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. Q2 2025
See my website on stocks or see my blog at the following sites.  https://spbrunner.com/stocks.html https://spbrunner.blogspot.com/ 6/30/25
Cenovus Energy Inc TSX: CVE NYSE: CVE https://www.cenovus.com/ Fiscal Yr: Dec 31
Year 12/31/12 12/31/13 12/31/14 12/31/15 12/31/16 12/31/17 12/31/18 12/31/19 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 12/31/25 12/31/26 12/31/27 Value Description #Y Item Total G
Accounting Rules IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS Accounting Rules
Currency Exchange Rate 0.9968 1.0636 1.1601 1.3847 1.3427 1.2545 1.3642 1.2988 1.2732 1.2678 1.3544 1.3226 1.4389 1.4014 1.4014 1.4014
Reporting Currency
split
AEC to ECA
$36,830 <-12 mths -2.36%
Revenue before Royalties US$ $17,284 $17,857 $17,332 $9,538 $9,147 $13,802 $15,679 $16,441 $10,675 $38,501 $52,987 $41,943 $40,118 131.47% <-Total Growth 10 Revenue before Royalties
Rev US$ pre 09
Revenue  US$ $16,896 $17,541 $16,931 $9,434 $9,037 $13,585 $15,279 $15,538 $10,389 $36,565 $49,392 $39,471 $37,721 $38,046 $35,263 $46,790 122.79% <-Total Growth 10 Revenue
Increase 9.94% 3.82% -3.48% -44.28% -4.21% 50.33% 12.47% 1.69% -33.14% 251.97% 35.08% -20.09% -4.43% 0.86% -7.32% 32.69% 8.34% <-IRR #YR-> 10 Revenue 122.79%
5 year Running Average $14,101 $14,690 $15,883 $15,234 $13,968 $13,306 $12,853 $12,575 $12,766 $18,271 $25,433 $30,271 $34,708 $40,239 $39,979 $39,458 19.41% <-IRR #YR-> 5 Revenue 142.76%
Revenue per Share $22.35 $23.20 $22.36 $11.32 $10.84 $11.06 $12.43 $12.64 $8.45 $18.27 $25.87 $21.09 $20.67 $20.85 $19.32 $25.64 8.13% <-IRR #YR-> 10 5 yr Running Average 118.52%
Increase 9.48% 3.79% -3.61% -49.37% -4.21% 1.95% 12.47% 1.69% -33.14% 116.13% 41.59% -18.49% -1.98% 0.9% -7.3% 32.7% 22.51% <-IRR #YR-> 5 5 yr Running Average 176.01%
5 year Running Average $18.73 $19.48 $21.04 $19.93 $18.02 $15.76 $13.60 $11.66 $11.09 $12.57 $15.54 $17.27 $18.87 $21.35 $21.56 $21.51 -0.78% <-IRR #YR-> 10 Revenue per Share -7.58%
P/S (Price/Sales) Med 1.54 1.34 1.10 1.44 1.20 1.00 0.73 0.71 0.72 0.53 0.72 0.86 0.89 0.69 0.00 0.00 10.33% <-IRR #YR-> 5 Revenue per Share 63.46%
P/S (Price/Sales) Close 1.50 1.23 0.92 1.09 1.40 0.83 0.57 0.80 0.71 0.67 0.75 0.79 0.73 0.82 0.88 0.67 -1.08% <-IRR #YR-> 10 5 yr Running Average -10.30%
Revenue Net of Royalities in $M US$ P/S Med 20 yr  1.00 15 yr  1.00 10 yr  0.80 5 yr  0.72 3.01% Diff M/C 10.11% <-IRR #YR-> 5 5 yr Running Average 61.83%
-$16,931 $0 $0 $0 $0 $0 $0 $0 $0 $0 $37,721
-$15,538 $0 $0 $0 $0 $37,721
-$15,883 $0 $0 $0 $0 $0 $0 $0 $0 $0 $34,708
-$12,575 $0 $0 $0 $0 $34,708
-$22.36 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $20.67
-$12.64 $0.00 $0.00 $0.00 $0.00 $20.67
-$21.04 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $18.87
-$11.66 $0.00 $0.00 $0.00 $0.00 $18.87
$51,613 <-12 mths -4.91%
Intersegment Sales $8,234 $8,970 First in 2024
8.94%
Revenue before Royalties CDN$ $17,229 $18,993 $20,107 $13,207 $12,282 $17,314 $21,389 $21,353 $13,591 $48,811 $71,765 $55,474 $57,726 187.09% <-Total Growth 10 Revenue before Royalties
Change 6.45% 10.24% 5.87% -34.32% -7.00% 40.97% 23.54% -0.17% -36.35% 259.14% 47.03% -22.70% 4.06% 1.9% <-Median-> 10
Rev* CDN Pre 09
Revenue less Royalities* CDN $16,842 $18,657 $19,642 $13,064 $12,134 $17,043 $20,844 $20,181 $13,227 $46,357 $66,897 $52,204 $54,277 $53,318 $49,417 $65,571 176.33% <-Total Growth 10 Revenue
Change 7.30% 10.78% 5.28% -33.49% -7.12% 40.46% 22.30% -3.18% -34.46% 250.47% 44.31% -21.96% 3.97% -1.8% -7.3% 32.7% 10.70% <-IRR #YR-> 10 Revenue 176.33%
5 year Running Average $14,912 $15,071 $16,696 $16,780 $16,068 $16,108 $16,545 $16,653 $16,686 $23,530 $33,501 $39,773 $46,592 $54,611 $55,223 $54,957 21.88% <-IRR #YR-> 5 Revenue 168.95%
Revenue per Share $22.28 $24.68 $25.94 $15.68 $14.56 $13.87 $16.96 $16.42 $10.76 $23.16 $35.04 $27.89 $29.74 $29.21 $27.08 $35.93 10.81% <-IRR #YR-> 10 5 yr Running Average 179.07%
Increase 6.85% 10.75% 5.13% -39.57% -7.12% -4.75% 22.30% -3.18% -34.46% 115.21% 51.26% -20.41% 6.64% -1.77% -7.32% 32.69% 22.85% <-IRR #YR-> 5 5 yr Running Average 179.78%
5 year Running Average $19.81 $19.99 $22.11 $21.89 $20.63 $18.95 $17.40 $15.50 $14.52 $16.24 $20.47 $22.66 $25.32 $29.01 $29.79 $29.97 1.38% <-IRR #YR-> 10 Revenue per Share 14.63%
P/S (Price/Sales) Med 1.57 1.27 1.04 1.32 1.28 1.06 0.69 0.73 0.74 0.51 0.67 0.89 0.84 0.69 0.00 0.00 12.61% <-IRR #YR-> 5 Revenue per Share 81.09%
P/S (Price/Sales) Close 1.49 1.23 0.92 1.12 1.39 0.83 0.57 0.80 0.72 0.67 0.75 0.96 0.73 0.82 0.88 0.67 1.36% <-IRR #YR-> 10 5 yr Running Average 14.51%
*Revenue Net of Royalities CDN $M (ACE to end 2001) P/S Med 20 yr  1.27 15 yr  1.04 10 yr  0.79 5 yr  0.74 3.89% Diff M/C 10.31% <-IRR #YR-> 5 5 yr Running Average 63.36%
-$19,642 $0 $0 $0 $0 $0 $0 $0 $0 $0 $54,277
-$20,181 $0 $0 $0 $0 $54,277
-$16,696 $0 $0 $0 $0 $0 $0 $0 $0 $0 $46,592
-$16,653 $0 $0 $0 $0 $46,592
-$25.94 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $29.74
-$16.42 $0.00 $0.00 $0.00 $0.00 $29.74
-$22.11 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $25.32
-$15.50 $0.00 $0.00 $0.00 $0.00 $25.32
$7,292 <-12 mths -10.68%
$3.97 <-12 mths -9.36%
AFFO Amount* CDN$ $3,643 $4,484 $3,479 $1,691 $1,423 $2,914 $1,674 $3,702 $147 $7,248 $10,978 $8,803 $8,164 $8,595 $8,551 -100.00% <-Total Growth 10 AFFO Amount*
AFFO per Share Basic* $4.82 $5.93 $4.60 $2.07 $1.71 $2.64 $1.36 $3.01 $0.12 $0.59 $5.63 $4.64 $4.41 AFFO per Share Basic*
AFFO per Share Diluted* $4.80 $4.76 $4.59 $2.07 $1.71 $2.64 $1.36 $3.01 $0.12 $3.54 $5.47 $4.57 $4.38 $4.73 $4.96 -4.58% <-Total Growth 10 AFFO per Share Diluted* -0.46%
Increase 11.11% -0.83% -3.57% -54.90% -17.39% 54.39% -48.48% 121.32% -96.01% 2850.00% 54.52% -16.45% -4.16% 7.99% 4.86% 10 0 10 Years of Data, AFFP, P or N 100.00%
5 year Running Average $4.33 $4.11 $3.59 $3.15 $2.47 $2.16 $1.77 $2.13 $2.70 $3.34 $3.62 $4.54 $4.82 -0.47% <-IRR #YR-> 10 AFFO -100.00%
AFFO Yield 14.42% 15.66% 19.15% 11.83% 8.42% 23.00% 14.17% 22.80% 1.55% 22.82% 20.82% 17.05% 20.10% 19.78% 20.74% 7.79% <-IRR #YR-> 5 AFFO -100.00%
Payout Ratio 18.33% 20.34% 23.20% 41.18% 11.70% 7.58% 14.71% 7.06% 52.08% 2.47% 6.40% 11.49% 15.53% 16.49% 16.13% -43.70% <-IRR #YR-> 9 5 yr Running Average 4.97%
5 year Running Average 16.44% 18.62% 16.78% 16.54% 15.90% 17.59% 10.47% 13.21% -37.79% <-IRR #YR-> 5 5 yr Running Average -11.85%
P/AFFO Med 7.27 6.56 5.88 10.03 10.87 5.58 8.60 4.00 66.04 3.37 4.32 5.43 5.70 4.28 0.00 5.64 <-Median-> 10 P/AFFO Med
P/AFFO High 8.19 7.10 7.56 12.36 12.43 7.75 10.76 4.65 113.17 4.67 5.66 6.35 6.81 5.36 0.00 7.28 <-Median-> 10 P/AFFO High
P/AFFO Low 6.36 6.03 4.20 7.69 9.31 3.41 6.43 3.34 18.92 2.07 2.98 4.52 4.59 3.20 0.00 4.55 <-Median-> 10 P/AFFO Low
P/AFFO Close 6.94 6.39 5.22 8.45 11.87 4.35 7.06 4.39 64.58 4.38 4.80 5.86 4.97 5.05 4.82 5.42 <-Median-> 10 P/AFFO Close
Trailing P/AFFO Close 5.04 3.81 9.81 6.71 3.64 9.71 2.57 129.25 7.42 4.90 4.77 5.46 5.05 5.81 <-Median-> 10 Trailing P/AFFO Close
Median Values Historical   in order 6.56 7.75 6.03 6.39 P/AFFP 5 Yrs   in order 5.43 6.35 4.52 4.97 -6.98% Diff M/C DPR 75% to 95% best
* Adjusted Funds Flow
-$4.59 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.38
-$3.01 $0.00 $0.00 $0.00 $0.00 $4.38
-$4.11 $0.00 $0.00 $0.00 $0.00 -$1.77 $0.00 $0.00 $0.00 $0.20
-$2.16 $0.00 $0.00 $0.00 $0.00 $0.20
$2,075 <-12 mths -34.11%
$1.09 <-12 mths -35.52%
FFO Amount* CDN$ $3,643 $4,484 $3,479 $1,691 $1,423 $2,914 $1,674 $2,494 -$724 $4,685 $7,270 $4,505 $3,149 -9.49% <-Total Growth 10 FFO Amount*
FFO per Share* $4.80 $4.76 $4.59 $2.07 $1.64 $2.64 $1.36 $2.03 -$0.59 $2.32 $3.62 $2.34 $1.69 $3.14 -63.18% <-Total Growth 10 FFO per Share* -6.32%
Increase 11.11% -0.83% -3.57% -54.90% -20.65% 60.91% -48.47% 48.96% -129.04% 494.42% 55.96% -35.44% -27.77% 85.79% 9 1 10 Years of Data, AFFP, P or N 90.00%
5 year Running Average $4.33 $4.11 $3.57 $3.14 $2.46 $1.95 $1.42 $1.55 $1.75 $1.95 $1.88 $2.62 -9.51% <-IRR #YR-> 10 FFO -9.49%
FFO Yield 14.42% 15.66% 19.15% 11.83% 8.09% 23.02% 14.19% 15.37% -7.60% 14.98% 13.80% 8.73% 7.76% 13.13% -3.59% <-IRR #YR-> 5 FFO 26.26%
Payout Ratio 18.33% 20.34% 23.20% 41.18% 12.18% 7.57% 14.69% 10.48% -10.61% 3.77% 9.66% 22.44% 40.23% 24.84% -54.97% <-IRR #YR-> 9 5 yr Running Average -59.50%
5 year Running Average 12.74% 16.81% 21.45% 24.68% 23.04% 20.89% 19.76% 17.22% 6.86% 5.18% 5.60% 7.15% 13.10% 20.19% -47.52% <-IRR #YR-> 5 5 yr Running Average -49.53%
Price/FFO Median 7.27 6.56 5.88 10.03 11.32 5.57 8.58 5.93 -13.45 5.13 6.52 10.61 14.77 6.45 7.55 <-Median-> 10 Price/FFO Median
Price/FFO High 8.19 7.10 7.56 12.36 12.94 7.74 10.75 6.91 -23.05 7.11 8.54 12.41 17.64 8.08 9.65 <-Median-> 10 Price/FFO High
Price/FFO Low 6.36 6.03 4.20 7.69 9.69 3.41 6.42 4.95 -3.85 3.15 4.49 8.82 11.90 4.82 5.68 <-Median-> 10 Price/FFO Low
Price/FFO Close 6.94 6.39 5.22 8.45 12.36 4.34 7.05 6.51 -13.15 6.67 7.25 11.45 12.89 7.61 7.15 <-Median-> 10 Price/FFO Close
Trailing P/FFO Close 7.71 6.33 5.04 3.81 9.81 6.99 3.63 9.69 3.82 -26.33 11.31 7.40 9.31 14.15 7.19 <-Median-> 10 Trailing P/FFO Close
Median Values Historical   in order 7.27 8.54 6.36 7.05 P/FFO 5 Yrs   in order 6.52 8.54 4.49 7.25 16.85% Diff M/C DPR 75% to 95% best
* Free Funds Flow
-$4.59 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.69
-$2.03 $0.00 $0.00 $0.00 $0.00 $1.69
-$4.11 -$3.57 -$3.14 -$2.46 -$1.95 $0.00 $0.00 $0.00 $0.00 $0.08
-$1.95 $0.00 $0.00 $0.00 $0.00 $0.08
$1.03 <-12 mths 472.39%
pre split 2005
EPS* US$ pre 09
EPS Basic US$ $1.32 $0.83 $0.84 $0.54 -$0.48 $2.43 -$1.59 $1.37 -$1.52 $0.21 $2.43 $1.63 $1.17 38.21% <-Total Growth 10 EPS Basic
pre split 2005
EPS* US$ pre 09
EPS Diluted* US$ $1.31 $0.82 $0.84 $0.54 -$0.48 $2.43 -$1.59 $1.37 -$1.52 $0.21 $2.36 $1.60 $1.16 $1.36 $1.20 $1.58 37.39% <-Total Growth 10 EPS Diluted
Increase -31.17% -37.76% 3.27% -35.88% -189.38% 602.22% -165.43% 186.16% -211.18% 113.98% 1009.40% -32.16% -27.59% 17.12% -12.02% 32.28% 7 3 10 Years of Data, EPS P or N
Earnings Yield 3.9% 2.9% 4.1% 4.4% -3.2% 26.6% -22.6% 13.5% -25.2% 1.7% 12.2% 9.6% 7.7% 8.0% 7.0% 9.3% 3.23% <-IRR #YR-> 10 Earnings per Share 37.39%
5 year Running Average $1.89 $1.28 $1.24 $1.09 $0.61 $0.83 $0.35 $0.45 $0.04 $0.18 $0.17 $0.81 $0.76 $1.34 $1.54 $1.38 -3.27% <-IRR #YR-> 5 Earnings per Share -15.31%
10 year Running Average $1.88 $1.91 $1.88 $1.74 $1.37 $1.36 $0.81 $0.85 $0.56 $0.39 $0.50 $0.58 $0.61 $0.69 $0.86 $0.77 -4.75% <-IRR #YR-> 10 5 yr Running Average -67.56%
*Fully diluted EPS E/P 10 Yrs 6.02% 5Yrs 7.66% 10.96% <-IRR #YR-> 5 5 yr Running Average -28.24%
-$0.84 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.16
-$1.37 $0.00 $0.00 $0.00 $0.00 $1.16
-$1.24 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.76
-$0.45 $0.00 $0.00 $0.00 $0.00 $0.76
$1.44 <-12 mths -13.77%
pre split 2005
EPS* CDN$ pre 09
EPS Basic CND$ $1.32 $0.88 $0.98 $0.75 -$0.65 $3.05 -$2.17 $1.78 -$1.94 $0.27 $3.29 $2.15 $1.68 71.43% <-Total Growth 10 EPS Basic
pre stock exch 02
pre split 2005
EPS* CDN$ pre 09
EPS Diluted* CDN$ $1.31 $0.87 $0.98 $0.75 -$0.65 $3.05 -$2.17 $1.78 -$1.94 $0.27 $3.20 $2.12 $1.67 $1.91 $1.68 $2.22 70.41% <-Total Growth 10 EPS Diluted
Increase -32.82% -33.59% 12.64% -23.47% -186.67% 569.23% -171.15% 182.03% -208.99% 113.92% 1085.19% -33.75% -21.23% 14.07% -12.02% 32.28% 7 3 10 Years of Data, EPS P or N
Earnings Yield 3.9% 2.9% 4.1% 4.3% -3.2% 26.6% -22.6% 13.5% -25.0% 1.7% 12.2% 7.9% 7.7% 8.0% 7.0% 9.3% 5.47% <-IRR #YR-> 10 Earnings per Share 70.41%
5 year Running Average $2.07 $1.31 $1.29 $1.17 $0.65 $1.00 $0.39 $0.55 $0.01 $0.20 $0.23 $1.09 $1.06 $1.83 $2.11 $1.92 -1.27% <-IRR #YR-> 5 Earnings per Share -6.18%
10 year Running Average $2.09 $2.12 $2.07 $1.93 $1.48 $1.54 $0.85 $0.92 $0.59 $0.43 $0.61 $0.74 $0.81 $0.92 $1.16 $1.07 -1.88% <-IRR #YR-> 10 5 yr Running Average -17.26%
*Fully diluted EPS E/P 10 Yrs 5.97% 5Yrs 7.66% 14.03% <-IRR #YR-> 5 5 yr Running Average 92.75%
-$0.98 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.67
-$1.78 $0.00 $0.00 $0.00 $0.00 $1.67
-$1.29 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.06
-$0.55 $0.00 $0.00 $0.00 $0.00 $1.06
Dividend US$ $0.56 $0.60 $0.63 Estimates Dividend US$
Increase 19.29% 6.58% 5.58% Estimates Increase
Payout Ratio EPS 41.47% 50.24% 40.10% Estimates Payout Ratio EPS
Actual Special Dividend US$ $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.09 $0.00 $0.10
Actual US$ $0.87 $0.94 $0.95 $0.71 $0.15 $0.15 $0.15 $0.16 $0.06 $0.31 $0.26 $0.39 $0.49 218.52% <-Total Growth 10 Actual From CVE 
Special Dividends US$ $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.08 $0.00 $0.09 $0.00 $0.00 $0.00 $0.00 <-Median-> 10 Special Dividends
pre split 2005
Div US$ pre 09
Dividend US$ $0.88 $0.91 $0.92 $0.62 $0.15 $0.16 $0.15 $0.16 $0.05 $0.07 $0.26 $0.40 $0.47 $0.56 $0.57 $0.57 -48.51% <-Total Growth 10 Dividends
Increase 2.46% 3.09% 0.85% -32.93% -75.80% 7.03% -8.04% 11.60% -70.00% 40.60% 274.42% 53.61% 19.05% 17.78% 2.56% 0.00% 22 8 32 Years of data Count P, N
Average Increases 5 Year Running 22.65% 3.27% 3.82% -3.83% -20.47% -19.55% -21.78% -19.63% -27.04% -3.76% 49.72% 62.05% 63.54% 81.09% 73.48% 18.60% -11.69% <-Median-> 10 Average Incr 5 Year Running
Dividends 5 Yr Running $0.82 $0.84 $0.87 $0.84 $0.70 $0.55 $0.40 $0.25 $0.13 $0.12 $0.15 $0.20 $0.28 $0.39 $0.49 $0.53 -67.45% <-Total Growth 10 Dividends 5 Yr Running
Yield H/L Price 2.56% 2.94% 3.74% 3.77% 1.14% 1.44% 1.62% 1.83% 0.81% 0.71% 1.38% 2.18% 2.58% 3.88% 1.53% <-Median-> 10 Yield H/L Price
Yield on High  Price 2.23% 2.66% 2.82% 2.98% 0.91% 1.04% 1.31% 1.57% 0.47% 0.51% 1.05% 1.87% 2.17% 3.08% 1.18% <-Median-> 10 Yield on High  Price
Yield on Low Price 3.01% 3.28% 5.55% 5.13% 1.53% 2.34% 2.12% 2.18% 2.99% 1.20% 2.05% 2.62% 3.17% 5.26% 2.26% <-Median-> 10 Yield on Low Price
Yield on Close Price 2.63% 3.18% 4.45% 4.99% 0.98% 1.75% 2.09% 1.61% 0.81% 0.56% 1.33% 2.38% 3.12% 3.26% 3.34% 3.34% 1.68% <-Median-> 10 Yield on Close Price
Payout Ratio EPS 67.18% 111.26% 108.65% 113.65% 0.00% 6.56% 0.00% 11.94% 0.00% 32.41% 14.50% 24.76% 48.80% 40.94% 47.73% 36.08% 13.22% <-Median-> 10 DPR EPS
DPR EPS 5 Yr Running 43.34% 65.88% 70.45% 77.16% 114.53% 66.29% 114.09% 54.40% 328.51% 65.28% 92.69% 25.37% 37.32% 28.84% 31.68% 38.57% 71.72% <-Median-> 10 DPR EPS 5 Yr Running
Payout Ratio CFPS 19.45% 20.68% 22.86% 48.19% 19.36% 8.03% 11.41% 7.95% 28.13% 2.96% 5.86% 13.30% 13.44% 18.18% 17.69% 14.43% 12.36% <-Median-> 10 DPR CF
DPR CF 5 Yr Running 18.71% 20.57% 21.17% 22.65% 23.17% 22.11% 21.31% 16.74% 10.65% 7.50% 7.51% 8.54% 10.61% 11.85% 14.15% 15.90% 13.69% <-Median-> 10 DPR CF 5 Yr Running
Payout Ratio CFPS WC 18.26% 20.28% 23.17% 42.00% 11.71% 8.43% 14.68% 7.01% 52.25% 2.46% 6.12% 11.36% 15.53% 18.18% 17.69% 14.43% 11.53% <-Median-> 10 DPR CF WC
DPR CF WC 5 Yr Running 18.72% 20.67% 21.07% 22.03% 21.69% 21.04% 20.74% 15.51% 10.13% 7.24% 7.38% 7.89% 10.43% 11.62% 14.27% 15.86% 12.97% <-Median-> 10 DPR CF WC 5 Yr Running
Median Values 10 Yr Med 10 Yr Cl 1.53% 1.68% 5 Yr Med 5 Yr Cl 1.38% 1.33% 5 Yr Med Payout 24.76% 13.30% 11.36% 23.63% <-IRR #YR-> 5 Dividends 188.84%
* Dividends per share  10 Yr Med and Cur. 118.38% 99.06% 5 Yr Med and Cur. 141.47% 151.04% Last Div Inc ---> $0.1600 $0.0500 -68.8% -6.42% <-IRR #YR-> 10 Dividends -48.51%
Dividends Growth 15 -3.13% <-IRR #YR-> 15 Dividends -37.97%
Dividends Growth 20 8.23% <-IRR #YR-> 20 Dividends 386.76%
Dividends Growth 25 9.89% <-IRR #YR-> 25 Dividends
Dividends Growth 30 7.96% <-IRR #YR-> 30 Dividends
Dividends Growth 35 8.62% <-IRR #YR-> 32 Dividends
Dividends Growth 5 -$0.16 $0.00 $0.00 $0.00 $0.00 $0.47 Dividends Growth 5
Dividends Growth 10 -$0.92 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.47 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 $0.47 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 $0.47 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 $0.47 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 $0.47 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 $0.47 Dividends Growth 35
Historical Dividends Historical High Div 5.29% Low Div 0.49% 10 Yr High 4.93% 10 Yr Low 0.47% Med Div 2.18% Close Div 2.23% Historical Dividends
High/Ave/Median Values Curr diff Exp. -36.82%     582.09% Exp. -32.21% 611.12% Cheap 53.31% Cheap 49.56% High/Ave/Median 
Dividends* CDN$ $0.79 $0.84 $0.89 Estimates Dividends* CDN$
Increase 16.18% 6.58% 5.58% Estimates Increase
Payout Ratio EPS 41.47% 50.24% 40.10% Estimates Payout Ratio EPS
Special Dividends CDN$ $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.11 $0.00 $0.14 $0.00 $0.00 $0.00 $0.00 <-Median-> 10 Special Dividends
AEC Div
pre split 2005
Dividends CDN$* $0.88 $0.97 $1.06 $0.85 $0.20 $0.20 $0.20 $0.21 $0.06 $0.09 $0.35 $0.53 $0.68 $0.78 $0.80 $0.80 -36.14% <-Total Growth 10 Dividends
Increase 0.00% 10.00% 10.00% -19.95% -76.54% 0.00% 0.00% 6.25% -70.59% 40.00% 300.00% 50.00% 29.52% 14.71% 2.56% 0.00% 15 6 32 Years of data Count P, N
Average Increases 5 Year Running 28.38% 0.83% 6.00% 2.01% -15.30% -15.30% -17.30% -18.05% -28.18% -4.87% 55.13% 65.13% 69.79% 86.85% 79.36% 19.36% -10.08% <-Median-> 10 Average Incr 5 Year Running
Dividends 5 Yr Running $0.86 $0.87 $0.92 $0.93 $0.79 $0.66 $0.50 $0.33 $0.18 $0.15 $0.21 $0.27 $0.39 $0.53 $0.68 $0.74 -57.46% <-Total Growth 10 Dividends 5 Yr Running
Yield H/L Price 2.52% 3.10% 3.95% 4.11% 1.08% 1.36% 1.71% 1.77% 0.79% 0.73% 1.48% 2.11% 2.72% 3.85% 1.60% <-Median-> 10 Yield H/L Price
Yield on High  Price 2.24% 2.87% 3.07% 3.33% 0.94% 0.98% 1.37% 1.52% 0.46% 0.53% 1.13% 1.81% 2.28% 3.08% 1.25% <-Median-> 10 Yield on High  Price
Yield on Low Price 2.88% 3.37% 5.52% 5.35% 1.26% 2.22% 2.29% 2.12% 2.75% 1.20% 2.15% 2.54% 3.38% 5.15% 2.26% <-Median-> 10 Yield on Low Price
Yield on Close Price 2.64% 3.18% 4.44% 4.87% 0.99% 1.74% 2.08% 1.61% 0.81% 0.56% 1.33% 1.96% 3.12% 3.26% 3.35% 3.35% 1.68% <-Median-> 10 Yield on Close Price
Payout Ratio EPS 67.18% 111.26% 108.65% 113.65% 0.00% 6.56% 0.00% 11.94% 0.00% 32.41% 14.50% 24.76% 48.80% 40.94% 47.73% 36.08% 13.22% <-Median-> 10 DPR EPS
DPR EPS 5 Yr Running 41.57% 66.18% 71.43% 79.27% 121.63% 65.70% 128.43% 60.32% 1250.00% 77.02% 90.04% 24.89% 36.73% 29.15% 32.01% 38.80% 78.14% <-Median-> 10 DPR EPS 5 Yr Running
Payout Ratio CFPS 19.45% 20.68% 22.86% 48.19% 19.36% 8.03% 11.41% 7.95% 28.13% 2.96% 5.86% 13.30% 13.44% 18.18% 17.7% 14.4% 12.36% <-Median-> 10 DPR CF
DPR CF 5 Yr Running 18.44% 20.56% 21.21% 23.25% 23.79% 22.46% 21.51% 17.13% 10.71% 7.55% 7.56% 8.57% 10.76% 12.02% 14.22% 15.92% 13.95% <-Median-> 10 DPR CF 5 Yr Running
Payout Ratio CFPS WC 18.26% 20.28% 23.17% 42.00% 11.71% 8.43% 14.68% 7.01% 52.25% 2.46% 6.12% 11.36% 15.53% 18.18% 17.69% 14.43% 11.53% <-Median-> 10 DPR CF WC
DPR CF WC 5 Yr Running 18.43% 20.67% 21.12% 22.58% 22.12% 21.23% 20.86% 15.85% 10.18% 7.31% 7.45% 7.93% 10.62% 11.84% 14.38% 15.93% 13.24% <-Median-> 10 DPR CF WC 5 Yr Running
Median Values 10 Yr Med 10 Yr Cl 1.60% 1.68% 5 Yr Med 5 Yr Cl 1.48% 1.33% 5 Yr Med Payout 24.76% 13.30% 11.36% 26.19% <-IRR #YR-> 5 Dividends 220.00%
* Dividends per share  10 Yr Med and Cur. 109.58% 99.63% 5 Yr Med and Cur. 125.75% 151.13% Last Div Inc ---> $0.1800 $0.2000 11.11% -4.39% <-IRR #YR-> 10 Dividends -36.14%
Dividends Growth 15 -1.08% <-IRR #YR-> 15 Dividends -15.00%
Dividends Growth 20 9.20% <-IRR #YR-> 20 Dividends 481.34%
Dividends Growth 25 9.78% <-IRR #YR-> 25 Dividends 930.99%
Dividends Growth 30 8.09% <-IRR #YR-> 30 Dividends
Dividends Growth 35 8.01% <-IRR #YR-> 32 Dividends
Historical Dividends Historical High Div 4.17% Low Div 0.54% 10 Yr High 5.16% 10 Yr Low 0.47% Med Div 1.48% Close Div 1.61% Historical Dividends
High/Ave/Median Values Curr diff Exp. -19.76%     519.61% Exp. -35.16% 611.89% Cheap 126.07% Cheap 107.84% High/Ave/Median 
Future Dividend Yield Div Yd 10.71% earning in 5 Years at IRR of 26.19% Div Inc. 220.00% Future Dividend Yield
Future Dividend Yield Div Yd 34.26% earning in 10 Years at IRR of 26.19% Div Inc. 924.00% Future Dividend Yield
Future Dividend Yield Div Yd 109.64% earning in 15 Years at IRR of 26.19% Div Inc. 3176.80% Future Dividend Yield
Future Dividend Paid Div Paid $2.56 earning in 5 Years at IRR of 26.19% Div Inc. 220.00% Future Dividend Paid
Future Dividend Paid Div Paid $8.19 earning in 10 Years at IRR of 26.19% Div Inc. 924.00% Future Dividend Paid
Future Dividend Paid Div Paid $26.21 earning in 15 Years at IRR of 26.19% Div Inc. 3176.80% Future Dividend Paid
Dividend Covering Cost Total Div $6.72 over 5 Years at IRR of 26.19% Div Cov. 28.10% Dividend Covering Cost
Dividend Covering Cost Total Div $25.66 over 10 Years at IRR of 26.19% Div Cov. 107.33% Dividend Covering Cost
Dividend Covering Cost Total Div $86.28 over 15 Years at IRR of 26.19% Div Cov. 360.86% Dividend Covering Cost
Yield if held 5 years 2.95% 2.86% 3.98% 2.94% 0.58% 0.57% 0.64% 0.79% 0.30% 0.47% 2.38% 4.49% 5.65% 9.84% 6.71% 3.39% 0.71% <-Median-> 10 Paid Median Price
Yield if held 10 years 8.33% 8.17% 7.18% 3.44% 0.76% 0.67% 0.59% 0.79% 0.22% 0.25% 1.00% 1.68% 2.52% 3.76% 4.30% 5.43% 0.78% <-Median-> 10 Paid Median Price
Yield if held 15 years 17.36% 18.13% 16.22% 9.42% 1.90% 1.89% 1.69% 1.43% 0.25% 0.33% 1.17% 1.55% 2.54% 2.69% 2.32% 2.29% 1.62% <-Median-> 10 Paid Median Price
Yield if held 20 years 39.90% 30.01% 32.09% 26.17% 4.41% 3.94% 3.75% 3.24% 0.69% 0.83% 3.31% 4.43% 4.59% 3.15% 3.06% 2.68% 3.85% <-Median-> 10 Paid Median Price
Yield if held 25 years 9.07% 6.20% 6.40% 1.92% 1.93% 6.90% 9.83% 10.36% 8.62% 7.59% 7.57% 6.65% <-Median-> 8 Paid Median Price
Yield if held 30 years 15.87% 16.27% 20.49% 23.95% 17.64% 15.78% 16.27% <-Median-> 3 Paid Median Price
Yield if held 35 years 36.27% #NUM! <-Median-> 0 Paid Median Price
Cost covered if held 5 years 14.45% 12.79% 17.17% 16.03% 11.49% 9.41% 8.06% 6.17% 4.22% 4.10% 6.97% 11.56% 16.25% 33.71% 28.39% 15.75% 8.73% <-Median-> 10 Paid Median Price
Cost covered if held 10 years 50.48% 52.13% 48.03% 31.50% 29.75% 25.46% 20.22% 23.40% 19.05% 13.71% 12.35% 12.38% 13.41% 17.09% 22.31% 32.21% 19.63% <-Median-> 10 Paid Median Price
Cost covered if held 15 years 114.05% 125.22% 117.01% 93.65% 81.31% 81.57% 73.38% 59.26% 35.04% 32.67% 28.90% 24.22% 30.70% 28.26% 23.52% 23.01% 47.15% <-Median-> 10 Paid Median Price
Cost covered if held 20 years 276.78% 217.43% 241.48% 270.15% 197.02% 178.84% 172.37% 142.36% 103.33% 88.55% 91.29% 84.80% 72.43% 45.82% 45.61% 41.36% 122.84% <-Median-> 10 Paid Median Price
Cost covered if held 25 years 425.74% 295.46% 291.65% 297.01% 213.83% 199.08% 197.69% 172.12% 132.86% 120.65% 126.50% 252.74% <-Median-> 8 Paid Median Price
Cost covered if held 30 years 472.29% 337.35% 350.53% 379.02% 288.46% 272.45% 350.53% <-Median-> 3 Paid Median Price
Cost covered if held 35 years 643.58% #NUM! <-Median-> 0 Paid Median Price
Yr  Item Tot. Growth
Revenue Growth CDN$ $20,181 $13,227 $46,357 $66,897 $52,204 $54,277 $53,318 <-12 mths -1.77% 168.95% <-Total Growth 5 Revenue Growth  168.95%
FFO Growth $2.03 -$0.59 $2.32 $3.62 $2.34 $1.69 $1.09 <-12 mths -35.52% -16.69% <-Total Growth 5 FFO Growth -16.69%
Net Income Growth $2,194 -$2,379 $587 $6,450 $4,109 $3,142 $2,676 <-12 mths -14.83% 43.21% <-Total Growth 5 Net Income Growth 43.21%
Cash Flow Growth $3,285 $273 $5,919 $11,403 $7,388 $9,235 $8,192 <-12 mths -11.29% 181.13% <-Total Growth 5 Cash Flow Growth 181.13%
Dividend Growth $0.21 $0.06 $0.09 $0.35 $0.53 $0.68 $0.78 <-12 mths 14.71% 220.00% <-Total Growth 5 Dividend Growth 220.00%
Stock Price Growth $13.20 $7.75 $15.51 $26.27 $26.80 $21.79 $23.91 <-12 mths 9.73% 65.08% <-Total Growth 5 Stock Price Growth 65.08%
Revenue Growth CDN$ $19,642 $13,064 $12,134 $17,043 $20,844 $20,181 $13,227 $46,357 $66,897 $52,204 $54,277 $53,318 <-12 mths -1.77% 176.33% <-Total Growth 10 Revenue Growth  176.33%
FFO Growth $4.59 $2.07 $1.64 $2.64 $1.36 $2.03 -$0.59 $2.32 $3.62 $2.34 $1.69 $1.09 <-12 mths -35.52% -63.18% <-Total Growth 10 FFO Growth -63.18%
Net Income Growth $744 $618 -$545 $3,366 -$2,669 $2,194 -$2,379 $587 $6,450 $4,109 $3,142 $2,676 <-12 mths -14.83% 322.31% <-Total Growth 10 Net Income Growth 322.31%
Cash Flow Growth $3,526 $1,474 $861 $3,059 $2,154 $3,285 $273 $5,919 $11,403 $7,388 $9,235 $8,192 <-12 mths -11.29% 161.91% <-Total Growth 10 Cash Flow Growth 161.91%
Dividend Growth $1.06 $0.85 $0.20 $0.20 $0.20 $0.21 $0.06 $0.09 $0.35 $0.53 $0.68 $0.8 <-12 mths 14.71% -36.14% <-Total Growth 10 Dividend Growth -36.14%
Stock Price Growth $23.97 $17.50 $20.30 $11.48 $9.60 $13.20 $7.75 $15.51 $26.27 $26.80 $21.79 $23.91 <-12 mths 9.73% -9.09% <-Total Growth 10 Stock Price Growth -9.09%
Dividends on Shares $35.80 $8.40 $8.40 $8.40 $8.93 $2.63 $3.68 $19.49 $22.05 $34.23 $32.76 $33.60 $33.60 $151.99 No of Years 10 Total Divs 12/31/14
Paid  $1,006.74 $735.00 $852.60 $482.16 $403.20 $554.40 $325.50 $651.42 $1,103.34 $1,125.60 $915.18 $1,004.22 $1,004.22 $1,004.22 $915.18 No of Years 10 Worth $23.97
Total $1,067.17
Graham No. AFFO $37.43 $37.54 $37.28 $26.32 $22.67 $31.10 $20.87 $26.71 $24.91 $24.83 $34.32 $28.41 $24.90 $33.74 $0.00 $0.00 -33.20% <-Total Growth 10 Graham Price AFFO
Price/GP Ratio Med 0.93 0.83 0.72 0.79 0.82 0.47 0.56 0.45 0.32 0.48 0.69 0.87 1.00 0.60 0.62 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 1.05 0.90 0.93 0.97 0.94 0.66 0.70 0.52 0.55 0.67 0.90 1.02 1.20 0.75 0.80 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 0.82 0.76 0.52 0.60 0.70 0.29 0.42 0.38 0.09 0.29 0.47 0.73 0.81 0.45 0.45 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 0.89 0.81 0.64 0.66 0.90 0.37 0.46 0.49 0.31 0.62 0.77 0.94 0.88 0.71 #DIV/0! #DIV/0! 0.64 <-Median-> 10 Price/GP Ratio
Prem/Disc Close -11.07% -19.01% -35.69% -33.50% -10.46% -63.08% -54.00% -50.57% -68.89% -37.53% -23.45% -5.66% -12.49% -29.13% #DIV/0! #DIV/0! -35.52% <-Median-> 10 Graham Price
Graham No. last 3 EPS $20.60 $21.26 $20.41 $18.77 $16.47 $11.48 $18.33 $5.19 $16.47 $12.55 $3.45 $13.26 $26.14 $29.06 $26.23 $25.19 28.07% <-Total Growth 10 Graham Price Last 3 EPS
Price/GP Ratio Med 1.69 1.47 1.32 1.11 1.13 1.28 0.64 2.32 0.48 0.95 6.84 1.87 0.95 0.70 0.00 0.00 1.12 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 1.91 1.59 1.70 1.36 1.29 1.78 0.80 2.70 0.82 1.32 8.97 2.19 1.14 0.87 0.00 0.00 1.34 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 1.48 1.35 0.94 0.85 0.97 0.78 0.48 1.93 0.14 0.58 4.72 1.56 0.77 0.52 0.00 0.00 0.82 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 1.62 1.43 1.17 0.93 1.23 1.00 0.52 2.54 0.47 1.24 7.61 2.02 0.83 0.82 0.91 0.95 1.12 <-Median-> 10 Price/GP Ratio
Prem/Disc Close 64.91% 56.97% 20.65% -8.04% 12.40% 0.01% -36.57% 32.01% -95.94% 35.02% 70.76% 50.06% -17.59% -19.60% -9.42% -4.51% 6.21% <-Median-> 10 Graham Price
Graham No. EPS $19.55 $16.05 $17.22 $15.84 $30.89 $33.40 $23.86 $25.02 $9.09 $8.46 $32.25 $27.04 $24.75 $26.28 $24.65 $28.35 43.70% <-Total Growth 10 Graham Price EPS
Price/GP Ratio Med 1.79 1.95 1.57 1.31 0.60 0.44 0.49 0.48 0.87 1.41 0.73 0.92 1.01 0.77 0.80 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 2.01 2.11 2.01 1.62 0.69 0.61 0.61 0.56 1.49 1.95 0.96 1.07 1.20 0.97 1.02 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 1.56 1.79 1.12 1.01 0.52 0.27 0.37 0.40 0.25 0.86 0.50 0.76 0.81 0.58 0.51 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 1.70 1.89 1.39 1.10 0.66 0.34 0.40 0.53 0.85 1.83 0.81 0.99 0.88 0.91 0.97 0.84 0.83 <-Median-> 10 Price/GP Ratio
Prem/Disc Close 70.24% 89.44% 39.17% 10.47% -34.29% -65.63% -59.77% -47.23% -14.72% 83.26% -18.54% -0.90% -11.96% -9.01% -2.99% -15.66% -16.63% <-Median-> 10 Graham Price
AEC to 2001
pre split 2005
Price Close CDN$ $33.29 $30.40 $23.97 $17.50 $20.30 $11.48 $9.60 $13.20 $7.75 $15.51 $26.27 $26.80 $21.79 $23.91 $23.91 $23.91 -9.09% <-Total Growth 10 Stock Price
Increase 0.27% -8.68% -21.15% -26.99% 16.00% -43.45% -16.38% 37.50% -41.29% 100.13% 69.37% 2.02% -18.69% 9.73% 0.00% 0.00% 25.79 <-Median-> 10 CAPE (10 Yr P/E)
P/E 25.41 34.94 24.46 23.33 -31.23 3.76 -4.42 7.42 -3.99 57.44 8.21 12.64 13.05 12.55 14.27 10.78 10.54% <-IRR #YR-> 5 Stock Price 65.08%
Trailing P/E 17.07 23.21 27.55 17.86 27.07 -17.66 3.15 -6.08 4.35 -7.99 97.30 8.38 10.28 14.32 12.55 14.27 -0.95% <-IRR #YR-> 10 Stock Price -9.09%
CAPE (10 Yr P/E) 12.72 13.41 14.07 14.70 18.75 16.67 28.03 24.62 13.07 36.49 42.79 36.27 26.97 25.89 20.68 22.29 12.71% <-IRR #YR-> 5 Price & Dividend 159.53%
Median 10, 5 Yrs D.  per yr 1.57% 2.17% % Tot Ret 252.57% 17.06% T P/E 6.36 8.38 P/E:  7.81 12.64 0.62% <-IRR #YR-> 10 Price & Dividend 6.00%
Price 15 D.  per yr 2.36% % Tot Ret 168.89% CAPE Diff -51.34% -0.96% <-IRR #YR-> 15 Stock Price -13.53%
Price  20 D.  per yr 2.97% % Tot Ret 68.44% 1.37% <-IRR #YR-> 20 Stock Price 31.25%
Price  25 D.  per yr 3.54% % Tot Ret 44.55% 4.40% <-IRR #YR-> 25 Stock Price 193.66%
Price  30 D.  per yr 4.21% % Tot Ret 37.89% 6.89% <-IRR #YR-> 30 Stock Price
Price  35 D.  per yr 3.95% % Tot Ret 36.84% 6.77% <-IRR #YR-> 32 Stock Price
Price & Dividend 15 1.40% <-IRR #YR-> 15 Price & Dividend 19.05%
Price & Dividend 20 4.34% <-IRR #YR-> 20 Price & Dividend 95.95%
Price & Dividend 25 7.94% <-IRR #YR-> 25 Price & Dividend 345.99%
Price & Dividend 30 11.10% <-IRR #YR-> 30 Price & Dividend
Price & Dividend 35 10.72% <-IRR #YR-> 32 Price & Dividend
Price H/L Median CDN $34.91 $31.24 $26.99 $20.76 $18.59 $14.74 $11.69 $12.03 $7.93 $11.92 $23.62 $24.84 $24.96 $20.25 -7.50% <-Total Growth 10 Stock Price
Increase 1.2% -10.5% -13.6% -23.1% -10.4% -20.7% -20.7% 2.9% -34.1% 50.4% 98.1% 5.2% 0.5% -18.9% -0.78% <-IRR #YR-> 10 Stock Price -7.50%
P/E 26.65 35.91 27.54 27.67 -28.60 4.83 -5.39 6.76 -4.09 44.15 7.38 11.71 14.95 10.63 15.73% <-IRR #YR-> 5 Stock Price 107.57%
Trailing P/E 17.90 23.85 31.02 21.18 24.79 -22.67 3.83 -5.54 4.45 -6.14 87.46 7.76 11.77 12.13 0.61% <-IRR #YR-> 10 Price & Dividend
P/E on Run. 5 yr Ave 16.83 23.88 20.98 17.71 28.51 14.74 29.82 21.78 566.07 60.20 103.57 22.87 23.46 11.05 17.82% <-IRR #YR-> 5 Price & Dividend
P/E on Run. 10 yr Ave 16.69 14.75 13.04 10.77 12.56 9.59 13.75 13.08 13.36 28.05 38.46 33.61 30.89 21.93 14.95 P/E Ratio Historical Median
Median 10, 5 Yrs D.  per yr 1.39% 2.09% % Tot Ret 227.81% 11.75% T P/E 6.11 7.76 P/E:  7.07 11.71 Count 33 Years of data
High Months Feb Jan Aug Feb Dec Jan Jul  Apr Jan Nov Jun Oct Apr Oct
AEC
pre split 2005
Price High CDN$ $39.31 $33.78 $34.68 $25.59 $21.26 $20.47 $14.64 $14.01 $13.58 $16.52 $30.95 $29.03 $29.81 $25.36 -14.04% <-Total Growth 10 Stock Price
Increase -2.24% -14.07% 2.66% -26.21% -16.92% -3.72% -28.48% -4.30% -3.07% 21.65% 87.35% -6.20% 2.69% -14.93% -1.50% <-IRR #YR-> 10 Stock Price -14.04%
P/E 30.0 38.8 35.4 34.1 -32.7 6.7 -6.7 7.9 -7.0 61.2 9.7 13.7 17.9 13.3 16.30% <-IRR #YR-> 5 Stock Price 112.78%
Trailing P/E 20.2 25.8 39.9 26.1 28.3 -31.5 4.8 -6.5 7.6 -8.5 114.6 9.1 14.1 15.2 16.98 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 8.35 9.07 P/E:  8.77 13.69 34.33 P/E Ratio Historical High
-$34.68 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $29.81
-$14.01 $0.00 $0.00 $0.00 $0.00 $29.81
Low Months Aug Apr Dec Aug Aug Jun Dec Feb Mar Jan Jan May Jan Apr
AEC
pre split 2005
Price Low pre 09
Price Low CDN$ $30.51 $28.70 $19.29 $15.92 $15.92 $9.00 $8.74 $10.04 $2.27 $7.32 $16.28 $20.64 $20.11 $15.14 4.25% <-Total Growth 10 Stock Price
Increase 6.01% -5.93% -32.79% -17.47% 0.00% -43.47% -2.89% 14.87% -77.39% 222.47% 122.40% 26.78% -2.57% -24.71% 0.42% <-IRR #YR-> 10 Stock Price 4.25%
P/E 23.3 33.0 19.7 21.2 -24.5 3.0 -4.0 5.6 -1.2 27.1 5.1 9.7 12.0 7.9 14.90% <-IRR #YR-> 5 Stock Price 100.30%
Trailing P/E 15.6 21.9 22.2 16.2 21.2 -13.8 2.9 -4.6 1.3 -3.8 60.3 6.5 9.5 9.1 12.04 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 4.66 6.45 P/E:  5.36 9.74 5.03 P/E Ratio Historical Low
-$19.29 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $20.11
-$10.04 $0.00 $0.00 $0.00 $0.00 $20.11
US$ from CDN$ stock price $33.40 $28.58 $20.66 $12.64 $15.12 $9.15 $7.04 $10.16 $6.09 $12.23 $19.40 $20.26 $15.14 $17.06 $17.06 $17.06
Price Close US$ $33.54 $28.65 $20.62 $12.34 $15.13 $9.13 $7.03 $10.15 $6.04 $12.28 $19.41 $16.65 $15.15 $17.08 $17.08 $17.08 -26.53% <-Total Growth 10 Stock Price
Increase 1.0% -14.6% -28.0% -40.2% 22.6% -39.7% -23.0% 44.4% -40.5% 103.3% 58.1% -14.2% -9.0% 12.7% 0.0% 0.0% 11.52 <-Median-> 10 CAPE (10 Yr P/E)
P/E 25.52 35.03 24.41 22.78 -31.25 3.76 -4.42 7.41 -3.96 57.66 8.22 10.39 13.05 12.56 14.28 10.80 8.34% <-IRR #YR-> 5 Stock Price 49.26%
Trailing P/E 17.57 21.80 25.21 14.61 27.93 -18.86 2.89 -6.38 4.41 -8.06 91.14 7.05 9.45 14.72 12.56 14.28 -3.04% <-IRR #YR-> 10 Stock Price -26.53%
CAPE (10 Yr P/E) 17.87 14.99 11.00 7.08 11.08 6.72 8.63 11.97 10.73 31.21 38.95 28.87 24.90 24.75 19.90 22.09 10.52% <-IRR #YR-> 5 Price & Dividend 63.29%
Median 10, 5 Yrs D.  per yr 1.49% 2.18% % Tot Ret 0.00% 20.75% T P/E 5.73 7.05 P/E:  7.81 10.39 -1.55% <-IRR #YR-> 10 Price & Dividend -13.64%
Price 15 D.  per yr 2.30% % Tot Ret -222.62% CAPE Diff 9.03% -3.34% <-IRR #YR-> 15 Stock Price -39.88%
Price  20 D.  per yr 2.73% % Tot Ret 339.95% -1.93% <-IRR #YR-> 19 Stock Price
Price & Dividend 15 -1.03% <-IRR #YR-> 15 Stock Price 5909.89%
Price & Dividend 20 0.80% <-IRR #YR-> 19 Stock Price
Price H/L Median US$ $34.45 $30.99 $24.52 $16.34 $13.02 $11.05 $9.06 $8.97 $6.06 $9.68 $18.67 $18.18 $18.35 $14.33 -25.16% <-Total Growth 10 Stock Price
Increase -0.1% -10.1% -20.9% -33.4% -20.3% -15.1% -18.0% -1.0% -32.5% 59.9% 92.9% -2.6% 0.9% -21.9% -2.86% <-IRR #YR-> 10 Stock Price -25.16%
P/E 121.39 3732.84 408.67 812.48 -85.12 -72.24 -52.38 -49.68 -21.49 -198.86 33.86 27.91 26.29 16.50 15.40% <-IRR #YR-> 5 Stock Price 104.68%
Trailing P/E 81.44 109.18 2953.98 272.25 647.59 -72.24 -59.23 -51.83 -33.55 -34.36 -383.55 32.98 28.17 20.53 -0.36% <-IRR #YR-> 10 Price & Dividend
P/E on Run. 5 yr Ave 1538.90 1081.27 798.60 490.39 1384.03 1130.97 663.19 591.06 1315.63 1827.58 1650.96 1005.27 804.43 465.91 18.06% <-IRR #YR-> 5 Price & Dividend
P/E on Run. 10 yr Ave 1194.40 918.67 444.21 305.08 1036.39 497.25 395.92 423.57 219.92 809.80 868.42 714.73 542.67 278.15 27.91 P/E Ratio Historical Median
Median 10, 5 Yrs D.  per yr 2.49% 2.66% % Tot Ret 0.00% 14.72% T P/E -33.95 -33.55 P/E:  -35.58 26.29 Count 15 Years of data
High Months Mar Jan Jul Feb Jun Jan May Apr Jan Nov Jun Oct Apr Oct
Price High US$ $39.55 $34.23 $32.50 $20.66 $16.32 $15.30 $11.19 $10.44 $10.47 $13.61 $24.71 $21.21 $21.80 $18.08 -32.92% <-Total Growth 10 Stock Price
Increase -1.64% -13.45% -5.05% -36.43% -21.01% -6.25% -26.86% -6.70% 0.29% 29.99% 81.56% -14.16% 2.78% -17.06% -3.91% <-IRR #YR-> 10 Stock Price -32.92%
P/E 30.2 39.3 33.2 27.5 -25.1 5.0 -5.2 5.9 -5.4 50.4 7.7 10.0 13.1 9.5 15.86% <-IRR #YR-> 5 Stock Price 108.81%
Trailing P/E 93.5 120.6 3915.4 344.3 811.7 -100.0 -73.2 -60.4 -58.0 -48.3 -507.6 38.5 33.5 25.9 13.05 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E -53.16 -48.31 P/E:  6.79 10.00 32.57 P/E Ratio Historical High
-$32.50 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $21.80
-$10.44 $0.00 $0.00 $0.00 $0.00 $21.80
Low Months Jun Jun Dec Aug Feb Jun Dec Feb Mar Jan Jan May Jan Apr
Price Low US$ $29.35 $27.74 $16.54 $12.01 $9.72 $6.80 $6.93 $7.49 $1.64 $5.75 $12.63 $15.15 $14.90 $10.58 -9.92% <-Total Growth 10 Stock Price
Increase 1.98% -5.49% -40.37% -27.39% -19.07% -30.04% 1.91% 8.08% -78.10% 250.61% 119.65% 19.95% -1.65% -28.99% -1.04% <-IRR #YR-> 10 Stock Price -9.92%
P/E 103.4 3341.9 275.7 597.4 -63.5 -44.5 -40.1 -41.5 -5.8 -118.1 22.9 23.3 21.4 12.2 14.75% <-IRR #YR-> 5 Stock Price 98.93%
Trailing P/E 69.4 97.7 1992.6 200.2 483.5 -44.5 -45.3 -43.3 -9.1 -20.4 -259.5 27.5 22.9 15.2 22.91 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E -14.75 -9.09 P/E:  -22.94 21.35 -43.86 P/E Ratio Historical Low
-$16.54 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $14.90
-$7.49 $0.00 $0.00 $0.00 $0.00 $14.90
Free Cash Flow Mkt Sc -$712 $3,356 $7,695 $3,090 $4,220 $1,995 $3,593 $4,790 <-Total Growth 4 Free Cash Flow Mkt Sc
Change 571.35% 129.29% -59.84% 36.57% -52.73% 80.10% 33.31% 82.93% <-Median-> 4 Change
-$750 <-12 mths -125.68%
Free Cash Flow MS old 2024 $468 -$240 -$173 $1,389 $777 $2,102 -$586 $3,356 $7,645
Free Cash Flow MS -$29 $270 $420 -$20 $390 $1,240 $300 $2,540 -$710 $4,580 $7,070 $4,280 $2,920 $1,995 $3,593 595.24% <-Total Growth 10 Free Cash Flow MS, Mkt S
Change -106.03% 1031.03% 55.56% -104.76% 2050.00% 217.95% -75.81% 746.67% -127.95% 745.07% 54.37% -39.46% -31.78% -31.68% 80.10% 2.83% <-IRR #YR-> 5 Free Cash Flow MS 14.96%
FCF/CF from Op Ratio -0.01 0.08 0.14 -0.02 0.61 0.51 0.19 1.00 -3.31 0.98 0.84 0.77 0.45 0.36 0.61 21.40% <-IRR #YR-> 10 Free Cash Flow MS 595.24%
Dividends paid $665 $732 $805 $528 $166 $225 $245 $260 $77 $176 $901 $1,026 $1,551 $1,424 $1,460 92.67% <-Total Growth 10 Dividends paid
Percentage paid -2640.00% 42.56% 18.15% 81.67% 10.24% -10.85% 3.84% 12.74% 23.97% 53.12% 71.35% 40.64% $0.15 <-Median-> 10 Percentage paid
5 Year Coverage 297.06% 280.89% 106.78% 84.51% 32.00% 25.88% 12.36% 12.04% 13.74% 20.57% 24.36% 32.04% 5 Year Coverage
Dividend Coverage Ratio -0.04 2.35 5.51 1.22 9.77 -9.22 26.02 7.85 4.17 1.88 1.40 2.46 3.26 <-Median-> 10 Dividend Coverage Ratio
5 Year of Coverage 3.13 3.86 8.09 8.31 7.28 4.86 4.11 3.12 5 Year of Coverage
$6,069 <-12 mths 91.21%
Free Cash Flow WSJ $747 -$102 -$106 $1,536 $832 $2,175 -$586 $3,411 $7,732 $3,174 $4,285 $1,995 $3,593 473.63% <-Total Growth 10 Free Cash Flow WSJ
Change -113.65% -3.92% 1549.06% -45.83% 161.42% -126.94% 682.08% 126.68% -58.95% 35.00% -53.44% 80.10% 14.52% <-IRR #YR-> 5 Free Cash Flow MS -78.32%
FCF/CF from Op Ratio 0.25 -0.10 -0.17 0.63 0.53 0.86 -2.73 0.73 0.92 0.57 0.67 0.36 0.61 19.09% <-IRR #YR-> 10 Free Cash Flow MS #DIV/0!
Dividends paid $805 $528 $166 $225 $245 $260 $77 $176 $901 $1,026 $1,551 $1,424 $1,460 92.67% <-Total Growth 10 Dividends paid
Percentage paid 107.76% -517.65% -156.60% 14.65% 29.45% 11.95% -13.14% 5.16% 11.65% 32.33% 36.20% 71.35% 40.64% 11.80% <-Median-> 10 Percentage paid
5 Year Coverage 67.73% 32.85% 25.27% 13.34% 12.23% 15.34% 20.71% 24.65% 30.62% 5 Year Coverage
Dividend Coverage Ratio 0.93 -0.19 -0.64 6.83 3.40 8.37 -7.61 19.38 8.58 3.09 2.76 1.40 2.46 4.83 <-Median-> 7 Dividend Coverage Ratio
5 Year of Coverage 1.48 3.04 3.96 7.50 8.18 6.52 4.83 4.06 3.27 5 Year of Coverage
Market Cap US$ $25,351 $21,661 $15,611 $10,283 $12,608 $11,219 $8,638 $12,473 $7,422 $24,575 $37,057 $31,167 $27,649 $31,172 $31,172 $31,172 77.11% <-Total Growth 10 Market Cap 
Market Cap Pre 09 Full company
Market Cap CDN$ $25,162 $22,984 $18,148 $14,583 $16,916 $14,107 $11,796 $16,221 $9,524 $31,039 $50,154 $50,166 $39,768 $43,637 $43,637 $43,637 119.13% <-Total Growth 10 Market Cap
Diluted # of Shares in Million 758.5 757.5 757.6 818.7 866.3 1,102.5 1,229.2 1,229.4 1,228.9 2,016.2 2,006.1 1,925.4 1,863.2 1,950.7 145.94% <-Total Growth 10 Diluted
Change 0.11% -0.13% 0.01% 8.06% 5.81% 27.27% 11.49% 0.02% -0.04% 64.07% -0.50% -4.02% -3.23% 4.70% 2.92% <-Median-> 10 Change
Difference Diluted/Basic -0.4% -0.2% -0.1% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 1.4% -2.7% -1.6% -0.7% -3.9% -0.02% <-Median-> 10 Difference Diluted/Basic
Basic # of Shares in Millions 755.6 755.9 756.9 818.7 866.3 1,102.5 1,228.8 1,228.8 1,228.9 2,045.1 1,951.3 1,895.5 1,850.2 1875 1875 1875 144.44% <-Total Growth 10 Average
Change 0.21% 0.04% 0.13% 8.16% 5.81% 27.27% 11.46% 0.00% 0.01% 66.42% -4.59% -2.86% -2.39% 1.36% 0.00% 0.00% 2.91% <-Median-> 10 Change
Difference Basic/Outstanding 0.0% 0.0% 0.0% 1.8% -3.8% 11.5% 0.0% 0.0% 0.0% -2.1% -2.2% -1.2% -1.4% -2.7% -2.7% -2.7% -0.62% <-Median-> 10 Difference Basic/Outstanding
$5,846 <-12 mths 220.30%
Reason Aq. Husky
pre-split 2005
# of Share in Millions 755.8 756.0 757.1 833.3 833.3 1,228.8 1,228.8 1,228.8 1,228.9 2,001.2 1,909.2 1,871.9 1,825.0 1,825.0 1,825.0 1,825.0 9.20% <-IRR #YR-> 10 Shares 141.06%
Change 0.42% 0.03% 0.14% 10.06% 0.00% 47.46% 0.00% 0.00% 0.00% 62.85% -4.60% -1.95% -2.50% 0.00% 0.00% 0.00% 8.23% <-IRR #YR-> 5 Shares 48.52%
CF fr Op $M US$ pre 09
CF fr Op $M US$ $3,431 $3,327 $3,039 $1,064 $641 $2,438 $1,579 $2,529 $214 $4,669 $8,419 $5,586 $6,418 $5,587 $5,889 $7,219 111.16% <-Total Growth 10 Cash Flow
Increase 7.06% -3.02% -8.66% -64.98% -39.76% 280.26% -35.25% 60.19% -91.52% 2077.37% 80.33% -33.65% 14.90% -12.95% 5.41% 22.58% SO, S. Issue Buy Back Acquisition
5 year Running Average $3,286 $3,092 $3,121 $2,813 $2,301 $2,102 $1,752 $1,650 $1,480 $2,286 $3,482 $4,284 $5,061 $6,136 $6,380 $6,140 62.18% <-Total Growth 10 CF 5 Yr Running
CFPS $4.54 $4.40 $4.01 $1.28 $0.77 $1.98 $1.28 $2.06 $0.17 $2.33 $4.41 $2.98 $3.52 $3.06 $3.23 $3.96 -12.40% <-Total Growth 10 Cash Flow per Share
Increase 6.61% -3.04% -8.78% -68.18% -39.76% 157.87% -35.25% 60.18% -91.52% 1237.04% 89.02% -32.33% 17.85% -12.95% 5.41% 22.58% 7.76% <-IRR #YR-> 10 Cash Flow 62.18%
5 year Running Average $4.37 $4.10 $4.13 $3.70 $3.00 $2.49 $1.87 $1.47 $1.25 $1.57 $2.05 $2.39 $2.68 $3.26 $3.44 $3.35 20.47% <-IRR #YR-> 5 Cash Flow 206.66%
P/CF on Med Price 7.59 7.04 6.11 12.79 16.92 5.57 7.05 4.36 34.70 4.15 4.23 6.09 5.22 4.68 0.00 0.00 -1.32% <-IRR #YR-> 10 Cash Flow per Share -35.08%
P/CF on Closing Price 7.39 6.51 5.14 9.66 19.66 4.60 5.47 4.93 34.62 5.26 4.40 5.58 4.31 5.58 5.29 4.32 11.31% <-IRR #YR-> 2 Cash Flow per Share 81.95%
-4.30% Diff M/C -4.23% <-IRR #YR-> 10 CFPS 5 yr Running -16.13%
-$1,416 <-12 mths -125.49%
Non-Cash pre 09 US$
Excl.Working Capital CF $223.7 $65.8 -$40.5 $156.7 $418.6 -$115.6 -$351.9 $338.0 -$99.0 $940.2 -$361.8 $957.2 -$863.9 $0.0 $0.0 $0.0 12.72% <-IRR #YR-> 5 CFPS 5 yr Running -12.64%
CF fr Op $M WC $3,654.6 $3,393.2 $2,998.9 $1,221.2 $1,059.8 $2,322.8 $1,227.1 $2,867.3 $115.5 $5,608.9 $8,057.4 $6,543.2 $5,554.2 $5,586.9 $5,889.0 $7,218.6 65.08% <-Total Growth 10 Cash Flow less WC
Increase 13.94% -7.15% -11.62% -59.28% -13.21% 119.18% -47.17% 133.66% -95.97% 4758.02% 43.65% -18.79% -15.11% 0.59% 5.41% 22.58% 6.36% <-IRR #YR-> 10 Cash Flow less WC 65.08%
5 year Running Average $3,285 $3,077 $3,135 $2,895 $2,466 $2,199 $1,766 $1,740 $1,518 $2,428 $3,575 $4,638 $5,176 $6,270 $6,326 $6,158 14.14% <-IRR #YR-> 5 Cash Flow less WC 197.53%
CFPS Excl. WC US$ $4.84 $4.49 $3.96 $1.47 $1.27 $1.89 $1.00 $2.33 $0.09 $2.80 $4.22 $3.50 $3.04 $3.06 $3.23 $3.96 5.14% <-IRR #YR-> 10 CF less WC 5 Yr Run -10.15%
Increase 13.46% -7.18% -11.74% -63.00% -13.21% 48.63% -47.17% 133.66% -95.97% 2883.13% 50.58% -17.17% -12.94% 0.59% 5.41% 22.58% 24.37% <-IRR #YR-> 5 CF less WC 5 Yr Run -109.68%
5 year Running Average $4.36 $4.08 $4.15 $3.80 $3.20 $2.62 $1.92 $1.59 $1.32 $1.62 $2.09 $2.59 $2.73 $3.32 $3.41 $3.36 -2.60% <-IRR #YR-> 10 CFPS - Less WC -34.23%
P/CF on Med Price 7.12 6.90 6.19 11.15 10.24 5.85 9.07 3.84 64.45 3.45 4.42 5.20 6.03 4.68 0.00 0.00 5.46% <-IRR #YR-> 5 CFPS - Less WC 71.57%
P/CF on Closing Price 6.94 6.38 5.21 8.42 11.90 3.49 3.67 4.35 64.29 4.38 4.60 4.76 4.98 5.58 5.29 4.32 -4.10% <-IRR #YR-> 10 CFPS 5 yr Running -4.37%
CF/-WC P/CF Med 10 yr 5.83 5 yr  5.22 P/CF Med 10 yr 5.94 5 yr  5.20 -6.03% Diff M/C 11.40% <-IRR #YR-> 5 CFPS 5 yr Running 14.44%
$8,192 <-12 mths -11.29%
CF fr Op $M CDN$ pre 09
CF fr Op $M CDN$ $3,420 $3,539 $3,526 $1,474 $861 $3,059 $2,154 $3,285 $273 $5,919 $11,403 $7,388 $9,235 $7,829 $8,253 $10,116 161.91% <-Total Growth 10 Cash Flow
Increase 4.49% 3.48% -0.37% -58.20% -41.59% 255.28% -29.58% 52.51% -91.69% 2068.13% 92.65% -35.21% 25.00% -15.22% 5.41% 22.58% SO, S. Issue Buy Back
5 year Running Average $3,517 $3,173 $3,270 $3,046 $2,564 $2,492 $2,215 $2,167 $1,926 $2,938 $4,607 $5,654 $6,844 $8,355 $8,822 $8,564 109.26% <-Total Growth 10 CF 5 Yr Running
CFPS $4.52 $4.68 $4.66 $1.77 $1.03 $2.49 $1.75 $2.67 $0.22 $2.96 $5.97 $3.95 $5.06 $4.29 $4.52 $5.54 8.65% <-Total Growth 10 Cash Flow per Share
Increase 4.05% 3.45% -0.51% -62.02% -41.59% 140.93% -29.58% 52.50% -91.69% 1231.37% 101.94% -33.92% 28.21% -15.22% 5.41% 22.58% 10.11% <-IRR #YR-> 10 Cash Flow 161.91%
5 year Running Average $4.68 $4.21 $4.33 $4.00 $3.33 $2.93 $2.34 $1.94 $1.63 $2.02 $2.72 $3.15 $3.63 $4.45 $4.76 $4.67 22.96% <-IRR #YR-> 5 Cash Flow 181.13%
P/CF on Med Price 7.72 6.67 5.79 11.73 17.99 5.92 6.67 4.50 35.67 4.03 3.95 6.29 4.93 4.72 0.00 0.00 0.83% <-IRR #YR-> 10 Cash Flow per Share 8.65%
P/CF on Closing Price 7.36 6.49 5.15 9.89 19.65 4.61 5.48 4.94 34.89 5.24 4.40 6.79 4.31 5.57 5.29 4.31 13.61% <-IRR #YR-> 5 Cash Flow per Share 89.29%
-8.72% Diff M/C -1.75% <-IRR #YR-> 5 CFPS 5 yr Running -16.15%
-$1,984 <-12 mths -59.61%
Excl.Working Capital CF pre 09
Excl.Working Capital CF $223.0 $70.0 -$47.0 $217.0 $562.0 -$145.0 -$480.0 $439.0 -$126.0 $1,192.0 -$490.0 $1,266.0 -$1,243.0 $0.0 $0.0 $0.0 13.32% <-IRR #YR-> 5 CFPS 5 yr Running 86.87%
CF fr Op $M WC $3,643 $3,609 $3,479 $1,691 $1,423 $2,914 $1,674 $3,724 $147 $7,111 $10,913 $8,654 $7,992 $7,829 $8,253 $10,116 129.72% <-Total Growth 10 Cash Flow less WC
Increase 11.20% -0.93% -3.60% -51.39% -15.85% 104.78% -42.55% 122.46% -96.05% 4737.41% 53.47% -20.70% -7.65% -2.03% 5.41% 22.58% 8.67% <-IRR #YR-> 10 Cash Flow less WC -2544.68%
5 year Running Average $3,520 $3,158 $3,284 $3,140 $2,769 $2,623 $2,236 $2,285 $1,976 $3,114 $4,714 $6,110 $6,963 $8,500 $8,728 $8,569 16.50% <-IRR #YR-> 5 Cash Flow less WC -383.14%
CFPS Excl. WC $4.82 $4.77 $4.60 $2.03 $1.71 $2.37 $1.36 $3.03 $0.12 $3.55 $5.72 $4.62 $4.38 $4.29 $4.52 $5.54 7.80% <-IRR #YR-> 10 CF less WC 5 Yr Run 112.01%
Increase 10.74% -0.96% -3.74% -55.84% -15.85% 38.87% -42.55% 122.45% -96.05% 2870.48% 60.86% -19.12% -5.28% -2.03% 5.41% 22.58% 24.96% <-IRR #YR-> 5 CF less WC 5 Yr Run 204.72%
5 year Running Average $4.68 $4.19 $4.35 $4.11 $3.59 $3.10 $2.41 $2.10 $1.72 $2.09 $2.76 $3.41 $3.68 $4.51 $4.71 $4.67 -0.48% <-IRR #YR-> 10 CFPS - Less WC -4.70%
P/CF on Med Price 7.24 6.54 5.87 10.23 10.89 6.21 8.58 3.97 66.25 3.35 4.13 5.37 5.70 4.72 0.00 0.00 7.64% <-IRR #YR-> 5 CFPS - Less WC 44.50%
P/CF on Closing Price 6.91 6.37 5.22 8.62 11.89 4.84 7.05 4.36 64.79 4.36 4.60 5.80 4.98 5.57 5.29 4.31 -1.66% <-IRR #YR-> 10 CFPS 5 yr Running -15.44%
*Operational Cash Flow per share CF/-WC P/CF Med 10 yr 6.11 5 yr  4.93 P/CF Med 10 yr 5.96 5 yr  5.37 -6.43% Diff M/C 11.86% <-IRR #YR-> 5 CFPS 5 yr Running 75.13%
-757.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1,825.0 Shares
-1,228.8 0.0 0.0 0.0 0.0 1,825.0 Shares
-$3,039 $0 $0 $0 $0 $0 $0 $0 $0 $0 $6,418 Cash Flow
-$2,529 $0 $0 $0 $0 $6,418 Cash Flow
-$4.01 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.52 Cash Flow per Share
-$2.06 $0.00 $0.00 $0.00 $0.00 $3.52 Cash Flow per Share
-$4.13 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.68 CFPS 5 yr Running
-$1.47 $0.00 $0.00 $0.00 $0.00 $2.68 CFPS 5 yr Running
-$2,999 $0 $0 $0 $0 $0 $0 $0 $0 $0 $5,554 Cash Flow less WC
-$2,867 $0 $0 $0 $0 $5,554 Cash Flow less WC
-$3,135 $0 $0 $0 $0 $0 $0 $0 $0 $0 $5,176 CF less WC 5 Yr Run
-$1,740 $0 $0 $0 $0 $5,176 CF less WC 5 Yr Run
-$3.96 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.04 CFPS - Less WC
-$2.33 $0.00 $0.00 $0.00 $0.00 $3.04 CFPS - Less WC
-$4.15 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.73 CFPS 5 yr Running
-$1.59 $0.00 $0.00 $0.00 $0.00 $2.73 CFPS 5 yr Running
-$5.21 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.98 CFPS 5 yr Running
-$4.35 $0.00 $0.00 $0.00 $0.00 $4.98 CFPS 5 yr Running
-$3,526 $0 $0 $0 $0 $0 $0 $0 $0 $0 $9,235 Cash Flow
-$3,285 $0 $0 $0 $0 $9,235 Cash Flow
-$4.66 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5.06 Cash Flow per Share
OPM 20.31% 18.97% 17.95% 11.28% 7.10% 17.95% 10.33% 16.28% 2.06% 12.77% 17.05% 14.15% 17.01% 14.68% -5.22% <-Total Growth 10 OPM
Increase -2.62% -6.59% -5.36% -37.15% -37.11% 152.95% -42.43% 57.52% -87.32% 518.63% 33.50% -16.97% 20.23% -13.70% Should increase  or be stable.
Diff from Median 50.9% 40.9% 33.4% -16.2% -47.3% 33.3% -23.2% 20.9% -84.7% -5.1% 26.6% 5.1% 26.4% 9.1% 0.00 <-Median-> 10 OPM
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 13.46% 5 Yrs 14.15% should be  zero, it is a   check on calculations
$8,613 <-12 mths -11.72%
Adjusted EBITDA CDN$ $4,088 $4,036 $3,971 $2,804 $1,409 $3,236 $1,411 $4,143 $606 $8,086 $13,227 $10,201 $9,757 $11,371 $11,704 145.71% <-Total Growth 10 Adjusted EBITDA
Change 14.57% -1.27% -1.61% -29.39% -49.75% 129.67% -56.40% 193.62% -85.37% 1234.32% 63.58% -22.88% -4.35% 16.54% 2.93% -13.61% <-Median-> 10 Change
Margin 26.04% 23.96% 21.28% 14.28% 10.79% 26.67% 8.28% 19.88% 3.00% 61.13% 28.53% 15.25% 18.69% 20.95% 21.95% 16.97% <-Median-> 10 Margin
Per Share Basic $5.41 $5.34 $5.25 $3.42 $1.63 $2.94 $1.15 $3.37 $0.49 $3.95 $6.78 $5.38 $5.27 $6.06 $6.24 0.52% <-Total Growth 10 Per Share Basic
Leverage with EBITDA (D/EBITDA) 3.52 3.79 3.65 4.78 9.70 6.47 12.55 3.99 26.51 3.77 2.14 2.47 2.74 2.32 0.00 4.38 <-Median-> 10 Leverage with EBITDA
$3,713 <-12 mths -24.56%
EBIT -$2,113 $3,524 $10,352 $5,622 $4,922 $4,370 $4,673 $5,156
Change 266.78% 193.76% -45.69% -12.45% -11.21% 6.93% 10.34%
Margin -10.47% 26.64% 22.33% 8.40% 9.43% 8.05% 8.76% 10.43%
Long Term Debt CDN$ $5,458 $6,525 $6,332 $9,513 $8,482 $6,699 $7,441 $12,385 $8,691 $6,210 $7,342 $7,059 Debt
Change 19.55% -2.96% 50.24% -10.84% -21.02% 11.08% 66.44% -29.83% -28.55% 18.23% -3.85% 4.06% <-Median-> 10 Change
Ratio to Market Cap 0.30 0.45 0.37 0.67 0.72 0.41 0.78 0.40 0.17 0.12 0.18 0.16 0.41 <-Median-> 10 % of Market C.
Assets/Current Liabilities Ratio 8.35 13.88 9.46 9.23 13.53 14.17 13.89 7.41 6.97 8.68 7.68 7.82 9.34 <-Median-> 10 Assets/Current Liab Ratio
Debt to Cash Flow (Years) 1.55 4.43 7.35 3.11 3.94 2.04 27.26 2.09 0.76 0.84 0.80 0.90 2.60 <-Median-> 10 Debt to Cash Flow (Years)
Intangibles CDN$ $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 #DIV/0! <-Total Growth 10 Intangibles
Goodwill $739 $739 $242 $242 $242 $2,272 $2,272 $2,272 $2,272 $3,473 $2,923 $2,923 $2,923 $2,923 1107.85% <-Total Growth 10 Goodwill
Total $739 $739 $242 $242 $242 $2,272 $2,272 $2,272 $2,272 $3,473 $2,923 $2,923 $2,923 $2,984 1107.85% <-Total Growth 10 Total
Change -34.72% 0.00% -67.25% 0.00% 0.00% 838.84% 0.00% 0.00% 0.00% 52.86% -15.84% 0.00% 0.00% 2.09% 0.00% <-Median-> 10 Change
Ratio to Market Cap 0.03 0.03 0.01 0.02 0.01 0.16 0.19 0.14 0.24 0.11 0.06 0.06 0.07 0.07 0.09 <-Median-> 10 % of Market C.
Current Assets US$ $4,594 $5,275 $3,616 $4,675 $5,081 $3,992 $2,342 $2,528 $2,337 $9,456 $9,177 $7,340 $7,251 $6,748 100.53% <-Total Growth 10 Current Assets
Current Liabilities US$ $3,280 $3,553 $2,549 $1,342 $1,989 $3,536 $1,906 $1,941 $1,853 $5,762 $5,922 $4,695 $5,116 $5,096 100.73% <-Total Growth 10 Current Liabilities
Liquidity 1.40 1.48 1.42 3.48 2.55 1.13 1.23 1.30 1.26 1.64 1.55 1.56 1.42 1.32 1.48 <-Median-> 10 Ratio
Assets US$ $24,293 $23,716 $21,287 $18,625 $18,811 $32,629 $25,784 $27,497 $25,738 $42,676 $41,250 $40,764 $39,293 $39,832 84.59% <-Total Growth 10 Assets
Liabilities US$ $14,456 $14,364 $12,507 $9,677 $10,179 $16,701 $12,979 $12,713 $12,616 $24,054 $20,880 $19,056 $18,604 $18,840 48.76% <-Total Growth 10 Liabilities
Liquidity 1.68 1.65 1.70 1.92 1.85 1.95 1.99 2.16 2.04 1.77 1.98 2.14 2.11 2.11 1.98 <-Median-> 10 Ratio
Book Value US$ $9,837 $9,351 $8,780 $8,948 $8,632 $15,927 $12,805 $14,784 $13,122 $18,621 $20,370 $21,709 $20,689 $20,991
NCI $0 $0 $0 $0 $0 $0 $0 $0 $0 $9 $10 $11 $10 10.70
Book Value US$ $9,837 $9,351 $8,780 $8,948 $8,632 $15,927 $12,805 $14,784 $13,122 $18,612 $20,360 $21,698 $20,678 $20,980
Book Value US$ check. $9,837 $9,351 $8,780 $8,948 $8,632 $15,927 $12,805 $14,784 $13,122 $18,612 $20,360 $21,698 $20,678 $20,980
Current Assets CDN$ $4,579 $5,610 $4,195 $6,473 $6,822 $5,008 $3,195 $3,284 $2,976 $11,988 $12,430 $9,708 $10,434 $9,456 148.72% <-Total Growth 10 Current Assets
Current Liabilities CDN$ $3,270 $3,779 $2,957 $1,858 $2,671 $4,436 $2,600 $2,521 $2,359 $7,305 $8,021 $6,210 $7,362 $7,142 148.97% <-Total Growth 10 Current Liabilities
Liquidity 1.40 1.48 1.42 3.48 2.55 1.13 1.23 1.30 1.26 1.64 1.55 1.56 1.42 1.32 1.48 <-Median-> 10 Ratio
Liq. with CF aft div 2.24 2.23 2.34 3.89 2.81 1.76 1.96 2.50 1.34 2.43 2.89 2.59 2.50 2.22 2.50 <-Median-> 5 Ratio
Liq. CF re  Inv+Div  1.11 1.59 1.54 3.89 2.00 0.45 1.59 1.60 0.98 2.15 2.24 1.40 1.48 2.22 1.48 <-Median-> 5 Ratio
Assets CDN$ $24,216 $25,224 $24,695 $25,791 $25,258 $40,933 $35,174 $35,713 $32,770 $54,104 $55,869 $53,915 $56,539 $55,820 128.95% <-Total Growth 10 Assets
Liabilities CDN$ $14,410 $15,278 $14,509 $13,400 $13,668 $20,952 $17,706 $16,512 $16,063 $30,496 $28,280 $25,203 $26,770 $26,403 84.51% <-Total Growth 10 Liabilities
Asset/Liability 1.68 1.65 1.70 1.92 1.85 1.95 1.99 2.16 2.04 1.77 1.98 2.14 2.11 2.11 1.98 <-Median-> 10 Ratio
Estimates BVPS $17.05 $17.17 $17.68 Estimates Estimates BVPS
Estimate Book Value $31,116.9 $31,335.9 $32,266.7 Estimates Estimate Book Value
P/B Ratio (Close) 1.40 1.39 1.35 Estimates P/B Ratio (Close)
Difference from 10 year median 19.47% Diff M/C Estimates Difference from 10 yr med.
Book Value CDN$ $9,806 $9,946 $10,186 $12,391 $11,590 $19,981 $17,468 $19,201 $16,707 $23,608 $27,589 $28,712 $29,769 $29,417 192.25% <-Total Growth 10 Book Value
NCI $0 $0 $0 $0 $0 $0 $0 $0 $0 $12 $13 $14 $15 $15 NCI
Book Value CDN$ $9,806 $9,946 $10,186 $12,391 $11,590 $19,981 $17,468 $19,201 $16,707 $23,596 $27,576 $28,698 $29,754 $29,402 $29,402 $29,402 192.11% <-Total Growth 10 Book Value
BV per share $12.97 $13.16 $13.45 $14.87 $13.91 $16.26 $14.22 $15.63 $13.60 $11.79 $14.44 $15.33 $16.30 $16.11 $16.11 $16.11 21.18% <-Total Growth 10 Book Value per Share
Change 3.82% 1.40% 2.27% 10.53% -6.46% 16.91% -12.58% 9.92% -12.99% -13.27% 22.50% 6.14% 6.34% -1.18% 0.00% 0.00% 26.44% P/B Ratio Current/10 Year Median
P/B Ratio (Median) 2.69 2.37 2.01 1.40 1.34 0.91 0.82 0.77 0.58 1.01 1.63 1.62 1.53 1.26 0.00 0.00 1.54 P/B Ratio Historical Median
P/B Ratio (Close) 2.57 2.31 1.78 1.18 1.46 0.71 0.68 0.84 0.57 1.32 1.82 1.75 1.34 1.48 1.48 1.48 1.94% <-IRR #YR-> 10 Book Value per Share
Change -3.41% -9.94% -22.90% -33.94% 24.02% -51.63% -4.35% 25.09% -32.52% 130.76% 38.26% -3.89% -23.54% 11.04% 0.00% 0.00% 0.85% <-IRR #YR-> 5 Book Value per Share
Leverage (A/BK) 2.47 2.54 2.42 2.08 2.18 2.05 2.01 1.86 1.96 2.29 2.03 1.88 1.90 1.90 0.00 0.00 2.02 <-Median-> 10 A/BV
Debt/Equity Ratio 1.47 1.54 1.42 1.08 1.18 1.05 1.01 0.86 0.96 1.29 1.03 0.88 0.90 0.90 0.00 0.00 1.02 <-Median-> 10 Debt/Eq Ratio
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Med 1.17 5 yr Med 1.53 26.44% Diff M/C 2.14 Historical Leverage (A/BK)
$2,578 <-12 mths -39.30%
Comprehensive Income CDN$ $969 $803 $941 $1,231 -$655 $3,099 -$2,274 $1,983 -$2,431 $496 $7,236 $3,847 $4,247 351.33% <-Total Growth 10 Comprehensive Income
Increase -36.50% -17.13% 17.19% 30.82% -153.21% 573.13% -173.38% 187.20% -222.59% 120.40% 1358.87% -46.84% 10.40% 10.40% <-Median-> 5 Comprehensive Income
5 Yr Running Average $1,316 $972 $1,044 $1,094 $658 $1,084 $468 $677 -$56 $175 $1,002 $2,226 $2,679 16.27% <-IRR #YR-> 10 Comprehensive Income 351.33%
ROE 9.9% 8.1% 9.2% 9.9% -5.7% 15.5% -13.0% 10.3% -14.6% 2.1% 26.2% 13.4% 14.3% 16.45% <-IRR #YR-> 5 Comprehensive Income 114.17%
5Yr Median 9.9% 9.8% 9.8% 9.9% 9.2% 9.2% 9.2% 9.9% -5.7% 2.1% 2.1% 10.3% 13.4% 9.88% <-IRR #YR-> 10 5 Yr Running Average 4918.35%
% Difference from NI -2.4% 21.3% 26.5% 99.2% 20.2% -7.9% -14.8% -9.6% 2.2% -15.5% 12.2% -6.4% 35.2% 31.67% <-IRR #YR-> 5 5 Yr Running Average 4918.35%
Median Values Diff 5, 10 yr -2.1% 2.2% 13.4% <-Median-> 5 Return on Equity
Current Liability Coverage Ratio 1.11 0.96 1.18 0.91 0.53 0.66 0.64 1.48 0.06 0.97 1.36 1.39 1.09 1.10   CFO / Current Liabilities
5 year Median 1.11 0.97 0.97 0.97 0.96 0.91 0.66 0.66 0.64 0.66 0.97 1.36 1.09 1.10 1.09 <-Median-> 5 Current Liability Cov Ratio
Asset Efficiency Ratio 15.04% 14.31% 14.09% 6.56% 5.63% 7.12% 4.76% 10.43% 0.45% 13.14% 19.53% 16.05% 14.14% 14.03% CFO / Total Assets
5 year Median 14.76% 14.31% 14.31% 14.31% 14.09% 7.12% 6.56% 6.56% 5.63% 7.12% 10.43% 13.14% 14.14% 14.14% 14.1% <-Median-> 5 Return on Assets 
Return on Assets ROA 4.11% 2.47% 2.60% 1.73% -1.61% 6.55% -5.56% 4.73% -5.70% 0.86% 8.52% 5.76% 3.86% 4.10% Net  Income/Assets Return on Assets
5Yr Median 4.51% 4.11% 4.11% 2.60% 2.47% 2.47% 1.73% 1.73% -1.61% 0.86% 0.86% 4.73% 3.86% 4.10% 3.9% <-Median-> 5 Asset Efficiency Ratio
Return on Equity ROE 10.13% 6.66% 7.30% 4.99% -4.70% 16.85% -15.28% 11.43% -14.24% 2.49% 23.39% 14.32% 10.56% 10.91% Net Inc/ Shareholders' equity Return on Equity
5Yr Median 10.13% 9.91% 9.91% 7.30% 6.66% 6.66% 4.99% 4.99% -4.70% 2.49% 2.49% 11.43% 10.56% 10.91% 10.6% <-Median-> 5 Return on Equity
$2,676 <-12 mths -14.83%
Net Income CDN$ $993 $662 $744 $618 -$545 $3,366 -$2,669 $2,194 -$2,379 $587 $6,450 $4,109 $3,142 $3,209 $3,200 $3,602 322.31% <-Total Growth 10 Net Income
Increase -32.81% -33.33% 12.39% -16.94% -188.19% 717.61% -179.29% 182.20% -208.43% 124.67% 998.81% -36.29% -23.53% 2.13% -0.28% 12.56% EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average $1,563 $989 $974 $899 $494 $969 $303 $593 -$7 $220 $837 $2,192 $2,382 $3,499 $4,022 $3,452 15.50% <-IRR #YR-> 10 Net Income 322.31%
Operating Cash Flow $3,420 $3,539 $3,526 $1,474 $861 $3,059 $2,154 $3,285 $273 $5,919 $11,403 $7,388 $9,235 7.45% <-IRR #YR-> 5 Net Income 43.21%
Investment Cash Flow -3,336 -1,519 -1,519 888 -1,079 -12,866 -613 -1,432 -863 -942 -2,314 -5,295 -5,126 9.35% <-IRR #YR-> 10 5 Yr Running Average 144.54%
Total Accruals $909 -$1,358 -$1,263 -$1,744 -$327 $13,173 -$4,210 $341 -$1,789 -$4,390 -$2,639 $2,016 -$967 32.07% <-IRR #YR-> 5 5 Yr Running Average 301.79%
Total Assets $24,216 $25,224 $24,695 $25,791 $25,258 $40,933 $35,174 $35,713 $32,770 $54,104 $55,869 $53,915 $56,539 Balance Sheet Assets
Accruals Ratio 3.75% -5.38% -5.11% -6.76% -1.29% 32.18% -11.97% 0.95% -5.46% -8.11% -4.72% 3.74% -1.71% -4.72% <-Median-> 5 Ratio
EPS/CF Ratio 0.27 0.18 0.21 0.37 -0.38 1.29 -1.59 0.59 -16.22 0.08 0.56 0.46 0.38 0.38 <-Median-> 10 EPS/CF Ratio
Chge In Close CDN$ 0.27% -8.68% -21.15% -26.99% 16.00% -43.45% -16.38% 37.50% -41.29% 100.13% 69.37% 2.02% -18.69% 9.73% 0.00% 0.00% Count 30 Years of data
Accruals Ratio Is? up up up down up up up Count 17 56.67%
Predictive? Yes Yes Yes Yes Yes % right Count 7 41.18%
Financial Cash Flow CDN$ $592 -$726 -$797 $894 -$218 $6,515 -$1,410 -$2,413 -$590 -$2,507 -$7,676 -$4,313 -$3,505 C F Statement  Financial Cash Flow
Total Accruals $317 -$632 -$466 -$2,638 -$109 $6,658 -$2,800 $2,754 -$1,199 -$1,883 $5,037 $6,329 $2,538 Accruals
Accruals Ratio 1.31% -2.51% -1.89% -10.23% -0.43% 16.27% -7.96% 7.71% -3.66% -3.48% 9.02% 11.74% 4.49% Ratio
Count 30 Years of data
Accruals Ratio Is? down up down up down Count 11 36.67%
Predictive? Yes Yes Yes % right Count 5 45.45%
$1,910 <-12 mths -12.55%
Net Income US$ $996 $622 $641 $446 -$406 $2,683 -$1,956 $1,689 -$1,869 $463 $4,762 $3,107 $2,184 $2,290 $2,283 $2,570 240.49% <-Total Growth 10 Net Income
Increase -31.16% -37.52% 3.04% -30.41% -190.95% 761.04% -172.92% 186.34% -210.61% 124.78% 928.55% -34.76% -29.71% 4.87% -0.28% 12.56% EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average $1,421 $968 $941 $831 $460 $797 $282 $491 $28 $202 $618 $1,631 $1,729 $2,561 $2,925 $2,487 13.03% <-IRR #YR-> 10 Net Income 240.49%
Operating Cash Flow $3,431 $3,327 $3,039 $1,064 $641 $2,438 $1,579 $2,529 $214 $4,669 $8,419 $5,586 $6,418 5.27% <-IRR #YR-> 5 Net Income 29.27%
Investment Cash Flow -$3,347 -$1,428 -$1,309 $641 -$804 -$10,256 -$449 -$1,103 -$678 -$743 -$1,709 -$4,003 -$3,562 6.28% <-IRR #YR-> 10 5 Yr Running Average 83.86%
Total Accruals $912 -$1,277 -$1,089 -$1,259 -$244 $10,501 -$3,086 $263 -$1,405 -$3,463 -$1,948 $1,524 -$672 28.62% <-IRR #YR-> 5 5 Yr Running Average 252.03%
Total Assets $24,293 $23,716 $21,287 $18,625 $18,811 $32,629 $25,784 $27,497 $25,738 $42,676 $41,250 $40,764 $39,293 Balance Sheet Assets
Accruals Ratio 3.75% -5.38% -5.11% -6.76% -1.29% 32.18% -11.97% 0.95% -5.46% -8.11% -4.72% 3.74% -1.71% -4.72% <-Median-> 5 Ratio
Financial. C. F. US pre 09
Financial Cash. Flow. US$ $594 -$683 -$687 $646 -$162 $5,193 -$1,034 -$1,858 -$463 -$1,977 -$5,667 -$3,261 -$2,436 C F Statement  Financial Cash Flow
Total Accruals $318 -$594 -$402 -$1,905 -$81 $5,307 -$2,052 $2,120 -$942 -$1,485 $3,719 $4,785 $1,764 Accruals
Accruals Ratio 1.31% -2.51% -1.89% -10.23% -0.43% 16.27% -7.96% 7.71% -3.66% -3.48% 9.02% 11.74% 4.49% Ratio
Cash CDN$ $1,160 $2,452 $883 $4,105 $3,720 $610 $781 $186 $378 $2,873 $4,524 $2,227 $3,093 $2,563 Cash
Cash Per Share $1.53 $3.24 $1.17 $4.93 $4.46 $0.50 $0.64 $0.15 $0.31 $1.44 $2.37 $1.19 $1.69 $1.40 $1.44 <-Median-> 5 Cash per Share
Percentage of Stock Price 4.61% 10.67% 4.87% 28.15% 21.99% 4.32% 6.62% 1.15% 3.97% 9.26% 9.02% 4.44% 7.78% 5.87% 7.78% <-Median-> 5 % of Stock Price
Notes
October 25, 2025.  Last estimates were for 2024, 2025 and 2026 in CDN$ of $58050M, $55828M, $54744MM  Revenue, $4.91, $5.57 2024/5 AFFO, $2.35, $3.14 2024/5 FFO, 
$2.22, $2.35, $2.85 EPS, $0..76, $0.76, $0.83 Dividends, $4449M, $4258M, $5430M FCF, $3.49, $3.80, $4.05 CFPS, $10905M, $11371M, $11704M EBITDA, $16.44, $16.94, $17.52 BVPS, $4213M, $4185M, $4342M Net Income.
October 24, 2024.  Last estimates were for 2023, 2024, 2025 of $56371M, $62025M, $55348M for Revenue, $4.45, $5.65 2023/4 AFFO, $2.43, $3.07, $2.89 EPS, 
$0.54, $0.60, $0.73 for Div, $9348M, $6,835M, $6835M FCF, $4.90, $6.06, $6.21 CFPS, $11180M, $12465M, $12489M, Adj EBITDA, $15.40, $16.90, $18.10 BVPS, $4677M, $5714M, $5072M Net Income.
October 27, 2023.  Last estimates were for 68538M, $70604M and $57638M for Revenue, $4.10, $4.34 and $3.54 for EPS, $0.35, $0.49 and $0.53 for Dividends, 
$9477M, $9348M and $6835M for FCFm $6.26, $6.96 and $6.61 for CFPS, $7919M, $7164M and $5775M for Net Income.
October 28, 2022.  Last estimates were for in CDN$ for 2021, 2022 and 2023 for $41316M, $15374M and $15374M for Revenue, $1.13, $2.00 and $2.19 for EPS,
 $0.07, $0.08 and $0.11 for Divide nds, $4735<, $5567M and $5095M for FCF, $3.72, $480 and $5.13 for CFPS, and $2227M, $3388M and $2625M for Net Income.
October 24, 2021.  Last estimates were for $13987M, $15457Mand $15374M CDN$ for Revenue, -$2.07, -$0.73, and -$0.66 CDN$ for EPS, 
$0.07, $0.1 and $0 CDN$ for Dividends, -$639M, $450M and $1964M CDN$ for FCF, $0.15, $1.24 and $2.10 CDN$ for CFPS, -$2107M, -$1008M and-$619M CDN$ for Net Income.
November 6, 2020.  Last estimates were for 2019, 2020 and 2021 $20596M, $18140M and $15974M CDN$ for Revenue, $2.04, $0.05 and $0.51 CDN$ for EPS, 
$0.16, $0.19 and $0.20 CDN$ for Dividends, $3.14, $2.80 and $2.67 CDN$ for CFPS and $2301M, $749M and $683M CDN$ for Net Income
November 9, 2019.  Last estimates were for 22124M, $22373M and $22730M CDN$ for Revenue, -$0.86, $0.99 and $1.17 CDN$ for EPS, 
$1.79, $2.88 and $3.23 CDN$ for CFPS and -$1334M, $1226M and $1308M CDN$ for Net Income.
November 10, 2018.  Last estimates were for $17506M, $17951M and $19717M CDN$ Revenue, $2.70, $0.24 and 0.62 CDN$ EPS, 
$2.60, $2.14 and $2.59 for CFPS CDN$, $35 and $512 Net Income CDN$ for 2017 and 2018.
November 16, 2017.  Last estimates were for 2016, 2017 and 2018 of $11958M, $14323M and $14.396M for Revenue, -$0.72, $0.04 and $0.59 for EPS, 
$1.51, $2.14 and $2.72 for CFPS, -$574M, $35M and $512M for Net Income.
November 13, 2016.  Last estimates were for 2015, 2016 and 2017 of $13219M, $13972M and $14999M for Revenue, $1.07, -$0.13 and $0.48 for EPS, 
$2.23, $2.21 and $2.94 for CFPS and $927M, -$37M and $415M for Net Income.
November 18, 2015.  Last estimates were for 2014, 2015 and 2016 of $20261M, $19639M and $19850M for Revenue, $1.93, $1.70 and $1.65 for EPS, 
$5.00, $4.61 and 4.91 for CFPS and $1482M, $1373M and $1352M for Net Income. 
November 8, 2014.  Last estimates were for 2013, 2014 and 2015 of $17917M, $16900M and $17290M CDN$, $1.70, $1.90 and $2.04 for EPS, $4.21, $4.32 and $4.64 for CFPS.
November 17, 2013.  Last estamtes were for 2012 and 2013 of $16961 and 16183M for Revewnue $$2.02 and $2.20 for EPS.
Nov 12, 2012.  The last estimates were for 2011 and 2012 of $14.290M and $14.948M CDN$. $1.80 and $2.25 EPS CDN$ amd $4.15 and $4.42 CDN$ CF.
Oct 2011.  Last I looked I got esitamtes for 2010 and 2011 of $1.35 and $1.65 for Earnings and $3.20 and $4.13 for Cash Flow.
Oct 2010 NOTE:  for changes in 2009, I did not adjust ROE lines to the end of the spreadsheet.  ROE is simply net income over book value so it is a relative value.  I was not looking for increase in net income
 over a period of time.  Also, note that Cenovus Engergy is reporting in CDNS and I used these reports.  I put the original ECA spreadsheet into Old_Research_portfolio file.
I was reading the split and the company looked at it as a 50/50 split, but the market not quite so simple.  However, I am dealing with the split as 50/50.
On November 30, 2009 stock worth $56.57.  On Dec 2nd, shares worth $56.43.  On Dec 3rd, worth 28.81.  Stock did not fall until Dec 3rd.
This company split into two companies in the later part of 2009. A a special resolution was approved on the Arrangement to divide the Corporation into two 
highly focused and independent, publicly traded companies - Encana Corporation and Cenovus Energy Inc.
Oct 10, 2010.  When I last looked at this company, I got 2009 and 2010 estimates of $3.80 and $3.00 for earnings and $10 and $9 for CF in US$.
May 13, 2008, since I last looked at this stock, the CDN US currency gap as narrowed.  This shows up in the dividend being lower in CDN$.
Apr 11 2009 AR 2008
AP 2007.  It has of course done very well as it is in Oil.  I have done well and will do so while oil is high.
AP 2006.  TD still rates this a buy.  I have done well with this stock, but lets face it, I only have 100 shares so it is not going to affect much.
AP 2005. TD Newcrest is still rating this a buy.  I have very little into resources.  Good to hold for now.
I think I can make money on this stock.  They can make a profit.
Called Alberta Energy Co. - to 2001
I do not know where I got 2001 figures from, all reports seem different from mine.
Split 2009 value of shares
bacically halfed all values and kept shares same value. This should make spreadsheet correct for past values.
Sector
Energy, Resources
What should this stock accomplish?
Personally, I buy resource stocks when they are low and sell when they are high.  Rsecource stocks always are boom and bust and it is always best to buy at bust times.
Would I buy this company and Why.
If I wanted to buy a resource stock, I would consider this one.  
Why I bought & sold this stock.
I do not own this stock of Cenovus Energy but I used to. I had held this stock previously as Alberta Energy Company from April 2000 until August 2002 and made some 18% total returns per year.    
Why am I following this stock. 
I had held this stock previously as Alberta Energy Company from April 2000 until August 2002.     
Why am I following this stock. 
This is another stock that was talked about at the 2010 Money Show in Toronto.  There were those who liked oil companies and they mentioned both Suncor Energy Inc. (TSX-SU) and Cenovus 
Energy Inc. (TSX-CVE).  This company was split off from EnCana (TSX-ECA) in 2009.   My spreadsheet reflects this split.  I was also following Alberta Energy Co. (TSX-AEC) into EnCana. 
Dividends
Third cycle dividends.  Dividends are paid near the end of the months of March, June, September and December. Dividends are declared for shareholders of record in one month and paid in that month.
For example dividends declared for shareholders of record of March 15, 2013 were paid on March 28, 2013.
How they make their money
Cenovus Energy Inc is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, 
natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S.   The company had upstream projects across Western Canada; crude oil production and natural gas and 
NGLs production offshore China and Indonesia. The downstream operations include upgrading and refining operations in Canada and the U.S., and commercial fuel operations across Canada.
Alberta Energy Company Ltd. (AEC) and PanCanadian Energy Corporation (PanCanadian) companies merged to form EnCana in April 2002. EnCana split into EnCana and Cenovus (Nov 2009).
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.
On Nov 22 2013
Selling last 30 days
Officers - sale price
Shares; '%, Value $M %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Change
Date 2017 Nov 10 2018 Nov 11 2019 Nov 06 2020 Oct 24 2021 Oct 28 2022 Oct 28 2023 Oct 24 2024 Oct 25 2025 Was CFO, in 2021 COO
McKenzie, Jonathan 0.000 0.00% 0.102 0.01% 0.129 0.01% 0.255 0.01% 0.433 0.02% 0.585 0.03% 0.937 0.05% 1.140 0.06% CEO 2023 21.65%
CEO - Shares - Amount $0.000 $1.343 $1.003 $3.950 $11.371 $15.672 $20.418 $27.255
Options - percentage 0.602 0.05% 1.139 0.09% 1.803 0.15% 2.550 0.13% 0.865 0.05% 1.184 0.06% 1.652 0.09% 2.732 0.15% 65.38%
Options - amount $5.784 $15.031 $13.972 $39.546 $22.722 $31.728 $35.995 $65.322
Sandhar, Karamjit Singh 0.079 0.00% 0.101 0.01% 0.138 0.01% 0.200 0.01% 44.27%
CFO - Shares - Amount $2.082 $2.700 $3.014 $4.772
Options - percentage 0.445 0.02% 0.423 0.02% 0.576 0.03% 0.927 0.05% 60.79%
Options - amount $11.678 $11.329 $12.561 $22.161
Lawson, Jeff 0.141 0.01% 0.172 0.01% 22.00%
Officer- Shares - Amount $3.064 $4.102
Options - percentage 0.170 0.01% 0.395 0.02% 132.35%
Options - amount $3.701 $9.437
Anderson-Olney, Susan Mary 0.010 0.00% 0.010 0.00% 0.011 0.00% 0.020 0.00% 80.47%
Officer - Shares - Amount $0.256 $0.275 $0.246 $0.488
Options - percentage 0.162 0.01% 0.175 0.01% 0.189 0.01% 0.342 0.02% 81.53%
Options - amount $4.246 $4.699 $4.108 $8.184
Ruste, Ivor Melvin 0.01% ceased insider Apr 2018
CFO - Shares - Amount $0.728
Options - percentage 0.11%
Options - amount $16.174
Chiasson, Keith 0.068 0.01% 0.099 0.00% 0.115 0.01% 0.129 0.01% 0.158 0.01%
Officer - Shares - Amount $0.524 $1.533 $3.027 $3.463 $3.454
Options - percentage 0.860 0.07% 1.191 0.06% 0.922 0.05% 0.948 0.05% 0.556 0.03%
Options - amount $6.665 $18.472 $24.215 $25.408 $12.110
Chhina, Harbir Singh 0.04% 0.529 0.04% 0.533 0.04% 0.536 0.04% Filed last 2019
Officer - Shares - Amount $6.036 $5.078 $7.031 $4.154 Ceased insider Jan 2021
Options - percentage 0.15% 2.062 0.17% 2.243 0.18% 2.375 0.19%
Options - amount $21.285 $19.799 $29.603 $18.404
not found 2018
Brannan, John
Officer - Shares - Amount
Options - percentage
Options - amount
Kvisle, Harold N. 0.132 0.01% 0.149 0.01% 0.149 0.01% 0.149 0.01% Ceased insider May 2024
Director - Shares - Amount $1.023 $2.311 $3.914 $3.993
Options - percentage 0.036 0.00% 0.059 0.00% 0.085 0.00% 0.099 0.01%
Options - amount $0.280 $0.913 $2.240 $2.645
Crothers, Michael John 0.003 0.00% 0.006 0.00% 96.72%
Director - Shares - Amount $0.066 $0.143
Options - percentage 0.013 0.00% 0.027 0.00% 114.41%
Options - amount $0.278 $0.654
Casey Keith Michael 0.018 0.00% 0.018 0.00% 0.018 0.00% 0.020 0.00% 13.02%
Director - Shares - Amount $0.465 $0.474 $0.385 $0.478
Options - percentage 1.202 0.06% 0.057 0.00% 0.070 0.00% 0.094 0.01% 33.51%
Options - amount $31.587 $1.540 $1.531 $2.243
Cunningham, Ralph Sanford Ceased to be insider
Director - Shares - Amount on April 27, 2016
Options - percentage
Options - amount
Pourbaix, Alex 0.03% 0.510 0.04% 0.629 0.05% 0.694 0.06% 0.786 0.04% 1.202 0.06% 1.278 0.07% 1.437 0.08% 1.445 0.08% Used to be CEO, Chair 2023 0.56%
Chairman - Shares - Amount $4.902 $4.891 $8.309 $5.375 $12.191 $31.587 $34.249 $31.307 $34.546
Options - percentage 0.08% 2.167 0.18% 3.399 0.28% 5.269 0.43% 6.998 0.35% 3.849 0.20% 4.071 0.22% 2.485 0.14% 2.262 0.12% -8.98%
Options - amount $10.815 $20.805 $44.867 $40.837 $108.546 $101.100 $109.103 $54.146 $54.080
MacPhail, Keith A. J. 0.346 0.03% 0.480 0.04% 0.616 0.03% 0.696 0.04% Appointed Chairman 2020
Chairman - Shares - Amt $4.567 $3.720 $9.554 $18.284 Ceased inside Apr 2023
Options - percentage 0.032 0.00% 0.056 0.00% 0.074 0.00% 0.106 0.01%
Options - amount $0.424 $0.434 $1.151 $2.787
Mongeau, Claude 0.339 0.02% 0.339 0.02% 0.347 0.02% 0.347 0.02% 0.00%
Leader Independent Dir- Shares - Amt $8.919 $9.098 $7.565 $8.301
Options - percentage 0.127 0.01% 0.135 0.01% 0.150 0.01% 0.182 0.01% 21.33%
Options - amount $3.343 $3.606 $3.261 $4.341
Grandin, Michael Anthony
Chairman - Shares - Amt
Options - percentage
Options - amount
Increase in O/S Shares 0.00% 0.000 0.00% 0.000 0.00% 0.038 0.00% 0.042 0.00% 0.535 0.03% 11.069 0.58% 3.679 0.20% 5.049 0.28% Yes 0 for 2015, 2018. 2019
due to SO $0.000 $0.000 $0.000 $0.365 $0.326 $8.298 $290.783 $98.597 $110.018
Book Value $0.000 $0.000 $0.000 $0.000 $0.398 $7.000 $170.000 $58.000 $68.000
Insider Buying -$6.745 -$1.798 -$4.943 -$3.007 -$4.827 -$7.573 -$6.138 -$11.372 -$5.715
Insider Selling $0.001 $0.014 $0.189 $0.000 $0.037 $127.381 $51.299 $92.225 $0.000
Net Insider Selling -$6.745 -$1.784 -$4.754 -$3.007 -$4.790 $119.808 $45.161 $80.853 -$5.715
% of Market Cap -0.05% -0.02% -0.03% -0.03% -0.02% 0.24% 0.09% 0.20% -0.01%
Directors 12 12 11 12 12 12 13 14
Women 18% 2 17% 3 25% 3 27% 3 25% 3 25% 4 33% 4 31% 5 36%
Minorities 0% 0 0% 0 0% 0 0% 2 17% 2 17% 1 8% 1 8% 1 7%
Institutions/Holdings 61.99% 487 61.99% 20 20 116.06% 20 79.39% 20 37.82% 20 61.15% 20 61.15% Does not make sense
Total Shares Held 61.99% 783.954 63.80% 1,122.240 91.33% 1,426.119 116.05% 1,532.978 76.60% 717.291 38.32% 1,135.043 62.19% 647.418 35.47% and funds have 309M
Increase/Decrease 0.83% 3.378 0.43% 0.432 0.04% 8.626 0.61% 4.915 0.32% -105.625 -12.84% -69.775 -5.79% -9.857 -1.50%
Starting No. of Shares Reuters 780.576 Reuters 1,121.808 Top 20 1,417.493 Top 20 1,528.063 Top 20 822.916 Top 20 1,204.818 Top 20 657.275 Top 20 0.00% Institutions
26.61% Funds
26.61%
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