This report is for educational purposes only, and not to provide investment advice.  Before making any investment decision, you should always do your own research or consult a investment professional. Estimates Estimates Estimates
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet. Q1 2024 <-Estimates https://www.annualreports.com/Company/transalta-corp
See my website on stocks or see my blog at the following sites.  https://spbrunner.com/stocks.html https://spbrunner.blogspot.com/ 3/31/24 <-Estimates
TransAlta Corp TSX: TA NSYE TAC https://www.transalta.com Fiscal Yr: Dec 31
Year 12/31/11 12/31/12 12/31/13 12/31/14 12/31/15 12/31/16 12/31/17 12/31/18 12/31/19 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 12/31/25 12/31/26 Value Description #Y Item Total G
Accounting Rules IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS Accounting Rules
Split Date Split Date
Split Split
$3,251 <-12 mths -3.10% Estimates Last 12 months from Qtr
Revenue* $2,663.0 $2,262.0 $2,292.0 $2,623.0 $2,267.0 $2,397.0 $2,307.0 $2,249 $2,347 $2,101 $2,721 $2,976 $3,355 $2,760 $2,424 46.38% <-Total Growth 10 Revenue
Increase -5.53% -15.06% 1.33% 14.44% -13.57% 5.73% -3.75% -2.51% 4.36% -10.48% 29.51% 9.37% 12.74% -17.73% -12.17% 3.88% <-IRR #YR-> 10 Revenue 46.38%
5 year Running Average $2,827.3 $2,724.8 $2,561.2 $2,531.8 $2,421.4 $2,368.2 $2,377.2 $2,369 $2,313 $2,280 $2,345 $2,478.8 $2,700.0 $2,782.6 $2,847.2 8.33% <-IRR #YR-> 5 Revenue 49.18%
Revenue per Share $11.91 $8.88 $8.55 $9.54 $7.98 $8.33 $8.01 $7.91 $8.47 $7.79 $10.04 $11.10 $10.87 $8.94 $7.85 0.53% <-IRR #YR-> 10 5 yr Running Average 5.42%
Increase -6.93% -25.43% -3.77% 11.61% -16.31% 4.30% -3.75% -1.31% 7.15% -8.09% 28.94% 10.55% -2.06% -17.73% -12.17% 2.65% <-IRR #YR-> 5 5 yr Running Average 13.99%
5 year Running Average $13.33 $12.35 $10.97 $10.33 $9.37 $8.65 $8.48 $8.35 $8.14 $8.10 $8.44 $9.06 $9.65 $9.75 $9.76 2.44% <-IRR #YR-> 10 Revenue per Share 27.22%
P/S (Price/Sales) Med 1.79 2.00 1.74 1.30 1.03 0.68 0.95 0.84 0.92 1.07 1.21 1.16 1.11 1.09 0.00 6.57% <-IRR #YR-> 5 Revenue per Share 37.48%
P/S (Price/Sales) Close 1.76 1.70 1.58 1.10 0.62 0.89 0.93 0.71 1.10 1.24 1.40 1.09 1.01 0.99 1.13 -1.27% <-IRR #YR-> 10 5 yr Running Average -11.97%
*Revenue in M CDN $  P/S Med 20 yr  1.25 15 yr  1.16 10 yr  1.05 5 yr  1.11 -5.99% Diff M/C 2.94% <-IRR #YR-> 5 5 yr Running Average 15.58%
-$2,292 $0 $0 $0 $0 $0 $0 $0 $0 $0 $3,355
-$2,249 $0 $0 $0 $0 $3,355
-$2,561 $0 $0 $0 $0 $0 $0 $0 $0 $0 $2,700
-$2,369 $0 $0 $0 $0 $2,700
-$8.55 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $10.87
-$7.91 $0.00 $0.00 $0.00 $0.00 $10.87
-$10.97 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $9.65
-$8.35 $0.00 $0.00 $0.00 $0.00 $9.65
AFFO* $1.68 -$0.25 $0.33 $0.94 $0.80 $1.04 $0.97 $1.83 $1.54 $1.30 $2.08 $3.55 $3.29 $1.82 $1.83 896.97% <-Total Growth 10 AFFO Fr TD
Increase -114.88% -232.00% 184.85% -14.89% 30.00% -6.73% 88.66% -15.85% -15.58% 60.00% 70.67% -7.32% -44.68% 0.55% 10 0 10 Years of Data, AFFP, P or N 100.00%
AFFO Yield 8.0% -1.7% 2.4% 8.9% 16.3% 14.0% 13.0% 32.7% 16.6% 13.4% 14.8% 29.3% 29.9% 20.6% 20.7% 25.85% <-IRR #YR-> 10 AFFO 896.97%
5 year Running Average $0.70 $0.57 $0.82 $1.12 $1.24 $1.34 $1.54 $2.06 $2.35 $2.41 $2.51 12.45% <-IRR #YR-> 5 AFFO 79.78%
Payout Ratio 69.05% -470.00% 356.06% 88.30% 90.00% 28.85% 16.49% 8.74% 10.39% 12.88% 8.53% 5.63% 6.69% 12.91% 13.11% 16.36% <-IRR #YR-> 8 5 yr Running Average 14.17%
5 year Running Average 144.57% 146.85% 78.06% 38.89% 24.27% 14.18% 10.69% 8.40% 7.87% 8.31% 8.53% 16.08% <-IRR #YR-> 5 5 yr Running Average 14.17%
Price/AFFO Median 12.71 -71.08 45.11 13.16 10.28 5.43 7.87 3.63 5.06 6.44 5.83 3.64 3.67 5.37 0.00 5.63 <-Median-> 10 P/AFFO Med
Price/AFFO High 13.83 -85.48 51.09 15.89 15.40 7.25 8.57 4.22 6.49 8.63 6.95 4.25 4.25 6.05 0.00 7.10 <-Median-> 10 P/AFFO High
Price/AFFO Low 11.58 -56.68 39.12 10.44 5.16 3.62 7.16 3.04 3.63 4.25 4.71 3.03 3.09 4.69 0.00 3.94 <-Median-> 10 P/AFFO Low
Price/AFFO Close 12.51 -60.48 40.85 11.19 6.14 7.14 7.68 3.05 6.03 7.44 6.75 3.41 3.35 4.86 4.84 6.45 <-Median-> 10 P/AFFO Close
Trailing P/AFFO Close 9.00 -53.92 31.88 5.22 9.29 7.16 5.76 5.07 6.28 10.81 5.82 3.10 2.69 4.86 6.05 <-Median-> 10 Trailing P/AFFO Close
* Adjusted Funds From Operations (TD) DPR 10 Yrs 11.64% 5 Yrs   8.53% P/CF 5 Yrs   in order 5.06 6.49 3.63 6.03 -3.87% Diff M/C -13.66% Diff M/C 10 DPR 75% to 95% best
-$0.33 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.29
-$1.83 $0.00 $0.00 $0.00 $0.00 $3.29
-$0.70 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.35
-$1.12 $0.00 $0.00 $0.00 $0.00 $2.35
FFO Amount $809 $788 $729 $762 $740 $736 $804 $927 $757 $685 $971 $1,346 $1,351 $812 $802 85.32% <-Total Growth 10 FFO Amount
FFO per Share Calculated $3.64 $3.35 $2.76 $2.79 $2.64 $2.56 $2.79 $3.23 $2.67 $2.49 $3.58 $4.98 $4.98 80.35% <-Total Growth 10 FFO per Share Calculated
FFO* $3.64 $3.35 $2.76 $2.79 $2.64 $2.65 $2.79 $3.23 $2.67 $2.49 $3.58 $4.98 $4.98 $2.70 $2.69 80.43% <-Total Growth 10 FFO
Increase 1.81% -7.97% -17.61% 1.09% -5.38% 0.38% 5.28% 15.77% -17.34% -6.74% 43.78% 39.11% 0.00% -45.78% -0.37% 10 0 10 Years of Data, AFFP, P or N 100.00%
FFO Yield 17.3% 22.2% 20.5% 26.5% 53.8% 35.7% 37.4% 57.8% 28.8% 25.7% 25.5% 41.1% 45.2% 30.5% 30.4% 6.08% <-IRR #YR-> 10 FFO 80.43%
5 year Running Average $3.77 $3.67 $3.39 $3.22 $3.04 $2.84 $2.73 $2.82 $2.80 $2.77 $2.95 $3.39 $3.74 $3.75 $3.79 9.04% <-IRR #YR-> 5 FFO 54.18%
Payout Ratio 31.87% 35.07% 42.57% 29.75% 27.27% 11.32% 5.73% 4.95% 5.99% 6.73% 4.96% 4.02% 4.42% 8.70% 8.92% 0.80% <-IRR #YR-> 10 5 yr Running Average 23.19%
5 year Running Average 29.48% 31.25% 34.39% 34.13% 33.33% 29.60% 23.37% 15.39% 10.73% 6.85% 5.59% 5.10% 4.95% 5.34% 5.67% 5.81% <-IRR #YR-> 5 5 yr Running Average 32.62%
Price/FFO Median 5.86 5.30 5.39 4.44 3.12 2.13 2.73 2.06 2.92 3.36 3.39 2.60 2.42 3.62 0.00 2.83 <-Median-> 10 P/FFO Med
Price/FFO High 6.38 6.38 6.11 5.35 4.67 2.85 2.98 2.39 3.74 4.51 4.04 3.03 2.81 4.08 0.00 3.39 <-Median-> 10 P/FFO High
Price/FFO Low 5.34 4.23 4.68 3.52 1.56 1.42 2.49 1.72 2.09 2.22 2.74 2.16 2.04 3.16 0.00 2.13 <-Median-> 10 P/FFO Low
Price/FFO Close 5.77 4.51 4.88 3.77 1.86 2.80 2.67 1.73 3.48 3.88 3.92 2.43 2.21 3.28 3.29 2.74 <-Median-> 10 P/FFO Close
Trailing P/FFO Close 5.97 4.88 4.44 4.48 2.95 2.14 2.88 2.38 2.41 3.13 4.87 3.61 2.42 1.96 0.00 2.91 <-Median-> 10 Trailing P/FFO Close
Median Values DPR 10 Yrs 13.06% 5 Yrs   5.59% P/CF 5 Yrs   in order 2.92 3.74 2.16 3.48 12.34% Diff M/C 15.98% Diff M/C 10 DPR 75% to 95% best
* Funds From Operations (search for)
-$2.76 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.98
-$3.23 $0.00 $0.00 $0.00 $0.00 $4.98
-$3.39 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 -$0.07 $0.00 $0.00 $3.74
-$2.82 $0.00 $0.00 $0.00 $0.00 $3.74
$1.32 <-12 mths -43.35% Estimates Last 12 months from Qtr
Difference Basic and Diluted 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 Difference Basic and Diluted
EPS Basic $1.31 -$2.61 -$0.27 $0.52 -$0.09 $0.41 -$0.66 -$0.86 $0.18 -$1.22 -$2.13 $0.01 $2.33 962.96% <-Total Growth 10 EPS Basic
EPS Diluted* $1.31 -$2.61 -$0.27 $0.52 -$0.09 $0.41 -$0.66 -$0.86 $0.18 -$1.22 -$2.13 $0.01 $2.33 $0.36 $0.18 $0.23 962.96% <-Total Growth 10 EPS Diluted
Increase 31.00% -299.24% 89.66% 292.59% -117.31% 555.56% -260.98% -30.30% 120.93% -777.78% -74.59% 100.47% 23200.00% -84.41% -50.45% 27.78% 5 5 10 Years of Data, EPS P or N 50.00%
Earnings Yield 6.2% -17.3% -2.0% 4.9% -1.8% 5.5% -8.9% -15.4% 1.9% -12.6% -15.2% 0.1% 21.1% 4.1% 2.0% 2.6% 26.66% <-IRR #YR-> 10 Earnings per Share 962.96%
5 year Running Average $1.18 $0.36 $0.07 -$0.01 -$0.23 -$0.41 -$0.02 -$0.14 -$0.20 -$0.43 -$0.94 -$0.80 -$0.17 -$0.13 $0.15 $0.62 36.33% <-IRR #YR-> 5 Earnings per Share 370.93%
10 year Running Average $1.04 $0.67 $0.52 $0.48 $0.37 $0.39 $0.17 -$0.04 -$0.11 -$0.33 -$0.67 -$0.41 -$0.15 -$0.17 -$0.14 -$0.16 #NUM! <-IRR #YR-> 10 5 yr Running Average -351.52%
* ESP per share (Cdn GAAP) E/P 10 Yrs -0.88% 5Yrs 0.08% 4.07% <-IRR #YR-> 5 5 yr Running Average -22.06%
$0.27 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.33
$0.86 $0.00 $0.00 $0.00 $0.00 $2.33
-$0.07 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 -$0.17
$0.14 $0.00 $0.00 $0.00 $0.00 -$0.17
Dividend Estimate $0.24 $0.25 $0.25 Estimates Dividend Estimate
Increase 8.59% 5.36% -0.68% Estimates Increase
Payout Ratio EPS 65.76% 139.83% 108.70% 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
Dividend* $1.16 $1.18 $1.18 $0.83 $0.72 $0.30 $0.16 $0.16 $0.16 $0.17 $0.18 $0.20 $0.22 $0.24 $0.24 $0.24 -81.28% <-Total Growth 10 Dividends
Increase 0.00% 1.29% 0.00% -29.36% -13.25% -58.33% -46.67% 0.00% 0.00% 4.69% 5.97% 12.68% 10.00% 6.82% 2.13% 0.00% 11 4 36 Years of data, Count P, N 30.56%
Average Increases 5 Year Running 3.08% 3.34% 1.74% -5.61% -8.26% -19.93% -29.52% -29.52% -23.65% -20.06% -7.20% 4.67% 6.67% 8.03% 7.52% 6.32% -14.10% <-Median-> 10 Average Incr 5 Year Running
Dividends 5 Yr Running $1.11 $1.15 $1.17 $1.10 $1.01 $0.84 $0.64 $0.43 $0.30 $0.19 $0.17 $0.17 $0.19 $0.20 $0.21 $0.23 -84.13% <-Total Growth 10 Dividends 5 Yr Running
Yield H/L Price 5.43% 6.61% 7.89% 6.71% 8.75% 5.31% 2.10% 2.41% 2.05% 2.00% 1.46% 1.55% 1.82% 2.40% 2.08% <-Median-> 10 Yield H/L Price Item
Yield on High  Price 4.99% 5.50% 6.97% 5.56% 5.84% 3.98% 1.93% 2.07% 1.60% 1.49% 1.23% 1.32% 1.57% 2.13% 1.76% <-Median-> 10 Yield on High  Price EPS
Yield on Low Price 5.96% 8.29% 9.10% 8.46% 17.43% 7.98% 2.30% 2.88% 2.86% 3.03% 1.81% 1.86% 2.17% 2.75% 2.35% <-Average 5 Yield on Low Price AFFO
Yield on Close Price 5.52% 7.77% 8.72% 7.89% 14.66% 4.04% 2.15% 2.86% 1.72% 1.73% 1.26% 1.65% 2.00% 2.66% 2.71% 2.71% 2.07% <-Median-> 10 Yield on Close Price FFO
Payout Ratio EPS 88.55% 0.00% 0.00% 159.62% 0.00% 73.17% 0.00% 0.00% 88.89% 0.00% 0.00% 2000.00% 9.44% 64.68% 133.33% 104.35% 4.72% <-Median-> 10 DPR EPS CFPS
DPR EPS 5 Yr Running 93.92% 322.19% 1766.67% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 142.37% 36.46% 0.00% <-Median-> 10 DPR EPS 5 Yr Running FCF 1
Payout Ratio CFPS 37.37% 57.55% 41.19% 28.67% 47.33% 11.61% 7.36% 7.27% 5.22% 6.44% 4.81% 6.11% 4.64% 7.81% 10.08% 10.57% 6.85% <-Median-> 10 DPR CF FCF 2
DPR CF 5 Yr Running 29.55% 34.46% 40.66% 37.74% 40.76% 35.31% 26.48% 19.08% 12.99% 7.50% 6.01% 5.83% 5.32% 5.77% 16.03% <-Median-> 10 DPR CF 5 Yr Running
Payout Ratio CFPS WC 32.06% 52.32% 45.61% 31.57% 30.34% 12.87% 6.22% 6.79% 6.09% 7.37% 5.82% 4.49% 5.07% 7.81% 10.08% 10.57% 6.51% <-Median-> 10 DPR CF WC
DPR CF WC 5 Yr Running 30.02% 33.99% 38.01% 37.61% 37.64% 34.55% 25.52% 17.70% 12.24% 7.79% 6.41% 5.86% 5.52% 5.84% 6.22% 6.90% 14.97% <-Median-> 10 DPR CF WC 5 Yr Running
Median 5 yrs 10 Yr Med 10 Yr Cl 2.08% 2.07% 5 Yr Med 5 Yr Cl 1.82% 1.72% 5 Yr Med Payout 9.44% 5.22% 5.82% 6.58% <-IRR #YR-> 5 Dividends
* Dividends per share  10 Yr Med and Cur. 30.66% 30.88% 5 Yr Med and Cur. 48.66% 57.29% Last Div Inc ---> $0.0550 $0.0600 9.09% -15.43% <-IRR #YR-> 10 Dividends
Dividends Growth 15 -10.06% <-IRR #YR-> 15 Dividends
Dividends Growth 20 -7.29% <-IRR #YR-> 20 Dividends
Dividends Growth 25 -5.84% <-IRR #YR-> 25 Dividends
Dividends Growth 30 -4.86% <-IRR #YR-> 30 Dividends
Dividends Growth 35 -4.12% <-IRR #YR-> 35 Dividends
Dividends Growth 40 -3.90% <-IRR #YR-> 36 Dividends
Dividends Growth 5 -$0.16 $0.00 $0.00 $0.00 $0.00 $0.22 Dividends Growth 5
Dividends Growth 10 -$1.18 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.22 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 $0.22 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 $0.22 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 $0.22 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 $0.22 Dividends Growth 30
Dividends Growth 35 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.22 Dividends Growth 35
Dividends Growth 40 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.22 Dividends Growth 40
Historical Dividends Historical High Div 8.53% Low Div 1.56% 10 Yr High 16.54% 10 Yr Low 1.24% Med Div 5.35% Close Div 5.48% Historical Dividends
High/Ave/Median Values Curr diff Exp. -68.21%     73.84% Exp. -83.60% 118.70% Exp. -49.31% Exp. -50.56% High/Ave/Median 
Future Dividend Yield Div Yd 3.73% earning in 5 Years at IRR of 6.58% Div Inc. 37.50% Future Dividend Yield
Future Dividend Yield Div Yd 5.13% earning in 10 Years at IRR of 6.58% Div Inc. 89.06% Future Dividend Yield
Future Dividend Yield Div Yd 7.05% earning in 15 Years at IRR of 6.58% Div Inc. 159.96% Future Dividend Yield
Future Dividend Paid Div Paid $0.33 earning in 5 Years at IRR of 6.58% Div Inc. 37.50% Future Dividend Paid
Future Dividend Paid Div Paid $0.45 earning in 10 Years at IRR of 6.58% Div Inc. 89.06% Future Dividend Paid
Future Dividend Paid Div Paid $0.62 earning in 15 Years at IRR of 6.58% Div Inc. 159.96% Future Dividend Paid
Dividend Covering Cost Total Div $1.37 over 5 Years at IRR of 6.58% Div Cov. 15.46% Dividend Covering Cost
Dividend Covering Cost Total Div $2.92 over 10 Years at IRR of 6.58% Div Cov. 33.00% Dividend Covering Cost
Dividend Covering Cost Total Div $5.05 over 15 Years at IRR of 6.58% Div Cov. 57.11% Dividend Covering Cost
I am earning GC Div Gr -73.91% 7/27/87 # yrs -> 36 1987 $14.49 Cap Gain -38.92% I am earning GC
I am earning Div org yield 6.35% 12/31/14 Trading Div G Yrly -4.78% Div start $0.92 -6.35% 1.66% I am earning Div
I am earning GC Div Gr -79.31% 2/11/09 # yrs -> 14 2009 $21.70 Cap Gain -59.22% I am earning GC
I am earning Div org yield 5.35% 12/31/14 Trading Div G Yrly -23.48% Div start $1.16 -5.35% 1.11% I am earning Div
Item
Yield if held 5 years 4.77% 4.08% 4.04% 3.83% 3.30% 1.41% 0.90% 1.07% 1.29% 2.04% 3.14% 2.62% 3.31% 3.02% 2.87% 1.98% 2.33% <-Median-> 10 Paid Median Price Revenue Growth 
Yield if held 10 years 4.71% 5.80% 6.72% 4.90% 3.25% 1.23% 0.56% 0.55% 0.74% 0.77% 0.83% 1.13% 1.48% 1.90% 2.92% 4.25% 0.98% <-Median-> 10 Paid Median Price FFO Growth
Yield if held 15 years 7.15% 6.21% 5.39% 4.44% 4.03% 1.22% 0.79% 0.91% 0.94% 0.76% 0.73% 0.69% 0.76% 1.08% 1.10% 1.12% 0.85% <-Median-> 10 Paid Median Price Net Income Growth
Yield if held 20 years 9.01% 8.87% 8.35% 5.65% 5.16% 1.85% 0.85% 0.73% 0.86% 0.94% 0.72% 0.99% 1.26% 1.39% 1.08% 0.99% 0.96% <-Median-> 10 Paid Median Price Cash Flow Growth
Yield if held 25 years 8.39% 8.25% 6.51% 5.59% 2.26% 1.14% 1.09% 1.15% 1.03% 0.94% 0.92% 1.18% 1.31% 0.97% 1.18% 1.14% <-Median-> 10 Paid Median Price Dividend Growth
Yield if held 30 years 1.12% 1.14% 1.12% 1.31% 1.38% 1.51% 1.56% 1.60% 1.72% 1.48% 1.31% <-Median-> 7 Paid Median Price Stock Price Growth
Yield if held 35 years 1.39% 1.57% 1.65% 1.88% 1.86% 1.48% <-Median-> 2 Paid Median Price
Revenue Growth 
Cost covered if held 5 years 22.88% 19.91% 20.03% 25.37% 23.22% 19.68% 17.92% 14.58% 12.12% 11.52% 14.60% 11.34% 13.92% 12.84% 12.81% 9.36% 14.59% <-Median-> 10 Paid Median Price FFO Growth
Cost covered if held 10 years 42.86% 52.96% 62.36% 63.36% 47.19% 40.16% 30.96% 27.49% 32.29% 27.56% 23.54% 22.79% 20.79% 20.20% 24.56% 34.69% 29.26% <-Median-> 10 Paid Median Price Net Income Growth
Cost covered if held 15 years 95.72% 83.09% 72.98% 84.17% 86.49% 59.90% 68.67% 74.76% 72.21% 51.47% 43.55% 33.96% 30.66% 36.90% 32.48% 28.86% 64.29% <-Median-> 10 Paid Median Price Cash Flow Growth
Cost covered if held 20 years 158.62% 155.66% 148.03% 140.71% 146.41% 121.60% 99.92% 82.94% 92.19% 91.79% 63.25% 72.94% 80.05% 78.11% 56.30% 48.22% 91.99% <-Median-> 10 Paid Median Price Dividend Growth
Cost covered if held 25 years 177.80% 183.71% 179.44% 198.43% 191.23% 179.70% 163.46% 150.92% 153.21% 126.69% 104.49% 87.18% 97.54% 97.79% 67.86% 158.33% <-Median-> 10 Paid Median Price Stock Price Growth
Cost covered if held 30 years 200.00% 199.21% 189.96% 205.86% 197.63% 186.23% 170.03% 157.73% 160.90% 133.68% 197.63% <-Median-> 7 Paid Median Price
Cost covered if held 35 years 206.03% 205.82% 196.98% 214.27% 206.44% 205.93% <-Median-> 2 Paid Median Price
Yr  Item Tot. Growth
Revenue Growth  $2,249.0 $2,347.0 $2,101.0 $2,721.0 $2,976.0 $3,355.0 $3,251 <-12 mths -3.10% 49.18% <-Total Growth 5 Revenue Growth  49.18%
AFFO Growth $1.83 $1.54 $1.30 $2.08 $3.55 $3.29 79.78% <-Total Growth 5 FFO Growth 79.78%
Net Income Growth -$228.0 $52.0 -$336.0 -$576.0 $4.0 $644.0 $571 <-12 mths -11.34% 382.46% <-Total Growth 5 Net Income Growth 382.46%
Cash Flow Growth $626.0 $849.0 $702.0 $1,001.0 $877.0 $1,464.0 133.87% <-Total Growth 5 Cash Flow Growth 133.87%
Dividend Growth $0.16 $0.16 $0.17 $0.18 $0.20 $0.22 $0.24 <-12 mths 6.82% 37.50% <-Total Growth 5 Dividend Growth 37.50%
Stock Price Growth $5.59 $9.28 $9.67 $14.05 $12.11 $11.02 $8.85 <-12 mths -19.69% 97.14% <-Total Growth 5 Stock Price Growth 97.14%
Revenue Growth  $2,292.0 $2,623.0 $2,267.0 $2,397.0 $2,307.0 $2,249.0 $2,347.0 $2,101.0 $2,721.0 $2,976.0 $3,355.0 $2,760 <-this year -17.73% 46.38% <-Total Growth 10 Revenue Growth  46.38%
AFFO Growth $0.33 $0.94 $0.80 $1.04 $0.97 $1.83 $1.54 $1.30 $2.08 $3.55 $3.29 $1.82 <-this year -44.68% 896.97% <-Total Growth 10 FFO Growth 896.97%
Net Income Growth -$71.0 $141.0 -$24.0 $117.0 -$190.0 -$228.0 $52.0 -$336.0 -$576.0 $4.0 $644.0 $85 <-this year -86.80% 1007.04% <-Total Growth 10 Net Income Growth 1007.04%
Cash Flow Growth $765.0 $796.0 $432.0 $744.0 $626.0 $626.0 $849.0 $702.0 $1,001.0 $877.0 $1,464.0 $929 <-this year -36.55% 91.37% <-Total Growth 10 Cash Flow Growth 91.37%
Dividend Growth $1.18 $0.83 $0.72 $0.30 $0.16 $0.16 $0.16 $0.17 $0.18 $0.20 $0.22 $0.24 <-this year 8.59% -81.28% <-Total Growth 10 Dividend Growth -81.28%
Stock Price Growth $13.48 $10.52 $4.91 $7.43 $7.45 $5.59 $9.28 $9.67 $14.05 $12.11 $11.02 $13.78 <-this year 25.05% -18.25% <-Total Growth 10 Stock Price Growth -18.25%
Dividends on Shares $62.25 $54.00 $22.50 $12.00 $12.00 $12.00 $12.56 $13.31 $15.00 $16.50 $17.63 $18.00 $18.00 $232.13 No of Years 10 Total Dividends 12/31/13
Paid  $1,011.00 $789.00 $368.25 $557.25 $558.75 $419.25 $696.00 $725.25 $1,053.75 $908.25 $826.50 $663.75 $663.75 $663.75 $826.50 No of Years 10 Worth $13.48
Total $1,058.63 Total
Dividends on Shares $28.64 $29.98 $31.77 $35.80 $39.38 $42.07 $42.96 $42.96 $165.58 No of Years 5 Total Dividends 12/31/18
Paid  $1,000.61 $1,661.12 $1,730.93 $2,514.95 $2,167.69 $1,972.58 $1,584.15 $1,584.15 $1,584.15 $1,972.58 No of Years 5 Worth $5.59
Total $2,138.16 Total
Graham Price FFO $31.49 $25.68 $22.18 $23.12 $22.49 $17.13 $22.80 $22.92 $20.93 $17.11 $13.79 $8.38 $14.70 $10.82 $10.80 $0.00 -35.53% <-Total Growth 10 Graham Price
Price/GP Ratio Med 0.68 0.69 0.67 0.54 0.37 0.33 0.33 0.29 0.37 0.49 0.88 1.54 0.82 0.90 0.43 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 0.74 0.83 0.76 0.65 0.55 0.44 0.36 0.34 0.48 0.66 1.05 1.80 0.95 1.02 0.60 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 0.62 0.55 0.58 0.42 0.18 0.22 0.30 0.24 0.27 0.32 0.71 1.28 0.69 0.79 0.31 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 0.67 0.59 0.61 0.45 0.22 0.43 0.33 0.24 0.44 0.57 1.02 1.45 0.75 0.82 0.82 #DIV/0! 0.45 <-Median-> 10 Price/GP Ratio
Prem/Disc Close -33.25% -41.13% -39.23% -54.50% -78.17% -56.63% -67.32% -75.61% -55.65% -43.49% 1.87% 44.52% -25.03% -18.23% -18.08% #DIV/0! -55.08% <-Median-> 10 Graham Price
Graham Price $18.89 $10.12 $9.63 $9.98 $9.98 $6.74 $8.74 $8.16 $5.43 $4.60 $3.09 $0.38 $10.05 $3.97 $2.79 $3.16 4.42% <-Total Growth 10 Graham Price
Price/GP Ratio Med 1.13 1.76 1.55 1.24 0.82 0.84 0.87 0.81 1.43 1.82 3.92 34.42 1.20 2.46 1.22 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 1.23 2.11 1.75 1.50 1.23 1.12 0.95 0.95 1.84 2.44 4.68 40.21 1.39 2.78 1.44 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 1.03 1.40 1.34 0.98 0.41 0.56 0.80 0.68 1.03 1.20 3.17 28.63 1.01 2.15 1.00 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 1.11 1.49 1.40 1.05 0.49 1.10 0.85 0.68 1.71 2.10 4.54 32.25 1.10 2.23 3.17 2.80 1.10 <-Median-> 10 Price/GP Ratio
Prem/Disc Close 11.27% 49.42% 40.01% 5.39% -50.82% 10.27% -14.76% -31.53% 70.80% 110.19% 354.30% 3125.13% 9.61% 122.93% 216.71% 180.17% 9.94% <-Median-> 10 Graham Price
Pre-split 1988
Price Close $21.02 $15.12 $13.48 $10.52 $4.91 $7.43 $7.45 $5.59 $9.28 $9.67 $14.05 $12.11 $11.02 $8.85 $8.85 $8.85 -18.25% <-Total Growth 10 Stock Price
Increase -0.61% -28.07% -10.85% -21.96% -53.33% 51.32% 0.27% -24.97% 66.01% 4.20% 45.29% -13.81% -9.00% -19.69% 0.00% 0.00% -18.74 <-Median-> 10 CAPE (10 Yr P/E)
P/E 16.05 -5.79 -49.93 20.23 -54.56 18.12 -11.29 -6.50 51.56 -7.93 -6.60 1211.00 4.73 24.36 49.17 38.48 14.54% <-IRR #YR-> 5 Stock Price 97.14%
Trailing P/E 21.02 11.54 -5.16 -38.96 9.44 -82.56 18.17 -8.47 -10.79 53.72 -11.52 -5.69 1102.00 3.80 24.36 49.17 -1.99% <-IRR #YR-> 10 Stock Price -18.25%
CAPE (10 Yr P/E) 22.00 33.99 43.11 44.77 52.57 45.04 88.08 -371.86 -108.36 -31.75 -14.49 -22.99 -60.95 -54.21 -67.52 -60.71 17.06% <-IRR #YR-> 5 Price & Dividend 116.55%
Median 10, 5 Yrs D.  per yr 2.53% 2.52% % Tot Ret 473.71% 14.77% T P/E -$7.08 -$5.69 P/E:  -$0.89 $4.73 0.53% <-IRR #YR-> 10 Price & Dividend 13.43%
Price 15 D.  per yr 3.33% % Tot Ret -183.93% CAPE Diff -230.00% -5.14% <-IRR #YR-> 15 Stock Price -54.65%
Price  20 D.  per yr 5.02% % Tot Ret 204.59% -2.56% <-IRR #YR-> 20 Stock Price -40.53%
Price  25 D.  per yr 4.77% % Tot Ret 246.21% -2.83% <-IRR #YR-> 25 Stock Price -51.24%
Price  30 D.  per yr 6.61% % Tot Ret 119.48% -1.08% <-IRR #YR-> 30 Stock Price -27.74%
Price  35 D.  per yr 7.23% % Tot Ret 109.98% -0.66% <-IRR #YR-> 35 Stock Price -20.58%
Price  40 D.  per yr 7.05% % Tot Ret 111.65% -0.74% <-IRR #YR-> 36 Stock Price
Price & Dividend 15 -1.81% <-IRR #YR-> 15 Price & Dividend -13.48%
Price & Dividend 20 2.45% <-IRR #YR-> 20 Price & Dividend 40.45%
Price & Dividend 25 1.94% <-IRR #YR-> 25 Price & Dividend 37.23%
Price & Dividend 30 5.53% <-IRR #YR-> 30 Price & Dividend 135.51%
Price & Dividend 35 6.58% <-IRR #YR-> 35 Price & Dividend 194.02%
Price & Dividend 40 6.32% <-IRR #YR-> 36 Price & Dividend
Price  5 -$5.59 $0.00 $0.00 $0.00 $0.00 $11.02 Price  5
Price 10 -$13.48 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $11.02 Price 10
Price & Dividend 5 -$5.59 $0.16 $0.17 $0.18 $0.20 $11.24 Price & Dividend 5
Price & Dividend 10 -$13.48 $0.83 $0.72 $0.30 $0.16 $0.16 $0.16 $0.17 $0.18 $0.20 $11.24 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 $11.02 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 $11.02 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 $11.02 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 $11.02 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 $11.02 Price  35
Price  40 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $11.02 Price  40
Price & Dividend 15 $1.16 $1.18 $1.18 $0.83 $0.72 $0.30 $0.16 $0.16 $0.16 $0.17 $0.18 $0.20 $11.24 Price & Dividend 15
Price & Dividend 20 $1.16 $1.18 $1.18 $0.83 $0.72 $0.30 $0.16 $0.16 $0.16 $0.17 $0.18 $0.20 $11.24 Price & Dividend 20
Price & Dividend 25 $1.16 $1.18 $1.18 $0.83 $0.72 $0.30 $0.16 $0.16 $0.16 $0.17 $0.18 $0.20 $11.24 Price & Dividend 25
Price & Dividend 30 $1.16 $1.18 $1.18 $0.83 $0.72 $0.30 $0.16 $0.16 $0.16 $0.17 $0.18 $0.20 $11.24 Price & Dividend 30
Price & Dividend 35 $1.16 $1.18 $1.18 $0.83 $0.72 $0.30 $0.16 $0.16 $0.16 $0.17 $0.18 $0.20 $11.24 Price & Dividend 35
Price & Dividend 40 $1.16 $1.18 $1.18 $0.83 $0.72 $0.30 $0.16 $0.16 $0.16 $0.17 $0.18 $0.20 $11.24 Price & Dividend 40
Price H/L Median $21.35 $17.77 $14.89 $12.38 $8.23 $5.65 $7.63 $6.65 $7.79 $8.37 $12.13 $12.93 $12.06 $9.78 -18.98% <-Total Growth 10 Stock Price
Increase -2.06% -16.75% -16.24% -16.86% -33.54% -31.31% 35.04% -12.91% 17.23% 7.45% 44.92% 6.55% -6.69% -18.95% -2.08% <-IRR #YR-> 10 Stock Price -18.98%
P/E 16.29 -6.81 -55.13 23.80 -91.39 13.78 -11.56 -7.73 43.28 -6.86 -5.69 1292.50 5.18 26.91 12.66% <-IRR #YR-> 5 Stock Price 81.49%
Trailing P/E 21.35 13.56 -5.70 -45.83 15.82 -62.78 18.61 -10.07 -9.06 46.50 -9.94 -6.07 1206.00 4.20 0.21% <-IRR #YR-> 10 Price & Dividend 9.71%
P/E on Running 5 yr Average 18.03 49.92 225.53 -1237.50 -36.07 -13.85 -423.89 -48.86 -38.19 -19.47 -12.93 -16.08 -72.65 -75.58 14.85% <-IRR #YR-> 5 Price & Dividend 97.82%
P/E on Running 10 yr Average 20.50 26.60 28.90 25.84 22.29 14.56 45.15 -189.86 -72.80 -25.44 -18.02 -31.45 -79.87 -58.65 14.23 P/E Ratio Historical Median
Median 10, 5 Yrs D.  per yr 2.29% 2.19% % Tot Ret 1112.91% 15% T P/E -7.56 -6.07 P/E:  -0.26 5.18 Count 36 Years of data
-$14.89 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $12.06
-$6.65 $0.00 $0.00 $0.00 $0.00 $12.06
-$14.89 $0.83 $0.72 $0.30 $0.16 $0.16 $0.16 $0.17 $0.18 $0.20 $12.28
-$6.65 $0.16 $0.17 $0.18 $0.20 $12.28
High Month Oct Jan Jan Feb Apr Dec Jul Aug Apr Feb Nov Jul Aug Jan
Price High $23.24 $21.37 $16.86 $14.94 $12.32 $7.54 $8.31 $7.73 $9.99 $11.22 $14.46 $15.10 $13.97 $11.02 -17.14% <-Total Growth 10 Stock Price
Increase -3.09% -8.05% -21.10% -11.39% -17.54% -38.80% 10.21% -6.98% 29.24% 12.31% 28.88% 4.43% -7.48% -21.12% -1.86% <-IRR #YR-> 10 Stock Price -17.14%
P/E 17.74 -8.19 -62.44 28.73 -136.89 18.39 -12.59 -8.99 55.50 -9.20 -6.79 1510.00 6.00 30.33 12.57% <-IRR #YR-> 5 Stock Price 80.72%
Trailing P/E 23.24 16.31 -6.46 -55.33 23.69 -83.78 20.27 -11.71 -11.62 62.33 -11.85 -7.09 1397.00 4.73 18.39 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E -9.35 -7.09 P/E:  -0.40 6.00 26.55 P/E Ratio Historical High
-$16.86 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $13.97
-$7.73 $0.00 $0.00 $0.00 $0.00 $13.97
Low Month Aug Sep Jun Dec Dec Jan Apr Dec Jan Mar Jan Oct Oct Mar
Price Low $19.45 $14.17 $12.91 $9.81 $4.13 $3.76 $6.95 $5.56 $5.59 $5.52 $9.80 $10.75 $10.15 $8.53 -21.38% <-Total Growth 10 Stock Price
Increase -0.82% -27.15% -8.89% -24.01% -57.90% -8.96% 84.84% -20.00% 0.54% -1.25% 77.54% 9.69% -5.58% -15.96% -2.38% <-IRR #YR-> 10 Stock Price -21.38%
P/E 14.85 -5.43 -47.81 18.87 -45.89 9.17 -10.53 -6.47 31.06 -4.52 -4.60 1075.00 4.36 23.48 12.79% <-IRR #YR-> 5 Stock Price 82.55%
Trailing P/E 19.45 10.82 -4.95 -36.33 7.94 -41.78 16.95 -8.42 -6.50 30.67 -8.03 -5.05 1015.00 3.66 14.85 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E -5.77 -5.05 P/E:  -0.08 4.36 -4.54 P/E Ratio Historical Low
-$12.91 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $10.15
-$5.56 $0.00 $0.00 $0.00 $0.00 $10.15
Free Cash Flow MS $207 -$222 $172 $275 -$70 $365 $237 $523 $418 $202 $512 -$72 $576 $505 $624 $781 234.88% <-Total Growth 10 Free Cash Flow
Change 621.43% -35.07% 120.68% -20.08% -51.67% 153.47% -114.06% 900.00% -12.40% 23.70% 25.12% 1.95% <-IRR #YR-> 5 Free Cash Flow MS 10.13%
FCF/CF from Op Ratio -0.16 0.49 0.38 0.84 0.49 0.29 0.51 -0.08 0.39 0.54 0.85 1.11 12.85% <-IRR #YR-> 10 Free Cash Flow MS 234.88%
Dividends paid $104 $116 $140 $124 $69 $46 $46 $45 $47 $48 $54 $58 $73 $74 $74 -50.00% <-Total Growth 10 Dividends paid
Percentage paid -177.14% 18.90% 19.41% 8.80% 10.77% 23.27% 9.38% 0.00% 10.07% 14.37% 11.87% 9.48% $0.10 <-Median-> 9 Percentage paid
5 Year Coverage 22.40% 14.50% 12.26% 15.16% 15.40% 16.23% 14.29% 13.78% 5 Year Coverage
Dividend Coverage Ratio -0.56 5.29 5.15 11.37 9.29 4.30 10.67 -1.33 9.93 6.96 8.43 10.54 5.29 <-Median-> 9 Dividend Coverage Ratio
5 Year of Coverage 4.46 6.90 8.16 6.60 6.49 6.16 7.00 7.26 5 Year of Coverage
-$523 $0 $0 $0 $0 $576
-$172 $0 $0 $0 $0 $0 $0 $0 $0 $0 $576
Free Cash Flow WSJ $44 $386 $288 $543 $432 $216 $521 -$41 $589 $505 $624 $781 1238.64% <-Total Growth 8 Free Cash Flow WSJ
Change 777.27% -25.39% 88.54% -20.44% -50.00% 141.20% -107.87% 1536.59% -14.33% 23.70% 25.12% 1.64% <-IRR #YR-> 5 Free Cash Flow MS 8.47%
FCF/CF from Op Ratio 0.10 0.52 0.46 0.87 0.51 0.31 0.52 -0.05 0.40 0.54 0.85 1.11 38.30% <-IRR #YR-> 8 Free Cash Flow MS #DIV/0!
Dividends paid $124 $69 $46 $46 $45 $47 $48 $54 $58 $73 $74 $74 #DIV/0! <-Total Growth 8 Dividends paid
Percentage paid 281.82% 17.88% 15.97% 8.47% 10.42% 21.76% 9.21% 0.00% 9.85% 14.37% 11.87% 9.48% $0.10 <-Median-> 9 Percentage paid
5 Year Coverage 281.82% 44.88% 33.29% 22.60% 19.49% 13.57% 11.60% 14.36% 14.68% 15.62% 13.95% 13.53% 5 Year Coverage
Dividend Coverage Ratio 0.35 5.59 6.26 11.80 9.60 4.60 10.85 -0.76 10.16 6.96 8.43 10.54 6.26 <-Median-> 9 Dividend Coverage Ratio
5 Year of Coverage 0.35 2.23 3.00 4.42 5.13 7.37 8.62 6.96 6.81 6.40 7.17 7.39 5 Year of Coverage
-$543 $0 $0 $0 $0 $589
-$44 $0 $0 $0 $0 $0 $0 $0 $589
Free Cash Flow Company (TA) $258 $295 $796 $239 $257 $328 $524 $435 $358 $562 $961 $890 $505 $624 $781 201.69% <-Total Growth 10 Free Cash Flow Company
Change 14.34% 169.83% -69.97% 7.53% 27.63% 59.76% -16.98% -17.70% 56.98% 71.00% -7.39% -43.30% 23.70% 25.12% 84.82% <-Total Growth 10 FCF per Share
FCF per Share $1.10 $1.12 $1.08 $0.85 $0.89 $1.14 $1.83 $1.54 $1.30 $2.07 $2.07 $2.07 $2.07 $2.07 $2.07 11.18% <-IRR #YR-> 5 Free Cash Flow MS 69.85%
FCF/CF from Op Ratio 0.50 0.39 1.00 0.55 0.35 0.52 0.84 0.51 0.51 0.56 1.10 0.61 0.54 0.85 1.11 11.68% <-IRR #YR-> 10 Free Cash Flow MS 201.69%
Dividends paid $104 $116 $140 $124 $69 $46 $46 $45 $47 $48 $54 $58 $73 $74 $74 -50.00% <-Total Growth 10 Dividends paid
Percentage paid 40.31% 39.32% 17.59% 51.88% 26.85% 14.02% 8.78% 10.34% 13.13% 8.54% 5.62% 6.52% 14.37% 11.87% 9.48% $0.12 <-Median-> 10 Percentage paid
5 Year Coverage 40.31% 39.78% 26.69% 30.48% 29.97% 25.85% 19.82% 18.51% 13.30% 10.51% 8.45% 7.86% 8.53% 8.66% 8.85% 5 Year Coverage
Dividend Coverage Ratio 2.48 2.54 5.69 1.93 3.72 7.13 11.39 9.67 7.62 11.71 17.80 15.34 6.96 8.43 10.54 8.64 <-Median-> 10 Dividend Coverage Ratio
5 Year of Coverage 2.48 2.51 3.75 3.28 3.34 3.87 5.04 5.40 7.52 9.51 11.83 12.72 11.72 11.55 11.31 5 Year of Coverage
-$524 $0 $0 $0 $0 $890
-$295 $0 $0 $0 $0 $0 $0 $0 $0 $0 $890
Market Cap $4,700 $3,851 $3,615 $2,893 $1,394 $2,139 $2,145 $1,590 $2,571 $2,609 $3,808 $3,247 $3,401 $2,731 $2,731 $2,731 -5.93% <-Total Growth 10 Market Cap
Diluted # of Shares in Million 222 235 264 273 280 288 288 287 283 275 271 271 276 276 4.55% <-Total Growth 10 Diluted
Change 1.37% 5.86% 12.34% 3.41% 2.56% 2.86% 0.00% -0.35% -1.39% -2.83% -1.45% 0.00% 1.85% 0.00% 0.00% <-Median-> 10 Change
Difference Diluted/Basic 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.00% <-Median-> 10 Difference Diluted/Basic
Basic # of Shares in Millions 222 235 264 273 280 288 288 287 283 275 271 271 276 276 4.55% <-Total Growth 10 Basic
Change 1.37% 5.86% 12.34% 3.41% 2.56% 2.86% 0.00% -0.35% -1.39% -2.83% -1.45% 0.00% 1.85% 0.00% 0.00% <-Median-> 10 Change
Difference Basic/Outstanding 0.7% 8.4% 1.6% 0.7% 1.4% 0.0% 0.0% -0.9% -2.1% -1.9% 0.0% -1.1% 11.8% 11.8% -0.03% <-Median-> 10 Difference Basic/Outstanding
# of Share in M 223.6 254.7 268.2 275.0 284.0 287.9 287.9 284.4 277.0 269.8 271.0 268.1 308.6 308.6 308.6 308.6 1.41% <-IRR #YR-> 10 Shares 15.06%
Increase 1.50% 13.91% 5.30% 2.54% 3.27% 1.37% 0.00% -1.22% -2.60% -2.60% 0.44% -1.07% 15.11% 0.00% 0.00% 0.00% 1.65% <-IRR #YR-> 5 Shares 8.51%
CF fr Op $M $694.0 $520.0 $765.0 $796.0 $432 $744 $626 $626 $849 $702 $1,001 $877 $1,464 $928.9 $734.5 $700.5 91.37% <-Total Growth 10 Cash Flow
Increase -14.43% -25.07% 47.12% 4.05% -45.73% 72.22% -15.86% 0.00% 35.62% -17.31% 42.59% -12.39% 66.93% -36.55% -20.93% -4.62% SO, DRIP Shares Issues
5 year Running Average $794.04 $728.60 $674.00 $717.20 $641 $651 $673 $645 $655 $709 $761 $811 $979 $994.58 $1,001.07 $940.98 45.19% <-Total Growth 10 CF 5 Yr Running
CFPS $3.10 $2.04 $2.85 $2.89 $1.52 $2.58 $2.17 $2.20 $3.06 $2.60 $3.69 $3.27 $4.74 $3.01 $2.38 $2.27 66.32% <-Total Growth 10 Cash Flow per Share
Increase -15.69% -34.22% 39.71% 1.48% -47.45% 69.89% -15.86% 1.23% 39.25% -15.11% 41.96% -11.44% 45.02% -36.55% -20.93% -4.62% 6.71% <-IRR #YR-> 10 Cash Flow 91.37%
5 year Running Average $3.76 $3.33 $2.87 $2.91 $2.48 $2.38 $2.41 $2.28 $2.31 $2.53 $2.75 $2.97 $3.48 $3.46 $3.42 $3.14 18.52% <-IRR #YR-> 5 Cash Flow 133.87%
P/CF on Med Price 6.88 8.70 5.22 4.28 5.41 2.19 3.51 3.02 2.54 3.22 3.28 3.95 2.54 3.25 0.00 0.00 5.22% <-IRR #YR-> 10 Cash Flow per Share 66.32%
P/CF on Closing Price 6.77 7.41 4.73 3.63 3.23 2.88 3.43 2.54 3.03 3.72 3.80 3.70 2.32 2.94 3.72 3.90 16.60% <-IRR #YR-> 5 Cash Flow per Share 115.53%
-9.54% Diff M/C 1.94% <-IRR #YR-> 10 CFPS 5 yr Running 21.17%
Excl.Working Capital CF $115.00 $52.00 -$74.00 -$73.00 $242.00 -$73.00 $114 $44 -$121 -$89 -$174 $316 -$124 $0.00 $0.00 $0.00 8.84% <-IRR #YR-> 5 CFPS 5 yr Running 52.75%
CF fr Op $M WC $809.0 $572.0 $691.0 $723.0 $674 $671 $740 $670 $728 $613 $827 $1,193 $1,340 $928.9 $734.5 $700.5 93.92% <-Total Growth 10 Cash Flow less WC
Increase 3.32% -29.30% 20.80% 4.63% -6.78% -0.45% 10.28% -9.46% 8.66% -15.80% 34.91% 44.26% 12.32% -30.68% -20.93% -4.62% 6.85% <-IRR #YR-> 10 Cash Flow less WC 93.92%
5 year Running Average $786.10 $744.20 $716.80 $715.60 $694 $666 $700 $696 $697 $684 $716 $806 $940 $980.38 $1,004.67 $979.38 14.87% <-IRR #YR-> 5 Cash Flow less WC 100.00%
CFPS Excl. WC $3.62 $2.25 $2.58 $2.63 $2.37 $2.33 $2.57 $2.36 $2.63 $2.27 $3.05 $4.45 $4.34 $3.01 $2.38 $2.27 2.75% <-IRR #YR-> 10 CF less WC 5 Yr Run 31.17%
Increase 1.80% -37.93% 14.72% 2.04% -9.73% -1.79% 10.28% -8.35% 11.56% -13.55% 34.31% 45.82% -2.42% -30.68% -20.93% -4.62% 6.21% <-IRR #YR-> 5 CF less WC 5 Yr Run 35.16%
5 year Running Average $3.70 $3.37 $3.07 $2.92 $2.69 $2.43 $2.50 $2.45 $2.45 $2.43 $2.58 $2.95 $3.35 $3.43 $3.45 $3.29 5.36% <-IRR #YR-> 10 CFPS - Less WC 68.53%
P/CF on Med Price 5.90 7.91 5.78 4.71 3.47 2.42 2.97 2.82 2.96 3.68 3.97 2.90 2.78 3.25 0.00 0.00 13.01% <-IRR #YR-> 5 CFPS - Less WC 84.32%
P/CF on Closing Price 5.81 6.73 5.23 4.00 2.07 3.19 2.90 2.37 3.53 4.26 4.60 2.72 2.54 2.94 3.72 3.90 0.88% <-IRR #YR-> 10 CFPS 5 yr Running 9.16%
*Operational Cash Flow per share  CF/-WC P/CF Med 10 yr 3.25 5 yr  3.22 P/CF Med 10 yr 2.97 5 yr  2.96 -0.88% Diff M/C 6.43% <-IRR #YR-> 5 CFPS 5 yr Running 36.58%
-$2.85 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.74 Cash Flow per Share
-$2.20 $0.00 $0.00 $0.00 $0.00 $4.74 Cash Flow per Share
-$2.87 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.48 CFPS 5 yr Running
-$2.28 $0.00 $0.00 $0.00 $0.00 $3.48 CFPS 5 yr Running
-$691.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $1,340.0 Cash Flow less WC
-$670.0 $0.0 $0.0 $0.0 $0.0 $1,340.0 Cash Flow less WC
-$716.8 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $940.2 CF less WC 5 Yr Run
-$695.6 $0.0 $0.0 $0.0 $0.0 $940.2 CF less WC 5 Yr Run
-$2.58 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.34 CFPS - Less WC
-$2.36 $0.00 $0.00 $0.00 $0.00 $4.34 CFPS - Less WC
-$3.07 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.35 CFPS 5 yr Running
-$2.45 $0.00 $0.00 $0.00 $0.00 $3.35 CFPS 5 yr Running
Account Receivalbe -$77 -$23 -$228 $58 $261 -$79 -$28 -$869 $715
Prepaid expenses -$3 $5 -$75 $19 $0 $2 $9 $0 $0
Income Taxes Receivable $1 -$4 $8 $0 -$6 -$4 $0 -$61 $27
Invesntory -$9 $11 -$7 -$21 -$13 $6 $42 $6 -$2
Accounts payable Acc liab and prov -$152 $81 $186 -$97 -$130 $160 $153 $548 -$550
Income Tax Payable -$2 $3 $2 -$3 $9 $4 -$2 $60 -$66
Chnge in non-Cash WC $74 $73                  
Sum $74 $73 -$242 $73 -$114 -$44 $121 $89 $174 -$316 $124
Morningstar $74 $73 -$242 $73 -$114 -$44 $121 $89 $174 -$316 $124
Difference $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
TD $73 -$242 $73 -$114
Difference $0 $0 $0 $0
OPM 26.06% 22.99% 33.38% 30.35% 19.06% 31.04% 27.13% 27.83% 36.17% 33.41% 36.79% 29.47% 43.64% 33.66% 30.74% <-Total Growth 10 OPM
Increase -9.41% -11.79% 45.19% -9.08% -37.21% 62.88% -12.58% 2.58% 29.96% -7.63% 10.10% -19.89% 48.08% -22.87% Should increase  or be stable.
Diff from Ave. -15.1% -25.1% 8.7% -1.1% -37.9% 1.1% -11.6% -9.3% 17.9% 8.9% 19.9% -4.0% 42.2% 9.7% 0.00 <-Median-> 10 OPM
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 30.69% 5 Yrs 36.17% should be  zero, it is a   check on calculations
$1,478 <-12 mths -9.46% Estimates Last 12 months from Qtr
Adjusted EBITDA $1,023 $1,036 $645 $1,144 $1,062 $1,161 $984 $917 $1,263 $1,634 $1,632 $1,238 $1,147 59.53% <-Total Growth 10 Adjusted EBITDA
Change 1.27% -37.74% 77.36% -7.17% 9.32% -15.25% -6.81% 37.73% 29.37% -0.12% -24.14% -7.35% 0.57% <-Median-> 10 Change
Margin 44.63% 39.50% 28.45% 47.73% 46.03% 51.62% 41.93% 43.65% 46.42% 54.91% 48.64% 44.86% 47.32% 46.23% <-Median-> 10 Margin
Long Term Debt $3,721 $3,610 $4,130 $3,305 $4,408 $3,722 $2,960 $3,119 $2,699 $3,525 $2,423 $3,475 $2,934 $2,934 -28.96% <-Total Growth 10 Debt Type
Change -2.98% 14.40% -19.98% 33.37% -15.56% -20.47% 5.37% -13.47% 30.60% -31.26% 43.42% -15.57% 0.00% -14.51% <-Median-> 10 Change Lg Term R
Debt/Market Cap Ratio 0.79 0.94 1.14 1.14 3.16 1.74 1.38 1.96 1.05 1.35 0.64 1.07 0.86 1.07 1.25 <-Median-> 10 Debt/Market Cap Ratio Intang/GW
Assets/Current Liabilities Ratio 8.19 6.82 11.48 6.78 12.83 9.04 6.41 10.80 8.51 10.42 4.78 3.72 4.97 4.97 7.64 <-Median-> 10 Assets/Current Liabilities Ratio Liquidity
Debt to Cash Flow (Years) 5.36 6.94 5.40 4.15 10.20 5.00 4.73 4.98 3.18 5.02 2.42 3.96 2.00 3.16 4.44 <-Median-> 10 Debt to Cash Flow (Years) Liq. + CF
Debt Ratio
Intangibles $447 $447 $460 $462 $465 $464 $463 $464 $318 $313 $256 $252 $223 $223 -51.52% <-Total Growth 10 Intangibles Leverage
Goodwill $276 $284 $323 $331 $369 $355 $364 $373 $464 $463 $463 $464 $464 $464 43.65% <-Total Growth 10 Goodwill D/E Ratio
Total $723 $731 $783 $793 $834 $819 $827 $837 $782 $776 $719 $716 $687 $687 -12.26% <-Total Growth 10 Total
Change 1.11% 7.11% 1.28% 5.17% -1.80% 0.98% 1.21% -6.57% -0.77% -7.35% -0.42% -4.05% 0.00% -0.59% <-Median-> 10 Change
Intangible/Market Cap Ratio 0.15 0.19 0.22 0.27 0.60 0.38 0.39 0.53 0.30 0.30 0.19 0.22 0.20 0.25 0.30 <-Median-> 10 Intangible/Market Cap Ratio
Current Assets $1,124 $938 $747 $854 $1,164 $1,554 $1,709 $1,312 $1,343 $1,902 $2,197 $3,714 $1,580 $1,580 Liquidity ratio of 1.5 and up, best
Current Liabilities $1,191 $1,385 $852 $1,451 $853 $1,217 $1,608 $873 $1,117 $935 $1,931 $2,888 $1,742 $1,742 1.24 <-Median-> 10 Ratio
Liquidity 0.94 0.68 0.88 0.59 1.36 1.28 1.06 1.50 1.20 2.03 1.14 1.29 0.91 0.91 1.20 <-Median-> 5 Ratio
Liq. with CF aft div 1.31 0.84 1.40 0.98 1.63 1.82 1.42 2.17 1.92 2.74 1.63 1.57 1.71 1.40 1.71 <-Median-> 5 Ratio
Liq. CF re  Inv+Div  0.86 0.48 0.77 0.82 0.98 1.43 1.42 1.49 1.90 1.58 1.31 1.25 1.16 1.40 1.31 <-Median-> 5 Ratio
Current port. Lg T. Db $607 $209 $751 $87 $87 $747 $148 $513 $513 $844 $178 $532 $513
Liquidity 1.21 1.16 1.22 1.52 1.38 1.98 1.81 2.22 4.51 2.02 1.37 1.31 1.29 2.02 <-Median-> 5 Ratio
Liq. with CF aft div 1.49 1.86 2.03 1.82 1.96 2.66 2.61 3.56 6.06 2.90 1.67 2.46 1.98 2.90 <-Median-> 5 Ratio
Assets $9,760 $9,451 $9,783 $9,833 $10,947 $10,996 $10,304 $9,428 $9,508 $9,747 $9,226 $10,741 $8,659 $8,659 Debt Ratio of 1.5 and up, best
Liabilities $6,133 $6,111 $6,360 $5,955 $6,557 $7,485 $5,919 $5,294 $5,446 $6,311 $6,633 $8,752 $6,995 $6,995 1.60 <-Median-> 10 Ratio
Debt Ratio 1.59 1.55 1.54 1.65 1.67 1.47 1.74 1.78 1.75 1.54 1.39 1.23 1.24 1.24 1.39 <-Median-> 5 Ratio
Estimates BVPS $2.01 $0.16 Estimates Estimates BVPS
Estimate Book Value $620.3 $49.4 Estimates Estimate Book Value
P/B Ratio (Close) 4.40 55.31 Estimates P/B Ratio (Close)
Difference from 10 year median 138.03% Diff M/C Estimates Difference from 10 yr med.
Check figures $168 $595 Shareholders Eq Check figures
Check figures $9,760 $9,451 $9,783 $9,833 $10,947 $10,996 $10,304 $9,428 $9,508 $9,747 $9,226 $10,741 $8,659 $8,659 Check figures
Total Book Value $3,627 $3,340 $3,423 $3,878 $4,390 $3,511 $4,385 $4,134 $4,062 $3,436 $2,593 $1,989 $1,664 $1,664 -51.39% <-Total Growth 10 Total Book Value
Non-controling Int $358 $330 $517 $594 $1,029 $1,152 $1,059 $1,137 $1,101 $1,084 $1,011 $879 $127 $127 -75.44% <-Total Growth 10 Non-controling Int
Net Book Value $3,269 $3,010 $2,906 $3,284 $3,361 $2,359 $3,326 $2,997 $2,961 $2,352 $1,582 $1,110 $1,537 $1,537 -47.11% <-Total Growth 10 Net Book Value
Net Book Value per Share $14.62 $11.82 $10.84 $11.94 $11.83 $8.19 $11.55 $10.54 $10.69 $8.72 $5.84 $4.14 $4.98 $4.98 -54.03% <-Total Growth 10 Net Book Value per Share
P/B Ratio (Median) 1.46 1.50 1.37 1.04 0.70 0.69 0.66 0.63 0.73 0.96 2.08 3.12 2.42 1.96 0.84 <-Median-> 10 P/B Ratio (Median)
Preferred shares $562 $781 $781 $942 $942 $942 $942 $942 $942 $942 $942 $942 $942 $942 Preferred shares
Book Value $2,707 $2,229 $2,125 $2,342 $2,419 $1,417 $2,384 $2,055 $2,019 $1,410 $640 $168 $595 $595 $595 $595 -72.00% <-Total Growth 10 Book Value
Book Value per Share $12.11 $8.75 $7.92 $8.52 $8.52 $4.92 $8.28 $7.23 $7.29 $5.23 $2.36 $0.63 $1.93 $1.93 $1.93 $1.93 -75.67% <-Total Growth 10 Book Value per Share
Change -5.56% -27.71% -9.46% 7.49% 0.01% -42.22% 68.24% -12.74% 0.87% -28.30% -54.81% -73.47% 207.69% 0.00% 0.00% 0.00% 182.54% P/B Ratio Current/Historical Median
P/B Ratio (Median) 1.76 2.03 1.88 1.45 0.97 1.15 0.92 0.92 1.07 1.60 5.14 20.63 6.25 5.07 0.00 0.00 1.62 P/B Ratio Historical Median
P/B Ratio (Close) 1.74 1.73 1.70 1.24 0.58 1.51 0.90 0.77 1.27 1.85 5.95 19.33 5.72 4.59 4.59 4.59 -13.18% <-IRR #YR-> 10 Book Value per Share -75.67%
Change 5.23% -0.49% -1.53% -27.39% -53.33% 161.88% -40.40% -14.01% 64.57% 45.33% 221.53% 224.84% -70.42% -19.69% 0.00% 0.00% -23.22% <-IRR #YR-> 5 Book Value per Share -73.32%
Leverage (A/BK) 2.69 2.83 2.86 2.54 2.49 3.13 2.35 2.28 2.34 2.84 3.56 5.40 5.20 5.20 2.69 <-Median-> 10 Leverage
Debt/Equity Ratio 1.69 1.83 1.86 1.54 1.49 2.13 1.35 1.28 1.34 1.84 2.56 4.40 4.20 4.20 1.69 <-Median-> 10 Debt/Eq Ratio
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Med 1.30 5 yr Med 5.14 252.95% Diff M/C
-$7.92 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.93
-$7.23 $0.00 $0.00 $0.00 $0.00 $1.93
Comprehensive Income $36 -$598 $82 $398 $375 $361 -$43 -$86 $131 -$355 -$610 -$263 $893 989.02% <-Total Growth 10 Comprehensive Income
NCI $18 $29 $41 $50 $103 $146 $31 $124 $77 $84 $83 $55 $76 NCI
Shareholders $18 -$627 $41 $348 $272 $215 -$74 -$210 $54 -$439 -$693 -$318 $817 1892.68% <-Total Growth 10 Comprehensive Income
Increase -92.27% -3583.33% 106.54% 748.78% -21.84% -20.96% -134.42% -183.78% 125.71% -912.96% -57.86% 54.11% 356.92% 54.11% <-Median-> 5 Comprehensive Income
5 Yr Running Average $269 $82 -$18 $3 $10 $50 $160 $110 $51 -$91 -$272 -$321 -$116 34.88% <-IRR #YR-> 10 Comprehensive Income 1892.68%
ROE 0.7% -28.1% 1.9% 14.9% 11.2% 15.2% -3.1% -10.2% 2.7% -31.1% -108.3% -189.3% 137.3% #NUM! <-IRR #YR-> 5 Comprehensive Income 489.05%
5Yr Median 8.4% 8.3% 1.9% 1.9% 1.9% 11.2% 11.2% 11.2% 2.7% -3.1% -10.2% -31.1% -31.1% 20.59% <-IRR #YR-> 10 5 Yr Running Average -550.56%
% Difference from NI -93.8% 2.1% -157.7% 146.8% -1233.3% 83.8% -61.1% -7.9% 3.8% 30.7% 20.3% -8050.0% 26.9% #NUM! <-IRR #YR-> 5 5 Yr Running Average -205.08%
Median Values Diff 5, 10 yr 12.1% 20.3% -31.1% <-Median-> 5 Return on Equity
-$41 $0 $0 $0 $0 $0 $0 $0 $0 $0 $817
$210 $0 $0 $0 $0 $817
$18 $0 $0 $0 $0 $0 $0 $0 $0 $0 -$116
-$110 $0 $0 $0 $0 -$116
Current Liability Coverage Ratio 0.68 0.41 0.81 0.50 0.79 0.55 0.46 0.77 0.65 0.66 0.43 0.41 0.77 0.53   CFO / Current Liabilities
5 year Median 0.67 0.67 0.68 0.67 0.68 0.55 0.55 0.55 0.65 0.65 0.65 0.65 0.65 0.53 60.2% <-Median-> 10 Current Liability Cov Ratio
Asset Efficiency Ratio 8.29% 6.05% 7.06% 7.35% 6.16% 6.10% 7.18% 7.11% 7.66% 6.29% 8.96% 11.11% 15.48% 10.73% CFO / Total Assets
5 year Median 8.29% 7.91% 7.47% 7.35% 7.06% 6.16% 7.06% 7.11% 7.11% 7.11% 7.18% 7.66% 8.96% 10.73% 7.3% <-Median-> 10 Return on Assets 
Return on Assets ROA 2.97% -6.50% -0.73% 1.43% -0.22% 1.06% -1.84% -2.42% 0.55% -3.45% -6.24% 0.04% 7.44% 0.98% Net  Income/Assets Return on Assets
5Yr Median 2.97% 2.20% 1.85% 1.43% -0.22% -0.22% -0.22% -0.22% -0.22% -1.84% -2.42% -2.42% 0.04% 0.04% -0.1% <-Median-> 10 Asset Efficiency Ratio
Return on Equity ROE 10.71% -27.55% -3.34% 6.02% -0.99% 8.26% -7.97% -11.09% 2.58% -23.83% -90.00% 2.38% 108.24% 14.29% Net Inc/ Shareholders' equity Return on Equity
5Yr Median 9.36% 7.72% 6.18% 6.02% -0.99% -0.99% -0.99% -0.99% -0.99% -7.97% -11.09% -11.09% 2.38% 2.38% 0.7% <-Median-> 10 Return on Equity
$571 <-12 mths -11.34% Estimates Last 12 months from Qtr
Net Income $343 -$546 -$4 $232 $116 $276 -$118 -$90 $176 -$253 -$425 $161 $796 20000.00% <-Total Growth 10 Net Income
NCI $38 $37 $29 $50 $94 $107 $42 $108 $94 $34 $112 $111 $101 248.28% <-Total Growth 10 NCI
Preferred Shareholders $15 $31 $38 $41 $46 $52 $30 $30 $30 $49 $39 $46 $51 34.21% <-Total Growth 10 Preferred Shareholders
Shareholders $290 -$614 -$71 $141 -$24 $117 -$190 -$228 $52 -$336 -$576 $4 $644 $85 $18 1007.04% <-Total Growth 10 Net Income
Increase 33.03% -311.72% 88.44% 298.59% -117.02% 587.50% -262.39% -20.00% 122.81% -746.15% -71.43% 100.69% 16000.00% -86.80% -78.82% EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average $247 $62 $1 -$7 -$56 -$90 -$5 -$37 -$55 -$117 -$256 -$217 -$42 -$36 $35 27.18% <-IRR #YR-> 10 Net Income 1007.04%
Operating Cash Flow $694 $520 $765 $796 $432 $744 $626 $626 $849 $702 $1,001 $877 $1,464 36.99% <-IRR #YR-> 5 Net Income 382.46%
Investment Cash Flow -$615 -$1,048 -$703 -$292 -$573 -$327 $87 -$394 -$14 -$687 -$472 -$741 -$814 #NUM! <-IRR #YR-> 10 5 Yr Running Ave. -5400.00%
Total Accruals $211 -$86 -$133 -$363 $117 -$300 -$903 -$460 -$783 -$351 -$1,105 -$132 -$6 2.87% <-IRR #YR-> 5 5 Yr Running Ave. -15.22%
Total Assets $9,760 $9,451 $9,783 $9,833 $10,947 $10,996 $10,304 $9,428 $9,508 $9,747 $9,226 $10,741 $8,659 Balance Sheet Assets
Accruals Ratio 2.16% -0.91% -1.36% -3.69% 1.07% -2.73% -8.76% -4.88% -8.24% -3.60% -11.98% -1.23% -0.07% -3.60% <-Median-> 5 Ratio
EPS/CF Ratio 0.36 -1.16 -0.10 0.20 -0.04 0.18 -0.26 -0.37 0.07 -0.54 -0.70 0.00 0.54 -0.02 <-Median-> 10 EPS/CF Ratio
$71 $0 $0 $0 $0 $0 $0 $0 $0 $0 $644
$228 $0 $0 $0 $0 $644
-$1 $0 $0 $0 $0 $0 $0 $0 $0 $0 -$42
$37 $0 $0 $0 $0 -$42
Change in Close -0.61% -28.07% -10.85% -21.96% -53.33% 51.32% 0.27% -24.97% 66.01% 4.20% 45.29% -13.81% -9.00% -19.69% 0.00% 0.00% Count 31 Years of data
up/down up up up Count 6 19.35%
Meet Prediction? Yes % right Count 3 50.00%
Financial Cash Flow -$67 $504 -$47 -$503 $149 -$163 -$703 -$651 -$512 $272 -$282 $45 -$1,432 C F Statement  Financial CF
Total Accruals $278 -$590 -$86 $140 -$32 -$137 -$200 $191 -$271 -$623 -$823 -$177 $1,426 Accruals
Accruals Ratio 2.85% -6.24% -0.88% 1.42% -0.29% -1.25% -1.94% 2.03% -2.85% -6.39% -8.92% -1.65% 16.47% -2.85% <-Median-> 5 Ratio
Cash $49 $27 $27 $43 $54 $305 $314 $89 $411 $703 $947 $1,134 $348 $348 Cash
Cash per Share $0.22 $0.11 $0.10 $0.16 $0.19 $1.06 $1.09 $0.31 $1.48 $2.61 $3.49 $4.23 $1.13 $1.13 $2.61 <-Median-> 5 Cash per Share
Percentage of Stock Price 1.04% 0.70% 0.75% 1.49% 3.87% 14.26% 14.64% 5.60% 15.99% 26.95% 24.87% 34.93% 10.23% 12.74% 24.87% <-Median-> 5 % of Stock Price
Notes:
March 17, 2024.  Last estimates were for 2023, 2024 and 2024 or $2517M, $2235M and $2142M for Revenue, $2.37 and $1.99 for AFFO 2023/4, $0.76, $0.20 and -$0.86 for EPS, $.22, $.23 and $.24 for dividends, 
$504M, $599M and $642M for FCF, $3.89, $2.77 and $2.61 for CFPS, $2.09, $2.01 and $0.16 for BVPS, $208M, -$45M and -$227M for Net Income.
March 18, 2023.  Last estimates were for 2022, 2023 and 2024 of $2223M, $2144M and $2038M for Revenue, $1.86 and $1.56 2022/2 for AFFO, $0.36, $0.09 and $0.38 for EPS, 
$0.20, $0.20 and $0.21 for Dividends, $321, $508 and $508 for FCF, $3.31, $2.56 for 2022/3 for CFPS, $2.50 and $2.40 for 2022/3 BVPS, $53M, $51M and $175M for Net Income.
March 19, 2022. Last estimates were for 2021, 2022 and 2023 of $2034M, $1997M and $2030M for Revenue, $1.30 and $1.54 for AFFO 2021-22, 
$0.18. $0.18 and $0.19 for Dividends, $360M, $321M and $208M for FCF, $2.51, $2.56 and $2.33 for CFPS and $3.8M, $6.8M and $72M for Net Income.
March 14, 2020.  Last estimates were for 2019, 2020 and 2021 of $2237, $2097M and $1910M for Revenue, $1.09 and 1.16 for AFFO for 2019 and 2020, 
$-$0.02, $-0.02 and $0.54 for EPS, $0.16, $0.16 and $0.16 for Div, $2.64, $2.43 and $2.45 for CFPS and -$35M, $-$87M and $145M for Net Income.
March 19, 2019.  last estimates were for 2018, 2019 and 2020 of $2265M, $2384M and $2152M for Revenue, $1.19 and $1.25 for AFFO for 2018 and 2019, 
-$0.03, $0.18 and $0.25 for EPS, $2.80, $3.16 and $2.84 for CFPS and -$13M, $29M and $72M for Net Income.
March 17, 2018.  Last estimates were for 2017, 2018 and 2019 of $2468M, $2514M and $2433M for Revenue, $1.19 and $1.29 AFFO for 2017 and 2018, $0.27, 
$0.22 and 0.28 for EPS, $3.01, $3.06 and 2.73 for CFPS and $77M, $60M and $27M for Net Income.
March 12, 2017.  Last estimates were for 2016 of $2639M for Revenue, $0.95 and $1.16 for AFFO for 2016 and 2017, $0.36 for EPS, $2.34 for CFPS and $79M for Net Income.
March 19, 2016.  Last estimates were for 2015 and 2016 of $2551M and $2639M for Revenue, $0.96 and $0.96 forAFFO, $0.29 and $0.36 for EPS, $2.31 and $2.34 for CFPS and $72M and $79M for Net Income.
March 28, 2015.  Last estimates were for 2014 and 2015 of $2407M and $2555M for Revenue, $1.20 and $1.28 for AFFO, $0.52 and $0.59 for EPS, $2.71 and $2.89 for CFPS and $151M and $143M for Net Income.
March 2, 2014.  Last estimates were for 2013 and 2014 of $2346M and $2448M for Revenue, $.90 and $1.52 for AFFO, Br.82 and $.80 for EPS, $3.27 and $3.46 for CF.
November 5, 2013.  No one seems to be admitting it, but dividends were decreased for October 2013 dividend from $.295 to $.29.  Transalta site state dividends at $.29 continuously, but I got $.295.
However, in April 2013 the declared dividend for July 2013 in press releast was for $.29, not $.295 which I got. 
March 9, 2013.  Last estimates were for 2012 and 2013 (and 2014) of $2589M and $2652M for Revenue and $1.11 and $1.17 and ($1.36) for EPS and $3.65 and $3.69 for CFPS.
Hopefully the financial results have bottomed out as some analysts feel.  Also, it is felt that the dividend is currently safe.
The information on debt can be quite confusing because they are also using hedging.  However, they do have credit facilites to handle the current portion of their long term debt.
March 30, 2012.  Last estimates I got were for 2011 and 2012 at $2681M and $2655M for Revenue, $1.12 and $1.31 for EPS and $3.36 and $3.48 for CF.
Transalta is going through some tough times. Conclusion is until the company works through its maintenance issues and power prices fully recover, we expect the dividend to provide some support for the stock.
Apr 06, 2010.  Last time I looked I got estimates for 2009 and 2010 of $.94 and $1.12 for earnings and $3.62 and $3.60 and $3.93 for cash flow.
Jan 5, 2010.  Last time I looked this estimates for 2010 and 2011 were $1.10 and $1.33.  
Apr 10, 2010, In Jun I got 2009 and 2010 earnings of $1.35 and $1.65 and cash flow of $3.93 and $4.30
Jun 10, 2009.  When I last looked at this stock in Feb 2009, I got an EPS estimate of $1.54.  The estimate has been downgraded because of the move up of the maintainance for Sundance Units 3.  However, earnings for 2010 is up.
Feb 2009 AP 2008.  I have made a reasonable return on this stock.
AP 2007. I have made a reasonable return on this stock at about 9% IRR.  Dividend finally increased in 2008.  Everyone has a hold rating on this stock. Lst 5 yrs Total Growth is 20%IRR.  Keep at present.
This stock gets a D both for value and growth on the Money Sence review.
AP 2006.  TD rates a hold (up from reduced) based on what they expect to happen in 2007 and 2008, but gain only of 2%  Yield is lower than historical low, so you would expect a lower price.
Usually provides a decent rate of return for an company that has electrical producing plants.  EPS could be better.
2006  Feb. TD recommends reduce.
2005.  IRR including all dates, return is 8.34.  Unsteady except for last couple of year, then good.  Keep for now.  Doing what a utility stock should do. Get about 3% from price increase and rest from dividends. 
2004.  What I do not like.  Paid more dividend than earnings; Liquity is not good; IRR's are not good. AP 2004 - IRR from 1987 to Apr 2005 is 7.95%
2003.  However, I might be better off replacing some of this with Pembina.  Not doing well. 
2002.  This is a utility stock.  Usual rate of return and revenue is 8%.  It is pretty stable.  2002 as a bad year.
Increase in shares seems to be mainly due to Dividend reinvestment and share purchase plan.
Sector:
Power, Utility
What should this stock accomplish?
It should provide a moderate dividend yield and moderate dividend growth over the longer term.
Would I buy this company and Why.
Currently I will continue to hold this as I think that they are working out their problems.  I maybe wrong. 
Why am I following this stock. 
I am following this stock because I own it.
Why I bought this stock.
I bought this stock in 1987.  It was a utility stock and utility stocks were considered to be good investments.  I sold some in 2000 as the stock price was below what I had paid for it.
I bought some more in February 2009 because it was relatively cheap and it seemed to be recovering.  I sold more in August 2012 as this company was doing poorly again.
By September 2019, I had finally had enough and saw no hope in this stock doing better.  I noticed that MPL Communications had given up hope in 2014.
Dividends
Cycle 1 paying in January, April, July and October.  Dividends are paid at the first of the month.  Dividends are declared by the company, usually the end of 3months prior for shareholders of record two months prior.  
That is they are declared at the end of October for policyholders at the end of November  for the following January.
How they make their money
TransAlta Corp is an independent power producer based in Alberta, Canada. The company operates a diverse and growing fleet of electrical power generation assets in Canada, the United States, 
and Australia. The company has six reportable segments namely, hydro, wind & solar, Energy Marketing, gas, and energy transition segment. The company generates the majority of its revenue from the gas segment.
Daily Buy Sell Adviser  of 27 November 2013.
In a more evenly balanced Canadian Dividend 6-Pak the weak sister remains TransAlta Corp., which we're resolved to stick with through its massive transition from a coal to natural gas-fired electricity generation. 
Under the 6-Pak discipline we’ll be needing to add more: If Mr. Buffett and Berkshire Hathaway favour TransAlta, we should like it too.
For most ratios, lower is better when looking for a good stock price.  However, there are exceptions such as for yield and asset/liability ratios and here you want a higher ratios to indicate a good stock price.  
Also, for the Operational Profit Margin, a higher percentage is better.  With the OPM, you should only compare companies in similar industries.
Shares; '%, Value $M %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Change
Date 2016 Mar 12 2017 Mar 17 2018 Mar 19 2019 Mar 14 2020 Mar 14 2021 Mar 19 2022 Mar 18 2023 Mar 18 2024
Kousinioris, John 0.179 0.07% 0.279 0.10% 0.381 0.12% 0.502 0.16% Was officer in 2021 31.74%
CEO - Shares - Amount $2.519 $3.384 $4.200 $4.444
Options - percentage 0.960 0.35% 1.184 0.44% 1.276 0.41% 1.542 0.50% 20.86%
Options - amount $13.484 $14.340 $14.060 $13.646
Farrell, Dawn Lorraine 0.05% 0.000 0.00% 0.135 0.05% 0.142 0.05% 0.447 0.17% 0.576 0.21% Ceased insider Mar 2021 #DIV/0!
CEO - Shares - Amount $0.995 $0.00 $0.76 $1.319 $4.319 $8.090
Options - percentage 0.22% 0.000 0.00% 2.081 0.73% 1.310 0.47% 2.933 1.09% 3.149 1.16% #DIV/0!
Options - amount $4.797 $0.00 $11.63 $12.152 $0.00 $44.237
Stack, Todd John 0.003 0.00% 0.027 0.01% 0.038 0.01% 0.060 0.02% 0.118 0.04% 0.170 0.06% was officer in 2019 44.70%
CFO - Shares - Amount $0.026 $0.264 $0.538 $0.725 $1.296 $1.506
Options - percentage 0.135 0.05% 0.196 0.07% 0.296 0.11% 0.355 0.13% 0.374 0.12% 0.426 0.14% 13.95%
Options - amount $1.254 $1.894 $4.156 $4.301 $4.121 $3.771
Dehout, Christophe 0.028 0.01%
CFO - Shares - Amount $0.257
Options - percentage 0.175 0.06%
Options - amount $1.626
Jeffers, Scott Thomas 0.023 0.01% 0.014 0.00% -38.49%
Officer - Shares - Amount $0.255 $0.126
Options - percentage 0.021 0.01% 0.025 0.01% 19.19%
Options - amount $0.234 $0.224
Fedoretz, Jane Nyla 0.011 0.00% 0.068 0.02% 0.097 0.03% 0.143 0.05% 46.33%
Officer - Shares - Amount $0.148 $0.949 $1.074 $1.262
Options - percentage 0.359 0.13% 0.370 0.14% 0.333 0.11% 0.407 0.13% 22.21%
Options - amount $5.051 $4.477 $3.669 $3.601
Gellner, Brett 0.02% 0.000 0.00% 0.066 0.02% 0.066 0.02% 0.167 0.06% 0.116 0.04% 0.116 0.04% Used to be CFO #DIV/0!
Officer - Shares - Amount $0.436 $0.00 $0.369 $0.613 $1.618 $1.635 $1.409 Last updated Jan 2022
Options - percentage 0.12% 0.000 0.00% 0.686 0.24% 0.871 0.31% 0.954 0.35% 1.012 0.37% 0.428 6.89% Ceased insider Oct 2023 #DIV/0!
Options - amount $2.619 $0.00 $3.837 $8.084 $9.221 $14.215 $5.181
Ambrose, Ronalee Hope 0.002 0.00% 0.008 0.00% 0.009 0.00% 0.009 0.00% 0.009 0.00% 0.008 0.10% 0.009 0.00% 12.66%
Director - Shares - Amount $0.010 $0.073 $0.086 $0.125 $0.108 $0.087 $0.079
Options - percentage 0.003 0.00% 0.017 0.01% 0.024 0.01% 0.045 0.02% 0.054 0.02% 0.068 0.02% 0.081 0.03% 19.89%
Options - amount $0.015 $0.155 $0.231 $0.626 $0.651 $0.748 $0.720
Fohrer, Alan John 0.006 0.00% 0.006 0.00% 0.00%
Director - Shares - Amount $0.071 $0.057
Options - percentage 0.132 0.04% 0.141 0.05% 6.51%
Options - amount $1.459 $1.248
Dielwart, John Patrick 0.000 0.00% 0.017 0.01% 0.031 0.01% 0.043 0.01% 0.050 0.02% 16.71%
Chairman - Shares - Amt $0.000 $0.242 $0.372 $0.472 $0.442
Options - percentage 0.121 0.04% 0.123 0.05% 0.128 0.05% 0.134 0.04% 0.147 0.05% 9.61%
Options - amount $1.167 $1.731 $1.554 $1.477 $1.300
Giffin, Gordon D 0.02% 0.000 0.00% 0.125 0.04% 0.162 0.06% 0.181 0.07%
Chairman - Shares - Amt $0.399 $0.00 $0.698 $1.50 $1.749
Options - percentage 0.01% 0.000 0.00% 0.023 0.01% 0.024 0.01% 0.024 0.01%
Options - amount $0.160 $0.00 $0.130 $0.22 $0.236
Increase in O/S Shares 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.100 0.04% 0.100 0.04% 1.200 0.44% 0.500 0.19% 1.500 0.49%
due to SO $0.000 $0.000 $0.000 $0.000 $0.928 $0.967 $16.860 $6.055 $16.530
Book Value $2.000 $1.000 $1.000 $1.000 $2.000 $3.000 $8.000 $3.000 $11.000
Insider Buying -$0.197 -$0.197 -$0.299 -$0.512 -$6.378 -$3.336 -$0.342 $0.000 -$0.094
Insider Selling $6.125 $6.125 $1.869 $0.000 $0.049 $2.243 $4.831 $6.914 $1.872
Net Insider Selling $5.928 $5.928 $1.569 -$0.512 -$6.329 -$1.092 $4.489 $6.914 $1.778
% of Market Cap 0.28% 0.28% 0.10% -0.02% -0.24% -0.03% 0.14% 0.20% 0.07%
Directors 9 10 10 12 11 12 12 12
Women 30% 3 33% 3 30% 3 30% 4 33% 5 45% 5 42% 5 42% 6 50%
Minorities 0% 1 11% 1 10% 1 10% 1 8% 1 9% 0 0% 1 8% 1 8%
Institutions/Holdings 20 18.71% 20 74.80%
Total Shares Held 50.175 16.26% 229.768 74.45%
Increase/Decrease -0.309 -0.61% 15.600 7.28%
Starting No. of Shares 50.484 MS 20 214.168 MS 20
Institutions/Holdings 6.14% 88 53.09% 88 47.80% 88 83.79% 107 60.98% 120 64.56% 154 58.96%
Total Shares Held 0.14% 152.854 53.75% 136.061 49.12% 226.429 83.55% 165.402 61.69% 173.222 56.13% 180.983 58.65%
Increase/Decrease -0.67% 6.474 4.42% -14.138 -9.41% 3.019 1.35% 2.320 1.42% -1.565 -0.90% 5.409 3.08%
Starting No. of Shares 146.380 Nasdaq 150.199 Nasdaq 223.409 Nasdaq 163.082 Nasdaq 174.787 Nasdaq 175.574 Nasdaq
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