This report should not be construed as providing investment advice. It is for educational purposes only.  Before making any investment decision, you should alway s do your own research or consult a investment professional. <--CDN$ US$--> Estimates Estimates Estimates
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet. Q2 2024
See my website on stocks or see my blog at the following sites.  https://spbrunner.com/stocks.html https://spbrunner.blogspot.com/ Jun 24
Badger Infrastructure Solutions Ltd TSX: BDGI OTC: BADFF https://www.badgerinc.com/ Fiscal Yr: Dec 31
Year 12/31/11 12/31/12 12/31/13 12/31/14 12/31/15 12/31/16 12/31/17 12/31/18 12/31/19 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 12/31/25 12/31/26 Value Description #Y Item Total G Currency
Accounting Rules IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS Accounting Rules
Currency <--CDN$ US$-->
USD - CDN$ 1.0170 0.9949 1.0636 1.1601 1.3847 1.3427 1.2545 1.3642 1.2988 1.2732 1.2678 1.3544 1.3226 1.3858 1.3858 1.3858 -1.14% <-IRR #YR-> 4 USD - CDN$
Change 2.25% -2.17% 6.91% 9.07% 19.36% -3.04% -6.57% 8.74% -4.79% -1.97% -0.42% 6.83% -2.35% 4.78% 0.00% 0.00% 2.23% <-IRR #YR-> 9 USD - CDN$
Cost of Sales $273.2 $244.0 $205.3 $262.6 $338.1 $332.3 $303.6 $353.2 $431.7 $492.7 101.90% <-Total Growth 9 Cost of Sales US$
Change -10.67% -15.87% 27.92% 28.74% -1.73% -8.63% 16.36% 22.20% 14.14% 14.14% <-Median-> 9 Change US$
Ratio 0.75 0.84 0.68 0.66 0.75 0.66 0.69 0.79 0.76 0.72 0.74 <-Median-> 10 Ratio US$
$717 <-12 mths 4.87%
Revenue* US$ $190.9 $240.5 $305.2 $364.0 $292.2 $301.0 $398.0 $451.1 $503.8 $438.8 $448.6 $570.8 $683.8 $746.1 $832.0 $854.4 124.06% <-Total Growth 10 Revenue
Increase 36.02% 25.94% 26.92% 19.26% -19.71% 3.02% 32.20% 13.36% 11.66% -12.90% 2.25% 27.24% 19.79% 9.12% 11.51% 2.69% 8.40% <-IRR #YR-> 10 Revenue 124.06% US$
5 year Running Average $140.1 $164.4 $201.2 $248.2 $278.5 $300.6 $332 $361 $389 $419 $448 $483 $529 $577.6 $656.3 $737.4 8.67% <-IRR #YR-> 5 Revenue 51.57% US$
Revenue per Share $5.89 $6.50 $8.24 $9.83 $7.88 $8.11 $10.73 $12.36 $14.42 $12.59 $13.01 $16.56 $19.84 $21.64 $24.13 $24.78 10.15% <-IRR #YR-> 10 5 yr Running Average 163.02% US$
Increase 36.02% 10.48% 26.73% 19.26% -19.86% 3.02% 32.20% 15.19% 16.75% -12.73% 3.37% 27.24% 19.79% 9.12% 11.51% 2.69% 7.93% <-IRR #YR-> 5 5 yr Running Average 46.47% US$
5 year Running Average $4.32 $4.89 $5.79 $6.96 $7.67 $8.11 $8.96 $9.78 $10.70 $11.64 $12.62 $13.79 $15.28 $16.73 $19.04 $21.39 9.18% <-IRR #YR-> 10 Revenue per Share 140.70% US$
P/S (Price/Sales) Med 1.08 1.31 2.29 3.21 2.48 2.45 2.01 1.73 2.14 1.77 2.27 1.32 1.27 1.32 0.00 0.00 9.93% <-IRR #YR-> 5 Revenue per Share 60.54% US$
P/S (Price/Sales) Close 1.19 1.49 3.23 2.46 2.23 2.99 2.02 1.88 1.92 2.33 1.90 1.18 1.51 1.21 1.08 1.05 10.20% <-IRR #YR-> 10 5 yr Running Average 164.13% US$
*Sales in M US $  P/S Med 20 yr  1.83 15 yr  1.77 10 yr  2.08 5 yr  1.77 -41.86% Diff M/C 9.34% <-IRR #YR-> 5 5 yr Running Average 56.28% US$
-$305.2 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $683.8
-$451.1 $0.0 $0.0 $0.0 $0.0 $683.8
-$201.2 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $529.1
-$361.3 $0.0 $0.0 $0.0 $0.0 $529.1
-$8.24 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $19.84
-$12.36 $0.00 $0.00 $0.00 $0.00 $19.84
Cost of Sales 290.547 283.105 284.297 $352.6 $424.2 $453.3 $394.3 $449.7 $584.6 $667.3 135.72% <-Total Growth 9 Cost of Sales CDN$
Change -2.56% 0.42% 24.04% 20.28% 6.86% -13.01% 14.06% 29.99% 14.14% 14.06% <-Median-> 9 Change CDN$
Ratio 0.69 0.70 0.70 0.71 0.69 0.69 0.71 0.79 0.76 0.74 0.70 <-Median-> 10 Ratio CDN$
$948 <-12 mths 4.87%
Revenue* CDN$ $194.2 $239.2 $324.6 $422.2 $404.6 $404.2 $499.2 $615.4 $654.3 $558.6 $568.8 $773 $904 $1,034 $1,153 $1,184 178.62% <-Total Growth 10 Revenue
Increase 39.09% 23.20% 35.68% 30.08% -4.17% -0.10% 23.51% 23.28% 6.31% -14.62% 1.81% 35.93% 16.98% 14.33% 11.51% 2.69% 10.79% <-IRR #YR-> 10 Revenue 178.62% CDN$
5 year Running Average $147.0 $171.3 $206.5 $264.0 $317.0 $359.0 $411 $469 $516 $546 $579 $634.0 $691.8 $767.8 $886.7 $1,009.7 8.00% <-IRR #YR-> 5 Revenue 46.95% CDN$
Revenue per Share $5.99 $6.47 $8.76 $11.40 $10.91 $10.89 $13.46 $16.86 $18.73 $16.03 $16.50 $22.43 $26.23 $29.99 $33.45 $34.35 12.85% <-IRR #YR-> 10 5 yr Running Average 235.00% CDN$
Increase 39.09% 8.08% 35.49% 30.08% -4.34% -0.10% 23.51% 25.26% 11.15% -14.45% 2.94% 35.93% 16.98% 14.33% 11.51% 2.69% 8.08% <-IRR #YR-> 5 5 yr Running Average 47.47% CDN$
5 year Running Average $4.54 $5.10 $5.94 $7.38 $8.71 $9.69 $11.08 $12.70 $14.17 $15.19 $16.31 $18.11 $19.98 $22.24 $25.72 $29.29 11.59% <-IRR #YR-> 10 Revenue per Share 199.32% CDN$
P/S (Price/Sales) Med 1.09 1.38 2.25 2.98 2.20 2.42 2.16 1.66 2.15 1.73 2.29 1.28 1.26 1.45 0.00 0.00 9.25% <-IRR #YR-> 5 Revenue per Share 55.64% CDN$
P/S (Price/Sales) Close 1.22 1.59 3.24 2.32 2.24 2.95 2.02 1.91 1.88 2.37 1.93 1.19 1.55 1.22 1.10 1.07 12.90% <-IRR #YR-> 10 5 yr Running Average 236.60% CDN$
*Sales in M CDN $  P/S Med 20 yr  1.73 15 yr  1.73 10 yr  2.15 5 yr  1.73 -43.30% Diff M/C 9.49% <-IRR #YR-> 5 5 yr Running Average 57.32% CDN$
-$324.6 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $904.4
-$615.4 $0.0 $0.0 $0.0 $0.0 $904.4
-$206.5 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $691.8
-$469.1 $0.0 $0.0 $0.0 $0.0 $691.8
-$8.76 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $26.23
-$16.86 $0.00 $0.00 $0.00 $0.00 $26.23
$160.93 <-12 mths 7.31%
$4.67 <-12 mths 7.36%
Adjusted Operations Cash Flow $86.6 $54.5 $78.0 $98.6 $119.1 $121.4 $95.8 $57.0 $100.6 $150.0 42.25% <-Total Growth 9 AOCF
Basic $2.34 $1.47 $2.10 $2.65 $3.21 $3.39 $2.75 $1.65 $2.92 $4.35 46.30% <-Total Growth 9 AOCF
ACFFO* Dilued $2.34 $1.47 $2.10 $2.65 $3.21 $3.39 $2.75 $1.65 $2.92 $4.35 $3.48 46.30% <-Total Growth 9 AOCF
Increase -36.94% 42.56% 26.39% 20.95% 5.52% -18.86% -40.03% 77.13% 48.97% -20.00% 10 0 10 AOCF 100.00% US$
5 year Running Average $0.47 $0.76 $1.18 $1.71 $2.35 $2.57 $2.82 $2.73 $2.78 $3.01 $3.03 14.49% <-IRR #YR-> 8 Years of Data, EPS P or N #DIV/0! US$
ACFFO Yield 9.68% 8.37% 8.64% 12.27% 13.84% 12.24% 9.37% 6.68% 14.97% 14.50% 13.32% 6.26% <-IRR #YR-> 5 AOCF 35.49% US$
Payout Ratio 13.28% 17.65% 13.51% 12.49% 11.69% 12.78% 16.93% 29.78% 13.84% 11.86% 14.77% 18.74% <-IRR #YR-> 8 AOCF #DIV/0! US$
5 year Running Average 6.19% 8.89% 11.39% 13.72% 13.62% 13.48% 16.74% 17.01% 17.04% 17.44% 5.04% <-IRR #YR-> 5 5 yr Running Average 27.86% US$
Price/AOCF Median 13.52 13.28 9.47 8.14 6.64 9.10 8.10 17.94 7.47 5.81 8.21 8.62 <-Median-> 10 5 yr Running Average US$
Price/AOCF High 16.69 17.25 11.57 10.04 7.82 11.07 11.43 22.01 8.72 7.14 8.92 11.25 <-Median-> 10 Price/AOCF Median US$
Price/AOCF Low 10.34 9.31 7.38 6.24 5.47 7.13 4.77 13.88 6.23 4.49 7.51 6.68 <-Median-> 10 Price/AOCF High US$
Price/AOCF Close 10.33 11.95 11.57 8.15 7.23 8.17 10.67 14.96 6.68 6.90 7.51 9.25 <-Median-> 10 Price/AOCF Low US$
Trailing P/AOCFClose 7.53 16.49 10.30 8.74 8.62 8.66 8.97 11.83 10.27 6.00 8.97 <-Median-> 9 Price/AOCF Close US$
Median Values DPR 10 Yrs 13.40% 5 Yrs   13.84% P/CF 5 Yrs   in order 8.10 11.07 6.23 8.17 -7.36% Diff M/C Trailing P/AOCFClose US$
Adjusted Cash Flow from Operations
ACFFO -$1.47 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.35
Cash Flow from operations before -$3.21 $0.00 $0.00 $0.00 $0.00 $4.35
WC and other Adjustments -$0.76 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.01
-$2.35 $0.00 $0.00 $0.00 $0.00 $3.01
$212.85 <-12 mths 7.31%
$6.18 <-12 mths 7.36%
Adjusted CF fr Operations CDN$ $100.5 $75.5 $104.8 $123.7 $162.5 $157.7 $122.0 $72.3 $136.3 $198.3 49.34% <-Total Growth 9 ACFFO
Basic $2.71 $2.04 $2.82 $3.33 $4.38 $4.40 $3.50 $2.09 $3.95 $5.75 52.90% <-Total Growth 9 ACFFO
ACFFO* Dilued $2.71 $2.04 $2.82 $3.33 $4.38 $4.40 $3.50 $2.09 $3.95 $5.75 $4.60 52.90% <-Total Growth 9 ACFFO
Increase -24.72% 38.24% 18.09% 31.53% 0.46% -20.45% -40.29% 89.23% 45.47% -20.00% 10 0 10 Years of Data, EPS P or N 100.00% CDN$
5 year Running Average $0.54 $0.95 $1.51 $2.18 $3.06 $3.39 $3.69 $3.54 $3.66 $3.94 $3.98 13.84% <-IRR #YR-> 8 ACFFO #DIV/0! CDN$
ACFFO Yield 10.25% 8.35% 8.79% 12.25% 13.58% 12.52% 9.20% 6.57% 14.83% 14.13% 12.56% 5.61% <-IRR #YR-> 5 ACFFO 31.35% CDN$
Payout Ratio 13.28% 17.65% 13.51% 12.49% 11.69% 12.78% 16.93% 29.78% 13.84% 11.86% 15.48% 19.46% <-IRR #YR-> 8 5 yr Running Average #DIV/0! CDN$
5 year Running Average 6.19% 8.89% 11.39% 13.72% 13.62% 13.48% 16.74% 17.01% 17.04% 17.58% 5.21% <-IRR #YR-> 5 5 yr Running Average 28.91% CDN$
Price/ACFFO Median 12.55 11.76 9.34 8.71 6.38 9.17 7.91 18.05 7.27 5.74 9.48 8.94 <-Median-> 10 Price/ACFFO Median CDN$
Price/ACFFO High 15.96 14.67 11.45 10.82 7.57 11.22 10.39 21.91 8.34 7.13 11.09 11.02 <-Median-> 10 Price/ACFFO High CDN$
Price/ACFFO Low 9.14 8.84 7.22 6.60 5.18 7.11 5.43 14.20 6.19 4.36 7.87 6.86 <-Median-> 10 Price/ACFFO Low CDN$
Price/ACFFO Close 9.76 11.97 11.38 8.16 7.36 7.99 10.87 15.21 6.74 7.08 7.96 8.96 <-Median-> 10 Price/ACFFO Close CDN$
Trailing P/ACFFO Close 9.01 15.74 9.64 9.68 8.02 8.64 9.08 12.76 10.29 6.37 9.64 <-Median-> 9 Trailing P/ACFFO Close CDN$
Median Values DPR 10 Yrs 13.40% 5 Yrs   13.84% P/CF 5 Yrs   in order 7.91 10.39 6.19 7.99 0.62% Diff M/C DPR 75% to 95% best CDN$
$1.21 <-12 mths 0.00%
EPS Basic US$ $0.79 $0.80 $1.02 $1.23 $0.75 $0.58 $1.41 $1.34 $1.29 $0.56 -$0.26 $0.53 $1.21 18.07% <-Total Growth 10 EPS Basic
EPS Diluted* $0.78 $0.81 $1.02 $1.23 $0.75 $0.58 $1.41 $1.34 $1.29 $0.56 -$0.26 $0.53 $1.21 $1.47 $2.15 18.07% <-Total Growth 10 EPS Diluted
Increase 36.12% 3.51% 26.92% 20.28% -39.07% -22.65% 142.88% -4.92% -4.15% -56.63% -146.68% 303.62% 128.30% 21.42% 46.32% 9 1 10 Years of Data, EPS P or N 90.00% US$
Earnings Yield 11.14% 8.36% 3.86% 5.11% 4.27% 2.39% 6.52% 5.78% 4.65% 1.90% -1.06% 2.72% 4.03% 927.07% 896.84% 1.67% <-IRR #YR-> 10 Earnings per Share 18.07% US$
5 year Running Average $0.59 $0.64 $0.75 $0.88 $0.92 $0.88 $1.00 $1.06 $1.07 $1.04 $0.87 $0.69 $0.66 $0.70 $1.02 -2.04% <-IRR #YR-> 5 Earnings per Share -9.80% US$
10 year Running Average $0.68 $0.72 $0.73 $0.82 $0.91 $0.98 $0.98 $0.87 $0.85 $0.86 $0.89 $1.03 -1.24% <-IRR #YR-> 10 5 yr Running Average -11.74% US$
* Diluted ESP per share  E/P 10 Yrs 4.15% 5Yrs 2.72% -8.97% <-IRR #YR-> 5 5 yr Running Average -37.50% US$
-$1.02 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.21
-$1.34 $0.00 $0.00 $0.00 $0.00 $1.21
-$0.75 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.66
-$1.06 $0.00 $0.00 $0.00 $0.00 $0.66
$1.60 <-12 mths 0.00%
EPS Basic CDN$ $0.80 $0.80 $1.09 $1.43 $1.04 $0.78 $1.77 $1.83 $1.67 $0.71 -$0.33 $0.72 $1.60 46.82% <-Total Growth 10 EPS Basic
EPS Diluted* $0.79 $0.80 $1.09 $1.43 $1.04 $0.78 $1.77 $1.83 $1.67 $0.71 -$0.33 $0.72 $1.60 $2.04 $2.98 46.82% <-Total Growth 10 EPS Diluted
Increase 39.18% 1.26% 35.68% 31.19% -27.27% -25.00% 126.92% 3.39% -8.74% -57.49% -146.48% 317.52% 122.94% 27.22% 46.32% 9 1 10 Years of Data, EPS P or N 90.00% CDN$
Earnings Yield 10.89% 7.81% 3.84% 5.41% 4.26% 2.43% 6.51% 5.67% 4.75% 1.87% -1.04% 2.69% 3.93% 5.56% 8.13% 3.92% <-IRR #YR-> 10 Earnings per Share 46.82% CDN$
5 year Running Average $0.61 $0.67 $0.77 $0.94 $1.03 $1.03 $1.22 $1.37 $1.42 $1.35 $1.13 $0.92 $0.87 $0.95 $1.40 -2.65% <-IRR #YR-> 5 Earnings per Share -12.55% CDN$
10 year Running Average $0.46 $0.54 $0.64 $0.74 $0.79 $0.82 $0.95 $1.07 $1.18 $1.19 $1.08 $1.07 $1.12 $1.18 $1.38 1.24% <-IRR #YR-> 10 5 yr Running Average 13.07% CDN$
* Diluted ESP per share  E/P 10 Yrs 4.09% 5Yrs 2.69% -8.61% <-IRR #YR-> 5 5 yr Running Average -36.23% CDN$
-$1.09 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.60
-$1.83 $0.00 $0.00 $0.00 $0.00 $1.60
-$0.77 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.87
-$1.37 $0.00 $0.00 $0.00 $0.00 $0.87
Dividend* US$ $0.55 $0.53 $0.53 Estimates Dividend* US$
Increase 6.18% -2.81% -0.54% Estimates Increase US$
Payout Ratio EPS 37.30% 24.77% #DIV/0! Estimates Payout Ratio EPS US$
Special Dividends Pd CDN$ $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.00 <-Median-> 10 Special Dividends US$
Dividend* $0.341 $0.343 $0.338 $0.310 $0.260 $0.284 $0.332 $0.375 $0.433 $0.465 $0.491 $0.404 $0.516 $0.514 $0.520 $0.520 52.46% <-Total Growth 10 Dividends US$
Increase -19.28% 0.75% -1.44% -8.32% -16.22% 9.15% 16.86% 13.18% 15.40% 7.45% 5.51% -17.67% 27.65% -0.37% 1.05% 0.00% 12 6 18 Years of data, Count P, N 66.67% US$
Average Increases 5 Year Running 1.13% -3.12% 0.45% -4.61% -8.90% -3.22% 0.01% 2.93% 7.67% 12.41% 11.68% 4.77% 7.67% 4.52% 3.24% 2.13% 3.85% <-Median-> 10 Average Incr 5 Year Running US$
Dividends 5 Yr Running $0.39 $0.37 $0.37 $0.35 $0.32 $0.31 $0.30 $0.31 $0.34 $0.38 $0.42 $0.43 $0.46 $0.48 $0.49 $0.49 25.10% <-Total Growth 10 Dividends 5 Yr Running US$
Yield H/L Price 5.37% 4.05% 1.79% 0.98% 1.33% 1.43% 1.54% 1.76% 1.40% 2.09% 1.66% 1.85% 2.04% 1.80% 1.60% <-Median-> 10 Yield H/L Price US$
Yield on High  Price 4.85% 3.50% 1.24% 0.80% 1.02% 1.17% 1.24% 1.50% 1.15% 1.48% 1.35% 1.59% 1.66% 1.66% 1.30% <-Median-> 10 Yield on High  Price US$
Yield on Low Price 6.01% 4.80% 3.23% 1.28% 1.90% 1.83% 2.00% 2.14% 1.79% 3.55% 2.15% 2.22% 2.64% 1.97% 2.07% <-Median-> 10 Yield on Low Price US$
Yield on Close Price 4.87% 3.56% 1.27% 1.29% 1.48% 1.17% 1.53% 1.62% 1.57% 1.59% 1.99% 2.07% 1.72% 1.97% 1.99% 1.99% 1.58% <-Median-> 10 Yield on Close Price US$
Payout Ratio EPS 43.70% 42.53% 33.03% 25.17% 34.62% 48.85% 23.50% 27.98% 33.68% 83.45% -188.64% 76.27% 42.65% 35.00% 24.17% #DIV/0! 34.15% <-Median-> 10 DPR EPS US$
DPR EPS 5 Yr Running 66% 57.54% 49.04% 39.73% 34.66% 34.93% 30.48% 29.36% 31.35% 36.49% 48.35% 62.79% 69.50% 68.18% 47.95% #DIV/0! 35.71% <-Median-> 10 DPR EPS 5 Yr Running US$
Payout Ratio CFPS 33.60% 27.35% 22.83% 15.83% 14.18% 17.88% 17.66% 13.91% 17.32% 14.83% 31.85% 20.39% 13.52% 13.47% 11.41% 10.28% 16.58% <-Median-> 10 DPR CF US$
DPR CF 5 Yr Running 43.20% 37.29% 33.22% 26.91% 21.11% 18.92% 17.43% 15.68% 16.04% 16.01% 17.83% 18.29% 17.80% 16.72% 15.56% 12.86% 17.81% <-Median-> 10 DPR CF 5 Yr Running US$
Payout Ratio CFPS WC 25.69% 24.84% 19.09% 13.27% 17.69% 14.15% 12.98% 11.50% 12.46% 16.92% 29.67% 13.85% 11.86% 13.47% 11.41% 10.28% 13.56% <-Median-> 10 DPR CF WC US$
DPR CF WC 5 Yr Running 36.70% 32.76% 28.67% 22.32% 19.22% 17.13% 15.03% 13.42% 13.19% 13.45% 15.30% 15.43% 15.25% 15.44% 14.14% 11.95% 15.28% <-Median-> 10 DPR CF WC 5 Yr Running US$
Median Values 10 Yr Med 10 Yr Cl 1.60% 1.58% 5 Yr Med 5 Yr Cl 1.85% 1.72% 5 Yr Med Payout 42.65% 17.32% 13.85% 6.58% <-IRR #YR-> 5 Dividends 37.49% US$
* Dividends per share  10 Yr Med and Cur. 24.52% 26.22% 5 Yr Med and Cur. 7.39% 15.64% Last Div Inc ---> $0.850 $1.000 17.65% 4.31% <-IRR #YR-> 10 Dividends 52.46% US$
Dividends Growth 15 2.76% <-IRR #YR-> 15 Dividends 50.46% US$
Dividends Growth 20 3.45% <-IRR #YR-> 18 Dividends #DIV/0! US$
Dividends Growth 5 -$0.38 $0.00 $0.00 $0.00 $0.00 $0.52 Dividends Growth 5
Dividends Growth 10 -$0.34 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.52 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 $0.52 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 $0.52 Dividends Growth 20
Historical Dividends Historical High Div 7.95% Low Div 0.91% 10 Yr High 3.46% 10 Yr Low 0.82% Med Div 1.78% Close Div 1.60% Historical Dividends US$
High/Ave/Median Values Curr diff Exp. -74.98% Cheap 118.58% Exp. -42.51% 142.57% Cheap 11.75% Cheap 24.15% High/Ave/Median  US$
Future Dividend Yield Div Yield $0.03 earning in 5 Years at IRR of 6.58% Div Inc. 37.49% Future Dividend Yield US$
Future Dividend Yield Div Yield 3.76% earning in 10 Years at IRR of 6.58% Div Inc. 89.04% Future Dividend Yield US$
Future Dividend Yield Div Yield 5.17% earning in 15 Years at IRR of 6.58% Div Inc. 159.92% Future Dividend Yield US$
Future Dividend Paid Div Paid $0.71 earning in 5 Years at IRR of 6.58% Div Inc. 37.49% Future Dividend Paid US$
Future Dividend Paid Div Paid $0.98 earning in 10 Years at IRR of 6.58% Div Inc. 89.04% Future Dividend Paid US$
Future Dividend Paid Div Paid $1.35 earning in 15 Years at IRR of 6.58% Div Inc. 159.92% Future Dividend Paid US$
Dividend Covering Cost Total Div $2.96 over 5 Years at IRR of 6.58% Div Cov. 11.34% Dividend Covering Cost US$
Dividend Covering Cost Total Div $6.32 over 10 Years at IRR of 6.58% Div Cov. 24.20% Dividend Covering Cost US$
Dividend Covering Cost Total Div $10.94 over 15 Years at IRR of 6.58% Div Cov. 41.88% Dividend Covering Cost US$
Dividend* CDN$ $0.72 $0.74 $0.73 Estimates Dividend* CDN$
Increase 6.18% 1.84% -0.54% Estimates Increase CDN$
Payout Ratio EPS 35.59% 24.77% #DIV/0! Estimates Payout Ratio EPS CDN$
Special Dividends PD CDN$ $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 $0.00 <-Median-> 10 Special Dividends CDN$
Pre-Split '14 $1.04 $1.03
Dividend* $0.347 $0.342 $0.360 $0.360 $0.360 $0.381 $0.416 $0.512 $0.563 $0.593 $0.623 $0.548 $0.683 $0.713 $0.720 $0.720 89.58% <-Total Growth 10 Dividends CDN$
Increase -17.46% -1.44% 5.37% 0.00% 0.00% 5.83% 9.19% 23.08% 9.86% 5.33% 5.06% -12.05% 24.66% 4.40% 1.05% 0.00% 10 3 19 Years of data, Count P, N 52.63% CDN$
Average Increases 5 Year Running -2.80% -3.78% -2.71% -2.71% -2.71% 1.95% 4.08% 7.62% 9.59% 10.66% 10.50% 6.26% 6.57% 5.48% 4.62% 3.61% 6.42% <-Median-> 10 Average Incr 5 Year Running CDN$
Dividends 5 Yr Running $0.41 $0.39 $0.38 $0.37 $0.35 $0.36 $0.38 $0.41 $0.45 $0.49 $0.54 $0.57 $0.60 $0.63 $0.66 $0.68 59.27% <-Total Growth 10 Dividends 5 Yr Running CDN$
Yield H/L Price 5.32% 3.81% 1.83% 1.06% 1.50% 1.45% 1.43% 1.83% 1.39% 2.14% 1.65% 1.91% 2.07% 1.63% 1.58% <-Median-> 10 Yield H/L Price CDN$
Yield on High  Price 4.76% 3.24% 1.23% 0.83% 1.20% 1.18% 1.15% 1.54% 1.14% 1.63% 1.36% 1.66% 1.66% 1.40% 1.28% <-Median-> 10 Yield on High  Price CDN$
Yield on Low Price 6.03% 4.63% 3.55% 1.45% 2.00% 1.87% 1.89% 2.26% 1.80% 3.12% 2.10% 2.24% 2.72% 1.97% 2.05% <-Median-> 10 Yield on Low Price CDN$
Yield on Close Price 4.76% 3.32% 1.27% 1.36% 1.47% 1.19% 1.53% 1.59% 1.60% 1.56% 1.96% 2.05% 1.68% 1.94% 1.97% 1.97% 1.57% <-Median-> 10 Yield on Close Price CDN$
Payout Ratio EPS 43.70% 42.53% 33.03% 25.17% 34.62% 48.85% 23.50% 27.98% 33.68% 83.45% -188.64% 76.27% 42.65% 35.00% 24.17% #DIV/0! 34.15% <-Median-> 10 DPR EPS CDN$
DPR EPS 5 Yr Running 66.02% 58.04% 48.88% 39.01% 34.29% 35.05% 30.72% 29.62% 31.47% 36.45% 47.88% 61.70% 68.85% 66.70% 46.91% #DIV/0! 35.75% <-Median-> 10 DPR EPS 5 Yr Running CDN$
Payout Ratio CFPS 33.60% 27.35% 22.83% 15.83% 14.18% 17.88% 17.66% 13.91% 17.32% 14.83% 31.85% 20.39% 13.52% 13.47% 11.41% 10.28% 16.58% <-Median-> 10 DPR CF CDN$
DPR CF 5 Yr Running 42.91% 37.35% 33.10% 26.36% 20.39% 18.45% 17.26% 15.63% 15.99% 15.99% 17.76% 18.23% 17.76% 16.64% 15.43% 12.84% 17.76% <-Median-> 10 DPR CF 5 Yr Running CDN$
Payout Ratio CFPS WC 25.69% 24.84% 19.09% 13.27% 17.69% 14.15% 12.98% 11.50% 12.46% 16.92% 29.67% 13.85% 11.86% 13.47% 11.41% 10.28% 13.56% <-Median-> 10 DPR CF WC CDN$
DPR CF WC 5 Yr Running 36.62% 32.89% 28.59% 21.87% 18.89% 16.85% 14.98% 13.44% 13.20% 13.42% 15.22% 15.32% 15.17% 15.33% 14.04% 11.95% 15.20% <-Median-> 10 DPR CF WC 5 Yr Running CDN$
Median Values 10 Yr Med 10 Yr Cl 1.58% 1.57% 5 Yr Med 5 Yr Cl 1.91% 1.68% 5 Yr Med Payout 42.65% 17.32% 13.85% 5.92% <-IRR #YR-> 5 Dividends 33.30% CDN$
* Dividends per share  10 Yr Med and Cur. 24.73% 24.94% 5 Yr Med and Cur. 3.13% 17.21% Last Div Inc ---> $0.1725 $0.1800 4.35% 6.61% <-IRR #YR-> 10 Dividends 89.58% CDN$
Dividends Growth 15 3.29% <-IRR #YR-> 15 Dividends 62.50% CDN$
Dividends Growth 20 7.21% <-IRR #YR-> 19 Dividends #DIV/0! CDN$
Dividends Growth 5 -$0.51 $0.00 $0.00 $0.00 $0.00 $0.68 Dividends Growth 5
Dividends Growth 10 -$0.36 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.68 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 $0.68 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 $0.68 Dividends Growth 20
Historical Dividends Historical High Div 9.70% Low Div 1.14% 10 Yr High 3.08% 10 Yr Low 0.86% Med Div 2.07% Close Div 1.96% Historical Dividends CDN$
High/Ave/Median Values Curr diff Exp. -79.74% Cheap 72.37% Exp. -36.20% 128.50% Exp. -5.07% Cheap 0.35% High/Ave/Median  CDN$
Future Dividend Yield Div Yield 2.62% earning in 5 Years at IRR of 5.92% Div Inc. 33.30% Future Dividend Yield CDN$
Future Dividend Yield Div Yield 3.49% earning in 10 Years at IRR of 5.92% Div Inc. 77.69% Future Dividend Yield CDN$
Future Dividend Yield Div Yield 4.65% earning in 15 Years at IRR of 5.92% Div Inc. 136.86% Future Dividend Yield CDN$
Future Dividend Paid Div Paid $0.96 earning in 5 Years at IRR of 5.92% Div Inc. 33.30% Future Dividend Paid CDN$
Future Dividend Paid Div Paid $1.28 earning in 10 Years at IRR of 5.92% Div Inc. 77.69% Future Dividend Paid CDN$
Future Dividend Paid Div Paid $1.71 earning in 15 Years at IRR of 5.92% Div Inc. 136.86% Future Dividend Paid CDN$
Dividend Covering Cost Total Div $4.05 over 5 Years at IRR of 5.92% Div Cov. 11.06% Dividend Covering Cost CDN$
Dividend Covering Cost Total Div $8.49 over 10 Years at IRR of 5.92% Div Cov. 23.18% Dividend Covering Cost CDN$
Dividend Covering Cost Total Div $14.41 over 15 Years at IRR of 5.92% Div Cov. 39.34% Dividend Covering Cost CDN$
Yield if held 5 years 6.47% 5.81% 5.71% 8.02% 6.73% 5.84% 4.64% 2.60% 1.65% 2.47% 2.36% 1.89% 2.44% 1.77% 2.60% 1.91% 2.53% <-Median-> 10 Paid Median Price CDN$
Yield if held 10 years 42.98% 47.67% 28.95% 8.28% 6.28% 7.11% 7.07% 8.13% 12.54% 11.08% 9.55% 6.11% 3.46% 2.10% 3.00% 2.74% 7.62% <-Median-> 10 Paid Median Price CDN$
Yield if held 15 years 10.25% 6.26% 9.64% 24.32% 47.23% 58.05% 41.18% 12.94% 10.33% 11.62% 9.30% 10.83% 15.88% 13.46% 11.04% 12.28% <-Median-> 10 Paid Median Price CDN$
Yield if held 20 years 12.48% 8.90% 15.07% 40.03% 77.17% 76.40% 54.89% 16.39% 12.56% 13.44% 40.03% <-Median-> 7 Paid Median Price CDN$
Yield if held 25 years 16.43% 11.87% 19.08% 48.65% 89.26% 14.15% <-Median-> 2 Paid Median Price CDN$
Cost covered if held 5 years 37.82% 33.11% 29.97% 40.75% 33.06% 27.65% 20.95% 10.30% 6.56% 10.27% 10.28% 9.78% 10.77% 7.83% 11.86% 8.97% 10.53% <-Median-> 10 Paid Median Price CDN$
Cost covered if held 10 years 364.63% 458.09% 293.00% 87.91% 67.23% 71.47% 65.00% 62.18% 90.49% 79.13% 69.14% 52.62% 25.57% 15.85% 23.97% 23.13% 68.19% <-Median-> 10 Paid Median Price CDN$
Cost covered if held 15 years 110.20% 121.96% 113.21% 109.92% 160.86% 140.55% 121.02% 84.27% 36.49% 121.96% 113.21% 109.92% 160.86% 140.55% 121.02% 113.21% <-Median-> 10 Paid Median Price CDN$
Cost covered if held 20 years 154.80% 98.64% 167.00% 461.28% 923.49% 1115.86% 698.08% 211.89% 167.50% 185.08% 461.28% <-Median-> 7 Paid Median Price CDN$
Cost covered if held 25 years 239.91% 150.95% 251.57% 683.24% 1342.81% 195.43% <-Median-> 2 Paid Median Price CDN$
Yr  Item Tot. Growth Per Year
Revenue Growth US$ $451.1 $503.8 $438.8 $448.6 $570.8 $683.8 $717 <-12 mths 4.87% 51.57% <-Total Growth 5 Revenue Growth US$ 51.57% 8.67%
ACFFO Growth $3.21 $3.39 $2.75 $1.65 $2.92 $4.35 $4.67 <-12 mths 7.36% 35.49% <-Total Growth 5 ACFFO Growth 35.49% 6.26%
Net Income Growth $49.7 $46.0 $19.4 -$8.9 $18.3 $41.7 $42 <-12 mths -0.21% -16.09% <-Total Growth 5 Net Income Growth -16.09% -3.45%
Cash Flow Growth $98.5 $87.3 $109.4 $53.1 $68.3 $131.6 $130 <-12 mths -1.14% 33.61% <-Total Growth 5 Cash Flow Growth 33.61% 5.97%
Dividend Growth $0.38 $0.43 $0.47 $0.49 $0.40 $0.52 $0.51 <-12 mths -0.37% 37.49% <-Total Growth 5 Dividend Growth 37.49% 6.58%
Stock Price Growth $23.20 $27.67 $29.33 $24.67 $19.50 $30.00 $26.12 <-12 mths -12.93% 29.31% <-Total Growth 5 Stock Price Growth 29.31% 5.28%
Revenue Growth US$ $305.2 $364.0 $292.2 $301.0 $398.0 $451.1 $503.8 $438.8 $448.6 $570.8 $683.8 $746 <-this year 9.12% 124.06% <-Total Growth 10 Revenue Growth US$ 124.06% 8.40%
ACFFO Growth $2.34 $1.47 $2.10 $2.65 $3.21 $3.39 $2.75 $1.65 $2.92 $4.35 $3.48 <-this year -20.00% 195.28% <-Total Growth 9 ACFFO Growth 195.28% 12.78%
Net Income Growth $37.9 $45.8 $27.8 $21.5 $52.5 $49.7 $46.0 $19.4 -$8.9 $18.3 $41.7 $51 <-this year 23.11% 9.91% <-Total Growth 10 Net Income Growth 9.91% 0.95%
Cash Flow Growth $54.9 $72.6 $68.0 $58.9 $69.7 $98.5 $87.3 $109.4 $53.1 $68.3 $131.6 $34 <-this year -73.81% 139.69% <-Total Growth 10 Cash Flow Growth 139.69% 9.14%
Dividend Growth $0.34 $0.31 $0.26 $0.28 $0.33 $0.38 $0.43 $0.47 $0.49 $0.40 $0.52 $0.55 <-this year 6.18% 52.46% <-Total Growth 10 Dividend Growth 52.46% 4.31%
Stock Price Growth $26.58 $24.14 $17.60 $24.30 $21.64 $23.20 $27.67 $29.33 $24.67 $19.50 $30.00 $26.12 <-this year -12.93% 12.87% <-Total Growth 10 Stock Price Growth 12.87% 1.22%
Yr  Item Tot. Growth Per Year
Revenue Growth CDN$ $615.4 $654.3 $558.6 $568.8 $773.1 $904.4 $948 <-12 mths 4.87% 46.95% <-Total Growth 5 Revenue Growth CDN$ 46.95% 8.00%
ACFFO Growth $4.38 $4.40 $3.50 $2.09 $3.95 $5.75 $6.18 <-12 mths 7.36% 31.35% <-Total Growth 5 ACFFO Growth 31.35% 5.61%
Net Income Growth $67.8 $59.7 $24.7 -$11.2 $24.8 $55.2 $55 <-12 mths -0.21% -18.65% <-Total Growth 5 Net Income Growth -18.65% -4.04%
Cash Flow Growth $134.4 $113.4 $139.3 $67.4 $92.5 $174.1 $172 <-12 mths -1.14% 29.54% <-Total Growth 5 Cash Flow Growth 29.54% 5.31%
Dividend Growth $0.51 $0.56 $0.59 $0.62 $0.55 $0.68 $0.71 <-12 mths 4.40% 33.30% <-Total Growth 5 Dividend Growth 33.30% 5.92%
Stock Price Growth $32.25 $35.14 $38.03 $31.79 $26.66 $40.71 $36.64 <-12 mths -10.00% 26.23% <-Total Growth 5 Stock Price Growth 26.23% 4.77%
Revenue Growth CDN$ $324.6 $422.2 $404.6 $404.2 $499.2 $615.4 $654.3 $558.6 $568.8 $773.1 $904.4 $1,034 <-this year 14.33% 178.62% <-Total Growth 10 Revenue Growth CDN$ 178.62% 10.79%
ACFFO Growth $2.71 $2.04 $2.82 $3.33 $4.38 $4.40 $3.50 $2.09 $3.95 $5.75 $4.60 <-this year -20.00% 182.03% <-Total Growth 9 ACFFO Growth 182.03% 12.21%
Net Income Growth $40.4 $53.1 $38.5 $28.9 $65.9 $67.8 $59.7 $24.7 -$11.2 $24.8 $55.2 $71 <-this year 28.99% 36.68% <-Total Growth 10 Net Income Growth 36.68% 3.17%
Cash Flow Growth $58.4 $84.2 $94.2 $79.1 $87.4 $134.4 $113.4 $139.3 $67.4 $92.5 $174.1 $182 <-this year 4.74% 198.05% <-Total Growth 10 Cash Flow Growth 198.05% 11.54%
Dividend Growth $0.36 $0.36 $0.36 $0.38 $0.42 $0.51 $0.56 $0.59 $0.62 $0.55 $0.68 $0.72 <-this year 6.18% 89.58% <-Total Growth 10 Dividend Growth 89.58% 6.61%
Stock Price Growth $28.42 $26.45 $24.42 $32.10 $27.18 $32.25 $35.14 $38.03 $31.79 $26.66 $40.71 $49.31 <-this year 21.13% 43.24% <-Total Growth 10 Stock Price Growth 43.24% 3.66%
Dividends on Shares $12.96 $12.96 $13.72 $14.98 $18.43 $20.25 $21.33 $22.41 $19.71 $24.57 $25.65 $25.92 $25.92 $181.31 No of Years 10 Total Divs 12/31/12
Paid  $1,023.12 $952.20 $879.12 $1,155.60 $978.48 $1,161.00 $1,265.04 $1,369.08 $1,144.44 $959.76 $1,465.56 $1,319.04 $1,319.04 $1,319.04 $1,465.56 No of Years 10 Worth $28.42 35.19
Total $1,646.87
Graham Number CDN$ $7.01 $8.26 $10.64 $13.96 $12.99 $11.49 $18.49 $20.33 $18.86 $12.27 $11.42 $11.89 $18.40 $21.43 $25.92 $0.00 72.85% <-Total Growth 10 Graham Number CDN$
Increase 25.76% 17.83% 28.80% 31.14% -6.91% -11.57% 60.93% 9.95% -7.22% -34.94% -6.97% 4.17% 54.71% 16.49% 20.96% -100.00% -1.37% <-Median-> 10 Graham Price CDN$
Price/GP Ratio Med 0.93 1.08 1.85 2.44 1.85 2.29 1.57 1.37 2.14 2.26 3.31 2.42 1.80 2.04 2.20 <-Median-> 10 Price/GP Ratio Med CDN$
Price/GP Ratio High 1.04 1.27 2.75 3.10 2.30 2.81 1.95 1.63 2.62 2.96 4.01 2.78 2.23 2.38 2.70 <-Median-> 10 Price/GP Ratio High CDN$
Price/GP Ratio Low 0.82 0.89 0.95 1.77 1.39 1.77 1.19 1.12 1.66 1.55 2.60 2.06 1.36 1.69 1.60 <-Median-> 10 Price/GP Ratio Low CDN$
Price/GP Ratio Close 1.04 1.24 2.67 1.89 1.88 2.79 1.47 1.59 1.86 3.10 2.78 2.24 2.21 1.71 1.41 #DIV/0! 2.05 <-Median-> 10 Price/GP Ratio Close CDN$
Prem/Disc Close 3.90% 24.48% 167.01% 89.50% 87.94% 179.38% 47.00% 58.63% 86.30% 209.92% 178.49% 124.19% 121.29% 70.96% 41.34% #DIV/0! 105.39% <-Median-> 10 Graham Price CDN$
Month, Year CDN$ Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Dec-25 Dec-26 26.00 <Count Years> Month, Year CDN$
Pre-Split '14 $21.86 $30.86
Price Close $7.29 $10.29 $28.42 $26.45 $24.42 $32.10 $27.18 $32.25 $35.14 $38.03 $31.79 $26.66 $40.71 $36.64 $36.64 $36.64 43.24% <-Total Growth 10 Stock Price CDN$
Increase 14.45% 41.17% 176.28% -6.93% -7.67% 31.45% -15.33% 18.65% 8.96% 8.22% -16.41% -16.14% 52.70% -10.00% 0.00% 0.00% 19.07 <-Median-> 10 CAPE (10 Yr P/E) CDN$
P/E Ratio 9.18 12.80 26.07 18.50 23.48 41.15 15.36 17.62 21.04 53.56 -96.33 37.14 25.44 18.00 12.30 #DIV/0! 4.77% <-IRR #YR-> 5 Stock Price 26.23% CDN$
Trailing P/E Ratio 12.78 12.97 35.38 24.27 17.08 30.87 34.85 18.22 19.20 22.77 44.77 -80.79 56.71 22.90 18.00 12.30 3.66% <-IRR #YR-> 10 Stock Price 43.24% CDN$
CAPE (10 Yr P/E) 10.87 11.09 13.58 14.55 15.83 18.60 18.25 18.62 19.52 21.95 26.50 28.24 28.06 27.48 24.50 #DIV/0! 6.47% <-IRR #YR-> 5 Price & Dividend 37.15% CDN$
Median 10, 5 Yrs D.  per yr 1.48% 1.70% % Tot Ret 28.75% 26.26% T P/E $23.52 $22.77 P/E:  $22.26 $25.44 5.14% <-IRR #YR-> 10 Price & Dividend 62.23% CDN$
Price 15 D.  per yr 3.73% % Tot Ret 20.67% CAPE Diff -5.64% 14.30% <-IRR #YR-> 15 Stock Price 642.43% CDN$
Price  20 D.  per yr 7.81% % Tot Ret 32.34% 16.34% <-IRR #YR-> 20 Stock Price 1963.01% CDN$
Price  25 D.  per yr 2.09% % Tot Ret 18.99% 8.90% <-IRR #YR-> 25 Stock Price
Price  30 D.  per yr 2.09% % Tot Ret 18.29% 9.33% <-IRR #YR-> 26 Stock Price
Price & Dividend 15 18.03% <-IRR #YR-> 15 Price & Dividend 776.38% CDN$
Price & Dividend 20 24.15% <-IRR #YR-> 20 Price & Dividend 2402.85% CDN$
Price & Dividend 25 10.98% <-IRR #YR-> 25 Price & Dividend
Price & Dividend 30 11.42% <-IRR #YR-> 26 Price & Dividend
Price  5 -$32.25 $0.00 $0.00 $0.00 $0.00 $40.71 Price  5
Price 10 -$28.42 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $40.71 Price 10
Price & Dividend 5 -$32.25 $0.56 $0.59 $0.62 $0.55 $41.39 Price & Dividend 5
Price & Dividend 10 -$28.42 $0.36 $0.36 $0.38 $0.42 $0.51 $0.56 $0.59 $0.62 $0.55 $41.39 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 $40.71 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 $40.71 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 $40.71 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 $40.71 Price  30
Price & Dividend 15 $0.35 $0.34 $0.36 $0.36 $0.36 $0.38 $0.42 $0.51 $0.56 $0.59 $0.62 $0.55 $41.39 Price & Dividend 15
Price & Dividend 20 $0.35 $0.34 $0.36 $0.36 $0.36 $0.38 $0.42 $0.51 $0.56 $0.59 $0.62 $0.55 $41.39 Price & Dividend 20
Price & Dividend 25 $0.35 $0.34 $0.36 $0.36 $0.36 $0.38 $0.42 $0.51 $0.56 $0.59 $0.62 $0.55 $41.39 Price & Dividend 25
Price & Dividend 30 $0.35 $0.34 $0.36 $0.36 $0.36 $0.38 $0.42 $0.51 $0.56 $0.59 $0.62 $0.55 $41.39 Price & Dividend 30
Price H/L Median CDN$ $6.52 $8.96 $19.70 $34.01 $23.99 $26.33 $29.01 $27.93 $40.34 $27.69 $37.73 $28.74 $33.05 $43.63 67.74% <-Total Growth 10 Stock Price CDN$
Increase 21.91% 37.40% 119.91% 72.61% -29.47% 9.76% 10.18% -3.72% 44.46% -31.36% 36.26% -23.84% 15.00% 32.02% 5.31% <-IRR #YR-> 10 Stock Price 67.74% CDN$
P/E Ratio 8.22 11.15 18.07 23.78 23.06 33.75 16.39 15.26 24.16 39.00 -114.33 40.03 20.65 21.43 3.42% <-IRR #YR-> 5 Stock Price 18.33% CDN$
Trailing P/E Ratio 11.44 11.29 24.52 31.20 16.77 25.31 37.19 15.78 22.04 16.58 53.14 -87.08 46.03 27.26 7.29% <-IRR #YR-> 10 Price & Dividend 95.13% CDN$
P/E on Running 5 yr Average 10.62 13.34 25.50 36.28 23.26 25.59 23.74 20.38 28.45 20.48 33.39 31.25 37.82 46.07 5.44% <-IRR #YR-> 5 Price & Dividend 30.94% CDN$
P/E on Running 10 yr Average 14.09 16.56 30.94 46.18 30.20 32.05 30.64 26.07 34.25 23.24 34.96 26.84 29.46 36.89 15.26 P/E Ratio Historical Median CDN$
Median 10, 5 Yrs D.  per yr 1.98% 2.01% % Tot Ret 27.15% 37.01% T P/E 23.68 22.04 P/E:  23.42 24.16 Count 26 Years of data CDN$
-$19.70 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $33.05
-$27.93 $0.00 $0.00 $0.00 $0.00 $33.05
-$19.70 $0.36 $0.36 $0.38 $0.42 $0.51 $0.56 $0.59 $0.62 $0.55 $33.73
-$27.93 $0.56 $0.59 $0.62 $0.55 $33.73
High Months CDN$ Dec Dec Dec Apr May Nov Apr Dec Jul Aug Mar Aug Dec Mar
Pre-Split '14 $21.86 $31.60
Price High $7.29 $10.53 $29.25 $43.25 $29.93 $32.30 $36.02 $33.15 $49.38 $36.36 $45.79 $33.00 $41.03 $51.03 40.27% <-Total Growth 10 Stock Price CDN$
Increase 14.45% 44.56% 177.69% 47.86% -30.80% 7.92% 11.52% -7.97% 48.96% -26.37% 25.94% -27.93% 24.33% 24.37% 3.44% <-IRR #YR-> 10 Stock Price 40.27% CDN$
P/E Ratio 9.18 13.11 26.83 30.24 28.78 41.41 20.35 18.11 29.57 51.21 -138.76 45.97 25.64 25.06 4.36% <-IRR #YR-> 5 Stock Price 23.77% CDN$
Trailing P/E Ratio 12.78 13.28 36.41 39.68 20.93 31.06 46.18 18.73 26.98 21.77 64.49 -100.00 57.16 31.89 18.11 P/E Ratio Historical Median CDN$
Median 10, 5 Yrs T P/E 29.02 26.98 P/E:  29.17 29.57 30.24 P/E Ratio Historical High CDN$
-$29.25 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $41.03
-$33.15 $0.00 $0.00 $0.00 $0.00 $41.03
Low Months CDN$ Sep Jan Jan Oct Oct Aug May Mar Nov Mar Dec Dec Jun Aug
Price Low $5.75 $7.38 $10.15 $24.76 $18.04 $20.35 $21.99 $22.70 $31.30 $19.02 $29.67 $24.47 $25.06 $36.22 146.90% <-Total Growth 10 Stock Price CDN$
Increase 32.87% 28.33% 37.47% 143.94% -27.14% 12.80% 8.06% 3.23% 37.89% -39.23% 55.99% -17.53% 2.41% 44.53% 9.46% <-IRR #YR-> 10 Stock Price 146.90% CDN$
P/E Ratio 7.25 9.19 9.31 17.31 17.35 26.09 12.42 12.40 18.74 26.79 -89.91 34.09 15.66 17.79 2.00% <-IRR #YR-> 5 Stock Price 10.40% CDN$
Trailing P/E Ratio 10.09 9.31 12.63 22.72 12.62 19.57 28.19 12.82 17.10 11.39 41.79 -74.15 34.91 22.63 10.67 P/E Ratio Historical Median CDN$
Median 10, 5 Yrs T P/E 18.34 17.10 P/E:  17.33 18.74 7.60 P/E Ratio Historical Low CDN$
-$10.15 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $25.06
Value using exchange rate $7.16 $10.34 $26.72 $22.80 $17.64 $23.91 $21.67 $23.64 $27.06 $29.87 $25.07 $19.68 $30.78 $26.44 $26.44 $26.44
Month, Year US$ Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Dec-25 Dec-26 19.00 <Count Years> Month, Year US$
Price Close $7.00 $9.66 $26.58 $24.14 $17.60 $24.30 $21.64 $23.20 $27.67 $29.33 $24.67 $19.50 $30.00 $26.12 $26.12 $26.12 12.87% <-Total Growth 10 Stock Price US$
Increase 12.00% 38.00% 175.16% -9.18% -27.09% 38.07% -10.95% 7.21% 19.27% 6.00% -15.89% -20.96% 53.85% -12.93% 0.00% 0.00% 18.68 <-Median-> 10 CAPE (10 Yr P/E) US$
P/E Ratio 8.97 11.96 25.94 19.58 23.43 41.83 15.34 17.29 21.52 52.60 -94.78 36.79 24.79 17.78 12.15 #DIV/0! 5.28% <-IRR #YR-> 5 Stock Price 29.31% US$
Trailing P/E Ratio 12.21 12.38 32.92 23.56 14.28 32.36 37.25 16.44 20.63 22.81 44.24 -74.92 56.60 21.59 17.78 12.15 1.22% <-IRR #YR-> 10 Stock Price 12.87% US$
CAPE (10 Yr P/E) 14.51 15.54 17.97 17.77 18.16 19.21 21.60 26.20 28.22 28.01 27.49 24.58 #DIV/0! 7.07% <-IRR #YR-> 5 Price & Dividend 430.89% US$
Median 10, 5 Yrs D.  per yr 1.36% 1.80% % Tot Ret 52.79% 25.43% T P/E $23.18 $22.81 P/E:  $22.48 $24.79 2.58% <-IRR #YR-> 10 Price & Dividend 617.61% US$
Price 15 D.  per yr 4.34% % Tot Ret 23.95% CAPE Diff -4.85% 13.79% <-IRR #YR-> 15 Stock Price 594.44% US$
Price  20 D.  per yr 4.52% % Tot Ret 28.79% 11.17% <-IRR #YR-> 19 Stock Price #DIV/0! US$
Price & Dividend 15 18.14% <-IRR #YR-> 15 Price & Dividend 5041.54% US$
Price & Dividend 20 15.69% <-IRR #YR-> 19 Price & Dividend #DIV/0! US$
Price  5 -$23.20 $0.00 $0.00 $0.00 $0.00 $30.00 Price  5
Price 10 -$26.58 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $30.00 Price 10
Price & Dividend 5 -$23.20 $0.43 $0.47 $0.49 $0.40 $30.52 Price & Dividend 5
Price & Dividend 10 -$26.58 $0.31 $0.26 $0.28 $0.33 $0.38 $0.43 $0.47 $0.49 $0.40 $30.52 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 $30.00 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 $30.00 Price  20
Price & Dividend 15 $0.34 $0.34 $0.34 $0.31 $0.26 $0.28 $0.33 $0.38 $0.43 $0.47 $0.49 $0.40 $30.52 Price & Dividend 15
Price & Dividend 20 $0.34 $0.34 $0.34 $0.31 $0.26 $0.28 $0.33 $0.38 $0.43 $0.47 $0.49 $0.40 $30.52 Price & Dividend 20
Price H/L Median US$ $6.35 $8.49 $18.89 $31.58 $19.56 $19.89 $21.60 $21.33 $30.83 $22.27 $29.58 $21.82 $25.29 $28.58 33.86% <-Total Growth 10 Stock Price US$
Increase 22.20% 33.72% 122.59% 67.16% -38.05% 1.69% 8.58% -1.26% 44.53% -27.76% 32.81% -26.22% 15.88% 12.99% 2.96% <-IRR #YR-> 10 Stock Price 33.86% US$
P/E Ratio 8.14 10.51 18.43 25.62 26.05 34.25 15.31 15.90 23.98 39.94 -113.64 41.18 20.90 19.45 3.46% <-IRR #YR-> 5 Stock Price 18.56% US$
Trailing P/E Ratio 11.08 10.88 23.40 30.82 15.87 26.49 37.19 15.12 22.98 17.32 53.05 -83.84 47.72 23.62 4.68% <-IRR #YR-> 10 Price & Dividend 884.69% US$
P/E on Running 5 yr Average 10.82 13.19 25.09 35.74 21.28 22.62 21.60 20.06 28.71 21.51 34.11 31.59 38.05 40.75 5.40% <-IRR #YR-> 5 Price & Dividend 455.32% US$
P/E on Running 10 yr Average 46.24 27.23 27.15 26.29 23.49 31.50 22.79 33.87 25.81 29.27 32.19 15.61 P/E Ratio Historical Median US$
Median 10, 5 Yrs D.  per yr 1.72% 1.94% % Tot Ret 36.78% 35.84% T P/E 24.74 22.98 P/E:  24.80 23.98 Count 19 Years of data US$
-$18.89 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $25.29
-$21.33 $0.00 $0.00 $0.00 $0.00 $25.29
-$18.89 $0.31 $0.26 $0.28 $0.33 $0.38 $0.43 $0.47 $0.49 $0.40 $25.69
-$21.33 $0.43 $0.47 $0.49 $0.40 $25.69
High Months US$ Nov Nov Dec Apr May Dec Apr Dec Jul Sep Mar Jan  Dec Apr
Price High $7.02 $9.83 $27.32 $39.00 $25.41 $24.30 $26.65 $25.10 $37.51 $31.43 $36.28 $25.45 $31.04 $31.03 13.63% <-Total Growth 10 Stock Price US$
Increase 14.78% 39.88% 178.03% 42.75% -34.84% -4.37% 9.67% -5.80% 49.41% -16.20% 15.43% -29.85% 21.96% -0.03% 1.29% <-IRR #YR-> 10 Stock Price 13.63% US$
P/E Ratio 9.00 12.17 26.66 31.64 33.83 41.83 18.89 18.71 29.17 56.36 -139.39 48.02 25.65 21.12 4.34% <-IRR #YR-> 5 Stock Price 23.65% US$
Trailing P/E Ratio 12.26 12.60 33.83 38.05 20.61 32.35 45.88 17.79 27.96 24.45 65.06 -97.77 58.57 25.64 18.80 P/E Ratio Historical Median US$
Median 10, 5 Yrs T P/E 30.16 27.96 P/E:  30.40 29.17 40.23 P/E Ratio Historical High US$
-$27.32 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $31.04
-$25.10 $0.00 $0.00 $0.00 $0.00 $31.04
Low Months US$ Sep Jan Jan Dec Nov Aug May Mar Nov Mar Dec Dec Jun  Aug
Price Low $5.67 $7.15 $10.47 $24.17 $13.72 $15.49 $16.55 $17.56 $24.15 $13.11 $22.88 $18.20 $19.54 $26.12 86.68% <-Total Growth 10 Stock Price US$
Increase 32.84% 26.10% 46.40% 130.86% -43.23% 12.92% 6.87% 6.06% 37.56% -45.70% 74.47% -20.47% 7.38% 33.67% 6.44% <-IRR #YR-> 10 Stock Price 86.68% US$
P/E Ratio 7.27 8.86 10.21 19.60 18.26 26.66 11.73 13.09 18.78 23.52 -87.90 34.33 16.15 17.78 2.16% <-IRR #YR-> 5 Stock Price 11.29% US$
Trailing P/E Ratio 9.89 9.17 12.96 23.58 11.13 20.62 28.50 12.44 18.00 10.20 41.03 -69.91 36.87 21.59 10.15 P/E Ratio Historical Median US$
Median 10, 5 Yrs T P/E 19.31 18.00 P/E:  18.52 18.78 7.08 P/E Ratio Historical Low US$
-$10.47 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $19.54
$22 <-12 mths 51.82%
Free Cash Flow WSJ US$ $39.90 $37.71 -$0.89 $29.58 -$6.14 $57.22 $6.98 -$4.45 $11.46 -71.27% <-Total Growth 8 Free Cash Flow WSJ US$
Change -5.49% -102.37% 3410.35% -120.75% 1032.07% -87.80% -163.74% 357.69%
Free Cash Flow MS US$ -$3.97 -$7.93 -$13.76 -$12.83 $44.27 $41.40 $3.02 $29.20 -$14.68 $60.21 $7.28 $14.51 -$1.94 $24.98 $73.10 85.90% <-Total Growth 10 Free Cash Flow MS US$ US$
Change -92.70% 866.42% -150.26% 510.29% -87.91% 99.25% -113.37% 1387.73% 192.61% #NUM! <-IRR #YR-> 5 Free Cash Flow MS -106.64% US$
FCF/CF from Op Ratio -0.17 -0.25 -0.18 0.65 0.70 0.04 0.30 -0.17 0.55 0.14 0.21 -0.01 0.19 0.47 -17.79% <-IRR #YR-> 10 Free Cash Flow MS 85.90% US$
Dividends paid $12.42 $13.40 $2.08 $2.42 $2.40 $3.24 $4.43 $4.68 $5.28 $5.63 $14.51 $17.51 $17.72 $17.91 30.67% <-Total Growth 10 Dividends paid US$
Percentage paid 5.81% 107.21% 15.18% -31.86% 8.76% 77.30% 100.00% -902.63% 70.95% 24.50% $0.12 <-Median-> 8 Percentage paid US$
5 Year Coverage 16.81% 27.34% 35.76% 72.80% 57.74% 62.14% 5 Year Coverage US$
Dividend Coverage Ratio 17.22 0.93 6.59 -3.14 11.41 1.29 1.00 -0.11 1.41 4.08 1.15 <-Median-> 8 Dividend Coverage Ratio US$
5 Year of Coverage 5.95 3.66 2.80 1.37 1.73 1.61 5 Year of Caogerage US$
$30 <-12 mths 51.82%
Free Cash Flow WSJ CDN$ $55.26 $50.64 -$1.12 $40.35 -$7.97 $72.85 $8.85 -$6.03 $15.16 -72.56% <-Total Growth 8 Free Cash Flow WSJ CDN$
Change -8.36% -102.21% 3699.82% -119.76% 1013.70% -87.85% -168.09% 351.63%
Free Cash Flow MS CDN$ -$4.04 -$7.89 -$14.63 -$14.88 $61.30 $55.59 $3.79 $39.83 -$19.06 $76.66 $9.23 $19.65 -$2.57 $34.6 $101.3 82.46% <-Total Growth 10 Free Cash Flow MS CDN$ CDN$
Change -93.18% 950.92% -147.85% 502.20% -87.96% 112.86% -113.06% 1449.26% 192.61% #NUM! <-IRR #YR-> 5 Free Cash Flow MS -106.44% CDN$
FCF/CF from Op Ratio 0.70 0.04 0.30 -0.17 0.55 0.14 0.21 -0.01 0.19 0.47 -15.98% <-IRR #YR-> 10 Free Cash Flow MS 82.46% CDN$
Dividends paid $12.63 $13.33 $2.21 $2.81 $3.33 $4.35 $5.56 $6.38 $6.85 $7.17 $19.65 $23.16 $24.56 $24.82 73.72% <-Total Growth 10 Dividends paid CDN$
Percentage paid 5.99% 114.75% 13.96% -33.47% 8.94% 77.63% 100.00% -902.63% 70.95% 24.50% $0.11 <-Median-> 8 Percentage paid CDN$
5 Year Coverage 16.88% 27.44% 36.11% 75.32% 59.15% 61.24% 5 Year Coverage CDN$
Dividend Coverage Ratio 16.69 0.87 7.16 -2.99 11.18 1.29 1.00 -0.11 1.41 4.08 1.14 <-Median-> 8 Dividend Coverage Ratio CDN$
5 Year of Coverage 5.92 3.64 2.77 1.33 1.69 1.63 5 Year of Caogerage CDN$
Market Cap in $M US$ $227.1 $357.2 $984.4 $894.0 $653.0 $901.5 $802.9 $847.1 $966.3 $1,022.3 $850.5 $672.2 $1,034.2 $900.4 $900.4 $900.4 0.05 <-Total Growth 10 Market Cap 5.06% US$
Market Cap in $M CDN$ $236.4 $380.4 $1,052.5 $979.5 $906.0 $1,190.9 $1,008.4 $1,177.5 $1,227.2 $1,325.5 $1,095.9 $919.1 $1,403.4 $1,263.1 $1,263.1 $1,263.1 0.33 <-Total Growth 10 Market Cap 33.34% CDN$
Diluted # of Shares in Million 32.510 34.926 37.007 37.034 37.074 37.101 37.101 37.084 35.826 34.871 34.601 34.473 34.473 34.47 34.47 -6.85% <-Total Growth 10 Diluted CDN$
Change 0.05% 7.43% 5.96% 0.07% 0.11% 0.07% 0.00% -0.05% -3.39% -2.67% -0.77% -0.37% 0.00% 0.00% 0.00% -0.71% <-IRR #YR-> 10 Diluted CDN$
Difference Diluted/Basic -0.21% -0.19% 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% -1.45% <-IRR #YR-> 5 Diluted CDN$
Basic # of Shares in Millions 32.441 34.860 37.007 37.034 37.074 37.101 37.101 37.084 35.826 34.871 34.601 34.473 34.473 34.47 34.47 -6.85% <-Total Growth 10 Basic CDN$
Change 0.05% 7.46% 6.16% 0.07% 0.11% 0.07% 0.00% -0.05% -3.39% -2.67% -0.77% -0.37% 0.00% 0.00% 0.00% -0.02% <-Median-> 10 Change CDN$
Difference 0.00% 6.08% 0.07% 0.00% 0.07% 0.00% 0.00% -1.54% -2.52% -0.05% -0.37% 0.00% 0.00% 0.00% 0.00% 0.00% <-Median-> 10 Difference CDN$
$130 <-12 mths -1.14%
# of Share in Millions 32.441 36.980 37.034 37.034 37.101 37.101 37.101 36.513 34.924 34.854 34.473 34.473 34.473 34.473 34.473 34.473 -0.71% <-IRR #YR-> 10 Shares -6.91% US$
Change 0.00% 13.99% 0.15% 0.00% 0.18% 0.00% 0.00% -1.58% -4.35% -0.20% -1.09% 0.00% 0.00% 0.00% 0.00% 0.00% -1.14% <-IRR #YR-> 5 Shares -5.59% US$
Cash Flow from Operations $M US$ $32.91 $46.44 $54.91 $72.58 $68.04 $58.89 $69.67 $98.51 $87.32 $109.37 $53.14 $68.33 $131.61 $131.57 $157.02 $174.28 139.69% <-Total Growth 10 Cash Flow US$
Increase 25.39% 41.11% 18.25% 32.18% -6.25% -13.45% 18.30% 41.39% -11.36% 25.26% -51.41% 28.59% 92.62% -0.03% 19.34% 10.99% Share Iss SO, Buybacks Cl B Shares Conv. US$
5 year Running Average $29.0 $33.3 $38.6 $46.6 $55.0 $60.2 $64.8 $73.5 $76.5 $84.8 $83.6 $83.3 $90.0 $98.8 $108.3 $132.6 133.31% <-Total Growth 10 CF 5 Yr Running US$
CFPS $1.01 $1.26 $1.48 $1.96 $1.83 $1.59 $1.88 $2.70 $2.50 $3.14 $1.54 $1.98 $3.82 $3.82 $4.55 $5.06 157.49% <-Total Growth 10 Cash Flow per Share US$
Increase 25.39% 23.79% 18.07% 32.18% -6.42% -13.45% 18.30% 43.67% -7.33% 25.51% -50.88% 28.59% 92.62% -0.03% 19.34% 10.99% 9.14% <-IRR #YR-> 10 Cash Flow 139.69% US$
5 year Running Average $0.89 $0.99 $1.11 $1.30 $1.51 $1.62 $1.75 $1.99 $2.10 $2.36 $2.35 $2.37 $2.60 $2.86 $3.14 $3.85 5.97% <-IRR #YR-> 5 Cash Flow 33.61% US$
P/CF on Med Price 6.26 6.76 12.74 16.11 10.67 12.53 11.50 7.91 12.33 7.10 19.19 11.01 6.62 7.49 0.00 0.00 9.92% <-IRR #YR-> 10 Cash Flow per Share 157.49% US$
P/CF on Closing Price 6.90 7.69 17.93 12.32 9.60 15.31 11.52 8.60 11.07 9.35 16.00 9.84 7.86 6.84 5.73 5.17 7.19% <-IRR #YR-> 5 Cash Flow per Share 41.51% US$
-39.20% Diff M/C 8.57% <-IRR #YR-> 10 CFPS 5 yr Running 133.56% US$
$160.93 <-12 mths 7.31% US$
Excl.Working Capital CF US$ $10.1 $4.7 $10.7 $14.0 -$13.5 $15.5 $25.1 $20.6 $34.1 -$13.5 $3.9 $32.27 $18.35 $0.00 $0.00 $0.00 5.44% <-IRR #YR-> 5 CFPS 5 yr Running 30.36% US$
Cash Flow from Operations $M WC $43.05 $51.12 $65.65 $86.61 $54.53 $74.38 $94.82 $119.11 $121.41 $95.83 $57.04 $100.60 $149.97 $131.57 $157.02 $174.28 128.45% <-Total Growth 10 Cash Flow less WC US$
Increase 27.17% 18.74% 28.42% 31.94% -37.04% 36.40% 27.47% 25.63% 1.93% -21.07% -40.48% 76.36% 49.07% -12.27% 19.34% 10.99% 11.69% <-IRR #YR-> 10 Cash Flow less WC 128.45% US$
5 year Running Average $34.1 $37.9 $44.7 $56.1 $60.2 $66.5 $75.2 $85.9 $92.9 $101.1 $97.6 $98.8 $105.0 $107.0 $119.2 $142.7 4.71% <-IRR #YR-> 5 Cash Flow less WC 25.90% US$
CFPS Excl. WC $1.33 $1.38 $1.77 $2.34 $1.47 $2.00 $2.56 $3.26 $3.48 $2.75 $1.65 $2.92 $4.35 $3.82 $4.55 $5.06 8.92% <-IRR #YR-> 10 CF less WC 5 Yr Run 135.05% US$
Increase 27.17% 4.16% 28.24% 31.94% -37.15% 36.40% 27.47% 27.65% 6.57% -20.91% -39.82% 76.36% 49.07% -12.27% 19.34% 10.99% 4.09% <-IRR #YR-> 5 CF less WC 5 Yr Run 22.21% US$
5 year Running Average $1.05 $1.13 $1.29 $1.57 $1.66 $1.79 $2.03 $2.33 $2.55 $2.81 $2.74 $2.81 $3.03 $3.10 $3.46 $4.14 9.39% <-IRR #YR-> 10 CFPS - Less WC 145.41% US$
P/CF on Median Price 4.78 6.14 10.66 13.50 13.31 9.92 8.45 6.54 8.87 8.10 17.88 7.48 5.81 7.49 0.00 0.00 5.93% <-IRR #YR-> 5 CFPS - Less WC 33.35% US$
P/CF on Closing Price 5.27 6.99 14.99 10.32 11.97 12.12 8.47 7.11 7.96 10.67 14.91 6.68 6.90 6.84 5.73 5.17 8.93% <-IRR #YR-> 10 CFPS 5 yr Running 135.26% US$
*Operational Cash Flow. CF/-WC P/CF Med 10 yr 11.26 5 yr  11.01 P/CF Med 10 yr 8.66 5 yr  8.10 -20.98% Diff M/C 5.43% <-IRR #YR-> 5 CFPS 5 yr Running 30.24% US$
$172.1 <-12 mths -1.14%
Cash Flow from Operations $M CDN$ $33.5 $46.2 $58.4 $84.2 $94.2 $79.1 $87.4 $134.4 $113.4 $139.3 $67.4 $92.54 $174.07 $182.3 $217.6 $241.5 198.05% <-Total Growth 10 Cash Flow CDN$
Increase 28.21% 38.04% 26.41% 44.18% 11.90% -16.08% 10.53% 53.76% -15.61% 22.79% -51.62% 37.37% 88.10% 4.74% 19.34% 10.99% Share Iss SO, Buybacks Cl B Shares Conv. CDN$
5 year Running Average $30.6 $35.0 $39.6 $49.7 $63.3 $72.4 $80.7 $95.9 $101.7 $110.7 $108.4 $109.4 $117.3 $131.1 $146.8 $181.6 196.35% <-Total Growth 10 CF 5 Yr Running CDN$
CFPS $1.03 $1.25 $1.58 $2.27 $2.54 $2.13 $2.36 $3.68 $3.25 $4.00 $1.95 $2.68 $5.05 5.289 6.312 7.006 220.19% <-Total Growth 10 Cash Flow per Share CDN$
Increase 28.21% 21.10% 26.23% 44.18% 11.70% -16.08% 10.53% 56.23% -11.77% 23.04% -51.09% 37.37% 88.10% 4.74% 19.34% 10.99% 11.54% <-IRR #YR-> 10 Cash Flow 198.05% CDN$
5 year Running Average $0.94 $1.04 $1.14 $1.39 $1.73 $1.95 $2.18 $2.60 $2.79 $3.08 $3.05 $3.11 $3.39 $3.79 $4.26 $5.27 5.31% <-IRR #YR-> 5 Cash Flow 29.54% CDN$
P/CF on Med Price 6.32 7.17 12.49 14.96 9.44 12.35 12.31 7.59 12.42 6.93 19.31 10.70 6.54 8.25 0.00 0.00 12.34% <-IRR #YR-> 10 Cash Flow per Share 220.19% CDN$
P/CF on Closing Price 7.06 8.23 18.02 11.63 9.62 15.06 11.54 8.76 10.82 9.52 16.27 9.93 8.06 6.93 5.80 5.23 6.53% <-IRR #YR-> 5 Cash Flow per Share 37.20% CDN$
-39.80% Diff M/C 11.49% <-IRR #YR-> 10 CFPS 5 yr Running 196.80% CDN$
$212.85 <-12 mths 7.31% CDN$
Excl.Working Capital CF CDN$ $10.3 $4.66 $11.42 $16.28 -$18.71 $20.80 $31.55 $28.11 $44.28 -$17.23 $4.95 $43.71 $24.27 $0.00 $0.00 $0.00 5.46% <-IRR #YR-> 5 CFPS 5 yr Running 30.43% CDN$
Cash Flow from Operations $M WC $43.78 $50.86 $69.82 $100.48 $75.52 $99.87 $118.95 $162.49 $157.69 $122.02 $72.32 $136.25 $198.35 $182.33 $217.60 $241.52 184.07% <-Total Growth 10 Cash Flow less WC CDN$
Increase 30.03% 16.16% 37.29% 43.91% -24.84% 32.25% 19.10% 36.61% -2.96% -22.62% -40.73% 88.40% 45.57% -8.07% 19.34% 10.99% 11.01% <-IRR #YR-> 10 Cash Flow less WC 184.07% CDN$
5 year Running Average $35.9 $39.7 $45.8 $59.7 $68.1 $79.3 $92.9 $111.5 $122.9 $132.2 $126.7 $130.2 $137.3 $142.3 $161.4 $195.2 4.07% <-IRR #YR-> 5 Cash Flow less WC 22.06% CDN$
CFPS Excl. WC $1.35 $1.38 $1.89 $2.71 $2.04 $2.69 $3.21 $4.45 $4.52 $3.50 $2.10 $3.95 $5.75 $5.29 $6.31 $7.01 11.60% <-IRR #YR-> 10 CF less WC 5 Yr Run 199.65% CDN$
Increase 30.03% 1.90% 37.09% 43.91% -24.98% 32.25% 19.10% 38.81% 1.46% -22.47% -40.07% 88.40% 45.57% -8.07% 19.34% 10.99% 4.26% <-IRR #YR-> 5 CF less WC 5 Yr Run 23.20% CDN$
5 year Running Average $1.11 $1.18 $1.32 $1.67 $1.87 $2.14 $2.51 $3.02 $3.38 $3.67 $3.55 $3.70 $3.96 $4.12 $4.68 $5.66 11.80% <-IRR #YR-> 10 CFPS - Less WC 205.17% CDN$
P/CF on Median Price 4.83 6.51 10.45 12.53 11.78 9.78 9.05 6.27 8.93 7.91 17.98 7.27 5.74 8.25 0.00 0.00 5.27% <-IRR #YR-> 5 CFPS - Less WC 29.29% CDN$
P/CF on Closing Price 5.40 7.48 15.07 9.75 12.00 11.92 8.48 7.25 7.78 10.86 15.15 6.75 7.08 6.93 5.80 5.23 11.62% <-IRR #YR-> 10 CFPS 5 yr Running 200.10% CDN$
*Operational Cash Flow. CF/-WC P/CF Med 10 yr 11.51 5 yr  10.70 P/CF Med 10 yr 8.99 5 yr  7.91 -22.95% Diff M/C 5.59% <-IRR #YR-> 5 CFPS 5 yr Running 31.28% CDN$
-$1.48 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.82 Cash Flow per Share US$
-$2.70 $0.00 $0.00 $0.00 $0.00 $3.82 Cash Flow per Share US$
-$1.14 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.60 CFPS 5 yr Running US$
-$1.99 $0.00 $0.00 $0.00 $0.00 $2.60 CFPS 5 yr Running US$
-$65.6 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $198.3 Cash Flow less WC US$
-$119.1 $0.0 $0.0 $0.0 $0.0 $150.0 Cash Flow less WC US$
-$44.7 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $105.0 CF less WC 5 Yr Run US$
-$85.9 $0.0 $0.0 $0.0 $0.0 $105.0 CF less WC 5 Yr Run US$
-$1.77 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.35 CFPS - Less WC US$
-$3.26 $0.00 $0.00 $0.00 $0.00 $4.35 CFPS - Less WC US$
-$1.58 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5.05 Cash Flow per Share CDN$
-$3.68 $0.00 $0.00 $0.00 $0.00 $5.05 Cash Flow per Share CDN$
-$1.14 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.39 CFPS 5 yr Running CDN$
-$2.60 $0.00 $0.00 $0.00 $0.00 $3.39 CFPS 5 yr Running CDN$
-$69.8 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $198.3 Cash Flow less WC CDN$
-$162.5 $0.0 $0.0 $0.0 $0.0 $198.3 Cash Flow less WC CDN$
-$45.8 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $137.3 CF less WC 5 Yr Run CDN$
-$111.5 $0.0 $0.0 $0.0 $0.0 $137.3 CF less WC 5 Yr Run CDN$
-$1.89 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5.75 CFPS - Less WC CDN$
-$4.45 $0.00 $0.00 $0.00 $0.00 $5.75 CFPS - Less WC CDN$
OPM Ratio CDN$ 17.24% 19.31% 17.99% 19.94% 23.29% 19.56% 17.51% 21.84% 17.33% 24.93% 11.84% 11.97% 19.25% 17.63% 6.97% <-Total Growth 10 OPM CDN$
Increase -7.82% 12.04% -6.83% 10.84% 16.77% -15.99% -10.51% 24.72% -20.62% 43.81% -52.48% 1.06% 60.79% -8.39% Should increase  or be stable. CDN$
Diff from Median -11.2% -0.5% -7.3% 2.8% 20.0% 0.8% -9.8% 12.5% -10.7% 28.5% -39.0% -38.3% -0.8% -9.1% 0.00 <-Median-> 10 OPM CDN$
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 19.41% 5 Yrs 17.33% should be  zero, it is a   check on calculations CDN$
$160.97 <-12 mths 7.10%
Adjusted EBITDA US$ $103.54 $77.82 $78.02 $99.94 $118.54 $121.99 $96.47 $45.70 $99.96 $150.30 $173.76 $205.22 $207.82 31.11% <-Total Growth 9 Adjusted EBITDA US$
change -24.84% 0.26% 28.09% 18.60% 2.92% -20.92% -52.63% 118.74% 50.37% 15.61% 18.11% 1.27% 2.92% <-Median-> 9 change
Basic $2.80 $2.10 $2.10 $2.69 $3.20 $3.40 $2.76 $1.32 $2.90 $2.90 $2.90 $2.90 $2.90 3.59% <-Total Growth 9 Basic
Diluted $2.80 $2.10 $2.10 $2.69 $3.20 $3.40 $2.76 $1.32 $2.90 $2.90 $2.90 $2.90 $2.90 3.59% <-Total Growth 9 Diluted
EBITDA Margins 28.45% 26.63% 25.92% 25.11% 26.27% 24.22% 21.99% 10.19% 17.51% 21.98% 23.29% 24.67% 24.32% 24.67% <-Median-> 10 EBITDA Margins
$223.08 <-12 mths 12.22%
Adjusted EBITDA CDN$ $120.12 $107.76 $104.76 $125.38 $161.71 $158.45 $122.83 $57.93 $135.38 $198.79 $240.80 $284.40 $288.00 39.57% <-Total Growth 9 Adjusted EBITDA CDN$
change -10.29% -2.78% 19.68% 28.97% -2.02% -22.48% -52.83% 133.68% 46.83% 21.14% 18.11% 1.27% -2.02% <-Median-> 9 change
Basic $3.24 $2.91 $2.82 $3.38 $4.36 $4.42 $3.52 $1.67 $3.93 $3.84 $4.02 $4.02 $4.02 15.43% <-Total Growth 9 Basic
Diluted $3.24 $2.91 $2.82 $3.38 $4.36 $4.42 $3.52 $1.67 $3.93 $3.84 $4.02 $4.02 $4.02 15.43% <-Total Growth 9 Diluted
EBITDA Margins 28.45% 26.63% 25.92% 25.11% 26.27% 24.22% 21.99% 10.19% 17.51% 21.98% 23.29% 24.67% 24.32% 24.67% <-Median-> 10 EBITDA Margins
Long Term Debt $107.20 $75.00 $75.00 $75.00 $75.00 $101.01 $78.46 $95.63 $138.88 $163.69 $192.89 34.51% <-Total Growth 9 Bank Debt US$
Change -30.04% 0.00% 0.01% 0.00% 34.68% -22.32% 21.89% 45.23% 17.86% 17.84% 0.01% <-Median-> 9 Change US$
Debt/Market Cap Ratio 0.12 0.11 0.08 0.09 0.09 0.10 0.08 0.11 0.21 0.16 0.21 0.11 <-Median-> 10 Debt/Market Cap Ratio US$
Assets/Current Liabilities Ratio 8.91 11.10 10.46 9.16 7.39 5.10 5.27 4.68 5.11 4.57 5.40 6.33 <-Median-> 10 Assets/Current Liabilities Ratio US$
Current Liabilities/Assets Ratio 0.11 0.09 0.10 0.11 0.14 0.20 0.19 0.21 0.20 0.22 0.19 0.16 <-Median-> 10 Current Liabilities/Assets Ratio/td> US$
Debt to Cash Flow (Years) 1.48 1.10 1.27 1.08 0.76 1.16 0.72 1.80 2.03 1.24 1.47 1.20 <-Median-> 10 Debt to Cash Flow (Years) US$
Long Term Debt $124.36 $103.85 $100.70 $94.09 $102.32 $131.19 $99.90 $121.24 $188.10 $216.50 $267.31 42.56% <-Total Growth 9 Bank Debt CDN$
Change -16.49% -3.04% -6.56% 8.74% 28.22% -23.85% 21.37% 55.15% 15.10% 23.47% 8.74% <-Median-> 9 Change CDN$
Debt/Market Cap Ratio 0.13 0.11 0.08 0.09 0.09 0.11 0.08 0.11 0.20 0.15 0.21 0.11 <-Median-> 10 Debt/Market Cap Ratio CDN$
Assets/Current Liabilities Ratio 8.91 11.10 10.46 9.16 7.39 5.10 5.27 4.68 5.11 4.57 5.40 6.33 <-Median-> 10 Assets/Current Liabilities Ratio CDN$
Current Liabilities/Assets Ratio 0.11 0.09 0.10 0.11 0.14 0.20 0.19 0.21 0.20 0.22 0.19
Debt to Cash Flow (Years) 1.48 1.10 1.27 1.08 0.76 1.16 0.72 1.80 2.03 1.24 1.47 1.20 <-Median-> 10 Debt to Cash Flow (Years) CDN$
Intangibles US$ $4.95 $14.26 $11.97 $5.41 $5.57 $6.26 $9.96 $23.40 $24.09 $23.65 $21.83 $23.60 $23.19 65.47% <-Total Growth 10 Intangibles US$
Goodwill $1.59 $1.63 $1.52 $1.40 $1.17 $1.21 $1.29 $1.19 $1.25 $1.27 $1.20 $1.23 $1.19 -32.90% <-Total Growth 10 Goodwill US$
Total $6.55 $15.89 $13.50 $6.80 $6.75 $7.47 $11.25 $24.59 $25.34 $24.92 $23.03 $24.82 $24.38 56.22% <-Total Growth 10 Total US$
Change 0.00% 142.62% -15.05% -49.60% -0.84% 11% 50.64% 118.50% 3.02% -1.62% -7.60% 7.78% -1.78% 1% <-Median-> 10 Change US$
Intangible/Market Cap Ratio 0.02 0.02 0.02 0.01 0.01 0.01 0.01 0.03 0.02 0.03 0.03 0.02 0.03 2% <-Median-> 10 Intangible/Market Cap Ratio US$
Intangibles CDN$ $4.93 $15.17 $13.89 $7.49 $7.49 $7.86 $13.59 $30.40 $30.67 $29.99 $29.57 $31.21 $32.14 105.77% <-Total Growth 10 Intangibles CDN$
Goodwill $1.62 $1.62 $1.62 $1.62 $1.62 $1.62 $1.62 $1.62 $1.62 $1.62 $1.62 $1.62 $1.64 0.03% <-Total Growth 10 Goodwill CDN$
Total $6.55 $16.79 $15.51 $9.11 $9.11 $9.48 $15.21 $32.02 $32.29 $31.61 $31.19 $32.83 $33.78 95.56% <-Total Growth 10 Total CDN$
Change 156.27% -7.60% -41.29% 0.00% 4% 60.48% 110.48% 0.85% -2.12% -1.31% 5.25% 2.91% 0.42% <-Median-> 10 Change CDN$
Intangible/Market Cap Ratio 0.02 0.02 0.02 0.01 0.01 0.01 0.01 0.03 0.02 0.03 0.03 0.02 0.03 0.02 <-Median-> 10 Intangible/Market Cap Ratio CDN$
Current Assets US$ $61.22 $69.82 $99.19 $123.07 $89.48 $122.84 $134.39 $165.00 $168.20 $148.22 $145.03 $181.66 $199.53 $201.47 101.16% <-Total Growth 10 Assets US$
Current Liabilities $22.15 $25.66 $41.04 $42.98 $29.07 $32.63 $43.61 $59.86 $100.92 $92.82 $102.21 $104.33 $138.41 $121.91 237.24% <-Total Growth 10 Liabilities US$
Liquidity Ratio 2.76 2.72 2.42 2.86 3.08 3.76 3.08 2.76 1.67 1.60 1.42 1.74 1.44 1.65 2.25 <-Median-> 10 Ratio US$
Curr Long Term Debt 33.83 33.83 4.15
Assets US$ $180.79 $226.74 $313.93 $382.98 $322.58 $341.36 $399.64 $442.67 $515.06 $489.23 $478.31 $533.00 $633.01 $657.83 Debt Ratio of 1.5 and up, best Current Ratio US$
Liabilities $92.91 $86.31 $153.09 $189.68 $129.27 $133.52 $145.76 $174.01 $260.46 $231.20 $256.51 $310.15 $388.02 $408.42 2.07 <-Median-> 10 Ratio US$
Debt Ratio 1.95 2.63 2.05 2.02 2.50 2.56 2.74 2.54 1.98 2.12 1.86 1.72 1.63 1.61 1.86 <-Median-> 5 Ratio US$
Estimates BVPS $8.07 $9.82 Estimates Estimates BVPS
Estimate Book Value $278.1 $338.6 Estimates Estimate Book Value
P/B Ratio (Close) 3.24 2.66 Estimates P/B Ratio (Close)
Difference from 10 year median -8.92% Diff M/C Estimates Difference from 10 yr med.
Check on BV $254.597 $258.026 $221.803
Book Value US$ $87.887 $140.424 $160.840 $193.301 $193.311 $207.843 $253.881 $268.657 $254.597 $258.026 $221.803 $222.847 $244.994 $249.415 $249.415 $249.415 52.32% <-Total Growth 10 Book Value US$
Book Value per share $2.71 $3.80 $4.34 $5.22 $5.21 $5.60 $6.84 $7.36 $7.29 $7.40 $6.43 $6.46 $7.11 $7.23 $7.23 $7.23 63.64% <-Total Growth 10 Book Value per Share US$
Increase 11.14% 40.17% 14.37% 20.18% -0.17% 7.52% 22.15% 7.52% -0.92% 1.55% -13.09% 0.47% 9.94% 1.80% 0.00% 0.00% 6.29% P/B Ratio Current/Historical Median US$
P/B Ratio (Median) 2.34 2.24 4.35 6.05 3.75 3.55 3.16 2.90 4.23 3.01 4.60 3.38 3.56 3.95 3.40 P/B Ratio Historical Median US$
P/B Ratio (Close) 2.58 2.54 6.12 4.62 3.38 4.34 3.16 3.15 3.80 3.96 3.83 3.02 4.22 3.61 3.61 3.61 5.05% <-IRR #YR-> 10 Book Value per Share 63.64% US$
Change 0.78% -1.55% 140.58% -24.43% -26.96% 28.41% -27.10% -0.29% 20.38% 4.38% -3.22% -21.33% 39.94% -14.48% 0.00% 0.00% -0.69% <-IRR #YR-> 5 Book Value per Share -3.41% US$
Leverage (A/BK) 2.06 1.61 1.95 1.98 1.67 1.64 1.57 1.65 2.02 1.90 2.16 2.39 2.58 2.64 2.16 <-Median-> 5 A/BV US$
Debt/Equity Ratio 1.06 0.61 0.95 0.98 0.67 0.64 0.57 0.65 1.02 0.90 1.16 1.39 1.58 1.64 1.16 <-Median-> 5 Debt/Eq Ratio US$
Shareholders' Equity (Assets less Liabilities) P/BV 10 yr Med 3.55 5 yr Med 3.56 1.56% Diff M/C 1.90 Historical Leverage (A/BK) US$
-$4.34 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $7.11
-$7.36 $0.00 $0.00 $0.00 $0.00 $7.11
Current Assets CDN$ $62.27 $69.46 $105.50 $142.77 $123.91 $164.94 $168.59 $225.10 $218.46 $188.72 $183.88 $246.03 $263.90 $279.2 150.15% <-Total Growth 10 Current Assets CDN$
Current Liabilities $22.52 $25.53 $43.65 $49.86 $40.26 $43.81 $54.71 $81.66 $131.07 $118.18 $129.59 $141.31 $183.07 $168.9 319.37% <-Total Growth 10 Current Liabilities CDN$
Liquidity Ratio 2.76 2.72 2.42 2.86 3.08 3.76 3.08 2.76 1.67 1.60 1.42 1.74 1.44 1.65 2.25 <-Median-> 10 Ratio CDN$
Liq. with CF aft div 3.75 4.04 3.45 4.28 5.09 5.25 4.40 4.17 2.38 2.60 1.77 2.26 2.26 2.59 2.26 <-Median-> 5 Ratio If Div = 0 CDN$
Liq. CF re  Inv+Div  1.43 1.29 1.16 1.58 2.97 3.82 2.01 2.27 1.37 1.83 1.33 1.59 1.43 2.59 1.43 <-Median-> 5 Ratio CDN$
Curr Long Term Debt $32.47 $31.83 $31.70 $45.82 $44.74 $5.76
Liquidity Less CLTD 2.22 2.19 1.88 2.58 1.91 1.71
Liq. with CF aft div 3.17 3.56 2.35 3.35 3.00 2.68
Assets CDN$ $183.87 $225.58 $333.90 $444.30 $446.69 $458.35 $501.35 $603.89 $668.96 $622.89 $606.41 $721.90 $837.22 $911.62 150.74% <-Total Growth 10 Assets CDN$
Liabilities $94.49 $85.87 $162.83 $220.05 $179.00 $179.28 $182.85 $237.39 $338.29 $294.37 $325.20 $420.07 $513.20 $565.98 215.17% <-Total Growth 10 Liabilities CDN$
Debt Ratio 1.95 2.63 2.05 2.02 2.50 2.56 2.74 2.54 1.98 2.12 1.86 1.72 1.63 1.61 2.07 <-Median-> 10 Ratio CDN$
Estimates BVPS $11.18 $13.61 Estimates Estimates BVPS
Estimate Book Value $385.4 $469.2 Estimates Estimate Book Value
P/B Ratio (Close) 3.28 2.69 Estimates P/B Ratio (Close)
Difference from 10 year median -4.71% Diff M/C Estimates Difference from 10 yr med.
Check on BV $301.82 $324.03 $345.64
Book Value $89.38 $139.71 $171.07 $224.25 $267.69 $279.07 $318.49 $366.50 $330.67 $328.52 $281.20 $301.82 $324.03 $345.64 $345.64 $345.639 89.41% <-Total Growth 10 Book Value CDN$
Book Value per share $2.76 $3.78 $4.62 $6.06 $7.22 $7.52 $8.58 $10.04 $9.47 $9.43 $8.16 $8.76 $9.40 $10.03 $10.03 $10.03 103.48% <-Total Growth 10 Book Value per Share CDN$
Increase 13.64% 37.12% 22.27% 31.09% 19.16% 4.25% 14.13% 16.93% -5.67% -0.45% -13.46% 7.33% 7.36% 6.67% 0.00% 0.00% 17.28% P/B Ratio Current/Historical Median CDN$
P/B Ratio (Median) 2.37 2.37 4.26 5.62 3.32 3.50 3.38 2.78 4.26 2.94 4.63 3.28 3.52 4.35 0.00 0.00 3.12 P/B Ratio Historical Median CDN$
P/B Ratio (Close) 2.64 2.72 6.15 4.37 3.38 4.27 3.17 3.21 3.71 4.03 3.90 3.05 4.33 3.65 3.65 3.65 7.36% <-IRR #YR-> 10 Book Value per Share 103.48% CDN$
Change 0.71% 2.95% 125.96% -29.00% -22.52% 26.09% -25.81% 1.48% 15.51% 8.72% -3.41% -21.87% 42.24% -15.62% 0.00% 0.00% -1.31% <-IRR #YR-> 5 Book Value per Share -6.36% CDN$
Leverage (A/BK) 2.06 1.61 1.95 1.98 1.67 1.64 1.57 1.65 2.02 1.90 2.16 2.39 2.58 2.64 2.16 <-Median-> 5 A/BV CDN$
Debt/Equity Ratio 1.06 0.61 0.95 0.98 0.67 0.64 0.57 0.65 1.02 0.90 1.16 1.39 1.58 1.64 1.16 <-Median-> 5 Debt/Eq Ratio CDN$
Shareholders' Equity (Assets less Liabilities) P/BV 10 yr Med 3.44 5 yr Med 3.52 6.26% Diff M/C 1.90 Historical Leverage (A/BK) CDN$
-$4.62 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $9.40
-$10.04 $0.00 $0.00 $0.00 $0.00 $9.40
$41.69 <-12 mths 4.58%
Comprehensive Income US$ $26.46 $26.95 $43.15 $57.33 $39.72 $19.09 $43.88 $63.07 $35.10 $16.23 -$9.43 $18.49 $39.86 -7.61% <-Total Growth 10 Comprehensive Income US$
Increase 41.79% 1.85% 60.09% 32.87% -30.71% -51.94% 129.85% 43.75% -44.35% -53.75% -158.11% 296.01% 115.60% -44.35% <-Median-> 5 Comprehensive Income US$
5 Yr Running Average $19.27 $21.27 $26.80 $34.51 $38.72 $37.25 $40.63 $44.62 $40.17 $35.47 $29.77 $24.69 $20.05 -0.79% <-IRR #YR-> 10 Comprehensive Income -7.61% US$
ROE 30.1% 19.2% 26.8% 29.7% 20.5% 9.2% 17.3% 23.5% 13.8% 6.3% -4.3% 8.3% 16.3% -8.77% <-IRR #YR-> 5 Comprehensive Income -36.80% US$
5Yr Median 28.6% 27.0% 26.8% 26.8% 26.8% 20.5% 20.5% 20.5% 17.3% 13.8% 13.8% 8.3% 8.3% -2.86% <-IRR #YR-> 10 5 Yr Running Average -25.19% US$
% Difference from Net Income 4.30% -4.40% 13.70% 25.25% 42.92% -11.35% -16.42% 26.87% -23.69% -16.50% -6.31% 1.09% -4.43% -14.78% <-IRR #YR-> 5 5 Yr Running Average -55.06% US$
Median Values Diff 5, 10 yr -5.4% -6.3% 8.3% <-Median-> 5 Return on Equity
-$43.1 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $39.9
-$63.1 $0.0 $0.0 $0.0 $0.0 $39.9
-$26.8 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $20.0
-$44.6 $0.0 $0.0 $0.0 $0.0 $20.0
Current Liability Coverage Ratio 1.94 1.99 1.60 2.02 1.88 2.28 2.17 1.99 1.20 1.03 0.56 0.96 1.08 1.08   CFO / Current Liabilities US$
5 year Median 2.21 1.99 1.99 1.99 1.94 1.99 2.02 2.02 1.99 1.99 1.20 1.03 1.03 1.03 1.54 <-Median-> 10 Current Liability Cov Ratio US$
Asset Efficiency Ratio 23.81% 22.54% 20.91% 22.62% 16.91% 21.79% 23.73% 26.91% 23.57% 19.59% 11.93% 18.87% 23.69% 20.00% CFO / Total Assets US$
5 year Median 23.81% 22.54% 22.49% 22.54% 22.54% 21.79% 21.79% 22.62% 23.57% 23.57% 23.57% 19.59% 19.59% 19.59% 22.2% <-Median-> 10 Return on Assets  US$
Return on Assets ROA 14.03% 12.43% 12.09% 11.95% 8.62% 6.31% 13.13% 11.23% 8.93% 3.97% -1.86% 3.43% 6.59% 7.81% Net  Income/Assets Return on Assets US$
5Yr Median 14.03% 13.04% 12.43% 12.09% 12.09% 11.95% 11.95% 11.23% 8.93% 8.93% 8.93% 3.97% 3.97% 3.97% 7.6% <-Median-> 10 Asset Efficiency Ratio US$
Return on Equity ROE 28.87% 20.08% 23.59% 23.68% 14.38% 10.36% 20.68% 18.50% 18.06% 7.53% -4.00% 8.21% 17.03% 20.59% Net Inc/ Shareholders' equity Return on Equity US$
5Yr Median 28.62% 26.96% 23.60% 23.60% 23.59% 20.08% 20.68% 18.50% 18.06% 18.06% 18.06% 8.21% 8.21% 8.21% 15.7% <-Median-> 10 Return on Equity US$
$41.62 <-12 mths -0.21%
Net Income US$ $25.37 $28.19 $37.95 $45.77 $27.79 $21.53 $52.49 $49.71 $45.99 $19.44 -$8.87 $18.29 $41.71 $51.35 $78.51 9.91% <-Total Growth 10 Net Income US$
Increase 35.94% 11.12% 34.60% 20.62% -39.28% -22.53% 143.78% -5.30% -7.49% -57.73% -145.65% 306.13% 128.05% 23.11% 52.89% EPS/CF Ratio should not be higher than 1.00 US$
5 Yr Running Average $19.0 $21.3 $25.8 $31.2 $33.0 $32.2 $37 $39 $40 $38 $32 $25 $23 $24 $36 0.95% <-IRR #YR-> 10 Net Income 9.91% US$
Operating Cash Flow $32.9 $46.4 $54.9 $72.6 $68.0 $58.9 $69.7 $98.5 $87.3 $109.4 $53.1 $68.3 $131.6 -3.45% <-IRR #YR-> 5 Net Income -16.09% US$
Investment Cash Flow -$36.75 -$54.16 -$86.28 -$84.94 -$28.66 -$16.42 -$65.16 -$68.38 -$97.03 -$49.45 -$42.70 -$59.95 -$106.64 -1.01% <-IRR #YR-> 10 5 Yr Running Average -9.62% US$
Total Accruals $29.2 $35.9 $69.3 $58.1 -$11.6 -$20.9 $48.0 $19.6 $55.7 -$40.5 -$19.3 $9.9 $16.7 -9.99% <-IRR #YR-> 5 5 Yr Running Average -40.93% US$
Total Assets $180.8 $226.7 $313.9 $383.0 $322.6 $341.4 $399.6 $442.7 $515.1 $489.2 $478.3 $533.0 $633.0 Balance Sheet Assets US$
Accruals Ratio 16.16% 15.84% 22.08% 15.18% -3.59% -6.13% 12.01% 4.42% 10.82% -8.27% -4.04% 1.86% 2.64% 1.86% <-Median-> 5 Ratio US$
EPS/CF Ratio (WC) 0.59 0.58 0.58 0.53 0.51 0.29 0.55 0.41 0.37 0.20 -0.16 0.18 0.28 0.33 <-Median-> 10 EPS/CF Ratio US$
-$37.9 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $41.7
-$49.7 $0.0 $0.0 $0.0 $0.0 $41.7
-$25.8 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $23.3
-$39.5 $0.0 $0.0 $0.0 $0.0 $23.3
Financial Cash Flow US$ -$5.27 $7.56 $8.11 $21.44 -$35.37 -$14.31 -$16.22 -$30.56 -$19.73 -$52.85 -$19.88 -$7.18 -$21.92 C F Statement  Financial Cash Flow CDN$
Total Accruals $34.49 $28.36 $61.21 $36.70 $23.77 -$6.63 $64.20 $50.15 $75.44 $12.36 $0.56 $17.09 $38.67 Accruals CDN$
Accruals Ratio 19.07% 12.51% 19.50% 9.58% 7.37% -1.94% 16.06% 11.33% 14.65% 2.53% 0.12% 3.21% 6.11% 3.21% <-Median-> 5 Ratio CDN$
Yes 0
$55.14 <-12 mths 2.13%
Comprehensive Income CDN$ $26.91 $26.81 $45.89 $66.51 $55.01 $25.63 $55.04 $86.04 $45.58 $20.67 -$11.96 $23.44 $53.99 17.64% <-Total Growth 10 Comprehensive Income CDN$
Increase 44.98% -0.36% 71.15% 44.93% -17.30% -53.40% 114.75% 56.32% -47.02% -54.66% -157.87% 296.01% 130.33% -47.02% <-Median-> 5 Comprehensive Income CDN$
5 Yr Running Average $20.17 $22.18 $27.57 $36.94 $44.23 $43.97 $49.62 $57.65 $53.46 $46.59 $39.07 $32.75 $26.34 1.64% <-IRR #YR-> 10 Comprehensive Income 17.64% CDN$
ROE 30.1% 19.2% 26.8% 29.7% 20.5% 9.2% 17.3% 23.5% 13.8% 6.3% -4.3% 7.8% 16.7% -8.90% <-IRR #YR-> 5 Comprehensive Income -37.25% CDN$
5Yr Median 28.6% 27.0% 26.8% 26.8% 26.8% 20.5% 20.5% 20.5% 17.3% 13.8% 13.8% 7.8% 7.8% -0.45% <-IRR #YR-> 10 5 Yr Running Average -4.44% CDN$
% Difference from Net Income 4.30% -4.40% 13.70% 25.25% 42.92% -11.35% -16.42% 26.87% -23.69% -16.50% -6.31% -5.38% -2.13% -14.50% <-IRR #YR-> 5 5 Yr Running Average -54.30% CDN$
Median Values Diff 5, 10 yr -5.8% -6.3% 7.8% <-Median-> 5 Return on Equity
-$45.9 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $54.0
-$86.0 $0.0 $0.0 $0.0 $0.0 $54.0
-$27.6 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $26.3
-$57.6 $0.0 $0.0 $0.0 $0.0 $26.3
Current Liability Coverage Ratio 1.94 1.99 1.60 2.02 1.88 2.28 2.17 1.99 1.20 1.03 0.56 0.96 1.08 1.08   CFO / Current Liabilities CDN$
5 year Median 2.21 1.99 1.99 1.99 1.94 1.99 2.02 2.02 1.99 1.99 1.20 1.03 1.03 1.03 1.54 <-Median-> 10 Current Liability Cov Ratio CDN$
Asset Efficiency Ratio 23.81% 22.54% 20.91% 22.62% 16.91% 21.79% 23.73% 26.91% 23.57% 19.59% 11.93% 18.87% 23.69% 20.00% CFO / Total Assets CDN$
5 year Median 23.81% 22.54% 22.49% 22.54% 22.54% 21.79% 21.79% 22.62% 23.57% 23.57% 23.57% 19.59% 19.59% 19.59% 22.2% <-Median-> 10 Return on Assets  CDN$
Return on Assets ROA 14.03% 12.43% 12.09% 11.95% 8.62% 6.31% 13.13% 11.23% 8.93% 3.97% -1.86% 3.43% 6.59% 7.81% Net  Income/Assets Return on Assets CDN$
5Yr Median 14.03% 13.04% 12.43% 12.09% 12.09% 11.95% 11.95% 11.23% 8.93% 8.93% 8.93% 3.97% 3.97% 3.97% 7.6% <-Median-> 10 Asset Efficiency Ratio CDN$
Return on Equity ROE 28.87% 20.08% 23.59% 23.68% 14.38% 10.36% 20.68% 18.50% 18.06% 7.53% -4.00% 8.21% 17.03% 20.59% Net Inc/ Shareholders' equity Return on Equity CDN$
5Yr Median 28.62% 26.96% 23.60% 23.60% 23.59% 20.08% 20.68% 18.50% 18.06% 18.06% 18.06% 8.21% 8.21% 8.21% 15.7% <-Median-> 10 Return on Equity CDN$
$55.05 <-12 mths -0.21%
Net Income CDN$ $25.80 $28.05 $40.36 $53.10 $38.49 $28.91 $65.85 $67.82 $59.73 $24.75 -$11.25 $24.77 $55.17 $71.2 $108.8 36.68% <-Total Growth 10 Net Income CDN$
Increase 39.01% 8.71% 43.90% 31.56% -27.52% -24.88% 127.77% 2.98% -11.92% -58.57% -145.45% 320.21% 122.70% 28.99% 52.89% EPS/CF Ratio should not be higher than 1.00 CDN$
5 Yr Running Average $19.9 $22.2 $26.5 $33.2 $37.2 $37.8 $45 $51 $52 $49 $41 $33 $31 $33 $50 3.17% <-IRR #YR-> 10 Net Income 36.68% CDN$
Operating Cash Flow $33.5 $46.2 $58.4 $84.2 $94.2 $79.1 $87.4 $134.4 $113.4 $139.3 $67.4 $92.5 $174.1 -4.04% <-IRR #YR-> 5 Net Income -18.65% CDN$
Investment Cash Flow -$37.37 -$53.88 -$91.77 -$98.54 -$39.68 -$22.05 -$81.74 -$93.29 -$126.03 -$62.96 -$54.13 -$81.2 -$141.0 1.47% <-IRR #YR-> 10 5 Yr Running Average 15.66% CDN$
Total Accruals $29.7 $35.7 $73.7 $67.4 -$16.1 -$28.1 $60.2 $26.7 $72.4 -$51.5 -$24.5 $13.4 $22.1 -9.63% <-IRR #YR-> 5 5 Yr Running Average -39.74% CDN$
Total Assets $183.9 $225.6 $333.9 $444.3 $446.7 $458.3 $501.3 $603.9 $669.0 $622.9 $606.4 $721.9 $837.2 Balance Sheet Assets CDN$
Accruals Ratio 16.16% 15.84% 22.08% 15.18% -3.59% -6.13% 12.01% 4.42% 10.82% -8.27% -4.04% 1.86% 2.64% 1.86% <-Median-> 5 Ratio CDN$
EPS/CF Ratio (WC) 0.59 0.58 0.58 0.53 0.51 0.29 0.55 0.41 0.37 0.20 -0.16 0.18 0.28 0.33 <-Median-> 10 EPS/CF Ratio CDN$
-$40.4 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $55.2
-$67.8 $0.0 $0.0 $0.0 $0.0 $55.2
-$26.5 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $30.6
-$50.8 $0.0 $0.0 $0.0 $0.0 $30.6
Change in Close 14.45% 41.17% 176.28% -6.93% -7.67% 31.45% -15.33% 18.65% 8.96% 8.22% -16.41% -16.14% 52.70% -10.00% 0.00% 0.00% Count 27 Years of data CDN$
up/down down down down down down up down down up Count 18 66.67% CDN$
Meet Prediction? yes % right Count 6 33.33% CDN$
Financial Cash Flow CDN$ -$5.36 $7.52 $8.62 $24.87 -$48.97 -$19.21 -$20.35 -$41.69 -$25.63 -$67.28 -$25.20 -$9.7 -$29.0 -436.27% <-Total Growth 10 Financial Cash Flow CDN$
Total Accruals $35.07 $28.21 $65.11 $42.57 $32.92 -$8.91 $80.54 $68.41 $97.98 $15.74 $0.72 $23.14 $51.14 Accruals CDN$
Accruals Ratio 19.07% 12.51% 19.50% 9.58% 7.37% -1.94% 16.06% 11.33% 14.65% 2.53% 0.12% 3.21% 6.11% 3.21% <-Median-> 5 Ratio CDN$
Yes 0
Cash US$ $2.578 $2.473 $8.107 $16.509 $21.956 $22.643 $36.752 $35.408 $6.776 $13.584 $4.137 $5.398 $8.513 $0.630 Cash US$
Cash per Share $0.08 $0.07 $0.22 $0.45 $0.59 $0.61 $0.99 $0.97 $0.19 $0.39 $0.12 $0.16 $0.25 $0.02 $0.19 <-Median-> 5 Cash per Share US$
Percentage of Stock Price 1.14% 0.69% 0.82% 1.85% 3.36% 2.51% 4.58% 4.18% 0.70% 1.33% 0.49% 0.80% 0.82% 0.07% 0.80% <-Median-> 5 % of Stock Price US$
Cash CDN$ $2.62 $2.46 $8.62 $19.15 $30.40 $30.40 $46.11 $48.30 $8.80 $17.30 $5.25 $7.31 $11.26 $0.873 Cash CDN$
Cash per Share $0.08 $0.07 $0.23 $0.52 $0.82 $0.82 $1.24 $1.32 $0.25 $0.50 $0.15 $0.21 $0.33 $0.03 $0.25 <-Median-> 5 Cash per Share CDN$
Percentage of Stock Price 1.11% 0.65% 0.82% 1.96% 3.36% 2.55% 4.57% 4.10% 0.72% 1.30% 0.48% 0.80% 0.80% 0.07% 0.80% <-Median-> 5 % of Stock Price CDN$
Notes:
August 4, 2024.  Last estimates were for 2023 and 2024  for 906M, $995M CDN$ Revenue, $2.83, $3.48 US$ ACFFO, $1.67, $2.31 CDN$ EPS, 
$0.73, $0.75 CDN$ Dividends, $80.2M, $73.5M CDN$ FCF, $4.50, $4.27 CDN$ CFPS, $138.2, $155.3 US$ EBITDA, $9.58, $11.40 CDN$ BVPS, $57.5M, $79.6M CDN$ Net Income.
August 5, 2023.  Last estiamates were for 2022, and 2023 of $712M, and $787 for Revenue, $1.06 and $1.66 for EPS, $0.69 and $0.74 for Dividends, 
$9.5M and $19.2M for FCF, $3.08 and $3.19 for CFPS, and $36.6M and $57.5M for Net Income.
August 7, 2022.  Last estimates were for 2021, 2022 and 2023 of $554M, $658M and $740M for Revenue, $0.11, 1.59 abd $1.92 for EPS, $0.63, $0.63 and $0.63 for Dividends, 
$51.2M, $41.1M and $37M for FCF, $2.34 and $3.73 for 2021-22 for CFPS and $3.8M, $55.4M and $69.2M for Net Income.
August 7, 2021.  Last estimates were for 2020, 2021 and 2022 of $589M, $684M and $748M for Revenue, $0.96, $1.86 and $2.00 for EPS $.60, $.60 and $0.60 for Dividends, 
$114M, $62.80M and $60.10M for FCF, $3.92, $4.21 and $4.71 for CFPS and $34.2 and $62.3 for Net Income for 2020 and 21.
May 5, 2021.  Company has changed name and symbol. Badger Daylighting Ltd to Badger Infrastructure Solutions Ltd. And symbol from BAD to BDGI
August 15, 2020.  Last estimates were for 2019, 2020 and 2021 of $688M, $785M and $853M for Revenuye, $1.79, $2.70 and $3.15 for EPS, 
$3.53, $4.81 and $5.67 for Cash Flow per Share, and $68.5M, $96.7M and $110M for Net Income.
August 17, 2019.  Last estimate were for 2018, 2019 and 2020 of $585M, $642M and $725M for Revenue, $1.62, $1.98 and $2.05 for EPS, 
$3.25 and $3.56 for CFPS for 2018 and 2019, $58.5M, $74.3M and $76.2M for Net Income.
August 19, 2018.  Last estimates were for 2017, 2018 and 2019 of $485M, $525M and $536M for Revenue, $1.19, $1.56 and $1.89 for EPS, 
$2.23 and $2.36 for CFPS for 2017 and 2018, $44.3M, $58.8M and $60M for Net Income.
August 27, 2017.  Last estimates were for 2016, 2017 and 2018 of $394M, $437M and $463M for Revenue, $0.87 and $1.32 and $1.55 for EPS, 
$2.03 and 2.37 for CFPS for 2016 and 2017 and $32.7M, $47.6M and $53.8M for Net Income.
August 28, 2016.  Last estimates were for 2015 and 2016 of $396M and $437M for Revenue, $0.65 and $1.36 for EPS, $2.81 for CFPS for 2015 and $24.07 and $50.37 for Net Income.
September 6, 2015.  Last estimates were for 2014, 2015 and 2016 of $427M, $498M and $588M for Revenue, $1.27, $1.52 and $1.86 for EPS,
 $2.28 and $2.81 for CFPS for 2014 and 2015, $47M, 56.2M and $68.8M for Net Income.
August 30, 2014.  Last estimates were for 2013, 2014 and 2015 of $301M, $354M and $386M for Revenue, $2.96, $3.47 and $3.62 for EPS, $5.32 and $7.73 for CPFS for 2013 and 2014.
August 19, 2013.  Last estimates were for 2012 and 2013 with $228.9M and $241.0M for Revenue, $2.58, $2.67 and $2.46 for EPS.
Used to be Badger Income Fund (TSX-BAD.UN).  December 31, 2010 the company was effectively changed to Badger Daylighting Ltd.
The 2006 annual report showed different distributions than Yahoo did.  Could be Yahoo did not account for 2004 split as most disagreement was with 2004.
However, some disagreement with 2005.  I used info from 2006 annual report.
In 2004 in changing from an corporation to a trust company, the company issued shares on a 1:2 basis, effectively doing a reverse split of the shares.
Trading Symbol “BAD.UN” to BAD annouced in January 2011.
The company was founded in 1992 as an income trust.
Sector:
Construction, Industrial
What should this stock accomplish?
Would I buy this company and Why.
Yes because it is becoming a dividend growth stock. 
Why am I following this stock. 
I started to follow this stock after reading a couple of articles in February 2012 in the G&M that talked about the company.  The first article looked at what the pros who manage small-cap funds are buying.  
Badger was one of 10 stocks mentioned and it looked like an interesting stock.  It is a dividend paying small cap.  The second article looked at why stocks might appeal to a conservative investor looking for income.
Dividends
In 2022, Dividends are now paid quarterly, of January, April, July and October. Dividends are declared for shareholders of record of one month and paid in the following month.
For example, the April 15, 2022 dividend was declared on March 30,2022 for shareholders of record of March 31, 2022 and payble on April 15, 2022
Dividends are paid monthly.  Dividends are declared for shareholders of record of one month and paid in the following month.
For example, the August 2014 monthly dividend was declared on August 14, 2014 for shareholders of record of August 29, 2014 and is payable on September 15, 2014.
How they make their money.
Badger Infrastructure Solutions Ltd is North America's provider of non-destructive excavating services. Its key technology is the Badger Hydrovac, which is used predominantly 
for safe excavation around critical infrastructure and in congested underground conditions. Badger's two reportable segments are Canada and the United States which is the key revenue generating market.
For most ratios, lower is better when looking for a good stock price.  However, there are exceptions such as for yield (dividends and erarnings) 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.
Some Small Cap dividend payers to review from
http://www.theglobeandmail.com/globe-investor/investment-ideas/number-cruncher/a-small-cap-strategy-that-pays-dividends/article2348317/
This stock also came out on a list of entitle an alluring mix of stability and profits at G&M
http://www.theglobeandmail.com/globe-investor/investment-ideas/number-cruncher/an-alluring-mix-of-stability-and-profits/article2333323/" 
CDN$ CDN$
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 Aug 27 2017 Aug 19 2018 Aug 17 2019 Aug 15 2020 Aug 7 2021 Aug 7 2022 Aug 5 2023 Aug 4 2024
Blackadar, Robert George 0.019 0.06% 0.039 0.11% 0.046 0.13% new in 2022 17.37%
CEO - Shares - Amount $0.511 $1.594 $1.684
Options - percentage 0.058 0.17% 0.111 0.32% 0.153 0.44% 37.41%
Options - amount $1.544 $4.533 $5.606
Vanderberg, Paul James 0.04% 0.058 0.16% 0.062 0.17% 0.072 0.20% 0.091 0.26% 0.091 0.26% 0.091 0.26% Ceased insider Oct 22
CEO - Shares - Amount $0.417 $1.576 $1.983 $2.513 $3.442 $2.877 $2.413
Options - percentage 0.00% 0.077 0.21% 0.113 0.31% 0.095 0.27% 0.146 0.42% 0.171 0.49% 0.238 0.69%
Options - amount $0.000 $2.083 $3.651 $3.342 $5.561 $5.420 $6.351
Dawson, Robert 0.004 0.01% 0.006 0.02% new in 2023 40.00%
CFO - Shares - Amount $0.163 $0.205
Options - percentage 0.022 0.06% 0.044 0.13% 97.43%
Options - amount $0.906 $1.611
Yaworsky, Darren Julian 0.000 0.00% 0.010 0.03% 0.010 0.03% 0.010 0.03% Ceased insider Dec 2022
CFO - Shares - Amount $0.000 $0.381 $0.318 $0.267
Options - percentage 0.025 0.07% 0.061 0.18% 0.080 0.23% 0.116 0.34%
Options - amount $0.863 $2.321 $2.539 $3.087
Peterson, Elizabeth 0.006 0.02% 0.006 0.02% 0.006 0.02% Ceased insider Jan 2024
Officer - Shares - Amount $0.184 $0.154 $0.236
Options - percentage 0.047 0.14% 0.067 0.20% 0.094 0.27%
Options - amount $1.499 $1.794 $3.839
Bhatia, Pramod 0.002 0.00% 0.002 0.00% 0.000 0.00% 0.000 0.00% 0.005 0.01% last report May 2024 #DIV/0!
Officer - Shares - Amount $0.057 $0.048 $0.000 $0.000 $0.181
Options - percentage 0.008 0.02% 0.013 0.04% 0.029 0.08% 0.039 0.11% 0.070 0.20% 79.87%
Options - amount $0.312 $0.402 $0.779 $1.586 $2.568
Lee, Julie 0.000 0.00% 0.001 0.00% #DIV/0!
Officer - Shares - Amount $0.000 $0.024
Options - percentage 0.013 0.04% 0.030 0.09% 121.93%
Options - amount $0.549 $1.096
Bronicheski, David John 0.010 0.03% 0.011 0.03% 0.011 0.03% 0.011 0.03% 0.00%
Director - Shares - Amount $0.327 $0.293 $0.448 $0.403
Options - percentage 0.005 0.01% 0.015 0.04% 0.034 0.10% 0.037 0.11% 8.15%
Options - amount $0.157 $0.398 $1.379 $1.342
Cuskley, Stephanie
Director - Shares - Amount
Options - percentage
Options - amount
Bronicheski, David
Director - Shares - Amount
Options - percentage
Options - amount
Derwin, William 0.005 0.01% 0.005 0.01% 0.005 0.01% 0.00%
Director - Shares - Amount $0.133 $0.204 $0.183
Options - percentage 0.025 0.07% 0.057 0.16% 0.060 0.18% 6.88%
Options - amount $0.679 $2.303 $2.215
Jones, Stephen J. 0.000 0.00% 0.006 0.02% #DIV/0!
Chairman - Shares - Amt $0.000 $0.202
Options - percentage 0.020 0.06% 0.025 0.07% 22.38%
Options - amount $0.826 $0.909
Roane, Glen Dawson 0.13% 0.071 0.19% 0.081 0.22% 0.037 0.11% 0.058 0.17% 0.053 0.15% 0.103 0.30% 0.133 0.39% Ceased insider May 2024 -100.00%
Chairman - Shares - Amt $1.605 $1.922 $2.603 $1.314 $2.221 $1.698 $2.757 $5.431
Options - percentage 0.10% 0.043 0.11% 0.050 0.14% 0.054 0.15% 0.059 0.17% 0.064 0.18% 0.070 0.20% 0.146 0.42% -100.00%
Options - amount $1.180 $1.159 $1.607 $1.882 $2.252 $2.022 $1.855 $5.932
Watson, George???
Chairman - Shares - Amt
Options - percentage
Options - amount
Increase in O/S Shares 0.18% 0.000 0.00% 0.000 0.00% 0.041 0.11% 0.180 0.52% 0.139 0.40% 0.279 0.81% 0.310 0.90% 0.315 0.91% Find Share-based plans
due to SO  $1.631 $0.000 $0.000 $1.317 $6.329 $5.269 $8.863 $8.272 $12.831
Book Value $1.780 $0.000 $0.000 $1.288 $11.039 $4.575 $9.054 $6.635 $13.200 Share based plans  paid CF
Insider Buying -$0.936 -$2.100 -$0.934 -$3.032 -$2.050 -$1.193 -$3.068 -$3.068 -$2.209
Insider Selling $0.246 $0.000 $0.029 $3.343 $0.034 $1.527 $0.395 $0.883 $5.595
Net Insider Selling -$0.691 -$2.100 -$0.905 $0.311 -$2.016 $0.333 -$2.673 -$2.185 $3.386
% of Market Cap -3.05% -9.72% -4.51% 1.08% -9.37% 0.98% -8.46% -5.74% 8.90%
Directors 7 7 8 9 9 9 10 9
Women 14% 1 14% 1 14% 2 25% 2 22% 2 22% 3 33% 3 30% 3 33%
Minorities 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0%
Institutions/Holdings 72.57% 77 74.81% 78 69.39% 94 56.37% 20 29.31% 20 38.82% 20 22.05% 20 40.21%
Total Shares Held 72.57% 27.756 74.81% 25.744 70.51% 20.211 57.87% 10.215 29.63% 13.384 38.82% 7.602 22.05% 13.862 40.21%
Increase/Decrease 8.16% 0.483 1.77% -0.929 -3.48% -0.401 -1.95% -0.309 -2.93% 0.722 5.70% -0.031 -0.40% 0.073 0.53%
Starting No. of Shares 27.273 26.672 20.612 10.524 12.662 7.632 13.790
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