This report is for educational purposes only, and not to provide investment advice.  Before making any investment decision, you should always do your own research or consult a investment professional.
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet.														Estimates	Estimates	Estimates
See my website on stocks or see my blog at the following sites.							https://spbrunner.com/stocks.html				https://spbrunner.blogspot.com/			12/31/24	<-12 mths
Metro Inc					TSX:	MRU	OTC:	MTRAF	https://corpo.metro.ca/en/home.html			Fiscal Yr:	Sept 30	Q1 2024	from Dec 24
Year	9/24/11	9/29/12	9/28/13	9/27/14	9/26/15	9/24/16	9/24/17	9/29/18	9/28/19	9/26/20	9/25/21	9/24/22	9/30/23	9/29/24	9/29/25	9/29/26		Value	Description	#Y	Item	Total G
Accounting Rules	C GAAP	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS					Accounting Rules
Split Date					2/12/15
Split					3
Cost of Sales (& Operation Expenses)			$9,200.8	$9,375.6	$9,813.5	$10,271.1	$10,579.6	$11,556.5	$13,438.8	$14,415.7	$14,628.2	$15,105.6	$16,642.4					80.88%	<-Total Growth	10	Cost of Sales (& OpExpenses)
Change				1.90%	4.67%	4.66%	3.00%	9.23%	16.29%	7.27%	1.47%	3.26%	10.17%					4.67%	<-Median->	10	Change
Ratio			0.81	0.81	0.80	0.80	0.80	0.86	0.80	0.80	0.80	0.80	0.80					0.80	<-Median->	10	Ratio
Operating Expenses Finance			$1,443.2	$1,476.0	$1,552.5	$1,646.9	$1,693.2	$1,955.6	$2,144.0	$2,035.0	$2,055.8	$2,082.6	$2,239.4					55.17%	<-Total Growth	10	Operating Expenses Finance
Change				2.27%	5.18%	6.08%	2.81%	15.50%	9.63%	-5.08%	1.02%	1.30%	7.53%					4.00%	<-Median->	10	Change
Ratio			0.13	0.13	0.13	0.13	0.13	0.15	0.13	0.11	0.11	0.11	0.11					0.13	<-Median->	10	Ratio
Total			$10,644.0	$10,851.6	$11,366.0	$11,918.0	$12,272.8	$13,512.1	$15,582.8	$16,450.7	$16,684.0	$17,188.2	$18,881.8					77.39%	<-Total Growth	10	Total
Change				1.95%	4.74%	4.86%	2.98%	10.10%	15.32%	5.57%	1.42%	3.02%	9.85%					4.80%	<-Median->	10	Change
Ratio			0.93	0.94	0.93	0.93	0.93	1.01	0.93	0.91	0.91	0.91	0.91					0.93	<-Median->	10	Ratio
														$20,949	<-12 mths	1.08%
Revenue*	$11,431	$12,011	$11,403	$11,590	$12,224	$12,788	$13,175	$13,383	$16,768	$17,998	$18,283	$18,889	$20,725	$21,173	$21,868	$22,733		81.75%	<-Total Growth	10	Revenue
Increase	0.72%	5.08%	-5.06%	1.65%	5.46%	4.61%	3.03%	1.58%	25.29%	7.34%	1.59%	3.31%	9.72%	2.16%	3.28%	3.96%		6.16%	<-IRR #YR->	10	Revenue	81.75%
5 year Running Average	$11,069	$11,342	$11,478	$11,557	$11,732	$12,003	$12,236	$12,632	$13,668	$14,822	$15,921	$17,064	$18,532	$19,413	$20,188	$21,078		9.14%	<-IRR #YR->	5	Revenue	54.85%
Revenue per Share	$37.69	$41.20	$41.47	$45.59	$50.45	$54.53	$57.86	$52.23	$65.90	$71.76	$75.12	$79.72	$90.52	$92.48	$95.51	$99.29		4.91%	<-IRR #YR->	10	5 yr Running Average	61.46%
Increase	4.7%	9.3%	0.7%	9.9%	10.7%	8.1%	6.1%	-9.7%	26.2%	8.9%	4.7%	6.1%	13.5%	2.2%	3.3%	4.0%		7.97%	<-IRR #YR->	5	5 yr Running Average	46.71%
5 year Running Average	$34.28	$36.32	$38.15	$40.39	$43.28	$46.65	$49.98	$52.13	$56.19	$60.46	$64.57	$68.95	$76.60	$81.92	$86.67	$91.51		8.12%	<-IRR #YR->	10	Revenue per Share	118.26%
P/S (Price/Sales) Med	0.41	0.42	0.53	0.49	0.62	0.77	0.74	0.80	0.74	0.80	0.79	0.84	0.81	0.76	0.00	0.00		11.63%	<-IRR #YR->	5	Revenue per Share	73.32%
P/S (Price/Sales) Close	0.40	0.47	0.52	0.54	0.71	0.79	0.74	0.77	0.89	0.89	0.82	0.87	0.78	0.74	0.72	0.69		7.22%	<-IRR #YR->	10	5 yr Running Average	100.80%
*Sales in M CDN $					P/S Med	20 yr	0.51	15 yr	0.74	10 yr	0.78	5 yr	0.80		-4.54%	Diff M/C		8.00%	<-IRR #YR->	5	5 yr Running Average	46.95%
			-$11,403	$0	$0	$0	$0	$0	$0	$0	$0	$0	$20,725
								-$13,383	$0	$0	$0	$0	$20,725
			-$11,478	$0	$0	$0	$0	$0	$0	$0	$0	$0	$18,532
								-$12,632	$0	$0	$0	$0	$18,532
			-$41.47	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$90.52
								-$52.23	$0.00	$0.00	$0.00	$0.00	$90.52
			-$38.15	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$76.60
								-$52.13	$0.00	$0.00	$0.00	$0.00	$76.60
														$4.29	<-12 mths	-0.23%
Adjusted Net Earnings CDN$	$398.8	$460.6	$460.7	$460.9	$523.6	$586.2	$548.2	$605.9	$731.6	$892.1	$854.2	$922.1	$1,006.6					118.49%	<-Total Growth	10	AEPS
Return on Equity ROE	15.53%	18.10%	16.42%	17.27%	19.81%	21.87%	18.83%	10.74%	12.29%	14.52%	13.35%	13.96%	14.80%					14.52%	<-Median->	9	Return on Equity ROE
5Yr Median	15.53%	15.76%	15.94%	16.42%	17.27%	18.10%	18.83%	18.83%	18.83%	14.52%	13.35%	13.35%	13.96%					17.27%	<-Median->	9	5Yr Median
Basic	$1.29	$1.55	$1.62	$1.76	$2.10	$2.47	$2.40	$2.54	$2.87	$3.54	$3.47	$3.84	$4.33					167.27%	<-Total Growth	10	AEPS
Pre-Split 2015	$3.85	$4.55	$4.73	$5.13
AEPS* Dilued	$1.28	$1.52	$1.58	$1.71	$2.03	$2.39	$2.31	$2.52	$2.84	$3.27	$3.44	$3.82	$4.30	$4.25	$4.76	$4.80		172.73%	<-Total Growth	10	AEPS
Increase	7.24%	18.18%	3.96%	8.46%	18.71%	17.73%	-3.35%	9.09%	12.70%	15.14%	5.20%	11.05%	12.57%	-1.16%	12.00%	0.84%		10	0	10	Years of Data, EPS P or N	100.00%
5 year Running Average	$1.05	$1.18	$1.33	$1.46	$1.62	$1.84	$2.00	$2.19	$2.42	$2.67	$2.88	$3.18	$3.53	$3.82	$4.11	$4.39		10.55%	<-IRR #YR->	10	AEPS	172.73%
AEPS Yield	8.61%	7.79%	7.31%	6.94%	5.64%	5.55%	5.38%	6.27%	4.87%	5.12%	5.56%	5.52%	6.10%	6.20%	6.94%	7.00%		11.28%	<-IRR #YR->	5	AEPS	70.63%
Payout Ratio	18.83%	17.91%	20.40%	22.42%	22.17%	22.46%	27.16%	27.88%	27.46%	26.76%	28.34%	28.14%	27.50%	28.47%	25.42%	25.21%		10.25%	<-IRR #YR->	10	5 yr Running Average	165.45%
5 year Running Average	18.18%	18.22%	18.35%	19.52%	20.35%	21.07%	22.92%	24.42%	25.43%	26.34%	27.52%	27.72%	27.64%	27.84%	27.58%	26.95%		10.02%	<-IRR #YR->	5	5 yr Running Average	61.22%
Price/AEPS Median	11.90	11.45	13.95	13.12	15.35	17.52	18.57	16.66	17.21	17.52	17.16	17.55	16.99	16.61	0.00	0.00		17.19	<-Median->	10	Price/AEPS Median
Price/AEPS High	12.77	12.93	15.85	14.41	18.53	20.01	20.38	17.97	20.61	19.65	18.96	19.21	18.27	17.78	0.00	0.00		19.09	<-Median->	10	Price/AEPS High
Price/AEPS Low	11.03	9.97	12.05	11.83	12.17	15.03	16.77	15.36	13.82	15.38	15.36	15.88	15.72	15.44	0.00	0.00		15.36	<-Median->	10	Price/AEPS Low
Price/AEPS Close	11.61	12.84	13.69	14.41	17.73	18.02	18.58	15.94	20.54	19.54	17.99	18.11	16.40	16.14	14.41	14.29		18.01	<-Median->	10	Price/AEPS Close
Trailing P/AEPS Close	12.45	15.17	14.23	15.63	21.05	21.22	17.95	17.39	23.15	22.50	18.93	20.11	18.47	15.95	16.14	14.41		19.52	<-Median->	10	Trailing P/AEPS Close
Median Values		DPR	10 Yrs	27.31%	5 Yrs	27.50%	P/CF	5 Yrs	in order	17.21	19.21	15.38	18.11		-6.24%	Diff M/C					DPR 75% to 95% best
* Adjusted diluted net Earnings
			-$1.58	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$4.30
								-$2.52	$0.00	$0.00	$0.00	$0.00	$4.30
			-$1.33	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.53
								-$2.19	$0.00	$0.00	$0.00	$0.00	$3.53
														$4.37	<-12 mths	0.46%
Pre-split 15			$7.52
With ADT Sale			$2.51
Pre-split 15	$3.75	$4.87	$4.92	$5.11
EPS Basic	$1.25	$1.62	$1.64	$1.70	$2.03	$2.41	$2.59	$7.20	$2.79	$3.15	$3.34	$3.53	$4.36					165.85%	<-Total Growth	10	EPS Basic
Pre-split 02
Pre-split 15	$3.73	$4.84	$7.46	$5.07
EPS Diluted*	$1.24	$1.61	$2.49	$1.69	$2.01	$2.39	$2.57	$7.16	$2.78	$3.14	$3.33	$3.51	$4.35	$4.55	$4.69	$4.80		74.93%	<-Total Growth	10	EPS Diluted
Increase	2.19%	29.76%	54.13%	-32.04%	18.93%	18.91%	7.53%	178.60%	-61.17%	12.95%	6.05%	5.41%	23.93%	4.60%	3.08%	2.35%		10	0	10	Years of Data, EPS P or N	100.00%
Earnings Yield	8.3%	8.3%	11.5%	6.9%	5.6%	5.5%	6.0%	17.8%	4.8%	4.9%	5.4%	5.1%	6.2%	6.6%	6.8%	7.0%		5.75%	<-IRR #YR->	10	Earnings per Share	74.93%
5 year Running Average	$1.03	$1.20	$1.52	$1.65	$1.81	$2.04	$2.23	$3.16	$3.38	$3.61	$3.80	$3.98	$3.42	$3.78	$4.09	$4.38		-9.49%	<-IRR #YR->	5	Earnings per Share	-39.25%
10 year Running Average	$0.81	$0.93	$1.12	$1.23	$1.37	$1.54	$1.71	$2.34	$2.52	$2.71	$2.92	$3.11	$3.29	$3.58	$3.85	$4.09		8.42%	<-IRR #YR->	10	5 yr Running Average	124.44%
* Diluted ESP per share									E/P	10 Yrs	5.57%	5Yrs	5.07%					1.58%	<-IRR #YR->	5	5 yr Running Average	8.15%
			-$2.49	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$4.35
								-$7.16	$0.00	$0.00	$0.00	$0.00	$4.35
			-$1.52	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.42
								-$3.16	$0.00	$0.00	$0.00	$0.00	$3.42
Dividend*														$1.30	$1.41	$1.55			Estimates		Dividend*
Increase														9.94%	8.46%	9.93%			Estimates		Increase
Payout Ratio EPS														28.57%	30.06%	32.29%			Estimates		Payout Ratio EPS
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 Dividend
Pre-split 02
Pre-split 15	$0.73	$0.82	$0.97	$1.15	$0.45
Dividend*	$0.24	$0.27	$0.32	$0.38	$0.45	$0.54	$0.63	$0.70	$0.78	$0.88	$0.98	$1.08	$1.18	$1.21	$1.21	$1.21		267.62%	<-Total Growth	10	Dividends
Increase	11.90%	12.41%	18.40%	19.17%	17.42%	19.24%	16.92%	11.95%	11.03%	12.18%	11.43%	10.26%	10.00%	2.33%	0.00%	0.00%		28	0	28	Years of data, Count P, N	100.00%
Average Increases 5 Year Running	11.9%	12.7%	14.6%	16.5%	15.9%	17.3%	18.2%	16.9%	15.3%	14.3%	12.7%	11.4%	11.0%	9.2%	6.8%	4.5%		15.59%	<-Median->	10	Average Incr 5 Year Running
Dividends 5 Yr Running	$0.19	$0.21	$0.25	$0.29	$0.33	$0.39	$0.46	$0.54	$0.62	$0.70	$0.79	$0.88	$0.98	$1.06	$1.13	$1.18		297.31%	<-Total Growth	10	Dividends 5 Yr Running
Yield H/L Price	1.58%	1.56%	1.46%	1.71%	1.44%	1.28%	1.46%	1.67%	1.60%	1.53%	1.65%	1.60%	1.62%	1.71%				1.60%	<-Median->	10	Yield H/L Price	Item
Yield on High  Price	1.48%	1.39%	1.29%	1.56%	1.20%	1.12%	1.33%	1.55%	1.33%	1.36%	1.49%	1.46%	1.51%	1.60%				1.41%	<-Median->	10	Yield on High  Price	EPS
Yield on Low Price	1.71%	1.80%	1.69%	1.90%	1.82%	1.49%	1.62%	1.82%	1.99%	1.74%	1.85%	1.77%	1.75%	1.84%				1.79%	<-Median->	10	Yield on Low Price	AEPS
Yield on Close Price	1.62%	1.40%	1.49%	1.56%	1.25%	1.25%	1.46%	1.75%	1.34%	1.37%	1.58%	1.55%	1.68%	1.76%	1.76%	1.76%		1.51%	<-Median->	10	Yield on Close Price	CFPS
Payout Ratio	19.44%	16.84%	12.94%	22.68%	22.39%	22.46%	24.42%	9.81%	28.06%	27.87%	29.28%	30.63%	27.18%	26.59%	25.80%	25.21%		25.80%	<-Median->	10	DPR EPS	FCF
DPR EPS 5 Yr Running	18.37%	17.87%	16.14%	17.39%	18.45%	19.27%	20.81%	17.07%	18.31%	19.52%	20.86%	22.13%	28.57%	28.16%	27.67%	26.88%		19.40%	<-Median->	10	DPR EPS 5 Yr Running
Payout Ratio CF	13.49%	14.50%	15.60%	22.54%	16.08%	17.79%	20.52%	23.99%	28.86%	14.89%	14.99%	17.43%	17.32%	17.5%	17.3%	17.5%		17.61%	<-Median->	10	DPR CF
DPR CF 5 Yr Running	12.60%	12.83%	13.58%	15.65%	16.32%	17.15%	18.36%	20.00%	21.35%	20.03%	18.79%	18.23%	17.40%	16.47%	16.93%	17.42%		18.29%	<-Median->	10	DPR CF 5 Yr Running
Payout Ratio CF NC	12.91%	10.16%	10.90%	12.22%	12.56%	13.62%	14.87%	17.02%	14.96%	12.89%	13.57%	13.89%	13.55%	17.5%	17.3%	17.5%		13.59%	<-Median->	10	DPR CF WC
DPR CF WC 5 Yr Running	12.04%	11.53%	11.24%	11.50%	11.74%	12.06%	13.01%	14.21%	14.69%	14.50%	14.38%	14.19%	13.71%	14.24%	15.05%	15.80%		13.95%	<-Median->	10	DPR CF WC 5 Yr Running
Median Values	10 Yr Med	10 Yr Cl	1.60%	1.51%	5 Yr Med	5 Yr Cl	1.60%	1.55%	5 Yr Med	Payout	28.06%	17.32%	13.57%					10.98%	<-IRR #YR->	5	Dividends	68.33%
* Dividends per share	10 Yr Med	and Cur.	10.28%	16.96%	5 Yr Med	and Cur.	10.01%	13.51%	Last Div Inc --->		$0.2750	$0.3025	10.00%					13.90%	<-IRR #YR->	10	Dividends	267.62%
Dividends Growth 15																		14.11%	<-IRR #YR->	15	Dividends	623.98%
Dividends Growth 20																		13.85%	<-IRR #YR->	20	Dividends	1238.68%
Dividends Growth 25																		15.23%	<-IRR #YR->	25	Dividends	1956.52%
Dividends Growth 30																		18.58%	<-IRR #YR->	28	Dividends
Dividends Growth 5								-$0.70	$0.00	$0.00	$0.00	$0.00	$1.18								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	$1.18								Dividends Growth 10
Dividends Growth 15	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.18								Dividends Growth 15
Dividends Growth 20	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.18								Dividends Growth 20
Dividends Growth 25	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.18								Dividends Growth 25
Dividends Growth 30	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.18								Dividends Growth 30
Historical Dividends	Historical	High Div	1.99%	Low Div	0.91%	10 Yr High	1.98%	10 Yr Low	1.14%	Med Div	1.47%	Close Div	1.40%								Historical Dividends
High/Ave/Median Values	Curr diff	Exp.	-11.35%		93.86%	Exp.	-10.90%		54.75%	Cheap	20.01%	Cheap	26.41%								High/Ave/Median
Future Dividend Yield					Div Yield	2.97%	earning in	5	Years	at IRR of	10.98%	Div Inc.	68.33%								Future Dividend Yield	Div Yd
Future Dividend Yield					Div Yield	5.00%	earning in	10	Years	at IRR of	10.98%	Div Inc.	183.34%								Future Dividend Yield	2.97%
Future Dividend Yield					Div Yield	8.41%	earning in	15	Years	at IRR of	10.98%	Div Inc.	376.94%								Future Dividend Yield	5.00%
Future Dividend Yield					Div Yield	14.16%	earning in	20	Years	at IRR of	10.98%	Div Inc.	702.82%								Future Dividend Yield	8.41%
																						14.16%
Future Dividend Paid					Div Paid	$2.04	earning in	5	Years	at IRR of	10.98%	Div Inc.	68.33%								Future Dividend Paid
Future Dividend Paid					Div Paid	$3.43	earning in	10	Years	at IRR of	10.98%	Div Inc.	183.34%								Future Dividend Paid
Future Dividend Paid					Div Paid	$5.77	earning in	15	Years	at IRR of	10.98%	Div Inc.	376.94%								Future Dividend Paid
					Div Paid	$9.71	earning in	20	Years	at IRR of	10.98%	Div Inc.	702.82%
Dividend Covering Cost					Total Div	$7.53	over	5	Years	at IRR of	10.98%	Div Cov.	10.98%								Dividend Covering Cost
Dividend Covering Cost					Total Div	$18.17	over	10	Years	at IRR of	10.98%	Div Cov.	26.50%								Dividend Covering Cost
Dividend Covering Cost					Total Div	$36.09	over	15	Years	at IRR of	10.98%	Div Cov.	52.61%								Dividend Covering Cost
					Total Div	$66.24	over	20	Years	at IRR of	10.98%	Div Cov.	96.57%
I am earning GC					Div Gr	967.96%	8/10/04	# yrs ->	20	2004	$5.89	Cap Gain	1064.52%								I am earning GC
I am earning Div					org yield	1.92%	12/31/14	Trading	Div G Yrly	25.58%	Div start	$0.11	-1.92%	20.54%							I am earning Div
Yield if held 5 years	2.28%	2.20%	3.41%	3.42%	3.37%	3.51%	3.61%	3.19%	3.48%	2.81%	2.33%	2.51%	2.82%	2.48%	2.11%	2.05%		3.28%	<-Median->	10	Paid Median Price	Div Yd
Yield if held 10 years	5.20%	4.15%	5.37%	5.75%	5.00%	5.07%	5.07%	7.44%	6.95%	6.54%	6.39%	6.19%	5.38%	5.39%	3.88%	2.89%		5.97%	<-Median->	10	Paid Median Price	2.82%
Yield if held 15 years	15.76%	12.40%	10.43%	11.37%	15.25%	11.55%	9.59%	11.72%	11.71%	9.72%	9.20%	8.69%	12.52%	10.78%	9.05%	7.92%		11.46%	<-Median->	10	Paid Median Price	5.38%
Yield if held 20 years				40.85%	36.45%	35.00%	28.63%	22.78%	23.13%	29.64%	20.99%	16.42%	19.73%	18.16%	13.44%	11.42%		25.88%	<-Median->	10	Paid Median Price	12.52%
Yield if held 25 years									83.13%	70.85%	63.59%	49.05%	38.35%	35.89%	40.99%	26.05%		63.59%	<-Median->	5	Paid Median Price	19.73%
Yield if held 30 years														128.95%	97.98%	78.91%		#NUM!	<-Median->	0	Paid Median Price
Cost covered if held 5 years	8.97%	8.66%	13.03%	12.78%	12.47%	12.86%	13.36%	12.28%	13.80%	11.30%	9.46%	10.27%	11.64%	10.88%	9.87%	9.97%		12.38%	<-Median->	10	Paid Median Price
Cost covered if held 10 years	31.94%	25.75%	32.01%	32.93%	27.95%	27.50%	27.41%	41.62%	40.38%	38.80%	38.79%	38.74%	34.50%	37.50%	29.44%	23.51%		36.62%	<-Median->	10	Paid Median Price
Cost covered if held 15 years	110.23%	88.37%	72.14%	76.10%	100.54%	74.21%	61.18%	77.06%	79.41%	67.08%	64.89%	63.04%	93.38%	87.78%	81.07%	77.35%		75.16%	<-Median->	10	Paid Median Price
Cost covered if held 20 years				287.23%	253.87%	238.28%	194.19%	159.71%	167.95%	219.86%	159.46%	128.52%	158.61%	159.24%	129.88%	120.46%		181.07%	<-Median->	10	Paid Median Price
Cost covered if held 25 years									617.26%	539.02%	496.54%	395.30%	318.22%	325.66%	411.36%	286.21%		496.54%	<-Median->	5	Paid Median Price
Cost covered if held 30 years														1183.95%	996.72%	880.51%		#NUM!	<-Median->	0	Paid Median Price
																				Yr	Item	Tot. Growth
Revenue Growth								$13,383	$16,768	$17,998	$18,283	$18,889	$20,725	$20,949	<-12 mths	1.08%		54.85%	<-Total Growth	5	Revenue Growth	54.85%
AEPS Growth								$2.52	$2.84	$3.27	$3.44	$3.82	$4.30	$4.29	<-12 mths	-0.23%		70.63%	<-Total Growth	5	AEPS Growth	70.63%
Net Income Growth								$1,716.5	$711.8	$795.2	$823.0	$846.1	$1,014.8	$1,010	<-12 mths	-0.44%		-69.15%	<-Total Growth	5	Net Income Growth	-69.15%
Cash Flow Growth								$750	$688	$1,474	$1,583	$1,461	$1,564					108.36%	<-Total Growth	5	Cash Flow Growth	108.36%
Dividend Growth								$0.70	$0.78	$0.88	$0.98	$1.08	$1.18	$1.21	<-12 mths	2.33%		68.33%	<-Total Growth	5	Dividend Growth	68.33%
Stock Price Growth								$40.18	$58.33	$63.89	$61.89	$69.17	$70.54	$68.59	<-12 mths	-2.76%		75.56%	<-Total Growth	5	Stock Price Growth	75.56%
Revenue Growth			$11,403	$11,590	$12,224	$12,788	$13,175	$13,383	$16,768	$17,998	$18,283	$18,889	$20,725	$21,173	<-this year	2.16%		81.75%	<-Total Growth	10	Revenue Growth	81.75%
AEPS Growth			$1.58	$1.71	$2.03	$2.39	$2.31	$2.52	$2.84	$3.27	$3.44	$3.82	$4.30	$4.25	<-this year	-1.16%		172.73%	<-Total Growth	10	AEPS Growth	172.73%
Net Income Growth			$712.9	$447.1	$506.1	$571.5	$591.7	$1,716.5	$711.8	$795.2	$823.0	$846.1	$1,014.8	$1,047	<-this year	3.17%		42.35%	<-Total Growth	10	Net Income Growth	42.35%
Cash Flow Growth			$566.8	$432.3	$678.3	$707.4	$696.2	$750.4	$687.7	$1,474.1	$1,583.3	$1,461.4	$1,563.5	$1,580	<-this year	1.06%		175.85%	<-Total Growth	10	Cash Flow Growth	175.85%
Dividend Growth			$0.32	$0.38	$0.45	$0.54	$0.63	$0.70	$0.78	$0.88	$0.98	$1.08	$1.18	$1.30	<-this year	9.94%		267.62%	<-Total Growth	10	Dividend Growth	267.62%
Stock Price Growth			$21.58	$24.65	$36.00	$43.07	$42.91	$40.18	$58.33	$63.89	$61.89	$69.17	$70.54	$68.59	<-this year	-2.76%		226.88%	<-Total Growth	10	Stock Price Growth	226.88%
Dividends on Shares	$257.13	$289.05	$342.25	$407.87	$478.91	$571.05	$667.66	$747.46	$829.92	$931.00	$1,037.40	$1,143.80	$1,258.18	$1,287.44	$1,287.44	$1,287.44		$10,533.00	Total Divs	30	Total Dividends	12/31/93
Paid	$19,152.00	$22,461.04	$23,017.87	$33,090.40	$41,219.36	$42,730.24	$42,826.00	$50,369.76	$57,019.76	$60,435.20	$71,628.48	$79,768.08	$72,979.76	$72,979.76	$72,979.76	$72,979.76		$72,979.76	Worth	30	Worth	$0.94
Total																		$83,512.76
Dividends on Shares				$18.02	$21.15	$25.22	$29.49	$33.02	$36.66	$41.13	$45.83	$50.53	$55.58	$56.87	$56.87	$56.87		$356.62	No of Years	10	Total Dividends	12/31/13
Paid			$1,016.77	$1,461.70	$1,820.78	$1,887.52	$1,891.75	$2,224.98	$2,518.73	$2,669.60	$3,164.04	$3,523.59	$3,223.73	$3,223.73	$3,223.73	$3,223.73		$3,223.73	No of Years	10	Worth	$21.63
Total																		$3,580.35
Graham Price AEPS	$15.64	$17.26	$19.03	$20.10	$22.32	$24.79	$25.78	$35.33	$38.67	$42.45	$45.11	$48.95	$53.61	$53.30	$56.41	$56.65		181.75%	<-Total Growth	10	Graham Price AEPS
Price/GP Ratio Med	0.98	1.01	1.16	1.12	1.40	1.69	1.66	1.19	1.26	1.35	1.31	1.37	1.36	1.32				1.36	<-Median->	10	Price/GP Ratio
Price/GP Ratio High	1.05	1.14	1.31	1.23	1.69	1.93	1.83	1.28	1.51	1.51	1.45	1.50	1.47	1.42				1.51	<-Median->	10	Price/GP Ratio
Price/GP Ratio Low	0.91	0.88	1.00	1.01	1.11	1.45	1.50	1.10	1.01	1.18	1.17	1.24	1.26	1.23				1.18	<-Median->	10	Price/GP Ratio
Price/GP Ratio Close	0.95	1.13	1.13	1.23	1.61	1.74	1.66	1.14	1.51	1.51	1.37	1.41	1.32	1.29				1.46	<-Median->	10	Price/GP Ratio
Prem/Disc Close	-4.74%	12.81%	13.41%	22.64%	61.27%	73.72%	66.47%	13.71%	50.83%	50.51%	37.19%	41.31%	31.58%	28.68%	21.59%	21.08%		45.91%	<-Median->	10	Graham Price
Graham Price EPS	$15.39	$17.80	$23.90	$19.98	$22.21	$24.79	$27.19	$59.56	$38.26	$41.60	$44.39	$46.92	$53.92	$55.15	$56.00	$56.65		125.65%	<-Total Growth	10	Graham Price EPS
Price/GP Ratio Med	0.99	0.98	0.92	1.12	1.40	1.69	1.58	0.71	1.28	1.38	1.33	1.43	1.36	1.28				1.37	<-Median->	10	Price/GP Ratio
Price/GP Ratio High	1.06	1.10	1.05	1.23	1.69	1.93	1.73	0.76	1.53	1.54	1.47	1.56	1.46	1.37				1.54	<-Median->	10	Price/GP Ratio
Price/GP Ratio Low	0.92	0.85	0.79	1.01	1.11	1.45	1.42	0.65	1.03	1.21	1.19	1.29	1.25	1.19				1.20	<-Median->	10	Price/GP Ratio
Price/GP Ratio Close	0.97	1.09	0.90	1.23	1.62	1.74	1.58	0.67	1.52	1.54	1.39	1.47	1.31	1.24	1.22	1.21		1.50	<-Median->	10	Price/GP Ratio
Prem/Disc Close	-3.21%	9.37%	-9.69%	23.37%	62.07%	73.72%	57.82%	-32.54%	52.45%	53.59%	39.44%	47.42%	30.82%	24.36%	22.49%	21.08%		49.94%	<-Median->	10	Graham Price
Month, Year	Dec-11	Dec-12	Dec-13	Dec-14	Dec-15	Dec-16	Dec-17	Dec-18	Dec-19	Dec-20	Dec-21	Dec-22	Dec-23	Dec-24	Dec-25	Dec-26		33.00	<Count Years>	33	Month, Year
Pre-split 15	$54.00	$63.33	$64.90	$93.30
Price Close	$18.00	$21.11	$21.63	$31.10	$38.74	$40.16	$40.25	$47.34	$53.59	$56.80	$67.32	$74.97	$68.59	$68.59	$68.59	$68.59		217.06%	<-Total Growth	10	Stock Price
Increase	19.47%	17.28%	2.48%	43.76%	24.57%	3.67%	0.22%	17.61%	13.20%	5.99%	18.52%	11.36%	-8.51%	0.00%	0.00%	0.00%		22.19	<-Median->	10	CAPE (10 Yr P/E)
P/E	14.48	13.08	8.70	18.40	19.27	16.80	15.66	6.61	19.28	18.09	20.22	21.36	15.77	15.07	14.62	14.29		7.70%	<-IRR #YR->	5	Stock Price	44.89%
Trailer P/E	14.79	16.98	13.41	12.51	22.92	19.98	16.84	18.42	7.48	20.43	21.44	22.51	19.54	15.77	15.07	14.62		12.23%	<-IRR #YR->	10	Stock Price	217.06%
CAPE (10 Yr P/E)	22.11	22.74	19.29	25.22	28.28	26.14	23.48	20.19	21.30	20.97	23.08	24.13	20.83	19.16	17.83	16.78		9.46%	<-IRR #YR->	5	Price & Dividend	63.86%
Median 10, 5 Yrs		D.  per yr	1.96%	1.76%	% Tot Ret	13.84%	18.62%	T P/E	19.76	20.43	P/E:	18.25	19.28					14.20%	<-IRR #YR->	10	Price & Dividend	253.62%
Price 15		D.  per yr	1.81%		% Tot Ret	13.00%						CAPE Diff	-13.63%					12.12%	<-IRR #YR->	15	Stock Price	456.14%
Price  20		D.  per yr	1.70%		% Tot Ret	12.53%												11.85%	<-IRR #YR->	20	Stock Price	839.59%
Price  25		D.  per yr	1.80%		% Tot Ret	12.09%												13.06%	<-IRR #YR->	25	Stock Price	2050.16%
Price  30		D.  per yr	2.13%		% Tot Ret	12.14%												15.37%	<-IRR #YR->	30	Stock Price	7196.81%
Price  35		D.  per yr	2.85%		% Tot Ret	13.41%												18.41%	<-IRR #YR->	33	Stock Price
Price & Dividend 15																		13.93%	<-IRR #YR->	15	Price & Dividend	520.26%
Price & Dividend 20																		13.55%	<-IRR #YR->	20	Price & Dividend	971.02%
Price & Dividend 25																		14.85%	<-IRR #YR->	25	Price & Dividend	2357.74%
Price & Dividend 30																		17.50%	<-IRR #YR->	30	Price & Dividend	8249.94%
Price & Dividend 35																		21.26%	<-IRR #YR->	33	Price & Dividend
Price  5								-$47.34	$0.00	$0.00	$0.00	$0.00	$68.59								Price  5
Price 10			-$21.63	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$68.59								Price 10
Price & Dividend 5								-$47.34	$0.78	$0.88	$0.98	$1.08	$69.77								Price & Dividend 5
Price & Dividend 10			-$21.63	$0.38	$0.45	$0.54	$0.63	$0.70	$0.78	$0.88	$0.98	$1.08	$69.77								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	$68.59								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	$68.59								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	$68.59								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	$68.59								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	$68.59								Price  35
Price & Dividend 15	$0.24	$0.27	$0.32	$0.38	$0.45	$0.54	$0.63	$0.70	$0.78	$0.88	$0.98	$1.08	$69.77								Price & Dividend 15
Price & Dividend 20	$0.24	$0.27	$0.32	$0.38	$0.45	$0.54	$0.63	$0.70	$0.78	$0.88	$0.98	$1.08	$69.77								Price & Dividend 20
Price & Dividend 25	$0.24	$0.27	$0.32	$0.38	$0.45	$0.54	$0.63	$0.70	$0.78	$0.88	$0.98	$1.08	$69.77								Price & Dividend 25
Price & Dividend 30	$0.24	$0.27	$0.32	$0.38	$0.45	$0.54	$0.63	$0.70	$0.78	$0.88	$0.98	$1.08	$69.77								Price & Dividend 30
Price & Dividend 35	$0.24	$0.27	$0.32	$0.38	$0.45	$0.54	$0.63	$0.70	$0.78	$0.88	$0.98	$1.08	$69.77								Price & Dividend 35
Month, Year	Sep-11	Sep-12	Sep-13	Sep-14	Sep-15	Sep-16	Sep-17	Sep-18	Sep-19	Sep-20	Sep-21	Sep-22	Sep-23	Sep-24	Sep-25	Sep-26		33.00	<Count Years>	33	Month, Year
Pre-split 02
Pre-split 15	$44.69	$58.40	$64.74	$73.94
Price Close	$14.90	$19.47	$21.58	$24.65	$36.00	$43.07	$42.91	$40.18	$58.33	$63.89	$61.89	$69.17	$70.54	$68.59	$68.59	$68.59		226.88%	<-Total Growth	10	Stock Price
Increase	-1.02%	30.68%	10.86%	14.21%	46.06%	19.64%	-0.37%	-6.36%	45.17%	9.53%	-3.13%	11.76%	1.98%	-2.76%	0.00%	0.00%		22.72	<-Median->	10	CAPE (10 Yr P/E)
P/E	11.98	12.07	8.68	14.58	17.91	18.02	16.70	5.61	20.98	20.35	18.59	19.71	16.22	15.07	14.62	14.29		11.91%	<-IRR #YR->	5	Stock Price	75.56%
Trailer P/E	12.24	15.66	13.38	9.91	21.30	21.43	17.95	15.63	8.15	22.98	19.71	20.77	20.10	15.77	15.07	14.62		12.57%	<-IRR #YR->	10	Stock Price	226.88%
CAPE (10 Yr P/E)	18.30	20.97	19.24	19.99	26.28	28.03	25.03	17.14	23.18	23.59	21.22	22.27	21.42	19.16	17.83	16.78		13.84%	<-IRR #YR->	5	Price & Dividend	97.91%
Median 10, 5 Yrs		D.  per yr	1.94%	1.92%	% Tot Ret	13.38%	13.89%	T P/E	19.90	20.10	P/E:	17.97	19.71					14.52%	<-IRR #YR->	10	Price & Dividend	263.53%
Price 15		D.  per yr	1.94%		% Tot Ret	12.57%						CAPE Diff	-15.66%					13.48%	<-IRR #YR->	15	Stock Price	566.10%
Price  20		D.  per yr	1.80%		% Tot Ret	12.35%												12.81%	<-IRR #YR->	20	Stock Price	1013.79%
Price  25		D.  per yr	1.80%		% Tot Ret	11.91%												13.34%	<-IRR #YR->	25	Stock Price	2187.78%
Price  30		D.  per yr	2.19%		% Tot Ret	12.17%												15.80%	<-IRR #YR->	30	Stock Price	8058.06%
Price  35		D.  per yr	2.87%		% Tot Ret	13.35%												18.65%	<-IRR #YR->	33	Stock Price
Price & Dividend 15																		15.41%	<-IRR #YR->	15	Price & Dividend	640.79%
Price & Dividend 20																		14.61%	<-IRR #YR->	20	Price & Dividend	1165.28%
Price & Dividend 25																		15.14%	<-IRR #YR->	25	Price & Dividend	2507.12%
Price & Dividend 30																		17.99%	<-IRR #YR->	30	Price & Dividend	9202.94%
Price & Dividend 35																		21.52%	<-IRR #YR->	33	Stock Price
Price  5								-$40.18	$0.00	$0.00	$0.00	$0.00	$70.54								Price  5
Price 10			-$21.58	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$70.54								Price 10
Price & Dividend 5								-$40.18	$0.78	$0.88	$0.98	$1.08	$71.72								Price & Dividend 5
Price & Dividend 10			-$21.58	$0.38	$0.45	$0.54	$0.63	$0.70	$0.78	$0.88	$0.98	$1.08	$71.72								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	$70.54								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	$70.54								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	$70.54								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	$70.54								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	$70.54								Price  35
Price & Dividend 15	$0.24	$0.27	$0.32	$0.38	$0.45	$0.54	$0.63	$0.70	$0.78	$0.88	$0.98	$1.08	$71.72								Price & Dividend 15
Price & Dividend 20	$0.24	$0.27	$0.32	$0.38	$0.45	$0.54	$0.63	$0.70	$0.78	$0.88	$0.98	$1.08	$71.72								Price & Dividend 20
Price & Dividend 25	$0.24	$0.27	$0.32	$0.38	$0.45	$0.54	$0.63	$0.70	$0.78	$0.88	$0.98	$1.08	$71.72								Price & Dividend 25
Price & Dividend 30	$0.24	$0.27	$0.32	$0.38	$0.45	$0.54	$0.63	$0.70	$0.78	$0.88	$0.98	$1.08	$71.72								Price & Dividend 30
Price & Dividend 35	$0.24	$0.27	$0.32	$0.38	$0.45	$0.54	$0.63	$0.70	$0.78	$0.88	$0.98	$1.08	$71.72								Price & Dividend 35
Price Median H/L	$15.27	$17.36	$21.99	$22.44	$31.17	$41.88	$42.90	$42.00	$48.89	$57.28	$59.03	$67.04	$73.07	$70.61				232.24%	<-Total Growth	10	Stock Price
Increase	14.17%	13.71%	26.67%	2.02%	38.90%	34.38%	2.44%	-2.11%	16.41%	17.16%	3.06%	13.56%	9.00%	-3.37%				12.76%	<-IRR #YR->	10	Stock Price	232.24%
P/E	12.28	10.76	8.84	13.28	15.50	17.52	16.69	5.87	17.58	18.24	17.73	19.10	16.80	15.52				11.71%	<-IRR #YR->	5	Stock Price	74.00%
Trailer P/E	12.55	13.97	13.63	9.02	18.44	20.84	17.95	16.34	6.83	20.60	18.80	20.13	20.82	16.23				14.65%	<-IRR #YR->	10	Price & Dividend	268.20%
P/E on Run. 5 yr Ave	14.76	14.48	14.43	13.60	17.23	20.55	19.24	13.27	14.45	15.87	15.55	16.83	21.35	18.70				13.56%	<-IRR #YR->	5	Price & Dividend	95.38%
P/E on Run. 10 yr Ave	18.76	18.70	19.61	18.20	22.75	27.26	25.02	17.91	19.43	21.15	20.24	21.58	22.19	19.73				12.78	P/E Ratio		Historical Median
Median 10, 5 Yrs		D.  per yr	1.89%	1.85%	% Tot Ret	12.92%	13.61%	T P/E	18.62	20.13	P/E:	17.16	17.73						Count	29	Years of data
			-$21.99	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$73.07
								-$42.00	$0.00	$0.00	$0.00	$0.00	$73.07
			-$21.99	$0.38	$0.45	$0.54	$0.63	$0.70	$0.78	$0.88	$0.98	$1.08	$74.25
								-$42.00	$0.78	$0.88	$0.98	$1.08	$74.25
High Month	Jul 11	Sep 12	Jul 13	Sep 14	Aug 15	Jul 16	May 17	Jul 18	Sep 19	Sep 20	Aug 21	Apr 22	May 23	Nov 23
Pre-split 02
Pre-split 15	$49.15	$58.81	$74.97	$73.94
Price High	$16.38	$19.60	$24.99	$24.65	$37.62	$47.83	$47.07	$45.29	$58.52	$64.26	$65.23	$73.39	$78.56	$75.58				214.37%	<-Total Growth	10	Stock Price
Increase	4.75%	19.65%	27.48%	-1.37%	52.64%	27.14%	-1.59%	-3.78%	29.21%	9.81%	1.51%	12.51%	7.04%	-3.79%				12.14%	<-IRR #YR->	10	Stock Price	214.37%
P/E	13.18	12.15	10.05	14.58	18.72	20.01	18.32	6.33	21.05	20.46	19.59	20.91	18.06	16.61				11.65%	<-IRR #YR->	5	Stock Price	73.46%
Trailing P/E	13.47	15.77	15.49	9.91	22.26	23.80	19.69	17.62	8.17	23.12	20.77	22.04	22.38	17.37				15.99	P/E Ratio		Historical Median
Median 10, 5 Yrs								T P/E	21.41	22.04	P/E:	19.15	20.46					18.64	P/E Ratio		Historical High
			-$24.99	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$78.56
								-$45.29	$0.00	$0.00	$0.00	$0.00	$78.56
Low Month	Feb 11	Oct 11	Oct 12	Nov 13	Oct 14	Oct 15	Feb 17	Feb 18	Oct 18	Mar 20	Mar 21	Dec 21	Oct 22	Dec 23
Pre-split 02
Pre-split 15	$42.47	$45.37	$56.99	$60.68
Price Low	$14.16	$15.12	$19.00	$20.23	$24.71	$35.93	$38.73	$38.70	$39.25	$50.29	$52.83	$60.68	$67.58	$65.63				255.75%	<-Total Growth	10	Stock Price
Increase	27.42%	6.83%	25.61%	6.47%	22.17%	45.41%	7.79%	-0.08%	1.42%	28.13%	5.05%	14.86%	11.37%	-2.89%				13.53%	<-IRR #YR->	10	Stock Price	255.75%
P/E	11.39	9.37	7.64	11.97	12.29	15.03	15.07	5.41	14.12	16.02	15.86	17.29	15.54	14.42				11.79%	<-IRR #YR->	5	Stock Price	74.63%
Trailing P/E	11.64	12.16	11.77	8.13	14.62	17.88	16.21	15.06	5.48	18.09	16.82	18.22	19.25	15.09				11.97	P/E Ratio		Historical Median
Median 10, 5 Yrs								T P/E	16.51	18.09	P/E:	15.05	15.86					7.99	P/E Ratio		Historical Low
			-$19.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$67.58
								-$38.70	$0.00	$0.00	$0.00	$0.00	$67.58
Free Cash Flow MS	$374	$297	$338	$226	$420	$394	$327	$433	$398	$963	$984	$840	$884	$522	$777			161.54%	<-Total Growth	10	Free Cash Flow
Change		-20.59%	13.80%	-33.14%	85.84%	-6.19%	-17.01%	32.42%	-8.08%	141.96%	2.18%	-14.63%	5.24%	-40.95%	48.85%			15.34%	<-IRR #YR->	5	Free Cash Flow MS	104.16%
FCF/CF from Op Ratio	1.21	1.00	1.19	0.86	1.69	1.66	1.43	1.82	1.56	3.82	4.00	3.50	3.80	2.25	#DIV/0!			10.09%	<-IRR #YR->	10	Free Cash Flow MS	161.54%
Dividends paid	$77.10	$82.90	$91.50	$100.60	$111.9	$127.1	$143.5	$164.8	$198.9	$220.7	$240.1	$257.9	$275.0	$277.0	$277.0			200.55%	<-Total Growth	10	Dividends paid
Percentage paid	20.61%	27.91%	27.07%	44.51%	26.64%	32.26%	43.88%	38.06%	49.97%	22.92%	24.40%	30.70%	31.11%	53.07%	35.65%			$0.32	<-Median->	10	Percentage paid
5 Year Covrage					28.04%	30.69%	33.70%	35.99%	37.84%	34.00%	31.18%	29.92%	29.31%	30.31%	33.12%						5 Year Covrage
Dividend Coverage Ratio	4.85	3.58	3.69	2.25	3.75	3.10	2.28	2.63	2.00	4.36	4.10	3.26	3.21	1.88	2.80			3.16	<-Median->	10	Dividend Coverage Ratio
5 Year of Coverage					3.57	3.26	2.97	2.78	2.64	2.94	3.21	3.34	3.41	3.30	3.02						5 Year of Coverage
								-$433	$0	$0	$0	$0	$884
			-$338	$0	$0	$0	$0	$0	$0	$0	$0	$0	$884
Free Cash Flow WSJ					$464.7	$438.8	$379.5	$468.6	$330.8	$920	$970	$848	$868	$522	$777			86.79%	<-Total Growth	8	Free Cash Flow	WSJ
Change						-5.57%	-13.51%	23.48%	-29.41%	178.11%	5.43%	-12.58%	2.36%	-39.86%	48.85%			13.12%	<-IRR #YR->	5	Free Cash Flow MS
FCF/CF from Op Ratio					0.69	0.62	0.55	0.62	0.48	0.62	0.61	0.58	0.56	0.33	0.49			8.12%	<-IRR #YR->	8	Free Cash Flow MS
Dividends paid					$111.9	$127.1	$143.5	$164.8	$198.9	$220.7	$240.1	$257.9	$275.0	$277.0	$277.0			145.76%	<-Total Growth	8	Dividends paid
Percentage paid					24.08%	28.97%	37.81%	35.17%	60.13%	23.99%	24.75%	30.41%	31.68%	53.07%	35.65%			$0.30	<-Median->	9	Percentage paid
5 Year Covrage									35.83%	33.69%	31.54%	30.60%	30.29%	30.78%	33.30%						5 Year Covrage
Dividend Coverage Ratio					4.15	3.45	2.64	2.84	1.66	4.17	4.04	3.29	3.16	1.88	2.80			3.29	<-Median->	9	Dividend Coverage Ratio
5 Year of Coverage									2.79	2.97	3.17	3.27	3.30	3.25	3.00						5 Year of Caogerage
								-$469	$0	$0	$0	$0	$868
					-$465	$0	$0	$0	$0	$0	$0	$0	$868
Market Cap $M	$4,517	$5,676	$5,933	$6,266	$8,722	$10,100	$9,771	$10,296	$14,841	$16,023	$15,063	$16,388	$16,150	$15,704	$15,704	$15,704		172.19%	<-Total Growth	10	Market Cap
Pre-split 15	103.6	99.6	95.5	88.1
Diluted # of Share in Million	310.8	298.8	286.5	264.3	251.2	239.3	230.6	239.8	256.3	253.3	247.3	240.8	233.3	233.3				-18.57%	<-Total Growth	10	Diluted
Change	-3.54%	-3.86%	-4.12%	-7.75%	-4.96%	-4.74%	-3.64%	3.99%	6.88%	-1.17%	-2.37%	-2.63%	-3.11%	0.00%				-2.03%	<-IRR #YR->	10	Diluted
Difference Diluted/Basic	-0.5%	-0.7%	-0.7%	-0.7%	-0.9%	-0.9%	-0.8%	-0.6%	-0.5%	-0.5%	-0.4%	-0.4%	-0.3%	-0.3%				-0.55%	<-IRR #YR->	5	Diluted
			-286.5	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	233.3
								-239.8	0.0	0.0	0.0	0.0	233.3
Pre-split 15	103.1	98.9	94.8	87.5
Basic # of Shares in Millions	309.3	296.7	284.4	262.5	248.9	237.1	228.7	238.3	254.9	252.1	246.2	239.9	232.5	232.5				-18.25%	<-Total Growth	10	Average
Change	-3.55%	-4.07%	-4.15%	-7.70%	-5.18%	-4.74%	-3.54%	4.20%	6.97%	-1.10%	-2.34%	-2.56%	-3.08%	0.00%				-2.82%	<-Median->	10	Change
Difference Basic/Outstanding	-2.0%	-1.7%	-3.3%	-3.1%	-2.7%	-1.1%	-0.4%	7.5%	-0.2%	-0.5%	-1.1%	-1.2%	-1.5%	-1.5%				-1.12%	<-Median->	10	Difference Basic/Outstanding
Short Shares							0.9	0.9
Percetage of Shares							0.41%	0.36%
Pre-split 02
Pre-split 15	101.1	97.2	91.6	84.7
# of Share in M	303.3	291.6	274.9	254.2	242.3	234.5	227.7	256.3	254.4	250.8	243.4	236.9	228.9	228.9	228.9	228.9		-1.81%	<-IRR #YR->	10	Shares	-16.73%
Change	-3.79%	-3.86%	-5.70%	-7.53%	-4.70%	-3.21%	-2.90%	12.53%	-0.71%	-1.43%	-2.95%	-2.65%	-3.37%	0.00%	0.00%	0.00%		-2.23%	<-IRR #YR->	5	Shares	-10.66%
Cash Flow from Operations $M	$543.2	$546.1	$566.8	$432.3	$678.3	$707.4	$696.2	$750.4	$687.7	$1,474.1	$1,583.3	$1,461.4	$1,563.5	$1,580.0	$1,600.0	$1,580.0		175.85%	<-Total Growth	10	Cash Flow
Increase	-0.84%	0.53%	3.79%	-23.73%	56.90%	4.29%	-1.58%	7.79%	-8.36%	114.35%	7.41%	-7.70%	6.99%	1.06%	1.27%	-1.25%		S. Issue	SO, Buy Backs
5 year Running Average	$484.9	$521.5	$544.8	$527.2	$553.3	$586.2	$616.2	$652.9	$704.0	$863.2	$1,038.3	$1,191.4	$1,354.0	$1,532.5	$1,557.6	$1,557.0		148.53%	<-Total Growth	10	CF 5 Yr Running
CFPS	$1.79	$1.87	$2.06	$1.70	$2.80	$3.02	$3.06	$2.93	$2.70	$5.88	$6.51	$6.17	$6.83	$6.90	$6.99	$6.90		231.26%	<-Total Growth	10	Cash Flow per Share
Increase	3.07%	4.57%	10.06%	-17.52%	64.64%	7.75%	1.35%	-4.22%	-7.70%	117.47%	10.68%	-5.18%	10.72%	1.06%	1.27%	-1.25%		10.68%	<-IRR #YR->	10	Cash Flow	175.85%
5 year Running Average	$1.51	$1.67	$1.81	$1.83	$2.05	$2.29	$2.53	$2.70	$2.90	$3.52	$4.21	$4.84	$5.62	$6.46	$6.68	$6.76		15.81%	<-IRR #YR->	5	Cash Flow	108.36%
P/CF on Med Price	8.52	9.27	10.67	13.19	11.13	13.88	14.03	14.34	18.09	9.74	9.07	10.87	10.70	10.23	0.00	0.00		12.72%	<-IRR #YR->	10	Cash Flow per Share	231.26%
P/CF on Closing Price	8.32	10.39	10.47	14.49	12.86	14.28	14.04	13.72	21.58	10.87	9.51	11.21	10.33	9.94	9.81	9.94		18.45%	<-IRR #YR->	5	Cash Flow per Share	133.20%
															-18.29%	Diff M/C		11.98%	<-IRR #YR->	10	CFPS 5 yr Running	209.94%
Excl.Working Capital CF	$24.4	$233.60	$244.80	$365.10	$189.80	$216.60	$264.70	$307.00	$638.50	$228.80	$165.90	$372.80	$434.90	$0.00	$0.00	$0.00		15.77%	<-IRR #YR->	5	CFPS 5 yr Running	107.99%
CF fr Op $M WC	$567.6	$779.7	$811.6	$797.4	$868.1	$924.0	$960.9	$1,057.4	$1,326.2	$1,702.9	$1,749.2	$1,834.2	$1,998.4	$1,580.0	$1,600.0	$1,580.0		146.23%	<-Total Growth	10	Cash Flow less WC
Increase	-2.26%	37.37%	4.09%	-1.75%	8.87%	6.44%	3.99%	10.04%	25.42%	28.40%	2.72%	4.86%	8.95%	-20.94%	1.27%	-1.25%		9.43%	<-IRR #YR->	10	Cash Flow less WC	146.23%
5 year Running Average	$507.8	$576.6	$652.2	$707.4	$764.9	$836.2	$872.4	$921.6	$1,027.3	$1,194.3	$1,359.3	$1,534.0	$1,722.2	$1,772.9	$1,752.4	$1,718.5		13.58%	<-IRR #YR->	5	Cash Flow less WC	88.99%
CFPS Excl. WC	$1.87	$2.67	$2.95	$3.14	$3.58	$3.94	$4.22	$4.13	$5.21	$6.79	$7.19	$7.74	$8.73	$6.90	$6.99	$6.90		10.20%	<-IRR #YR->	10	CF less WC 5 Yr Run	164.07%
Increase	1.60%	42.88%	10.38%	6.25%	14.23%	9.97%	7.10%	-2.21%	26.31%	30.27%	5.84%	7.72%	12.75%	-20.94%	1.27%	-1.25%		13.32%	<-IRR #YR->	5	CF less WC 5 Yr Run	86.88%
5 year Running Average	$1.58	$1.86	$2.19	$2.50	$2.84	$3.26	$3.57	$3.80	$4.22	$4.86	$5.51	$6.21	$7.13	$7.47	$7.51	$7.45		11.45%	<-IRR #YR->	10	CFPS - Less WC	195.70%
P/CF on Med Price	8.16	6.49	7.45	7.15	8.70	10.63	10.17	10.18	9.38	8.44	8.21	8.66	8.37	10.23	0.00	0.00		16.16%	<-IRR #YR->	5	CFPS - Less WC	111.53%
P/CF on Closing Price	7.96	7.28	7.31	7.86	10.05	10.93	10.17	9.74	11.19	9.41	8.61	8.93	8.08	9.94	9.81	9.94		12.54%	<-IRR #YR->	10	CFPS 5 yr Running	225.92%
*Operational Cash Flow per share Shares A & B)			CF/CF-WC	P/CF Med	10 yr	12.16	5 yr	10.70	P/CF Med	10 yr	8.68	5 yr	8.44		14.52%	Diff M/C		13.41%	<-IRR #YR->	5	CFPS 5 yr Running	87.62%
			-274.9	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	228.9								Shares
								-256.3	0.0	0.0	0.0	0.0	228.9								Shares
			-$566.8	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$1,563.5								Cash Flow
								-$750.4	$0.0	$0.0	$0.0	$0.0	$1,563.5								Cash Flow
			-$2.06	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$6.83								Cash Flow per Share
								-$2.93	$0.00	$0.00	$0.00	$0.00	$6.83								Cash Flow per Share
			-$1.81	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.62								CFPS 5 yr Running
								-$2.70	$0.00	$0.00	$0.00	$0.00	$5.62								CFPS 5 yr Running
			-$811.6	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$1,998.4								Cash Flow less WC
								-$1,057.4	$0.0	$0.0	$0.0	$0.0	$1,998.4								Cash Flow less WC
			-$652.2	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$1,722.2								CF less WC 5 Yr Run
								-$921.6	$0.0	$0.0	$0.0	$0.0	$1,722.2								CF less WC 5 Yr Run
			-$2.95	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.73								CFPS - Less WC
								-$4.13	$0.00	$0.00	$0.00	$0.00	$8.73								CFPS - Less WC
			-$2.19	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$7.13								CFPS 5 yr Running
								-$3.80	$0.00	$0.00	$0.00	$0.00	$7.13								CFPS 5 yr Running
Net change in non-cash working capital items		-$44.40	-$68.90	-$99.50	$10.60	-$9.10	-$21.80	-$54.30	-$54.50	-$34.50	$162.20	-$115.20	-$125.50
Interest paid		-$48.00	-$42.50	-$50.70	-$58.10	-$60.60	-$59.30	-$90.50	-$106.90	-$194.30
Income taxes paid		-$141.20	-$133.40	-$214.90	-$142.30	-$146.90	-$183.60	-$162.20	-$477.10		-$328.10	-$257.60	-$309.40
Sum		-$233.60	-$244.80	-$365.10	-$189.80	-$216.60	-$264.70	-$307.00	-$638.50	-$228.80	-$165.90	-$372.80	-$434.90
Google --> TD Bank			-$244.80	-$365.10	-$189.80	-$216.60	-$264.70	-$307.00	-$639	-$229	-$166	-$373	-$435
Difference			$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1	$0	$0	$0	$0
TD Bank				-$360	-$190	-$217	-$265		-$532
Difference				-$5	$0	$0	$0		Chged '20
OPM	4.75%	4.55%	4.97%	3.73%	5.55%	5.53%	5.28%	5.61%	4.10%	8.19%	8.66%	7.74%	7.54%	7.46%				51.77%	<-Total Growth	10	OPM
Increase	-1.55%	-4.32%	9.32%	-24.96%	48.77%	-0.31%	-4.48%	6.11%	-26.85%	99.70%	5.73%	-10.66%	-2.49%	-1.08%					Should increase		or be stable.
Diff from Ave	-14.8%	-18.5%	-10.9%	-33.1%	-0.5%	-0.8%	-5.3%	0.5%	-26.5%	46.8%	55.3%	38.7%	35.2%	33.8%				0.00	<-Median->	10	OPM
*Operational Profit Margin (CF/Revenue) Ratio									OPM	10 Yrs	5.58%	5 Yrs	7.74%					should be	zero, it is a		check on calculations
														$1,975	<-12 mths	0.25%
EBITDA									$1,352.0	$1,691.0	$1,732.0	$1,845.0	$1,970.0	$1,994	$2,119	$2,166					EBITDA	From Mkt Sc
Change										25.07%	2.42%	6.52%	6.78%	1.22%	6.27%	2.22%		6.65%	<-Median->	4	Change
Margin									8.06%	9.40%	9.47%	9.77%	9.51%	9.42%	9.69%	9.53%		9.47%	<-Median->	5	Margin
Long Term Debt	$1,025.5	$973.9	$650.0	$1,044.7	$1,145.1	$1,231.0	$1,441.6	$2,630.4	$2,229.0	$2,612.0	$2,318.2	$2,502.7	$2,646.3	$2,646.3				307.12%	<-Total Growth	10	Debt	Type
Change	2.11%	-5.03%	-33.26%	60.72%	9.61%	7.50%	17.11%	82.46%	-15.26%	17.18%	-11.25%	7.96%	5.74%	0.00%				8.78%	<-Median->	10	Change	Lg Term R
Debt/Market Cap Ratio	0.23	0.17	0.11	0.17	0.13	0.12	0.15	0.26	0.15	0.16	0.15	0.15	0.16	0.17				0.15	<-Median->	10	Debt/Market Cap Ratio	Intang/GW
Assets/Current Liabilities Ratio	4.33	4.40	4.20	4.90	5.06	5.25	4.71	6.68	5.90	7.22	6.18	6.86	7.07	7.07				6.04	<-Median->	10	Assets/Current Liab Ratio	Liquidity
Current Liabilities/Asset Ratio	0.23	0.23	0.24	0.20	0.20	0.19	0.21	0.15	0.17	0.14	0.16	0.15	0.14	0.14				0.17	<-Median->	10	Current Liab/Asset Ratio	Liq. + CF
Debt to Cash Flow (Years)	1.89	1.78	1.15	2.42	1.69	1.74	2.07	3.51	3.24	1.77	1.46	1.71	1.69	1.67				1.76	<-Median->	10	Debt to Cash Flow (Years)	Debt Ratio
																						Leverage
Intangibles	$308.5	$373.1	$365.1	$346.2	$379.2	$391.7	$389.1	$2,914.4	$2,889.0	$2,850.2	$2,854.7	$2,739.0	$2,733.0	$2,733.0				648.56%	<-Total Growth	10	Intangibles	D/E Ratio
Goodwill	$1,649.9	$1,859.5	$2,220.7	$1,946.6	$1,931.5	$1,955.4	$1,973.8	$3,302.2	$3,306.5	$3,300.7	$3,301.2	$3,301.2	$3,307.4	$3,307.4				48.94%	<-Total Growth	10	Goodwill
Total	$1,958.4	$2,232.6	$2,585.8	$2,292.8	$2,310.7	$2,347.1	$2,362.9	$6,216.6	$6,195.5	$6,150.9	$6,155.9	$6,040.2	$6,040.4	$6,040.4				133.60%	<-Total Growth	10	Total
Change			15.82%	-11.33%	0.78%	1.58%	0.67%	163.09%	-0.34%	-0.72%	0.08%	-1.88%	0.00%	0.00%				0.04%	<-Median->	10	Change
Intangible/Market Cap Ratio	0.43	0.39	0.44	0.37	0.26	0.23	0.24	0.60	0.42	0.38	0.41	0.37	0.37	0.38				0.37	<-Median->	10	Intangible/Market Cap Ratio
Current Assets	$1,323.8	$1,211.6	$1,188.5	$1,191.1	$1,172.9	$1,193.0	$1,356.3	$1,916.8	$2,088.3	$2,500.5	$2,466.8	$2,183.3	$2,403.6	$2,403.60				Liquidity ratio of 1.5 and up, best
Current Liabilities	$1,144.9	$1,170.5	$1,206.3	$1,076.9	$1,063.8	$1,067.5	$1,285.9	$1,634.7	$1,877.6	$1,860.1	$2,198.2	$1,952.5	$1,960.8	$1,960.80				1.12	<-Median->	10	Ratio
Liquidity Ratio	1.16	1.04	0.99	1.11	1.10	1.12	1.05	1.17	1.11	1.34	1.12	1.12	1.23	1.23				1.12	<-Median->	5	Ratio
Liq. with CF aft div	1.53	1.41	1.36	1.38	1.58	1.59	1.44	1.47	1.34	1.91	1.66	1.65	1.78	1.78				1.66	<-Median->	5	Ratio
Liq. with CF aft div (WC)	1.55	1.59	1.54	1.69	1.74	1.77	1.62	1.64	1.64	2.02	1.73	1.82	1.97	1.78				1.82	<-Median->	5	Ratio
Liq. CF re  Inv+Div	1.31	1.10	1.38	1.11	1.32	1.27	1.18	0.75	1.18	1.63	1.43	1.39	1.46	1.89				1.43	<-Median->	5	Ratio
Curr Long Term Debt			$12.4	$12.4	$16.5	$15.5	$12.9	$13.3	$428.6	$20.6	$318.5	$18.2	$19.3	$19.3					Yes, current port.		no change
Liquidity Less CLTD			1.00	1.12	1.12	1.13	1.07	1.18	1.44	1.36	1.31	1.13	1.24	1.24				1.31	<-Median->	5	Ratio
Liq. with CF aft div			1.40	1.43	1.66	1.69	1.50	1.53	1.78	2.04	2.03	1.75	1.90	1.91				1.90	<-Median->	5	Ratio
Assets	$4,958.8	$5,150.4	$5,061.5	$5,279.5	$5,387.1	$5,606.1	$6,050.7	$10,922.2	$11,073.9	$13,423.9	$13,592.1	$13,401.3	$13,865.3	$13,865.30				Debt Ratio of 1.5 and up, best
Liabilities	$2,390.8	$2,605.3	$2,254.1	$2,595.4	$2,729.9	$2,912.9	$3,126.8	$5,266.2	$5,105.3	$7,268.5	$7,179.3	$6,782.9	$7,049.0	$7,049.00				1.97	<-Median->	10	Ratio
Debt Ratio	2.07	1.98	2.25	2.03	1.97	1.92	1.94	2.07	2.17	1.85	1.89	1.98	1.97	1.97				1.97	<-Median->	5	Ratio
Total Book Value	$2,568	$2,545	$2,807	$2,684	$2,657	$2,693	$2,924	$5,656	$5,969	$6,155	$6,413	$6,618	$6,816	$6,816				142.80%	<-Total Growth	10	Book Value
NCI		$0.8	$1.3	$15.5	$13.8	$12.6	$12.8	$13.2	$13.4	$13.2	$12.9	$13.9	$15.1	$13.4
Book Value	$2,568	$2,544	$2,806	$2,669	$2,643	$2,681	$2,911	$5,643	$5,955	$6,142	$6,400	$6,605	$6,801	$6,803	$6,803	$6,803		142.37%	<-Total Growth	10	Book Value
BV per share	$8.47	$8.73	$10.21	$10.50	$10.91	$11.43	$12.78	$22.02	$23.41	$24.49	$26.29	$27.88	$29.71	$29.71	$29.71	$29.71		191.06%	<-Total Growth	10	Book Value per Share
Change	9.27%	3.05%	16.95%	2.85%	3.94%	4.77%	11.84%	72.25%	6.29%	4.64%	7.37%	6.01%	6.57%	0.02%	0.00%	0.00%		-2.67%	P/B Ratio		Current/10 Year Median
P/B Ratio (Median)	1.80	1.99	2.15	2.14	2.86	3.66	3.36	1.91	2.09	2.34	2.24	2.40	2.46	2.38	0.00	0.00		2.20	P/B Ratio		Historical Median
P/B Ratio (Close)	1.76	2.23	2.11	2.35	3.30	3.77	3.36	1.82	2.49	2.61	2.35	2.48	2.37	2.31	2.31	2.31		11.28%	<-IRR #YR->	10	Book Value per Share	191.06%
Change	-9.42%	26.81%	-5.21%	11.05%	40.53%	14.19%	-10.92%	-45.64%	36.58%	4.68%	-9.78%	5.43%	-4.30%	-2.79%	0.00%	0.00%		6.17%	<-IRR #YR->	5	Book Value per Share	34.90%
Leverage (A/BK)	1.93	2.02	1.80	1.97	2.03	2.08	2.07	1.93	1.86	2.18	2.12	2.02	2.03	2.03				2.03	<-Median->	10	A/BV
Debt/Equity Ratio	0.93	1.02	0.80	0.97	1.03	1.08	1.07	0.93	0.86	1.18	1.12	1.02	1.03	1.03				1.03	<-Median->	10	Debt/Eq Ratio
Median Values									P/BV	10 yr Med	2.37	5 yr Med	2.34		-2.67%	Diff M/C
			-$10.21	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$29.71
								-$22.02	$0.00	$0.00	$0.00	$0.00	$29.71
Comprehensive Income	$386.6	$439.5	$778.6	$439.8	$532.8	$518.3	$680.6	$1,745.6	$644.1	$785.5	$936.9	$910.0	$1,054.3					35.41%	<-Total Growth	10	Comprehensive Income
NCI	$0.0	$7.5	$8.7	$9.1	$13.2	$14.7	$16.7	$2.0	$2.8	$1.2	$2.7	$3.4	$4.0					-54.02%	<-Total Growth	10	NCI
Shareholders	$386.6	$432.0	$769.9	$430.7	$519.6	$503.6	$663.9	$1,743.6	$641.3	$784.3	$934.2	$906.6	$1,050.3					36.42%	<-Total Growth	10	Comprehensive Income
Increase	-1.75%	11.74%	78.22%	-44.06%	20.64%	-3.08%	31.83%	162.63%	-63.22%	22.30%	19.11%	-2.95%	15.85%					15.9%	<-Median->	5	Comprehensive Income
5 Yr Running Average	$340.2	$371.1	$467.1	$482.5	$507.8	$531.2	$577.5	$772.3	$814.4	$867.3	$953.5	$1,002.0	$863.3					3.15%	<-IRR #YR->	10	Comprehensive Income	36.42%
ROE	15.1%	17.0%	27.4%	16.1%	19.7%	18.8%	22.8%	30.9%	10.8%	12.8%	14.6%	13.7%	15.4%					-9.64%	<-IRR #YR->	5	Comprehensive Income	-39.76%
5Yr Median	15.1%	15.6%	16.1%	16.1%	17.0%	18.8%	19.7%	19.7%	19.7%	18.8%	14.6%	13.7%	13.7%					6.34%	<-IRR #YR->	10	5 Yr Running Average	84.84%
% Difference from NI	0.0%	-2.0%	2.0%	-0.6%	0.5%	-2.5%	2.5%	0.5%	-1.2%	-0.2%	1.7%	0.9%	0.5%					2.25%	<-IRR #YR->	5	5 Yr Running Average	11.79%
Median Values										Diff	5, 10 yr	0.5%	0.5%
			-$769.9	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$1,050.3
								-$1,743.6	$0.0	$0.0	$0.0	$0.0	$1,050.3
			-$467.1	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$863.3
								-$772.3	$0.0	$0.0	$0.0	$0.0	$863.3
Current Liability Coverage Ratio	0.50	0.67	0.67	0.74	0.82	0.87	0.75	0.65	0.71	0.92	0.80	0.94	1.02	0.81							CFO / Current Liabilities
5 year Median	0.45	0.50	0.51	0.67	0.67	0.74	0.75	0.75	0.75	0.75	0.75	0.80	0.92	0.92				0.92	<-Median->	5	Current Liability Cov Ratio
Asset Efficiency Ratio	11.45%	15.14%	16.03%	15.10%	16.11%	16.48%	15.88%	9.68%	11.98%	12.69%	12.87%	13.69%	14.41%	11.40%							CFO / Total Assets
5 year Median	11.17%	11.45%	12.04%	15.10%	15.14%	16.03%	16.03%	15.88%	15.88%	12.69%	12.69%	12.69%	12.87%	12.87%				12.9%	<-Median->	5	Return on Assets
Return on Assets ROA	7.79%	9.35%	14.08%	8.47%	9.39%	10.19%	9.78%	15.72%	6.43%	5.92%	6.05%	6.31%	7.32%	7.55%				Net	Income/Assets		Return on Assets
5Yr Median	7.60%	7.79%	8.13%	8.47%	9.35%	9.39%	9.78%	9.78%	9.78%	9.78%	6.43%	6.31%	6.31%	6.31%				6.3%	<-Median->	5	Asset Efficiency Ratio
Return on Equity ROE	15.04%	18.94%	25.41%	16.75%	19.15%	21.32%	20.33%	30.42%	11.95%	12.95%	12.86%	12.81%	14.92%	15.39%				Net Inc/	Shareholders' equity		Return on Equity
5Yr Median	15.04%	15.65%	16.04%	16.75%	18.94%	19.15%	20.33%	20.33%	20.33%	20.33%	12.95%	12.86%	12.86%	12.95%				12.9%	<-Median->	5	Return on Equity
														$1,010	<-12 mths	-0.44%
Net Income	$386.3	$489.3	$721.6	$456.2	$519.3	$586.2	$608.4	$1,718.5	$714.6	$796.4	$825.7	$849.5	$1,018.8					41.19%	<-Total Growth	10	Net Income
NCI	$0.0	$7.5	$8.7	$9.1	$13.2	$14.7	$16.7	$2.0	$2.8	$1.2	$2.7	$3.4	$4.0								NCI
Shareholders	$386.3	$481.8	$712.9	$447.1	$506.1	$571.5	$591.7	$1,716.5	$711.8	$795.2	$823.0	$846.1	$1,014.8	$1,047	$1,040	$1,046		42.35%	<-Total Growth	10	Net Income
Increase	-1.40%	24.72%	47.97%	-37.28%	13.20%	12.92%	3.53%	190.10%	-58.53%	11.72%	3.50%	2.81%	19.94%	3.17%	-0.67%	0.58%		EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average	$340.4	$381.4	$465.4	$484.0	$506.8	$543.9	$565.9	$766.6	$819.5	$877.3	$927.6	$978.5	$838.2	$905.2	$954.2	$998.8		3.59%	<-IRR #YR->	10	Net Income	42.35%
Operating Cash Flow	$543.2	$546.1	$566.8	$432.3	$678.3	$707.4	$696.2	$750.4	$687.7	$1,474.1	$1,583.3	$1,461.4	$1,563.5					-9.98%	<-IRR #YR->	5	Net Income	-40.88%
Investment Cash Flow	-$227.0	-$357.0	$264.3	-$299.8	-$253.1	-$328.3	-$333.0	-$1,677.5	-$308.5	-$444.1	-$471.6	-$477.8	-$572.5					6.06%	<-IRR #YR->	10	5 Yr Running Ave.	80.08%
Total Accruals	$70.1	$292.7	-$118.2	$314.6	$80.9	$192.4	$228.5	$2,643.6	$332.6	-$234.8	-$288.7	-$137.5	$23.8					1.80%	<-IRR #YR->	5	5 Yr Running Ave.	9.34%
Total Assets	$4,958.8	$5,150.4	$5,061.5	$5,279.5	$5,387.1	$5,606.1	$6,050.7	$10,922.2	$11,073.9	$13,423.9	$13,592.1	$13,401.3	$13,865.3						Balance Sheet		Assets
Accruals Ratio	1.41%	5.68%	-2.34%	5.96%	1.50%	3.43%	3.78%	24.20%	3.00%	-1.75%	-2.12%	-1.03%	0.17%					-1.03%	<-Median->	5	Ratio
EPS/CF Ratio	0.66	0.60	0.84	0.54	0.56	0.61	0.61	1.74	0.53	0.46	0.46	0.45	0.50					0.54	<-Median->	10	EPS/CF Ratio
																		Should not be higher than 1.00
			-$713	$0	$0	$0	$0	$0	$0	$0	$0	$0	$1,015
								-$1,717	$0	$0	$0	$0	$1,015
			-$465	$0	$0	$0	$0	$0	$0	$0	$0	$0	$838
								-$767	$0	$0	$0	$0	$838
Change in Close	-1.0%	30.7%	10.9%	14.2%	46.1%	19.6%	-0.4%	-6.4%	45.2%	9.5%	-3.1%	11.8%	2.0%	-2.8%	0.0%				Count	30	Years of data
Expected?					down				down										Count	8	26.67%
Happened?																		% right	Count	2	25.00%
Financial Cash Flow	-$275.4	-$371.3	-$823.6	-$177.3	-$439.7	-$373.1	-$241.8	$1,005.1	-$332.7	-$861.9	-$1,107.4	$1,416.0	-$974.9						C F Statement		Financial CF
Total Accruals	$345.5	$664.0	$705.4	$491.9	$520.6	$565.5	$470.3	$1,638.5	$665.3	$627.1	$818.7	-$1,553.5	$998.7								Accruals
Accruals Ratio	6.97%	12.89%	13.94%	9.32%	9.66%	10.09%	7.77%	15.00%	6.01%	4.67%	6.02%	-11.59%	7.20%					6.01%	<-Median->	5	Ratio
Cash	$255.5	$73.3	$80.7	$36.0	$21.5	$27.5	$148.9	$226.9	$273.4	$441.5	$445.8	$13.4	$13.4	$13.4							Cash
Cash per Share	$0.84	$0.25	$0.29	$0.14	$0.09	$0.12	$0.65	$0.89	$1.07	$1.76	$1.83	$0.06	$0.06	$0.06				$1.07	<-Median->	5	Cash per Share
Percentage of Stock Price	5.66%	1.29%	1.36%	0.57%	0.25%	0.27%	1.52%	2.20%	1.84%	2.76%	2.96%	0.08%	0.08%	0.09%				1.84%	<-Median->	5	% of Stock Price
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Notes:
December 24, 2023.  Last estimates were for 2023, 2024 and 2024 of $19586M, $20166M and $20161M for Revenue, $4.21 and $4.45 2023/4 for AEPS, $3.73, $4.12 and $4.37 for EPS, $1.19, $1.27 and $1.44 for Dividends, $670M, $660M and $1050M for FCF, $4.17 and $4.11 2023/4 for CFPS, $875M, $944M and $970M for Net Income.
December 24, 2022. Last estimates were for 2022, 2023 and 2024 of $18510M, $19110M and $19052M for revenue, $3.49, $3.64 and $3.84 for EPS,
$1.08, $1.16 and $1.21 for Dividends, $510M, $738M and $1050M for FCF, $6.48, $4.96 and $6.23 for CFPS, and $848M, $857M and $882M for Net Income.
December 25, 2021.  Last estimates were for 2021 of $18134M, $18405M and $18863M for Revenue, $3.35, $3.46 and $3.85 for EPS, 0.96, $1.03 and $0.90 for Dividends,
$467M, $624M and $769M and $4.17 and $4.11 for CFPS for 2021-22, $837M, $847M for Net Income.
December 26, 2020.  Last estimates were for 2020, 2021 and 2022 of 17222M, $17684M and $18078M for Revenue, $3.10, $3.35 and $3.65 for EPS,
$0.87 and $0.94 for Dividends for 2020 and 2021, $4.17 and 4.11 for CFPS for 2021 and 2021 and $770M, $815M and $849M for Net Income.
December 28, 2019.  Last estimates were for 2019, 2020 and 2021 of $16599M, $16974M and $17401M for Revenue, $3.16, $3.34 and $3.36 for EPS,
$0.72, $0.80 and $0.80 for Dividends, $4.02, $4.16 and $4.55 for CFPS and $754M and $782M for Net Income for 2019 and 2020.
December 28, 2018.  Last estimates were for 2018, 2019 and 2020 of $14531M, $16697M and $16964M for Revenue, $2.80, $2.95 and $3.25 for EPS,
$3.57 for CFPS for 2018 and $624M, $745M and $795M for Net Income.
December 30, 2017.  Last estimates were for 2017, 2018 and 2019 of $13175M, $13658M and 13696M for Revenue, $2.85, $2.85 and $2.91 for EPS,
$3.57 and 3.84 for CFPS for 2017 and 2018 and $595M and $634M for Net Income for 2017 and 2018.
December 31, 2016.  Last estimates were for 2016, 2017 and 2018 of $12578M, $12991M and $13171M for Revenue, $2.22, $2.38 and $2.41 for EPS,
$2.89, $3.00 and $3.15 for CFPS and $531M, $570M and $577M for Net Income.
December 27, 2015.  Last estimates were for 2015, 2016 and 2017 of $12013M, $12251M and $12504M for Revenue, $1.89, $2.07 and $2.25 for EPS,
$8.35, $8.87 and $9.01 for CFPS and $482M, $511M and $572M for Net Income.
Dececmember 27, 2014.  Last estimates were for 2014. 2015 and 2016 of $11485M, $11640M and $11867M for Revenue, $5.22, $5.70 and $6.16 for ESP, $7.57, 8.35 and $8.94 for CFPS.
December 27, 2013.  Last Estimates were for 2013 and 2014 of $12076 and $12337M for Revenue, $5.07 and $5.49 for EPS.
January 19, 2012.  Laat estimates were for $11871M and $12074M Revenue, $4.27 and $4.65 EPS and $6.02 and f$6.49 CFPS.
Dec 31, 2011.  Last I checked I got estimates for 2011 and 2012 of $3.88 and $4.19 for EPS and $6.11 and $6.50 for CF.
Dec 31, 2010.  The last time I reviewed this stock, I got estimates for 2010 and 2011 for earnings of 3.40 and $3.70 and CF of $5.10 and $5.55.
Jan 08, 2010.  When I last looked at this stock in Mar 2009, I got 2009 earnings of $2.57
2008.  This stock is doing very well. One concern is lack of Revenue growth for 2007 and 2008.
2007.  I was doing well up to Sept 2007.
2006.  Dividend rate is low, but increasing rapidly.  Sales are not increasing more than earnings.  Accural Ratio is much better.
2005: I am  still happy with this stock.  It seems to be leaverage, which is not good, but sales and Dividends and Earnings per share are increasing. Negatatives are: Accrual Ratio is high, debt is high and earnings
per share are increasing faster than sales.
2004: This stock is doing what I bought it for.  I am still happy with it.  However, I note current liability and current assets are close.  2004
2003: This stock is doing exactly what I bought it to do.  Good Dividend Growth and reasonable stock price growth. I am still happy with it.
In 2012 the company converted  Class B shares into Class A shares and Class A shares into Common Shares.  There are no longer multiple voting Shares
Class B shares have 16 votes each.  They are mostly owned by independent store owners.  Class B shares have about 8.9% of the vote.
Serge Ferland is the only director with Class B shares and he has just over 10,000 of the 630,000 outstanding
They have been increasing their dividends since 1995.
1993.  It entered the Toronto Stock Exchange
1986.  It entered the Montreal Stock Exchange
In 1980's Metro merged with Epiciers Unis Inc. and took on the name Metro-Richelieu Inc. (dropping the "Groupe" from its name)
1975.  Metro merged with the Marché Richelieu grocery chain in 1975 to become Groupe Metro-Richelieu Inc in 1976.
1972 Name change to Metro-Ltée
1963 Name change to Metro-Lasalle
1952.  Name change to Épiceries Lasalle Groceteria
1947.  They were founded in Verdun Quebec.  They are head quartered in Montreal, Quebec. Magasins Lasalle Stores Ltée.
In 2015 the 2016 Revenue estimate was $12,578M.  The revenue came in at 12,788M.  In 2016 the 2017 estimate was $13,175M and Revenue came in at $13,175M.
In 2017 the 2018 estimates was $14,531M and Revenues came in at $13,383
Sector:
Consumer Staple
What should this stock accomplish?
Since this is a consumer staple stock, it should have stability to your portfolio.  You should expect low dividends and good increase.  You would buy for increasing dividends and capital gains.
Would I buy this company and Why.
I think that this is a solid dividend growth company and should be considered when looking at Consumer Staple stocks.
Why am I following this stock.
I was following this stock before I bought it because it was on Mike Higgs' Canadian Dividend Growth stock list and on the other dividend lists that I was following.
Why I bought this stock.
I bought this stock first at the end of 2001 because it is a good time to purchase as market is relatively low and Metro was on my hit list.  Metro's P/E is relatively low for this stock.
I brought this stock in 2004 as I was looking for something I already own, that has increasing dividends and reasonable P/E for stock at this time.
By 2009, Metro stock was over 10% of my portfolio because it had grown so strong, so I sold some to reduce the percentage of it in my portfolio.
Dividends
Dividends are paid between cycle 2 and 3.  Generally, they are paid in November, March, June, and September and each year.  Dividends are declared in one month for shareholders of record in the following month and then paid in the next month.
For example, The dividend declared on January 28, 2013 is for shareholders of record of February 19, 2013 and is payable on March 15, 2013.
Dividend Policy
The Company has a policy of paying dividends representing 20 to 30% of its net earnings from the previous year before extraordinary items.
Misson Statement or closes thing I can find.
Metro inc. employs in Quebec and Ontario over 65,000 people, whose mission is to satisfy their customers every day and earn their long-term loyalty.
How they make their money
Metro is the third-largest grocery retailer in Canada (behind Loblaw and Sobeys) and also owns a top pharmacy chain in Quebec. Its grocery banners include supermarket chain Metro,
discounters Super C and Food Basics, and ethnic food grocer Adonis, while its pharmacies primarily operate under the Jean Coutu and Brunet trademarks. Unlike its peers Loblaw and
Sobeys that operate chain stores across Canada, Metro's operations are concentrated in the provinces of Quebec and Ontario, with no presence in western Canada.
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.
Copyright © 2008 Website of SPBrunner. All rights reserved.
Shares; '%, Value $M	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M			Shares	%, Val $M			Change
Date	2015	Dec 31	2016	Dec 30	2017	Dec 29	2018	Dec 28	2019	Dec 26	2020	Dec 25	2021	Dec 24	2022			Dec 24	2023
La Flèche, Eric Richer	0.11%	0.252	0.11%	0.256	0.10%	0.266	0.10%	0.266	0.11%	0.271	0.11%	0.271	0.11%	0.274	0.12%			0.274	0.12%			0.00%
CEO - Shares - Amount	$10.628		$10.804		$10.277		$15.495		$17.023		$17.283		$18.711		$19.343				$18.808
Options - percentage	0.73%	1.555	0.68%	1.231	0.48%	1.340	0.53%	0.923	0.37%	1.136	0.47%	1.170	0.49%	1.023	0.45%			1.175	0.51%		exclude Sub.Vot. Shares A '17	14.89%
Options - amount	$74.028		$66.723		$49.450		$78.169		$58.981		$72.569		$80.921		$72.141				$80.592		Do not know what they are
Thibault, François	0.00%	0.012	0.01%	0.018	0.01%	0.022	0.01%	0.025	0.01%	0.028	0.01%	0.028	0.01%	0.028	0.01%			0.034	0.01%			21.44%
CFO - Shares - Amount	$0.043		$0.495		$0.716		$1.300		$1.610		$1.797		$1.945		$1.984				$2.343
Options - percentage	0.13%	0.208	0.09%	0.225	0.09%	0.220	0.09%	0.188	0.08%	0.163	0.07%	0.204	0.09%	0.175	0.08%			0.171	0.07%			-1.93%
Options - amount	$12.885		$8.922		$9.029		$12.842		$12.030		$10.399		$14.086		$12.328				$11.756
Coutu, Jean-Michel														0.002	0.00%			0.001	0.00%			-7.72%
Officer - Shares - Amount															$0.108				$0.097
Options - percentage														0.051	0.02%			0.088	0.04%			71.59%
Options - amount															$3.601				$6.009
Bich, Geneviève		0.003	0.00%	0.005	0.00%	0.007	0.00%	0.007	0.00%	0.013	0.01%	0.015	0.01%	0.026	0.01%			0.027	0.01%		Vice President,	1.95%
Officer - Shares - Amount			$0.108		$0.194		$0.387		$0.433		$0.861		$1.039		$1.868				$1.852		Human Resources
Options - percentage		0.056	0.02%	0.061	0.02%	0.069	0.03%	0.082	0.03%	0.069	0.03%	0.079	0.03%	0.064	0.03%			0.071	0.03%			11.64%
Options - amount			$2.385		$2.468		$4.029		$5.260		$4.413		$5.444		$4.503				$4.888
Coyles, Stephenie														0.003	0.00%			0.003	0.00%			0.00%
Director - Shares - Amount															$0.226				$0.219
Options - percentage														0.018	0.01%			0.020	0.01%			7.57%
Options - amount															$1.283				$1.342
Bertrand, Maryse								0.026	0.01%	0.026	0.01%	0.026	0.01%	0.026	0.01%			0.026	0.01%			0.00%
Director - Shares - Amount									$1.662		$1.662		$1.799		$1.835				$1.784
Options - percentage								0.008	0.00%	0.009	0.00%	0.011	0.00%	0.013	0.01%			0.015	0.01%			15.12%
Options - amount									$0.526		$0.607		$0.789		$0.926				$1.037
Goodman, Russell Andrew														0.024	0.01%			0.024	0.01%			0.00%
Director - Shares - Amount															$1.714				$1.667
Options - percentage														0.016	0.01%			0.017	0.01%			9.33%
Options - amount															$1.100				$1.169
Boivin, Pierre										0.005	0.00%	0.005	0.00%	0.005	0.00%			0.005	0.00%			1.63%
Chairman - Shares - Amt											$0.323		$0.355		$0.368				$0.364
Options - percentage										0.002	0.00%	0.006	0.00%	0.011	0.00%			0.015	0.01%			44.31%
Options - amount											$0.140		$0.434		$0.744				$1.044
Raymont, Real	0.02%	0.054	0.02%	0.054	0.02%	0.054	0.02%	0.054	0.02%	0.054	0.02%	0.054	0.02%								File Last Dec 2020
Chairman - Shares - Amt	$2.326		$2.317		$2.170		$3.150		$3.450		$3.450		$3.735
Options - percentage	0.02%	0.048	0.02%	0.034	0.01%	0.038	0.02%	0.039	0.02%	0.061	0.03%	0.042	0.02%								exclude Sub.Vot. Shares A '17
Options - amount	$1.931		$2.066		$1.348		$2.237		$2.503		$3.901		$2.910
Lessard, Pierre H.
Chairman - Shares - Amt																					Chairman in 2014
Options - percentage
Options - amount
Pelletier, Guy																					Dated 2005
10% Holder
Increase in O/S Shares	0.31%	0.730	0.31%	0.641	0.28%	0.503	0.20%	1.112	0.44%	0.265	0.11%	0.446	0.18%	0.538	0.23%			0.190	0.08%
due to SO	$18.731		$31.441		$27.505		$20.211		$64.863		$16.931		$28.495		$37.213				$13.403
Book Value	$9.900		$12.400		$12.900		$10.400		$28.000		$8.200		$14.200		$23.500				$8.800
Insider Buying	-$0.034		-$0.345		$0.000		-$0.046		$0.000		-$0.419		-$0.132		$0.000				-$0.223
Insider Selling	$16.171		$4.433		$16.198		$12.910		$39.883		$6.937		$18.893		-$28.108				$5,126.191		Not taking up options
Net Insider Selling	$16.137		$4.088		$16.198		$12.864		$39.883		$6.518		$18.761		-$28.108				$5,125.968
% of Market Cap	0.16%		0.04%		0.16%		0.09%		0.25%		0.04%		0.11%		-0.17%				32.64%
Directors		14		13		14		15		13		12		12				12
Women	36%	5	36%	5	38%	5	36%	5	33%	4	31%	3	25%	4	33%			4	33%
Minorities	0%	0	0%	0	0%	0	0%	0	0%	0	0%	0	0%	1	8%			1	8%
Institutions/Holdings	46.88%	257	45.71%	257	50.84%	248	50.98%	20	43.58%	20	33.50%	20	31.21%	20	33.13%			20	28.41%
Total Shares Held	47.86%	106.320	46.69%	115.776	45.18%	130.648	50.98%	110.697	43.20%	82.822	34.03%	75.484	31.86%	77.971	34.06%			65.028	28.40%
Increase/Decrease	-0.99%	2.995	2.90%	12.759	12.39%	1.404	1.09%	-2.319	-2.05%	-1.976	-2.33%	-3.797	-4.79%	2.828	3.76%			-0.295	-0.45%
Starting No. of Shares		103.325		103.017		129.244		113.016	Top 20 MS	84.798	Top 20 MS	79.280	Top 20 MS	75.142	Top 20 MS			65.323	Top 20 MS
Copyright © 2008 Website of SPBrunner. All rights reserved.
My stock