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While I try to be accurate, I assume no responsibility for any figure in this spreadsheet. Estimates Estimates Estimates
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Saputo Inc TSX: SAP OTC: SAPIF http://www.saputo.com/ Fiscal Yr: Mar 31
Year 31-Mar-11 31-Mar-12 31-Mar-13 31-Mar-14 31-Mar-15 31-Mar-16 31-Mar-17 31-Mar-18 31-Mar-19 31-Mar-20 31-Mar-21 31-Mar-22 31-Mar-23 31-Mar-24 31-Mar-25 31-Mar-26 Value Description #Y Item
Accounting Rules C GAAP IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS Accounting Rules
Split Date 9/30/14 Split Date
Split 2 Split
Operating Costs $5,215 $6,099 $6,437 $8,213 $9,596 $9,817 $9,873 $10,278 $12,281 $13,476 $12,823 $13,880 $16,290 153.07% <-Total Growth 10 Operating Costs
Change 1.88% 16.97% 5.53% 27.59% 16.85% 2.31% 0.57% 4.10% 19.49% 9.73% -4.84% 8.24% 17.36% 8.99% <-Median-> 10 Change
Ratio to Revenue 0.87 0.88 0.88 0.89 0.90 0.89 0.88 0.89 0.91 0.90 0.90 0.92 0.91 0.90 <-Median-> 10 Ratio to Revenue
Revenue* $6,025 $6,930 $7,298 $9,233 $10,658 $10,992 $11,163 $11,543 $13,502 $14,944 $14,294 $15,035 $17,843 $17,919 $18,553 144.50% <-Total Growth 10 Revenue
Increase 3.70% 15.02% 5.30% 26.52% 15.43% 3.13% 1.56% 3.40% 16.98% 10.68% -4.35% 5.18% 18.68% 0.43% 3.54% 9.35% <-IRR #YR-> 10 Revenue 144.50%
5 year Running Average $5,338 $5,924 $6,371 $7,059 $8,029 $9,022 $9,868 $10,717 $11,571 $12,428 $13,089 $13,863 $15,123 $16,007 $16,729 9.10% <-IRR #YR-> 5 Revenue 54.59%
Revenue per Share $14.78 $17.41 $18.56 $23.67 $27.17 $28.00 $28.90 $29.79 $34.60 $36.57 $34.67 $36.08 $42.32 $42.50 $44.01 9.03% <-IRR #YR-> 10 5 yr Running Average 137.36%
Increase 5.36% 17.79% 6.60% 27.52% 14.82% 3.05% 3.21% 3.09% 16.14% 5.68% -5.20% 4.07% 17.31% 0.43% 3.54% 7.13% <-IRR #YR-> 5 5 yr Running Average 41.11%
5 year Running Average $12.95 $14.50 $15.75 $17.69 $20.32 $22.96 $25.26 $27.51 $29.69 $31.57 $32.91 $34.34 $36.85 $38.43 $39.91 8.59% <-IRR #YR-> 10 Revenue per Share 128.05%
P/S (Price/Sales) Med 1.20 1.21 1.24 1.09 1.19 1.26 1.49 1.47 1.20 1.15 1.02 0.96 0.73 0.78 0.00 7.27% <-IRR #YR-> 5 Revenue per Share 42.05%
P/S (Price/Sales) Close 1.48 1.21 1.39 1.18 1.28 1.49 1.59 1.39 1.32 0.91 1.09 0.82 0.83 0.68 0.65 8.87% <-IRR #YR-> 10 5 yr Running Average 133.91%
*Revenue in M CDN $  P/S Med 20 yr  1.07 15 yr  1.19 10 yr  1.17 5 yr  1.02 -42.08% Diff M/C 6.02% <-IRR #YR-> 5 5 yr Running Average 33.96%
-$7,298 $0 $0 $0 $0 $0 $0 $0 $0 $0 $17,843
-$11,543 $0 $0 $0 $0 $17,843
-$6,371 $0 $0 $0 $0 $0 $0 $0 $0 $0 $15,123
-$10,717 $0 $0 $0 $0 $15,123
-$18.56 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $42.32
-$29.79 $0.00 $0.00 $0.00 $0.00 $42.32
-$15.75 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $36.85
-$27.51 $0.00 $0.00 $0.00 $0.00 $36.85
Adjusted Profit CDN$ $461.7 $505.8 $510.6 $567.0 $582.8 $626.9 $731.1 $704.2 $623.6 $724.0 $715.0 $485.0 $755.0
Basic $2.24 $2.51 $2.58 $1.45 $1.48 $1.60 $1.87 $1.82 $1.60 $1.81 $1.74 $1.17 $1.80
AEPS* Dilued $2.21 $2.47 $2.55 $1.43 $1.46 $1.58 $1.85 $1.80 $1.59 $1.80 $1.74 $1.17 $1.80 $1.81 $2.24 $2.70 -29.41% <-Total Growth 10 AEPS
Increase 20.77% 11.76% 3.24% -43.92% 2.10% 8.22% 16.84% -2.50% -11.67% 13.21% -3.33% -32.76% 53.85% 0.56% 23.76% 20.54% 10 0 10 Years of Data, EPS P or N 100.00%
AEPS Yield 10.10% 11.70% 9.89% 5.14% 4.19% 3.79% 4.02% 4.35% 3.49% 5.41% 4.60% 3.95% 5.11% 6.29% 7.78% 9.38% -3.42% <-IRR #YR-> 10 AEPS -29.41%
5 year Running Average $1.95 $2.10 $2.02 $1.90 $1.77 $1.62 $1.66 $1.72 $1.76 $1.62 $1.62 $1.66 $1.75 $1.94 0.00% <-IRR #YR-> 5 AEPS 0.00%
Payout Ratio 14.14% 14.78% 16.08% 31.47% 34.59% 33.86% 31.69% 35.00% 41.19% 37.50% 39.94% 60.68% 40.00% 39.78% 32.14% 26.67% -1.82% <-IRR #YR-> 10 5 yr Running Average -16.75%
5 year Running Average 20.20% 18.43% 22.21% 26.15% 29.54% 33.32% 35.27% 35.85% 37.07% 42.86% 43.86% 43.58% 42.51% 39.85% -0.04% <-IRR #YR-> 5 5 yr Running Average -0.20%
Price/AEPS Median 8.06 8.52 9.03 18.06 22.18 22.29 23.39 24.28 26.16 23.29 20.38 29.55 17.19 18.29 0.00 0.00 22.79 <-Median-> 10 Price/AEPS Median
Price/AEPS High 9.90 9.72 10.13 19.94 25.51 26.35 26.28 26.38 28.65 25.53 23.77 35.94 20.65 20.24 0.00 0.00 25.91 <-Median-> 10 Price/AEPS High
Price/AEPS Low 6.21 7.32 7.94 16.19 18.86 18.23 20.50 22.19 23.67 21.04 16.99 23.16 13.72 16.35 0.00 0.00 19.68 <-Median-> 10 Price/AEPS Low
Price/AEPS Close 9.90 8.54 10.11 19.47 23.84 26.35 24.86 22.97 28.65 18.49 21.72 25.31 19.56 15.90 12.85 10.66 23.41 <-Median-> 10 Price/AEPS Close
Trailing P/AEPS Close 11.96 9.55 10.44 10.92 24.34 28.52 29.04 22.40 25.31 20.94 20.99 17.02 30.09 15.99 15.90 12.85 23.37 <-Median-> 10 Trailing P/AEPS Close
Median Values DPR 10 Yrs 36.25% 5 Yrs   40.00% P/CF 5 Yrs   in order 23.29 25.53 21.04 21.72 -31.72% Diff M/C DPR 75% to 95% best
* Adjusted Earnings per Share
-$2.55 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.80
-$1.80 $0.00 $0.00 $0.00 $0.00 $1.80
-$1.95 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.62
-$1.62 $0.00 $0.00 $0.00 $0.00 $1.62
Pre-split '14 $2.18 $1.89 $2.44 $2.73
EPS Basic $1.09 $0.95 $1.22 $1.37 $1.55 $1.53 $1.86 $2.21 $1.94 $1.46 $1.53 $0.66 $1.49 22.13% <-Total Growth 10 EPS Basic
EPS* $1.08 $0.93 $1.21 $1.35 $1.53 $1.51 $1.84 $2.18 $1.93 $1.45 $1.52 $0.66 $1.48 $1.88 $2.11 22.82% <-Total Growth 10 EPS Diluted
Increase 18.03% -13.89% 29.57% 12.03% 13.33% -1.31% 21.85% 18.48% -11.47% -24.87% 4.83% -56.58% 124.24% 27.03% 12.23% 10 0 10 Years of Data, EPS P or N 100.00%
5 year Increases 89.47% 34.78% 79.85% 47.54% 41.67% 62.37% 52.70% 61.48% 26.14% -3.97% -17.39% -69.72% -23.32% 29.66% 38.82% 33.91% <-Median-> 10 5 year Increases
Earnings Yield 4.9% 4.4% 4.7% 4.8% 4.4% 3.6% 4.0% 5.3% 4.2% 4.4% 4.0% 2.2% 4.2% 6.5% 7.3% 2.08% <-IRR #YR-> 10 Earnings per Share 22.82%
5 year Running Average $0.79 $0.86 $0.96 $1.10 $1.22 $1.31 $1.49 $1.68 $1.80 $1.78 $1.78 $1.55 $1.41 $1.40 $1.53 -7.45% <-IRR #YR-> 5 Earnings per Share -32.11%
10 year Running Average $0.62 $0.68 $0.76 $0.84 $0.94 $1.05 $1.17 $1.32 $1.45 $1.50 $1.54 $1.52 $1.55 $1.60 $1.66 3.90% <-IRR #YR-> 10 5 yr Running Average 46.67%
* ESP per share (Cdn GAAP) E/P 10 Yrs 4.22% 5Yrs 4.20% -3.49% <-IRR #YR-> 5 5 yr Running Average -16.29%
-$1.21 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.48
-$2.18 $0.00 $0.00 $0.00 $0.00 $1.48
-$0.96 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.41
-$1.68 $0.00 $0.00 $0.00 $0.00 $1.41
Dividends paid in Cash $128.93 $147.05 $161.65 $175.32 $197.70 $210 $228 $244 $254.6 $269.7 $204.6 $209.00 $199.00 23.10% <-Total Growth 10 Dividends paid in Cash
% of Net Income 33.69% 32.60% 42.45% 36.38% 37.09% 34.56% 37.93% 33.37% 29.87% 35.71% 35.11% 33.41% 31.81% 34.83% <-Median-> 10 % of Net Income
Dividend* $0.74 $0.80 Estimates Dividend*
Increase 2.78% 8.11% Estimates Increase
Payout Ratio EPS 39.36% 37.91% Estimates Payout Ratio EPS
Special Dividends $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 <-Median-> 10 Special Dividends
Pre-split '02
Pre-split '07
Pre-split '14 $0.63 $0.73 $0.82 $0.90
Dividend* $0.31 $0.37 $0.41 $0.45 $0.51 $0.54 $0.59 $0.63 $0.66 $0.68 $0.70 $0.71 $0.72 $0.72 $0.72 $0.72 75.61% <-Total Growth 10 Dividends
Increase 8.70% 16.80% 12.33% 9.76% 12.22% 5.94% 9.35% 7.69% 3.97% 3.05% 2.96% 2.16% 1.41% 0.00% 0.00% 0.00% 23 0 26 Years of data, Count P, N 88.46%
Ave Increases, 5 years 12.05% 11.74% 10.37% 11.30% 12.32% 9.32% 8.54% 8.00% 5.94% 5.23% 3.76% 2.54% 1.98% 1.33% 0.72% 0.28% 6.97% <-Median-> 10 5 year Increases
Dividends 5 Yr Running $0.26 $0.29 $0.33 $0.37 $0.41 $0.45 $0.50 $0.54 $0.58 $0.62 $0.65 $0.67 $0.69 $0.70 $0.71 $0.72 110.03% <-Total Growth 10 Dividends 5 Yr Running
Yield H/L Price 1.76% 1.73% 1.78% 1.74% 1.56% 1.52% 1.35% 1.44% 1.57% 1.61% 1.96% 2.05% 2.33% 2.17% 1.59% <-Median-> 10 Yield H/L Price
Yield on High  Price 1.43% 1.52% 1.59% 1.58% 1.36% 1.28% 1.21% 1.33% 1.44% 1.47% 1.68% 1.69% 1.94% 1.97% 1.45% <-Median-> 10 Yield on High  Price
Yield on Low Price 2.28% 2.02% 2.03% 1.94% 1.83% 1.86% 1.55% 1.58% 1.74% 1.78% 2.35% 2.62% 2.91% 2.43% 1.85% <-Median-> 10 Yield on Low Price
Yield on Close Price 1.43% 1.73% 1.59% 1.62% 1.45% 1.28% 1.27% 1.52% 1.44% 2.03% 1.84% 2.40% 2.05% 2.50% 2.50% 2.50% 1.57% <-Median-> 10 Yield on Close Price
Payout Ratio EPS 28.94% 39.25% 34.02% 33.33% 33.01% 35.43% 31.79% 28.90% 33.94% 46.55% 45.72% 107.58% 48.65% 38.30% 34.12% #DIV/0! 34.68% <-Median-> 10 DPR EPS
DPR EPS 5 Yr Running 32.99% 34.19% 34.27% 33.30% 33.51% 34.71% 33.42% 32.16% 32.37% 34.57% 36.32% 43.48% 49.08% 50.36% 46.60% #DIV/0! 34.04% <-Median-> 10 DPR EPS 5 Yr Running
Payout Ratio CFPS 21.59% 27.78% 24.97% 26.75% 25.73% 24.78% 21.05% 30.17% 28.90% 26.60% 26.58% 42.70% 29.62% 21.95% 20.87% 19.78% 26.68% <-Median-> 10 DPR CF
DPR CF 5 Yr Running 23.46% 24.39% 23.70% 24.35% 25.38% 25.86% 24.30% 25.35% 25.85% 26.03% 26.37% 30.12% 30.01% 28.10% 26.53% 24.82% 25.85% <-Median-> 10 DPR CF 5 Yr Running
Payout Ratio CFPS WC 16.00% 17.49% 19.03% 17.37% 18.26% 17.60% 17.07% 19.20% 21.09% 19.39% 18.54% 26.23% 19.98% 21.95% 20.87% 19.78% 18.87% <-Median-> 10 DPR CF WC
DPR CF WC 5 Yr Running 22.08% 20.37% 19.59% 18.16% 17.68% 17.92% 17.78% 17.91% 18.63% 18.86% 19.01% 20.62% 20.76% 20.93% 21.23% 21.52% 18.40% <-Median-> 10 DPR CF WC 5 Yr Running
Median Values 10 Yr Med 10 Yr Cl 1.59% 1.57% 5 Yr Med 5 Yr Cl 1.96% 2.03% 5 Yr Med Payout 46.55% 28.90% 19.98% 2.71% <-IRR #YR-> 5 Dividends 14.29%
* Dividends per share  10 Yr Med and Cur. 57.09% 59.36% 5 Yr Med and Cur. 27.66% 23.38% Last Div Inc ---> $0.175 $0.180 2.86% 15.72% <-IRR #YR-> 10 Dividends 75.61%
Dividends Growth 15 7.90% <-IRR #YR-> 15 Dividends 213.04%
Dividends Growth 20 10.37% <-IRR #YR-> 20 Dividends 620.00%
Dividends Growth 25 13.56% <-IRR #YR-> 25 Dividends 2300.00%
Dividends Growth 30 13.00% <-IRR #YR-> 26 Dividends
Dividends Growth 5 -$0.63 $0.00 $0.00 $0.00 $0.00 $0.72 Dividends Growth 5
Dividends Growth 10 -$0.41 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.68 $0.00 $0.00 $0.72 Dividends Growth 10
Dividends Growth 15 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.72 Dividends Growth 15
Dividends Growth 20 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.72 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 $0.72 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 $0.72
Historical Dividends Historical High Div 2.74% Low Div 0.67% 10 Yr High 2.89% 10 Yr Low 1.21% Med Div 1.73% Close Div 1.59% Historical Dividends
High/Ave/Median Values Curr diff Exp. -8.70%     273.39% Exp. -13.43% 106.76% Cheap 44.61% Cheap 57.37% High/Ave/Median 
Future Dividend Yield Div Yield 2.86% earning in 5.00 Years at IRR of 2.71% Div Inc. 14.29% Future Dividend Yield
Future Dividend Yield Div Yield 3.27% earning in 10.00 Years at IRR of 2.71% Div Inc. 30.61% Future Dividend Yield
Future Dividend Yield Div Yield 3.73% earning in 15.00 Years at IRR of 2.71% Div Inc. 49.27% Future Dividend Yield
Future Dividend Paid Div Paid $0.82 earning in 5 Years at IRR of 2.71% Div Inc. 14.29% Future Dividend Paid
Future Dividend Paid Div Paid $0.94 earning in 10 Years at IRR of 2.71% Div Inc. 30.61% Future Dividend Paid
Future Dividend Paid Div Paid $1.07 earning in 15 Years at IRR of 2.71% Div Inc. 49.27% Future Dividend Paid
Dividend Covering Cost Total Div $3.80 over 5 Years at IRR of 2.71% Div Cov. 13.20% Dividend Covering Cost
Dividend Covering Cost Total Div $7.32 over 10 Years at IRR of 2.71% Div Cov. 25.44% Dividend Covering Cost
Dividend Covering Cost Total Div $11.34 over 15 Years at IRR of 2.71% Div Cov. 39.41% Dividend Covering Cost
I am earning GC Div Gr 260.00% 9/25/06 # yrs -> 17 2006 $9.26 Cap Gain 210.80% I am earning GC
I am earning Div org yield 2.16% 12/31/14 RRSP Div G Yrly 16.75% Div start $0.20 -2.16% 7.78% I am earning Div
I am earning GC Div Gr -21.74% 10/22/13 # yrs -> 10 2013 $51.22 Cap Gain -43.81% I am earning GC
I am earning Div org yield 1.80% 12/31/14 TFSA Div G Yrly -18.59% Div start $0.92 -1.80% 1.41% I am earning Div
Yield if held 5 years 3.39% 3.73% 3.21% 3.70% 3.90% 3.00% 2.78% 2.74% 2.54% 2.08% 1.97% 1.64% 1.65% 1.73% 1.72% 2.03% 2.64% <-Median-> 10 Paid Median Price
Yield if held 10 years 7.03% 6.01% 5.86% 6.54% 6.11% 5.80% 5.97% 4.93% 5.39% 5.21% 3.90% 3.37% 3.13% 2.79% 2.22% 2.04% 5.30% <-Median-> 10 Paid Median Price
Yield if held 15 years 12.08% 9.54% 11.42% 12.04% 9.63% 9.00% 9.52% 8.17% 7.53% 7.25% 5.64% 5.92% 5.56% 4.04% 9.26% <-Median-> 10 Paid Median Price
Yield if held 20 years 19.91% 18.56% 13.88% 15.27% 15.64% 11.69% 10.29% 10.46% 8.71% 7.80% 15.27% <-Median-> 7 Paid Median Price
Yield if held 25 years 24.17% 21.22% 15.26% 16.28% 16.20% 22.69% <-Median-> 2 Paid Median Price
Item
Cost cover if held 5 years 14.03% 14.96% 12.88% 15.01% 15.76% 12.72% 11.81% 11.74% 11.27% 9.51% 9.20% 7.79% 7.90% 8.46% 8.51% 10.12% 11.51% <-Median-> 10 Paid Median Price EPS
Cost cover if held 10 years 42.76% 36.40% 36.00% 41.42% 38.78% 38.56% 40.34% 34.05% 38.95% 39.53% 30.92% 27.79% 26.74% 24.89% 20.52% 19.39% 38.67% <-Median-> 10 Paid Median Price AEPS
Cost cover if held 15 years 81.92% 67.81% 83.11% 93.73% 77.32% 74.64% 83.71% 76.06% 73.66% 74.70% 61.10% 67.90% 67.03% 51.08% 75.38% <-Median-> 10 Paid Median Price CFPS
Cost cover if held 20 years 166.30% 161.62% 129.48% 152.76% 166.64% 132.74% 124.00% 134.86% 119.20% 112.55% 152.76% <-Median-> 7 Paid Median Price FCF 
Cost covered if held 25 years 280.85% 263.43% 204.08% 233.39% 247.43% 272.14% <-Median-> 2 Paid Median Price
Yr  Item Tot. Growth
Revenue Growth  $11,543 $13,502 $14,944 $14,294 $15,035 $17,843 $87,160 54.59% <-Total Growth 5 Revenue Growth  54.59%
AEPS Growth $1.80 $1.59 $1.80 $1.74 $1.17 $1.80 $9.90 0.00% <-Total Growth 5 AEPS Growth 0.00%
Net Income Growth $853 $755 $583 $626 $626 $622 $4,064 -27.04% <-Total Growth 5 Net Income Growth -27.04%
Cash Flow Growth $809 $885 $1,037 $1,078 $693 $1,025 $5,527 26.68% <-Total Growth 5 Cash Flow Growth 26.68%
Dividend Growth $0.63 $0.66 $0.68 $0.70 $0.71 $0.72 $4.09 14.29% <-Total Growth 5 Dividend Growth 14.29%
Stock Price Growth $41.35 $45.55 $33.29 $37.79 $29.61 $35.20 -14.87% <-Total Growth 5 Stock Price Growth -14.87%
Revenue Growth  $7,298 $9,233 $10,658 $10,992 $11,163 $11,543 $13,502 $14,944 $14,294 $15,035 $17,843 $136,502 144.50% <-Total Growth 10 Revenue Growth  144.50%
AEPS Growth $2.55 $1.43 $1.46 $1.58 $1.85 $1.80 $1.59 $1.80 $1.74 $1.17 $1.80 $18.77 -29.41% <-Total Growth 10 AEPS Growth -29.41%
Net Income Growth $482 $533 $608 $601 $731 $853 $755 $583 $626 $626 $622 $7,019 29.07% <-Total Growth 10 Net Income Growth 29.07%
Cash Flow Growth $646 $656 $770 $847 $1,074 $809 $885 $1,037 $1,078 $693 $1,025 $9,520 58.72% <-Total Growth 10 Cash Flow Growth 58.72%
Dividend Growth $0.41 $0.45 $0.51 $0.54 $0.59 $0.63 $0.66 $0.68 $0.70 $0.71 $0.72 75.61% <-Total Growth 10 Dividend Growth 75.61%
Stock Price Growth $25.79 $27.85 $34.81 $41.64 $45.89 $41.35 $45.55 $33.29 $37.79 $29.61 $35.20 36.49% <-Total Growth 10 Stock Price Growth 36.49%
Dividends on Shares $18.00 $20.20 $21.40 $23.40 $25.20 $26.20 $27.00 $27.80 $28.40 $28.80 $28.80 $28.80 $28.80 $246.40 No of Years 10 Total Dividends 12/31/12
Paid  $1,006.20 $967.80 $1,396.80 $1,324.00 $1,900.40 $1,807.20 $1,562.80 $1,608.00 $1,425.20 $1,140.00 $1,420.80 $1,151.20 $1,151.20 $1,151.20 $1,420.80 No of Years 10 Worth $25.16
Total $1,667.20 Total
Dividends on Shares $15.07 $15.53 $15.99 $16.33 $16.56 $16.56 $16.56 $16.56 $79.47 No of Years 5 Total Dividends 12/31/17
Paid  $1,039.14 $898.61 $924.60 $819.49 $655.50 $816.96 $661.94 $661.94 $661.94 $816.96 No of Years 5 Worth $45.18
Total $896.43 Total
Graham Price AEPS $16.10 $17.15 $18.34 $15.13 $17.27 $19.04 $21.56 $22.40 $22.29 $25.50 $24.74 $20.27 $26.19 $26.26 $29.22 $32.08 42.79% <-Total Growth 10 Graham Price AEPS
Price/GP Ratio Med 1.11 1.23 1.26 1.71 1.88 1.85 2.00 1.95 1.87 1.64 1.43 1.71 1.18 1.26 1.78 <-Median-> 10 Price/GP Ratio -38.38%
Price/GP Ratio High 1.36 1.40 1.41 1.88 2.16 2.19 2.25 2.12 2.04 1.80 1.67 2.07 1.42 1.39 2.06 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 0.85 1.05 1.10 1.53 1.59 1.51 1.76 1.78 1.69 1.49 1.20 1.34 0.94 1.13 1.52 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 1.36 1.23 1.41 1.84 2.02 2.19 2.13 1.85 2.04 1.31 1.53 1.46 1.34 1.10 0.99 0.90 1.84 <-Median-> 10 Price/GP Ratio
Prem/Disc Close 35.88% 23.09% 40.61% 84.02% 101.57% 118.71% 112.83% 84.64% 104.33% 30.57% 52.78% 46.07% 34.41% 9.59% -1.49% -10.27% 84.33% <-Median-> 10 Graham Price
Graham Price EPS $11.26 $10.52 $12.61 $14.70 $17.68 $18.61 $21.53 $24.65 $24.56 $22.88 $23.12 $15.22 $23.75 $26.76 $28.35 $0.00 88.35% <-Total Growth 10 Graham Price EPS
Price/GP Ratio Med 1.58 2.00 1.83 1.76 1.83 1.89 2.01 1.77 1.69 1.83 1.53 2.27 1.30 1.24 1.80 <-Median-> 10 Price/GP Ratio -40.35%
Price/GP Ratio High 1.94 2.28 2.05 1.94 2.11 2.24 2.25 1.93 1.85 2.01 1.79 2.76 1.57 1.37 1.97 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 1.22 1.72 1.61 1.57 1.56 1.55 1.76 1.62 1.53 1.66 1.28 1.78 1.04 1.11 1.57 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 1.94 2.01 2.05 1.89 1.97 2.24 2.13 1.68 1.85 1.45 1.63 1.94 1.48 1.08 1.01 #DIV/0! 1.87 <-Median-> 10 Price/GP Ratio
Prem/Disc Close 94.38% 100.60% 104.55% 89.39% 96.90% 123.73% 113.18% 67.77% 85.46% 45.47% 63.46% 94.48% 48.23% 7.53% 1.50% #DIV/0! 87.42% <-Median-> 10 Graham Price
Month, Year Dec-10 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 Jan-26 25.00 <Count Years> Month, Year
Pre-split '07
Pre-split '14 $39.58 $39.03 $50.31 $48.39
Price Close Dec $19.79 $19.52 $25.16 $24.20 $34.92 $33.10 $47.51 $45.18 $39.07 $40.20 $35.63 $28.50 $35.52 $28.78 $28.78 $28.78 41.20% <-Total Growth 10 Stock Price
Increase 28.72% -1.39% 28.90% -3.82% 44.33% -5.21% 43.53% -4.90% -13.52% 2.89% -11.37% -20.01% 24.63% -18.98% 0.00% 0.00% 20.97 <-Median-> 10 CAPE (10 Yr P/E)
P/E 18.32 20.98 20.88 17.92 22.82 21.92 25.82 20.72 20.24 27.72 23.44 43.18 24.00 15.31 13.64 #DIV/0! -4.70% <-IRR #YR-> 5 Stock Price -21.38%
Trailing P/E 21.63 18.07 27.05 20.08 25.87 21.63 31.46 24.55 17.92 20.83 24.57 18.75 53.82 19.45 15.31 13.64 3.51% <-IRR #YR-> 10 Stock Price 41.20%
CAPE (10 Yr P/E) 17.53 17.95 18.58 18.64 19.44 19.84 20.95 20.88 21.00 21.90 22.30 23.29 23.55 23.05 21.88 #DIV/0! -3.01% <-IRR #YR-> 5 Price & Dividend -13.73%
Median 10, 5 Yrs D.  per yr 2.07% 1.69% % Tot Ret 37.12% -56.06% T P/E 23.09 20.83 P/E:  23.13 24.00 5.58% <-IRR #YR-> 10 Price & Dividend 65.69%
Price 15 D.  per yr 2.21% % Tot Ret 27.05% CAPE Diff -27.01% 5.96% <-IRR #YR-> 15 Stock Price 138.15%
Price  20 D.  per yr 2.67% % Tot Ret 22.66% 9.11% <-IRR #YR-> 20 Stock Price 471.52%
Price  25 D.  per yr 2.54% % Tot Ret 20.06% 10.14% <-IRR #YR-> 25 Stock Price 1018.74%
Price  30 D.  per yr 2.06% % Tot Ret 19.53% 8.51% <-IRR #YR-> 26 Stock Price
Price & Dividend 15 8.16% <-IRR #YR-> 15 Price & Dividend 190.48%
Price & Dividend 20 11.78% <-IRR #YR-> 20 Price & Dividend 611.18%
Price & Dividend 25 12.69% <-IRR #YR-> 25 Price & Dividend 1300.31%
Price & Dividend 30 10.57% <-IRR #YR-> 26 Price & Dividend
Price  5 -$45.18 $0.00 $0.00 $0.00 $0.00 $35.52 Price  5
Price 10 -$25.16 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $35.52 Price 10
Price & Dividend 5 -$45.18 $0.66 $0.68 $0.70 $0.71 $36.24 Price & Dividend 5
Price & Dividend 10 -$25.16 $0.45 $0.51 $0.54 $0.59 $0.63 $0.66 $0.68 $0.70 $0.71 $36.24 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 $35.52 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 $35.52 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 $35.52 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 $35.52 Price  30
Price & Dividend 15 $0.31 $0.37 $0.41 $0.45 $0.51 $0.54 $0.59 $0.63 $0.66 $0.68 $0.70 $0.71 $36.24 Price & Dividend 15
Price & Dividend 20 $0.31 $0.37 $0.41 $0.45 $0.51 $0.54 $0.59 $0.63 $0.66 $0.68 $0.70 $0.71 $36.24 Price & Dividend 20
Price & Dividend 25 $0.31 $0.37 $0.41 $0.45 $0.51 $0.54 $0.59 $0.63 $0.66 $0.68 $0.70 $0.71 $36.24 Price & Dividend 25
Price & Dividend 30 $0.31 $0.37 $0.41 $0.45 $0.51 $0.54 $0.59 $0.63 $0.66 $0.68 $0.70 $0.71 $36.24 Price & Dividend 30
Month, Year Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Apr-25 Apr-26 26.00 <Count Years> Month, Year
Pre-split '07
Pre-split '14 $43.76 $42.21 $51.58 $55.69
Price Close March $21.88 $21.11 $25.79 $27.85 $34.81 $41.64 $45.89 $41.35 $45.55 $33.29 $37.79 $29.61 $35.20 $28.78 $28.78 $28.78 36.49% <-Total Growth 10 Stock Price
Increase 47.94% -3.54% 22.20% 7.97% 25.01% 19.62% 10.21% -9.89% 10.16% -26.92% 13.52% -21.65% 18.88% -18.24% 0.00% 0.00% -3.17% <-IRR #YR-> 5 Stock Price
P/E 20.26 22.69 21.40 20.63 22.75 27.58 24.94 18.97 23.60 22.96 24.86 44.86 23.78 15.31 13.64 #DIV/0! 3.16% <-IRR #YR-> 10 Stock Price 36.49%
Trailing P/E 23.91 19.54 27.73 23.11 25.79 27.22 30.39 22.47 20.89 17.25 26.06 19.48 53.33 19.45 15.31 13.64 -1.39% <-IRR #YR-> 5 Price & Dividend -14.87%
Median 10, 5 Yrs D.  per yr 2.05% 1.78% % Tot Ret 39.38% -128.66% T P/E 23.69 23.78 P/E:  0.10 0.10 5.21% <-IRR #YR-> 10 Price & Dividend
Price 15 D.  per yr 2.21% % Tot Ret 25.59% CAPE Diff -149.99% 6.42% <-IRR #YR-> 15 Stock Price
Price  20 D.  per yr 2.76% % Tot Ret 22.33% 9.60% <-IRR #YR-> 20 Stock Price
Price  25 D.  per yr 2.16% % Tot Ret 19.73% 8.79% <-IRR #YR-> 25 Stock Price
Price  30 D.  per yr 2.02% % Tot Ret 19.27% 8.47% <-IRR #YR-> 26 Stock Price
Price & Dividend 15 8.63% <-IRR #YR-> 15 Price & Dividend
Price & Dividend 20 12.36% <-IRR #YR-> 20 Price & Dividend
Price & Dividend 25 10.95% <-IRR #YR-> 25 Price & Dividend
Price & Dividend 30 10.49% <-IRR #YR-> 26 Price & Dividend
Price  5 -$41.35 $0.00 $0.00 $0.00 $0.00 $35.20 Price  5
Price 10 -$25.79 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $35.20 Price 10
Price & Dividend 5 -$41.35 $0.66 $0.68 $0.70 $0.71 $35.92 Price & Dividend 5
Price & Dividend 10 -$25.79 $0.45 $0.51 $0.54 $0.59 $0.63 $0.66 $0.68 $0.70 $0.71 $35.92 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 $35.20 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 $35.20 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 $35.20 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 $35.20 Price  30
Price & Dividend 15 $0.31 $0.37 $0.41 $0.45 $0.51 $0.54 $0.59 $0.63 $0.66 $0.68 $0.70 $0.71 $35.34 Price & Dividend 15
Price & Dividend 20 $0.31 $0.37 $0.41 $0.45 $0.51 $0.54 $0.59 $0.63 $0.66 $0.68 $0.70 $0.71 $35.34 Price & Dividend 20
Price & Dividend 25 $0.31 $0.37 $0.41 $0.45 $0.51 $0.54 $0.59 $0.63 $0.66 $0.68 $0.70 $0.71 $35.34 Price & Dividend 25
Price & Dividend 30 $0.31 $0.37 $0.41 $0.45 $0.51 $0.54 $0.59 $0.63 $0.66 $0.68 $0.70 $0.71 $35.34 Price & Dividend 30
Price H/L Med. $17.81 $21.05 $23.03 $25.83 $32.39 $35.22 $43.19 $43.71 $41.60 $41.92 $35.47 $34.58 $30.94 $33.11 34.31% <-Total Growth 10 Stock Price
Increase 37.38% 18.21% 9.43% 12.15% 25.40% 8.74% 22.61% 1.22% -4.84% 0.77% -15.39% -2.51% -10.53% 7.03% 2.99% <-IRR #YR-> 10 Stock Price 34.31%
P/E 16.49 22.63 19.11 19.13 21.17 23.32 23.47 20.05 21.55 28.91 23.33 52.39 20.90 17.61 -6.68% <-IRR #YR-> 5 Stock Price -29.23%
Trailing P/E 19.46 19.49 24.77 21.44 23.99 23.02 28.60 23.76 19.08 21.72 24.46 22.75 46.87 22.37 5.31% <-IRR #YR-> 10 Price & Dividend
P/E on Run. 5 yr Ave 22.68 24.56 23.99 23.57 26.57 26.99 29.04 25.99 23.13 23.52 19.88 22.34 21.97 23.68 -4.86% <-IRR #YR-> 5 Price & Dividend
P/E on Run. 10 yr Ave 28.55 31.03 30.42 30.70 34.48 33.70 36.85 33.09 28.75 27.93 22.96 22.78 20.02 20.72 19.13 P/E Ratio Historical Median
Median 10, 5 Yrs D.  per yr 2.31% 1.82% % Tot Ret 43.59% -37.54% T P/E 23.39 22.75 P/E:  22.44 23.33 Count 28 Years of data
-$23.03 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $30.94
-$43.71 $0.00 $0.00 $0.00 $0.00 $30.94
-$23.03 $0.45 $0.51 $0.54 $0.59 $0.63 $0.66 $0.68 $0.70 $0.71 $31.66
-$43.71 $0.66 $0.68 $0.70 $0.71 $31.66
High Months Mar 11 Jun11 Feb 13 Mar 14 Feb 15 Mar 16 Jan 17 Oct 17 Mar 19 Jun 19 Jan 20 Jun 21 Feb 23 May 23
Pre-split '07
Pre-split '14 $43.76 $48.02 $51.65 $57.03
Price High $21.88 $24.01 $25.83 $28.52 $37.25 $41.64 $48.52 $47.48 $45.55 $45.95 $41.36 $42.05 $37.17 $36.63 43.93% <-Total Growth 10 Stock Price
Increase 41.89% 9.73% 7.56% 10.42% 30.63% 11.79% 16.52% -2.14% -4.06% 0.88% -9.99% 1.67% -11.61% -1.45% 3.71% <-IRR #YR-> 10 Stock Price 43.93%
P/E 20.26 25.82 21.43 21.12 24.35 27.58 26.37 21.78 23.60 31.69 27.21 63.71 25.11 19.48 -4.78% <-IRR #YR-> 5 Stock Price -21.71%
Trailing P/E 23.91 22.23 27.77 23.66 27.59 27.22 32.13 25.80 20.89 23.81 28.52 27.66 56.32 24.75 21.76 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 27.40 27.66 P/E:  25.74 27.21 27.43 P/E Ratio Historical High
-$25.83 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $37.17
-$47.48 $0.00 $0.00 $0.00 $0.00 $37.17
Low Mths May 10 Sep 11 Sep 12 Aug 13 Apr 14 Jul 15 Jun 16 Mar 18 Nov 18 Oct 19 Mar 20 Jan 21 May 22 Jun 23
Pre-split '07
Pre-split '14 $27.46 $36.17 $40.48 $46.29
Price Low $13.73 $18.09 $20.24 $23.15 $27.53 $28.80 $37.85 $39.94 $37.64 $37.88 $29.57 $27.10 $24.70 $29.59 22.04% <-Total Growth 10 Stock Price
Increase 30.76% 31.72% 11.92% 14.35% 18.95% 4.61% 31.42% 5.52% -5.76% 0.64% -21.94% -8.35% -8.86% 19.80% 2.01% <-IRR #YR-> 10 Stock Price 22.04%
P/E 12.71 19.45 16.80 17.14 17.99 19.07 20.57 18.32 19.50 26.12 19.45 41.06 16.69 15.74 -9.16% <-IRR #YR-> 5 Stock Price -38.16%
Trailing P/E 15.01 16.75 21.76 19.21 20.39 18.82 25.07 21.71 17.27 19.63 20.39 17.83 37.42 19.99 16.97 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 20.01 19.63 P/E:  19.26 19.50 13.43 P/E Ratio Historical Low
-$20.24 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $24.70
-$39.94 $0.00 $0.00 $0.00 $0.00 $24.70
$164 <-12 mths -15.90%
Free Cash Flow WSJ $664 $837 $531 $514 $527 $699 $240 $408
Change 26.05% -36.56% -3.20% 2.53% 32.64% -65.67% 70.00%
Free Cash Flow MS $476.42 $404.40 $467.56 $432.69 $582.90 $618.0 $752.2 $465.1 $448.5 $460.6 $657 $195 $408 $729 $984 -12.74% <-Total Growth 10 Free Cash Flow
Change -15.12% 15.62% -7.46% 34.72% 6.02% 21.72% -38.17% -3.57% 2.70% 42.64% -70.32% 109.23% 78.68% 34.98% -2.59% <-IRR #YR-> 5 Free Cash Flow MS -12.28%
FCF/CF from Op Ratio 0.81 0.77 0.72 0.66 0.76 0.73 0.70 0.57 0.51 0.44 0.61 0.28 0.40 0.53 0.68 -1.35% <-IRR #YR-> 10 Free Cash Flow MS -12.74%
Dividends paid $128.9 $147.1 $161.7 $175.3 $197.7 $210.0 $228.0 $244.0 $254.6 $269.7 $204.6 $209.0 $199.0 $304 $304 23.10% <-Total Growth 10 Dividends paid
Percentage paid 27.06% 36.36% 34.57% 40.52% 33.92% 33.98% 30.31% 52.46% 56.77% 58.55% 31.14% 107.18% 48.77% 41.64% 30.85% $0.45 <-Median-> 10 Percentage paid
5 Year Coverage 35.76% 36.80% 35.28% 37.94% 40.46% 42.13% 40.96% 52.84% 56.77% 52.68% 30.82% 5 Year Coverage
Dividend Coverage Ratio 3.70 2.75 2.89 2.47 2.95 2.94 3.30 1.91 1.76 1.71 3.21 0.93 2.05 2.40 3.24 2.26 <-Median-> 10 Dividend Coverage Ratio
5 Year of Coverage 2.80 2.72 2.83 2.64 2.47 2.37 2.44 1.89 1.76 1.90 3.25 5 Year of Coverage
-$465 $0 $0 $0 $0 $408
-$468 $0 $0 $0 $0 $0 $0 $0 $0 $0 $408
Market Cap $8,920 $8,401 $10,142 $10,863 $13,653 $16,345 $17,724 $16,019 $17,774 $13,604 $15,582 $12,340 $14,840 $12,134 $12,134 $12,134 11.69% <-Total Growth 10 Market Cap
Diluted # of Shares in Million 418.05 409.94 400.64 395.35 397.26 397.77 396.03 391.17 391.25 402.45 411.39 414.83 419.23 419.23 4.64% <-Total Growth 10 Diluted
Change 0.09% -1.94% -2.27% -1.32% 0.48% 0.13% -0.44% -1.23% 0.02% 2.86% 2.22% 0.84% 1.06% 0.00% 0.45% <-IRR #YR-> 10 Diluted
Difference Diluted/Basic -1.5% -1.6% -1.4% -1.3% -1.6% -1.3% -1.3% -1.2% -0.7% -0.5% -0.4% -0.2% -0.1% -0.1% 1.40% <-IRR #YR-> 5 Diluted
Change in Diluted Shares per Year -0.93% <-Median-> 0 Difference Diluted/Basic
Basic # of Shares in Millions 411.9 403.23 395.18 390.25 391.10 392.58 390.97 386.56 388.55 400.33 409.85 414.14 418.62 418.62 5.93% <-Total Growth 10 Basic
Change -0.49% -2.12% -2.00% -1.25% 0.22% 0.38% -0.41% -1.13% 0.52% 3.03% 2.38% 1.04% 1.08% 0.00% 0.45% <-Median-> 10 Change
Difference Basic/Outstanding -1.0% -1.3% -0.5% 0.0% 0.3% 0.0% -1.2% 0.2% 0.4% 2.1% 0.6% 0.6% 0.7% 0.7% 0.36% <-Median-> 10 Difference Basic/Outstanding
# of Share in Millions 407.7 398.1 393.2 390.1 392.2 392.5 386.2 387.4 390.2 408.6 412.3 416.7 421.6 421.6 421.6 421.6 0.70% <-IRR #YR-> 10 Shares 7.21%
Change -1.57% -2.35% -1.22% -0.79% 0.53% 0.08% -1.60% 0.30% 0.72% 4.73% 0.90% 1.07% 1.17% 0.00% 0.00% 0.00% 1.71% <-IRR #YR-> 5 Shares 8.83%
Cash Flow from Operations $M $590.2 $523.0 $645.8 $656.3 $769.8 $847.4 $1,073.6 $809.1 $884.5 $1,036.9 $1,078.1 $693 $1,025 $1,382.9 $1,454.5 $1,534.6 58.72% <-Total Growth 10 Cash Flow
Increase 1.13% -11.39% 23.48% 1.63% 17.29% 10.08% 26.69% -24.64% 9.32% 17.23% 3.97% -35.72% 47.91% 34.91% 5.18% 5.51% SO, S. Issu Buy Backs
5 year Running Average $455.1 $491.0 $562.0 $599.8 $637.0 $688.5 $798.6 $831.2 $876.9 $930.3 $976.4 $900 $944 $1,043.2 $1,126.7 $1,218.0 67.89% <-Total Growth 10 CF 5 Yr Running
CFPS $1.45 $1.31 $1.64 $1.68 $1.96 $2.16 $2.78 $2.09 $2.27 $2.54 $2.61 $1.66 $2.43 $3.28 $3.45 $3.64 48.04% <-Total Growth 10 Cash Flow per Share
Increase 2.74% -9.25% 25.00% 2.44% 16.67% 10.00% 28.76% -24.86% 8.54% 11.94% 3.04% -36.40% 46.20% 34.91% 5.18% 5.51% 4.73% <-IRR #YR-> 10 Cash Flow 58.72%
5 year Running Average $1.10 $1.20 $1.39 $1.50 $1.61 $1.75 $2.05 $2.13 $2.25 $2.37 $2.46 $2.23 $2.30 $2.51 $2.69 $2.89 4.84% <-IRR #YR-> 5 Cash Flow 26.68%
P/CF on Med Price 12.30 16.02 14.03 15.35 16.50 16.31 15.54 20.93 18.35 16.52 13.56 20.79 12.72 10.09 0.00 0.00 4.00% <-IRR #YR-> 10 Cash Flow per Share 48.04%
P/CF on Closing Price 15.11 16.06 15.70 16.55 17.74 19.29 16.51 19.80 20.09 13.12 14.45 17.81 14.48 8.77 8.34 7.91 3.09% <-IRR #YR-> 5 Cash Flow per Share 16.41%
-46.53% Diff M/C 5.19% <-IRR #YR-> 10 CFPS 5 yr Running 65.87%
Excl.Working Capital CF $206.12 $307.94 $201.52 $354.54 $314.64 $345.80 $249.70 $461.90 $327.30 $385.30 $467.90 $435 $494 $0 $0 $0 1.53% <-IRR #YR-> 5 CFPS 5 yr Running 7.88%
CF fr Op $M WC $796.3 $830.9 $847.3 $1,010.8 $1,084.5 $1,193.2 $1,323.3 $1,271.0 $1,211.8 $1,422.2 $1,546.0 $1,128 $1,519 $1,383 $1,455 $1,535 79.27% <-Total Growth 10 Cash Flow less WC
Increase 52.30% 4.35% 1.97% 19.30% 7.28% 10.03% 10.90% -3.95% -4.66% 17.36% 8.70% -27.04% 34.66% -8.96% 5.18% 5.51% 6.01% <-IRR #YR-> 10 Cash Flow less WC 79.27%
5 year Running Average $482.9 $586.1 $677.4 $801.6 $914.0 $993.3 $1,091.8 $1,176.6 $1,216.8 $1,284.3 $1,354.9 $1,316 $1,365 $1,400 $1,406 $1,404 3.63% <-IRR #YR-> 5 Cash Flow less WC 19.51%
CFPS Excl. WC $1.95 $2.09 $2.15 $2.59 $2.76 $3.04 $3.43 $3.28 $3.11 $3.48 $3.75 $2.71 $3.60 $3.28 $3.45 $3.64 7.26% <-IRR #YR-> 10 CF less WC 5 Yr Run 101.57%
Increase 54.74% 6.86% 3.23% 20.25% 6.71% 9.95% 12.71% -4.24% -5.34% 12.07% 7.73% -27.81% 33.11% -8.96% 5.18% 5.51% 3.02% <-IRR #YR-> 5 CF less WC 5 Yr Run 16.05%
5 year Running Average $1.17 $1.44 $1.68 $2.01 $2.31 $2.53 $2.80 $3.02 $3.12 $3.27 $3.41 $3.26 $3.33 $3.36 $3.36 $3.34 5.28% <-IRR #YR-> 10 CFPS - Less WC 67.21%
P/CF on Med Price 9.12 10.08 10.69 9.97 11.71 11.59 12.60 13.32 13.39 12.04 9.46 12.77 8.59 10.09 0.00 0.00 1.89% <-IRR #YR-> 5 CFPS - Less WC 9.82%
P/CF on Closing Price 11.20 10.11 11.97 10.75 12.59 13.70 13.39 12.60 14.67 9.57 10.08 10.94 9.77 8.77 8.34 7.91 7.08% <-IRR #YR-> 10 CFPS 5 yr Running 98.20%
*Operational Cash Flow per share CF/-WC P/CF Med 10 yr 16.41 5 yr  16.52 P/CF Med 10 yr 11.88 5 yr  12.04 -26.14% Diff M/C 1.96% <-IRR #YR-> 5 CFPS 5 yr Running 10.21%
-$2.09 $0.00 $0.00 $0.00 $0.00 $2.43 Cash Flow per Share
-$1.39 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.30 CFPS 5 yr Running
-$2.13 $0.00 $0.00 $0.00 $0.00 $2.30 CFPS 5 yr Running
-$847.3 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $1,519.0 Cash Flow less WC
-$1,271.0 $0.0 $0.0 $0.0 $0.0 $1,519.0 Cash Flow less WC
-$677.4 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $1,365.4 CF less WC 5 Yr Run
-$1,176.6 $0.0 $0.0 $0.0 $0.0 $1,365.4 CF less WC 5 Yr Run
-$2.15 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.60 CFPS - Less WC
-$3.28 $0.00 $0.00 $0.00 $0.00 $3.60 CFPS - Less WC
-$1.68 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.33 CFPS 5 yr Running
-$3.02 $0.00 $0.00 $0.00 $0.00 $3.33 CFPS 5 yr Running
Chges Non-cash WC -$88.27 -$76.19 -$4.43 -$129.36 -$14.50 -$45.80 $2.4 -$115.2 -$99.2 -$106.7 -$233.3 -$252 -$367
Interest and other -$25.27 -$25.44 -$34.95 -$65.84 -$60.99 -$63.50 -$42.8 -$47.4 -$83.1 -$139.0 -$111.3 -$117 -$143
Income Tax Paid -$92.58 -$206.31 -$162.14 -$159.34 -$239.15 -$236.50 -$209.3 -$299.3 -$145.0 -$139.6 -$123.3 -$106 -$58
Income Tax Expense Chged in 2016 not to inclu this line.
Financial charges $70 $101
gain on disposal -$12 -$4
Foreign exchange -$21 -$20
share of join venture $3 -$3
                 
Sum -$206.12 -$307.94 -$201.52 -$354.54 -$315 -$346 -$250 -$462 -$327 -$385 -$468 -$435 -$494
Google --> TD 2017 -$354.54 -$314.59 -$345.80 -$249.70 -$462 -$312 -$360 -$452 -$436 -$493
Difference $0.00 -$0.05 $0.00 $0.00 $0 -$15 -$25 -$16 $1 -$1
OPM 9.79% 7.55% 8.85% 7.11% 7.22% 7.71% 9.62% 7.01% 6.55% 6.94% 7.54% 4.61% 5.74% 7.72% -35.08% <-Total Growth 10 OPM
Increase -2.48% -22.96% 17.27% -19.67% 1.61% 6.74% 24.75% -27.12% -6.55% 5.92% 8.70% -38.89% 24.63% 34.34% Should increase  or be stable.
Diff from Ave. 38.8% 6.9% 25.4% 0.7% 2.3% 9.2% 36.2% -0.7% -7.2% -1.7% 6.8% -34.7% -18.6% 9.3% 0.00 <-Median-> 10 OPM
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 7.06% 5 Yrs 6.55% should be  zero, it is a   check on calculations
Adjusted EBITDA $860.8 $1,020.3 $1,061.7 $1,174.1 $1,289.5 $1,264.7 $1,221.3 $1,467.8 $1,470.9 $1,550 $1,553 $1,644 $2,066 80.42% <-Total Growth 10 Adjusted EBITDA
Change 18.54% 4.06% 10.58% 9.83% -1.92% -3.43% 20.18% 0.21% 5.38% 0.19% 5.86% 25.67%
Type
Long Term Debt $379.9 $1,395.9 $1,395.1 $1,516.9 $1,208.3 $1,500.0 $1,420.9 $1,943.9 $3,542.3 $3,277.8 $3,075 $2,944 $2,944 110.90% <-Total Growth 10 Debt Lg Term R
Change 267.46% -0.06% 8.73% -20.34% 24.14% -5.27% 36.81% 82.23% -7.47% -6.19% -4.26% 0.00% -2.16% <-Median-> 10 Change Intang/GW
Debt/Market Cap Ratio 0.05 0.14 0.13 0.11 0.07 0.08 0.09 0.11 0.26 0.21 0.25 0.20 0.24 0.12 <-Median-> 10 Debt/Market Cap Ratio Liquidity
Assets/Current Liabilities Ratio 3.99 4.23 3.68 5.77 5.29 6.37 6.19 5.12 5.53 6.12 4.92 4.81 4.81 5.41 <-Median-> 10 Assets/Current Liabilities Liq. + CF
Debt to Cash Flow (Years) 0.73 2.16 2.13 1.97 1.43 1.40 1.76 2.20 3.42 3.04 4.44 2.87 2.13 2.16 <-Median-> 10 Debt to Cash Flow (Years) Debt Ratio
Leverage
Intangibles $339.04 $335 $455 $485 $506 $587.0 $662.3 $823.1 $876.2 $1,640.7 $1,516.8 $1,371 $1,371 $1,371 201.40% <-Total Growth 10 Intangibles D/E Ratio
Goodwill $843.86 $734 $1,570 $1,955 $2,125 $2,194.1 $2,240.5 $2,417.3 $2,597.6 $3,219.5 $3,066.1 $3,188 $3,188 $3,188 103.11% <-Total Growth 10 Goodwill
Total $1,182.9 $1,069.0 $2,024.5 $2,439.5 $2,631.3 $2,781.1 $2,902.8 $3,240.4 $3,473.8 $4,860.2 $4,582.9 $4,559 $4,559 $4,559 125.19% <-Total Growth 10 Total
Change 14.48% -9.63% 89.38% 20.50% 7.86% 5.69% 4.38% 11.63% 7.20% 39.91% -5.71% -0.52% 0.00% 0.00% 6.45% <-Median-> 10 Change
Intangible/Market Cap Ratio 0.13 0.13 0.20 0.22 0.19 0.17 0.16 0.20 0.20 0.36 0.29 0.37 0.31 0.38 0.21 <-Median-> 10 Intangible/Market Cap Ratio
Current Assets $1,312.1 $1,399.5 $1,512.6 $1,895.8 $1,925.5 $2,175.8 $2,380.5 $2,422.4 $3,133.8 $4,069.0 $3,947.6 $4,295 $4,851 $4,851 220.72% <-Total Growth 10 Current Assets
Current Liabilities $971.2 $902.4 $1,226.6 $1,725.1 $1,179.4 $1,356.8 $1,193.4 $1,292.8 $1,932.5 $2,493.5 $2,146.0 $2,780 $3,002 $3,002 144.73% <-Total Growth 10 Current Liabilities
Liquidity 1.35 1.55 1.23 1.10 1.63 1.60 1.99 1.87 1.62 1.63 1.84 1.54 1.62 1.62 1.63 <-Median-> 10 Ratio
Liq. with CF aft div 1.83 1.97 1.63 1.38 2.12 2.07 2.71 2.31 1.95 1.94 2.21 1.69 1.86 1.98 1.94 <-Median-> 5 Ratio
Liq. CF re  Inv+Div  1.32 1.80 0.70 0.99 1.86 1.56 2.14 1.48 1.09 0.97 1.87 1.31 1.53 1.98 1.31 <-Median-> 5 Ratio
Curr Long Term Db $152.40 $393.55 $393.55 $393.55 $393.55 $4.40 $323.40 $0.00 $300.0 $300 $307 $307
Liquidity Less CLTD 1.41 1.42 2.45 2.26 2.98 1.88 1.95 1.63 2.14 $2 $2 $2 1.80 <-Median-> 5 Ratio
Assets $3,664.3 $3,599.1 $5,193.6 $6,356.9 $6,800.3 $7,172.3 $7,596.6 $8,003.0 $9,885.6 $13,793.1 $13,122.8 $13,683 $14,425 $14,425 177.74% <-Total Growth 10 Assets
Liabilities $1,538.7 $1,493.4 $2,888.0 $3,517.7 $3,171.7 $3,102.5 $3,273.7 $3,205.3 $4,465.1 $7,234.0 $6,678.8 $7,178 $7,285 $7,285 152.25% <-Total Growth 10 Liabilities
Debt Ratio 2.38 2.41 1.80 1.81 2.14 2.31 2.32 2.50 2.21 1.91 1.96 1.91 1.98 1.98 2.06 <-Median-> 10 Ratio
Book Value $2,126 $2,106 $2,306 $2,839 $3,629 $4,070 $4,323 $4,798 $5,421 $6,559 $6,444 $6,505 $7,140 $7,140 209.67% <-Total Growth 10 Book Value
Non-Control Interest $0 $0 $0 $63 $68 $68 $0 $0 $0 $0 $0 $0 $0 $0
Net Boojk Value $2,126 $2,106 $2,306 $2,776 $3,561 $4,002 $4,323 $4,798 $5,421 $6,559 $6,444 $6,505 $7,140 $7,140 $7,140 $7,140 209.67% <-Total Growth 10 Net Book Value
Book Value per Share $5.21 $5.29 $5.86 $7.12 $9.08 $10.20 $11.19 $12.38 $13.89 $16.05 $15.63 $15.61 $16.94 $16.94 $16.94 $16.94 188.84% <-Total Growth 10 Book Value per Share
Increase 6.44% 1.45% 10.84% 21.37% 27.58% 12.31% 9.77% 10.65% 12.17% 15.55% -2.64% -0.12% 8.49% 0.00% 0.00% 0.00% -40.68% P/B Ratio Current/Historical Median
P/B Ratio (Median) 3.41 3.98 3.93 3.63 3.57 3.45 3.86 3.53 2.99 2.61 2.27 2.22 1.83 1.96 2.86 P/B Ratio Historical Median
P/B Ratio (Close) 4.20 3.99 4.40 3.91 3.83 4.08 4.10 3.34 3.28 2.07 2.42 1.90 2.08 1.70 1.70 1.70 11.19% <-IRR #YR-> 10 Book Value per Share 188.84%
Change 38.99% -4.92% 10.24% -11.04% -2.01% 6.51% 0.40% -18.56% -1.80% -36.75% 16.59% -21.55% 9.57% -18.24% 0.00% 0.00% 6.46% <-IRR #YR-> 5 Book Value per Share 36.75%
Leverage (A/BK) 1.72 1.71 2.25 2.24 1.87 1.76 1.76 1.67 1.82 2.10 2.04 2.10 2.02 2.02 1.95 <-Median-> 10 A/BV
Debt/Equity Ratio 0.72 0.71 1.25 1.24 0.87 0.76 0.76 0.67 0.82 1.10 1.04 1.10 1.02 1.02 0.95 <-Median-> 10 Debt/Eq Ratio
Median P/BV 10 yr Med 3.22 5 yr Med 2.27 -47.29% Diff M/C 1.82 Historical 27 A/BV
-$5.86 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $16.94
-$12.38 $0.00 $0.00 $0.00 $0.00 $16.94
Comprehensive Income $392.96 $390.66 $490.88 $740.71 $958.29 $669.80 $829.2 $679.4 $787.2 $657.5 $33.5 $212 $775 57.88% <-Total Growth 10 Comprehensive Income
Non-Control Interest $0.00 $0.00 $0.00 $1.35 $4.78 $0.30 $0.00 $0.00 $0.00 $0.00 $0.00 $0 $0 Non-Control Interest
Shareholders  $392.96 $390.66 $490.88 $739.36 $953.51 $669.50 $829.20 $679.40 $787.20 $657.50 $33.50 $212 $775 57.88% <-Total Growth 10 Comprehensive Income
Increase 120.21% -0.59% 25.65% 50.62% 28.97% -29.79% 23.85% -18.07% 15.87% -16.48% -94.90% 532.84% 265.57% 15.87% <-Median-> 5 Comprehensive Income
5 Yr Running Average $294.10 $325.62 $378.91 $438.46 $593.47 $648.78 $736.5 $774.2 $783.8 $724.6 $597.4 $474 $493 4.67% <-IRR #YR-> 10 Comprehensive Income 57.88%
ROE 18.5% 18.6% 21.3% 26.0% 26.3% 16.5% 19.2% 14.2% 14.5% 10.0% 0.5% 3.3% 10.9% 2.67% <-IRR #YR-> 5 Comprehensive Income 14.07%
5Yr Median 15.2% 18.5% 18.6% 18.6% 21.3% 21.3% 21.3% 19.2% 16.5% 14.5% 14.2% 10.0% 10.0% 2.67% <-IRR #YR-> 10 5 Yr Running Average 30.12%
% Difference from NI -12.9% 2.6% 1.9% 38.7% 56.9% 11.4% 13.4% -20.3% 4.2% 12.8% -94.6% -66.1% 24.6% -8.63% <-IRR #YR-> 5 5 Yr Running Average -36.32%
Median Values Diff 5, 10 yr 12.1% 4.2% 10.0% <-Median-> 5 Return on Equity
-$490.9 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $775.0
-$679.4 $0.0 $0.0 $0.0 $0.0 $775.0
-$378.9 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $493.0
-$774.2 $0.0 $0.0 $0.0 $0.0 $493.0
Current Liability Coverage Ratio 0.61 0.58 0.53 0.38 0.65 0.62 0.90 0.63 0.46 0.42 0.50 0.25 0.34 0.46   CFO / Current Liabilities
5 year Median 0.60 0.58 0.58 0.58 0.58 0.58 0.62 0.63 0.63 0.62 0.50 0.46 0.42 0.42 0.42 <-Median-> 5 Current Liability Cov Ratio
Asset Efficiency Ratio 16.11% 14.53% 12.43% 10.32% 11.32% 11.81% 14.13% 10.11% 8.95% 7.52% 8.22% 5.06% 7.11% 9.59% CFO / Total Assets
5 year Median 13.80% 14.53% 14.53% 14.53% 12.43% 11.81% 11.81% 11.32% 11.32% 10.11% 8.95% 8.22% 7.52% 7.52% 7.5% <-Median-> 5 Return on Assets 
Return on Assets ROA 12.3% 10.6% 9.3% 8.4% 8.9% 8.4% 9.6% 10.7% 7.6% 4.2% 4.8% 4.6% 4.3% 0.5% Net  Income/Assets Return on Assets
5Yr Median 10.5% 10.6% 10.6% 10.6% 9.3% 8.9% 8.9% 8.9% 8.9% 8.4% 7.6% 4.8% 4.6% 4.3% 8.0% <-Median-> 10 Asset Efficiency Ratio
Return on Equity ROE 21.2% 18.1% 20.9% 18.8% 16.7% 14.8% 16.9% 17.8% 13.9% 8.9% 9.7% 9.6% 8.7% 1.1% Net Inc/ Shareholders' equity Return on Equity
5Yr Median 17.8% 18.1% 18.9% 18.9% 18.8% 18.1% 16.9% 16.9% 16.7% 14.8% 13.9% 9.7% 9.6% 8.9% 14.4% <-Median-> 10 Return on Equity
Net Income $451.12 $380.84 $481.92 $533.97 $612.87 $601.40 $731.1 $852.5 $755.3 $582.8 $625.6 $626 $622 29.07% <-Total Growth 10 Net Income
Non-Control Interest $0.00 $0.00 $0.00 $0.87 $5.26 $0.30 $0.00 $0.00 $0.00 $0.00 $0.00 $0 $0 Non-Control Interest
Shareholders  $451.12 $380.84 $481.92 $533.10 $607.61 $601.1 $731.1 $852.5 $755.3 $582.8 $625.6 $626 $622 $77 $922 29.07% <-Total Growth 10 Net Income
Increase 17.87% -15.58% 26.54% 10.62% 13.98% -1.07% 21.63% 16.61% -11.40% -22.84% 7.34% 0.00% -0.58% -87.62% 1097.40% EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average $327.9 $356.4 $395.1 $445.9 $490.9 $520.9 $591.0 $665.1 $709.5 $704.6 $709.5 $688 $642 $506.6 $574.4 2.58% <-IRR #YR-> 10 Net Income 29.07%
Operating Cash Flow $590.19 $522.99 $645.8 $656.3 $769.8 $847.4 $1,073.6 $809.1 $884.5 $1,036.9 $1,078.1 $693 $1,025 -6.11% <-IRR #YR-> 5 Net Income -27.04%
Investment Cash Flow -$373.22 -$87.12 -$1,625.0 -$672.1 -$166.4 -$441.7 -$317.8 -$722.9 -$1,506.6 -$2,494.9 -$387.4 -$799 -$632 4.98% <-IRR #YR-> 10 5 Yr Running Ave. 62.55%
Total Accruals $234.15 -$55.03 $1,461.1 $548.9 $4.2 $195.4 -$24.7 $766.3 $1,377.4 $2,040.8 -$65.1 $732 $229 -0.70% <-IRR #YR-> 5 5 Yr Running Ave. -3.43%
Total Assets $3,664.3 $3,599.1 $5,193.6 $6,356.9 $6,800.3 $7,172.3 $7,596.6 $8,003.0 $9,885.6 $13,793.1 $13,122.8 $13,683 $14,425 Balance Sheet Assets
Accruals Ratio 6.39% -1.53% 28.13% 8.64% 0.06% 2.72% -0.33% 9.58% 13.93% 14.80% -0.50% 5.35% 1.59% 5.35% <-Median-> 5 Ratio
EPS/CF Ratio 0.55 0.45 0.56 0.52 0.55 0.50 0.54 0.66 0.62 0.42 0.41 0.24 0.41 0.51 <-Median-> 10 EPS/CF Ratio
-$482 $0 $0 $0 $0 $0 $0 $0 $0 $0 $622
-$853 $0 $0 $0 $0 $622
-$395 $0 $0 $0 $0 $0 $0 $0 $0 $0 $642
-$665 $0 $0 $0 $0 $642
Change in Close 47.94% -3.54% 22.20% 7.97% 25.01% 19.62% 10.21% -9.89% 10.16% -26.92% 13.52% -21.65% 18.88% -18.24% 0.00% 0.00% Count 27 Years of data
up/down down down down  down  down  down  down  Count 13 48.15%
Meet Prediction?   Yes       yes % right Count 17 130.77%
Financial Cash Flow -$195.70 -$368.83 $868.76 $4.93 -$572.89 -$338.60 -$679.8 -$204.1 $606.1 $1,643.8 -$704.7 -$72 -$369 C F Statement  Financial CF
Total Accruals $429.86 $313.80 $592.37 $544.00 $577.12 $534.00 $655.1 $970.4 $771.3 $397.0 $639.6 $804 $598 Accruals
Accruals Ratio 11.73% 8.72% 11.41% 8.56% 8.49% 7.45% 8.62% 12.13% 7.80% 2.88% 4.87% 5.87% 4.15% 4.87% <-Median-> 5 Ratio
Cash $92.58 $144.14 $43.18 $39.35 $72.57 $164.30 $250.5 $122.2 $112.7 $319.4 $308.7 $165 $263 $263 Cash
Cash per share $0.23 $0.36 $0.11 $0.10 $0.19 $0.42 $0.65 $0.32 $0.29 $0.78 $0.75 $0.40 $0.62 $0.62 $0.62 <-Median-> 5 Cash per Share
Percentage of Stock Price 1.04% 1.72% 0.43% 0.36% 0.53% 1.01% 1.41% 0.76% 0.63% 2.35% 1.98% 1.34% 1.77% 2.17% 1.77% <-Median-> 5 % of Stock Price
Notes:
June 24, 2023.  Last estimates were for 2023 and 2024 of $16479M, $17255M for Revenue, $1.66 and 2.15 for AEPS, $1.59 and $2.38 for EPS, 
$0.74 and $0.84 for dividends, $465M, $969M for FCF, and $624M and $467M for Net Income.
June 26, 2022.  Last estimates were for 2022, 2023 and 2024 of $14715M, $15379M and $16005M for Revenue, $1.65, $2.01 amd $2.38 for EPS, 
$0.70 and $0.76 for Dividends for 2022-23, $495 and $900 for FCF 2022-23, $2.88 for CFPS for 2022 and $586M, $639M for 2022-23 for Net Income.
June 24, 2021.  Last estimates were for 2021 and 2022 of $15079M and $15900M for Revenue, $1.39 and 1.67 for EPS, 
$0.71 and $0.74 for Dividends, $765M and $816M for FCF, $2.88 for CFPS for 2021 and $594M and $684M for Net Income.
June 23, 2020.  Last estimates were for 2020 and 2021 of $14944M, $15655M for Revenue, $1.69 and $2.03 for EPS, 
$0.69 and $0.72 for Div, $2.88 for CFPS for 2020 and $693M and $789M for Net Income.
June 26, 2019.  Last estimates were for 2019, 2020 and 2021 of $13926M, $14656M and $14975M for Revenue, $2.08, $2.37 and $2.38 for EPS, 
$2.10 and $2.88 for CFPS for 2019 and 2020 and $801M and $876M for Net Income for 2019 and 2020.
June 20, 2018.  Last estimates were for 2018, 2019 and 2020 of $11754M, $12116M and $12144M for Revenue, $2.11, $2.26 and $2.41 for EPS, 
$2.40 and $2.74 for CFPS for 2018 and 2019 and $823M and $867M for Net Income for 2018 and 2019.
June 24, 2017.  Last estimates were for 2017, 2018 anmd 2019 of $11163M, $11651M and $11534M for Revenue, $1.80, $1.99 and $2.13 for EPS, 
$2.21, $2.46 and $2.57 for CFPS and $720M and $760M for Net Income.
July 12, 2015.  Last estimates were for 2015, 2016 and 2017 of $10129M, $19360M and $10509M for Revenue, $3.25, $3.50 and $3.68 for EPS, 
$4.38, $4.40 and $4.55 for CFPS and $619.87M and $657.87M for Net Income for 2015 and 2016.
July 9, 2014.  Last estimates were for 2014 to 2016 of $8843M, $8964M and $8997M for Revenue, $3.14, $3.41 and $3.32 for EPS, $4.21 and $4.55 (2014 and 2015) for CFPS.
June 8, 2013.  Last estimates were for 2013 and 2014 of $7106M and $7372M for Revenue, $2.62 and $2.85 for EPS.
In 2013 went into debt to buy Moringstar
June 16, 2012.  Last estiamtes were for 2012 and 2013 at $6725M and $6861M for Revenue, $2.53 and $2.73 for EPS and $3.08 and $3.22 for CF.
July 2, 2011.  Last I looked I got estimates for 2011 and 2012 of $2.02 and $2.33 for EPS and $2.59 and $2.95 for CF.
Jun 8, 2010.  When I last looked at this stock, I got estimates for 2009 and 2010 of $1.55 and $1.80 for earnings and $2.09 and $2.33 for CF.
Jul 13, 2009. When I last look at this stock, I got earnings estimate of $1.40 and $1.60 for Mar 2009 and 2010 year ends.  Earnings for 2009 were $1.37; estimate for 2010 lowered to $1.55.
AP 2008 - Stock is doing well.  Accrual Ratio is rather high at 12.86%.
AP 2007 - Revenue is not increasing much, but earnings are going up.  Besides revenue increase, stock is OK.
This stock was first issued in 1997 for $17 per share.
Canadian dairy company founded in 1954 by the Saputo family. 
Sector:
Conssumer Staple; Consumer
What should this stock accomplish?
Would I buy this company and Why.
I already own this company
Why am I following this stock. 
This was a stock on Mike Higgs' Canadian Dividend Growth Stock list and on the dividend lists that I followed.  I bought this stock first in 2006 for my RRSP account.  
Because I am now taking money from my RRSP accounts, I have been selling this stock because of the low dividend.  I still like this stock so I have been buying it in my TFSA.
Dividends
Dividends are paid quarterly in Cycle 3, which is  June, September,  December, and March  Dividends are generally declared for shareholders and paid to shareholders that month.  
For example, the dividend declared for shareholders of record of September 5, 2013 was paid on September 16, 2013.  Note June dividend is often paid in July.
Why I bought this stock.
When I sold RIM in 2006 I bought some Saputo.  I had been following this stock and thought it was a strong Canadian Dividend paying stock.
In 2012, I sold some that I had in my RRSP account because I need more dividend income and dividend yield is low on this stock.
In 2013, I need to raise more money in the RRSP account because of yearly withdrawals.  I sold the stock with the lowest dividend yield.
I still want to hold this stock, but it would be a better stock in my Trading account rather than in my RRSP accounts because of the low dividends. In 2013 and 2014 I bought some of this stock for my TFSA.
How they make their money
Saputo is a global dairy processor domiciled in Canada with operations in the United States, the U.K., and other international markets.  
It sells cheese, cream, fluid milk, and other dairy products.   
This company is in the Consumer Staple Index of TSX
For all Ratios, lower is better when looking for a good stock price.  The exception is for yield and here you want a higher yield to indicate a good stock price.
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 Jun 25 2016 Jun 24 2017 Jun 20 2018 Jun 26 2019 Jun 23 2020 Jun 21 2021 Jun 26 2022 Jun 24 2023
Saputo, Lino Anthony 0.05% 0.179 0.05% 0.179 0.05% 0.179 0.05% 0.179 0.04% 0.179 0.04% 0.199 0.05% 0.199 0.05% 0.199 0.05% Chairman from 2017 0.03%
Chair & CEO - Shares - Amount $7.442 $8.203 $7.393 $8.145 $5.954 $6.760 $5.890 $7.004 $5.728
Options - percentage 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% #DIV/0!
Options - amount $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000
Therrien, Maxime 0.021 0.01% 0.021 0.01% 0.026 0.01% 0.040 0.01% 0.044 0.01% 0.046 0.01% On website as CFO 2018 4.34%
CFO - Shares - Amount $0.951 $0.705 $0.985 $1.181 $1.560 $1.331 Also in 2019
Options - percentage 0.346 0.09% 0.424 0.10% 0.539 0.13% 0.615 0.15% 0.705 0.17% 0.773 0.18% 9.63%
Options - amount $15.754 $14.127 $20.385 $18.221 $24.807 $22.235
Colizza, Carl 0.034 0.01% 0.042 0.01% 0.000 0.00% -100.00%
Officer - Shares - Amount $1.001 $1.482 $0.000
Options - percentage 0.734 0.18% 0.846 0.20% 0.000 0.00% -100.00%
Options - amount $21.731 $29.766 $0.000
Brockman, Terry 0.01% 0.053 0.01% 0.083 0.02% 0.000 0.00% 0.083 0.02% 0.104 0.03% 0.104 0.02% 0.104 0.02% 0.104 0.02% Last updated Jun 2023 0.37%
Officer - Shares - Amount $2.200 $2.436 $3.427 $0.000 $2.774 $3.912 $3.074 $3.654 $2.999
Options - percentage 0.21% 0.954 0.25% 0.887 0.23% 0.000 0.00% 0.995 0.24% 0.997 0.24% 1.022 0.25% 1.043 0.25% 0.958 0.23% -8.13%
Options - amount $34.942 $43.767 $36.689 $0.000 $33.131 $37.674 $30.255 $36.698 $27.566
Canuto, Gianfranco 0.00% 0.004 0.00% dated 2016
Subsidiary Executive $0.167 $0.193
Options - percentage 0.02% 0.108 0.03%
Options - amount $3.371 $4.955
Carrière, Louis-Philippe 0.01% 0.046 0.01% 0.046 0.01% 0.046 0.01% 0.046 0.01% 0.046 0.01% 0.046 0.01% 0.046 0.01% 0.046 0.01% Was CFO in 2017, now Dir 0.00%
Director - Shares - Amount $1.874 $2.091 $1.894 $2.097 $1.539 $1.755 $1.375 $1.635 $1.336 Still on INK as CFO 2018
Options - percentage 0.15% 0.627 0.16% 0.636 0.16% 0.612 0.16% 0.656 0.16% 0.561 0.14% 0.518 0.12% 0.526 0.12% 0.023 0.01% Also in 2019 -95.70%
Options - amount $23.823 $28.792 $26.293 $27.872 $21.844 $21.211 $15.346 $18.517 $0.651
Demone, Henry E. 0.011 0.00% 0.011 0.00% 0.011 0.00% 0.011 0.00% 0.011 0.00% 0.011 0.00% 0.012 0.00% 0.91%
Director - Shares - Amount $0.467 $0.515 $0.376 $0.427 $0.335 $0.402 $0.331
Options - percentage 0.033 0.01% 0.039 0.01% 0.046 0.01% 0.050 0.01% 0.055 0.01% 0.060 0.01% -0.067 -0.02% -210.56%
Options - amount $1.348 $1.786 $1.535 $1.902 $1.633 $2.129 -$1.924
Bourgie, Pierre 0.34% 1.336 0.35% Ceased being insider Aug '16
Director - Shares - Amount $55.624 $61.301
Options - percentage 0.01% 0.061 0.02%
Options - amount $2.265 $2.777
Monticciolo, Caterina 0.24%
Director - Shares - Amount $39.641
Options - percentage 0.01%
Options - amount $2.423
Saputo, Emanuele 68.05% 267.120 69.16% 127.060 32.80% 127.060 32.56% 127.060 31.09% 129.585 31.43% 132.770 31.86% 134.236 31.84% 135.734 32.19% Used to be Chairman 1.12%
10 % holder - Shares - Amt $11,123 $12,258 $5,253.925 $5,787.576 $4,229.822 $4,897.021 $3,931.323 $4,725.097 $3,906.422 10% holders now
Options - percentage 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% Last updte Mar 2023 #DIV/0!
Options - amount $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000
Saputo, Francesco 40.000 10.33% 40.000 10.25% 40.000 9.79% 42.500 10.31% 42.500 10.20% 42.500 10.08% 42.500 10.08% last filing Mar 2023 0.00%
10% holder $1,654.000 $1,822.000 $1,331.600 $1,606.075 $1,258.425 $1,496.000 $1,223.150
Saputo, Joey 0.08% 0.320 0.08% 0.320 0.08% 0.320 0.08% 0.320 0.08% 0.320 0.08% 0.320 0.08% 0.320 0.08% 0.320 0.08% dated 2014 0.00%
10% holder $13.325 $14.685 $13.232 $14.576 $10.653 $12.093 $9.475 $11.264 $9.210
Jolina Capital 129.585 31.43% Not found 2021
Owns 34% $4,897.021
Increase in O/S Shares 0.92% 2.996 0.76% 2.899 0.75% 1.828 0.47% 2.791 0.72% 1.797 0.44% 1.347 0.33% 1.621 0.39% 1.685 0.40%
due to SO 2014 $99.964 $104.278 $133.022 $75.587 $115.407 $59.837 $50.904 $47.990 $59.302
Book Value $54.002 $49.000 $70.300 $65.100 $72.800 $45.000 $40.500 $51.000 $55.000
Insider Buying -$2.009 -$0.099 -$1.006 -$0.263 -$1.269 -$0.986 -$2.503 -$0.352 -$0.535
Insider Selling $20.986 $12.114 $31.139 $1.574 $4.555 $3.976 $7.619 $9.029 $13.919
Net Insider Selling $18.977 $12.016 $30.134 $1.311 $3.286 $2.990 $5.116 $8.677 $13.384
% of Market Cap 0.12% 0.07% 0.19% 0.01% 0.02% 0.02% 0.04% 0.06% 0.11%
Directors 10 10 10 10 10 10 10 10
Women 36% 4 40% 5 50% 5 50% 5 50% 5 50% 5 50% 6 60% 6 60%
Minorities 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 1 10% 1 10%
Institutions/Holdings 17.44% 0 0.00% 210 18.15% 221 18.15% 213 21.42% 20 56.40% 20 12.69% 20 8.95% 20 12.44%
Total Shares Held 17.47% 0.000 0.00% 70.138 18.10% 75.477 19.34% 83.727 20.49% 220.526 53.48% 52.366 12.57% 37.309 8.85% 52.479 12.45%
Increase/Decrease 0.31% 0.000 #DIV/0! 0.889 1.28% 0.296 0.39% -0.100 -0.12% -0.720 -0.33% 0.246 0.47% -0.501 -1.33% 0.544 1.05%
Starting No. of Shares Reuters 0.000 Reuters 69.249 Reuters 75.182 Reuters 83.826 Reuters 221.246 Top 20 MS 52.120 Top 20 MS 37.811 Top 20 Funds 51.935
No Instituions data
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