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 2025
See my website on stocks or see my blog at the following sites.  https://spbrunner.com/stocks.html https://spbrunner.blogspot.com/ 3/31/25 <estimates
Emera Inc TSX: EMA OTC: EMRAF https://www.emera.com/ Fiscal Yr: Dec 31
Year 12/31/12 12/31/13 12/31/14 12/31/15 12/31/16 12/31/17 12/31/18 12/31/19 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 12/31/25 12/31/26 12/31/27 Value Description #Y Item Total G
Accounting Rules USGAAP USGAAP USGAAP USGAAP USGAAP USGAAP USGAAP USGAAP USGAAP USGAAP USGAAP USGAAP USGAAP USGAAP USGAAP USGAAP Accounting Rules
USD - CDN$ 1.0636 1.1601 1.3847 1.3427 1.2545 1.3642 1.2988 1.2732 1.2678 1.3544 1.3226 1.4389 1.4438 1.4438 1.4438 USD - CDN$
Comments $7,331 <-12 mths 1.82%
Revenue* $2,058.6 $2,230.2 $2,971.9 $2,789.3 $4,277 $6,226 $6,524 $6,111 $5,506 $5,765 $7,588 $7,563 $7,200 $8,225 $8,375 $8,869 142.27% <-Total Growth 10 Revenue
Increase -0.28% 8.34% 33.26% -6.14% 53.34% 45.57% 4.79% -6.33% -9.90% 4.70% 31.62% -0.33% -4.80% 14.24% 1.82% 5.90% 9.25% <-IRR #YR-> 10 Revenue 142.27%
5 year Running Average $1,695 $1,874 $2,176 $2,423 $2,865 $3,699 $4,558 $5,185 $5,729 $6,026 $6,299 $6,507 $6,724 $7,268 $7,790 $8,046 3.33% <-IRR #YR-> 5 Revenue 17.82%
Revenue per Share $15.72 $16.78 $20.67 $18.95 $20.36 $27.22 $27.87 $25.20 $21.90 $22.08 $28.11 $26.62 $24.33 $27.79 $28.30 $29.97 11.94% <-IRR #YR-> 10 5 yr Running Average 209.06%
Increase -6.49% 6.78% 23.16% -8.33% 7.48% 33.64% 2.39% -9.56% -13.11% 0.84% 27.29% -5.30% -8.60% 14.24% 1.82% 5.90% 5.34% <-IRR #YR-> 5 5 yr Running Average 29.68%
5 year Running Average $14.18 $15.17 $16.71 $17.78 $18.50 $20.80 $23.01 $23.92 $24.51 $24.85 $25.03 $24.78 $24.61 $25.79 $27.03 $27.40 1.64% <-IRR #YR-> 10 Revenue per Share 17.70%
P/S (Price/Sales) Med 2.16 1.97 1.69 2.27 2.25 1.55 1.54 2.01 2.36 2.57 2.18 1.94 1.97 1.97 0.00 0.00 -0.70% <-IRR #YR-> 5 Revenue per Share -3.46%
P/S (Price/Sales) Close 2.21 1.82 1.87 2.28 2.23 1.73 1.57 2.21 2.47 2.86 1.84 1.89 2.21 2.09 2.06 1.94 3.95% <-IRR #YR-> 10 5 yr Running Average 47.30%
*Revenue in M CDN $  P/S Med 20 yr  1.95 15 yr  2.01 10 yr  2.09 5 yr  2.18 -0.03% Diff M/C 0.57% <-IRR #YR-> 5 5 yr Running Average 2.88%
-$2,972 $0 $0 $0 $0 $0 $0 $0 $0 $0 $7,200
-$6,111 $0 $0 $0 $0 $7,200
-$2,176 $0 $0 $0 $0 $0 $0 $0 $0 $0 $6,724
-$5,185 $0 $0 $0 $0 $6,724
-$20.67 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $24.33
-$25.20 $0.00 $0.00 $0.00 $0.00 $24.33
-$16.71 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $24.61
-$23.92 $0.00 $0.00 $0.00 $0.00 $24.61
AFFO* $1.73 $2.72 $3.29 $3.30 $2.43 $2.61 $4.50 $3.45 $2.60 $2.22 $1.35 $5.61 $5.53 $4.79 68.09% <-Total Growth 10 AFFO
Increase -16.02% 57.23% 20.96% 0.30% -26.36% 7.41% 72.41% -23.33% -24.64% -14.62% -39.19% 315.56% -1.43% -13.38% 5.33% <-IRR #YR-> 10 AFFO 68.09%
AFFO Yield 5.0% 8.9% 8.5% 7.6% 5.4% 5.6% 10.3% 6.2% 4.8% 3.5% 2.6% 11.2% 10.3% 8.2% 9.90% <-IRR #YR-> 5 AFFO 60.29%
5 year Running Average $2.62 $2.69 $2.87 $3.23 $3.26 $3.12 $3.08 $2.82 $3.05 $3.46 $3.90 3.14% <-IRR #YR-> 9 5 yr Running Average #DIV/0!
Payout Ratio 78.76% 51.93% 44.83% 50.38% 82.10% 81.70% 50.72% 68.84% 95.19% 115.99% 198.33% 49.69% 52.03% 60.54% 1.22% <-IRR #YR-> 5 5 yr Running Average 6.26%
5 year Running Average 55.15% 58.70% 60.47% 59.19% 64.13% 72.23% 76.98% 87.71% 84.64% 77.37% 70.86% 68.18% <-Median-> 10 Payout 5 yr Running Average
Price/AFFO Median 19.59 12.14 10.63 13.04 18.86 16.14 9.51 14.69 19.84 25.52 45.35 9.21 8.69 11.44 15.41 <-Median-> 10 P/AFFO Med
Price/AFFO High 20.42 13.63 11.98 14.31 20.40 15.08 10.49 16.94 23.31 28.54 47.95 10.52 9.32 12.13 16.01 <-Median-> 10 P/AFFO High
Price/AFFO Low 18.76 10.65 9.29 11.77 17.32 17.20 8.54 12.45 16.37 22.50 42.75 7.90 8.06 10.76 14.41 <-Median-> 10 P/AFFO Low
Price/AFFO Close 20.08 11.24 11.74 13.10 18.68 18.00 9.71 16.17 20.81 28.48 38.33 8.97 9.72 12.15 17.09 <-Median-> 10 P/AFFO Close
Trailing P/AFFO Close 16.86 17.67 14.21 13.14 13.75 19.33 16.75 12.40 15.68 24.32 23.31 37.26 9.58 10.52 16.21 <-Median-> 10 Trailing P/AFFO Close
Median Values DPR 10 Yrs 75.27% 5 Yrs   95.19% P/CF 5 Yrs   in order 19.84 23.31 16.37 20.81 -38.76% Diff M/C -21.18% Diff M/C 10 DPR 75% to 95% best
$3.09 <-12 mths 5.10%
Adjusted Net Income $231 $259 $319 $330 $475 $524 $671 $621 $665 $723 $850 $809 $849 165.98% <-Total Growth 10 Adjusted Net Income
Return on Equity ROE 13.90% 12.39% 11.87% 9.45% 7.92% 8.21% 9.21% 8.22% 8.11% 8.32% 8.50% 7.59% 7.16% 8.22% <-Median-> 10 Return on Equity ROE
5Yr Median 11.87% 9.45% 9.21% 8.22% 8.21% 8.22% 8.32% 8.22% 8.11% 8.22% <-Median-> 9 5Yr Median
Adjusted EPS Diluted $1.84 $1.95 $2.17 $2.25 $2.76 $2.45 $2.88 $2.58 $2.68 $2.81 $3.20 $2.95 $2.94 35.39% <-Total Growth 10 Adjusted EPS Diluted
Adjusted EPS basic $1.85 $1.96 $2.23 $2.26 $2.77 $2.46 $2.88 $2.59 $2.68 $2.81 $3.20 $2.96 $2.94 $3.25 $3.36 $3.53 31.84% <-Total Growth 10 Adjusted EPS Excludes
Increase -7.04% 5.95% 13.78% 1.35% 22.57% -11.19% 17.07% -10.07% 3.47% 4.85% 13.88% -7.50% -0.68% 10.54% 3.38% 5.06% 2.80% <-IRR #YR-> 10 Adjusted EPS MTM
Earnings Yield 5.3% 6.4% 5.8% 5.2% 6.1% 5.2% 6.6% 4.6% 5.0% 4.4% 6.2% 5.9% 5.5% 5.6% 5.8% 6.1% 2.57% <-IRR #YR-> 5 Adjusted EPS Special Items
5 year Running Average $1.67 $1.81 $1.94 $2.06 $2.21 $2.34 $2.52 $2.59 $2.68 $2.68 $2.83 $2.85 $2.92 $3.03 $3.14 $3.21 4.17% <-IRR #YR-> 10 5 yr Running Average
Payout Ratio 73.65% 72.07% 66.14% 73.56% 72.02% 86.69% 79.25% 91.70% 92.35% 91.64% 83.67% 94.17% 97.87% 89.23% 86.31% 82.15% 2.40% <-IRR #YR-> 5 5 yr Running Average
5 year Running Average 69.77% 69.55% 69.33% 70.21% 71.43% 74.29% 75.77% 80.61% 84.16% 88.23% 87.46% 90.52% 91.79% 0.00% 0.00% 0.00% 82.38% <-Median-> 10 Payout 5 yr Running Average
Price/Adj EPS Median 18.32 16.84 15.69 19.04 16.54 17.12 14.86 19.57 19.25 20.16 19.13 17.45 16.34 16.87 0.00 0.00 18.24 <-Median-> 10 P/AFFO Med
Price/Adj EPS High 19.09 18.91 17.67 20.89 17.89 16.00 16.39 22.56 22.61 22.54 20.23 19.93 17.53 17.88 0.00 0.00 20.08 <-Median-> 10 P/AFFO High
Price/Adj EPS Low 17.54 14.78 13.71 17.19 15.19 18.24 13.34 16.58 15.88 17.78 18.03 14.97 15.15 15.86 0.00 0.00 16.23 <-Median-> 10 P/AFFO Low
Price/AFFO Close 18.78 15.60 17.33 19.13 16.39 19.10 15.18 21.54 20.19 22.50 16.17 16.99 18.28 17.91 17.32 16.49 18.21 <-Median-> 10 P/AFFO Close
Trailing Price/AFFO Close 17.46 16.52 19.71 19.39 20.08 16.96 17.77 19.37 20.89 23.59 18.42 15.72 18.15 19.80 17.91 17.32 18.89 <-Median-> 10 Trailing P/AFFO Close
Median Values DPR 10 Yrs 89.16% 5 Yrs   92.35% P/CF 5 Yrs   in order 19.13 20.23 15.88 18.28 -6.40% Diff M/C -1.85% Diff M/C 10 DPR 75% to 95% best
$1.88 <-12 mths 9.94%
Difference Basic and Diluted 0.56% 0.00% 0.70% 0.37% 0.75% 0.80% 0.33% 0.00% 0.00% 0.00% 0.28% 0.00% 0.00% 0.00 <-Median-> 10 Difference Basic and Diluted
EPS Basic $1.77 $1.64 $2.84 $2.72 $1.33 $1.25 $3.05 $2.76 $3.78 $1.98 $3.56 $3.57 $1.71 -39.79% <-Total Growth 10 Earnings
EPS Diluted* $1.76 $1.64 $2.82 $2.71 $1.32 $1.24 $3.04 $2.76 $3.78 $1.98 $3.55 $3.57 $1.71 $3.28 $3.36 $3.62 -39.36% <-Total Growth 10 Earnings
Increase -10.66% -6.82% 71.95% -3.90% -51.29% -6.06% 145.16% -9.21% 36.96% -47.62% 79.29% 0.56% -52.10% 91.99% 2.47% 7.61% 10 0 10 Years of Data, EPS P or N 100.00%
Earnings Yield 5.1% 5.4% 7.3% 6.3% 2.9% 2.6% 7.0% 4.9% 7.0% 3.1% 6.9% 7.1% 3.2% 5.6% 5.8% 6.2% -4.88% <-IRR #YR-> 10 Earnings -39.36%
5 year Running Average $1.63 $1.71 $1.97 $2.18 $2.05 $1.95 $2.23 $2.21 $2.43 $2.56 $3.02 $3.13 $2.92 $2.82 $3.10 $3.11 -9.13% <-IRR #YR-> 5 Earnings -38.04%
10 year Running Average $1.40 $1.45 $1.62 $1.78 $1.80 $1.79 $1.97 $2.09 $2.30 $2.31 $2.48 $2.68 $2.57 $2.62 $2.83 $3.07 4.02% <-IRR #YR-> 10 5 yr Running Average 48.27%
* Diluted ESP per share  E/P 10 Yrs 5.61% 5Yrs 6.86% 5.68% <-IRR #YR-> 5 5 yr Running Average 31.80%
-$2.82 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.71
-$2.76 $0.00 $0.00 $0.00 $0.00 $1.71
-$1.97 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.92
-$2.21 $0.00 $0.00 $0.00 $0.00 $2.92
Dividend* $2.90 $2.96 $2.97 Estimates Dividend*
Increase 0.85% 2.03% 0.41% Estimates Increase
Payout Ratio EPS 88.39% 88.02% 82.13% Estimates Payout Ratio EPS
Dividend US$ New Qrtly $0.329 $0.312 $0.280 $0.389 $0.450 $0.431 $0.472 $0.501 $0.523 $0.509 $0.542 $0.504 Dividend US$ New Qrtly
Special Dividends $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 <-Median-> 10 Special Dividends
Dividend* $1.36 $1.41 $1.48 $1.66 $2.00 $2.13 $2.28 $2.38 $2.48 $2.58 $2.6775 $2.7875 $2.8775 $2.9000 $2.9000 $2.9000 95.08% <-Total Growth 10 Dividends
Increase 3.81% 3.67% 4.42% 12.71% 20.00% 6.89% 7.03% 4.05% 4.21% 4.04% 3.98% 4.11% 3.23% 0.78% 0.00% 0.00% 29 0 31 Years of data, Count P, N 93.55%
Average Increases 5 Year Running 8.71% 8.00% 7.53% 7.50% 8.92% 9.54% 10.21% 10.14% 8.44% 5.25% 4.66% 4.08% 3.91% 3.23% 2.42% 1.62% 7.97% <-Median-> 10 Average Incr 5 Year Running
Dividends 5 Yr Running $1.17 $1.26 $1.35 $1.45 $1.58 $1.74 $1.91 $2.09 $2.25 $2.37 $2.48 $2.58 $2.68 $2.76 $2.83 $2.87 99.14% <-Total Growth 10 Dividends 5 Yr Running
Yield H/L Price 4.02% 4.28% 4.22% 3.86% 4.35% 5.06% 5.33% 4.69% 4.80% 4.55% 4.37% 5.40% 5.99% 5.29% 4.74% <-Median-> 10 Yield H/L Price Item
Yield on High  Price 3.86% 3.81% 3.74% 3.52% 4.03% 5.42% 4.84% 4.06% 4.08% 4.06% 4.14% 4.73% 5.58% 4.99% 4.11% <-Median-> 10 Yield on High  Price EPS
Yield on Low Price 4.20% 4.88% 4.82% 4.28% 4.74% 4.75% 5.94% 5.53% 5.81% 5.15% 4.64% 6.29% 6.46% 5.63% 5.34% <-Median-> 10 Yield on Low Price AEPS
Yield on Close Price 3.92% 4.62% 3.82% 3.85% 4.40% 4.54% 5.22% 4.26% 4.57% 4.07% 5.17% 5.54% 5.36% 4.98% 4.98% 4.98% 4.56% <-Median-> 10 Yield on Close Price Div Pd Cash
Payout Ratio EPS 77.41% 86.13% 52.30% 61.35% 151.14% 171.98% 75.08% 86.05% 65.48% 130.05% 75.42% 78.08% 168.27% 88.33% 86.21% 80.11% 82.07% <-Median-> 10 DPR EPS CFPS
DPR EPS 5 Yr Running 71.48% 73.54% 68.34% 66.28% 77.15% 89.18% 85.78% 94.38% 92.75% 92.50% 81.97% 82.42% 91.79% 98.05% 91.38% 92.40% 87.48% <-Median-> 10 DPR EPS 5 Yr Running FCF 1
Payout Ratio CFPS 44.88% 33.27% 27.81% 36.30% 39.79% 40.89% 44.79% 37.76% 38.01% 56.73% 79.17% 35.34% 32.18% 37.37% 34.38% 34.44% 38.90% <-Median-> 10 DPR CF FCF 2
DPR CF 5 Yr Running 39.64% 37.28% 34.54% 35.39% 35.65% 35.63% 37.88% 39.89% 40.04% 42.82% 47.97% 45.06% 42.84% 42.50% 38.84% 34.66% 39.96% <-Median-> 10 DPR CF 5 Yr Running
Payout Ratio CFPS WC 43.40% 32.49% 29.16% 31.55% 45.59% 37.61% 40.82% 36.04% 43.82% 50.28% 63.02% 33.90% 38.81% 37.37% 34.38% 34.44% 39.82% <-Median-> 10 DPR CF WC
DPR CF WC 5 Yr Running 37.84% 37.09% 35.29% 33.77% 35.63% 35.10% 36.77% 38.00% 40.40% 41.37% 45.53% 43.21% 43.69% 42.17% 39.20% 35.69% 39.20% <-Median-> 10 DPR CF WC 5 Yr Running
Median 5 Yrs 10 Yr Med 10 Yr Cl 4.74% 4.56% 5 Yr Med 5 Yr Cl 4.80% 5.17% 5 Yr Med Payout 78.08% 38.01% 43.82% 3.91% <-IRR #YR-> 5 Dividends 21.16%
* Dividends per share  10 Yr Med and Cur. 5.09% 9.34% 5 Yr Med and Cur. 3.85% -3.69% Last Div Inc ---> $0.7175 $0.7250 1.05% 6.91% <-IRR #YR-> 10 Dividends 95.08%
Dividends Growth 15 7.09% <-IRR #YR-> 15 Dividends 179.37%
Dividends Growth 20 6.10% <-IRR #YR-> 20 Dividends 226.99%
Dividends Growth 25 5.10% <-IRR #YR-> 25 Dividends 246.69%
Dividends Growth 30 4.54% <-IRR #YR-> 30 Dividends
Dividends Growth 35 4.43% <-IRR #YR-> 31 Dividends
Dividends Growth 5 -$2.38 $0.00 $0.00 $0.00 $0.00 $2.88 Dividends Growth 5
Dividends Growth 10 -$1.48 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.88 Dividends Growth 10
Dividends Growth 15 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.88 Dividends Growth 15
Dividends Growth 20 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.88 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 $2.88 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 $2.88 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 $2.88
Historical Dividends Historical High Div 7.13% Low Div 3.76% 10 Yr High 6.44% 10 Yr Low 3.57% Med Div 4.79% Close Div 4.58% Historical Dividends
High/Ave/Median Values Curr diff Exp. -30.11%     32.52% Exp. -22.63% 39.57% Cheap 4.03% Cheap 8.90% High/Ave/Median 
Future Dividend Yield Div Yd 6.04% earning in 5 Years at IRR of 3.91% Div Inc. 21.16% Future Dividend Yield
Future Dividend Yield Div Yd 7.31% earning in 10 Years at IRR of 3.91% Div Inc. 46.79% Future Dividend Yield
Future Dividend Yield Div Yd 8.86% earning in 15 Years at IRR of 3.91% Div Inc. 77.85% Future Dividend Yield
Future Dividend Paid Div Paid $3.51 earning in 5 Years at IRR of 3.91% Div Inc. 21.16% Future Dividend Paid
Future Dividend Paid Div Paid $4.26 earning in 10 Years at IRR of 3.91% Div Inc. 46.79% Future Dividend Paid
Future Dividend Paid Div Paid $5.16 earning in 15 Years at IRR of 3.91% Div Inc. 77.85% Future Dividend Paid
Dividend Covering Cost Total Div $15.68 over 5 Years at IRR of 3.91% Div Cov. 26.94% Dividend Covering Cost
Dividend Covering Cost Total Div $31.16 over 10 Years at IRR of 3.91% Div Cov. 53.55% Dividend Covering Cost
Dividend Covering Cost Total Div $49.92 over 15 Years at IRR of 3.91% Div Cov. 85.78% Dividend Covering Cost
I am earning GC Div Gr 123.08% 09/08/11 # yrs -> 14 2011 $28.87 Cap Gain 101.59% I am earning GC
I am earning Div org yield 4.50% 1/31/15 Pension Div G Yrly 25.91% Div start $1.30 -4.50% 10.05% I am earning Div
I am earning GC Div Gr 225.84% 15/07/05 # yrs -> 20 2005 $18.65 Cap Gain 212.06% I am earning GC
I am earning Div org yield 4.77% 1/31/15 Pension Div G Yrly 13.16% Div start $0.89 -4.77% 15.55% I am earning Div
Yield if held 5 years 6.72% 6.74% 6.68% 6.01% 6.46% 6.29% 6.91% 6.79% 5.75% 5.62% 6.36% 6.51% 5.68% 5.62% 5.12% 4.74% 6.33% <-Median-> 10 Paid Median Price
Yield if held 10 years 8.13% 8.37% 8.62% 8.88% 9.84% 10.52% 10.89% 10.75% 8.95% 8.33% 7.90% 8.44% 8.22% 6.74% 6.33% 6.89% 8.91% <-Median-> 10 Paid Median Price
Yield if held 15 years 9.35% 8.22% 8.66% 10.76% 13.34% 12.73% 13.53% 13.88% 13.22% 12.70% 13.21% 13.30% 13.02% 10.48% 9.39% 8.56% 13.22% <-Median-> 10 Paid Median Price
Yield if held 20 years 15.20% 14.64% 13.29% 13.95% 16.02% 17.22% 15.99% 16.52% 16.82% 15.49% 14.30% 14.31% 15.99% <-Median-> 9 Paid Median Price
Yield if held 25 years 19.62% 18.38% 16.23% 16.90% 18.77% 19.40% 17.31% 17.64% <-Median-> 4 Paid Median Price
Cost covered if held 5 years 28.77% 29.97% 30.44% 26.12% 25.59% 25.61% 28.92% 29.86% 26.16% 25.84% 29.41% 30.11% 26.42% 26.79% 24.96% 23.46% 26.29% <-Median-> 10 Paid Median Price
Cost covered if held 10 years 61.21% 64.05% 66.63% 65.02% 65.49% 71.58% 75.53% 77.72% 66.82% 63.92% 62.16% 67.96% 68.14% 58.27% 56.71% 63.52% 67.39% <-Median-> 10 Paid Median Price
Cost covered if held 15 years 99.23% 87.60% 92.16% 106.88% 118.11% 113.01% 120.64% 127.69% 125.17% 123.88% 132.68% 137.04% 138.33% 116.76% 109.69% 104.55% 124.53% <-Median-> 10 Paid Median Price
Cost covered if held 20 years 166.15% 158.81% 143.19% 153.52% 179.76% 197.31% 186.96% 197.05% 205.96% 198.99% 193.64% 203.55% 179.76% <-Median-> 9 Paid Median Price
Cost covered if held 25 years 256.36% 243.84% 218.24% 232.19% 269.19% 291.91% 272.72% 238.01% <-Median-> 4 Paid Median Price
Yr  Item Tot. Growth
Revenue Growth  $6,111.0 $5,506.0 $5,765.0 $7,588.0 $7,563.0 $7,200.0 $7,331 <-12 mths 1.82% 17.82% <-Total Growth 5 Revenue Growth  17.82%
AEPS Growth $2.59 $2.68 $2.81 $3.20 $2.96 $2.94 $3.09 <-12 mths 5.10% 13.51% <-Total Growth 5 AEPS Growth 13.51%
Net Income Growth $663.0 $938.0 $510.0 $945.0 $978.0 $494.0 $354 <-12 mths -28.33% -25.49% <-Total Growth 5 Net Income Growth -25.49%
Cash Flow Growth $1,525.0 $1,637.0 $1,185.0 $913.0 $2,241.0 $2,646.0 73.51% <-Total Growth 5 Cash Flow Growth 73.51%
Dividend Growth $2.38 $2.48 $2.58 $2.68 $2.79 $2.88 $2.90 <-12 mths 0.78% 21.16% <-Total Growth 5 Dividend Growth 21.16%
Stock Price Growth $55.79 $54.10 $63.22 $51.75 $50.30 $53.73 $54.12 <-12 mths 0.73% -3.69% <-Total Growth 5 Stock Price Growth -3.69%
Revenue Growth  $2,971.9 $2,789.3 $4,277.0 $6,226.0 $6,524.0 $6,111.0 $5,506.0 $5,765.0 $7,588.0 $7,563.0 $7,200.0 $8,225 <-this year 14.24% 142.27% <-Total Growth 10 Revenue Growth  142.27%
AEPS Growth $2.23 $2.26 $2.77 $2.46 $2.88 $2.59 $2.68 $2.81 $3.20 $2.96 $2.94 $3.25 <-this year 10.54% 31.84% <-Total Growth 10 AEPS Growth 31.84%
Net Income Growth $406.7 $397.2 $227.0 $266.0 $710.0 $663.0 $938.0 $510.0 $945.0 $978.0 $494.0 $965 <-this year 95.38% 21.47% <-Total Growth 10 Net Income Growth 21.47%
Cash Flow Growth $762.5 $674.2 $1,053.0 $1,193.0 $1,193.0 $1,525.0 $1,637.0 $1,185.0 $913.0 $2,241.0 $2,646.0 $2,297 <-this year -13.20% 247.02% <-Total Growth 10 Cash Flow Growth 247.02%
Dividend Growth $1.48 $1.66 $2.00 $2.13 $2.28 $2.38 $2.48 $2.58 $2.68 $2.79 $2.88 $2.90 <-this year 0.85% 95.08% <-Total Growth 10 Dividend Growth 95.08%
Stock Price Growth $38.64 $43.23 $45.39 $46.98 $43.71 $55.79 $54.10 $63.22 $51.75 $50.30 $53.73 $54.40 <-this year 1.24% 39.05% <-Total Growth 10 Stock Price Growth 39.05%
Dividends on Shares $43.23 $51.87 $55.45 $59.35 $61.75 $64.35 $66.95 $69.62 $72.48 $74.82 $75.40 $75.40 $75.40 $619.84 No of Years 10 Total Divs 12/31/14
Paid  $1,004.64 $1,123.98 $1,180.14 $1,221.48 $1,136.46 $1,450.54 $1,406.60 $1,643.72 $1,345.50 $1,307.80 $1,396.98 $1,513.20 $1,513.20 $1,513.20 $1,396.98 No of Years 10 Worth $38.64
Total $2,016.82 Total
Graham No. AEPS $22.96 $26.36 $30.63 $34.72 $42.18 $39.29 $44.90 $42.61 $44.35 $45.89 $51.66 $49.97 $51.48 $54.12 $55.03 $56.41 68.04% <-Total Growth 10 Graham Price AEPS
Price/GP Ratio Med 1.48 1.25 1.14 1.24 1.09 1.07 0.95 1.19 1.16 1.23 1.19 1.03 0.93 1.01 1.12 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 1.54 1.41 1.29 1.36 1.17 1.00 1.05 1.37 1.37 1.38 1.25 1.18 1.00 1.07 1.22 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 1.41 1.10 1.00 1.12 1.00 1.14 0.86 1.01 0.96 1.09 1.12 0.89 0.87 0.95 1.00 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 1.51 1.16 1.26 1.24 1.08 1.20 0.97 1.31 1.22 1.38 1.00 1.01 1.04 1.08 1.06 1.03 1.14 <-Median-> 10 Price/GP Ratio
Prem/Disc Close 51.31% 15.96% 26.13% 24.50% 7.61% 19.58% -2.65% 30.92% 21.99% 37.78% 0.18% 0.66% 4.38% 7.53% 5.76% 3.18% 13.59% <-Median-> 10 Graham Price
Graham No. EPS $22.39 $24.11 $34.45 $38.02 $29.12 $27.89 $46.13 $43.99 $52.67 $38.52 $54.41 $54.88 $39.26 $54.40 $55.06 $57.12 13.96% <-Total Growth 10 Graham Price EPS
Price/GP Ratio Med 1.51 1.37 1.02 1.13 1.57 1.51 0.93 1.15 0.98 1.47 1.13 0.94 1.22 1.01 1.14 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 1.58 1.54 1.14 1.24 1.70 1.41 1.02 1.33 1.15 1.64 1.19 1.07 1.31 1.07 1.28 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 1.45 1.20 0.89 1.02 1.45 1.61 0.83 0.98 0.81 1.30 1.06 0.81 1.13 0.95 1.04 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 1.55 1.27 1.12 1.14 1.56 1.68 0.95 1.27 1.03 1.64 0.95 0.92 1.37 1.07 1.06 1.02 1.20 <-Median-> 10 Price/GP Ratio
Prem/Disc Close 55.13% 26.77% 12.16% 13.69% 55.89% 68.42% -5.24% 26.82% 2.72% 64.13% -4.89% -8.34% 36.86% 6.99% 5.70% 1.89% 20.26% <-Median-> 10 Graham Price
Price Close $34.74 $30.57 $38.64 $43.23 $45.39 $46.98 $43.71 $55.79 $54.10 $63.22 $51.75 $50.30 $53.73 $58.20 $58.20 $58.20 39.05% <-Total Growth 10 Stock Price
Increase 5.15% -12.00% 26.40% 11.88% 5.00% 3.50% -6.96% 27.64% -3.03% 16.86% -18.14% -2.80% 6.82% 8.32% 0.00% 0.00% 19.00 <-Median-> 10 CAPE (10 Yr P/E)
P/E 19.74 18.64 13.70 15.95 34.39 37.89 14.38 20.21 14.31 31.93 14.58 14.09 31.42 17.73 17.30 16.08 -0.75% <-IRR #YR-> 5 Stock Price -3.69%
Trailing P/E 17.63 17.37 23.56 15.33 16.75 35.59 35.25 18.35 19.60 16.72 26.14 14.17 15.05 34.04 17.73 17.30 3.35% <-IRR #YR-> 10 Stock Price 39.05%
CAPE (10 Yr P/E) 17.79 18.06 17.41 17.07 18.15 19.63 18.95 19.29 18.50 19.80 19.06 18.42 19.81 19.94 18.95 17.85 4.11% <-IRR #YR-> 5 Price & Dividend 24.57%
Median 10, 5 Yrs D.  per yr 5.22% 4.86% % Tot Ret 60.92% 118.26% T P/E 17.55 16.72 P/E:  18.08 14.58 8.58% <-IRR #YR-> 10 Price & Dividend 104.57%
Price 15 D.  per yr 5.39% % Tot Ret 50.84% CAPE Diff -6.71% 5.21% <-IRR #YR-> 15 Stock Price 114.32%
Price  20 D.  per yr 5.07% % Tot Ret 49.01% 5.27% <-IRR #YR-> 20 Stock Price 179.41%
Price  25 D.  per yr 5.22% % Tot Ret 49.10% 5.41% <-IRR #YR-> 25 Stock Price 273.13%
Price  30 D.  per yr 5.55% % Tot Ret 50.93% 5.35% <-IRR #YR-> 30 Stock Price
Price  35 D.  per yr 5.54% % Tot Ret 51.78% 5.16% <-IRR #YR-> 32 Stock Price
Price & Dividend 15 10.60% <-IRR #YR-> 15 Price & Dividend 240.35%
Price & Dividend 20 10.34% <-IRR #YR-> 20 Price & Dividend 367.24%
Price & Dividend 25 10.62% <-IRR #YR-> 25 Price & Dividend 553.40%
Price & Dividend 30 10.90% <-IRR #YR-> 30 Price & Dividend
Price & Dividend 35 10.69% <-IRR #YR-> 32 Price & Dividend
Price  5 -$55.79 $0.00 $0.00 $0.00 $0.00 $53.73 Price  5
Price 10 -$38.64 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $53.73 Price 10
Price & Dividend 5 -$55.79 $2.48 $2.58 $2.68 $2.79 $56.61 Price & Dividend 5
Price & Dividend 10 -$38.64 $1.66 $2.00 $2.13 $2.28 $2.38 $2.48 $2.58 $2.68 $2.79 $56.61 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 $53.73 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 $53.73 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 $53.73 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 $53.73 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 $53.73 Price  35
Price & Dividend 15 $1.36 $1.41 $1.48 $1.66 $2.00 $2.13 $2.28 $2.38 $2.48 $2.58 $2.68 $2.79 $56.61 Price & Dividend 15
Price & Dividend 20 $1.36 $1.41 $1.48 $1.66 $2.00 $2.13 $2.28 $2.38 $2.48 $2.58 $2.68 $2.79 $56.61 Price & Dividend 20
Price & Dividend 25 $1.36 $1.41 $1.48 $1.66 $2.00 $2.13 $2.28 $2.38 $2.48 $2.58 $2.68 $2.79 $56.61 Price & Dividend 25
Price & Dividend 30 $1.36 $1.41 $1.48 $1.66 $2.00 $2.13 $2.28 $2.38 $2.48 $2.58 $2.68 $2.79 $56.61 Price & Dividend 30
Price & Dividend 35 $1.36 $1.41 $1.48 $1.66 $2.00 $2.13 $2.28 $2.38 $2.48 $2.58 $2.68 $2.79 $56.61 Price & Dividend 35
Price H/L Median $33.89 $33.02 $34.99 $43.04 $45.82 $42.12 $42.81 $50.69 $51.59 $56.66 $61.22 $51.65 $48.05 $54.82 37.33% <-Total Growth 10 Stock Price
Increase 9.68% -2.57% 5.97% 23.01% 6.47% -8.09% 1.64% 18.42% 1.77% 9.83% 8.06% -15.64% -6.97% 14.10% 3.22% <-IRR #YR-> 10 Stock Price 37.33%
P/E 19.25 20.13 12.41 15.88 34.71 33.96 14.08 18.37 13.65 28.61 17.25 14.47 28.10 16.70 -1.07% <-IRR #YR-> 5 Stock Price -5.22%
Trailing P/E 17.20 18.76 21.33 15.26 16.91 31.91 34.52 16.67 18.69 14.99 30.92 14.55 13.46 32.06 9.02% <-IRR #YR-> 10 Price & Dividend 109.69%
P/E on Running 5 yr Aveage 20.76 19.33 17.78 19.74 22.35 21.64 19.23 22.90 21.25 22.13 20.26 16.51 16.47 19.45 4.31% <-IRR #YR-> 5 Price & Dividend 25.89%
P/E on Running 10 yr Aveage 24.20 22.78 21.66 24.22 25.50 23.54 21.76 24.24 22.39 24.58 24.65 19.29 18.72 20.90 15.52 P/E Ratio Historical Median
Median 10, 5 Yrs D.  per yr 5.80% 5.38% % Tot Ret 64.26% 124.74% T P/E 16.79 14.99 P/E:  17.81 17.25 Count 32 Years of data
-$34.99 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $48.05
-$50.69 $0.00 $0.00 $0.00 $0.00 $48.05
-$34.99 $1.66 $2.00 $2.13 $2.28 $2.38 $2.48 $2.58 $2.68 $2.79 $50.92
-$50.69 $2.48 $2.58 $2.68 $2.79 $50.92
High Months Jul Apr Nov Aug Jul Oct Jan Sep Jan Dec Apr May Jan Feb
Price High $35.32 $37.06 $39.40 $47.22 $49.56 $39.35 $47.19 $58.44 $60.60 $63.35 $64.73 $58.99 $51.54 $58.10 30.81% <-Total Growth 10 Stock Price
Increase 4.96% 4.93% 6.31% 19.85% 4.96% -20.60% 19.92% 23.84% 3.70% 4.54% 2.18% -8.87% -12.63% 12.73% 2.72% <-IRR #YR-> 10 Stock Price 30.81%
P/E 20.07 22.60 13.97 17.42 37.55 31.73 15.52 21.17 16.03 31.99 18.23 16.52 30.14 17.70 -2.48% <-IRR #YR-> 5 Stock Price -11.81%
Trailing P/E 17.93 21.06 24.02 16.74 18.29 29.81 38.06 19.22 21.96 16.76 32.69 16.62 14.44 33.98 17.19 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 18.76 16.76 P/E:  19.70 18.23 21.56 P/E Ratio Historical High
-$39.40 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $51.54
-$58.44 $0.00 $0.00 $0.00 $0.00 $51.54
Low Months Jun Sep Jan Jan Jan Feb  Dec Jan Mar Feb Feb Oct Jul Jan
Price Low $32.45 $28.97 $30.57 $38.85 $42.08 $44.88 $38.42 $42.94 $42.57 $49.96 $57.71 $44.30 $44.55 $51.54 45.73% <-Total Growth 10 Stock Price
Increase 15.32% -10.72% 5.52% 27.09% 8.31% 6.65% -14.39% 11.76% -0.86% 17.36% 15.51% -23.24% 0.56% 15.69% 3.84% <-IRR #YR-> 10 Stock Price 45.73%
P/E 18.44 17.66 10.84 14.34 31.88 36.19 12.64 15.56 11.26 25.23 16.26 12.41 26.05 15.70 0.74% <-IRR #YR-> 5 Stock Price 3.75%
Trailing P/E 16.47 16.46 18.64 13.78 15.53 34.00 30.98 14.13 15.42 13.22 29.15 12.48 12.48 30.14 13.58 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 14.77 13.22 P/E:  15.91 16.26 10.86 P/E Ratio Historical Low
-$30.57 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $44.55
-$42.94 $0.00 $0.00 $0.00 $0.00 $44.55
Free Cash Flow Mkt Scr -$986 -$1,174 -$1,683 -$696 -$505 -$708 -$1,190
Change -19.07% -43.36% 58.65% 27.44% -40.20% -68.08%
Free Cash Flow WSJ -$36 $247 $312 $247 -$27 -$336 -$472 -$970 -$986 -$1,174 -$1,683 -$696 -$839 -$708 -$1,190 -368.91% <-Total Growth 10 Free Cash Flow MS, WSJ
Change 50.68% 786.11% 26.32% -20.83% -110.93% -1144.44% -40.48% -105.51% -1.65% -19.07% -43.36% 58.65% -20.55% 15.61% -68.08% -2.86% <-IRR #YR-> 5 Free Cash Flow MS 13.51%
FCF/CF from Op Ratio -0.09 0.44 0.41 0.37 -0.03 -0.28 -0.40 -0.64 -0.60 -0.99 -1.84 -0.31 -0.32 -0.31 -0.48 #NUM! <-IRR #YR-> 10 Free Cash Flow MS -368.91%
Dividends paid $178 $186 $210 $240 $221 $287 $346 $378 $409 $443 $472 $488 $538 $858 $858 156.19% <-Total Growth 10 Dividends paid
Percentage paid 97.17% -818.52% -85.42% -73.31% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% <-Median-> 10 Percentage paid
5 Year Coverage -94.48% -58.80% -47.31% -38.75% -39.75% -43.70% -54.89% -62.83% -45.50% <-Median-> 6 5 Year Coverage
Dividend Coverage Ratio 1.03 -0.12 -1.17 -1.36 -2.57 -2.41 -2.65 -3.57 -1.43 -1.56 -0.82 -1.39 -1.49 <-Median-> 10 Dividend Coverage Ratio
5 Year of Coverage -1.06 -1.70 -2.11 -2.58 -2.52 -2.29 -1.82 -1.59 -2.20 <-Median-> 6 5 Year of Coverage
$970 $0 $0 $0 $0 -$839
-$312 $0 $0 $0 $0 $0 $0 $0 $0 $0 -$839
Free Cash Flow TD $571 $359 $1,535 $1,671 $1,434 365.46% <-Total Growth 3 Free Cash Flow
Change -37.13% 327.58% 8.86% -14.18% 63.96% <-IRR #YR-> 2 Free Cash Flow MS from TD
FCF/CF from Op Ratio 0.48 0.39 0.68 0.63 0.62 63.96% <-IRR #YR-> 2 Free Cash Flow MS Morning Action
Dividends paid 443.00 472.00 488.00 538.00 858.23 13.98% <-Total Growth 3 Dividends paid Notes
Percentage paid 77.58% 131.48% 31.79% 32.20% 59.85% 54.89% <-Median-> 4 Percentage paid
5 Year Coverage 77.58% 98.39% 56.92% 46.93% 50.26% 67.25% <-Median-> 4 5 Year Coverage
Dividend Coverage Ratio 1.29 0.76 3.15 3.11 1.67 2.20 <-Median-> 4 Dividend Coverage Ratio
5 Year of Coverage 1.29 1.02 1.76 2.13 1.99 1.52 <-Median-> 4 5 Year of Coverage
-$571 0.00 $1,535
-$571 0.00 $1,535
Dividends paid (Calc) $187.71 $212.08 $244.74 $418.99 $487.85 $534.38 $575.89 $622.29 $672.26 $722.79 $791.98 $851.57 $858.82 301.54% <-Total Growth 10 Dividends paid (Calc)
Change 12.98% 15.40% 71.20% 16.44% 9.54% 7.77% 8.06% 8.03% 7.52% 9.57% 7.52% 0.85% 8.80% <-Median-> 10 Change
Dividend Paid in Cash $185.60 $210.00 $240.00 $221.00 $287.00 $346.00 $378.00 $409.00 $443.00 $472.00 $488.00 $538.00 156.19% <-Total Growth 10 Dividend Paid in Cash
Change 13.15% 14.29% -7.92% 29.86% 20.56% 9.25% 9.25% 9.25% 9.25% 9.25% 9.25% 9.25% <-Median-> 10 Change
Covered by Net Income 85.33% 51.64% 60.42% 97.36% 107.89% 48.73% 57.01% 43.60% 86.86% 49.95% 49.90% 108.91% 58.72% <-Median-> 10 Covered by Net Income
5 year average 74.28% 70.92% 68.82% 57.23% 57.46% 67.84% 68.33% <-Median-> 6 5 year average
Dividends Paid in Cash per Share $1.40 $1.46 $1.63 $1.05 $1.25 $1.48 $1.56 $1.63 $1.70 $1.75 $1.72 $1.82 24.47% <-Total Growth 10 Dividends Paid in Cash per Share
Covered by EPS 85.16% 51.79% 60.16% 79.72% 101.17% 48.61% 56.48% 43.03% 85.70% 49.25% 48.11% 106.31% 58.32% <-Median-> 10 Covered by EPS
5 year average 69.23% 65.80% 67.00% 56.62% 56.52% 66.48% 66.14% <-Median-> 6 5 year average
Market Cap $4,550 $4,062 $5,556 $6,364 $9,533 $10,748 $10,233 $13,528 $13,602 $16,505 $13,970 $14,291 $15,901 $17,224 $17,224 $17,224 186.21% <-Total Growth 10 Market Cap
Market Cap/Assets Ratio 0.60 0.46 0.56 0.53 0.33 0.37 0.32 0.42 0.44 0.48 0.35 0.36 0.37 0.40 #DIV/0! #DIV/0! 0.37 <-Median-> 10 MC/Assets Ratio
Diluted # of Shares in Million 125.30 132.90 147.00 146.40 172.20 214 233.0 240.5 248.2 257.6 265.9 273.8 289.2 289.2 96.73% <-Total Growth 10 Diluted
Change -0.71% 6.07% 10.61% -0.41% 17.62% 24.27% 8.88% 3.22% 3.20% 3.79% 3.22% 2.97% 5.62% 0.00% 3.50% <-Median-> 10 Change
Difference Diluted/Basic -0.3% -0.2% -2.6% -0.4% -0.5% -0.5% 0.2% -0.2% -0.2% -0.2% -0.2% 0.3% 0.0% 0.0% -0.16% <-Median-> 10 Difference Diluted/Basic
Average # of Shares in Million 124.90 132.60 143.20 145.80 171.40 213 233.5 239.9 247.8 257.2 265.5 274.6 289.1 289.1 101.89% <-Total Growth 10 Average
Change 3.22% 6.16% 7.99% 1.82% 17.56% 24.27% 9.62% 2.74% 3.29% 3.79% 3.23% 3.43% 5.28% 0.00% 3.61% <-Median-> 10 Change
Difference Basic/Outstanding 4.9% 0.2% 0.4% 1.0% 22.5% 7.4% 0.3% 1.1% 1.5% 1.5% 1.7% 3.5% 2.4% 2.4% 1.59% <-Median-> 10 Difference Basic/Outstanding
# of Share in M 130.98 132.89 143.78 147.21 210.02 228.77 234.12 242.48 251.43 261.07 269.95 284.12 295.94 295.94 295.94 295.94 7.49% <-IRR #YR-> 10 Shares 105.83%
Increase 6.64% 1.46% 8.19% 2.39% 42.67% 8.93% 2.34% 3.57% 3.69% 3.83% 3.40% 5.25% 4.16% 0.00% 0.00% 0.00% 4.07% <-IRR #YR-> 5 Shares 22.05%
CF fr Op $Millon $397.6 $564.2 $762.5 $674.2 $1,053.0 $1,193.0 $1,193.0 $1,525.0 $1,637.0 $1,185.0 $913.0 $2,241.0 $2,646.0 $2,296.8 $2,496.5 $2,491.8 247.02% <-Total Growth 10 Cash Flow
Change -0.48% 41.90% 35.15% -11.58% 56.19% 13.30% 0.00% 27.83% 7.34% -27.61% -22.95% 145.45% 18.07% -13.20% 8.70% -0.19% SO, DRIP E PP, S. Issues
5 year Running Average $350.7 $416.1 $508.0 $559.6 $690.3 $849.4 $975.1 $1,127.6 $1,320.2 $1,346.6 $1,290.6 $1,500.2 $1,724.4 $1,856.4 $2,118.7 $2,434.4 239.42% <-Total Growth 10 CF 5 Yr Running
CFPS $3.04 $4.25 $5.30 $4.58 $5.01 $5.21 $5.10 $6.29 $6.51 $4.54 $3.38 $7.89 $8.94 $7.76 $8.44 $8.42 68.60% <-Total Growth 10 Cash Flow per Share
Increase -6.67% 39.86% 24.91% -13.64% 9.48% 4.01% -2.29% 23.42% 3.52% -30.28% -25.49% 133.21% 13.36% -13.20% 8.70% -0.19% 13.25% <-IRR #YR-> 10 Cash Flow 247.02%
5 year Running Average $2.94 $3.37 $3.89 $4.08 $4.44 $4.87 $5.04 $5.24 $5.62 $5.53 $5.16 $5.72 $6.25 $6.50 $7.28 $8.29 11.65% <-IRR #YR-> 5 Cash Flow 73.51%
P/CF on Med Price 11.16 7.78 6.60 9.40 9.14 8.08 8.40 8.06 7.92 12.48 18.10 6.55 5.37 7.06 0.00 0.00 5.36% <-IRR #YR-> 10 Cash Flow per Share 68.60%
P/CF on Closing Price 11.44 7.20 7.29 9.44 9.05 9.01 8.58 8.87 8.31 13.93 15.30 6.38 6.01 7.50 6.90 6.91 7.29% <-IRR #YR-> 5 Cash Flow per Share 42.16%
-8.97% Diff M/C 4.85% <-IRR #YR-> 10 CFPS 5 yr Running 60.56%
Excl.Working Capital CF $13.6 $13.6 -$35.2 $101.6 -$134.0 $104.0 $116.0 $73.0 -$217.0 $152.0 $234.0 $95.0 -$452.0 $0.0 $0.0 $0.0 3.60% <-IRR #YR-> 5 CFPS 5 yr Running 19.34%
CF fr Op $M WC $411.2 $577.8 $727.3 $775.8 $919.0 $1,297.0 $1,309.0 $1,598.0 $1,420.0 $1,337.0 $1,147.0 $2,336.0 $2,194.0 $2,296.8 $2,496.5 $2,491.8 201.66% <-Total Growth 10 Cash Flow less WC
Increase -6.50% 40.52% 25.87% 6.67% 18.46% 41.13% 0.93% 22.08% -11.14% -5.85% -14.21% 103.66% -6.08% 4.69% 8.70% -0.19% 11.67% <-IRR #YR-> 10 Cash Flow less WC 201.66%
5 year Running Average $367.2 $419.2 $498.4 $586.4 $682.2 $859.4 $1,005.6 $1,179.8 $1,308.6 $1,392.2 $1,362.2 $1,567.6 $1,686.8 $1,862.2 $2,094.1 $2,363.0 6.54% <-IRR #YR-> 5 Cash Flow less WC 37.30%
CFPS Excl. WC $3.14 $4.35 $5.06 $5.27 $4.38 $5.67 $5.59 $6.59 $5.65 $5.12 $4.25 $8.22 $7.41 $7.76 $8.44 $8.42 12.97% <-IRR #YR-> 10 CF less WC 5 Yr Run 238.42%
Increase -12.32% 38.50% 16.34% 4.18% -16.97% 29.56% -1.38% 17.87% -14.30% -9.32% -17.03% 93.50% -9.83% 4.69% 8.70% -0.19% 7.41% <-IRR #YR-> 5 CF less WC 5 Yr Run 42.98%
5 year Running Average $3.08 $3.39 $3.81 $4.28 $4.44 $4.94 $5.19 $5.50 $5.57 $5.72 $5.44 $5.97 $6.13 $6.55 $7.22 $8.05 3.90% <-IRR #YR-> 10 CFPS - Less WC 46.56%
P/CF on Med Price 10.79 7.59 6.92 8.17 10.47 7.43 7.66 7.69 9.13 11.06 14.41 6.28 6.48 7.06 0.00 0.00 2.38% <-IRR #YR-> 5 CFPS - Less WC 12.49%
P/CF on Closing Price 11.07 7.03 7.64 8.20 10.37 8.29 7.82 8.47 9.58 12.34 12.18 6.12 7.25 7.50 6.90 6.91 4.87% <-IRR #YR-> 10 CFPS 5 yr Running 60.84%
*Operational Cash Flow per share CF/-WC P/CF Med 10 yr 8.24 5 yr  7.92 P/CF Med 10 yr 7.93 5 yr  9.13 -5.42% Diff M/C 2.20% <-IRR #YR-> 5 CFPS 5 yr Running 11.48%
-143.78 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 295.94 Shares
-242.48 0.00 0.00 0.00 0.00 295.94 Shares
-$762.5 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $2,646.0 Cash Flow
-$1,525.0 $0.0 $0.0 $0.0 $0.0 $2,646.0 Cash Flow
-$5.30 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $8.94 Cash Flow per Share
-$6.29 $0.00 $0.00 $0.00 $0.00 $8.94 Cash Flow per Share
-$3.89 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $6.25 CFPS 5 yr Running
-$5.24 $0.00 $0.00 $0.00 $0.00 $6.25 CFPS 5 yr Running
-$727.3 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $2,194.0 Cash Flow less WC
-$1,598.0 $0.0 $0.0 $0.0 $0.0 $2,194.0 Cash Flow less WC
-$498.4 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $1,686.8 CF less WC 5 Yr Run
-$1,179.8 $0.0 $0.0 $0.0 $0.0 $1,686.8 CF less WC 5 Yr Run
-$5.06 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $7.41 CFPS - Less WC
-$6.59 $0.00 $0.00 $0.00 $0.00 $7.41 CFPS - Less WC
-$3.81 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $6.13 CFPS 5 yr Running
-$5.50 $0.00 $0.00 $0.00 $0.00 $6.13 CFPS 5 yr Running
Changes in WC
Receivables, net -$109.3 $43.2 -$19.0 -$104.0 -$176.0 -$144.0 $154 $187 -$364 -$636 $653 -$154
Income taxes receivable $26.1 -$2.9 -$21.6 -$23.0 $8.0
Inventory -$26.9 -$41.8 -$2.1 $88.0 $31.0 -$44.0 -$19 $6 -$84 -$214 -$31 $38
Prepaid expenses -$6.7 $0.9 $8.4 -$18.0 $14.0
Due from related party -$3.5 $1.9
Other current assets -$4.1 -$0.8 -$1.6 $13.0
Accounts payable $68.9 -$0.1 -$44.9 $162.0 $3.0 $59.0 -$137 $55 $289 $423 -$538 $536
Income taxes payable $29.4 $0.1 -$31.7 $14.0 -$17.0
Other current liabilities $9.0 $40.1 $9.0 $15.0 $33.0 -$71 -$31 $7 $193 -$179 $32
Othere opteration Activities
                       
Sum -$13.6 $35.2 -$101.6 $134.0 -$104.0 -$116.0 -$73 $217 -$152 -$234 -$95 $452
Google --> TD $180.0 -$72.0 -$72 -$38 $217 -$152 -$234 -$95 $452
Difference -$46.0 -$32.0 -$44 -$35 $0 $0 $0 $0 $0
TD $3 -$120 $134 -$104 -$116 -$73
Difference $32 $18 $0 $0 $0 $0
Now now counting Other Oper Act 2021 2021 2021 2021
OPM 19.31% 25.30% 25.66% 24.17% 24.62% 19.16% 18.29% 24.95% 29.73% 20.56% 12.03% 29.63% 36.75% 27.92% 43.24% <-Total Growth 10 OPM
Increase -0.20% 30.98% 1.42% -5.79% 1.86% -22.17% -4.57% 36.47% 19.14% -30.86% -41.46% 146.27% 24.03% -24.01% Should increase  or be stable.
Diff from Median -20.8% 3.7% 5.2% -0.9% 0.9% -21.5% -25.0% 2.3% 21.9% -15.7% -50.7% 21.5% 50.6% 14.5% 0.00 <-Median-> 10 OPM
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 24.40% 5 Yrs 29.63% should be  zero, it is a   check on calculations
$3,219 <-12 mths 5.61%
Adjusted EBITDA $693.2 $829.5 $946.5 $1,031 $1,744 $2,295 $2,387 $2,339 $2,343 $2,367 $2,687 $2,910 $3,048 $3,481 $3,624 $3,783 222.03% <-Total Growth 10 Adjusted EBITDA
Change 19.66% 14.10% 8.93% 69.16% 31.59% 4.01% -2.01% 0.17% 1.02% 13.52% 8.30% 4.74% 14.21% 4.11% 4.39% 6.52% <-Median-> 10 Change
Margin 33.67% 37.19% 31.85% 36.96% 40.78% 36.86% 36.59% 38.28% 42.55% 41.06% 35.41% 38.48% 42.33% 42.32% 43.27% 42.65% 38.38% <-Median-> 10 Margin
Long Term Debt $3,638 $3,692 $3,755 $4,009 $14,744 $13,140 $14,292 $13,679 $12,339 $14,196 $15,744 $17,807 $18,173 $18,173 383.99% <-Total Growth 10 Debt Type
Change 9.94% 1.48% 1.70% 6.77% 267.77% -10.88% 8.77% -4.29% -9.80% 15.05% 10.90% 13.10% 2.06% 0.00% 113.49% <-Median-> 10 Change Lg Term R
Debt/Market Cap Ratio 0.80 0.91 0.68 0.63 1.55 1.22 1.40 1.01 0.91 0.86 1.13 1.25 1.14 1.06 1.13 <-Median-> 10 Debt/Market Cap Ratio Intang/GW
Assets/Current Liabilities Ratio 7.53 5.80 8.59 5.77 7.85 7.29 7.05 7.64 6.41 7.02 5.45 8.69 8.40 8.40 -2.20% <-Total Growth 10 Assets/Current Liabilities Ratio Liquidity
Current Liabilities/Asset Ratio 0.13 0.17 0.12 0.17 0.13 0.14 0.14 0.13 0.16 0.14 0.18 0.12 0.12 0.12 2.25% <-Total Growth 10 Current Liabilities/Asset Ratio Liq. + CF
Debt to Cash Flow (Years) 9.15 6.54 4.92 5.95 14.00 11.01 11.98 8.97 7.54 11.98 17.24 7.95 6.87 7.91 39.47% <-Total Growth 10 Debt to Cash Flow (Years) Debt Ratio
Leverage
Intangibles $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 #DIV/0! <-Total Growth 10 Intangibles D/E Ratio
Goodwill $193.50 $324.90 $355.80 $456.00 $6,213 $5,805 $6,313 $5,835 $5,720 $5,696 $6,012 $5,871 $5,858 $5,858 1546.43% <-Total Growth 10 Goodwill
Total $193.50 $324.90 $355.80 $456.00 $6,213 $5,805 $6,313 $5,835 $5,720 $5,696 $6,012 $5,871 $5,858 $5,858 1546.43% <-Total Growth 10 Total
Change 67.91% 9.51% 28.16% 1262.50% -6.57% 8.75% -7.57% -1.97% -0.42% 5.55% -2.35% -0.22% 0.00% Change
Intangible/Market Cap Ratio 0.04 0.08 0.06 0.07 0.65 0.54 0.62 0.43 0.42 0.35 0.43 0.41 0.37 0.34 0.43 <-Median-> 10 Intangible/Market Cap Ratio
Current Assets $931.00 $1,161.30 $1,458.60 $2,595.6 $2,511 $2,526 $2,832 $2,486 $2,178 $3,136 $4,896 $3,708 $3,688 $3,688 Liquidity ratio of 1.5 and up, best
Current Liabilities $999.00 $1,529.90 $1,146.60 $2,081.3 $3,724 $3,946 $4,583 $4,166 $4,875 $4,878 $7,287 $4,544 $5,115 $5,115 0.66 <-Median-> 10 Ratio
Liquidity Ratio 0.93 0.76 1.27 1.25 0.67 0.64 0.62 0.60 0.45 0.64 0.67 0.82 0.72 0.72 0.67 <-Median-> 5 Ratio
Liq. with CF aft div 1.15 1.01 1.75 1.45 0.84 0.82 0.76 0.82 0.65 0.75 0.70 1.13 1.07 1.00 0.75 <-Median-> 5 Ratio
Liq. CF re  Inv+Div  0.60 0.63 1.08 1.37 0.25 0.57 0.52 0.59 0.52 0.51 0.52 0.69 0.75 1.00 0.52 <-Median-> 5 Ratio
Curr Long Term Debt $328.30 $94.50 $274.0 $476 $476 $1,119 $501 $1,382 $462 $2,726 $1,062 $234 $501
Liquidity Less CLTD 0.97 1.39 1.44 0.77 0.73 0.82 0.68 0.62 0.71 1.07 1.06 0.76 0.80 0.76 <-Median-> 5 Ratio
Liq. with CF aft div 1.28 1.91 1.67 0.97 0.93 1.01 0.94 0.91 0.83 1.12 1.48 1.12 1.11 1.12 <-Median-> 5 Ratio
Assets $7,527.2 $8,876.8 $9,844.4 $12,012.3 $29,221 $28,771 $32,314 $31,842 $31,234 $34,244 $39,742 $39,480 $42,951 $42,951 Debt Ratio of 1.5 and up, best
Liabilities $5,249.4 $5,979.6 $6,139.0 $7,678.2 $22,405 $21,590 $23,986 $23,241 $21,996 $24,094 $28,301 $27,392 $29,660 $29,660 1.41 <-Median-> 10 Ratio
Debt Ratio 1.43 1.48 1.60 1.56 1.30 1.33 1.35 1.37 1.42 1.42 1.40 1.44 1.45 1.45 1.42 <-Median-> 5 Ratio
Estimates BVPS $41.08 $39.57 $43.31 Estimates Estimates BVPS
Estimate Book Value $12,157.2 $11,710.3 $12,817.2 Estimates Estimate Book Value
P/B Ratio (Close) 1.42 1.47 1.34 Estimates P/B Ratio (Close)
Difference from 10 year median -0.39% Diff M/C Estimates Difference from 10 yr med.
Total Equity $2,278 $2,897 $3,705 $4,334 $6,816 $7,181 $8,328 $8,601 $9,238 $10,150 $11,441 $12,088 $13,291 $13,291 258.69% <-Total Growth 10 Total Equity
NCI $227 $289 $307 $134 $112 $92 $41 $41 $34 $34 $14 $14 $14 $14 -95.43% <-Total Growth 10 Non-Control Int
Emera' Equity $2,050 $2,608 $3,399 $4,200 $6,704 $7,089 $8,287 $8,560 $9,204 $10,116 $11,427 $12,074 $13,277 $13,277 290.64% <-Total Growth 10 Book Value
Book Value per Share $15.65 $19.63 $23.64 $28.53 $31.92 $30.99 $35.40 $35.30 $36.61 $38.75 $42.33 $42.50 $44.86 89.79% <-Total Growth 10 Book Value per Share
P/B Ratio (Median) 2.16 1.68 1.48 1.51 1.44 1.36 1.21 1.44 1.41 1.46 1.45 1.22 1.07 1.42 <-Median-> 10 P/B Ratio (Median)
P/BV 10 yr Med 1.42 5 yr Med 1.41
Preferred Shares $392 $514 $710 $710 $709 $709 $1,004 $1,004 $1,004 $1,422 $1,422 $1,422 $1,422 $1,422 100.42% <-Total Growth 10 Preferred Shares
Book Value $1,659 $2,094 $2,689 $3,491 $5,995 $6,380 $7,283 $7,556 $8,200 $8,694 $10,005 $10,652 $11,855 $11,855 $11,855 $11,855 340.82% <-Total Growth 10 Book Value
Book Value per Share $12.66 $15.76 $18.70 $23.71 $28.54 $27.89 $31.11 $31.16 $32.61 $33.30 $37.06 $37.49 $40.06 $40.06 $40.06 $40.06 114.17% <-Total Growth 10 Book Value per Share
Change 7.10% 24.43% 18.69% 26.77% 20.38% -2.30% 11.55% 0.17% 4.66% 2.11% 11.29% 1.16% 6.85% 0.00% 0.00% 0.00% -4.13% P/B Ratio Current/Historical Median
P/B Ratio (Median) 2.68 2.10 1.87 1.81 1.61 1.51 1.38 1.63 1.58 1.70 1.65 1.38 1.20 1.37 0.00 0.00 1.52 P/B Ratio Historical Median
P/B Ratio (Close) 2.74 1.94 2.07 1.82 1.59 1.68 1.41 1.79 1.66 1.90 1.40 1.34 1.34 1.45 1.45 1.45 7.91% <-IRR #YR-> 10 Book Value per Share 114.17%
Change -1.82% -29.28% 6.49% -11.75% -12.78% 5.94% -16.59% 27.42% -7.35% 14.44% -26.45% -3.91% -0.03% 8.32% 0.00% 0.00% 5.15% <-IRR #YR-> 5 Book Value per Share 28.55%
Leverage (A/BK) 4.54 4.24 3.66 3.44 4.87 4.51 4.44 4.21 3.81 3.94 3.97 3.71 3.62 3.62 3.96 <-Median-> 10 A/BV
Debt/Equity Ratio 3.16 2.86 2.28 2.20 3.74 3.38 3.29 3.08 2.68 2.77 2.83 2.57 2.50 2.50 2.80 <-Median-> 10 Debt/Eq Ratio
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Med 1.59 5 yr Med 1.58 -8.82% Diff M/C 3.48 Historical 30 A/BV
-$18.70 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $40.06
-$31.16 $0.00 $0.00 $0.00 $0.00 $40.06
Comprehensive Income $141.50 $609.40 $542.8 $964.5 $236 -$6 $1,253 $465 $810 $665 $1,562 $772 $1,524 180.77% <-Total Growth 10 Comprehensive Income
NCI $12.20 $26.80 $31.6 $52.8 $8 $0 $4 $1 $1 $1 $1 $1 $1 NCI
Preferred $11.10 $19.80 $26.2 $30.3 $0 $0 $0 $0 $0 $0 $0 $0 $0 Preferred
Shareholders $118.20 $562.80 $485.0 $881.4 $228 -$6 $1,249 $464 $809 $664 $1,561 $771 $1,523 214.02% <-Total Growth 10 Comprehensive Income
Increase -11.53% 376.14% -13.82% 81.73% -74.13% -102.63% 20916.67% -62.85% 74.35% -17.92% 135.09% -50.61% 97.54% 74.35% <-Median-> 5 Comprehensive Income
5 Yr Running Average $161.40 $217.18 $302.54 $436.20 $455.08 $430.24 $567.48 $563.28 $548.80 $636.00 $949.40 $853.80 $1,065.60 12.12% <-IRR #YR-> 10 Comprehensive Income 214.02%
ROE 7.1% 26.9% 18.0% 25.3% 3.8% -0.1% 17.1% 6.1% 9.9% 7.6% 15.6% 7.2% 12.8% 26.83% <-IRR #YR-> 5 Comprehensive Income 228.23%
5Yr Median 9.20% 9.20% 13.10% 18.03% 18.03% 18.03% 17.15% 6.14% 6.14% 7.64% 9.87% 7.64% 9.87% 13.42% <-IRR #YR-> 10 5 Yr Running Average 252.22%
% Difference from NI -46.5% 158.8% 19.3% 121.9% 0.4% -102.3% 75.9% -30.0% -13.8% 30.2% 65.2% -21.2% 208.3% 13.60% <-IRR #YR-> 5 5 Yr Running Average 89.18%
Median Values Diff 5, 10 yr 15.3% 30.2% 9.9% <-Median-> 5 Return on Equity
-$485 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,523
-$464 $0 $0 $0 $0 $1,523
-$303 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,066
-$563 $0 $0 $0 $0 $1,066
Current Liability Coverage Ratio 0.41 0.38 0.63 0.37 0.25 0.33 0.29 0.38 0.29 0.27 0.16 0.51 0.43 0.45   CFO / Current Liabilities
5 year Median 0.41 0.41 0.49 0.41 0.38 0.37 0.33 0.33 0.29 0.29 0.29 0.29 0.29 0.43 31.0% <-Median-> 10 Current Liability Cov Ratio
Asset Efficiency Ratio 5.46% 6.51% 7.39% 6.46% 3.14% 4.51% 4.05% 5.02% 4.55% 3.90% 2.89% 5.92% 5.11% 5.35% CFO / Total Assets
5 year Median 6.03% 6.26% 6.35% 6.46% 6.46% 6.46% 4.51% 4.51% 4.51% 4.51% 4.05% 4.55% 4.55% 5.11% 4.5% <-Median-> 10 Return on Assets 
Return on Assets ROA 2.93% 2.45% 4.13% 3.31% 0.78% 0.92% 2.20% 2.08% 3.00% 1.49% 2.38% 2.48% 1.15% 2.25% Net  Income/Assets Return on Assets
5Yr Median 3.02% 3.02% 3.02% 3.31% 2.93% 2.45% 2.20% 2.08% 2.08% 2.08% 2.20% 2.38% 2.38% 2.25% 2.1% <-Median-> 10 Asset Efficiency Ratio
Return on Equity ROE 13.31% 10.39% 15.12% 11.38% 3.79% 4.17% 9.75% 8.77% 11.44% 5.87% 9.45% 9.18% 4.17% 8.14% Net Inc/ Shareholders' equity Return on Equity
5Yr Median 11.75% 11.75% 13.31% 13.31% 11.38% 10.39% 9.75% 8.77% 8.77% 8.77% 9.45% 9.18% 9.18% 8.14% 9.0% <-Median-> 10 Return on Equity
$354.04 <-12 mths -28.33%
Net Income $245.60 $255.30 $452.8 $452.4 $266 $299 $747 $710 $984 $561 $1,009 $1,045 $568
NCI $13.70 $18.50 $19.9 $24.9 $11 $5 $1 $2 $1 $1 $1 $1 $1
Preferred $11.10 $19.30 $26.2 $30.3 $28 $28 $36 $45 $45 $50 $63 $66 $73
Shareholders $220.80 $217.50 $406.7 $397.2 $227 $266 $710 $663 $938 $510 $945 $978 $494 $965 $1,018 $1,094 21.47% <-Total Growth 10 Net Income
Increase -8.42% -1.49% 86.99% -2.34% -42.85% 17.18% 166.92% -6.62% 41.48% -45.63% 85.29% 3.49% -49.49% 95.38% 5.47% 7.47% EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average $194.7 $209.2 $255.4 $296.7 $293.8 $302.9 $401.4 $452.6 $560.8 $617.4 $753.2 $806.8 $773.0 $778.4 $880.0 $909.8 1.96% <-IRR #YR-> 10 Net Income 21.47%
Operating Cash Flow $397.60 $564.20 $762.50 $674.20 $1,053 $1,193 $1,193 $1,525 $1,637 $1,185 $913 $2,241 $2,646 -5.71% <-IRR #YR-> 5 Net Income -25.49%
Investment Cash Flow -$919.40 -$921.60 -$710.90 -$123.70 -$9,105 -$1,761 -$2,190 -$1,617 -$1,224 -$2,332 -$2,569 -$2,917 -$2,218 11.71% <-IRR #YR-> 10 5 Yr Running Ave. 202.62%
Total Accruals $742.60 $574.90 $355.10 -$153.30 $8,279 $834 $1,707 $755 $525 $1,657 $2,601 $1,654 $66 11.30% <-IRR #YR-> 5 5 Yr Running Ave. 70.78%
Total Assets $7,527.2 $8,876.8 $9,844.4 $12,012.3 $29,221 $28,771 $32,314 $31,842 $31,234 $34,244 $39,742 $39,480 $42,951 Balance Sheet Assets
Accruals Ratio 9.87% 6.48% 3.61% -1.28% 28.33% 2.90% 5.28% 2.37% 1.68% 4.84% 6.54% 4.19% 0.15% 4.19% <-Median-> 5 Ratio
EPS/CF Ratio 0.56 0.38 0.56 0.51 0.30 0.22 0.54 0.42 0.67 0.39 0.84 0.43 0.23 0.43 <-Median-> 10 EPS/CF Ratio
-$407 $0 $0 $0 $0 $0 $0 $0 $0 $0 $494
-$663 $0 $0 $0 $0 $494
-$255 $0 $0 $0 $0 $0 $0 $0 $0 $0 $773
-$453 $0 $0 $0 $0 $773
Change in Close 5.15% -12.00% 26.40% 11.88% 5.00% 3.50% -6.96% 27.64% -3.03% 16.86% -18.14% -2.80% 6.82% 8.32% 0.00% 0.00% Count 30 Years of data
up/down down down down down down down Count 9 30.00%
Meet Prediction? yes yes % right Count 3 33.33%
Financial Cash Flow $525.0 $362.1 $58.2 $221.1 $7,448 -$13 $344 $14 -$372 $1,311 $1,555 $939 -$818 C F Statement  Financial CF
Total Accruals $217.60 $212.80 $296.90 -$374.40 $831 $847 $1,363 $741 $897 $346 $1,046 $715 $884 Accruals
Accruals Ratio 2.89% 2.40% 3.02% -3.12% 2.84% 2.94% 4.22% 2.33% 2.87% 1.01% 2.63% 1.81% 2.06% 2.06% <-Median-> 5 Ratio
Cash $77.50 $100.80 $221.10 $1,073.40 $404 $503 $372 $274 $254 $417 $332 $588 $221 $221 Cash
Cash per Share $0.59 $0.76 $1.54 $7.29 $1.92 $2.20 $1.59 $1.13 $1.01 $1.60 $1.23 $2.07 $0.75 $0.75 $1.23 <-Median-> 5 Cash per Share
Percentage of Stock Price 1.70% 2.48% 3.98% 16.87% 4.24% 4.68% 3.64% 2.03% 1.87% 2.53% 2.38% 4.11% 1.39% 1.28% 2.38% <-Median-> 5 % of Stock Price
Notes:
February 28, 2025.  Last estimates were for 2024, 2025, 2026 of $7774M, $8154M, $8698M for Revenue, $5.78, $4.80 2024/5 AFFO, $3.21, $3.41, $3.61 AEPS, $3.23, $3.40 and $3.70 EPS, 
$2.88, $2.99 and $3.10 dividends, -$304.6M, -$405M, $467M FCF MS, $1671M, $1454M 2024/5 FCF TD, $8.19, $8.17, $8.41 CFPS, $3273M, $3430M, $3626M EBITDA, $38.20, $39.10, $40.80 BVPS, $920M, $1005M, $1106M Net Income.
March 2, 2024.  Last estimates were for 2023, 2024 and 2025 of $7092M, $7394M and $7690M for Revenue, $4.86, $5.35 2023/4 for AFFO, $3.21, $3.34 and $3.57 for AEPS, $$3.19, 
$3.36 and $3.58 for EPS, $2.78, $2.89 and $3.01 for Dividends, -$457 and 35.3 2023/4 for FCF, $7.78, $8.38 and $8.20 for CFPS, $38.90, $37.40 and $41.10 for BVPS, $872M, $940M and $1006M for Net Income.
February 26, 2023.  Last estimates were for 2022, 2023 and 2024 of $6843M, $6718M and $6711M for Revenue, $4.28 and 4.64 for AFFO 2022/23, $3.09 and $3.22 for AEPS 2022/23, 
$3.05, $3.26 and $3.52 for EPS, $2.67, $2.78 and $2.89 for Dividends, -$865M,-$521M and -$516M for FCF, $7.32, $7.50 and $8.00 for CFPS, $34.40, $56.60 and $36.80 for BVPS, $807M, $878M and $960M for Net Income.
March 6, 2022.  Last estimates were for 2021, 2022 and 2023 of $6247M, $6281M and $5996M for Revenue, $3.69 and $4.07 for AFFO for 2021-22, $2.85, $3.11 and $3.40 for EPS, 
$2.58, $2.68 and $2.78 for Dividends, $895M, $474M and $645M for FCF, $6.97 and $7.41 for CFPS for 2021-22 and $729M, $812M and $855M for Net Income.
February 28, 2021.  Last estimates were for 2020, 2021 and 2022 of $6307M, $6379M and $6721M for Revenue, $3.60 and $3.94 for AFFO for 2020 and 2021, 
$2.81, $3.01 and $3.22 for EPS, $2.48, $2.58 and $2.69 for Dividends, $828M, $614M and $667M for FCF and $685M, $750M and $846M for Net Income.
February 22, 2020.  Last estimates were for 2019, 2020 and 2021 of $6710M, $6824M and $7216M for Revenue, 
$3.87 and $3.68 for AFFO for 2019 and 2020, $2.85, $2.93 and $2.97 for EPS and $674M, $729M and $801M for Net Income.
February 16, 2019.  Last estimates were for 2018, 2019 and 2020  of $7254M, $7.89M and $7360M for Revenue, $3.02 and $.46 for AFFO for 2018 and 2019, 
$6.89, $7.15 and $6.67 for CFPS and $626M, $673M and $7.25M for Net Income.
February 16, 2018.  Last estimates were for 2017, 2018 smnf 2019 og $7047M, $7342M and $7657M for Revenue, $2.98, $3.85 FFO for 2017 and 2018, 
$2.77, $3.04 and $3.05 for EPS, $6.12, $6.64 and $7.45 for CFPS and $531M, $599M and $659M for Net Income.
February 14, 2017.  Last estimates were for 2016, 2017 and 2018 of $5411M, $7103M and $5275M for revenue, $2.62 and $3.23 for AFFO for 2016 and 2017, $2.42, $2.80 and $3.10 for EPS, 
$5.89 and $8.08 for CFPS for 2016 and 2017 and $393M and $561M for Net Income for 2016 and 2017.
February 12, 2016.  Last estimaes were for 2015 and 2016 of $2960M and $3123M for Revenue, $2.27 and $2.29 for AFFO, $2.11, $2.20 and $2.40 for EPS fore 2015, 2016 and 2017, $4.18 and $4.35 for CFPS.
Sept 2015.  Emera issues Debentures EMA.IR to pay for the purchase of TECO Energy Inc.  A Florida and New Mexico regulated electric and gas utility holding company.
http://www.marketwired.com/press-release/emera-inc-announces-19-billion-bought-deal-offering-convertible-debentures-represented-tsx-ema-2053243.htm
February 11, 2015. Last estimates were for 2014 and 2015 of $2449M and $2581.7M for Revenue, $2.00 and $1.16 for AFFO, $1.86 and $1.99 for EPS, 
$4.08 and $4.29 for CFPS, $261M and $282M for Net Income.
February 12, 2014.  Last estimates were for 2013 and 2014 of $2078M and $2218M for Revenue, $1.97 and $1.96 for AFFO, $1.77 and $1.90 for EPS and $3.65 (2013) for CFPS.
March 2013.  Good Utility.  Debt Ratios a bit off.
Feb 24, 2013.  Last estimates were fore 2012 and 2013 and were $2538M and $2722M for revenue, $1.67 and $1.80 for EPS and $3.55 and $3.65 for CFPS.
Mar 17, 2012.  Last I looked I got estimates for 2011 and 2012 of $4600 and $1634 for revenue, $1.79 and $1.88 for EPS and $3.11 and $3.38 for CF.
LOOK AT COMMENTS ON EMERA DATED DECEMBER 31, 2011.  TALK ABOUT.  COST OF WIND MILL PRODUCED ELELECTRICY WHICH NS POWER HAS TO PRODUCE.
June 6, 2011.  when I last looked I got 2010 and 2011 earnings of $1.55 amd $1.58 and Cash Flow of $3.13 and $3.17
Mar 9, 2010.  In Aug 2009, I picked up for 2009 and 2010 earnings of $1.43 and $1.45 and cash flow of $3.05 and $3.08.
What you look for in a utilities stock is that you get a total return of about 8% per year, 4% in dividends and 4% in Capital Gains.  My return since Jul 2005 is 10.5%.  Very good.
Aug 17,2009.  In April 2009, I picked up earnings for 2009 and 2010 of $1.39 and $1.45.  Earnings for 2009 has increased slightly to $1.43
April 30, 2009 AR 2008.  In Sep 2008, I picked up an earnings estiamte of $1.35, but it came in at $1.29, Diluted $1.26.  This company is expected to do well over the next couple of years.
The Book Value is not increasing by much, but then this company pays a high dividend.  When taken into consideration the dividend, the full return on this stock is fine.  
None of the values are increasing by much.  I good return on this sort of stock is 8%, including dividends.
AP 2007.  It seems solid, but slow. Recommend keeping  for now, but not buying more.  Dividends have finally started to increase, But revenue is not growing over last 5 yrs.
AR 2006.  Revenus and EPS growth suck.  However, dividend yield is high as is ROE and OPM. For last 5 years, Price plus dividend growth is IRR of 10% which is good.
In April 2007, re Mike, yield is below historical high and average, which means the price is high, therefore price will probably come down.
AR 2005.  I have lost so far 25% on this stock, but only invested some 4,000, so not too bad.  I guess I invested at wrong time in Jan.  Apparently I bought it at the top. TD recommends as a hold since May 2005???
AR 2005  I am also annoyed at this stock as the annual report was hard to find and they seem to have restate values, especially revenues without saying so.
AR 2004.  The dividend is good, and it increases slightly each year.  However, I do not know if that is a good enough reason to buy this sock.  
Half the money made on this stock is from dividends.  Low risk stock.  10 to 11 IRR not bad. AR 2004
Emera was created out of the privatization of the provincial Crown corporation Nova Scotia Power Incorporated (NSPI).
Common shares in NS Power Holdings Inc. began trading on the Toronto Stock Exchange and Montreal Stock Exchange on January 6, 1999. 
The NS Power Holdings Inc. name was changed to Emera Incorporated on July 17, 2000.
Sector:
Power, Utilities (Regulated)
What should this stock accomplish?
You would expect that the stock onver the long term will provide for a good dividend and moderate increases.
Would I buy this company and Why.
Yes I do like this utility.  
Why am I following this stock. 
I found this company in Mike Higg’s site. Mike’s site has a spreadsheet showing Dividend Paying Canadian Growth stocks.  
Why I bought this stock.
I first bought this stock in 2005, as I wanted to buy something for my Locked in RRSP.  I think that this was an appropriate stock and has good value. I was using up excess cash in my account.
Dividends
Dividend are paid quarterly in cycle 2, that is February, May, August and November.  They are paid near the middle of the month.  Dividend are paid to shareholders of record of the first of the month or last of previous month for the current month.
For example, the dividend payable on August 15, 2013 was for shareholders of record for July 31, 2013.  However, the dividend payabale on May 15, 2013 was for shareholders of record of May 1, 2013.
Misson Statement or closes thing I can find.
What I am looking for is a statement that the company wants to do well by their customers, employees, and community and and thereby earn shareholders a reasonable return.
Emera says they are working to create cleaner energy and deliver it to market. Our success comes from integrating our diverse investments to get solid results for shareholders, partners and customers. 
They also say they maintain high standards in safety, reliability, customer service and environmental care.
How they make their money
Emera is a geographically diverse energy and services company investing in electricity generation, transmission, and distribution as well as gas transmission and 
utility energy services. Emera has operations throughout North America and the Caribbean countries.
For most ratios, lower is better when looking for a good stock price.  However, there are exceptions such as for yield and asset/liability ratios and here you want a higher ratios to indicate a good stock price.  
Also, for the Operational Profit Margin, a higher percentage is better.  With the OPM, you should only compare companies in similar industries.
Shares; '%, Value $M %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Change
Date 2017 Feb 16 2018 Feb 16 2019 Feb 22 2020 Feb 28 2021 Mar 6 2022 Feb 26 2023 Mar 2 2024 Feb 28 2025
Balfour, Scott Carlyle 0.01% 0.045 0.02% 0.045 0.02% 0.051 0.02% 0.058 0.02% 0.060 0.02% 0.069 0.02% 0.107 0.04% 0.108 0.04% 0.83%
COO - Shares - Amount $1.537 $1.976 $2.523 $2.743 $3.672 $3.125 $3.480 $5.756 $6.287
Options - percentage 0.15% 0.410 0.18% 0.624 0.26% 0.813 0.32% 1.385 0.53% 1.540 0.57% 1.540 0.54% 1.729 0.58% 2.479 0.84% Used to be CFO, now COO 43.40%
Options - amount $15.590 $17.928 $34.815 $44.005 $87.560 $79.688 $77.455 $92.875 $144.265 CEO from Mar 2018
Huskilson, Christopher 0.04% 0.093 0.04%
CEO - Shares - Amount $3.832 $4.046
Options - percentage 0.77% 2.195 0.94%
Options - amount $82.512 $95.948
Blunden, Gregory 0.00% 0.000 0.00% 0.001 0.00% 0.001 0.00% 0.001 0.00% 0.001 0.00% 0.002 0.00% 0.002 0.00% 0.003 0.00% 25.80%
CFO - Shares - Amount $0.056 $0.019 $0.038 $0.051 $0.072 $0.074 $0.091 $0.123 $0.168
Options - percentage 0.03% 0.121 0.05% 0.183 0.08% 0.228 0.09% 0.260 0.10% 0.311 0.12% 0.311 0.11% 0.368 0.12% 0.565 0.19% 53.54%
Options - amount $3.461 $5.306 $10.227 $12.358 $16.453 $16.084 $15.633 $19.758 $32.861
Gregg, Peter Holden 0.002 0.00% 0.006 0.00% 0.007 0.00% 0.007 0.00% 0.007 0.00% 5.79%
Officer - Shares - Amount $0.126 $0.311 $0.336 $0.377 $0.432
Options - percentage 0.228 0.09% 0.054 0.02% 0.058 0.02% 0.098 0.03% 0.215 0.07% 119.43%
Options - amount $14.416 $2.779 $2.931 $5.266 $12.517
Karen Hutt 0.002 0.00% 0.002 0.00% 11.07%
Officer - Shares - Amount $0.106 $0.128
Options - percentage 0.227 0.08% 0.363 0.12% 60.04%
Options - amount $12.173 $21.102
Bennett, Robert Ross 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% 0.003 0.00% 0.003 0.00% Updated Mar 2024 3.30%
Officer - Shares - Amount $0.223 $0.113 $0.145 $0.140 $0.164 $0.137 $0.137 $0.150 $0.168
Options - percentage 0.06% 0.186 0.08% 0.232 0.10% 0.191 0.08% 0.180 0.07% 0.180 0.07% 0.180 0.06% 0.086 0.03% 0.086 0.03% 0.00%
Options - amount $6.871 $8.137 $12.953 $10.331 $11.396 $9.328 $9.067 $4.630 $5.016
Bertram, James Vance 0.000 0.00% 0.006 0.00% 0.014 0.00% 0.014 0.00% 0.014 0.00% 0.00%
Director - Shares - Amount $0.000 $0.335 $0.713 $0.761 $0.825
Options - percentage 0.013 0.00% 0.019 0.01% 0.024 0.01% 0.031 0.01% 0.040 0.01% 26.62%
Options - amount $0.809 $0.969 $1.224 $1.691 $2.319
Demone, Henry 0.009 0.00% 0.009 0.00% 0.011 0.00% 19.89%
Director - Shares - Amount $0.456 $0.487 $0.632
Options - percentage 0.038 0.01% 0.043 0.01% 0.049 0.02% 13.47%
Options - amount $1.908 $2.318 $2.849
Sheppard, Mary Jacqueline 0.01% 0.012 0.01% 0.012 0.00% 0.012 0.00% 0.012 0.00% 0.012 0.00% 0.012 0.00% 0.012 0.00% 0.012 0.00% 0.00%
Chairman - Shares - Amt $0.561 $0.522 $0.667 $0.646 $0.755 $0.618 $0.601 $0.642 $0.695
Options - percentage 0.02% 0.055 0.02% 0.066 0.03% 0.079 0.03% 0.090 0.03% 0.103 0.04% 0.115 0.04% 0.130 0.04% 0.148 0.05% 13.50%
Options - amount $2.046 $2.384 $3.699 $4.258 $5.694 $5.315 $5.781 $6.997 $8.602
Increase in O/S Shares 0.30% 0.100 0.04% 0.020 0.01% 2.570 1.06% 0.420 0.17% 0.330 0.13% 0.034 0.01% 0.620 0.22% 0.600 0.20% Average 12.10%
due to SO  $28.142 $4.698 $0.874 $143.380 $22.722 $20.863 $1.760 $31.186 $32.238
Book Value $17.000 $3.000 $1.000 $104.000 $20.000 $14.000 $2.000 $31.000 $28.000
Insider Buying -$1.005 -$1.866 -$0.063 -$0.163 -$0.535 -$0.391 -$0.970 -$3.173 -$1.040
Insider Selling $26.168 $1.823 $0.329 $34.518 $2.430 $4.297 $2.198 $2.097 $2.327
Net Insider Selling $25.163 -$0.043 $0.267 $34.355 $1.896 $3.906 $1.228 -$1.076 $1.287
% of Market Cap 0.23% 0.00% 0.00% 0.25% 0.01% 0.03% 0.01% -0.01% 0.01%
Directors 13 14 12 12 13 12 11 12
Women 33% 4 31% 4 29% 4 33% 5 42% 5 38% 5 42% 5 45% 5 42%
Minorities 0% 0 0% 0 0% 0 0% 0 0% 1 8% 1 8% 1 9% 1 8%
Institutions/Holdings 22.08% 13 27.63% 12 36.52%
Total Shares Held 0.37% 2.763 1.18% 1.411 0.60%
Increase/Decrease -1.32% 0.071 2.63% 0.004 0.26%
Starting No. of Shares Rueters 2.692 Rueters 1.408 Rueters
Institutions/Holdings 38.00% 8 1.59% 6 0.08% 20 19.37% 20 27.43% 20 22.54% 20 20.85% 20 21.12% 20 21.62%
Total Shares Held 0.35% 3.643 1.56% 0.179 0.08% 43.211 18.46% 68.973 26.42% 58.868 21.81% 56.293 19.81% 60.374 20.40% 64.374 21.75%
Increase/Decrease 197.58% 1.651 82.85% -0.326 -64.51% -2.660 -5.80% -1.246 -1.77% 0.041 0.07% 0.755 1.36% -2.392 -3.81% -0.192 -0.30%
Starting No. of Shares NASDAQ 1.992 NASDAQ 0.505 NASDAQ 45.870 Top 20 MS 70.219 Top 20 MS 58.827 Top 20 MS 55.537 Top 20 MS 62.766 Top 20 MS 64.566 Top 20 MS
Institutions/Holdings 203 30.26% 288 25.62%
In M$ $3,251.85 $3,484.64
Total Shares Held 26.66% 72.000 30.75% 48.000 20.50%
In M$ $3,382.56 $2,255.04
Increase/Decrease 8.93% 6.000 9.09% -11.000 -18.64%
Starting No. of Shares Morningstar/td> 66.000 Morningstar 59.000 Morningstar
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