $29,186 $24,046 $63,349 $64,550 $65,366 $51,167 $62,100 $62,100 <-12 mths 318.47% <-Total Growth 10 CF 5 Yr Running
CFPS $7.65 $17.24 $14.07 $19.00 $23.75 $18.93 $3.11 $0.15 $127.63 $27.48 $21.38 -$36.45 $31.39 $31.39 <-12 mths 123.16% <-Total Growth 10 Cash Flow per Share
Increase 1918.75% 125.36% -18.40% 35.11% 25.00% -20.33% -83.57% -95.19% 85260.35% -78.47% -22.21% -270.50% 186.10% 186.10% <-12 mths 7.78% <-IRR #YR-> 10 Cash Flow 111.56%
5 year Running Average $7.15 $8.13 $8.08 $11.51 $16.34 $18.60 $15.77 $12.99 $34.71 $35.46 $35.95 $28.04 $34.29 $34.29 <-12 mths 189.32% <-IRR #YR-> 5 Cash Flow 20171.96%
P/CF on Med Price 5.01 2.53 3.74 2.81 2.31 3.52 23.98 479.38 0.49 2.71 4.35 -2.33 2.56 2.56 <-12 mths 8.36% <-IRR #YR-> 10 Cash Flow per Share 123.16%
P/CF on Closing Price 5.31 2.77 3.94 2.82 2.56 3.88 23.48 503.02 0.46 3.27 4.08 -2.12 2.45 2.45 <-12 mths 191.35% <-IRR #YR-> 5 Cash Flow per Share 20892.36%
-11.03% Diff M/C 15.56% <-IRR #YR-> 10 CFPS 5 yr Running 324.57%
Excl.Working Capital CF -$6,092 -$23,485 -$15,721 -$25,205 -$32,039 -$12,306 $9,856 $14,330 -$220,287 -$34,292 -$20,243 $75,875 -$45,832 -$45,832 <-12 mths 21.43% <-IRR #YR-> 5 CFPS 5 yr Running 163.97%
CF fr Op $M WC $7,954 $8,210 $10,246 $10,068 $12,086 $22,564 $15,549 $14,601 $11,499 $15,837 $18,706 $10,573 $9,105 $9,105 <-12 mths -11.14% <-Total Growth 10 Cash Flow less WC
Increase 21.66% 3.22% 24.80% -1.74% 20.04% 86.70% -31.09% -6.10% -21.25% 37.73% 18.12% -43.48% -13.88% -13.88% <-12 mths -1.17% <-IRR #YR-> 10 Cash Flow less WC -11.14%
5 year Running Average $5,653 $6,488 $7,691 $8,603 $9,713 $12,635 $14,103 $14,974 $15,260 $16,010 $15,238 $14,243 $13,144 $13,144 <-12 mths -9.01% <-IRR #YR-> 5 Cash Flow less WC -37.64%
CFPS Excl. WC $4.33 $4.46 $5.55 $5.42 $6.51 $12.25 $8.49 $8.06 $6.33 $8.68 $10.27 $5.90 $5.20 $5.20 <-12 mths 5.51% <-IRR #YR-> 10 CF less WC 5 Yr Run 70.91%
Increase 19.56% 3.08% 24.30% -2.27% 19.95% 88.23% -30.63% -5.17% -21.40% 37.14% 18.26% -42.52% -11.86% -11.86% <-12 mths -2.57% <-IRR #YR-> 5 CF less WC 5 Yr Run -12.22%
5 year Running Average $3.21 $3.60 $4.22 $4.68 $5.26 $6.84 $7.64 $8.15 $8.33 $8.76 $8.37 $7.85 $7.28 $7.28 <-12 mths -0.65% <-IRR #YR-> 10 CFPS - Less WC -6.27%
P/CF on Med Price 8.85 9.77 9.47 9.83 8.44 5.43 8.78 8.90 9.89 8.57 9.06 14.38 15.45 15.45 <-12 mths -8.38% <-IRR #YR-> 5 CFPS - Less WC -35.43%
P/CF on Closing Price 9.38 10.71 9.99 9.90 9.35 5.99 8.60 9.34 9.28 10.35 8.49 13.12 14.80 14.80 <-12 mths 5.60% <-IRR #YR-> 10 CFPS 5 yr Running 72.47%
*Operational Cash Flow per share CF/CF-WC P/CF Med 10 yr 2.76 5 yr  2.56 P/CF Med 10 yr 8.98 5 yr  9.89 64.83% Diff M/C -2.23% <-IRR #YR-> 5 CFPS 5 yr Running -10.66%
-$14.07 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $31.39 Cash Flow per Share
-$0.15 $0.00 $0.00 $0.00 $0.00 $31.39 Cash Flow per Share
-$8.08 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $34.29 CFPS 5 yr Running
-$12.99 $0.00 $0.00 $0.00 $0.00 $34.29 CFPS 5 yr Running
-$10,246 $0 $0 $0 $0 $0 $0 $0 $0 $0 $9,105 Cash Flow less WC
-$14,601 $0 $0 $0 $0 $9,105 Cash Flow less WC
-$7,691 $0 $0 $0 $0 $0 $0 $0 $0 $0 $13,144 CF less WC 5 Yr Run
-$14,974 $0 $0 $0 $0 $13,144 CF less WC 5 Yr Run
-$5.55 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5.20 CFPS - Less WC
-$8.06 $0.00 $0.00 $0.00 $0.00 $5.20 CFPS - Less WC
-$4.22 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $7.28 CFPS 5 yr Running
-$8.15 $0.00 $0.00 $0.00 $0.00 $7.28 CFPS 5 yr Running
Changes in operating assets and liabilities
Interest receivable and payable $236 -$425 -$204 -$294 $7 -$283 -$104 -$108 -$288 -$412 $812 $1,133
Secuirities Purchased (sold) revers repurchase agreements $39,616 $4,758 -$3,227 -$44,779 -$16,073 $36,832 $35,046
Securities sold short under repurchase agreements -$48,377 $7,050 $63,020 $1,878 $7,117 -$41,873 -$3,884
Securities sold short $9,818 $8,394 -$2,364 -$662 -$5,688 $2,367 $3,996 $5,343 $7,030 $3,121 -$2,722 -$5,146
Trading loans and securities -$21,178 -$7,397 $767 $6,016 -$4,100 -$4,661 -$24,065 -$2,318 $1,177 $3,864 -$5,332 -$23,680
Loans net of securitization and sales -$26,319 -$33,820 -$33,717 -$63,947 -$44,351 -$22,332 -$45,620 -$39,614 -$3,660 -$109,463 -$67,766 -$57,908
Deposits $47,487 $64,541 $72,059 $108,446 $81,885 $40,150 $53,379 $240,648 -$6,494 $105,759 -$25,487 $69,922
Derivatives $2,208 -$4,068 -$4,597 -$7,633 $5,403 $1,836 -$3,745 -$2,196 $3,734 -$15,435 -$2,341 $6,049
Non-trading financial assets $5,257 -$2,045 -$842 -$1,556 $3,897 $1,471
Financial assets and liabilities designated at fair value through profit or loss -$1,952 -$364 $1,783 $371 $96 $245 -$468 -$46,165 $54,498 $48,323 $28,565 $15,185
Securitization liabilities -$2,265 -$3,962 -$11,394 -$2,429 -$3,321 -$1,575 -$1,532 $2,342 -$719 -$1,083 -$552 $5,552
Curremt Taxes -$780 $280 $239 -$4,100 $1,228 $658
Broker, dealers and clients amts rec & pay -$1,435 -$1,979 -$4,592 $8,799 -$5,128 $4,027
Other -$2,069 $128 -$7,996 -$16,267 -$168 $3,436 -$8,956 -$869 $27,348 -$8,628 $1,011 -$6,182
Income taxes paid/payable -$1,296 -$869
Provision for credit losses $1,795 $1,631 $1,557 $1,683 $2,330 $2,216 $2,480 $7,242 -$224 $1,067 $2,933 $4,253
Net securities losses (gains) -$373 -$304 -$173 -$79 -$54 -$128 -$111 -$40 -$14 -$60 $48 -$1,022
Equity in net income of an invest meritrade -$997
Dilution Gains -$204 $0 $358
                         
Sum $6,092 $23,485 $15,721 $25,205 $32,039 $12,306 -$9,896 $0 $220,314 $34,292 $20,243 -$75,875 $45,832
Google --> TD $25,205 $32,039 $21,067 -$9,856 -$14,330 $220,287 $34,292 $20,243 -$75,875 $45,832
Difference $0 $0 -$8,761 -$40 $14,330 $27 $0 $0 $0 $0
Google --> TD $15,676 $25,205 $32,039 $12,324
Difference $45 $0 $0 -$18
OPM 26.69% 23.37% 25.48% 24.86% 25.30% 27.69% 28.45% 27.80% 26.64% 33.01% 35.02% 20.24% 14.53% 24.25% -41.55% <-Total Growth 10 OPM
Increase 0.95% -12.42% 9.00% -2.41% 1.74% 9.47% 2.74% -2.28% -4.17% 23.90% 6.09% -42.20% -28.19% 66.83% should be zero, it is a check on calculations
Diff from Ave. -1.8% -14.0% -6.2% -8.5% -6.9% 1.9% 4.7% 2.3% -1.9% 21.5% 28.9% -25.5% -46.5% -10.8% 0.00 <-Median-> 10 OPM
*Operational Profit Margin (Net Income/Revenue) Ratio for banks OPM 10 Yrs 27.17% 5 Yrs 28.45% Should increase or be stable.
$26,481 <-12 mths -4.20%
EBIT $18,160 $17,229 $24,673 $24,409 $27,641 $21,605 $22,245 EBIT From MktSc
Change -5.13% 43.21% -1.07% 13.24% -21.84% 2.96% Change
Margin 41.61% 40.48% 50.32% 48.34% 48.30% 41.07% 40.82% Margin
Covering Assets $671,691 $685,254 $706,226 $805,530 $872,882 $616,685 $973,068 $1,328,027 $1,604,090 $1,785,668 $1,316,460 $1,330,647 $1,494,024 $1,494,024 111.55% <-Total Growth 10 Covering Assets Type
Change 34.78% 2.02% 3.06% 14.06% 8.36% -29.35% 57.79% 36.48% 20.79% 11.32% -26.28% 1.08% 12.28% 0.00% 0.12 <-Median-> 10 Change Lg Term R A
Debt/Covering Assets Ratio 0.73 0.79 0.85 0.86 0.89 1.35 0.88 0.67 0.71 0.63 0.93 0.90 0.85 0.85 0.87 <-Median-> 10 Debt/Covering Assets Ratio Lg Term R
Long Term Debt $487,754 $541,605 $600,176 $695,576 $773,660 $832,824 $851,439 $886,977 $1,135,333 $1,125,125 $1,229,970 $1,198,190 $1,268,680 $1,268,680 111.38% <-Total Growth 10 Deposits Long Term Debt Intang/GW
Change 1.38% 11.04% 10.81% 15.90% 11.23% 7.65% 2.24% 4.17% 28.00% -0.90% 9.32% -2.58% 5.88% 0.00% 6.77% <-Median-> 10 Change Liquidity
Debt/Market Cap Ratio 6.54 6.16 5.86 6.98 6.84 6.16 6.37 6.51 10.64 6.87 7.74 8.63 9.42 9.25 6.92 <-Median-> 10 Debt/Market Cap Ratio Liq. + CF
Assets/Current Liabilities Ratio 56.57 47.81 46.13 29.94 31.34 29.07 34.49 40.42 31.28 34.70 43.56 34.73 40.72 40.72 34.60 <-Median-> 10 Assets/Current Liab Ratio Debt Ratio
Current Liabilities/Asset Ratio 0.02 0.02 0.02 0.03 0.03 0.03 0.03 0.02 0.03 0.03 0.02 0.03 0.02 0.02 0.03 <-Median-> 10 Current Liab/Asset Ratio Leverage Bk
Debt to Cash Flow (Years) 34.73 17.09 23.11 19.72 17.53 23.88 149.56 3272.98 4.90 22.44 31.58 0.00 23.09 23.09 22.77 <-Median-> 10 Debt to Cash Flow (Years) Leverage
D/E Ratio
Intangibles $2,493 $2,680 $2,671 $2,639 $2,618 $2,459 $2,503 $2,125 $2,123 $2,303 $2,771 $3,044 $3,044 13.58% <-Total Growth 10 Intangibles
Goodwill $12,311 $13,297 $14,233 $16,337 $16,662 $16,156 $16,536 $16,976 $17,148 $16,232 $17,656 $18,602 $18,851 $18,851 32.45% <-Total Growth 10 Goodwill
Total $12,311 $15,790 $16,913 $19,008 $19,301 $18,774 $18,995 $19,479 $19,273 $18,355 $19,959 $21,373 $21,895 $21,895 29.46% <-Total Growth 10 Total
Change -14.36% 28.26% 7.11% 12.39% 1.54% -2.73% 1.18% 2.55% -1.06% -4.76% 8.74% 7.08% 2.44% 0.00% 1.99% <-Median-> 10 Change
Intangible/Market Cap Ratio 0.17 0.18 0.17 0.19 0.17 0.14 0.14 0.14 0.18 0.11 0.13 0.15 0.16 0.16 0.15 <-Median-> 10 Intangible/Market Cap Ratio
Current Assets $24,528 $32,436 $46,554 $45,637 $57,621 $68,420 $51,051 $47,533 $189,450 $183,072 $171,152 $134,574 $204,548 $204,548 Liquidity ratio of 1.5 and up, best
Current Liabilities $14,338 $18,039 $20,482 $36,887 $37,553 $43,999 $38,699 $35,017 $54,850 $49,823 $44,021 $56,351 $50,629 $50,629 1.97 <-Median-> 10 Ratio
Liquidity Ratio 1.71 1.80 2.27 1.24 1.53 1.56 1.32 1.36 3.45 3.67 3.89 2.39 4.04 4.04 3.67 <-Median-> 5 Ratio
Liq. with CF aft div 2.51 3.39 3.37 2.09 2.60 2.25 1.34 1.22 7.58 4.56 4.63 2.13 4.98 4.98 4.63 <-Median-> 5 Ratio
Liq. CF re  Inv+Div  0.93 1.60 1.28 0.92 1.56 0.89 1.34 1.22 1.49 2.39 2.68 2.13 2.63 4.98 2.39 <-Median-> 5 Ratio
Banks usually have a ratio of 1.04 or 1.05
Assets $811,100 $862,532 $944,742 $1,104,373 $1,176,967 $1,278,995 $1,334,903 $1,415,290 $1,715,865 $1,728,672 $1,917,528 $1,957,024 $2,061,751 $2,061,751 Debt Ratio of 1.5 and up, best
Liabilities $762,100 $810,559 $888,511 $1,037,345 $1,102,753 $1,203,805 $1,254,863 $1,327,589 $1,620,366 $1,628,854 $1,806,145 $1,844,917 $1,946,591 $1,946,591 1.06 <-Median-> 10 Ratio
Debt Ratio 1.06 1.06 1.06 1.06 1.07 1.06 1.06 1.07 1.06 1.06 1.06 1.06 1.06 1.06 1.06 <-Median-> 5 Ratio
Estimates BVPS $62.01 $65.76 $67.43 Estimates Estimates BVPS
Estimate Book Value $108,536 $115,100 $118,023 Estimates Estimate Book Value
P/B Ratio (Close) 1.26 1.19 1.16 Estimates P/B Ratio (Close)
Difference from 10 year median -17.82% Diff M/C Estimates Difference from 10 yr med.
Total Book Value $49,000 $51,973 $56,231 $67,028 $74,214 $75,190 $80,040 $87,701 $95,499 $99,818 $111,383 $112,107 $115,160 $115,160 104.80% <-Total Growth 10 Book Value
NCI $1,477 $1,508 $1,549 $1,610 $1,650 $983 $993 $0 $0 $0 $0 $0 $0 $0 NCI
Sharerholders Equity $47,523 $50,465 $54,682 $65,418 $72,564 $74,207 $79,047 $87,701 $95,499 $99,818 $111,383 $112,107 $115,160 $115,160 $115,160 $115,160 110.60% <-Total Growth 10 Book Value
Preferred Shares $3,395 $3,397 $2,200 $2,700 $4,400 $4,400 $5,000 $5,800 $5,050 $5,700 $5,600 $5,600 $10,888 $10,888 $10,888 $10,888 Preferred Shares
Book Value $44,128 $47,068 $52,482 $62,718 $68,164 $69,807 $74,047 $81,901 $90,449 $94,118 $105,783 $106,507 $104,272 $104,272 $104,272 $104,272 98.68% <-Total Growth 10 Book Value
Book Value per Share $24.03 $25.60 $28.43 $33.79 $36.69 $37.89 $40.45 $45.19 $49.80 $51.60 $58.07 $59.45 $59.57 $59.57 $59.57 $59.57 109.57% <-Total Growth 10 Book Value per Share
Change -0.21% 6.52% 11.06% 18.86% 8.60% 3.25% 6.78% 11.70% 10.22% 3.61% 12.53% 2.39% 0.20% -0.01% 0.01% 0.00% -22.83% P/B Ratio Current/Historical Median
P/BV (Median) 1.59 1.70 1.85 1.58 1.50 1.76 1.84 1.59 1.26 1.44 1.60 1.43 1.35 1.29 1.70 P/B Ratio Historical Median
P/BV (Close) 1.69 1.87 1.95 1.59 1.66 1.94 1.81 1.66 1.18 1.74 1.50 1.30 1.29 1.32 1.32 1.32 7.68% <-IRR #YR-> 10 Book Value per Share
Change 8.20% 10.53% 4.45% -18.58% 4.40% 16.76% -6.78% -7.80% -29.09% 47.51% -13.76% -13.23% -0.83% 1.81% -0.01% 0.00% 5.68% <-IRR #YR-> 5 Book Value per Share 109.57%
Leverage re Bank 4.5% 4.8% 4.9% 4.4% 4.2% 4.2% 31.84%
Leverage (A/BK) 16.55 16.60 16.80 16.48 15.86 17.01 16.68 16.14 17.97 17.32 17.22 17.46 17.90 17.90 17.11 <-Median-> 10 A/BV
Debt/Equity Ratio 15.55 15.60 15.80 15.48 14.86 16.01 15.68 15.14 16.97 16.32 16.22 16.46 16.90 16.90 16.11 <-Median-> 10 Debt/Eq Ratio
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Med 1.54 5 yr Med 1.43 -14.45% Diff M/C 17.78 Historical 29 A/BV
-$28.43 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $59.57
-$45.19 $0.00 $0.00 $0.00 $0.00 $59.57
Comprehensive Income $6,790 $6,183 $9,202 $13,697 $9,679 $7,014 $10,666 $14,707 $14,361 $9,496 $13,135 $11,458 $13,885 50.89% <-Total Growth 10 Comprehensive Income
Preferred Shareholders $196 $185 $143 $99 $115 $193 $214 $252 $267 $267 $259 $563 $563 Preferred Shareholders
NCI $104 $105 $107 $112 $141 $121 $72 $18 $0 $0 $0 $0 $0 -100.00% <-Total Growth 10 NCI
Shareholders $6,490 $5,893 $8,952 $13,486 $9,423 $6,700 $10,380 $14,437 $14,094 $9,229 $12,876 $10,895 $13,322 -1.22% <-Total Growth 10 Comprehensive Income
Increase 23.85% -9.20% 51.91% 50.65% -30.13% -28.90% 54.93% 39.08% -2.38% -34.52% 39.52% -15.39% 22.28% -2.4% <-Median-> 5 Comprehensive Income
5 Yr Running Average $4,950 $5,358 $6,203 $8,012 $8,849 $8,891 $9,788 $10,885 $11,007 $10,968 $12,203 $12,306 $12,083 4.06% <-IRR #YR-> 10 Comprehensive Income
ROE 14.7% 12.5% 17.1% 21.5% 13.8% 9.6% 14.0% 17.6% 15.6% 9.8% 12.2% 10.2% 12.8% -1.59% <-IRR #YR-> 5 Comprehensive Income 48.82%
5Yr Median 12.9% 12.5% 12.5% 14.7% 14.7% 13.8% 14.0% 14.0% 14.0% 14.0% 14.0% 12.2% 12.2% 6.90% <-IRR #YR-> 10 5 Yr Running Average -7.72%
% Difference from NI 5.2% -7.5% 17.3% 72.6% 8.6% -33.1% -6.0% 26.5% 21.2% -34.3% -25.0% 6.6% 60.2% 2.11% <-IRR #YR-> 5 5 Yr Running Average 94.80%
Median Values Diff 5, 10 yr 7.6% 6.6% 12.2% <-Median-> 5 Return on Equity 11.01%
-$8,952 $0 $0 $0 $0 $0 $0 $0 $0 $0 $13,322
-$14,437 $0 $0 $0 $0 $13,322
-$6,203 $0 $0 $0 $0 $0 $0 $0 $0 $0 $12,083
-$10,885 $0 $0 $0 $0 $12,083
Current Liability Coverage Ratio 0.55 0.46 0.50 0.27 0.32 0.51 0.40 0.42 0.21 0.32 0.42 0.19 0.18 0.18   CFO / Current Liabilities
5 year Median 0.46 0.46 0.46 0.40 0.40 0.40 0.40 0.40 0.32 0.21 0.19 0.21 <-Median-> 5 Current Liability Cov Ratio
Asset Efficiency Ratio 0.98% 0.95% 1.08% 0.91% 1.03% 1.76% 1.16% 1.03% 0.67% 0.92% 0.98% 0.54% 0.44% 0.44% CFO / Total Assets
5 year Median 0.89% 0.95% 0.95% 0.95% 0.98% 1.03% 1.08% 1.03% 1.03% 1.03% 0.98% 0.92% 0.67% 0.54% 0.7% <-Median-> 5 Return on Assets 
Return on Assets ROA 0.76% 0.74% 0.81% 0.71% 0.74% 0.78% 0.83% 0.81% 0.68% 0.81% 0.90% 0.52% 0.40% 0.62% Net  Income/Assets Return on Assets
5Yr Median 0.72% 0.74% 0.76% 0.76% 0.74% 0.74% 0.78% 0.78% 0.78% 0.81% 0.81% 0.81% 0.68% 0.62% 0.7% <-Median-> 5 Asset Efficiency Ratio
Return on Equity ROE 13.98% 13.54% 14.54% 12.46% 12.73% 14.34% 14.92% 13.94% 12.86% 14.93% 16.23% 9.59% 7.98% 12.23% Net Inc/ Shareholders' equity Return on Equity
5Yr Median 12.66% 13.14% 13.54% 13.54% 13.54% 13.54% 14.34% 13.94% 13.94% 14.34% 14.92% 13.94% 12.86% 12.23% 12.9% <-Median-> 5 Return on Equity
$8,536 <-12 mths 2.65%
Net Income $6,471 $6,662 $7,883 $8,024 $8,936 $10,324 $11,334 $11,686 $11,895 $14,298 $17,429 $10,782 $8,842 12.17% <-Total Growth 10 Net Income
Preferred Shareholders $196 $185 $143 $99 $141 $193 $214 $252 $267 $249 $259 $563 $526 267.83% <-Total Growth 10 Preferred Shareholders
NCI $104 $105 $107 $112 $115 $121 $72 $18 $0 $0 $0 $0 $0 -100.00% <-Total Growth 10 NCI
Shareholders $6,171 $6,372 $7,633 $7,813 $8,680 $10,010 $11,048 $11,416 $11,628 $14,049 $17,170 $10,219 $8,316 $12,755 $14,335 $14,229 8.95% <-Total Growth 10 Net Income
Increase 8.09% 3.26% 19.79% 2.36% 11.10% 15.32% 10.37% 3.33% 1.86% 20.82% 22.22% -40.48% -18.62% 53.38% 12.39% -0.74% EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average $4,611 $5,131 $6,067 $6,740 $7,334 $8,102 $9,037 $9,793 $10,556 $11,630 $13,062 $12,896 $12,276 $12,502 $12,559 $11,971 0.86% <-IRR #YR-> 10 Net Income
Operating Cash Flow $14,046 $31,695 $25,967 $35,273 $44,125 $34,870 $5,693 $271 $231,786 $50,129 $38,949 -$65,302 $54,937 -6.14% <-IRR #YR-> 5 Net Income 8.95%
Investment Cash Flow -$24,490 -$20,098 -$33,475 -$47,077 -$24,972 -$67,311 $1,549 $5,506 -$224,115 -$45,268 -$31,895 $76,226 -$45,422 7.30% <-IRR #YR-> 10 5 Yr Running Ave. -27.15%
Total Accruals $16,615 -$5,225 $15,141 $19,617 -$10,473 $42,451 $3,806 $5,639 $3,957 $9,188 $10,116 -$705 -$1,199 4.62% <-IRR #YR-> 5 5 Yr Running Ave. 102.35%
Total Assets $811,100 $862,532 $944,742 $1,104,373 $1,176,967 $1,278,995 $1,334,903 $1,415,290 $1,715,865 $1,728,672 $1,917,528 $1,957,024 $2,061,751 Balance Sheet Assets 25.35%
Accruals Ratio 2.05% -0.61% 1.60% 1.78% -0.89% 3.32% 0.29% 0.40% 0.23% 0.53% 0.53% -0.04% -0.06% 0.23% <-Median-> 5 Ratio
EPS/CF Ratio 0.78 0.77 0.75 0.78 0.72 0.45 0.71 0.78 1.02 0.89 0.92 0.95 0.91 0.83 <-Median-> 10 EPS/CF Ratio
-$7,633 $0 $0 $0 $0 $0 $0 $0 $0 $0 $8,316
-$11,416 $0 $0 $0 $0 $8,316
-$6,067 $0 $0 $0 $0 $0 $0 $0 $0 $0 $12,276
-$9,793 $0 $0 $0 $0 $12,276
Change in Close 8.0% 17.7% 16.0% -3.2% 13.4% 20.6% -0.5% 3.0% -21.8% 52.8% -2.9% -11.2% -0.6% 1.8% 0.0% 0.0% Count 43 Years of data
up/down down up Count 9 20.93%
Meet Prediction? % right Count 2 22.22%
Financial Cash Flow $10,780 -$11,489 $6,565 $11,916 -$18,451 $32,599 -$6,527 -$5,652 -$6,129 -$5,036 -$4,819 -$12,847 -$9,813 C F Statement  Financial Cash Flow
Total Accruals $5,835 $6,264 $8,576 $7,701 $7,978 $9,852 $10,333 $11,291 $10,086 $14,224 $14,935 $12,142 $8,614 Accruals
Accruals Ratio 0.7% 0.7% 0.9% 0.7% 0.7% 0.8% 0.8% 0.8% 0.6% 0.8% 0.8% 0.6% 0.4% 0.62% <-Median-> 5 Ratio
Net Cash Flow $336 $108 $943 $112 $702 $158 $764 $128 $1,545 -172.00 $2,238 $1,920 $295 Net Cash Flow
Per share $0.18 $0.06 $0.51 $0.06 $0.38 $0.09 $0.42 $0.07 $0.85 -$0.09 $1.23 $1.07 $0.17 Per share
5 yr Running  $0.21 $0.17 $0.04 $0.02 $0.03 $0.01 $0.09 $0.20 $0.36 0.27 $0.49 $0.20 $0.15 5 yr Running 
Cash $6,430 $3,581 $2,781 $3,154 $3,907 $3,971 $4,735 $4,863 $6,445 $5,931 $8,556 $6,721 $6,437 $6,437 Cash
Cash per Share $3.50 $1.95 $1.51 $1.70 $2.10 $2.16 $2.59 $2.68 $3.55 $3.25 $4.70 $3.75 $3.68 $3.68 $3.68 <-Median-> 5 Cash per Share
Percentage of Stock Price 8.62% 4.07% 2.72% 3.17% 3.46% 2.94% 3.54% 3.57% 6.04% 3.62% 5.39% 4.84% 4.78% 4.69% 4.84% <-Median-> 5 % of Stock Price
Notes:
January 5, 2025.  Last estimates were for 
January 6, 2024.  Last estimates were for 2023, 2024 and 2025 of $51391M, $55294M and $50896M for Revenue, $9.04, $9.61 and $8.49 for AEPS, 
$8.58, $9.33 and $8.49 for EPS, $3.75, $54.23 and $4.06 for Dividends, $59.70 and $63.60 2023/4 for BVPS, $15308M, $16294M and $15405M for Net Income.
January 7, 2023.  Last estimates were for 2022 and 2023 of $41937M and $45108M for Revenue, $7.88 and $8.36 for EPS, 
$3.59 and $3.87 for Dividends, and $14372M and $14643M for Net Income.
January 8, 2022.  Last estimates were for 2021 and 2022 of $39261M, $40898M for Revenue, $5.76 and $6.46 for EPS, 
$3.16, $3.10 and $3.19 for Dividends, and $12399M and $14318M for Net Income.
January 9, 2021.  Last estimates were for 2020, 2021 and 2022 of 40248, $41622 and $43429 for Revenue, $6.70, $7.06 and 7.08 for EPS, 
$3.10, $3.31 and $3.40 for Dovodemds and $12056, $12667 and $12833 for Net Income.
January 10, 2020.  Last estimates were for 2019, 2020 and 2021 of $39478M, $41290M, and $41658M for Revenue, $6.78, $7.25 and $8.28 for EPS and $12207M and $13254M for Net Income fo 2019 and 2020.
January 12, 2019.  Last estimates were for 2018, 2019 and 2020 of $36198M, $37042M and $37042M for Revenue, $5.53, $6.93 and $6.93 for EPS,  $6.54 for CFPS for 2018.
Looks like I did not update future values in the previous year.
January 7, 2018.  Last estimates were for 2017, 2018 and 2019 of $34550M, $36198M and $37042M for Revenue, $5.16, $5.53 and $6.93 for EPS,
 $5.36 and $6.54 for CFPS for 2016 and 2017, and $9369M for Net Income for 2017.
January 14, 2017.  Last estimates were for 2016, 2017 and 2018 of $31997M, $33730M and $34869M for Revenue, $4.75, $5.07 and $5.92 for EPS, 
$5.36, $5.76 and $6.34 for CFPS and $8741M and $9369M for Net Income for 2016 and 2017.
January 10, 2016.  Last estimates were for 2016, 2017 and 2018 of 29630M, 31581M and $32010M for Revenue, $4.45, $4.80 and 5.28 for EPS, $4.99, $5.39 and $5.55 for CFPS and $8266M, $8924M and $9592M for net income.
January 10, 2015.  Last estimates were for 2014, 2015 and 2016 of $28500M, $30075M and $60414M for Revenue, $8.37, $9.14 and $9.63 for EPS, $4.67, $4.99
 and $4.93 for CFPS and $7701M, $8398M and $8874M for net income.
January 9, 2014.  Last estimtes were for 2013 and 2014 of $24229M and $26370M for Revenue and $7.81 and $8.72 for EPS and $9.54 for CFPS for 2013.
January 01, 2013.  Last estimates were for 2012 and 2013 at $23051M and 24374M for Revenue, $7.06 and $7.80 for EPS and $8.72 and $9.54 for CFPS.
Dec 16, 2011.  Last Estimates were $6.48 and $7.25 for EPS and $7.70 and $10 for CF
Feb 24, 2011.  Check unaudited figures I got previous against audited statements received.  There were no changes.  However, I got the net income figures from wrong column and I have fixed that.
I got changes in working capital or current assets and liabilities from Globe site.
Dec 06, 2011.  when I last looked I got estimates for 2010 and 2011 of $5.45 and $6.40 for earnings and $7.40 and $8.00 for cash flows.
Dec 17, 2009.  I have updated speadsheet with unaudited 2009 report.  The huge amount of insider selling during the last 12 months is a big negative for this stock.
In March 2009, I picked up earnings for 2009 and 2010 of $5.20 and $5.58 and CF of $5.96 and $6.36.
2008.  I have had stock since Feb 2000 and have made IRR of 6.62%.  Not great, but we are in a bear market currently.  Dividends have increased nicely.
2005.  I have had stock since Feb 2000 and have made IRR of 13.29%.  What you expect from a bank stock.  Div counts a lot.  Revenue and stock still recovering from 2001 bear market.
2004. earnings are starting to grow, but not yet strongly.
Earnings are not growing well lately.2003
TD Bank has been a dividend payer since 1857.
Sector:
Bank, Financial Services
What should this stock accomplish?
I would expect dividends to be moderate to good with moderate dividend growth over the longer term.
Would I buy this company and Why.
This is one of the big 5 banks of Canada.  I think all Canadians should have at least one bank in their portfolio.  
I have three banks of BMOm RY and TD. 
Why am I following this stock. 
This stock, as all banks, was on Mike Higgs' Canadian Dividend Growth Stock list and the other dividend lists that I followed.
Why I bought this stock.
When I sold some Metro in 2009, I bought this stock.  It is the 3rd bank stock I bought.
Dividends
Dividends are paid in cycle 1, but at the very end of the month, so they are 31st of January, April, July and October.  Dividends are declared in one month for shareholders and payment in the following month.
For example, the dividend declared on December 5, 2013 is for shareholders of record of January 6, 2014 and payable on January 31, 2014.
Misson Statement or closes thing I can find.
What I am looking for is a mission statement that the company wants to do well by their customers, employees, and community and thereby earn shareholders a reasonable return.
Our Mission:  We will be the Best Run, Customer-Focused, Integrated Financial Institution, with a Unique and Inclusive Employee Culture.
Our Strategy: To produce long-term, profitable growth by building great franchises and delivering value to our Customers, Shareholders and Communities.
How they make their money
Toronto-Dominion is one of Canada's two largest banks and operates three business segments: Canadian retail banking, US retail banking, and wholesale banking. The bank's 
US operations span from Maine to Florida, with a strong presence in the Northeast. It also has a 13% ownership stake in Charles Schwab.
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
Date 2017 Jan 7 2018 Jan 12 2019 Jan 10 2020 Jan 09 2021 Jan 08 2022 Jan 07 2023 Jan 06 2024 Jan 05 2025 Change
Masrani, Bharat 0.03% 0.617 0.03% 0.617 0.03% 0.614 0.03% 0.834 0.05% 0.872 0.05% 1.004 0.06% 1.135 0.06% 1.389 0.08%
CEO - Shares - Amount $45.300 $45.093 $46.436 $36.072 $74.908 $76.061 $77.742 $87.369 $108.824 22.35%
Options - percentage 0.08% 1.698 0.09% 2.056 0.11% 2.290 0.13% 2.309 0.13% 2.490 0.14% 2.635 0.15% 2.827 0.16% 2.522 0.14%
Options - amount $114.849 $124.004 $154.603 $134.629 $207.410 $217.061 $204.097 $217.586 $197.606 -10.79%
Reuters Options Value
Clark, William Edmund
CEO - Shares - Amount
Options - percentage
Options - amount
Reuters Options Value
Tran, Kelvin Vi Luan 0.011 0.00% 0.017 0.00% 0.017 0.00% 0.017 0.00% 0.027 0.00%
CFO - Shares - Amount $0.975 $1.512 $1.343 $1.335 $2.080 53.05%
Options - percentage 0.195 0.01% 0.184 0.01% 0.220 0.01% 0.268 0.02% 0.304 0.02%
Options - amount $17.518 $16.073 $17.023 $20.612 $23.794 13.39%
Ahmed, Riaz 0.02% 0.399 0.02% 0.409 0.02% 0.351 0.02% 0.351 0.02% 0.437 0.02% 0.437 0.02% 0.470 0.03% 0.470 0.03% was Office in 2015, now
CFO - Shares - Amount $29.307 $29.171 $30.794 $20.645 $31.555 $38.071 $33.823 $36.202 $36.855 CFO 0.00%
Options - percentage 0.04% 0.749 0.04% 0.806 0.04% 0.738 0.04% 0.810 0.04% 0.840 0.05% 0.986 0.06% 1.038 0.06% 1.159 0.07% Now Group Head, 2022
Options - amount $52.848 $54.703 $60.583 $43.408 $72.781 $73.279 $76.357 $79.869 $90.852 Last update Dec 2024 11.73%
Bambawale, Ajai 0.003 0.00% 0.003 0.00% 0.003 0.00% 0.003 0.00% 0.003 0.00% 0.003 0.00% 0.003 0.00%
Officer - Shares - Amount $0.224 $0.177 $0.276 $0.271 $0.240 $0.242 $0.249 0.92%
Options - percentage 0.163 0.01% 0.189 0.01% 0.240 0.01% 0.231 0.01% 0.293 0.02% 0.355 0.02% 0.403 0.02%
Options - amount $12.238 $11.128 $21.601 $20.160 $22.692 $27.304 $31.573 13.58%
Hooper, Barbara Ann 0.050 0.00% 0.059 0.00%
Officer - Shares - Amount $3.862 $4.657 18.44%
Options - percentage 0.282 0.02% 0.307 0.02%
Options - amount $21.687 $24.070 9.02%
Chun, Raymond 0.000 0.00% 0.006 0.00% 0.012 0.00%
Officer - Shares - Amount $0.004 $0.480 $0.958 96.28%
Options - percentage 0.124 0.01% 0.223 0.01% 0.228 0.01%
Options - amount $9.640 $17.130 $17.854 2.38%
Ferguson, Brian Charles 0.005 0.00% 0.005 0.00% 0.005 0.00% 0.005 0.00% 0.005 0.00%
Director - Shares - Amount $0.411 $0.399 $0.354 $0.352 $0.358 0.00%
Options - percentage 0.025 0.00% 0.029 0.00% 0.032 0.00% 0.037 0.00% 0.041 0.00%
Options - amount $2.248 $2.521 $2.475 $2.812 $3.204 11.91%
Brinkley, Amy W. 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00%
Director - Shares - Amount $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 #DIV/0!
Options - percentage 0.056 0.00% 0.065 0.00% 0.070 0.00% 0.073 0.00% 0.079 0.00% 0.087 0.00%
Options - amount $3.276 $5.806 $6.094 $5.655 $6.107 $6.798 9.34%
Goggins, Colleen A. 0.009 0.00% 0.009 0.00% 0.009 0.00%
Director - Shares - Amount $0.682 $0.677 $0.690 0.00%
Options - percentage 0.050 0.00% 0.056 0.00% 0.067 0.00%
Options - amount $3.866 $4.325 $5.224 18.65%
MacGibbon, Alan N. 0.004 0.00% 0.004 0.00%
Chairman - Shares - Amt $0.314 $0.319 0.00%
Options - percentage 0.063 0.00% 0.074 0.00%
Options - amount $4.845 $5.781 17.21%
Levitt, Brian 0.00% 0.030 0.00% 0.030 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% Last filed Dec 2022
Chairman - Shares - Amt $2.201 $2.191 $2.256 $0.000 $0.000 $0.000 $0.000 $0.000 #DIV/0!
Options - percentage 0.00% 0.081 0.00% 0.092 0.01% 0.099 0.01% 0.115 0.01% 0.125 0.01% 0.130 0.01% 0.140 0.01%
Options - amount $5.313 $5.935 $6.898 $5.835 $10.327 $10.874 $10.091 $10.743 9.66%
Increase in O/S Shares 0.26% 3.000 0.16% 2.900 0.16% 2.300 0.13% 1.500 0.08% 2.800 0.15% 1.800 0.10% 1.200 0.07% 1.700 0.10%
due to SO $298.214 $220.110 $211.787 $172.983 $88.170 $251.552 $156.942 $92.952 $130.849
Book Value $186.000 $148.000 $152.000 $124.000 $79.000 $165.000 $120.000 $83.000 $112.000
Insider Buying -$0.023 -$0.185 $0.000 -$0.061 -$0.607 -$0.852 -$1.000 $0.000 -$0.057
Insider Selling $16.460 $68.028 $25.664 $37.821 $4.278 $39.785 $5.830 $8.748 $0.000
Net Insider Selling $16.436 $67.843 $25.664 $37.760 $3.671 $38.933 $4.830 $8.748 -$0.057
% of Market Cap 0.05% 0.05% 0.02% 0.04% 0.00% 0.02% 0.00% 0.01% 0.00%
Directors 14 11 14 13 15 16 16 16
Women 36% 5 36% 3 27% 5 36% 5 38% 6 40% 7 44% 7 44% 7 44%
Minorities 14% 2 14% 1 9% 2 14% 2 15% 2 13% 4 25% 3 19% 3 19%
53.62% 544 48.87% 662 48.09% 20 39.85% 20 43.55% 20 43.55% 20 43.05% 20 44.97% 20 43.41%
Institutions -402 54.06% 900.446 49.19% 880.272 48.57% 725.268 40.01% 790.754 43.63% 790.754 43.63% 783.779 43.75% 805.361 44.96% 759.773 43.41%
Holding 53.13% 3.12% 18.988 2.15% 7.331 0.84% 7.713 1.07% 5.283 0.67% 5.283 0.67% 21.855 2.87% -3.728 -0.46% 32.838 4.52%
On Jan 09 2014 NASDAQ 881.459 NASDAQ 872.941 NASDAQ 717.556 Top 20 MS 785.471 Top 20 MS 785.471 Top 20 MS 761.924 Top 20 MS 809.090 Top 20 MS 726.934 Top 20 MS
NASDAQ
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