This report should not be construed as providing investment advice. It is for educational purposes only.  Before making any investment decision, you should always do your own research or consult a investment professional. Estimates Estimates Estimates
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet. Q1 2024
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TMX Group Ltd TSX: X OTC: TMXXF https://www.tmx.com/ Fiscal Yr: Dec 31
Year 12/31/11 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 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 5/30/23
Split re-organzed 5
$1,240.9 <-12 mths 3.92%
Revenue* $673.5 $294.5 $700.5 $717.3 $717.0 $742.0 $668.9 $817.1 $806.9 $865.1 $980.7 $1,116.6 $1,194.1 $1,413 $1,500 $1,583 70.46% <-Total Growth 10 Revenue 2012 is
Increase 17.04% -56.27% 137.86% 2.40% -0.04% 3.49% -9.85% 22.16% -1.25% 7.21% 13.36% 13.86% 6.94% 18.33% 6.16% 5.53% 5.48% <-IRR #YR-> 10 Revenue 70.46%
5 year Running Average $552.6 $526.6 $560.1 $592.3 $620.6 $634.3 $709.1 $732.5 $750.4 $780.0 $827.7 $917.3 $992.7 $1,113.9 $1,240.9 $1,361.3 7.88% <-IRR #YR-> 5 Revenue 46.14%
Revenue per Share $1.80 $1.10 $2.59 $2.64 $2.64 $2.70 $2.42 $2.93 $2.87 $3.07 $3.51 $4.01 $4.32 $5.11 $5.42 $5.72 5.89% <-IRR #YR-> 10 5 yr Running Average 77.25%
Increase 16.61% -39.29% 136.31% 2.02% -0.18% 2.30% -10.44% 21.27% -2.03% 7.08% 14.21% 14.27% 7.63% 18.33% 6.16% 5.53% 6.27% <-IRR #YR-> 5 5 yr Running Average 35.53%
5 year Running Average $1.51 $1.48 $1.71 $1.94 $2.15 $2.33 $2.60 $2.66 $2.71 $2.80 $2.96 $3.28 $3.56 $4.00 $4.47 $4.92 5.25% <-IRR #YR-> 10 Revenue per Share 66.74%
P/S (Price/Sales) Med 4.59 8.57 3.85 4.12 3.49 4.03 5.99 5.43 6.61 7.52 7.51 6.62 6.75 6.79 0.00 0.00 8.06% <-IRR #YR-> 5 Revenue per Share 47.37%
P/S (Price/Sales) Close 4.62 9.26 3.94 3.83 2.72 5.30 5.83 4.83 7.84 8.27 7.31 6.66 7.42 7.91 7.45 6.99 7.62% <-IRR #YR-> 10 5 yr Running Average 108.35%
*Revenue in M CDN $  P/S Med 20 yr  6.30 15 yr  5.43 10 yr  6.24 5 yr  7.42 26.65% Diff M/C 5.95% <-IRR #YR-> 5 5 yr Running Average 33.49%
-$700.5 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $1,194.1
-$817.1 $0.0 $0.0 $0.0 $0.0 $1,194.1
-$560.1 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $992.7
-$732.5 $0.0 $0.0 $0.0 $0.0 $992.7
-$2.59 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.32
-$2.93 $0.00 $0.00 $0.00 $0.00 $4.32
-$1.71 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.56
-$2.66 $0.00 $0.00 $0.00 $0.00 $3.56
$408.7 <-12 mths 0.22%
$1.48 <-12 mths 1.37%
Adjusted Net Income  $2.2 $20.0 $182.9 $208.6 $197.9 $245.0 $259.1 $289.4 $300.2 $334.9 $401.2 $399.1 $407.8 66.45% <-Total Growth 10 Adjusted Net Income 
Diluted Calc. $1.42 $1.43 $1.46
Pre-split '23 $0.03 $0.95 $3.38 $3.84 $3.64 $4.49 $4.69 $5.20 $5.36 $5.93 $7.14 $7.16
Adjusted EPS Basic $0.01 $0.19 $0.68 $0.77 $0.73 $0.90 $0.94 $1.04 $1.07 $1.19 $1.43 $1.43 $1.47 63.70% <-Total Growth 10 Adjusted EPS Basic
Pre-split '23 $0.03 $0.95 $3.38 $3.84 $3.64 $4.47 $4.65 $5.16 $4.38 $5.88 $7.10 $7.13
AEPS* Dilued $0.01 $0.19 $0.68 $0.77 $0.73 $0.89 $0.93 $1.03 $0.88 $1.18 $1.42 $1.43 $1.46 $1.59 $1.79 $1.99 63.31% <-Total Growth 10 AEPS* Dilued
Increase -98.71% 3066.67% 255.79% 13.61% -5.21% 22.80% 4.03% 10.97% -15.12% 34.25% 20.75% 0.42% 2.38% 8.90% 12.58% 11.17% 10 0 10 Years of Data, EPS P or N 100.00%
AEPS Yield 0.07% 1.87% 6.62% 7.59% 10.17% 6.25% 6.60% 7.30% 3.90% 4.62% 5.54% 5.34% 4.56% 3.94% 4.43% 4.98% 8.00% <-IRR #YR-> 10 AEPS 115.98%
5 year Running Average $0.40 $0.34 $0.37 $0.42 $0.47 $0.65 $0.80 $0.87 $0.89 $0.98 $1.09 $1.19 $1.27 $1.41 $1.54 $1.65 7.19% <-IRR #YR-> 5 AEPS 41.47%
Payout Ratio 5333.33% 168.42% 47.34% 41.67% 43.96% 36.91% 41.94% 43.41% 56.62% 46.26% 42.39% 46.56% 48.49% 47.17% 42.46% 38.19% 13.10% <-IRR #YR-> 10 5 yr Running Average 242.56%
5 year Running Average 1115.64% 1136.61% 1134.77% 1131.37% 1126.94% 67.66% 42.36% 41.58% 44.57% 45.03% 46.12% 47.05% 48.07% 46.18% 45.42% 44.58% 7.88% <-IRR #YR-> 5 5 yr Running Average 46.09%
Price/AEPS Median 1379.33 49.41 14.73 14.18 12.63 12.16 15.57 15.42 21.64 19.66 18.56 18.62 19.96 21.83 -0.01 0.00 17.06 <-Median-> 10 Price/AEPS Median
Price/AEPS High 1506.67 43.56 16.79 15.80 15.15 16.23 17.15 17.35 27.23 24.23 20.00 19.98 21.95 23.95 0.00 0.00 18.66 <-Median-> 10 Price/AEPS High
Price/AEPS Low 1252.00 55.25 12.66 12.57 10.10 8.08 13.99 13.49 16.06 15.08 17.11 17.27 17.97 19.70 0.00 0.00 14.53 <-Median-> 10 Price/AEPS Low
Price/AEPS Close 1389.67 53.39 15.10 13.18 9.83 16.00 15.15 13.71 25.67 21.62 18.06 18.72 21.95 25.41 22.57 20.10 17.03 <-Median-> 10 Price/AEPS Close
Trailing P/AEPS Close 17.89 1690.67 53.72 14.97 9.32 19.65 15.76 15.21 21.79 29.03 21.81 18.80 22.48 27.67 25.41 22.35 19.23 <-Median-> 10 Trailing P/AEPS Close
Median Values DPR 10 Yrs 43.68% 5 Yrs   46.56% P/CF 5 Yrs   in order 19.66 21.95 17.11 21.62 29.26% Diff M/C DPR 75% to 95% best
* Adjusted Earnings per Share
-$0.68 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.46
-$1.03 $0.00 $0.00 $0.00 $0.00 $1.46
-$0.37 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.27
-$0.87 $0.00 $0.00 $0.00 $0.00 $1.27
$1.46 <-12 mths 14.06%
Difference Basic and Diluted 0.31% 0.00% 0.00% 0.00% 0.00% 0.56% 0.90% 0.78% 0.90% 1.01% 0.66% 0.51% 0.00% 0.01 <-Median-> 10 Difference Basic and Diluted
Pre-split '23 $3.18 $0.73 $2.29 $1.85 -$0.96 $3.60 $6.66 $5.14 $4.42 $4.96 $6.03 $9.74
EPS Basic $0.64 $0.15 $0.46 $0.37 -$0.19 $0.72 $1.33 $1.03 $0.88 $0.99 $1.21 $1.95 $1.28 179.48% <-Total Growth 10 EPS Basic
Pre-split '03
Pre-split '23 $3.17 $0.73 $2.29 $1.85 -$0.96 $3.58 $6.60 $5.10 $4.38 $4.91 $5.99 $9.69
EPS Diluted* $0.63 $0.15 $0.46 $0.37 -$0.19 $0.72 $1.32 $1.02 $0.88 $0.98 $1.20 $1.94 $1.28 $1.44 $1.57 $1.65 179.48% <-Total Growth 10 EPS Diluted
Increase 20.08% -76.97% 213.70% -19.21% -151.89% 472.92% 84.36% -22.73% -14.12% 12.10% 22.00% 61.77% -33.95% 12.66% 8.53% 5.18% 9 1 10 Years of Data, EPS P or N 90.00%
Earnings Yield 7.6% 1.4% 4.5% 3.7% -2.7% 5.0% 9.4% 7.2% 3.9% 3.9% 4.7% 7.3% 4.0% 3.6% 3.9% 4.1% 10.82% <-IRR #YR-> 10 Earnings per Share 179.48%
5 year Running Average $0.47 $0.42 $0.41 $0.43 $0.28 $0.30 $0.53 $0.65 $0.75 $0.98 $1.08 $1.20 $1.25 $1.37 $1.48 $1.57 4.65% <-IRR #YR-> 5 Earnings per Share 25.49%
10 year Running Average $0.36 $0.36 $0.39 $0.40 $0.35 $0.39 $0.48 $0.53 $0.59 $0.63 $0.69 $0.87 $0.95 $1.06 $1.23 $1.33 11.85% <-IRR #YR-> 10 5 yr Running Average 206.35%
* ESP per share (Cdn GAAP) P/S 10 yr  0.70 5 yr  1.08 14.17% <-IRR #YR-> 5 5 yr Running Average 94.00%
-$0.46 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.28
-$1.02 $0.00 $0.00 $0.00 $0.00 $1.28
-$0.41 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.25
-$0.65 $0.00 $0.00 $0.00 $0.00 $1.25
Dividend Estimates $0.75 $0.79 $0.85 Estimate Dividend Estimates
Increase 12.74% 5.53% 7.59% Estimate Increase
Payout Ratio EPS 58.48% 54.79% 54.31% Estimate Payout Ratio EPS
Pre-split '23
Special Dividend $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 <-Median-> 10 Special Dividends
Pre-split '23 $1.60 $1.60 $1.60 $1.60 $1.60 $1.65 $1.95 $2.24 $2.48 $2.72 $3.01 $3.32
Dividend* $0.32 $0.32 $0.32 $0.32 $0.32 $0.33 $0.39 $0.45 $0.50 $0.54 $0.60 $0.66 $0.71 $0.75 $0.76 $0.76 121.25% <-Total Growth 10 Dividends
Increase 3.90% 0.00% 0.00% 0.00% 0.00% 3.13% 18.18% 14.87% 10.71% 9.68% 10.66% 10.30% 6.63% 5.93% 1.33% 0.00% 14 0 20 Years of data, Count P, N 70.00%
Average Increases 5 Year Running 4.07% 1.04% 1.04% 1.04% 0.78% 0.63% 4.26% 7.24% 9.38% 11.31% 12.82% 11.24% 9.60% 8.64% 6.97% 4.84% 8.31% <-Median-> 10 Average Incr 5 Year Running
Dividends 5 Yr Running $0.31 $0.31 $0.31 $0.32 $0.32 $0.32 $0.34 $0.36 $0.40 $0.44 $0.50 $0.55 $0.60 $0.65 $0.70 $0.73 91.73% <-Total Growth 10 Dividends 5 Yr Running
Yield H/L Price 3.87% 3.41% 3.21% 2.94% 3.48% 3.04% 2.69% 2.82% 2.62% 2.35% 2.28% 2.50% 2.43% 2.16% 2.65% <-Median-> 10 Yield H/L Price Item
Yield on High  Price 3.54% 3.87% 2.82% 2.64% 2.90% 2.27% 2.45% 2.50% 2.08% 1.91% 2.12% 2.33% 2.21% 1.97% 2.30% <-Median-> 10 Yield on High  Price EPS
Yield on Low Price 4.26% 3.05% 3.74% 3.32% 4.35% 4.57% 3.00% 3.22% 3.53% 3.07% 2.48% 2.70% 2.70% 2.39% 3.14% <-Median-> 10 Yield on Low Price AEPS
Yield on Close Price 3.84% 3.15% 3.14% 3.16% 4.47% 2.31% 2.77% 3.17% 2.21% 2.14% 2.35% 2.49% 2.21% 1.86% 1.88% 1.90% 2.42% <-Median-> 10 Yield on Close Price CFPS
Payout Ratio EPS 50.47% 219.18% 69.87% 86.49% -166.67% 46.09% 29.55% 43.92% 56.62% 55.40% 50.25% 34.26% 55.31% 52.01% 48.56% 46.17% 48.17% <-Median-> 10 DPR EPS FCF 
DPR EPS 5 Yr Running 64.92% 74.66% 76.76% 74.34% 112.99% 107.48% 62.87% 55.91% 53.05% 44.93% 45.96% 45.79% 48.04% 47.78% 46.94% 46.27% 54.48% <-Median-> 10 DPR EPS 5 Yr Running
Payout Ratio CFPS 39.35% -113.04% 34.58% 34.71% 34.77% 28.88% 39.04% 36.00% 40.54% 37.27% 38.11% 41.91% 37.31% 37.50% 34.23% 31.80% 37.29% <-Median-> 10 DPR CF
DPR CF 5 Yr Running 44.72% 62.45% 56.95% 50.72% 48.52% 44.38% 34.22% 34.58% 35.88% 36.38% 38.12% 38.83% 38.92% 38.35% 37.54% 36.09% 38.48% <-Median-> 10 DPR CF 5 Yr Running
Payout Ratio CFPS WC 32.26% 77.57% 32.30% 25.30% 27.65% 23.78% 28.65% 27.96% 29.90% 30.65% 29.00% 29.03% 29.92% 37.50% 34.23% 31.80% 28.83% <-Median-> 10 DPR CF WC
DPR CF WC 5 Yr Running 41.57% 43.16% 39.47% 34.04% 33.21% 30.89% 27.27% 26.70% 27.68% 28.36% 29.27% 29.30% 29.66% 31.11% 31.82% 32.34% 29.28% <-Median-> 10 DPR CF WC 5 Yr Running
Median Values 10 Yr Med 10 Yr Cl 2.65% 2.42% 5 Yr Med 5 Yr Cl 2.43% 2.21% 5 Yr Med Payout 55.31% 38.11% 29.90% 9.58% <-IRR #YR-> 5 Dividends 58.04%
* Dividends per share  10 Yr Med and Cur. -29.14% -22.17% 5 Yr Med and Cur. -22.57% -14.84% Last Div Inc ---> $0.180 $0.190 5.56% 8.27% <-IRR #YR-> 10 Dividends 121.25%
Dividends Growth 15 5.80% <-IRR #YR-> 15 Dividends 132.89%
Dividends Growth 20 12.27% <-IRR #YR-> 20 Dividends #DIV/0!
Dividends Growth 5 -$0.45 $0.00 $0.00 $0.00 $0.00 $0.71 Dividends Growth 5
Dividends Growth 10 -$0.32 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.71 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 $0.71 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 $0.71 Dividends Growth 20
Historical Dividends Historical High Div 5.80% Low Div 1.91% 10 Yr High 4.55% 10 Yr Low 1.93% Med Div 2.82% Close Div 2.85% Historical Dividends
High/Ave/Median Values Curr diff Exp. -67.57% Exp -1.51% Exp. -58.66% -2.53% Exp. -33.29% Exp. -34.07% High/Ave/Median 
Future Dividend Yield Div Yd 2.97% earning in 5 Years at IRR of 9.58% Div Inc. 58.04% Future Dividend Yield
Future Dividend Yield Div Yd 4.70% earning in 10 Years at IRR of 9.58% Div Inc. 149.75% Future Dividend Yield
Future Dividend Yield Div Yd 7.43% earning in 15 Years at IRR of 9.58% Div Inc. 294.70% Future Dividend Yield
Div Paid $1.20 earning in 5 Years at IRR of 9.58% Div Inc. 58.04% Future Dividend Paid
Div Paid $1.90 earning in 10 Years at IRR of 9.58% Div Inc. 149.75% Future Dividend Paid Yr
Div Paid $3.00 earning in 15 Years at IRR of 9.58% Div Inc. 294.70% Future Dividend Paid 5
5
Total Div $4.60 over 5 Years at IRR of 9.58% Div Cov. 11.39% Dividend Covering Cost 5
Total Div $10.67 over 10 Years at IRR of 9.58% Div Cov. 26.42% Dividend Covering Cost 5
Total Div $20.27 over 15 Years at IRR of 9.58% Div Cov. 50.17% Dividend Covering Cost 5
5
Yield if held 5 years 3.32% 3.35% 4.30% 4.98% 4.94% 3.99% 4.15% 4.50% 4.55% 5.92% 5.54% 4.59% 4.45% 3.96% 3.29% 2.88% 4.57% <-Median-> 10 Paid Median Price
Yield if held 10 years 9.51% 9.99% 6.51% 4.37% 3.42% 4.08% 6.02% 7.73% 8.40% 7.27% 7.07% 7.11% 6.88% 8.27% 6.99% 6.79% <-Median-> 10 Paid Median Price 10
Yield if held 15 years 11.59% 13.99% 10.10% 7.43% 6.24% 6.95% 9.51% 11.68% 11.73% 9.18% 9.51% <-Median-> 7 Paid Median Price 10
Yield if held 20 years 19.73% 22.11% 15.27% 10.38% 7.88% 20.92% <-Median-> 2 Paid Median Price 10
10
Cost covered if held 5 years 15.96% 16.28% 21.12% 24.74% 24.70% 19.45% 17.90% 18.16% 18.21% 24.02% 22.82% 19.02% 18.94% 17.24% 15.07% 13.82% 19.24% <-Median-> 10 Paid Median Price 10
Cost covered if held 10 years 88.86% 85.56% 59.93% 42.13% 32.64% 33.85% 45.41% 55.64% 58.77% 49.42% 47.24% 48.43% 48.21% 61.92% 56.34% 47.83% <-Median-> 10 Paid Median Price 10
Cost covered if held 15 years 138.78% 142.01% 100.32% 72.30% 58.34% 62.66% 85.89% 106.54% 112.55% 93.43% 85.89% <-Median-> 7 Paid Median Price
Cost covered if held 20 years 220.62% 236.13% 166.84% 119.89% 96.08% 228.38% <-Median-> 2 Paid Median Price
Yr  Item Tot. Growth
Revenue Growth  $817.1 $806.9 $865.1 $980.7 $1,116.6 $1,194.1 $1,241 <-12 mths 3.92% 46.14% <-Total Growth 5 Revenue Growth  46.14%
AEPS Growth $1.03 $0.88 $1.18 $1.42 $1.43 $1.46 $1.48 <-12 mths 1.37% 41.47% <-Total Growth 5 AEPS Growth 41.47%
Net Income Growth $286.0 $247.6 $279.7 $338.5 $542.7 $356.0 $407 <-12 mths 14.19% 24.48% <-Total Growth 5 Net Income Growth 24.48%
Cash Flow Growth $347.1 $344.0 $410.9 $441.4 $441.1 $524.9 $553 <-12 mths 5.40% 51.22% <-Total Growth 5 Cash Flow Growth 51.22%
Dividend Growth $0.45 $0.50 $0.54 $0.60 $0.66 $0.71 $0.75 <-12 mths 5.93% 58.04% <-Total Growth 5 Dividend Growth 58.04%
Stock Price Growth $14.15 $22.49 $25.43 $25.65 $26.70 $32.05 $40.40 <-12 mths 26.05% 126.57% <-Total Growth 5 Stock Price Growth 126.57%
Revenue Growth  $700.5 $717.3 $717.0 $742.0 $668.9 $817.1 $806.9 $865.1 $980.7 $1,116.6 $1,194.1 $1,413 <-this year 18.33% 70.46% <-Total Growth 10 Revenue Growth  70.46%
AEPS Growth $0.68 $0.77 $0.73 $0.89 $0.93 $1.03 $0.88 $1.18 $1.42 $1.43 $1.46 $1.59 <-this year 8.90% 115.98% <-Total Growth 10 AEPS Growth 115.98%
Net Income Growth $123.7 $54.6 -$52.3 $196.4 $368.0 $286.0 $247.6 $279.7 $338.5 $542.7 $356.0 $416 <-this year 16.85% 187.79% <-Total Growth 10 Net Income Growth 187.79%
Cash Flow Growth $250.4 $250.4 $250.3 $314.4 $276.6 $347.1 $344.0 $410.9 $441.4 $441.1 $524.9 $553 <-this year 5.40% 109.62% <-Total Growth 10 Cash Flow Growth 109.62%
Dividend Growth $0.32 $0.32 $0.32 $0.33 $0.39 $0.45 $0.50 $0.54 $0.60 $0.66 $0.71 $0.79 <-this year 11.58% 121.25% <-Total Growth 10 Dividend Growth 121.25%
Stock Price Growth $10.21 $10.12 $7.16 $14.30 $14.09 $14.15 $22.49 $25.43 $25.65 $26.70 $32.05 $40.40 <-this year 26.05% 214.03% <-Total Growth 10 Stock Price Growth 214.03%
Dividends on Shares $31.36 $31.36 $32.34 $38.22 $43.90 $48.61 $53.31 $59.00 $65.07 $69.38 $73.50 $74.48 $74.48 $472.56 No of Years 10 Total Divs 12/31/13
Paid  $1,000.19 $991.76 $701.48 $1,401.79 $1,380.62 $1,386.31 $2,204.02 $2,491.94 $2,513.70 $2,616.60 $3,140.90 $3,959.20 $3,959.20 $3,920.00 $3,140.90 No of Years 10 Worth $10.21
Total $3,613.46
Based on AEPS $0.66 $6.69 $12.74 $13.60 $12.96 $14.61 $15.51 $16.78 $15.66 $18.42 $20.59 $21.44 $22.09 $22.85 $24.24 $25.56 73.35% <-Total Growth 10 Graham Price AEPS
Increase -86.59% 917.28% 90.37% 6.78% -4.75% 12.77% 6.12% 8.19% -6.65% 17.64% 11.73% 4.13% 3.03% 3.46% 6.10% 5.44% 6.45% <-Median-> 10 Graham Price
Price/GP Ratio Med 12.58 1.40 0.78 0.80 0.71 0.74 0.93 0.95 1.21 1.25 1.28 1.24 1.32 1.52 1.08 <-Median-> 10 Price/GP Ratio Med
Price/GP Ratio High 13.74 1.24 0.89 0.89 0.85 0.99 1.03 1.07 1.52 1.55 1.38 1.33 1.45 1.67 1.20 <-Median-> 10 Price/GP Ratio High
Price/GP Ratio Low 11.42 1.57 0.67 0.71 0.57 0.49 0.84 0.83 0.90 0.96 1.18 1.15 1.19 1.37 0.87 <-Median-> 10 Price/GP Ratio Low
Price/GP Ratio Close 12.67 1.52 0.80 0.74 0.55 0.98 0.91 0.84 1.44 1.38 1.25 1.25 1.45 1.77 1.67 1.56 1.11 <-Median-> 10 Price/GP Ratio Close
Prem/Disc Close 1167.39% 51.57% -19.90% -25.61% -44.76% -2.12% -9.16% -15.69% 43.60% 38.01% 24.60% 24.56% 45.11% 76.80% 66.63% 56.47% 11.22% <-Median-> 10 Graham Price
Based on EPS 3 yrs trailing $5.60 $10.66 $10.24 $9.98 $8.65 $7.12 $8.80 $13.00 $16.96 $17.67 $17.00 $18.19 $21.49 $22.03 $18.80 $11.84 109.84% <-Total Growth 10 Graham Price
Increase 22.51% 90.22% -3.94% -2.53% -13.29% -17.77% 23.64% 47.81% 30.38% 4.20% -3.80% 7.05% 18.10% 2.53% -14.68% -37.03% 5.62% <-Median-> 10 Graham Price
Price/GP Ratio Med 1.48 0.88 0.97 1.09 1.06 1.53 1.65 1.22 1.12 1.31 1.55 1.46 1.36 1.58 1.33 <-Median-> 10 Price/GP Ratio Med
Price/GP Ratio High 1.61 0.78 1.11 1.22 1.27 2.04 1.81 1.38 1.41 1.61 1.67 1.57 1.49 1.73 1.53 <-Median-> 10 Price/GP Ratio High
Price/GP Ratio Low 1.34 0.98 0.84 0.97 0.85 1.02 1.48 1.07 0.83 1.00 1.43 1.35 1.22 1.42 1.04 <-Median-> 10 Price/GP Ratio Low
Price/GP Ratio Close 1.49 0.95 1.00 1.01 0.83 2.01 1.60 1.09 1.33 1.44 1.51 1.47 1.49 1.83 2.15 3.38 1.45 <-Median-> 10 Price/GP Ratio Close
Prem/Disc Close 40.43% -8.79% -0.32% 1.48% -16.19% 54.96% 28.63% 6.84% 35.34% 46.09% 45.76% 34.03% 51.07% 84.41% 95.29% 121.14% 34.69% <-Median-> 10 Graham Price
Graham No. EPS $6.76 $5.87 $10.49 $9.44 $9.24 $13.08 $18.48 $16.68 $15.66 $16.84 $18.91 $24.99 $20.68 $21.76 $22.67 $23.25 97.19% <-Total Growth 10 Graham Price EPS
Increase 29.54% -13.25% 78.76% -9.96% -2.17% 41.56% 41.28% -9.72% -6.11% 7.50% 12.31% 32.16% -17.25% 5.23% 4.18% 2.56% 2.67% <-Median-> 10 Graham Price
Price/GP Ratio Med 1.22 1.60 0.95 1.15 1.00 0.83 0.78 0.95 1.21 1.37 1.39 1.06 1.41 1.59 1.11 <-Median-> 10 Price/GP Ratio Med
Price/GP Ratio High 1.34 1.41 1.08 1.29 1.19 1.11 0.86 1.07 1.52 1.69 1.50 1.14 1.55 1.75 1.24 <-Median-> 10 Price/GP Ratio High
Price/GP Ratio Low 1.11 1.79 0.82 1.02 0.80 0.55 0.70 0.83 0.90 1.05 1.29 0.99 1.27 1.44 0.94 <-Median-> 10 Price/GP Ratio Low
Price/GP Ratio Close 1.23 1.73 0.97 1.07 0.77 1.09 0.76 0.85 1.44 1.51 1.36 1.07 1.55 1.86 1.78 1.72 1.08 <-Median-> 10 Price/GP Ratio Close
Prem/Disc Close 23.29% 72.91% -2.68% 7.17% -22.52% 9.37% -23.75% -15.19% 43.60% 51.03% 35.65% 6.84% 54.98% 85.65% 78.21% 72.05% 8.27% <-Median-> 10 Graham Price
Pre-split '23 $41.69 $50.72 $51.03 $50.60 $35.79 $71.52 $70.44 $70.73 $112.45 $127.14 $128.25
Price Close $8.34 $10.14 $10.21 $10.12 $7.16 $14.30 $14.09 $14.15 $22.49 $25.43 $25.65 $26.70 $32.05 $40.40 $40.40 $40.00 214.03% <-Total Growth 10 Stock Price
Increase 12.80% 21.66% 0.61% -0.84% -29.27% 99.83% -1.51% 0.41% 58.98% 13.06% 0.87% 4.09% 20.04% 26.05% 0.00% -0.99% 20.88 <-Median-> 10 CAPE (10 Yr P/E)
P/E 13.15 69.48 22.28 27.35 -37.28 19.98 10.67 13.87 25.67 25.89 21.41 13.78 25.04 28.02 25.81 24.30 17.77% <-IRR #YR-> 5 Stock Price 126.57%
Trailing P/E 15.79 16.00 69.90 22.10 19.35 -74.50 19.68 10.72 22.05 29.03 26.12 22.29 16.54 31.56 28.02 25.56 12.12% <-IRR #YR-> 10 Stock Price 214.03%
CAPE (10 Yr P/E) 19.04 21.35 21.33 21.61 23.99 23.23 19.64 19.41 20.15 21.55 22.30 19.61 20.21 21.02 20.72 21.21 20.85% <-IRR #YR-> 5 Price & Dividend 147.87%
Median 10, 5 Yrs  D.  per yr 2.72% 3.07% % Tot Ret 18.34% 14.75% T P/E $20.86 $22.29 P/E:  $20.69 $25.04 14.85% <-IRR #YR-> 10 Price & Dividend 261.28%
Price 15 D.  per yr 3.69% % Tot Ret 21.92% CAPE Diff 34.18% 13.13% <-IRR #YR-> 15 Stock Price 536.17%
Price  20 D.  per yr 3.37% % Tot Ret 24.13% 10.60% <-IRR #YR-> 20 Stock Price
Price 25 D.  per yr 6.89% % Tot Ret 33.33% 13.78% <-IRR #YR-> 21 Stock Price
Price & Dividend 15 16.81% <-IRR #YR-> 15 Price & Dividend 5735.61%
Price & Dividend 20 13.98% <-IRR #YR-> 20 Price & Dividend
Price & Dividend 25 20.67% <-IRR #YR-> 21 Price & Dividend
Price  5 -$14.15 $0.00 $0.00 $0.00 $0.00 $32.05 Price  5
Price 10 -$10.21 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $32.05 Price 10
Price & Dividend 5 -$14.15 $0.50 $0.54 $0.60 $0.66 $32.76 Price & Dividend 5
Price & Dividend 10 -$10.21 $0.32 $0.32 $0.33 $0.39 $0.45 $0.50 $0.54 $0.60 $0.66 $32.76 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 $32.05 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 $32.05 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 $32.05 Price 25
Price & Dividend 15 $0.32 $0.32 $0.32 $0.32 $0.32 $0.33 $0.39 $0.45 $0.50 $0.54 $0.60 $0.66 $32.76 Price & Dividend 15
Price & Dividend 20 $0.32 $0.32 $0.32 $0.32 $0.32 $0.33 $0.39 $0.45 $0.50 $0.54 $0.60 $0.66 $32.76 Price & Dividend 20
Price & Dividend 25 $0.32 $0.32 $0.32 $0.32 $0.32 $0.33 $0.39 $0.45 $0.50 $0.54 $0.60 $0.66 $32.76 Price & Dividend 25
Price H/L Median $8.28 $9.39 $9.96 $10.89 $9.19 $10.87 $14.48 $15.91 $18.96 $23.12 $26.35 $26.56 $29.14 $34.71 -0.99% 192.69% <-Total Growth 10 Stock Price
Increase 27.74% 13.42% 6.06% 9.42% -15.61% 18.21% 33.24% 9.90% 19.15% 21.93% 13.98% 0.78% 9.73% 19.10% 1.88% 11.34% <-IRR #YR-> 10 Stock Price 192.69%
P/E 13.05 64.29 21.74 29.44 -47.88 15.18 10.97 15.60 21.64 23.54 21.99 13.70 22.77 24.07 0.89% 12.86% <-IRR #YR-> 5 Stock Price 83.12%
Trailing P/E 15.67 14.81 68.19 23.79 24.85 -56.60 20.22 12.06 18.59 26.39 26.83 22.17 15.04 27.11 14.21% <-IRR #YR-> 10 Price & Dividend
P/E on Run. 5 yr Ave 17.45 22.52 24.31 25.50 32.46 36.27 27.09 24.60 25.35 23.52 24.42 22.08 23.22 25.37 15.82% <-IRR #YR-> 5 Price & Dividend
P/E on Run. 10 yr Ave 23.04 26.24 25.79 27.03 26.00 28.08 30.44 30.13 32.27 36.52 38.22 30.57 30.65 32.80 21.69 P/E Ratio Historical Median
Median 10, 5 Yrs D.  per yr 2.88% 2.96% % Tot Ret 20.23% 18.69% T P/E 21.19 22.17 P/E:  18.62 21.99 Count 22 Years of data
-$9.96 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $29.14
-$15.91 $0.00 $0.00 $0.00 $0.00 $29.14
-$9.96 $0.32 $0.32 $0.33 $0.39 $0.45 $0.50 $0.54 $0.60 $0.66 $29.85
-$15.91 $0.50 $0.54 $0.60 $0.66 $29.85
High Months Jun Feb Mar Jun May Dec May Aug Sep Jul Aug Dec Dec Jun 
Pre-split '23 $45.20 $41.38 $56.76 $60.69 $55.16 $72.55 $79.74 $89.52 $119.26 $142.50 $142.00
Price High $9.04 $8.28 $11.35 $12.14 $11.03 $14.51 $15.95 $17.90 $23.85 $28.50 $28.40 $28.49 $32.05 $38.08 182.33% <-Total Growth 10 Stock Price
Increase 20.57% -8.45% 37.17% 6.92% -9.11% 31.53% 9.91% 12.26% 33.22% 19.49% -0.35% -0.35% -0.35% -1.68% 10.94% <-IRR #YR-> 10 Stock Price 182.33%
P/E 14.26 56.68 24.79 32.81 -57.46 20.27 12.08 17.55 27.23 29.02 23.71 23.71 23.71 14.41 12.35% <-IRR #YR-> 5 Stock Price 79.01%
Trailing P/E 17.12 13.05 77.75 26.50 29.82 -75.57 22.27 13.56 23.38 32.53 28.92 28.92 28.92 23.31 24.89 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 27.71 28.92 P/E:  23.71 23.71 28.90 P/E Ratio Historical High
-$11.35 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $32.05
-$17.90 $0.00 $0.00 $0.00 $0.00 $32.05
Low Months Mar Oct Jun Feb Dec Feb Aug Dec Jan Mar Feb Feb Jan Jan
Price Low $7.51 $10.50 $8.56 $9.65 $7.35 $7.22 $13.01 $13.92 $14.07 $17.73 $24.30 $24.62 $26.23 $31.33 206.43% <-Total Growth 10 Stock Price
Increase 37.58% 39.75% -18.46% 12.73% -23.79% -1.77% 80.09% 7.01% 1.05% 26.06% 37.01% 1.33% 6.54% 19.44% 11.85% <-IRR #YR-> 10 Stock Price 206.43%
P/E 11.85 71.90 18.69 26.08 -38.30 10.09 9.86 13.65 16.06 18.06 20.28 12.70 20.49 21.73 13.51% <-IRR #YR-> 5 Stock Price 88.41%
Trailing P/E 14.23 16.56 58.63 21.07 19.88 -37.63 18.17 10.55 13.79 20.24 24.74 20.55 13.53 24.48 16.71 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 19.02 20.24 P/E:  14.85 18.06 10.24 P/E Ratio Historical Low
-$8.56 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $26.23
-$13.92 $0.00 $0.00 $0.00 $0.00 $26.23
$405 <-12 mths 3.32%
Dividend payment Calc $119.42 $86.02 $86.59 $86.90 $87.03 $90.79 $108.00 $124.97 $139.46 $153.14 $168.21 $184.86 $195.85 Dividend payment Calc
Free Cash Flow WSJ $201.70 $272.90 $212.10 $256.90 $254.90 $317.60 $362.80 $360.80 $434.40 115.37% <-Total Growth 8 Free Cash Flow WSJ, MS
Change 35.30% -22.28% 21.12% -0.78% 24.60% 14.23% -0.55% 20.40% 17.32% <-Median-> 8 Change Disagree
Free Cash Flow MS -$5.00 -$157.30 $266.50 $226.40 $226.60 $300.90 $237.00 $288.30 $286.40 $343.80 $390 $392 $460 $411 $504 $630 72.50% <-Total Growth 10 Free Cash Flow MS,Mrk S
Change -101.96% -3046.00% 269.42% -15.05% 0.09% 32.79% -21.24% 21.65% -0.66% 20.04% 13.44% 0.51% 17.27% -10.68% 22.84% 24.90% 9.78% <-IRR #YR-> 5 Free Cash Flow MS 59.45%
FCF/CF from Op Ratio -0.02 2.07 1.06 0.90 0.91 0.96 0.86 0.83 0.83 0.84 0.88 0.89 0.88 0.74 0.82 0.95 5.60% <-IRR #YR-> 10 Free Cash Flow MS 72.50%
Dividends paid $119.4 $86.0 $86.4 $86.8 $87.0 $90.20 $107.80 $124.70 $141.30 $141.30 $168.9 $185.1 $196.9 $207.47 $210.23 $210.23 127.89% <-Total Growth 10 Dividends paid
Percentage paid 38.39% 29.98% 45.49% 43.25% 49.34% 41.10% 43.31% 47.22% 42.83% 50.53% 41.68% 33.37% $0.43 <-Median-> 9 Percentage paid
5 Year Coverage 41.14% 41.56% 44.26% 44.77% 44.53% 45.07% 44.91% 42.14% 5 Year Coverage
Dividend Coverage Ratio 2.60 3.34 2.20 2.31 2.03 2.43 2.31 2.12 2.33 1.98 2.40 3.00 2.31 <-Median-> 9 Dividend Coverage Ratio
5 Year of Coverage 2.43 2.41 2.26 2.23 2.25 2.22 2.23 2.37 5 Year of Coverage
-$288 $0 $0 $0 $0 $460
-$267 $0 $0 $0 $0 $0 $0 $0 $0 $0 $460
Market Cap $3,112 $2,727 $2,762 $2,748 $1,947 $3,935 $3,901 $3,946 $6,324 $7,158 $7,167 $7,433 $8,866 $11,176 $11,176 $11,065 221.04% <-Total Growth 10 Market Cap 221.04%
Pre-split '23 74.83 21.10 54.12 54.33 54.38 54.81 55.73 56.09 56.57 56.95 56.47 55.99
Diluted # of Shares in Millions 374.16 105.49 270.60 271.67 271.89 274.05 278.65 280.47 282.85 284.75 282.37 279.97 279.04 278.05 3.12% <-Total Growth 10 Diluted
Change 0.55% -71.81% 156.50% 0.39% 0.08% 0.79% 1.68% 0.65% 0.85% 0.67% -0.83% -0.85% -0.33% -0.36% 0.01 <-Median-> 10 Change
Difference Diluted/Basic -0.3% -0.2% -0.1% -0.2% -0.1% -0.4% -0.8% -0.8% -0.9% -0.9% -0.7% -0.4% -0.3% -0.4% -0.56% <-Median-> 10 Difference Diluted/Basic
Pre-split '23 74.58 21.05 54.04 54.24 54.35 54.62 55.29 55.64 56.05 56.43 56.10 55.75
Basic # of Shares in Millions 372.88 105.24 270.21 271.21 271.73 273.08 276.43 278.18 280.23 282.13 280.49 278.73 278.15 276.84 2.94% <-Total Growth 10 Basic
Change 0.33% -71.78% 156.76% 0.37% 0.19% 0.50% 1.23% 0.63% 0.74% 0.68% -0.58% -0.63% -0.21% -0.47% 0.43% <-Median-> 10 Change
Difference Basic/Outstanding 0.1% 155.4% 0.1% 0.1% 0.1% 0.7% 0.2% 0.3% 0.3% -0.2% -0.4% -0.1% -0.6% -0.1% 0.11% <-Median-> 10 Difference Basic/Outstanding
$492.9 <-12 mths -6.10%
Pre-split '03
Pre-split '23 74.64 53.76 54.12 54.32 54.39 55.02 55.38 55.79 56.23 56.30 55.88
# of Share in Millions 373.20 268.82 270.58 271.58 271.96 275.11 276.92 278.95 281.17 281.51 279.41 278.40 276.62 276.62 276.62 276.62 0.22% <-IRR #YR-> 10 Shares 2.23%
Change 0.36% -27.97% 0.66% 0.37% 0.14% 1.16% 0.66% 0.73% 0.79% 0.12% -0.74% -0.36% -0.64% 0.00% 0.00% 0.00% -0.17% <-IRR #YR-> 5 Shares -0.84%
Cash Flow from Operations $M $303.5 -$76.1 $250.4 $250.4 $250.3 $314.4 $276.6 $347.1 $344.0 $410.9 $441.4 $441.1 $524.9 $553.2 $614.1 $661.1 109.62% <-Total Growth 10 Cash Flow
Increase 8.32% -125.07% 429.04% 0.00% -0.04% 25.61% -12.02% 25.49% -0.89% 19.45% 7.42% -0.07% 19.00% 5.40% 11.00% 7.66% S.O. S. Iss., Buy Backs
5 year Running Average $250.9 $191.3 $192.6 $201.7 $195.7 $197.9 $268.4 $287.8 $306.5 $338.6 $364.0 $396.9 $432.5 $474.3 $514.9 $558.9 124.57% <-Total Growth 10 CF 5 Yr Running
CFPS $0.81 -$0.28 $0.93 $0.92 $0.92 $1.14 $1.00 $1.24 $1.22 $1.46 $1.58 $1.58 $1.90 $2.00 $2.22 $2.39 105.05% <-Total Growth 10 Cash Flow per Share
Increase 7.93% -134.81% 426.90% -0.37% -0.18% 24.17% -12.60% 24.57% -1.67% 19.31% 8.23% 0.29% 19.76% 5.40% 11.00% 7.66% 7.68% <-IRR #YR-> 10 Cash Flow 109.62%
5 year Running Average $0.69 $0.50 $0.55 $0.63 $0.66 $0.73 $0.98 $1.05 $1.11 $1.21 $1.30 $1.42 $1.55 $1.70 $1.86 $2.02 8.62% <-IRR #YR-> 5 Cash Flow 51.22%
P/CF on Med Price 10.18 -33.16 10.76 11.82 9.99 9.51 14.50 12.79 15.50 15.84 16.68 16.76 15.36 17.35 0.00 0.00 7.44% <-IRR #YR-> 10 Cash Flow per Share 105.05%
P/CF on Closing Price 10.25 -35.83 11.03 10.98 7.78 12.52 14.10 11.37 18.38 17.42 16.24 16.85 16.89 20.20 18.20 16.74 8.81% <-IRR #YR-> 5 Cash Flow per Share 52.50%
35.33% Diff M/C 10.87% <-IRR #YR-> 10 CFPS 5 yr Running 180.56%
Excl.Working Capital CF $66.7 $187.0 $17.7 $93.1 $64.4 $67.3 $100.3 $99.8 $122.4 $88.8 $138.7 $195.6 $129.6 $0.0 $0.0 $0.0 8.18% <-IRR #YR-> 5 CFPS 5 yr Running 48.13%
CF fr Op $M WC $370.2 $110.9 $268.1 $343.5 $314.7 $381.7 $376.9 $446.9 $466.4 $499.7 $580.1 $636.7 $654.5 $553.2 $614.1 $661.1 144.13% <-Total Growth 10 Cash Flow less WC
Increase -0.96% -70.04% 141.75% 28.12% -8.38% 21.29% -1.26% 18.57% 4.36% 7.14% 16.09% 9.76% 2.80% -15.47% 11.00% 7.66% 9.34% <-IRR #YR-> 10 Cash Flow less WC 144.13%
5 year Running Average $271.6 $259.9 $267.9 $293.3 $281.5 $283.8 $337.0 $372.7 $397.3 $434.3 $474.0 $526.0 $567.5 $584.8 $607.7 $623.9 7.93% <-IRR #YR-> 5 Cash Flow less WC 46.45%
CFPS Excl. WC $0.99 $0.41 $0.99 $1.26 $1.16 $1.39 $1.36 $1.60 $1.66 $1.78 $2.08 $2.29 $2.37 $2.00 $2.22 $2.39 7.80% <-IRR #YR-> 10 CF less WC 5 Yr Run 111.84%
Increase -1.32% -58.41% 140.17% 27.65% -8.51% 19.90% -1.90% 17.71% 3.54% 7.01% 16.96% 10.15% 3.46% -15.47% 11.00% 7.66% 8.77% <-IRR #YR-> 5 CF less WC 5 Yr Run 52.25%
5 year Running Average $0.74 $0.72 $0.80 $0.93 $0.96 $1.04 $1.23 $1.35 $1.43 $1.56 $1.69 $1.88 $2.03 $2.10 $2.19 $2.25 9.09% <-IRR #YR-> 10 CFPS - Less WC 138.79%
P/CF on Med Price 8.34 22.75 10.05 8.61 7.94 7.83 10.64 9.93 11.43 13.02 12.69 11.61 12.32 17.35 0.00 0.00 8.11% <-IRR #YR-> 5 CFPS - Less WC 47.69%
P/O on Close 8.41 24.59 10.30 8.00 6.19 10.31 10.35 8.83 13.56 14.32 12.35 11.67 13.55 20.20 18.20 16.74 9.82% <-IRR #YR-> 10 CFPS 5 yr Running 155.16%
*Operational Cash Flow per share CF/-WC P/CF Med 10 yr 14.93 5 yr  15.84 P/CF Med 10 yr 11.03 5 yr  12.32 83.07% Diff M/C 8.46% <-IRR #YR-> 5 CFPS 5 yr Running 50.06%
-270.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 276.6 Shares
-279.0 0.0 0.0 0.0 0.0 276.6 Shares
-$250.4 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $524.9 Cash Flow
-$347.1 $0.0 $0.0 $0.0 $0.0 $524.9 Cash Flow
-$0.93 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.90 Cash Flow per Share
-$1.24 $0.00 $0.00 $0.00 $0.00 $1.90 Cash Flow per Share
-$0.55 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.55 CFPS 5 yr Running
-$1.05 $0.00 $0.00 $0.00 $0.00 $1.55 CFPS 5 yr Running
-$268.1 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $654.5 Cash Flow less WC
-$446.9 $0.0 $0.0 $0.0 $0.0 $654.5 Cash Flow less WC
-$267.9 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $567.5 CF less WC 5 Yr Run
-$372.7 $0.0 $0.0 $0.0 $0.0 $567.5 CF less WC 5 Yr Run
-$0.99 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.37 CFPS - Less WC
-$1.60 $0.00 $0.00 $0.00 $0.00 $2.37 CFPS - Less WC
-$0.80 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.03 CFPS 5 yr Running
-$1.35 $0.00 $0.00 $0.00 $0.00 $2.03 CFPS 5 yr Running
Maple Transactions $49.9
Maple Transactions -$105.0
Trade and other prepaid exp $3.5 $6.2 -$9.9 $12.2 -$9.5 -$11.8 -$11.2 -$0.2 -$4.0 -$19.7 -$4.3 -$41.8 got it on google by googling
Trade and other payables -$25.6 $28.1 -$29.8 $4.6 $1.5 $0.8 $23.4 -$14.1 $17.4 $4.8 -$57.9 $50.5 TMX group Google Finance
Share option plan
Provisions $6.1 -$4.2 -$6.9 -$0.6 $2.8 -$1.0
Deferred revenue -$33.5 $1.7 $2.3 $0.4 $7.7 -$2.8 -$0.2 -$2.8 $1.4 $7.6 -$7.3 $2.5
Other non-current assets -$6.30 -$0.40 $0.9 $0.6 $7.2 $11.00 -$2.50 $9.20 $1.8
Other Assets and Liabilities -$16.20 $6.90 -$8.40
Cash received on unwind -$1.20 $1.60
Cash Paid for Emplyee Defined B.. -$2.2 -$5.2 -$2.20 -$2.30
Interest Paid -$28.40
Interest Rec $2.60
Income taxes paid -$21.10 -$54.90 -$56.6 -$80.0 -$69.0 -$95.30 -$113.10 -$110.30 -$98.50 -$114.60 -$135.80 -$131.40
                       
Sum -$165.10 -$17.70 -$93.1 -$64.4 -$67.3 -$100.3 -$99.8 -$122.4 -$88.8 -$138.7 -$195.6 -$129.6
Google -->TD -$17.70 -$62.20 -$62.10 -$100 -$100 -$122 -$89 -$139 -$196 -$130
Difference $0.00 -$2.20 -$5.20 $0 $0 $0 $0 $0 $0 $0
TD 2017 -->2022 -$25 -$95 -$64 -$67 -$122 -$88
Difference $7 $2 $0 $0
OPM 45.06% -25.84% 35.75% 34.91% 34.91% 42.37% 41.35% 42.48% 42.63% 47.50% 45.01% 39.50% 43.96% 39.15% 22.97% <-Total Growth 10 OPM
Increase -7.45% -157.34% -238.33% -2.34% 0.00% 21.38% -2.41% 2.73% 0.36% 11.41% -5.24% -12.23% 11.27% -10.93% Should increase  or be stable.
Diff from Ave 6.2% -160.9% -15.7% -17.7% -17.7% -0.1% -2.5% 0.1% 0.5% 12.0% 6.1% -6.9% 3.6% -7.7% 0.00 <-Median-> 10 OPM
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 42.43% 5 Yrs 43.96% should be zero,  it is a check  on calculations
$667 <-12 mths 2.21%
EBITDA $462.0 $496.2 $578.3 $638.3 $652.5 $786.7 $847.8 $891.3 41.23% <-Total Growth 4 EBITDA Fr Mkt Sc
Change 7.40% 16.55% 10.38% 2.22% 20.57% 7.77% 5.13% 8.89% <-Median-> 5 Change
Margin 57.26% 57.36% 58.97% 57.16% 54.64% 55.68% 56.52% 56.30% 57.26% <-Median-> 0 Margin
Long Term Debt 1453.10% $969.40 $996.40 $648.20 $648.70 $547.60 $746.8 $747.1 $747.5 $997.1 $747.8 $448.5 $2,034.8 -116.14% <-Total Growth 10 Debt Type
Change 6571.25% 2.79% -34.95% 0.08% -15.59% 36.38% 0.04% 0.05% 33.39% -25.00% -40.02% 353.69% 0.05% <-Median-> 10 Change Lg Term R
Debt/Market Cap Ratio 35.10% 0.35 0.36 0.33 0.16 0.14 0.19 0.12 0.10 0.14 0.10 0.05 0.18 0.14 <-Median-> 10 Debt/Market Cap Ratio Intang/GW
Assets/Current Liabilities Ratio 146.80% 1.47 1.48 1.34 1.25 1.22 1.19 1.21 1.17 1.10 1.12 1.10 1.14 1.20 <-Median-> 10 Assets/Current Liabilities Liquidity
Debt to Cash Flow (Years) 387.14% 3.87 3.98 2.59 2.06 1.98 2.15 2.17 1.82 2.26 1.70 0.85 3.68 2.11 <-Median-> 10 Debt to Cash Flow (Years) Liq. + CF
Debt Ratio
Intangibles $919.0 $3,630.8 $3,513.1 $3,386.8 $4,399.7 $4,319.8 $5,067.6 $3,971.7 $3,391.5 $3,394.0 $3,461.1 $2,328.5 $2,329.4 -50.82% <-Total Growth 10 Intangibles Leverage
Goodwill $432.8 $1,321.0 $1,293.8 $1,263.5 $1,084.8 $1,074.5 $1,661.6 $1,648.6 $1,649.7 $1,653.7 $1,695.8 $1,768.7 $1,776.8 37.33% <-Total Growth 10 Goodwill D/E Ratio
Total $1,351.8 $4,951.8 $4,806.9 $4,650.3 $5,484.5 $5,394.3 $6,729.2 $5,620.3 $5,041.2 $5,047.7 $5,156.9 $4,097.2 $4,106.2 $7,137.4 17.06% <-Total Growth 10 Total
Change -10.07% 266.31% -2.93% -3.26% 17.94% -1.64% 24.75% -16.48% -10.30% 0.13% 2.16% -20.55% 0.22% 73.82% -0.76% <-Median-> 10 Change
Intangible/Market Cap Ratio 0.43 1.82 1.74 1.69 2.82 1.37 1.72 1.42 0.80 0.71 0.72 0.55 0.46 0.64 1.08 <-Median-> 0 Intangible/Market Cap Ratio
Current Assets $1,935.6 $8,965.3 $11,485.2 $10,160.3 $12,449.6 $17,689.1 $20,407.8 $26,485.3 $27,105.2 $30,839.5 $57,800.3 $50,262.5 $58,338.4 $43,363.0 407.94% <-Total Growth 10 Current Assets
Current Liabilities $1,898.3 $8,714.0 $11,236.8 $10,128.7 $12,663.1 $17,733.6 $21,008.7 $26,660.4 $26,660.4 $30,781.1 $57,519.0 $50,012.4 $58,564.7 $43,336.2 421.19% <-Total Growth 10 Current Liabilities
Liquidity Ratio 1.02 1.03 1.02 1.00 0.98 1.00 0.97 0.99 1.02 1.00 1.00 1.01 1.00 1.00 1.00 <-Median-> 10 Ratio
Liq. with CF aft div 1.11 1.01 1.04 1.02 1.00 1.01 0.98 1.00 1.02 1.01 1.01 1.01 1.00 1.01 1.01 <-Median-> 5 Ratio
Liq. CF re  Inv+Div  1.12 0.78 1.04 1.02 0.99 1.01 0.95 1.00 1.02 1.01 1.01 1.01 1.00 1.01 1.01 <-Median-> 5 Ratio
Cuurrent Debt 309.9 795.0 319.5 239.6 160.0 0.0 249.9 594.0 0.0 Cuurrent Debt
Liquidity Less C. Debt 1.02 1.01 1.01 1.03 1.01 1.00 1.01 1.01 1.00 1.01 <-Median-> 5 Ratio
Liq. with CF aft div 1.03 1.02 1.01 1.03 1.02 1.01 1.02 1.01 1.01 1.02 <-Median-> 5 Ratio
Assets $3,394.8 $14,042.9 $16,495.5 $14,964.1 $17,017.4 $22,201.4 $25,624.8 $31,657.9 $32,359.7 $36,098.6 $63,199.4 $55,983.1 $64,337.4 $49,330.5 290.03% <-Total Growth 10 Assets
Liabilities $2,172.8 $11,143.2 $13,524.7 $12,018.2 $14,199.1 $19,280.7 $22,442.0 $28,276.1 $28,860.6 $32,487.1 $59,493.3 $51,775.7 $60,015.7 $45,098.6 343.75% <-Total Growth 10 Liabilities
Debt Ratio 1.56 1.26 1.22 1.25 1.20 1.15 1.14 1.12 1.12 1.11 1.06 1.08 1.07 1.09 1.12 <-Median-> 10 Ratio
Estimates BVPS $16.00 $18.80 $18.10 Estimates Estimates BVPS
Estimate Book Value $4,426.0 $5,200.5 $5,006.9 Estimates Estimate Book Value
P/B Ratio (Close) 2.53 2.15 2.21 Estimates P/B Ratio (Close)
Difference from 10 year median 78.06% Diff M/C Estimates Difference from 10 yr med.
Total Book Value $1,222.0 $2,899.7 $2,970.8 $2,945.9 $2,818.3 $2,920.7 $3,182.8 $3,381.8 $3,499.1 $3,611.5 $3,706.1 $4,207.4 $4,321.7 $4,231.9 45.47% <-Total Growth 10 Book Value
NCI $25.5 $83.2 $83.0 $37.1 $30.3 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $220.2 $214.1 $194.6 NCI
Book Value $1,196.5 $2,816.5 $2,887.8 $2,908.8 $2,788.0 $2,920.7 $3,182.8 $3,381.8 $3,499.1 $3,611.5 $3,706.1 $3,987.2 $4,107.6 $4,037.3 $4,037.3 $4,037.3 42.24% <-Total Growth 10 Book Value
Book Value per share $3.21 $10.48 $10.67 $10.71 $10.25 $10.62 $11.49 $12.12 $12.44 $12.83 $13.26 $14.32 $14.85 $14.59 $14.59 $14.59 39.13% <-Total Growth 10 Book Value per Share
Change 39.74% 226.80% 1.86% 0.36% -4.29% 3.56% 8.26% 5.48% 2.65% 3.09% 3.39% 7.97% 3.68% -1.71% 0.00% 0.00% 40.19% P/B Ratio Current/Historical Median
P/B Ratio (Median) 2.58 0.90 0.93 1.02 0.90 1.02 1.26 1.31 1.52 1.80 1.99 1.85 1.96 2.38 0.00 0.00 1.97 P/B Ratio Historical Median
P/B Ratio (Close) 2.60 0.97 0.96 0.94 0.70 1.35 1.23 1.17 1.81 1.98 1.93 1.86 2.16 2.77 2.77 2.74 3.36% <-IRR #YR-> 10 Book Value 39.13%
Change -19.28% -62.77% -1.23% -1.20% -26.10% 92.96% -9.03% -4.80% 54.88% 9.68% -2.43% -3.59% 15.77% 28.25% 0.00% -0.99% 4.14% <-IRR #YR-> 5 Book Value 22.48%
Leverage (A/BK) 2.78 4.84 5.55 5.08 6.04 7.60 8.05 9.36 9.25 10.00 17.05 13.31 14.89 11.66 9.30 <-Median-> 10 A/BV See
Debt/Equity Ratio 1.78 3.84 4.55 4.08 5.04 6.60 7.05 8.36 8.25 9.00 16.05 12.31 13.89 10.66 8.30 <-Median-> 10 Debt/Eq Ratio Below
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Med 1.42 5 yr Med 1.85 95.20% Diff M/C 5.80 Historical 26 A/BV
-$10.67 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $14.85
-$12.12 $0.00 $0.00 $0.00 $0.00 $14.85
Debt Ratios without Bal P & CM Debt Ratios w/o Participants 
Balances of Particip. & Clearing M. $550.8 $7,773.9 $10,164.7 $8,807.2 $11,551.2 $16,315.5 $19,946.0 $25,991.4 $26,588.9 $30,270.4 $57,113.5 $49,340.8 $57,498.8 $42,436.50 and Clearing Members
Leverage (A/BK) 2.33 2.16 2.13 2.09 1.94 2.02 1.78 1.68 1.65 1.61 1.64 1.58 1.58 1.63 1.66 <-Median-> 10 A/BV
Debt/Equity Ratio 1.33 1.16 1.13 1.09 0.94 1.02 0.78 0.68 0.65 0.61 0.64 0.58 0.58 0.63 0.66 <-Median-> 10 Debt/Eq Ratio
$462.6 <-12 mths 22.03%
Comprehensive Income $241.0 $13.8 $146.4 $54.1 -$46.6 $190.5 $349.3 $305.5 $232.7 $288.5 $330.6 $563.5 $406.3
NCI $6.7 $4.3 $5.1 -$42.9 -$9.5 -$2.6 $0.0 $0.0 $0.0 $0.0 $0.0 $51.7 $27.2
Shareholders $234.3 $9.5 $141.3 $97.0 -$37.1 $193.1 $349.3 $305.5 $232.7 $288.5 $330.6 $511.8 $379.1 168.29% <-Total Growth 10 Comprehensive Income
Increase 21.53% -95.95% 1387.37% -31.35% -138.25% 620.49% 80.89% -12.54% -23.83% 23.98% 14.59% 54.81% -25.93% 14.59% <-Median-> 5 Comprehensive Income
5 Yr Running Average $173.1 $145.3 $132.3 $135.0 $89.0 $80.8 $148.7 $181.6 $208.7 $273.8 $301.3 $333.8 $348.5 11.14% <-IRR #YR-> 10 Comprehensive Income 168.29%
ROE 19.7% 0.5% 4.9% 3.3% -1.3% 6.6% 11.0% 9.0% 6.7% 8.0% 8.9% 12.2% 8.8% 5.87% <-IRR #YR-> 5 Comprehensive Income 24.09%
5Yr Median 22.3% 19.7% 10.7% 4.9% 3.3% 3.3% 4.9% 6.6% 6.7% 8.0% 8.9% 8.9% 8.8% 10.17% <-IRR #YR-> 10 5 Yr Running Average 163.36%
% Difference from NI -0.6% -12.4% 15.0% 75.4% -29.8% -1.7% -5.1% 6.8% -6.0% 3.1% -2.3% -10.6% 1.2% 13.93% <-IRR #YR-> 5 5 Yr Running Average 91.97%
Median Values Diff 5, 10 yr -2.0% -2.3% 8.8% <-Median-> 5 Return on Equity
-$141.3 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $406.3
-$305.5 $0.0 $0.0 $0.0 $0.0 $406.3
-$132.3 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $348.5
-$181.6 $0.0 $0.0 $0.0 $0.0 $348.5
Current Liability Coverage Ratio 0.16 -0.01 0.02 0.02 0.02 0.02 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01   CFO / Current Liabilities
5 year Median 0.16 0.14 0.13 0.02 0.02 0.02 0.02 0.02 0.01 0.01 0.01 0.01 0.01 0.01 0.01 <-Median-> 5 Current Liability Cov Ratio
Asset Efficiency Ratio 8.94% -0.54% 1.52% 1.67% 1.47% 1.42% 1.08% 1.10% 1.06% 1.14% 0.70% 0.79% 0.82% 1.12% CFO / Total Assets
5 year Median 8.54% 6.65% 5.81% 1.67% 1.52% 1.47% 1.47% 1.42% 1.10% 1.10% 1.08% 1.06% 0.82% 0.82% 0.8% <-Median-> 5 Return on Assets 
Return on Assets ROA 7.00% 0.11% 0.75% 0.36% -0.31% 0.88% 1.44% 0.90% 0.77% 0.77% 0.54% 0.97% 0.55% 0.84% Net  Income/Assets Return on Assets
5Yr Median 5.99% 4.96% 2.97% 0.75% 0.36% 0.36% 0.75% 0.88% 0.88% 0.88% 0.77% 0.77% 0.77% 0.77% 0.8% <-Median-> 10 Asset Efficiency Ratio
Return on Equity ROE 19.85% 0.54% 4.28% 1.88% -1.88% 6.72% 11.56% 8.46% 7.08% 7.74% 9.13% 13.61% 8.67% 10.30% Net Inc/ Shareholders' equity Return on Equity
5Yr Median 22.90% 19.85% 13.59% 4.28% 1.88% 1.88% 4.28% 6.72% 7.08% 7.74% 8.46% 8.46% 8.67% 9.13% 8.1% <-Median-> 10 Return on Equity
$406.5 <-12 mths 14.19%
Net Income $243.6 $20.7 $123.9 $100.5 -$68.5 $195.7 $368.0 $286.0 $247.6 $279.7 $338.5 $581.8 $388.2 213.32% <-Total Growth 10 Net Income
NCI $6.1 $5.4 $0.2 $45.9 -$16.2 -$0.7 $0.0 $0.0 $0.0 $0.0 $0.0 $39.1 $32.2
Shareholders $237.5 $15.3 $123.7 $54.6 -$52.3 $196.4 $368.0 $286.0 $247.6 $279.7 $338.5 $542.7 $356.0 $416 $432 $503 187.79% <-Total Growth 10 Net Income
Increase 23.89% -91.50% 498.55% -18.89% -168.16% -385.69% 88.04% -22.28% -13.43% 12.96% 21.02% 71.88% -33.28% 16.85% 3.82% 16.46% EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average $173.9 $150.2 $138.3 $137.1 $84.0 $74.5 $143.9 $176.3 $205.8 $275.4 $304.0 $346.7 $367.2 $386.6 $417.0 $449.9 11.15% <-IRR #YR-> 10 Net Income 187.79%
Operating Cash Flow $303.5 -$76.1 $250.4 $250.4 $250.3 $314.4 $276.6 $347.1 $344.0 $410.9 $441.4 $441.1 $524.9 4.48% <-IRR #YR-> 5 Net Income 24.48%
Investment Cash Flow $172.5 -$2,751.9 $33.4 -$27.6 -$23.0 -$18.3 -$612.0 $37.4 -$95.3 -$34.8 -$203.9 -$41.4 -$289.3 10.26% <-IRR #YR-> 10 5 Yr Running Average 165.53%
Total Accruals -$232.4 $2,848.7 -$159.9 -$122.3 -$295.8 -$100.4 $703.4 -$98.5 -$1.1 -$96.4 $101.0 $182.1 $152.6 15.80% <-IRR #YR-> 5 5 Yr Running Average 108.21%
Total Assets $3,394.8 $14,042.9 $16,495.5 $14,964.1 $17,017.4 $22,201.4 $25,624.8 $31,657.9 $32,359.7 $36,098.6 $63,199.4 $55,983.1 $64,337.4 Balance Sheet Assets
Accruals Ratio -6.85% 20.29% -0.97% -0.82% -1.74% -0.45% 2.74% -0.31% 0.00% -0.27% 0.16% 0.33% 0.24% 0.16% <-Median-> 5 Ratio
EPS/CF Ratio 0.64 0.35 0.46 0.29 -0.17 0.52 0.97 0.64 0.53 0.55 0.58 0.85 0.54 0.55 <-Median-> 10 EPS/CF Ratio
-$123.70 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $356.00
-$286.00 $0.00 $0.00 $0.00 $0.00 $356.00
-$138.27 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $367.16
-$176.34 $0.00 $0.00 $0.00 $0.00 $367.16
Chge in Close 12.80% 21.66% 0.61% -0.84% -29.27% 99.83% -1.51% 0.41% 58.98% 13.06% 0.87% 4.09% 20.04% 26.05% 0.00% -0.99% Count 22 Years of data
up/down/neutral up down Count 4 18.18%
Any Predictions? yes % right Count 2 50.00%
Financial Cash Flow -$113.9 $3,047.3 -$229.6 -$225.3 -$292.1 -$207.3 $270.4 -$425.1 -$234.8 -$303.1 -$194.8 -$292.9 -$309.2 C F Statement  Financial CF
Total Accruals -$118.5 -$198.6 $69.7 $103.0 -$3.7 $106.9 $433.0 $326.6 $233.7 $206.7 $295.8 $475.0 $461.8 Accruals
Accruals Ratio -3.49% -1.41% 0.42% 0.69% -0.02% 0.48% 1.69% 1.03% 0.72% 0.57% 0.47% 0.85% 0.72% 0.72% <-Median-> 5 Ratio
Cash $87.2 $224.4 $212.2 $214.0 $154.1 $240.6 $175.0 $135.3 $149.0 $222.1 $264.3 $375.7 $301.1 $320.3 Cash
Cash per Share $0.23 $0.83 $0.78 $0.79 $0.57 $0.87 $0.63 $0.49 $0.53 $0.79 $0.95 $1.35 $1.09 $1.16 $0.95 <-Median-> 5 Cash per Share
2.80% 8.23% 7.68% 7.79% 7.92% 6.11% 4.49% 3.43% 2.36% 3.10% 3.69% 5.05% 3.40% 2.87% 3.40% <-Median-> 5 % of Stock Price
Notes:
June 30, 2024.  Last estimates were for 2023 and 2024 of $1195M, $1257M Revenue, $1.50, $1.62, $1.71 2023/5 AEPS, $1.28, $1.40 EPS, $0.70, $0.72 dividends, 
$410M, $467M FCF, $1.74, $1.86 CFPS, $15.20, $15.90 BVPS, $372M, $408M Net Income.
May 30, 2023.  Spreadsheet updated for 5 to 1 split. 
July 2, 2023.  Last estimates were for 2022, 2023 and 2024 of $1165M, $1190M and $1252M for Revenue, $7.22, $7.66 and $8.35 for AEPS, $9.38, $7.16 and $7.58 for EPS, 
$3.34, $3.50 and $3.75 for Dividends, $392M, $418M and $482M for FCF, $12.20, $9.96 and $10.40 for CFPS, $71.80, $75.40 and $79.80 for BVPS, $541M, $392M and $430M for Net Income.
July 9, 2022.  Last estimates were for 2021, 2022 and 2023 of $968M, $1018M and $1097M for Revenue, $6.57 and $6.90 for AEPS for 2021-22, $6.05, $6.55 and $6.85 for EPS, 
$3.03, $3.25 and $3.44 for Dividends, $353M, $372M and $438M for FCF, $7.67, $8.60 and $9.35 for CFPS and $340M, $356M and $389M for Net Income.
July 4, 2021.  Last estimates were for 2020, 2021 and 2022 of $866M, $903M and $959M for Revenue, $5.75 and $6.05 for Adj EPS for 2020 and 21, $5.25, $5.90 and $6.28 for EPS, 
$2.68, $2.84 and $3.20 for Dividends, $281M and $323M for FCF for 2020 and 21, $6.83, $8.41 and $7.81 for CFPS an $292M, $324M and $356M for Net Income.
July 11, 2020.  Last estimates were for 2019 and 2020 of $823 and $872 for Revenue, $5.50 and $5.85 for Adjusted EPS, $4.88 and $5.66 for EPS.
 $2.44 and $2.52 for Dividends, $6.72 and $7.48 for CFPS and $272M and $303M for Net Income.
July 13, 2019.  Last estimates were for 2018 and 2019 of $818M and $851M for Revenue, $5.42 and $5.71 for Adjusted EPS, $4.93 and $5.11 for EPS, $2.24 and $2.42 for Dividends, 
$6.15, 6.95 and $9.01 for CFPS for 2018, 2019 and 2020 and $275M and $288M for Net Income.
July 13, 2018.  Last estimates were for 2017 and 2018 of $745M and $774M for Revenue, $3.91 and $4.43 for EPS and $224M and $256M for Net Income.
July 9, 2017.  Last estimates were for 2016 and 2017 of $726M and $765M for Revenue, $$3.8 and $4.20 for Adjusted EPS, $3.35 and $3.66 for EPS, and $184M and $191M for Net Income.
July 9, 2016.  Last estimates were $752M and $788M for Revenue. $3.43 and $3.90 for EPS, $3.89 and $4.40 for CFPS and $186M and $206M for Net Income.
July 7, 2015.  Last estimates were for 2014 and 2015 of $736M and $781M for Revenue, $3.46 and $3.94 for EPS, $4.12 and $4.76 for CFPS and $192M and $218M for Net Income.
July 06, 2014.  Last estimates were for 2012 and 2013 of $656.9M and 782M for Revenue, $2.95 and $3.76 for EPS.
December 26, 2012.  Last estimates were for 2010, 2011 and 2012 of $2.70, $3.50 and $3.38 for EPS and $3.05, $3.30 and $3.60 for CFPS. Issued
Name change from TMX Group Inc to TMX Group Ltd.  Symbol still "X". 38.786
July 15, 2012.  Last Estimates were for 2010 to 2012 for EPS at $2.70, $3.05 and $3.38 and for CF at $3.05, $3.30 and $3.60.
On there site they talk about being bought out so no point in updated spreadsheet at present. 
Jan 2010.  When I last looked at this stock, I got estimates for 2009 and 2010 of $2.37 and $2.63 for earnings and $2.37 and $3.05 for cash flow.
Dec 19, 2009.  When I looked at this in June 2008, I got a 2008 earnings of $2.60.  I check book value and what I have is what statements say.
AR 2007.  Recent name change from TSX to TMX because of purchase of Montreal Exchange. Book value low, leverage and debt high.
The big spread in Graham Price and stock price is because of low book value.  Negative charge (deficit) to book value last four years. Earnings, revenue and cash flow is strong.
Book Value came down a lot after IPO.  I think I will pass on this stock
Prior to Apr 2000, TSX was non-profit
Sector:
Financial Services
What should this stock accomplish?
Would I buy this company and Why.
This stock is now a dividend growth stock.
Why am I following this stock. 
I looked at this stock in 2008 after I found it on a list of Strongest Dividend Growth stocks.  I am interested in such stocks.  
Dividends
Dividends are paid in Cycle 3 of March, June, September and December. Dividends are declared with a record date and then paid in the following month.
For example, the dividend declared on February 9, 2011 has a record date of 25 February 2011, a ex-date of 23 February 2011 and was paid on 11 March 2011.
How they make their money.
TMX Group Ltd is a company that operates several markets to provide investment opportunities for its clients. TMX Group provides listing markets, trading markets, clearing facilities, 
depository services, technology solutions, data products, and other services to the world-wide financial community. TMX Group operates offices across North America (Montreal, Calgary, 
Vancouver, and New York), as well as in key international markets including London and Singapore. The company has four segments namely: Global Solutions, Insights & Analytics, 
which derives the key revenue; Capital Formation; Derivatives Trading & Clearing; and Equities and Fixed Income Trading & Clearing.   
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.
The company made the announcement Friday (Sept 14, 2012) as it said it has completed the final step in its takeover, which saw TMX Group Inc. shareholders exchange for shares of TMX Group Ltd. shares.
The swap followed a first step that saw TMX Group Ltd. pay $50 in cash per share for about 80 per cent of the shares in TMX Group Inc.
Former shareholders of TMX Group Inc. hold a 22.1 per cent in the new company, while the former Maple Group members hold the remaining stake in the exchange operator.
New shares to start trading on Wednesday, Sept 19th, 2012.
Certain information contained under "Investor Relations" relates to TMX Group Inc., which became a wholly owned subsidiary of TMX Group Limited on September 14, 2012. At the close of business 
on September 18, 2012, shares of TMX Group Inc were delisted from Toronto Stock Exchange.
Wait for another quarter before reviewing.
TMX Group Limited's (formerly Maple Group Acquisition Corporation) acquisitions of TMX Group Inc.,
TMX Group Inc., which became a wholly owned subsidiary of TMX Group Limited on September 14, 2012. At the close of business on September 18, 2012, shares of TMX Group Inc were delisted from Toronto Stock Exchange. only this line corrected for  McK seems 2023 values too high
5 to 1 split
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 2016 Jul 09 2017 Jul 13 2018 Jul 13 2019 Jul 11 2020 Jul 4 2021 Jul 9 2022 Jul 2 2023 Jun 30 2024 Not available in July 2017
McKenzie, John 0.002 0.00% 0.002 0.00% 0.003 0.00% 0.003 0.00% 0.003 0.00% 0.069 0.02% 0.071 0.03% 0.124 0.04% In 2020 interium CEO 75.12%
CEO - Shares - Amount $0.028 $0.033 $0.061 $0.077 $0.085 $1.829 $2.277 $5.026 In 23021 CEO from CFO
Options - percentage 0.067 0.02% 0.082 0.03% 0.097 0.03% 0.120 0.04% 0.145 0.05% 0.839 0.30% 0.989 0.36% 0.868 0.31% -12.24%
Options - amount $0.944 $1.154 $2.177 $3.055 $3.724 $22.397 $31.690 $35.059
Eccleston, Lou 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% as CEO, but in officer sec.
CEO - Shares - Amount $0.000 $0.000 $0.000 $0.000
Options - percentage 0.14% 0.612 0.22% 0.739 0.26% 0.828 0.29%
Options - amount $5.638 $8.624 $10.452 $18.613
Arnold, David 0.000 0.00% 0.001 0.00% 0.013 0.00% 0.106 0.04% 739.58%
CFO - Shares - Amount $0.000 $0.022 $0.404 $4.274
Options - percentage 0.004 0.00% 0.089 0.03% 0.612 0.22% 0.080 -86.99%
Options - amount $0.113 $2.372 $19.618 $3.218
Fortin, Luc 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.003 0.00% 0.015 0.01% 0.016 0.01% 0.016 0.01% 3.39%
Officer - Shares - Amount $0.001 $0.005 $0.009 $0.074 $0.401 $0.498 $0.650
Options - percentage 0.041 0.01% 0.061 0.02% 0.050 0.02% 0.058 0.02% 0.324 0.12% 0.366 0.13% 0.251 0.09% -31.27%
Options - amount $0.574 $1.361 $1.264 $1.486 $8.647 $11.723 $10.156
Bush, Cindy 0.000 0.00% 0.004 0.00% 0.095 0.03% 2580.14%
Officer - Shares - Amount $0.004 $0.114 $3.844
Options - percentage 0.076 0.03% 0.531 0.19% 0.028 0.01% -94.78%
Options - amount $2.016 $17.007 $1.119
Darveau-Garneau, Nicolas 0.000 0.00% 0.000 0.00% 0.000 0.00% #DIV/0!
Director - Shares - Amount $0.000 $0.000 $0.000
Options - percentage 0.023 0.01% 0.155 0.06% 0.039 0.01% -74.69%
Options - amount $0.614 $4.980 $1.589
Irman, Martine 0.000 0.00% 0.000 0.00% 0.000 0.00% #DIV/0!
Director - Shares - Amount $0.000 $0.000 $0.000
Options - percentage 0.019 0.01% 0.138 0.05% 0.037 0.01% -73.19%
Options - amount $0.495 $4.420 $1.494
Bertrand, Luc 0.15% 0.590 0.21% 0.590 0.21% 0.590 0.21% 0.585 0.21% 0.585 0.21% 3.025 1.09% 15.125 5.47% 15.125 5.47% Was director until 2023 0.00%
Chairman - Shares - Amount $5.840 $8.312 $8.346 $13.269 $14.875 $15.005 $80.768 $484.756 $611.050
Options - percentage 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.006 0.00% 0.072 0.03% 0.028 0.01% -61.14%
Options - amount $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.173 $2.302 $1.128
Winograd, Charles 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% Ceased insider May 2023
Chairman - Shares - Amt $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000
Options - percentage 0.00% 0.025 0.01% 0.030 0.01% 0.035 0.01% 0.039 0.01% 0.042 0.01% 0.227 0.08%
Options - amount $0.000 $0.353 $0.424 $0.779 $0.987 $1.075 $6.049
Increase in O/S Shares 0.03% 0.629 0.23% 0.362 0.13% 0.407 0.15% 0.443 0.16% 0.541 0.19% 0.228 0.08% 0.358 0.13% 1.016 0.37% Average 0.19%
due to SO 2013 $0.552 $9.002 $5.102 $5.755 $9.972 $13.746 $5.838 $9.565 $32.571
Book Value $3.400 $34.700 $19.100 $22.500 $27.100 $35.300 $16.600 $29.600 $17.900
Insider Buying -$0.851 -$10.602 -$0.587 -$0.200 $0.000 $0.000 -$2.665 $0.000 $0.000
Insider Selling $0.000 $7.250 $2.962 $2.080 $6.765 $6.168 $2.805 $0.000 $12.025
Net Insider Selling -$0.851 -$3.352 $2.375 $1.880 $6.765 $6.168 $0.140 $0.000 $12.025
% of Market Cap -0.02% -0.09% 0.06% 0.03% 0.09% 0.09% 0.00% 0.00% 0.11%
Directors 18 14 13 12 12 12 12 11
Women 28% 5 28% 4 29% 3 23% 3 25% 3 25% 3 25% 4 33% 4 36%
Minorities 0% 0 0% 0 0% 0 0% 0 0% 0 0% 1 8% 1 8% 1 9%
Institutions/Holdings 30.35% 79 33.75% 85 51.10% 107 57.61% 20 45.30% 20 51.84% 20 10.53% 20 10.53%
Total Shares Held 6.00% 18.661 6.74% 28.449 10.20% 32.294 11.49% 25.272 8.98% 28.966 10.40% 29.346 10.61% 0.000 0.00%
Increase/Decrease 0.32% 0.551 3.04% 0.263 0.93% 0.486 1.53% 0.486 1.96% -1.156 -3.84% -1.771 -5.69% -1.771 -100.00%
Starting No. of Shares 18.110 28.186 31.808 24.787 Top 20 MS 30.122 Top 20 MS 31.117 Top 20 MS 1.771 Top 20 MS
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