This report should not be construed as providing investment advice. It is for educational purposes only.  Before making any investment decision, you should always do your own research or consult a investment professional.															Estimates	Estimates	Estimates					Power calculations see Aden
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet.															Q1 2024	<-Estimates
See my website on stocks or see my blog at the following sites.							https://spbrunner.com/stocks.html				https://spbrunner.blogspot.com/				30-Jun-26	<-Estimates
Saputo Inc						TSX:	SAP	OTC:	SAPIF	http://www.saputo.com/			Fiscal Yr:	Mar 31
Year	31-Mar-13	31-Mar-14	31-Mar-15	31-Mar-16	31-Mar-17	31-Mar-18	31-Mar-19	31-Mar-20	31-Mar-21	31-Mar-22	31-Mar-23	31-Mar-24	31-Mar-25	31-Mar-26	31-Mar-27	31-Mar-28	31-Mar-29		Value	Description	#Y	Item	Total G
Accounting Rules	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS					Accounting Rules
Split Date			9/30/14																				Split Date
Split			2																				Split
Operating Costs	$6,437	$8,213	$9,596	$9,817	$9,873	$10,278	$12,281	$13,476	$12,823	$13,880	$16,290	$15,833	$17,496	$15,892					61.88%	<-Total Growth	10	Operating Costs
Change	5.53%	27.59%	16.85%	2.31%	0.57%	4.10%	19.49%	9.73%	-4.84%	8.24%	17.36%	-2.81%	10.50%	-9.17%					6.17%	<-Median->	10	Change
Ratio to Revenue	0.88	0.89	0.90	0.89	0.88	0.89	0.91	0.90	0.90	0.92	0.91	0.91	0.92	0.91					0.91	<-Median->	10	Ratio to Revenue
															$17,298	<-12 mths	-1.44%			Estimates		last 12 months from Qtr.
Revenue*	$7,298	$9,233	$10,658	$10,992	$11,163	$11,543	$13,502	$14,944	$14,294	$15,035	$17,843	$17,342	$19,061	$17,551	$17,922	$18,374	$18,695		59.68%	<-Total Growth	10	Revenue
Increase	5.30%	26.52%	15.43%	3.13%	1.56%	3.40%	16.98%	10.68%	-4.35%	5.18%	18.68%	-2.81%	9.91%	-7.92%	2.11%	2.52%	1.75%		4.79%	<-IRR #YR->	10	Revenue	59.68%
5 year Running Average	$6,371.5	$7,059.4	$8,028.8	$9,022.0	$9,868.5	$10,717.4	$11,571.2	$12,428.4	$13,088.9	$13,863.4	$15,123	$15,891.5	$16,715.0	$17,366.4	$17,943.8	$18,050.0	$18,320.6		4.19%	<-IRR #YR->	5	Revenue	22.79%
Revenue per Share	$18.56	$23.67	$27.17	$28.00	$28.90	$29.79	$34.60	$36.57	$34.67	$36.08	$42.32	$40.87	$45.56	$43.33	$44.24	$45.36	$46.15		6.77%	<-IRR #YR->	10	5 yr Running Average	92.49%
Increase	6.60%	27.52%	14.82%	3.05%	3.21%	3.09%	16.14%	5.68%	-5.20%	4.07%	17.31%	-3.43%	11.49%	-4.91%	2.11%	2.52%	1.75%		5.82%	<-IRR #YR->	5	5 yr Running Average	32.68%
5 year Running Average	$15.75	$17.69	$20.32	$22.96	$25.26	$27.51	$29.69	$31.57	$32.91	$34.34	$36.85	$38.10	$39.90	$41.63	$43.26	$43.87	$44.93		4.46%	<-IRR #YR->	10	Revenue per Share	54.72%
P/S (Price/Sales) Med	1.31	1.28	1.27	1.38	1.48	1.43	1.21	1.08	1.03	0.89	0.72	0.70	0.73	0.80	0.86	0.00	0.00		4.56%	<-IRR #YR->	5	Revenue per Share	24.98%
P/S (Price/Sales) Close	1.39	1.18	1.28	1.49	1.59	1.39	1.32	0.91	1.09	0.82	0.83	0.65	0.54	1.00	0.92	0.90	1.03		6.13%	<-IRR #YR->	10	5 yr Running Average	81.31%
P/S 10 Year Median	1.10	1.18	1.24	1.27	1.27	1.28	1.28	1.28	1.27	1.27	1.24	1.15	1.06	0.96	0.87	0.83	0.76		4.82%	<-IRR #YR->	5	5 yr Running Average	26.52%
*Revenue in M CDN $						P/S Med	20 yr	1.18	15 yr	1.21	10 yr	0.96	5 yr	0.73		-3.87%	Diff M/C
				-$10,991.5	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$17,551.0
									-$14,293.9	$0.0	$0.0	$0.0	$0.0	$17,551.0
				-$9,022.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$17,366.4
									-$13,088.9	$0.0	$0.0	$0.0	$0.0	$17,366.4
				-$28.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$43.33
									-$34.67	$0.00	$0.00	$0.00	$0.00	$43.33
				-$22.96	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$41.63
									-$32.91	$0.00	$0.00	$0.00	$0.00	$41.63
Amount															$767.9	<-12 mths	2.25%			Estimates		Last 12 months from Qtr
Per Share															$1.86	<-12 mths	2.20%			Estimates		Last 12 months from Qtr
Payout Ratio Adj EPS															42.42%	40.83%				Estimates		Payout Ratio EPS
Adjusted Profit CDN$	$510.6	$567.0	$582.8	$626.9	$731.1	$704.2	$623.6	$724.0	$715.0	$485.0	$755.0	$654.0	$619.0	$751.0					19.80%	<-Total Growth	10	Adjusted Profit CDN$
Return on Equity ROE	22.15%	20.42%	16.37%	15.66%	16.91%	14.68%	11.50%	11.04%	11.10%	7.46%	10.57%	9.28%	8.87%	11.04%					11.04%	<-Median->	10	Return on Equity ROE
5Yr Median		21.72%	21.72%	20.42%	16.91%	16.37%	15.66%	14.68%	11.50%	11.10%	11.04%	10.57%	9.28%	9.28%					11.30%	<-Median->	10	5 Yr Median
Basic	$2.58	$1.45	$1.48	$1.60	$1.87	$1.82	$1.60	$1.81	$1.74	$1.17	$1.80	$1.54	$1.46	$1.83					14.38%	<-Total Growth	10	AEPS
AEPS* Dilued	$2.55	$1.43	$1.46	$1.58	$1.85	$1.80	$1.59	$1.80	$1.74	$1.17	$1.80	$1.54	$1.46	$1.82	$2.11	$2.40	$2.70		15.19%	<-Total Growth	10	AEPS
Increase	3.24%	-43.92%	2.10%	8.22%	16.84%	-2.50%	-11.67%	13.21%	-3.33%	-32.76%	53.85%	-14.44%	-5.19%	24.66%	15.93%	13.74%	12.50%		10	0	10	Years of Data, EPS P or N	100.00%
5 year Running Average		$2.10	$2.02	$1.90	$1.77	$1.62	$1.66	$1.72	$1.76	$1.62	$1.62	$1.61	$1.54	$1.56	$1.75	$1.87	$2.10		1.42%	<-IRR #YR->	10	AEPS	15.19%
AEPS Yield	9.89%	5.14%	4.19%	3.79%	4.02%	4.35%	3.49%	5.41%	4.60%	3.95%	5.11%	5.78%	5.88%	4.19%	5.16%	5.87%	5.67%		0.90%	<-IRR #YR->	5	AEPS	4.60%
Payout Ratio	16.08%	31.47%	34.59%	33.86%	31.69%	35.00%	41.19%	37.50%	39.94%	60.68%	40.00%	47.73%	51.71%	43.41%	37.91%	33.33%	29.63%		-1.95%	<-IRR #YR->	10	5 yr Running Average	-17.91%
5 year Running Average		17.40%	20.18%	23.87%	28.03%	33.33%	35.16%	35.75%	36.92%	41.54%	42.65%	43.91%	46.89%	47.63%	43.53%	41.59%	37.61%		-2.36%	<-IRR #YR->	5	5 yr Running Average	-11.24%
Price/AEPS Median	9.56	21.12	23.69	24.47	23.11	23.75	26.29	22.01	20.58	27.47	17.04	18.70	22.75	19.00	17.93	0.00	0.00		22.38	<-Median->	10	Price/AEPS Median
Price/AEPS High	10.13	19.94	25.51	26.35	26.28	26.38	28.65	25.53	23.77	35.94	20.65	23.79	21.88	23.95	21.36	0.00	0.00		24.74	<-Median->	10	Price/AEPS High
Price/AEPS Low	7.94	16.19	18.86	18.23	20.50	22.19	23.67	21.04	16.99	23.16	13.72	16.65	15.66	13.24	17.93	0.00	0.00		18.75	<-Median->	10	Price/AEPS Low
Price/AEPS Close	10.11	19.47	23.84	26.35	24.86	22.97	28.65	18.49	21.72	25.31	19.56	17.31	17.01	23.88	19.39	17.05	17.64		22.35	<-Median->	10	Price/AEPS Close
Trailing P/AEPS Close		10.92	24.34	28.52	29.04	22.40	25.31	20.94	20.99	17.02	30.09	14.81	16.12	29.77	22.48	19.39	19.84		21.70	<-Median->	10	Trailing P/AEPS Close
Median Values	P/CF	Historical	in order	21.12	23.79	16.65	19.56	P/AEPS	5 Yrs	in order	19.00	23.79	15.66	19.56		2.06%	Diff M/C					DPR 75% to 95% best
* Adjusted Earnings per Share
				-$1.58	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.82
									-$1.74	$0.00	$0.00	$0.00	$0.00	$1.82
				-$1.90	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.56
									-$1.76	$0.00	$0.00	$0.00	$0.00	$1.56
															$1.66	<-12 mths	1.84%			Estimates		Last 12 months from Qtr
Difference Basic and Diluted	1.23%	1.10%	1.29%	1.31%	1.08%	1.36%	0.52%	0.68%	0.65%	0.00%	0.67%	0.00%	0.00%	0.61%					0.63%	<-Median->	10	Difference Basic and Diluted
Pre-split '14	$2.44	$2.73
EPS Basic	$1.22	$1.37	$1.55	$1.53	$1.86	$2.21	$1.94	$1.46	$1.53	$0.66	$1.49	$0.63	-$0.41	$1.64					7.19%	<-Total Growth	10	EPS Basic
Pre-split '02
Pre-split '07
Pre-split '14	$2.41	$2.70
EPS Diluted*	$1.21	$1.35	$1.53	$1.51	$1.84	$2.18	$1.93	$1.45	$1.52	$0.66	$1.48	$0.63	-$0.41	$1.63	$2.20	$2.50	$2.70		7.95%	<-Total Growth	10	EPS Diluted
Increase	29.57%	12.03%	13.33%	-1.31%	21.85%	18.48%	-11.47%	-24.87%	4.83%	-56.58%	124.24%	-57.43%	-165.08%	497.56%	34.97%	13.64%	8.00%		9	1	10	Years of Data, EPS P or N	90.00%
Earnings Yield	4.67%	4.85%	4.40%	3.63%	4.01%	5.27%	4.24%	4.36%	4.02%	2.23%	4.20%	2.36%	-1.65%	3.75%	5.38%	6.11%	5.67%		0.77%	<-IRR #YR->	10	Earnings per Share	7.95%
5 year Running Average	$0.96	$1.10	$1.22	$1.31	$1.49	$1.68	$1.80	$1.78	$1.78	$1.55	$1.41	$1.15	$0.78	$0.80	$1.11	$1.31	$1.72		1.41%	<-IRR #YR->	5	Earnings per Share	7.24%
10 year Running Average	$0.76	$0.84	$0.94	$1.05	$1.17	$1.32	$1.45	$1.50	$1.54	$1.52	$1.55	$1.47	$1.28	$1.29	$1.33	$1.36	$1.44		-4.80%	<-IRR #YR->	10	5 yr Running Average	-38.85%
* Diluted ESP per share										E/P	10 Yrs	4.02%	5Yrs	2.36%					-14.86%	<-IRR #YR->	5	5 yr Running Average	-55.27%
				-$1.51	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.63
									-$1.52	$0.00	$0.00	$0.00	$0.00	$1.63
				-$1.31	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.80
									-$1.78	$0.00	$0.00	$0.00	$0.00	$0.80
Dividends paid in Cash	$161.65	$175.32	$197.70	$210	$228	$244	$254.6	$269.7	$204.6	$209.00	$199.00	$245.00	$320.00	$324.00					54.29%	<-Total Growth	10	Dividends paid in Cash
% of Net Income	42.45%	36.38%	37.09%	34.56%	37.93%	33.37%	29.87%	35.71%	35.11%	33.41%	31.81%	39.39%	39.39%	39.39%					35.41%	<-Median->	0	% of Net Income
Dividend*															$0.90	$0.98	$0.89			Estimates		Dividend*
Increase															13.29%	9.50%	-9.18%			Estimates		Increase
Payout Ratio EPS															40.68%	39.20%	32.96%			Estimates		Payout Ratio EPS
Special Dividends	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00		$0.00	<-Median->	10	Special Dividends
Pre-split '02
Pre-split '07
Pre-split '14	$0.82	$0.90
Dividend*	$0.41	$0.45	$0.51	$0.54	$0.59	$0.63	$0.66	$0.68	$0.70	$0.71	$0.72	$0.74	$0.76	$0.79	$0.80	$0.80	$0.80		47.66%	<-Total Growth	10	Dividends
Increase	12.33%	9.76%	12.22%	5.94%	9.35%	7.69%	3.97%	3.05%	2.96%	2.16%	1.41%	2.08%	2.72%	4.64%	1.27%	0.00%	0.00%		26	0	29	Years of data, Count P, N
Average Increases 5 Year Running	10.37%	11.30%	12.32%	9.32%	8.54%	8.00%	5.94%	5.23%	3.76%	2.54%	1.98%	1.78%	1.73%	2.25%	2.22%	1.77%	1.19%		3.15%	<-Median->	10	5 year Increases
Dividends 5 Yr Running	$0.33	$0.37	$0.41	$0.45	$0.50	$0.54	$0.58	$0.62	$0.65	$0.67	$0.69	$0.71	$0.72	$0.74	$0.76	$0.78	$0.79		63.80%	<-Total Growth	10	Dividends 5 Yr Running
Yield H/L Price	1.68%	1.49%	1.46%	1.38%	1.37%	1.47%	1.57%	1.70%	1.94%	2.21%	2.35%	2.55%	2.27%	2.28%	2.11%				2.08%	<-Median->	10	Yield H/L Price	Item
Yield on High  Price	1.59%	1.58%	1.36%	1.28%	1.21%	1.33%	1.44%	1.47%	1.68%	1.69%	1.94%	2.01%	2.36%	1.81%	1.78%				1.68%	<-Median->	10	Yield on High  Price	EPS
Yield on Low Price	2.03%	1.94%	1.83%	1.86%	1.55%	1.58%	1.74%	1.78%	2.35%	2.62%	2.91%	2.87%	3.30%	3.28%	2.11%				2.49%	<-Median->	10	Yield on Low Price	AEPS
Yield on Close Price	1.59%	1.62%	1.45%	1.28%	1.27%	1.52%	1.44%	2.03%	1.84%	2.40%	2.05%	2.76%	3.04%	1.82%	1.96%	1.96%	1.68%		1.93%	<-Median->	10	Yield on Close Price	CFPS
Payout Ratio EPS	34.02%	33.33%	33.01%	35.43%	31.79%	28.90%	33.94%	46.55%	45.72%	107.58%	48.65%	116.67%	N/C	48.47%	36.36%	32.00%	29.63%		$0.33	<-Median->	28	DPR EPS	FCF
DPR EPS 5 Yr Running	34.27%	33.30%	33.51%	34.71%	33.42%	32.16%	32.37%	34.57%	36.32%	43.48%	49.08%	61.59%	93.17%	92.98%	68.72%	59.24%	45.77%		$0.34	<-Median->	25	DPR EPS 5 Yr Running
Payout Ratio CFPS	24.97%	26.75%	25.73%	24.78%	21.05%	30.17%	28.90%	26.60%	26.58%	42.70%	29.62%	26.19%	28.79%	21.22%	21.98%	0.00%	0.00%		$0.25	<-Median->	29	DPR CF
DPR CF 5 Yr Running	23.70%	24.35%	25.38%	25.86%	24.30%	25.35%	25.85%	26.03%	26.37%	30.12%	30.01%	29.33%	29.78%	28.01%	24.96%	0.00%	0.00%		$0.25	<-Median->	25	DPR CF 5 Yr Running
Payout Ratio CFPS WC	19.03%	17.37%	18.26%	17.60%	17.07%	19.20%	21.09%	19.39%	18.54%	26.23%	19.98%	19.66%	19.62%	18.11%	21.98%	0.00%	0.00%		$0.19	<-Median->	29	DPR CF WC
DPR CF WC 5 Yr Running	19.16%	18.16%	17.68%	17.92%	17.78%	17.91%	18.63%	18.86%	19.01%	20.62%	20.76%	20.46%	20.49%	20.32%	19.80%	0.00%	0.00%		$0.19	<-Median->	25	DPR CF WC 5 Yr Running
Median Values		10 Yr Med	10 Yr Cl	2.08%	1.93%	5 Yr Med	5 Yr Cl	2.28%	2.40%	5 Yr Med	Payout	78.11%	28.79%	19.66%					2.60%	<-IRR #YR->	5	Dividends	13.67%
* Dividends per share		10 Yr Med	and Cur.	-5.76%	1.15%	5 Yr Med	and Cur.	-14.42%	-18.45%	Last Div Inc --->		$0.19	$0.19	2.70%					3.97%	<-IRR #YR->	10	Dividends	47.66%
Dividends Growth 15																			6.38%	<-IRR #YR->	15	Dividends	152.80%
Dividends Growth 20																			7.68%	<-IRR #YR->	20	Dividends	338.89%
Dividends Growth 25																			12.14%	<-IRR #YR->	25	Dividends	1655.56%
Dividends Growth 30																			0.00%	<-IRR #YR->	27	Dividends
Dividends Growth 5									-$0.70	$0.00	$0.00	$0.00	$0.00	$0.79								Dividends Growth 5
Dividends Growth 10				-$0.54	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.79								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	$0.00	$0.79								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	$0.00	$0.79								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	$0.00	$0.79								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	$0.00	$0.79									Div Yd
Historical Dividends		Historical	High Div	2.91%	Low Div	0.69%	10 Yr High	3.30%	10 Yr Low	1.22%	Med Div	1.68%	Close Div	1.62%								Historical Dividends	4.28%
High/Ave/Median Values		Curr diff	Exp.	-32.80%		64.72%	Exp.	-40.74%		60.29%	Cheap	16.40%	Cheap	21.00%								High/Ave/Median	10.64%
																							26.48%
Adjusted Historical Dividends		Historical	High Div	2.91%	Low Div	0.69%	10 Yr High	3.30%	10 Yr Low	1.23%	Med Div	1.68%	Close Div	1.62%								Adjusted Historical Dividends	65.88%
High/Ave/Median Values		Curr diff	Exp.	-32.80%		183.41%	Exp.	-40.74%		58.98%	Cheap	16.40%	Cheap	21.00%								High/Ave/Median	163.93%
Future Dividend Yield						Div Yield	$0.02	earning in	5	Years	at IRR of	2.60%	Div Inc.	13.67%								Future Dividend Yield	Also, assuming the same dividend increases for the future,
Future Dividend Yield						Div Yield	2.53%	earning in	10	Years	at IRR of	2.60%	Div Inc.	29.21%								Future Dividend Yield	your initial cost would be covered 93.72% based on current
Future Dividend Yield						Div Yield	2.87%	earning in	15	Years	at IRR of	2.60%	Div Inc.	46.87%								Future Dividend Yield	stock cost of $99.36 CDN$.
Future Dividend Paid						Div Paid	$0.91	earning in	5	Years	at IRR of	2.60%	Div Inc.	13.67%								Future Dividend Paid	Div Pd
Future Dividend Paid						Div Paid	$1.03	earning in	10	Years	at IRR of	2.60%	Div Inc.	29.21%								Future Dividend Paid	$0.91
Future Dividend Paid						Div Paid	$1.17	earning in	15	Years	at IRR of	2.60%	Div Inc.	46.87%								Future Dividend Paid	$1.03
																							$1.17
Dividend Covering Cost						Total Div	$4.21	over	5	Years	at IRR of	2.60%	Div Cov.	10.30%								Dividend Covering Cost
Dividend Covering Cost						Total Div	$8.09	over	10	Years	at IRR of	2.60%	Div Cov.	19.78%								Dividend Covering Cost
Dividend Covering Cost						Total Div	$12.50	over	15	Years	at IRR of	2.60%	Div Cov.	30.56%								Dividend Covering Cost
Yield if held 5 years	3.32%	3.58%	3.12%	2.84%	2.66%	2.58%	2.17%	1.95%	1.80%	1.66%	1.68%	1.76%	1.91%	2.21%	2.49%	2.61%	2.78%		1.93%	<-Median->	10	Paid Median Price
Yield if held 10 years	6.01%	6.08%	5.88%	5.28%	4.99%	5.09%	5.21%	4.17%	3.68%	3.23%	2.95%	2.43%	2.18%	2.04%	1.88%	1.87%	1.91%		3.46%	<-Median->	10	Paid Median Price
Yield if held 15 years			11.54%	9.10%	9.26%	9.24%	8.85%	7.86%	6.86%	6.06%	5.82%	5.84%	4.66%	4.19%	3.64%	3.28%	2.65%		6.46%	<-Median->	10	Paid Median Price
Yield if held 20 years								15.43%	11.82%	11.24%	10.56%	9.93%	8.80%	7.80%	6.83%	6.47%	6.36%		10.56%	<-Median->	7	Paid Median Price
Yield if held 25 years													17.26%	13.43%	12.67%	11.73%	10.81%		15.34%	<-Median->	2	Paid Median Price
Yield if held 30 years																						See TD Bank, NA
																				year 35		BMO, EMP, T, JNJ
Cost covered if held 5 years	13.30%	14.50%	12.62%	12.00%	11.32%	11.10%	9.64%	8.91%	8.38%	7.89%	8.08%	8.46%	9.12%	10.36%	11.83%	12.65%	13.70%		9.01%	<-Median->	10	Paid Median Price	Div Yd
Cost covered if held 10 years	37.03%	38.58%	37.40%	35.20%	33.72%	35.18%	37.63%	31.64%	29.17%	26.65%	25.27%	21.34%	19.36%	17.98%	16.79%	17.16%	17.90%		27.91%	<-Median->	10	Paid Median Price	2.49%
Cost covered if held 15 years			84.11%	70.90%	74.42%	76.70%	77.91%	73.29%	67.18%	62.45%	63.12%	65.73%	53.97%	48.83%	43.95%	41.19%	34.41%		66.46%	<-Median->	10	Paid Median Price	1.88%
Cost covered if held 20 years								154.51%	125.99%	127.70%	127.37%	125.68%	115.41%	103.81%	94.90%	94.49%	97.08%		125.99%	<-Median->	7	Paid Median Price	3.64%
Cost covered if held 25 years													237.14%	189.08%	187.87%	184.27%	178.99%		213.11%	<-Median->	2	Paid Median Price
Cost covered if held 30 years																						See CCL no sp
Div Gr, Cap Gain						Div Gr	-100.00%	9/25/06	# yrs ->	-106	2006	$9.26	Cap Gain	-100.00%								Div Gr, Cap Gain
I am earning						org yield	2.16%	12/31/14	RRSP	Div G Yrly	#NUM!	Div start	$0.20	-2.16%	0.00%							I am earning
Div Gr, Cap Gain						Div Gr	-100.00%	10/22/13	# yrs ->	-113	2013	$51.22	Cap Gain	-100.00%								Div Gr, Cap Gain
I earned						org yield	1.80%	12/31/14	TFSA	Div G Yrly	#NUM!	Div start	$0.92	-1.80%	0.00%							I earned
																					Yr	Item	Tot. Grth
Revenue Growth									$14,293.9	$15,035.0	$17,843.0	$17,342.0	$19,061.0	$17,551.0	$17,298	<-12 mths	-1.44%		22.79%	<-Total Growth	5	Revenue Growth	22.79%
AEPS Growth									$1.74	$1.17	$1.80	$1.54	$1.46	$1.82	$1.86	<-12 mths	2.20%		4.60%	<-Total Growth	5	AEPS Growth	4.60%
Net Income Growth									$625.6	$625.6	$622.0	$265.0	-$176.0	$672.0	$708	<-12 mths	5.36%		7.42%	<-Total Growth	5	Net Income Growth	7.42%
Cash Flow Growth									$1,078.1	$693.0	$1,025.0	$1,191.0	$1,097.0	$1,508.0					39.88%	<-Total Growth	5	Cash Flow Growth	39.88%
Dividend Growth									$0.70	$0.71	$0.72	$0.74	$0.76	$0.79	$0.80	<-12 mths	1.27%		13.67%	<-Total Growth	5	Dividend Growth	13.67%
Stock Price Growth									$37.79	$29.61	$35.20	$26.65	$24.83	$43.46	$40.91	<-12 mths	-5.87%		15.00%	<-Total Growth	5	Stock Price Growth	15.00%
Revenue Growth				$10,991.5	$11,162.6	$11,542.5	$13,501.9	$14,943.5	$14,293.9	$15,035.0	$17,843.0	$17,342.0	$19,061.0	$17,551.0	$17,922	<-this year	2.11%		59.68%	<-Total Growth	10	Revenue Growth	59.68%
AEPS Growth				$1.58	$1.85	$1.80	$1.59	$1.80	$1.74	$1.17	$1.80	$1.54	$1.46	$1.82	$2.11	<-this year	15.93%		15.19%	<-Total Growth	10	AEPS Growth	15.19%
Net Income Growth				$601.1	$731.1	$852.5	$755.3	$582.8	$625.6	$625.6	$622.0	$265.0	-$176.0	$672.0	$924	<-this year	37.43%		11.80%	<-Total Growth	10	Net Income Growth	11.80%
Cash Flow Growth				$847.4	$1,073.6	$809.1	$884.5	$1,036.9	$1,078.1	$693.0	$1,025.0	$1,191.0	$1,097.0	$1,508.0	$1,475	<-this year	-2.22%		77.96%	<-Total Growth	10	Cash Flow Growth	77.96%
Dividend Growth				$0.54	$0.59	$0.63	$0.66	$0.68	$0.70	$0.71	$0.72	$0.74	$0.76	$0.79	$0.90	<-this year	13.29%		47.66%	<-Total Growth	10	Dividend Growth	47.66%
Stock Price Growth				$41.64	$45.89	$41.35	$45.55	$33.29	$37.79	$29.61	$35.20	$26.65	$24.83	$43.46	$47.62	<-this year	9.57%		4.37%	<-Total Growth	10	Stock Price Growth	4.37%
Dividends on Shares					$18.14	$19.53	$20.31	$20.93	$21.55	$22.01	$22.32	$22.79	$23.41	$24.49	$24.80	$24.80	$24.80		$215.45	No of Years	10	Total Dividends	3/31/15
Share Value				$1,026.10	$1,472.81	$1,400.58	$1,211.17	$1,246.20	$1,104.53	$883.50	$1,101.12	$831.73	$774.69	$1,280.61	$1,268.21	$1,268.21	$1,268.21		$1,280.61	No of Years	10	Share Value	$33.10
Total																			$1,496.06			Total Return
Graham Number AEPS	$18.34	$15.13	$17.27	$19.04	$21.56	$22.40	$22.29	$25.50	$24.74	$20.27	$26.19	$23.99	$23.41	$26.23	$28.24	$30.12	$0.00		37.76%	<-Total Growth	10	Graham Number AEPS
Increase	6.97%	-17.50%	14.13%	10.24%	13.25%	3.87%	-0.46%	14.37%	-2.98%	-18.05%	29.20%	-8.38%	-2.45%	12.05%	7.67%	6.65%	-100.00%		1.70%	<-Median->	10	Increase
Price/GP Ratio Med	1.33	2.00	2.00	2.03	1.98	1.91	1.87	1.55	1.45	1.59	1.17	1.20	1.42	1.32	1.34				1.50	<-Median->	10	Price/GP Ratio Med
Price/GP Ratio High	1.55	2.46	2.41	2.55	2.20	2.03	2.06	1.62	1.70	1.83	1.40	1.33	1.86	1.72	0.00				1.78	<-Median->	10	Price/GP Ratio High
Price/GP Ratio Low	1.10	1.53	1.59	1.51	1.76	1.78	1.69	1.49	1.20	1.34	0.94	1.07	0.98	0.92	1.34				1.27	<-Median->	10	Price/GP Ratio Low
Price/GP Ratio Close	1.41	1.84	2.02	2.19	2.13	1.85	2.04	1.31	1.53	1.46	1.34	1.11	1.06	1.66	1.45	1.36	#DIV/0!		1.49	<-Median->	10	Price/GP Ratio Close
Prem/Disc Close	40.61%	84.02%	101.57%	118.71%	112.83%	84.64%	104.33%	30.57%	52.78%	46.07%	34.41%	11.07%	6.08%	65.70%	44.86%	35.83%	#DIV/0!		49.42%	<-Median->	10	Graham Price
Graham Number EPS	$12.61	$14.70	$17.68	$18.61	$21.53	$24.65	$24.56	$22.88	$23.12	$15.22	$23.75	$15.35	$15.38	$24.82	$28.84	$30.74	$0.00		33.36%	<-Total Growth	10	Graham Number EPS
Increase	19.84%	16.61%	20.25%	5.28%	15.66%	14.50%	-0.35%	-6.83%	1.03%	-34.14%	55.98%	-35.38%	0.19%	61.43%	16.18%	6.60%	-100.00%		0.61%	<-Median->	10	Increase
Price/GP Ratio Med	1.93	2.05	1.96	2.08	1.98	1.73	1.70	1.73	1.55	2.11	1.29	1.88	2.16	1.39	1.31				1.73	<-Median->	10	Price/GP Ratio Med
Price/GP Ratio High	2.26	2.53	2.36	2.61	2.21	1.85	1.87	1.81	1.82	2.44	1.54	2.08	2.83	1.82	0.00				1.86	<-Median->	10	Price/GP Ratio High
Price/GP Ratio Low	1.61	1.57	1.56	1.55	1.76	1.62	1.53	1.66	1.28	1.78	1.04	1.67	1.49	0.97	1.31				1.58	<-Median->	10	Price/GP Ratio Low
Price/GP Ratio Close	2.05	1.89	1.97	2.24	2.13	1.68	1.85	1.45	1.63	1.94	1.48	1.74	1.61	1.75	1.42	1.33	#DIV/0!		1.71	<-Median->	10	Price/GP Ratio Close
Prem/Disc Close	104.55%	89.39%	96.90%	123.73%	113.18%	67.77%	85.46%	45.47%	63.46%	94.48%	48.23%	73.66%	61.49%	75.09%	41.87%	33.08%	#DIV/0!		70.72%	<-Median->	10	Graham Price
Based on EPS 3 Yrs EPS	$11.34	$13.10	$15.40	$17.67	$19.20	$21.29	$24.00	$26.76	$25.53	$23.95	$21.47	$21.36	$18.61	$14.64	$15.27	$20.76	$0.00		-20.77%	<-Total Growth	10	Based on EPS 3 Yrs EPS
Increase	10.30%	15.50%	17.60%	14.74%	8.61%	10.90%	12.74%	11.50%	-4.62%	-6.18%	-10.35%	-0.54%	-12.84%	-21.38%	4.32%	35.97%	-100.00%		-2.58%	<-Median->	10	Increase
Price/GP Ratio Med	2.15	2.31	2.25	2.19	2.22	2.01	1.74	1.48	1.40	1.34	1.43	1.35	1.78	2.36	2.48				1.61	<-Median->	10	Price/GP Ratio Med
Price/GP Ratio High	2.51	2.84	2.70	2.75	2.47	2.14	1.91	1.55	1.65	1.55	1.71	1.50	2.34	3.08	0.00				1.81	<-Median->	10	Price/GP Ratio High
Price/GP Ratio Low	1.78	1.77	1.79	1.63	1.97	1.88	1.57	1.42	1.16	1.13	1.15	1.20	1.23	1.65	2.48				1.32	<-Median->	10	Price/GP Ratio Low
Price/GP Ratio Close	2.27	2.13	2.26	2.36	2.39	1.94	1.90	1.24	1.48	1.24	1.64	1.25	1.33	2.97	2.68	1.97	#DIV/0!		1.56	<-Median->	10	Price/GP Ratio Close
Prem/Disc Close	127.40%	112.57%	125.97%	135.60%	139.05%	94.22%	89.77%	24.39%	48.03%	23.63%	63.93%	24.79%	33.39%	196.96%	167.96%	97.08%	#DIV/0!		0.56	<-Median->	10	Graham Price
Month, Year	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	Dec-27	Dec-28		27.00	<Count Years>	30	Month, Year
Pre-split '07
Pre-split '14	$50.31	$48.39
Price Close	$25.16	$24.20	$34.92	$33.10	$47.51	$45.18	$39.07	$40.20	$35.63	$28.50	$35.52	$26.83	$24.99	$41.31	$40.91	$40.91	$40.91		24.80%	<-Total Growth	10	Stock Price
Increase	28.90%	-3.82%	44.33%	-5.21%	43.53%	-4.90%	-13.52%	2.89%	-11.37%	-20.01%	24.63%	-24.47%	-6.86%	65.31%	-0.97%	0.00%	0.00%		23.47	<-Median->	10	CAPE (10 Yr P/E)
P/E Ratio	21.40	20.63	22.75	27.58	24.94	18.97	23.60	22.96	24.86	44.86	23.78	42.30	-60.56	26.66	18.60	16.36	17.64		3.00%	<-IRR #YR->	5	Stock Price	15.94%
Trailing P/E Ratio	27.73	23.11	25.79	27.22	30.39	22.47	20.89	17.25	26.06	19.48	53.33	18.01	39.41	-106.00	25.10	18.60	19.05		2.24%	<-IRR #YR->	10	Stock Price	24.80%
CAPE (10 Yr P/E)	18.92	19.38	20.10	21.24	22.07	21.66	22.16	22.60	22.99	23.96	24.14	25.24	28.29	28.17	27.03	26.36	25.09		4.96%	<-IRR #YR->	5	Price & Dividend	239.22%
Median 10, 5 Yrs			D.  per yr	1.89%	1.96%	% Tot Ret	45.79%	39.52%	T P/E	$21.68	$19.48	P/E:	$24.32	$26.66		-23.55%	Diff M/C		4.13%	<-IRR #YR->	10	Price & Dividend	446.39%
Price 15			D.  per yr	2.15%		% Tot Ret	29.97%						CAPE Diff	-20.78%					5.03%	<-IRR #YR->	15	Stock Price	108.74%
Price  20			D.  per yr	2.73%		% Tot Ret	24.90%		3.00%										8.23%	<-IRR #YR->	20	Stock Price	386.00%
Price  25			D.  per yr	2.81%		% Tot Ret	23.32%												9.24%	<-IRR #YR->	25	Stock Price	811.92%
Price  30			D.  per yr	2.16%		% Tot Ret	20.91%												8.16%	<-IRR #YR->	29	Stock Price
Price & Dividend 15																			7.18%	<-IRR #YR->	15	Price & Dividend	913.40%
Price & Dividend 20																			10.95%	<-IRR #YR->	20	Price & Dividend	2264.20%
Price & Dividend 25																			12.06%	<-IRR #YR->	25	Price & Dividend	4336.14%
Price & Dividend 30																			10.31%	<-IRR #YR->	29	Price & Dividend
Price  5									-$35.63	$0.00	$0.00	$0.00	$0.00	$41.31								Price  5
Price 10				-$33.10	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$41.31								Price 10
Price & Dividend 5									-$35.63	$0.71	$0.72	$0.74	$0.76	$42.10								Price & Dividend 5
Price & Dividend 10				-$33.10	$0.59	$0.63	$0.66	$0.68	$0.70	$0.71	$0.72	$0.74	$0.76	$42.10								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	$0.00	$41.31								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	$0.00	$41.31								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	$0.00	$41.31								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	$0.00	$41.31								Price  30
Price & Dividend 15	$0.41	$0.45	$0.51	$0.54	$0.59	$0.63	$0.66	$0.68	$0.70	$0.71	$0.72	$0.74	$0.76	$42.10								Price & Dividend 15
Price & Dividend 20	$0.41	$0.45	$0.51	$0.54	$0.59	$0.63	$0.66	$0.68	$0.70	$0.71	$0.72	$0.74	$0.76	$42.10								Price & Dividend 20
Price & Dividend 25	$0.41	$0.45	$0.51	$0.54	$0.59	$0.63	$0.66	$0.68	$0.70	$0.71	$0.72	$0.74	$0.76	$42.10								Price & Dividend 25
Price & Dividend 30	$0.41	$0.45	$0.51	$0.54	$0.59	$0.63	$0.66	$0.68	$0.70	$0.71	$0.72	$0.74	$0.76	$42.10								Price & Dividend 30
Month, Year	Mar-13	Mar-14	Mar-15	Mar-16	Mar-17	Mar-18	Mar-19	Mar-20	Mar-21	Mar-22	Mar-23	Mar-24	Mar-25	Mar-26	Mar-27	Mar-28	Mar-29		27.00	<Count Years>	30	Month, Year
Pre-split '07
Pre-split '14	$51.58	$55.69
Price Close	$25.79	$27.85	$34.81	$41.64	$45.89	$41.35	$45.55	$33.29	$37.79	$29.61	$35.20	$26.65	$24.83	$43.46	$40.91	$40.91	$47.62		4.37%	<-Total Growth	10	Stock Price
Increase	22.20%	7.97%	25.01%	19.62%	10.21%	-9.89%	10.16%	-26.92%	13.52%	-21.65%	18.88%	-24.29%	-6.83%	75.03%	-5.87%	0.00%	16.40%		23.47	<-Median->	10	CAPE (10 Yr P/E)
P/E Ratio	21.40	20.63	22.75	27.58	24.94	18.97	23.60	22.96	24.86	44.86	23.78	42.30	-60.56	26.66	18.60	16.36	17.64		2.84%	<-IRR #YR->	5	Stock Price	15.00%
Trailing P/E Ratio	27.73	23.11	25.79	27.22	30.39	22.47	20.89	17.25	26.06	19.48	53.33	18.01	39.41	-106.00	25.10	18.60	19.05		0.43%	<-IRR #YR->	10	Stock Price	4.37%
CAPE (10 Yr P/E)	18.92	19.38	20.10	21.24	22.07	21.66	22.16	22.60	22.99	23.96	24.14	25.24	28.29	28.17	27.03	26.36	25.09		4.69%	<-IRR #YR->	5	Price & Dividend	24.82%
Median 10, 5 Yrs			D.  per yr	1.63%	1.86%	% Tot Ret	79.18%	39.56%	T P/E	$21.68	$19.48	P/E:	$24.32	$26.66		-23.55%	Diff M/C		2.06%	<-IRR #YR->	10	Price & Dividend	21.06%
Price 15			D.  per yr	1.99%		% Tot Ret	29.83%						CAPE Diff	-20.78%					4.68%	<-IRR #YR->	15	Stock Price	98.63%
Price  20			D.  per yr	2.67%		% Tot Ret	23.89%												8.50%	<-IRR #YR->	20	Stock Price	411.29%
Price  25			D.  per yr	2.75%		% Tot Ret	22.51%												9.47%	<-IRR #YR->	25	Stock Price	859.38%
Price  30																			8.35%	<-IRR #YR->	29	Stock Price
Price & Dividend 15																			6.67%	<-IRR #YR->	15	Price & Dividend	140.74%
Price & Dividend 20																			11.17%	<-IRR #YR->	20	Price & Dividend	535.00%
Price & Dividend 25																			12.22%	<-IRR #YR->	25	Price & Dividend	1104.86%
Price & Dividend 30																			10.45%	<-IRR #YR->	29	Price & Dividend
Price  5									-$37.79	$0.00	$0.00	$0.00	$0.00	$43.46								Price  5
Price 10				-$41.64	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$43.46								Price 10
Price & Dividend 5									-$37.79	$0.71	$0.72	$0.74	$0.76	$44.25								Price & Dividend 5
Price & Dividend 10				-$41.64	$0.59	$0.63	$0.66	$0.68	$0.70	$0.71	$0.72	$0.74	$0.76	$44.25								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	$0.00	$43.46								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	$0.00	$43.46								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	$0.00	$43.46								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	$0.00	$43.46								Price  30
Price & Dividend 15	$0.41	$0.45	$0.51	$0.54	$0.59	$0.63	$0.66	$0.68	$0.70	$0.71	$0.72	$0.74	$0.76	$44.25								Price & Dividend 15
Price & Dividend 20	$0.41	$0.45	$0.51	$0.54	$0.59	$0.63	$0.66	$0.68	$0.70	$0.71	$0.72	$0.74	$0.76	$44.25								Price & Dividend 20
Price & Dividend 25	$0.41	$0.45	$0.51	$0.54	$0.59	$0.63	$0.66	$0.68	$0.70	$0.71	$0.72	$0.74	$0.76	$44.25								Price & Dividend 25
Price & Dividend 30	$0.41	$0.45	$0.51	$0.54	$0.59	$0.63	$0.66	$0.68	$0.70	$0.71	$0.72	$0.74	$0.76	$44.25								Price & Dividend 30
Price H/L Median	$24.38	$30.20	$34.59	$38.66	$42.67	$42.75	$41.80	$39.62	$35.81	$32.14	$30.67	$28.80	$33.22	$34.58	$37.83				-11.81%	<-Total Growth	10	Stock Price
Increase	11.03%	23.87%	14.53%	11.78%	10.36%	0.19%	-2.22%	-5.20%	-9.62%	-10.26%	-4.57%	-6.10%	15.37%	4.08%	9.41%				-0.70%	<-IRR #YR->	5	Stock Price	-3.57%
P/E Ratio	20.23	22.37	22.60	25.60	23.19	19.61	21.66	27.32	23.56	48.69	20.72	45.71	-81.02	21.21	17.20				-1.11%	<-IRR #YR->	10	Stock Price	-11.81%
Trailing P/E Ratio	26.21	25.06	25.62	25.27	28.25	23.23	19.17	20.53	24.70	21.14	46.46	19.46	52.73	-84.33	23.21				1.40%	<-IRR #YR->	5	Price & Dividend	-3.57%
P/E on Running 5 yr Average	25.39	27.55	28.37	29.62	28.69	25.41	23.25	22.23	20.07	20.76	21.78	25.08	42.81	43.33	34.20				0.77%	<-IRR #YR->	10	Price & Dividend	7.41%
P/E on Running 10 yr Average	32.19	35.89	36.81	37.00	36.40	32.36	28.88	26.40	23.19	21.18	19.85	19.55	25.97	26.78	28.51				20.72	P/E Ratio		Historical Median	6.91%
Median 10, 5 Yrs			D.  per yr	2.10%	1.88%	% Tot Ret	149.97%	243.46%	T P/E	22.19	21.14	P/E:	22.42	21.21						Count	26	Years of data
									-$35.81	$0.00	$0.00	$0.00	$0.00	$34.58
				-$38.66	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$34.58
									-$35.81	$0.71	$0.72	$0.74	$0.76	$35.37
				-$38.66	$0.59	$0.63	$0.66	$0.68	$0.70	$0.71	$0.72	$0.74	$0.76	$35.37
High Months	Feb 13	Mar 14	Feb 15	Mar 16	Jan 17	Oct 17	Mar 19	Jun 19	Jan 20	Jun 21	Feb 23	May 23	Jul 24	Feb 26	Apr 26
Pre-split '07
Pre-split '14	$51.65	$57.03
Price High	$25.83	$28.52	$37.25	$41.64	$48.52	$47.48	$45.55	$45.95	$41.36	$42.05	$37.17	$36.63	$31.95	$43.58	$45.06				4.66%	<-Total Growth	10	Stock Price	Stock Price
Increase	7.56%	10.42%	30.63%	11.79%	16.52%	-2.14%	-4.06%	0.88%	-9.99%	1.67%	-11.61%	-1.45%	-12.78%	36.40%	3.40%				1.05%	<-IRR #YR->	5	Stock Price	Stock Price
P/E Ratio	21.43	21.12	24.35	27.58	26.37	21.78	23.60	31.69	27.21	63.71	25.11	58.14	-77.93	26.74	20.48				0.46%	<-IRR #YR->	10	Stock Price	Stock Price
Trailing P/E Ratio	27.77	23.66	27.59	27.22	32.13	25.80	20.89	23.81	28.52	27.66	56.32	24.75	50.71	-106.29	27.64				21.76	P/E Ratio		Historical Median	Historical Median
Median 10, 5 Yrs									T P/E	26.72	27.64	P/E:	25.93	25.11					16.37	P/E Ratio		Historical Low
									-$41.36	$0.00	$0.00	$0.00	$0.00	$43.58
				-$41.64	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$43.58
Low Months	Sep 12	Aug 13	Apr 14	Jul 15	Jun 16	Mar 18	Nov 18	Oct 19	Mar 20	Jan 21	May 22	Mar 24	Jan 25	Apr 25	Apr 26
Pre-split '07
Pre-split '14	$40.48	$46.29
Price Low	$20.24	$23.15	$27.53	$28.80	$37.85	$39.94	$37.64	$37.88	$29.57	$27.10	$24.70	$25.64	$22.86	$24.09	$37.83				-19.55%	<-Total Growth	10	Stock Price
Increase	11.92%	14.35%	18.95%	4.61%	31.42%	5.52%	-5.76%	0.64%	-21.94%	-8.35%	-8.86%	3.81%	-10.84%	5.38%	57.04%				-4.02%	<-IRR #YR->	5	Stock Price	-22.75%
P/E Ratio	16.80	17.14	17.99	19.07	20.57	18.32	19.50	26.12	19.45	41.06	16.69	40.70	-55.76	14.78	17.20				-1.77%	<-IRR #YR->	10	Stock Price	-19.55%
Trailing P/E Ratio	21.76	19.21	20.39	18.82	25.07	21.71	17.27	19.63	20.39	17.83	37.42	17.32	36.29	-58.76	23.21				16.69	P/E Ratio		Historical Median
Median 10, 5 Yrs									T P/E	20.01	17.83	P/E:	19.48	16.69					11.14	P/E Ratio		Historical Low
									-$29.57	$0.00	$0.00	$0.00	$0.00	$24.09
				-$28.80	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$24.09
Free Cash Flow Mkt Sc									$645	$240	$408	$550	$688	$1,169	$794	$950
Change										-62.80%	70.00%	34.80%	25.09%	69.91%	-32.08%	19.58%
Free Cash Flow WSJ				$664	$837	$531	$514	$527	$699	$240	$408	$550	$815	$1,178	$794	$950
Change					26.05%	-36.56%	-3.20%	2.53%	32.64%	-65.67%	70.00%	34.80%	48.18%	44.54%	-32.60%	19.58%
Free Cash Flow MS Old			$582.90	$618.0	$752.2	$465.1	$448.5	$460.6	$657	$195	$384	$537
Change
Free Cash Flow MS	$467.56	$432.69	$600.00	$660.0	$750.0	$580.0	$550.0	$570.0	$880	$450	$750	$540	$840	$1,030	$794	$950			56.06%	<-Total Growth	10	Free Cash Flow
Change				10.00%	13.64%	-22.67%	-5.17%	3.64%	54.39%	-48.86%	66.67%	-28.00%	55.56%	22.62%	-22.91%	19.58%			3.20%	<-IRR #YR->	5	Free Cash Flow MS	17.05%
FCF/CF from Op Ratio			0.78	0.78	0.70	0.72	0.62	0.55	0.82	0.65	0.73	0.45	0.77	0.68	0.54	#DIV/0!			3.59%	<-IRR #YR->	9	Free Cash Flow MS	56.06%
Free Cash Flow Yield			0.04	0.04	0.04	0.04	0.03	0.04	0.06	0.04	0.05	0.05	0.08	0.06	0.05	0.06			4.50%	<-Median->	10	Free Cash Flow Yield
Dividends paid			$197.70	$210.00	$228.00	$244.00	$254.60	$269.70	$204.60	$209.00	$199.00	$245.00	$320.00	$324.00	$324.07	$324.07			54.29%	<-Total Growth	10	Dividends paid
Percentage paid			32.95%	31.82%	30.40%	42.07%	46.29%	47.32%	23.25%	46.44%	26.53%	45.37%	38.10%	31.46%	40.81%	34.13%			$0.40	<-Median->	10	Percentage paid
5 Year Coverage							36.12%	38.79%	36.06%	39.01%	35.53%	35.34%	34.03%	35.93%	35.71%	37.01%						5 Year Coverage
Dividend Coverage Ratio			3.03	3.14	3.29	2.38	2.16	2.11	4.30	2.15	3.77	2.20	2.63	3.18	2.45	2.93			2.50	<-Median->	10	Dividend Coverage Ratio
5 Year of Coverage							2.77	2.58	2.77	2.56	2.81	2.83	2.94	2.78	2.80	2.70						5 Year of Coverage
									-$880	$0	$0	$0	$0	$1,030
					-$750	$0	$0	$0	$0	$0	$0	$0	$0	$1,030
Market Cap in $M	$10,141.6	$10,863.4	$13,653.4	$16,344.6	$17,724.3	$16,019.3	$17,773.5	$13,603.6	$15,582.1	$12,339.6	$14,840.5	$11,308.3	$10,387.3	$17,605.1	$16,572.1	$16,572.1	$19,290.2		7.71%	<-Total Growth	10	Market Cap	7.71%
Pre-split '14	200.32
Diluted # of Shares in Millions	400.64	395.35	397.26	397.77	396.03	391.17	391.25	402.45	411.39	414.83	419.23	423.28	423.58	412.86	423.28	423.28	423.28		3.79%	<-Total Growth	10	Diluted # of Shares in Million
Change	-2.27%	-1.32%	0.48%	0.13%	-0.44%	-1.23%	0.02%	2.86%	2.22%	0.84%	1.06%	0.97%	0.07%	-2.53%	2.52%	0.00%	0.00%		0.37%	<-IRR #YR->	10	Change
Difference Diluted/Basic	-1.4%	-1.3%	-1.6%	-1.3%	-1.3%	-1.2%	-0.7%	-0.5%	-0.4%	-0.2%	-0.1%	-0.1%	0.0%	-0.5%	-0.1%	-0.1%	-0.1%		0.07%	<-IRR #YR->	5	Difference Diluted/Basic
Change in Diluted Shares per Year
				-397.8	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	412.9
									-411.4	0.0	0.0	0.0	0.0	412.9
Pre-split '14	197.59	195.12
Basic # of Shares in Millions	395.18	390.25	391.10	392.58	390.97	386.56	388.55	400.33	409.85	414.14	418.62	423.06	423.58	410.87	423.06	423.06	423.06		4.66%	<-Total Growth	10	Basic
Change	-2.00%	-1.25%	0.22%	0.38%	-0.41%	-1.13%	0.52%	3.03%	2.38%	1.04%	1.08%	1.06%	0.12%	-3.00%	2.97%	0.00%	0.00%		0.78%	<-Median->	10	Change
Difference Basic/Outstanding	-0.49%	-0.03%	0.29%	-0.01%	-1.21%	0.22%	0.42%	2.08%	0.60%	0.63%	0.71%	0.30%	-1.24%	-1.41%	-4.25%	-4.25%	-4.25%		0.36%	<-Median->	10	Difference Basic/Outstanding
																				Estimates		last 12 months from Qtr.
Pre-split '02
Pre-split '07
Pre-split '14	196.6	195.1
# of Share in Millions	393.24	390.14	392.2	392.5	386.2	387.4	390.2	408.6	412.3	416.7	421.6	424.3	418.3	405.1	405.1	405.1	405.1		0.32%	<-IRR #YR->	10	Shares	3.20%
Change	-1.22%	-0.79%	0.53%	0.08%	-1.60%	0.30%	0.72%	4.73%	0.90%	1.07%	1.17%	0.65%	-1.41%	-3.17%	0.00%	0.00%	0.00%		-0.35%	<-IRR #YR->	5	Shares	-1.76%
Cash Flow from Operations $M	$645.8	$656.3	$769.8	$847.4	$1,073.6	$809.1	$884.5	$1,036.9	$1,078.1	$693	$1,025	$1,191	$1,097	$1,508	$1,474.5				77.96%	<-Total Growth	10	Cash Flow
Increase	23.48%	1.63%	17.29%	10.08%	26.69%	-24.64%	9.32%	17.23%	3.97%	-35.72%	47.91%	16.20%	-7.89%	37.47%	-2.22%				SO, S. Issu	Buy Backs
5 year Running Average	$562.0	$599.8	$637.0	$688.5	$798.6	$831.2	$876.9	$930.3	$976.4	$900.3	$943.5	$1,004.8	$1,016.8	$1,102.8	$1,259.1				60.18%	<-Total Growth	10	CF 5 Yr Running
CFPS	$1.64	$1.68	$1.96	$2.16	$2.78	$2.09	$2.27	$2.54	$2.61	$1.66	$2.43	$2.81	$2.62	$3.72	$3.64				72.44%	<-Total Growth	10	Cash Flow per Share
Increase	25.00%	2.44%	16.67%	10.00%	28.76%	-24.86%	8.54%	11.94%	3.04%	-36.40%	46.20%	15.45%	-6.57%	41.96%	-2.22%				5.93%	<-IRR #YR->	10	Cash Flow	77.96%
5 year Running Average	$1.39	$1.50	$1.61	$1.75	$2.05	$2.13	$2.25	$2.37	$2.46	$2.23	$2.30	$2.41	$2.43	$2.65	$3.04				6.94%	<-IRR #YR->	5	Cash Flow	39.88%
P/CF on Med Price	14.84	17.95	17.62	17.91	15.35	20.47	18.44	15.61	13.70	19.32	12.61	10.26	12.67	9.29	10.39				5.60%	<-IRR #YR->	10	Cash Flow per Share	72.44%
P/CF on Closing Price	15.70	16.55	17.74	19.29	16.51	19.80	20.09	13.12	14.45	17.81	14.48	9.49	9.47	11.67	11.24				7.32%	<-IRR #YR->	5	Cash Flow per Share	42.38%
																-23.37%	Diff M/C		4.22%	<-IRR #YR->	10	CFPS 5 yr Running	51.21%
Excl.Working Capital CF	$201.5	$354.5	$314.6	$345.8	$249.7	$461.9	$327.3	$385.3	$467.9	$435.0	$494.0	$395.0	$513.0	$259.0	$0.0				1.51%	<-IRR #YR->	5	CFPS 5 yr Running	7.80%
Cash Flow from Operations $M WC	$847.3	$1,010.8	$1,084.5	$1,193.2	$1,323.3	$1,271.0	$1,211.8	$1,422.2	$1,546.0	$1,128.0	$1,519.0	$1,586.0	$1,610.0	$1,767.0	$1,474.5				48.09%	<-Total Growth	10	Cash Flow less WC
Increase	1.97%	19.30%	7.28%	10.03%	10.90%	-3.95%	-4.66%	17.36%	8.70%	-27.04%	34.66%	4.41%	1.51%	9.75%	-16.55%				4.00%	<-IRR #YR->	10	Cash Flow less WC	48.09%
5 year Running Average	$692.9	$801.6	$914.0	$993.3	$1,091.8	$1,176.6	$1,216.8	$1,284.3	$1,354.9	$1,315.8	$1,365.4	$1,440.2	$1,477.8	$1,522.0	$1,591.3				2.71%	<-IRR #YR->	5	Cash Flow less WC	14.29%
CFPS Excl. WC	$2.15	$2.59	$2.76	$3.04	$3.43	$3.28	$3.11	$3.48	$3.75	$2.71	$3.60	$3.74	$3.85	$4.36	$3.64				4.36%	<-IRR #YR->	10	CF less WC 5 Yr Run	53.22%
Increase	3.23%	20.25%	6.71%	9.95%	12.71%	-4.24%	-5.34%	12.07%	7.73%	-27.81%	33.11%	3.74%	2.97%	13.34%	-16.55%				2.35%	<-IRR #YR->	5	CF less WC 5 Yr Run	12.34%
5 year Running Average	$1.72	$2.01	$2.31	$2.53	$2.80	$3.02	$3.12	$3.27	$3.41	$3.26	$3.33	$3.46	$3.53	$3.65	$3.84				3.68%	<-IRR #YR->	10	CFPS - Less WC	43.50%
P/CF on Median Price	11.31	11.65	12.51	12.72	12.45	13.03	13.46	11.38	9.55	11.87	8.51	7.70	8.63	7.93					3.07%	<-IRR #YR->	5	CFPS - Less WC	16.34%
P/CF on Closing Price	11.97	10.75	12.59	13.70	13.39	12.60	14.67	9.57	10.08	10.94	9.77	7.13	6.45	9.96	11.24				3.75%	<-IRR #YR->	10	CFPS 5 yr Running	44.47%
*Operational Cash Flow.				CF/-WC	P/CF Med	10 yr	14.52	5 yr	12.61	P/CF Med	10 yr	10.47	5 yr	8.51		7.37%	Diff M/C		1.39%	<-IRR #YR->	5	CFPS 5 yr Running	7.13%
				-392.5	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	405.1								Shares
									-412.3	0.0	0.0	0.0	0.0	405.1								Shares
				-$847.4	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$1,508.0								Cash Flow
									-$1,078.1	$0.0	$0.0	$0.0	$0.0	$1,508.0								Cash Flow
				-$2.16	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.72								Cash Flow per Share
									-$2.61	$0.00	$0.00	$0.00	$0.00	$3.72								Cash Flow per Share
				-$1.75	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.65								CFPS 5 yr Running
									-$2.46	$0.00	$0.00	$0.00	$0.00	$2.65								CFPS 5 yr Running
				-$1,193.2	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$1,767.0								Cash Flow less WC
									-$1,546.0	$0.0	$0.0	$0.0	$0.0	$1,767.0								Cash Flow less WC
				-$993.3	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$1,522.0								CF less WC 5 Yr Run
									-$1,354.9	$0.0	$0.0	$0.0	$0.0	$1,522.0								CF less WC 5 Yr Run
				-$3.04	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$4.36								CFPS - Less WC
									-$3.75	$0.00	$0.00	$0.00	$0.00	$4.36								CFPS - Less WC
				-$2.53	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.65								CFPS 5 yr Running
									-$3.41	$0.00	$0.00	$0.00	$0.00	$3.65								CFPS 5 yr Running
Chges Non-cash WC	-$4.43	-$129.36	-$14.50	-$45.80	$2.4	-$115.2	-$99.2	-$106.7	-$233.3	-$252
Receivables											-$205	-$55	-$165	$13
Investories											-$396	-$195	$24	$122
Prepaid Expenses & other Assets											-$10	-$3	-$2	$3
Accts Payable etc											$243	$251	-$16	$3
Current Income Taxes											$1
Interest and other	-$34.95	-$65.84	-$60.99	-$63.50	-$42.8	-$47.4	-$83.1	-$139.0	-$111.3	-$117	-$143	-$177	-$192	-$142
Income Tax Paid	-$162.14	-$159.34	-$239.15	-$236.50	-$209.3	-$299.3	-$145.0	-$139.6	-$123.3	-$106	-$58	-$216	-$133	-$240
Income Tax Expense
Financial charges										$70	$101		-$29	-$18
gain on disposal										-$12	-$4
Foreign exchange										-$21	-$20
share of join venture										$3	-$3
Change in Working Capital	-$201.5	-$354.5	-$314.6	-$345.8	-$249.7	-$461.9	-$327.3	-$385.3	-$467.9	-$435.0	-$494.0	-$395.0	-$513.0	-$259.0
TD		-$354.54	-$314.59	-$345.80	-$249.70	-$462	-$312	-$360	-$452	-$436	-$493	-$395	-$484	-$259
Difference		$0	$0	$0	$0	$0	-$15	-$25	-$16	$1	-$1	$0	-$29	$0
TD in 2026													-$513.0
													-$311	2025 accts restated.
													-$202
																			For banks, use Net Income, not CF
OPM Ratio	8.85%	7.11%	7.22%	7.71%	9.62%	7.01%	6.55%	6.94%	7.54%	4.61%	5.74%	6.87%	5.76%	8.59%	8.23%				11.45%	<-Total Growth	10	OPM
Increase	17.27%	-19.67%	1.61%	6.74%	24.75%	-27.12%	-6.55%	5.92%	8.70%	-38.89%	24.63%	19.55%	-16.20%	49.29%	-4.24%					Should increase		or be stable.
Diff from Median	28%	3%	5%	12%	39%	2%	-5%	1%	9%	-33%	-17%	-1%	-17%	24%	19%				0.00	<-Median->	10	OPM
*Operational Profit Margin (CF/Revenue) Ratio										OPM	10 Yrs	6.90%	5 Yrs	5.76%					should be	zero, it is a		check on calculations
															$1,772	<-12 mths	-0.29%
Adjusted EBITDA	$860.8	$1,020.3	$1,061.7	$1,174.1	$1,289.5	$1,264.7	$1,221.3	$1,467.8	$1,470.9	$1,550	$1,553	$1,509	$1,565	$1,777	$1,789	$1,899	$1,955		51.35%	<-Total Growth	10	Adjusted EBITDA
Change		18.54%	4.06%	10.58%	9.83%	-1.92%	-3.43%	20.18%	0.21%	5.38%	0.19%	-2.83%	3.71%	13.55%	0.68%	6.15%	2.95%		1.96%	<-Median->	10	Change
EBITDA Margin	11.80%	11.05%	9.96%	10.68%	11.55%	10.96%	9.05%	9.82%	10.29%	10.31%	8.70%	8.70%	8.21%	10.12%	9.98%	10.34%	10.46%		9.97%	<-Median->	10	EBITDA Margin
															$1,169	<-12 mths	0.78%
EBIT										$595.0	$971.0	$914.0	$936.0	$1,160.0	$1,231.0	$1,331.0	$1,358.0			<-Total Growth	4	EBIT
Change											63.19%	-5.87%	2.41%	23.93%	6.12%	8.12%	2.03%		13.17%	<-Median->	4	Change
EBITDA Margin										3.96%	5.44%	5.27%	4.91%	6.61%	6.87%	7.24%	7.26%		5.27%	<-Median->	5	EBITDA Margin
Long Term Debt	$1,395.9	$1,395.1	$1,516.9	$1,208.3	$1,500.0	$1,420.9	$1,943.9	$3,542.3	$3,277.8	$3,075	$2,944	$2,699	$2,269	$2,284	$2,284				89.03%	<-Total Growth	10	Debt	Type
Change	267.46%	-0.06%	8.73%	-20.34%	24.14%	-5.27%	36.81%	82.23%	-7.47%	-6.19%	-4.26%	-8.32%	-15.93%	0.66%	0.00%				-4.77%	<-Median->	10	Change	Lg Term R
Debt/Market Cap Ratio	0.14	0.13	0.11	0.07	0.08	0.09	0.11	0.26	0.21	0.25	0.20	0.24	0.22	0.13	0.14				0.20	<-Median->	10	Debt/Market Cap Ratio	Intang/GW
Assets/Current Liabilities Ratio	4.23	3.68	5.77	5.29	6.37	6.19	5.12	5.53	6.12	4.92	4.81	4.55	4.35	4.45	4.45				5.02	<-Median->	10	Assets/Current Liab Ratio	Liquidity
Current Liabilities/Asset Ratio	0.24	0.27	0.17	0.19	0.16	0.16	0.20	0.18	0.16	0.20	0.21	0.22	0.23	0.22	0.22				0.20	<-Median->	10	Current Liab/Asset Ratio	Liq. + CF
Debt to Cash Flow (Years)	2.16	2.13	1.97	1.43	1.40	1.76	2.20	3.42	3.04	4.44	2.87	2.27	2.07	1.51	1.55				2.23	<-Median->	10	Debt to Cash Flow (Years)	Debt Ratio
																							Leverage
Intangibles	$455	$485	$506	$587.0	$662.3	$823.1	$876.2	$1,640.7	$1,516.8	$1,371	$1,371	$1,166	$1,071	$947	$947				61.33%	<-Total Growth	10	Intangibles	D/E Ratio
Goodwill	$1,570	$1,955	$2,125	$2,194.1	$2,240.5	$2,417.3	$2,597.6	$3,219.5	$3,066.1	$3,188	$3,188	$3,098	$2,598	$2,517	$2,517				14.72%	<-Total Growth	10	Goodwill
Total	$2,024	$2,440	$2,631	$2,781	$2,903	$3,240	$3,474	$4,860	$4,583	$4,559	$4,559	$4,264	$3,669	$3,464	$3,464				24.56%	<-Total Growth	10	Total
Change	89.38%	20.50%	7.86%	5.69%	4.38%	11.63%	7.20%	39.91%	-5.71%	-0.52%	0.00%	-6.47%	-13.95%	-5.59%	0.00%				-0.26%	<-Median->	10	Change
Intangible/Market Cap Ratio	0.20	0.22	0.19	0.17	0.16	0.20	0.20	0.36	0.29	0.37	0.31	0.38	0.35	0.20	0.21				0.30	<-Median->	10	Intangible/Market Cap Ratio
Current Assets	$1,512.6	$1,895.8	$1,925.5	$2,175.8	$2,380.5	$2,422.4	$3,133.8	$4,069.0	$3,947.6	$4,295	$4,851	$4,834	$4,855	$5,226	$5,226				140.19%	<-Total Growth	10	Current Assets
Current Liabilities	$1,226.6	$1,725.1	$1,179.4	$1,356.8	$1,193.4	$1,292.8	$1,932.5	$2,493.5	$2,146.0	$2,780	$3,002	$3,133	$3,202	$3,056	$3,056				125.24%	<-Total Growth	10	Current Liabilities
Liquidity Ratio	1.23	1.10	1.63	1.60	1.99	1.87	1.62	1.63	1.84	1.54	1.62	1.54	1.52	1.71	1.71				1.63	<-Median->	10	Ratio
Liq. with CF aft div	1.63	1.38	2.12	2.07	2.71	2.31	1.95	1.94	2.21	1.69	1.86	1.82	1.76	2.10	2.09				1.82	<-Median->	5	Liq. with CF aft div
Liq. with CF aft div (WC)	1.70	1.53	2.19	2.15	2.60	2.40	1.99	1.99	2.26	1.76	1.93	1.86	1.84	2.07	1.97							Liq. with CF aft div (WC)
Liq. CF re  Inv+Div	0.68	0.97	1.81	1.51	2.06	1.49	1.08	0.93	1.79	1.19	1.48	1.22	#VALUE!	1.79	2.02				#VALUE!	<-Median->	4	Liq. CF re  Inv+Div
Curr Long Term Debt	$152.40	$393.55	$393.55	$393.55	$393.55	$4.40	$323.40	$0.00	$300.0	$300	$307	$414	$465	$465	$465				$414.0	<-Median->	5	Curr Long Term Debt
Liquidity Less CLTD	1.41	1.42	2.45	2.26	2.98	1.88	1.95	1.63	2.14	1.73	1.80	1.78	1.77	2.02	2.02				1.78	<-Median->	5	Liquidity Less CLTD
Liq. with CF aft div	1.86	1.78	3.18	2.92	4.04	2.32	2.34	1.94	2.57	1.89	2.07	2.10	2.06	2.48	2.46				2.07	<-Median->	5	Liq. with CF aft div
Assets	$5,193.6	$6,356.9	$6,800.3	$7,172.3	$7,596.6	$8,003.0	$9,885.6	$13,793.1	$13,122.8	$13,683	$14,425	$14,260	$13,913	$13,606	$13,606				89.70%	<-Total Growth	10	Assets
Liabilities	$2,888.0	$3,517.7	$3,171.7	$3,102.5	$3,273.7	$3,205.3	$4,465.1	$7,234.0	$6,678.8	$7,178	$7,285	$7,210	$6,936	$6,801	$6,801				119.21%	<-Total Growth	10	Liabilities
Debt Ratio	1.80	1.81	2.14	2.31	2.32	2.50	2.21	1.91	1.96	1.91	1.98	1.98	2.01	2.00	2.00				1.99	<-Median->	10	Ratio
Estimates BVPS															$0.00					Estimates		Estimates BVPS
Estimate Book Value															$0.0					Estimates		Estimate Book Value
P/B Ratio (Close)															#DIV/0!					Estimates		P/B Ratio (Close)
Difference from 10 year median																#DIV/0!	Diff M/C			Estimates		Difference from 10 yr med.
Book Value	$2,305.7	$2,839.2	$3,628.6	$4,069.8	$4,322.9	$4,797.7	$5,420.5	$6,559.1	$6,444.0	$6,505.0	$7,140.0	$7,050	$6,977	$6,805
Non-Control Interest	$0	$63	$68	$68	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Book Value	$2,305.7	$2,776.3	$3,560.9	$4,002.2	$4,322.9	$4,797.7	$5,420.5	$6,559.1	$6,444.0	$6,505.0	$7,140.0	$7,050	$6,977	$6,805	$6,805	$6,805			70.03%	<-Total Growth	10	Book Value
Book Value per share	$5.86	$7.12	$9.08	$10.20	$11.19	$12.38	$13.89	$16.05	$15.63	$15.61	$16.94	$16.61	$16.68	$16.80	$16.80	$16.80	$0.00		64.76%	<-Total Growth	10	Book Value per Share
Increase	10.84%	21.37%	27.58%	12.31%	9.77%	10.65%	12.17%	15.55%	-2.64%	-0.12%	8.49%	-1.89%	0.38%	0.72%	0.00%	0.00%	-100.00%		-15.21%	P/B Ratio		Current/Historical Median
P/B Ratio (Median)	4.16	4.24	3.81	3.79	3.81	3.45	3.01	2.47	2.29	2.06	1.81	1.73	1.99	2.06	2.25	0.00	#DIV/0!		2.87	P/B Ratio		Historical Median
P/B Ratio (Close)	4.40	3.91	3.83	4.08	4.10	3.34	3.28	2.07	2.42	1.90	2.08	1.60	1.49	2.59	2.44	2.44	#DIV/0!		5.12%	<-IRR #YR->	10	Book Value per Share	64.76%
Change	10.24%	-11.04%	-2.01%	6.51%	0.40%	-18.56%	-1.80%	-36.75%	16.59%	-21.55%	9.57%	-22.83%	-7.18%	73.77%	-5.87%	0.00%	#DIV/0!		1.46%	<-IRR #YR->	5	Book Value per Share	7.49%
Median 10 year P/B Ratio	3.16	3.24	3.46	3.71	3.80	3.80	3.80	3.80	3.80	3.62	3.23	2.74	2.38	2.18	2.16	2.06	#DIV/0!		2.74	<-Median->	5	Median 10 year P/B Ratio
Leverage (A/BK)	2.25	2.29	1.91	1.79	1.76	1.67	1.82	2.10	2.04	2.10	2.02	2.02	1.99	2.00	2.00				2.02	<-Median->	5	A/BV
Debt/Equity Ratio	1.25	1.27	0.89	0.78	0.76	0.67	0.82	1.10	1.04	1.10	1.02	1.02	0.99	1.00	1.00				1.02	<-Median->	5	Debt/Eq Ratio
Shareholders' Equity (Assets less Liabilities)										P/B Ratios	10 yr Med	2.18	5 yr Med	1.99		11.96%	Diff M/C		1.92	Historical		Leverage (A/BK)
				-$10.20	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$16.80
									-$15.63	$0.00	$0.00	$0.00	$0.00	$16.80
																				Estimates		last 12 months from Qtr.
Total Comprehensive Income	$490.88	$740.71	$958.29	$669.80	$829.2	$679.4	$787.2	$657.5	$33.5	$212	$775	$133	$386	$613
NCI	$0.00	$1.35	$4.78	$0.30	$0.00	$0.00	$0.00	$0.00	$0.00	$0	$0	$0	$0	$0
Shareholders	$490.88	$739.36	$953.51	$669.50	$829.20	$679.40	$787.20	$657.50	$33.50	$212	$775	$133	$386	$613					-9.22%	<-Total Growth	10	Comprehensive Income
Increase	25.65%	50.62%	28.97%	-29.79%	23.85%	-18.07%	15.87%	-16.48%	-94.90%	532.84%	265.57%	-82.84%	190.23%	58.81%					190.23%	<-Median->	5	Comprehensive Income
5 Yr Running Average	$379	$438	$593	$649	$736	$774	$784	$725	$597	$474	$493	$362	$308	$424					-0.88%	<-IRR #YR->	10	Comprehensive Income	-8.44%
ROE	21.3%	26.6%	26.8%	16.7%	19.2%	14.2%	14.5%	10.0%	0.5%	3.3%	10.9%	1.9%	5.5%	9.0%					78.85%	<-IRR #YR->	5	Comprehensive Income	1729.85%
5Yr Median	18.6%	18.6%	21.3%	21.3%	21.3%	19.2%	16.7%	14.5%	14.2%	10.0%	10.0%	3.3%	3.3%	5.5%					-4.17%	<-IRR #YR->	10	5 Yr Running Average	-34.68%
% Difference from Net Income	1.9%	38.7%	56.9%	11.4%	13.4%	-20.3%	4.2%	12.8%	-94.6%	-66.1%	24.6%	-49.81%	0.00%	-8.78%					-6.63%	<-IRR #YR->	5	5 Yr Running Average	-29.05%
Median Values											Diff	5, 10 yr	-4.4%	-8.8%					5.5%	<-Median->	5	Return on Equity
				-$669.5	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$613.0
									-$33.5	$0.0	$0.0	$0.0	$0.0	$613.0
				-$648.8	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$423.8
									-$597.4	$0.0	$0.0	$0.0	$0.0	$423.8
Current Liability Coverage Ratio	0.69	0.59	0.92	0.88	1.11	0.98	0.63	0.57	0.72	0.41	0.51	0.51	0.50	0.58	0.48							CFO / Current Liabilities
5 year Median	0.76	0.76	0.82	0.88	0.88	0.92	0.92	0.88	0.72	0.63	0.57	0.51	0.51	0.51	0.51				0.57	<-Median->	10	Current Liability Cov Ratio
Asset Efficiency Ratio	16.31%	15.90%	15.95%	16.64%	17.42%	15.88%	12.26%	10.31%	11.78%	8.24%	10.53%	11.12%	11.57%	12.99%	10.84%							CFO / Total Assets
5 year Median	16.31%	16.31%	16.31%	16.31%	16.31%	15.95%	15.95%	15.88%	12.26%	11.78%	10.53%	10.53%	11.12%	11.12%	11.12%				11.7%	<-Median->	10	Return on Assets
Return on Assets ROA	9.28%	8.39%	8.94%	8.38%	9.62%	10.65%	7.64%	4.23%	4.77%	4.57%	4.31%	1.86%	-1.27%	4.94%	6.79%				Net	Income/Assets		Return on Assets
5Yr Median	10.58%	10.58%	9.28%	8.94%	8.94%	8.94%	8.94%	8.38%	7.64%	4.77%	4.57%	4.31%	4.31%	4.31%	4.31%				4.7%	<-Median->	10	Asset Efficiency Ratio
Return on Equity ROE	20.90%	19.20%	17.06%	15.02%	16.91%	17.77%	13.93%	8.89%	9.71%	9.62%	8.71%	3.76%	0.00%	9.88%	13.57%				Net Inc/	Shareholders' equity		Return on Equity
5Yr Median	18.86%	19.20%	19.20%	18.09%	17.06%	17.06%	16.91%	15.02%	13.93%	9.71%	9.62%	8.89%	8.71%	8.71%	8.71%				9.7%	<-Median->	10	Return on Equity
															$708	<-12 mths	5.36%			Estimates		Last 12 months from Qtr
Net Income	$481.92	$533.97	$612.87	$601.40	$731.1	$852.5	$755.3	$582.8	$625.6	$626	$622	$265	-$176	$672
Non-Control Interest	$0.00	$0.87	$5.26	$0.30	$0.00	$0.00	$0.00	$0.00	$0.00	$0	$0	$0	$0	$0
Shareholders	$481.9	$533.1	$607.6	$601.1	$731.1	$852.5	$755.3	$582.8	$625.6	$625.6	$622.0	$265.0	-$176.0	$672.0	$923.5	$948.0	$1,006.0		11.80%	<-Total Growth	10	Net Income
Increase	26.54%	10.62%	13.98%	-1.07%	21.63%	16.61%	-11.40%	-22.84%	7.34%	0.00%	-0.58%	-57.40%	-166.42%	481.82%	37.43%	2.65%	6.12%		EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average	$395.1	$445.9	$490.9	$520.9	$591.0	$665.1	$709.5	$704.6	$709.5	$688.4	$642	$544	$392	$402	$461.3	$526.5	$674.7		1.12%	<-IRR #YR->	10	Net Income	11.80%
Operating Cash Flow	$645.79	$656.31	$769.82	$847.40	$1,073.60	$809.10	$884.50	$1,036.90	$1,078.10	$693	$1,025	$1,191	$1,097	$1,508					1.44%	<-IRR #YR->	5	Net Income	7.42%
Investment Cash Flow	-$1,625.00	-$672.15	-$166.44	-$441.70	-$317.80	-$722.90	-$1,506.60	-$2,494.90	-$387.40	-$799	-$632	-$652	-$285	-$300					-2.56%	<-IRR #YR->	10	5 Yr Running Average	-22.88%
Total Accruals	$1,461.13	$548.93	$4.23	$195.40	-$24.70	$766.30	$1,377.40	$2,040.80	-$65.10	$732	$229	-$274	-$988	-$536					-10.75%	<-IRR #YR->	5	5 Yr Running Average	-43.38%
Total Assets	$5,193.64	$6,356.89	$6,800.25	$7,172.30	$7,596.60	$8,003.00	$9,885.60	$13,793.10	$13,122.80	$13,683	$14,425	$14,260	$13,913	$13,606						Balance Sheet		Assets
Accruals Ratio	28.13%	8.64%	0.06%	2.72%	-0.33%	9.58%	13.93%	14.80%	-0.50%	5.35%	1.59%	-1.92%	-7.10%	-3.94%					-1.92%	<-Median->	5	Ratio
EPS/CF Ratio (WC)	0.56	0.52	0.55	0.50	0.54	0.66	0.62	0.42	0.41	0.24	0.41	0.17	0.00	0.37					0.41	<-Median->	10	EPS/CF Ratio
				-$601.1	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$672.0
									-$625.6	$0.0	$0.0	$0.0	$0.0	$672.0
				-$520.9	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$401.7
									-$709.5	$0.0	$0.0	$0.0	$0.0	$401.7
Change in Close	22.20%	7.97%	25.01%	19.62%	10.21%	-9.89%	10.16%	-26.92%	13.52%	-21.65%	18.88%	-24.29%	-6.83%	75.03%	-5.87%	0.00%	16.40%			Count	30	Years of data
up/down		down	down				down	down	down		down			up						Count	14	46.67%
Meet Prediction?								yes						yes					% right	Count	18	128.57%
Financial Cash Flow	$868.76	$4.93	-$572.89	-$338.60	-$679.8	-$204.1	$606.1	$1,643.8	-$704.7	-$72	-$369	-$343	-$1,030	-$998						C F Statement		Financial Cash Flow
Total Accruals	$592.4	$544.0	$577.1	$534.0	$655.1	$970.4	$771.3	$397.0	$639.6	$803.6	$598.0	$69.0	$42.0	$462.0								Accruals
Accruals Ratio	11.41%	8.56%	8.49%	7.45%	8.62%	12.13%	7.80%	2.88%	4.87%	5.87%	4.15%	0.48%	0.30%	3.40%					3.40%	<-Median->	5	Ratio
Cash	$43.18	$39.35	$72.57	$164.30	$250.5	$122.2	$112.7	$319.4	$308.7	$165	$263	$466	$257	$257	$257							Cash
Cash per Share	$0.11	$0.10	$0.19	$0.42	$0.65	$0.32	$0.29	$0.78	$0.75	$0.40	$0.62	$1.10	$0.61	$0.63	$0.63				$0.62	<-Median->	5	Cash per Share
Percentage of Stock Price	0.43%	0.36%	0.53%	1.01%	1.41%	0.76%	0.63%	2.35%	1.98%	1.34%	1.77%	4.12%	2.47%	1.46%	1.55%				1.77%	<-Median->	5	% of Stock Price
Notes:
June 28, 2026.  Last estimates were for 2026, 2027, 2028, $19631M, $20145M, $20168M Revenue, $1.78, $2.10, $2.40 AEPS, $1.77, $2.05, $2.26 EPS,
$900M, $1036M 2026/7 FCF, $3.64 2026 CFPS, $1736M, $1873M, $1844M EBITDA, $733M, $834M, $879.5M Net Income.
June 25, 2025. Last estimates were for 2024, 2025, 2025 of $18109M, $18634M, $18555M for Revenue, $1.84, $2.20, $2.02 AEPS, $1.63, $2.09, $2.02 EPS,
$0.77, $0.83, $0.86 Dividends, $929M, $1046M, $1142M FCF, $3.45, $3.64 2024/5 CFPS, $1729M, $1917M, $1762M EBITDA, $722M, $900M, $847M Net Income.
Jun 22, 2024.  Last estimates were for 2024, 2025 of $17919M, $18553M for Revenue, $1.81, $2.24, $2.70 2024/6 AEPS, $1.88, $2.11 EPS,
$0.74, $0.80 Dividends, $3.28, $3.45, $3.64 2024/6 CFPS, $1644M, $2066M Ad EBITDA, $77M, $922M Net Income.
June 24, 2023.  Last estimates were for 2023 and 2024 of $16479M, $17255M for Revenue, $1.66 and 2.15 for AEPS, $1.59 and $2.38 for EPS,
$0.74 and $0.84 for dividends, $465M, $969M for FCF, and $624M and $467M for Net Income.
June 26, 2022.  Last estimates were for 2022, 2023 and 2024 of $14715M, $15379M and $16005M for Revenue, $1.65, $2.01 amd $2.38 for EPS,
$0.70 and $0.76 for Dividends for 2022-23, $495 and $900 for FCF 2022-23, $2.88 for CFPS for 2022 and $586M, $639M for 2022-23 for Net Income.
June 24, 2021.  Last estimates were for 2021 and 2022 of $15079M and $15900M for Revenue, $1.39 and 1.67 for EPS,
$0.71 and $0.74 for Dividends, $765M and $816M for FCF, $2.88 for CFPS for 2021 and $594M and $684M for Net Income.
June 23, 2020.  Last estimates were for 2020 and 2021 of $14944M, $15655M for Revenue, $1.69 and $2.03 for EPS,
$0.69 and $0.72 for Div, $2.88 for CFPS for 2020 and $693M and $789M for Net Income.
June 26, 2019.  Last estimates were for 2019, 2020 and 2021 of $13926M, $14656M and $14975M for Revenue, $2.08, $2.37 and $2.38 for EPS,
$2.10 and $2.88 for CFPS for 2019 and 2020 and $801M and $876M for Net Income for 2019 and 2020.
June 20, 2018.  Last estimates were for 2018, 2019 and 2020 of $11754M, $12116M and $12144M for Revenue, $2.11, $2.26 and $2.41 for EPS,
$2.40 and $2.74 for CFPS for 2018 and 2019 and $823M and $867M for Net Income for 2018 and 2019.
June 24, 2017.  Last estimates were for 2017, 2018 anmd 2019 of $11163M, $11651M and $11534M for Revenue, $1.80, $1.99 and $2.13 for EPS,
$2.21, $2.46 and $2.57 for CFPS and $720M and $760M for Net Income.
July 12, 2015.  Last estimates were for 2015, 2016 and 2017 of $10129M, $19360M and $10509M for Revenue, $3.25, $3.50 and $3.68 for EPS,
$4.38, $4.40 and $4.55 for CFPS and $619.87M and $657.87M for Net Income for 2015 and 2016.
July 9, 2014.  Last estimates were for 2014 to 2016 of $8843M, $8964M and $8997M for Revenue, $3.14, $3.41 and $3.32 for EPS, $4.21 and $4.55 (2014 and 2015) for CFPS.
June 8, 2013.  Last estimates were for 2013 and 2014 of $7106M and $7372M for Revenue, $2.62 and $2.85 for EPS.
In 2013 went into debt to buy Moringstar
June 16, 2012.  Last estiamtes were for 2012 and 2013 at $6725M and $6861M for Revenue, $2.53 and $2.73 for EPS and $3.08 and $3.22 for CF.
July 2, 2011.  Last I looked I got estimates for 2011 and 2012 of $2.02 and $2.33 for EPS and $2.59 and $2.95 for CF.
Jun 8, 2010.  When I last looked at this stock, I got estimates for 2009 and 2010 of $1.55 and $1.80 for earnings and $2.09 and $2.33 for CF.
Jul 13, 2009. When I last look at this stock, I got earnings estimate of $1.40 and $1.60 for Mar 2009 and 2010 year ends.  Earnings for 2009 were $1.37; estimate for 2010 lowered to $1.55.
AP 2008 - Stock is doing well.  Accrual Ratio is rather high at 12.86%.
AP 2007 - Revenue is not increasing much, but earnings are going up.  Besides revenue increase, stock is OK.
This stock was first issued in 1997 for $17 per share./td>
Canadian dairy company founded in 1954 by the Saputo family. /td>
Sector:
Conssumer Staple; Consumer
What should this stock accomplish?
Would I buy this company and Why.
I already own this company
Why am I following this stock.
This was a stock on Mike Higgs' Canadian Dividend Growth Stock list and on the dividend lists that I followed.  I bought this stock first in 2006 for my RRSP account.
Because I am now taking money from my RRSP accounts, I have been selling this stock because of the low dividend.  I still like this stock so I have been buying it in my TFSA.
Why I bought this stock.
Dividends
Dividends are paid quarterly in Cycle 3, which is  June, September,  December, and March  Dividends are generally declared for shareholders and paid to shareholders that month.
For example, the dividend declared for shareholders of record of September 5, 2013 was paid on September 16, 2013.  Note June dividend is often paid in July.
Misson Statement or closes thing I can find.
What I am looking for is a statement that the company wants to do well by their customers, employees, and community and and thereby earn shareholders a reasonable return.
For customers
For employees
For community
For investors
How they make their money.
Saputo Inc produces, markets, and distributes dairy products, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products,
and dairy ingredients. The Company is a cheese manufacturer and fluid milk and cream processor in Canada, a dairy processor in Australia, a cheese
producer and extended shelf-life and cultured dairy products manufacturer in the USA, and a manufacturer of branded cheese and dairy spreads in the UK.
Shares; '%, Value $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			Shares	%, Val $M		Update this each year??	Change
Date	Jun 20	2018	Jun 26	2019	Jun 23	2020	Jun 21	2021	Jun 26	2022	Jun 24	2023	Jun 22	2024	Jun 24	2025			Jun 28	2026
Colizza, Carl							0.034	0.01%	0.042	0.01%	0.047	0.01%	0.052	0.01%	0.076	0.02%			0.085	0.02%			13.14%
CEO - Shares - Amount								$1.001		$1.482		$1.241		$1.385		$1.876				$3.715
Options - percentage							0.734	0.18%	0.846	0.20%	0.923	0.22%	1.134	0.27%	1.930	0.46%			1.334	0.33%			-30.90%
Options - amount								$21.731		$29.766		$24.587		$30.213		$47.931				$57.971
Therrien, Maxime	0.021	0.01%	0.021	0.01%	0.026	0.01%	0.040	0.01%	0.044	0.01%	0.046	0.01%	0.055	0.01%	0.062	0.01%			0.064	0.02%			4.09%
CFO - Shares - Amount		$0.951		$0.705		$0.985		$1.181		$1.560		$1.232		$1.472		$1.534				$2.794
Options - percentage	0.346	0.09%	0.424	0.10%	0.539	0.13%	0.615	0.15%	0.705	0.17%	0.773	0.18%	0.928	0.22%	1.107	0.26%			0.603	0.15%			-45.54%
Options - amount		$15.754		$14.127		$20.385		$18.221		$24.807		$20.590		$24.727		$27.497				$26.212
Gagnon, Martin													0.026	0.01%	0.031	0.01%			0.031	0.01%			1.35%
Officer - Shares - Amount														$0.692		$0.768				$1.363
Options - percentage													0.530	0.12%	0.667	0.16%			0.404	0.10%			-39.47%
Options - amount														$14.134		$16.560				$17.543
Brockman, Terry	0.000	0.00%	0.083	0.02%	0.104	0.03%	0.104	0.02%	0.104	0.02%	0.104	0.02%	0.105	0.02%	0.106	0.03%			0.106	0.03%		last update June 2026	0.00%
Officer - Shares - Amount		$0.000		$2.774		$3.912		$3.074		$3.654		$2.777		$2.789		$2.624				$4.592
Options - percentage	0.000	0.00%	0.995	0.24%	0.997	0.24%	1.022	0.25%	1.043	0.25%	0.958	0.23%	0.970	0.23%	0.974	0.23%			0.880	0.22%			-9.72%
Options - amount		$0.000		$33.131		$37.674		$30.255		$36.698		$25.526		$25.841		$24.195				$38.234
Cutts, Leanne													0.003	0.00%	0.020	0.00%			0.024	0.01%			22.00%
Officer - Shares - Amount														$0.088		$0.484				$1.034
Options - percentage													0.183	0.04%	0.341	0.08%			0.320	0.08%			-6.29%
Options - amount														$4.881		$8.476				$13.903
Carrière, Louis-Philippe	0.046	0.01%	0.046	0.01%	0.046	0.01%	0.046	0.01%	0.046	0.01%	0.046	0.01%	0.046	0.01%
Director - Shares - Amount		$2.097		$1.539		$1.755		$1.375		$1.635		$1.237		$1.419
Options - percentage	0.612	0.16%	0.656	0.16%	0.561	0.14%	0.518	0.12%	0.526	0.12%	0.023	0.01%	1.102	0.26%
Options - amount		$27.872		$21.844		$21.211		$15.346		$18.517		$0.603		$34.314
Demone, Henry E.	0.011	0.00%	0.011	0.00%	0.011	0.00%	0.011	0.00%	0.011	0.00%	0.012	0.00%	0.012	0.00%
Director - Shares - Amount		$0.515		$0.376		$0.427		$0.335		$0.402		$0.307		$0.362
Options - percentage	0.039	0.01%	0.046	0.01%	0.050	0.01%	0.055	0.01%	0.060	0.01%	0.067	0.02%	0.075	0.02%
Options - amount		$1.786		$1.535		$1.902		$1.633		$2.129		$1.782		$2.322
Fata, Anthony M.											0.013	0.00%	0.013	0.00%	0.013	0.00%			0.013	0.00%			0.00%
Director - Shares - Amount												$0.339		$0.406		$0.324				$0.567
Options - percentage											0.134	0.03%	0.150	0.04%	0.167	0.04%			0.181	0.04%			8.19%
Options - amount												$3.578		$4.675		$4.145				$7.850
King, Annalisa											0.003	0.00%	0.001	0.00%	0.001	0.00%			0.001	0.00%			0.00%
Director - Shares - Amount												$0.081		$0.032		$0.026				$0.045
Options - percentage											0.080	0.02%	0.094	0.02%	0.108	0.03%			0.120	0.03%			10.74%
Options - amount												$2.134		$2.917		$2.681				$5.196
Saputo, Lino Anthony	0.179	0.05%	0.179	0.04%	0.179	0.04%	0.199	0.05%	0.199	0.05%	0.199	0.05%	0.199	0.05%	0.199	0.05%			0.197	0.05%			-0.97%
Chair  Shares - Amount		$8.145		$5.954		$6.760		$5.890		$7.004		$5.304		$5.306		$4.945				$8.571
Options - percentage	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%			0.000	0.00%			#DIV/0!
Options - amount		$0.000		$0.000		$0.000		$0.000		$0.000		$0.000		$0.000		$0.000				$0.000
Saputo, Emanuele	127.060	32.56%	127.060	31.09%	129.585	31.43%	132.770	31.86%	134.236	31.84%	135.734	31.99%	135.734	31.99%	164.228	39.26%			164.228	40.54%			0.00%
10 % holder - Shares - Amt		$5,787.576		$4,229.822		$4,897.021		$3,931.323		$4,725.097		$3,617.308		$3,617.308		$4,077.784				$7,137.353
Options - percentage	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%			0.000	0.00%			#DIV/0!
Options - amount		$0.000		$0.000		$0.000		$0.000		$0.000		$0.000		$0.000		$0.000				$0.000
Saputo, Francesco	40.000	10.25%	40.000	9.79%	42.500	10.31%	42.500	10.20%	42.500	10.08%	42.500	10.02%	42.500	10.02%
10% holder		$1,822.000		$1,331.600		$1,606.075		$1,258.425		$1,496.000		$1,132.625		$1,132.625
Saputo, Joey	0.320	0.08%	0.320	0.08%	0.320	0.08%	0.320	0.08%	0.320	0.08%	0.320	0.08%	0.320	0.08%	2.485	0.59%			2.485	0.61%			0.00%
10% holder		$14.576		$10.653		$12.093		$9.475		$11.264		$8.528		$8.528		$61.701				$107.995
Jolina Capital					129.585	31.43%
Owns 34%						$4,897.021
Increase in O/S Shares									1.621	0.39%	1.685	0.40%	0.366	0.09%	0.032	0.01%			5.938	1.42%
due to SO 2014										$47.990		$59.302		$14.976		$1.311				$147.433
Book Value										$51.000		$55.000		$12.000		$1.000				$250.000
Insider Buying										-$0.352		-$0.535		-$0.716		-$1.432				-$0.396
Insider Selling										$9.029		$13.919		$3.354		$0.012				$94.032
Net Insider Selling										$8.677		$13.384		$2.638		-$1.420				$93.636
% of Market Cap										0.07%		0.09%		0.02%		-0.01%				0.53%
Directors	10		10		10		10		10		10		11		10				11
Women	5	50%	5	50%	5	50%	5	50%	6	60%	6	60%	6	55%	6	60%			7	64%
Minorities	1	10%	1	10%	1	10%	1	10%	1	10%	1	10%	2	18%	2	20%			2	18%
Institutions/Holdings	221	18.15%	213	21.42%	20	56.40%	20	12.69%	20	8.95%	20	12.44%	20	12.72%	20	20.53%			20	18.51%
Total Shares Held	75.477	19.34%	83.727	20.49%	220.526	53.48%	52.366	12.57%	37.309	8.85%	52.479	12.37%	53.968	12.90%	85.440	20.42%			74.182	18.31%		using market value
Increase/Decrease	0.296	0.39%	-0.100	-0.12%	-0.720	-0.33%	0.246	0.47%	-0.501	-1.33%	0.544	1.05%	4.672	9.48%	0.979	1.16%			-6.587	-8.16%
Starting No. of Shares	75.182	Reuters	83.826	Reuters	221.246	Top 20 MS	52.120	Top 20 MS	37.811	Top 20 Funds	51.935		49.296		84.461				80.769			shares outstanding
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