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
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet.														Q2 2024					https://www.annualreports.com/Company/wajax-corporation
See my website on stocks or see my blog at the following sites.							https://spbrunner.com/stocks.html				https://spbrunner.blogspot.com/
Wajax Corp						TSX:	WJX	OTC:	WJXFF	https://www.wajax.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
Split Date
Split
Cost of Sales								$1,261.2	$1,160.7	$1,305.4	$1,572.5	$1,704.0	$1,683.8	$1,749.7	<-12 mths	3.91%		33.51%	<-Total Growth	6	Cost of Sales
Change									-7.97%	12.47%	20.46%	8.36%	-1.19%	3.91%	<-12 mths	429.69%		0.00%	<-Median->	5	Change
Ratio								0.81	0.82	0.80	0.80	0.79	0.80	0.81	<-12 mths	1.43%		0.80	<-Median->	6	Ratio
Selling & Admin & Finance								$232.5	$210.6	$258.7	$293.8	$341.0	$349.7	$340.0	<-12 mths	-2.77%		50.43%	<-Total Growth	6	Selling & Admin
Change									-9.42%	22.85%	13.57%	16.06%	2.56%	-2.77%	<-12 mths	-208.46%		13.57%	<-Median->	5	Change
Ratio								0.15	0.15	0.16	0.15	0.16	0.17	0.16	<-12 mths	-5.10%		0.15	<-Median->	6	Ratio
Total								$1,493.7	$1,371.3	$1,564.1	$1,866.3	$2,045.0	$2,033.5	$2,033.5	<-12 mths	0.00%		36.14%	<-Total Growth	6	Total
Change									-8.20%	14.06%	19.32%	9.58%	-0.56%	0.00%	<-12 mths	100.00%		9.58%	<-Median->	5	Change
Ratio								0.96	0.96	0.96	0.95	0.95	0.97	0.95	<-12 mths	-2.39%		0.96	<-Median->	6	Ratio
														$2,149.1	<-12 mths	2.45%
Revenue*	$1,466.0	$1,428.5	$1,451.3	$1,273.3	$1,221.9	$1,319.3	$1,481.6	$1,553.0	$1,422.6	$1,637.3	$1,962.8	$2,154.7	$2,097.6	$2,153	$2,176	$2,234		44.53%	<-Total Growth	10	Revenue
Increase	6.46%	-2.56%	1.60%	-12.27%	-4.04%	7.97%	12.30%	4.82%	-8.40%	15.09%	19.88%	9.77%	-2.65%	2.64%	1.07%	2.67%		3.75%	<-IRR #YR->	10	Revenue	44.53%
5 year Running Average	$1,228.3	$1,271.3	$1,367.0	$1,399.2	$1,368.2	$1,338.9	$1,349.5	$1,369.8	$1,399.7	$1,482.8	$1,611.5	$1,746.1	$1,855.0	$2,001.1	$2,108.8	$2,163.1		6.20%	<-IRR #YR->	5	Revenue	35.06%
Revenue per Share	$87.59	$85.32	$86.50	$63.71	$61.63	$65.88	$74.24	$77.61	$71.01	$76.48	$91.42	$99.43	$96.24	$99.01	$100.07	$102.73		3.10%	<-IRR #YR->	10	5 yr Running Average	35.70%
Increase	5.78%	-2.60%	1.39%	-26.35%	-3.26%	6.89%	12.70%	4.53%	-8.50%	7.69%	19.54%	8.77%	-3.21%	2.88%	1.07%	2.67%		6.25%	<-IRR #YR->	5	5 yr Running Average	35.42%
5 year Running Average	$73.81	$76.24	$81.82	$81.19	$76.95	$72.61	$70.39	$68.61	$70.07	$73.04	$78.15	$83.19	$86.92	$92.51	$97.23	$99.50		1.07%	<-IRR #YR->	10	Revenue per Share	11.26%
P/S (Price/Sales) Med	0.52	0.45	0.40	0.37	0.32	0.34	0.29	0.21	0.17	0.31	0.23	0.26	0.29	0.20	0.00	0.00		4.40%	<-IRR #YR->	5	Revenue per Share	24.01%
P/S (Price/Sales) Close	0.47	0.43	0.36	0.26	0.37	0.37	0.22	0.19	0.24	0.32	0.22	0.30	0.22	0.24	0.24	0.23		0.61%	<-IRR #YR->	10	5 yr Running Average	6.23%
*Revenue in M CDN $					P/S Med	20 yr	0.34	15 yr	0.32	10 yr	0.25	5 yr	0.24		-3.85%	Diff M/C		4.84%	<-IRR #YR->	5	5 yr Running Average	26.67%
			-$1,451.3	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$2,097.6
								-$1,553.0	$0.0	$0.0	$0.0	$0.0	$2,097.6
			-$1,367.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$1,855.0
								-$1,369.8	$0.0	$0.0	$0.0	$0.0	$1,855.0
			-$86.50	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$96.24
								-$77.61	$0.00	$0.00	$0.00	$0.00	$96.24
			-$81.82	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$86.92
								-$68.61	$0.00	$0.00	$0.00	$0.00	$86.92
														$48.70	<-12 mths	-7.94%
														$2.18	<-12 mths	-8.40%
Adjusted Profit CDN$	$66.0	$43.3	$27.8	$27.8	$20.1	$30.1	$39.9	$41.9	$35.1	$51.5	$69.8	$83.5	$52.9					90.29%	<-Total Growth	10	Adjusted Profit CDN$
Basic	$3.95	$2.85	$2.58	$1.50	$0.55	$1.58	$2.02	$2.10	$1.75	$2.41	$3.26	$3.88	$2.44					-5.43%	<-Total Growth	10	AEPS
AEPS* Dilued	$3.89	$2.55	$2.54	$1.47	$0.54	$1.53	$1.98	$2.05	$1.71	$2.34	$3.15	$3.75	$2.38	$2.61	$2.84	$3.10		-6.30%	<-Total Growth	10	AEPS
Increase	3.12%	-34.53%	-0.29%	-42.13%	-63.27%	183.33%	29.41%	3.54%	-16.59%	36.84%	34.62%	19.05%	-36.53%	9.66%	8.81%	9.15%		10	0	10	Years of Data, EPS P or N	100.00%
5 year Running Average	$3.50	$3.10	$3.20	$2.84	$2.20	$1.73	$1.61	$1.51	$1.56	$1.92	$2.25	$2.60	$2.67	$2.85	$2.95	$2.94		-0.65%	<-IRR #YR->	10	AEPS	-6.30%
AEPS Yield	9.55%	6.98%	8.25%	8.76%	2.34%	6.20%	11.94%	13.85%	10.01%	9.64%	15.97%	12.39%	11.35%	10.88%	11.83%	12.92%		3.03%	<-IRR #YR->	5	AEPS	16.10%
Payout Ratio	77.88%	107.95%	94.49%	80.50%	185.19%	65.36%	50.51%	48.78%	58.48%	42.74%	31.75%	33.07%	57.98%	53.64%	49.30%	45.16%		-1.82%	<-IRR #YR->	10	5 yr Running Average	-16.75%
5 year Running Average	82.07%	85.56%	78.18%	83.24%	109.20%	106.70%	95.21%	86.07%	81.66%	53.17%	46.45%	42.96%	44.80%	43.83%	45.15%	47.83%		11.98%	<-IRR #YR->	5	5 yr Running Average	76.09%
Price/AEPS Median	11.76	14.97	13.56	16.12	36.20	14.52	10.99	8.08	6.98	10.10	6.66	6.85	11.67	7.71	0.00	0.00		10.55	<-Median->	10	Price/AEPS Median
Price/AEPS High	13.52	18.12	15.46	20.90	47.59	16.80	14.11	9.60	10.95	12.56	7.76	8.53	14.53	9.38	0.00	0.00		13.34	<-Median->	10	Price/AEPS High
Price/AEPS Low	10.00	11.82	11.65	11.35	24.81	12.25	7.88	6.56	3.01	7.65	5.55	5.17	8.81	6.04	0.00	0.00		7.76	<-Median->	10	Price/AEPS Low
Price/AEPS Close	10.47	14.32	12.11	11.42	42.70	16.12	8.37	7.22	9.99	10.37	6.26	8.07	8.81	9.20	8.45	7.74		9.40	<-Median->	10	Price/AEPS Close
Trailing P/AEPS Close	10.80	9.38	12.08	6.61	15.69	45.69	10.84	7.47	8.34	14.19	8.43	9.61	5.59	10.08	9.20	8.45		9.02	<-Median->	10	Trailing P/AEPS Close
Median Values	Historical	in order	9.60	11.75	7.53	10.22	P/AEPS	5 Yrs	in order	6.98	10.95	5.55	8.81		31.75%	Diff M/C					DPR 75% to 95% best
* Adjusted Earnings per Share
			-$2.54	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.38
								-$2.05	$0.00	$0.00	$0.00	$0.00	$2.38
			-$3.20	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.67
								-$1.51	$0.00	$0.00	$0.00	$0.00	$2.67
														$1.65	<-12 mths	-14.51%
EPS Basic	$3.95	$2.85	$2.46	-$0.59	$0.55	$1.58	$1.82	$1.98	$1.55	$2.50	$3.38	$3.77	$1.97					-19.92%	<-Total Growth	10	EPS Basic
EPS Diluted*	$3.89	$2.81	$2.42	-$0.59	$0.54	$1.53	$1.78	$1.93	$1.58	$2.42	$3.26	$3.64	$1.93	$2.62	$3.09			-20.25%	<-Total Growth	10	EPS Diluted
Increase	3.18%	-27.76%	-13.88%	-124.38%	191.53%	183.33%	16.34%	8.43%	-18.13%	53.16%	34.71%	11.66%	-46.98%	35.58%	17.93%			9	1	10	Years of Data, EPS P or N
Earnings Yield	9.5%	7.7%	7.9%	-3.5%	2.3%	6.2%	10.7%	13.0%	9.2%	10.0%	16.5%	12.0%	9.2%	10.9%	12.9%			-2.24%	<-IRR #YR->	10	Earnings per Share	-20.25%
5 year Running Average	$3.50	$3.15	$3.23	$2.46	$1.81	$1.34	$1.14	$1.04	$1.47	$1.85	$2.19	$2.57	$2.57	$2.77	$2.91			0.00%	<-IRR #YR->	5	Earnings per Share	0.00%
10 year Running Average	$2.99	$3.21	$3.34	$3.08	$2.70	$2.42	$2.15	$2.13	$1.97	$1.83	$1.77	$1.85	$1.80	$2.12	$2.38			-2.28%	<-IRR #YR->	10	5 yr Running Average	-20.56%
* Diluted ESP per share									E/P	10 Yrs	9.61%	5Yrs	9.97%					19.84%	<-IRR #YR->	5	5 yr Running Average	147.21%
			-$2.42	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.93
								-$1.93	$0.00	$0.00	$0.00	$0.00	$1.93
			-$3.23	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.57
								-$1.04	$0.00	$0.00	$0.00	$0.00	$2.57
Dividend*														$1.40	$1.52				Estimates		Dividend*
Increase														1.45%	8.57%				Estimates		Increase
Payout Ratio EPS														53.50%	49.26%				Estimates		Payout Ratio EPS
Special Dividends	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00		$0.00	<-Median->	10	Special Dividends
Dividend*	$3.03	$2.75	$2.40	$1.18	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.24	$1.38	$1.40	$1.40	$1.40		-42.50%	<-Total Growth	10	Dividends
Increase	44.98%	-9.24%	-12.73%	-50.70%	-15.49%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	24.00%	11.29%	1.45%	0.00%	0.00%		8	9	38	Years of data, Count P, N
Average Increases 5 Year Running	-0.14%	-3.12%	1.26%	-2.32%	-8.64%	-17.63%	-15.78%	-13.24%	-3.10%	0.00%	0.00%	4.80%	7.06%	7.35%	7.35%	7.35%		-2.71%	<-Median->	10	Average Incr 5 Year Running
Dividends 5 Yr Running	$3.15	$2.79	$2.73	$2.41	$2.07	$1.67	$1.32	$1.04	$1.00	$1.00	$1.00	$1.05	$1.12	$1.20	$1.28	$1.36		-58.89%	<-Total Growth	10	Dividends 5 Yr Running
Yield H/L Price	6.62%	7.21%	6.97%	4.99%	5.12%	4.50%	4.59%	6.04%	8.38%	4.23%	4.77%	4.83%	4.97%	6.96%				4.90%	<-Median->	10	Yield H/L Price	Item
Yield on High  Price	5.76%	5.96%	6.11%	3.85%	3.89%	3.89%	3.58%	5.08%	5.34%	3.40%	4.09%	3.88%	3.99%	5.72%				3.89%	<-Median->	10	Yield on High  Price	EPS
Yield on Low Price	7.79%	9.14%	8.11%	7.09%	7.46%	5.34%	6.41%	7.43%	19.46%	5.59%	5.72%	6.40%	6.58%	8.88%				6.50%	<-Median->	10	Yield on Low Price	AEPS
Yield on Close Price	7.44%	7.54%	7.80%	7.05%	4.34%	4.05%	6.03%	6.76%	5.85%	4.12%	5.07%	4.10%	6.58%	5.83%	5.83%	5.83%		5.46%	<-Median->	10	Yield on Close Price	CFPS
Payout Ratio EPS	77.89%	97.86%	99.17%	-200.56%	185.19%	65.36%	56.18%	51.81%	63.29%	41.32%	30.67%	34.07%	71.50%	53.50%	45.37%	#DIV/0!		54.00%	<-Median->	10	DPR EPS	FCF
DPR EPS 5 Yr Running	90.17%	88.46%	84.64%	97.99%	114.26%	124.19%	115.90%	99.87%	67.93%	54.11%	45.58%	40.84%	43.80%	43.41%	44.18%	#DIV/0!		82.96%	<-Median->	10	DPR EPS 5 Yr Running
Payout Ratio CFPS	-129.67%	191.10%	76.11%	247.02%	34.07%	280.37%	-681.57%	-206.97%	16.86%	11.26%	31.06%	-30.19%	43.00%	37.84%	37.84%	#DIV/0!		23.96%	<-Median->	10	DPR CF
DPR CF 5 Yr Running	88.04%	88.22%	106.78%	152.51%	182.80%	99.65%	97.14%	165.05%	58.19%	34.39%	28.73%	38.99%	32.80%	40.39%	66.04%	#DIV/0!		77.67%	<-Median->	10	DPR CF 5 Yr Running
Payout Ratio CFPS WC	45.98%	48.10%	43.92%	31.82%	36.43%	24.09%	22.03%	16.39%	18.08%	15.27%	13.15%	13.96%	19.32%	37.84%	679.55%	#DIV/0!		18.70%	<-Median->	10	DPR CF WC
DPR CF WC 5 Yr Running	63.25%	54.97%	48.60%	43.24%	42.76%	38.23%	31.93%	24.39%	21.68%	18.61%	16.49%	15.12%	15.74%	17.77%	23.32%	#DIV/0!		23.03%	<-Median->	10	DPR CF WC 5 Yr Running
Median Values	10 Yr Med	10 Yr Cl	4.90%	5.46%	5 Yr Med	5 Yr Cl	4.83%	5.07%	5 Yr Med	Payout	41.32%	16.86%	15.27%					6.65%	<-IRR #YR->	5	Dividends	38.00%
* Dividends per share	10 Yr Med	and Cur.	19.11%	6.84%	5 Yr Med	and Cur.	20.85%	15.09%	Last Div Inc --->		$0.33	$0.35	6.06%					-5.38%	<-IRR #YR->	10	Dividends	-42.50%
Dividends Growth 15																		-4.33%	<-IRR #YR->	15	Dividends	-48.51%
Dividends Growth 20																		11.38%	<-IRR #YR->	20	Dividends	762.50%
Dividends Growth 25																		0.00%	<-IRR #YR->	25	Dividends	#DIV/0!
Dividends Growth 30																		0.00%	<-IRR #YR->	30	Dividends	#DIV/0!
Dividends Growth 35																		2.61%	<-IRR #YR->	35	Dividends
Dividends Growth 40																		2.40%	<-IRR #YR->	38	Dividends
Dividends Growth 5								-$1.00	$0.00	$0.00	$0.00	$0.00	$1.38								Dividends Growth 5
Dividends Growth 10			-$2.40	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.38								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	$1.38								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	$1.38								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	$1.38								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	$1.38								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	$1.38								Dividends Growth 35
Dividends Growth 40	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.38								Dividends Growth 40
Historical Dividends	Historical	High Div	15.46%	Low Div	0.00%	10 Yr High	18.26%	10 Yr Low	3.42%	Med Div	4.55%	Close Div	4.23%								Historical Dividends
High/Ave/Median Values	Curr diff	Exp.	-62.27%	#DIV/0!	#DIV/0!	Exp.	-68.05%		70.57%	Cheap	28.21%	Cheap	38.02%								High/Ave/Median
Historical Dividends	Historical	High Div	14.30%	Low Div	3.49%	10 Yr High	18.26%	10 Yr Low	3.46%	Med Div	5.05%	Close Div	5.94%					Since 2011			Historical Dividends
High/Ave/Median Values	Curr diff	Exp.	-59.21%		67.14%	Exp.	-68.05%		68.59%	Cheap	15.51%	Exp.	-1.82%					Chge IT			High/Ave/Median
Future Dividend Yield					Div Yield	8.05%	earning in	5	Years	at IRR of	6.65%	Div Inc.	38.00%								Future Dividend Yield
Future Dividend Yield					Div Yield	11.11%	earning in	10	Years	at IRR of	6.65%	Div Inc.	90.44%								Future Dividend Yield
Future Dividend Yield					Div Yield	15.33%	earning in	15	Years	at IRR of	6.65%	Div Inc.	162.81%								Future Dividend Yield
Future Dividend Paid					Div Paid	$1.93	earning in	5	Years	at IRR of	6.65%	Div Inc.	38.00%								Future Dividend Paid
Future Dividend Paid					Div Paid	$2.67	earning in	10	Years	at IRR of	6.65%	Div Inc.	90.44%								Future Dividend Paid
Future Dividend Paid					Div Paid	$3.68	earning in	15	Years	at IRR of	6.65%	Div Inc.	162.81%								Future Dividend Paid
Dividend Covering Cost					Total Div	$8.00	over	5	Years	at IRR of	6.65%	Div Cov.	33.31%								Dividend Covering Cost
Dividend Covering Cost					Total Div	$17.10	over	10	Years	at IRR of	6.65%	Div Cov.	71.24%								Dividend Covering Cost
Dividend Covering Cost					Total Div	$29.66	over	15	Years	at IRR of	6.65%	Div Cov.	123.58%								Dividend Covering Cost
Yield if held 5 years	9.72%	11.10%	14.45%	3.93%	2.76%	2.19%	2.62%	2.90%	4.22%	5.12%	4.50%	5.70%	8.33%	11.73%	5.92%	6.68%		4.07%	<-Median->	10	Paid Median Price
Yield if held 10 years	55.04%	47.83%	21.34%	5.29%	2.80%	3.21%	4.04%	6.02%	3.32%	2.76%	2.19%	3.25%	4.01%	5.91%	7.16%	6.30%		3.29%	<-Median->	10	Paid Median Price
Yield if held 15 years	17.96%	18.87%	35.27%	26.59%	20.51%	18.17%	17.39%	8.89%	4.47%	2.80%	3.21%	5.00%	8.31%	4.64%	3.87%	3.06%		8.60%	<-Median->	10	Paid Median Price
Yield if held 20 years	45.74%	36.07%	27.23%	12.40%	7.80%	5.93%	6.86%	14.70%	22.47%	20.51%	18.17%	21.57%	12.27%	6.26%	3.92%	4.49%		13.55%	<-Median->	10	Paid Median Price
Yield if held 25 years	22.87%	22.33%	18.46%	13.33%	13.56%	15.09%	13.11%	11.34%	10.48%	7.80%	5.93%	8.51%	20.28%	31.46%	28.72%	25.43%		12.23%	<-Median->	10	Paid Median Price
Yield if held 30 years					5.76%	7.55%	8.12%	7.69%	11.27%	13.56%	15.09%	16.26%	15.66%	14.68%	10.92%	8.30%		11.27%	<-Median->	9	Paid Median Price
Yield if held 35 years										5.76%	7.55%	10.07%	10.62%	15.77%	18.98%	21.13%		8.81%	<-Median->	4	Paid Median Price
Cost covered if held 5 years	50.59%	56.30%	82.30%	39.99%	28.62%	18.21%	17.27%	15.05%	21.10%	25.58%	22.50%	24.08%	33.93%	50.44%	27.15%	32.53%		23.29%	<-Median->	10	Paid Median Price
Cost covered if held 10 years	468.94%	496.78%	273.94%	134.65%	78.67%	77.32%	82.86%	113.51%	56.58%	42.42%	29.14%	31.01%	31.38%	46.50%	58.41%	53.20%		66.95%	<-Median->	10	Paid Median Price
Cost covered if held 15 years	152.98%	195.99%	455.03%	722.43%	679.96%	620.31%	611.27%	320.04%	157.02%	92.66%	93.35%	104.01%	147.34%	76.55%	60.15%	44.05%		238.53%	<-Median->	10	Paid Median Price
Cost covered if held 20 years	389.66%	374.62%	351.28%	336.98%	258.67%	202.36%	241.15%	531.20%	834.79%	782.53%	711.14%	702.40%	370.02%	183.95%	110.63%	115.23%		450.61%	<-Median->	10	Paid Median Price
Cost covered if held 25 years	209.09%	242.75%	244.11%	365.39%	449.47%	515.44%	460.96%	410.08%	389.39%	297.68%	231.99%	277.11%	613.79%	970.07%	914.22%	835.03%		399.74%	<-Median->	10	Paid Median Price
Cost covered if held 30 years					204.88%	271.99%	296.21%	283.99%	421.73%	517.26%	590.92%	529.68%	473.83%	452.50%	347.78%	272.40%		421.73%	<-Median->	9	Paid Median Price
Cost covered if held 35 years										233.66%	309.72%	338.76%	327.22%	489.56%	604.31%	693.86%		318.47%	<-Median->	4	Paid Median Price
Earnings less Dividends	$3.79	$3.42	$4.08	$0.85	-$1.29	-$1.62	-$0.90	$0.01	$2.36	$4.24	$5.97	$7.59	$7.21	$7.85							Dollar Test
Change in MV per Share	$8.39	$15.04	$8.74	-$18.52	-$15.26	-$15.76	-$19.51	-$15.80	-$1.08	$0.96	-$4.67	$13.03	$6.08	$6.82							Dollar Test
Ratio	2.21	4.40	2.14	-21.87	11.80	9.71	21.60	-2357.68	-0.46	0.23	-0.78	1.72	0.84	0.87							Dollar Test
																				Yr	Item	Tot. Growth
Revenue Growth								$1,553.0	$1,422.6	$1,637.3	$1,962.8	$2,154.7	$2,097.6	$2,149	<-12 mths	2.45%		35.06%	<-Total Growth	5	Revenue Growth	35.06%
AEPS Growth								$2.05	$1.71	$2.34	$3.15	$3.75	$2.38	$2.18	<-12 mths	-8.40%		16.10%	<-Total Growth	5	AEPS Growth	16.10%
Net Income Growth								$39.5	$31.7	$53.2	$72.4	$81.0	$42.8	$36	<-12 mths	-15.79%		8.33%	<-Total Growth	5	Net Income Growth	8.33%
Cash Flow Growth								-$9.7	$118.8	$190.1	$69.1	-$89.0	$70.0	$140	<-12 mths	100.39%		823.50%	<-Total Growth	5	Cash Flow Growth	823.50%
Dividend Growth								$1.00	$1.00	$1.00	$1.00	$1.24	$1.38	$1.40	<-12 mths	1.45%		38.00%	<-Total Growth	5	Dividend Growth	38.00%
Stock Price Growth								$14.80	$17.09	$24.27	$19.73	$30.27	$20.96	$24.00	<-12 mths	14.50%		41.62%	<-Total Growth	5	Stock Price Growth	41.62%
Revenue Growth			$1,451.3	$1,273.3	$1,221.9	$1,319.3	$1,481.6	$1,553.0	$1,422.6	$1,637.3	$1,962.8	$2,154.7	$2,097.6	$2,153	<-this year	2.64%		44.53%	<-Total Growth	10	Revenue Growth	44.53%
AEPS Growth			$2.54	$1.47	$0.54	$1.53	$1.98	$2.05	$1.71	$2.34	$3.15	$3.75	$2.38	$2.61	<-this year	9.66%		-6.30%	<-Total Growth	10	AEPS Growth	-6.30%
Net Income Growth			$41.2	-$11.0	$11.0	$30.9	$35.9	$39.5	$31.7	$53.2	$72.4	$81.0	$42.8	$57	<-this year	32.97%		3.78%	<-Total Growth	10	Net Income Growth	3.78%
Cash Flow Growth			$52.9	$9.6	$58.2	$7.1	-$2.9	-$9.7	$118.8	$190.1	$69.1	-$89.0	$70.0	$80	<-this year	15.02%		32.22%	<-Total Growth	10	Cash Flow Growth	32.22%
Dividend Growth			$2.40	$1.18	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.24	$1.38	$1.40	<-this year	1.45%		-42.50%	<-Total Growth	10	Dividend Growth	-42.50%
Stock Price Growth			$30.77	$16.79	$23.06	$24.67	$16.58	$14.80	$17.09	$24.27	$19.73	$30.27	$20.96	$29.00	<-this year	38.36%		-31.88%	<-Total Growth	10	Stock Price Growth	-31.88%
Dividends on Shares				$39.05	$33.00	$33.00	$33.00	$33.00	$33.00	$33.00	$33.00	$40.92	$45.54	$46.20	$46.20	$46.20		$356.51	No of Years	10	Total Divs	12/31/14
Paid			$1,015.41	$554.07	$760.98	$814.11	$547.14	$488.40	$563.97	$800.91	$651.09	$998.91	$691.68	$792.00	$792.00	$792.00		$691.68	No of Years	10	Worth	$30.77
Total																		$1,048.19
Dividends on Shares									$68.00	$68.00	$68.00	$84.32	$93.84	$95.20	$95.20	$95.20		$382.16	No of Years	5	Total Divs	12/31/19
Paid								$1,006.40	$1,162.12	$1,650.36	$1,341.64	$2,058.36	$1,425.28	$1,632.00	$1,632.00	$1,632.00		$1,425.28	No of Years	5	Worth	$14.80
Total																		$1,807.44
Graham No. AEPS	$35.57	$29.09	$29.09	$21.85	$13.02	$22.08	$25.75	$27.02	$25.01	$30.97	$38.53	$43.96	$35.48	$37.54	$39.16	$40.92		21.94%	<-Total Growth	10	Graham Price AEPS
Price/GP Ratio Med	1.29	1.31	1.18	1.08	1.50	1.01	0.85	0.61	0.48	0.76	0.54	0.58	0.78	0.54				0.77	<-Median->	10	Price/GP Ratio
Price/GP Ratio High	1.48	1.59	1.35	1.41	1.97	1.16	1.08	0.73	0.75	0.95	0.63	0.73	0.97	0.65				0.96	<-Median->	10	Price/GP Ratio
Price/GP Ratio Low	1.09	1.03	1.02	0.76	1.03	0.85	0.61	0.50	0.21	0.58	0.45	0.44	0.59	0.42				0.58	<-Median->	10	Price/GP Ratio
Price/GP Ratio Close	1.15	1.25	1.06	0.77	1.77	1.12	0.64	0.55	0.68	0.78	0.51	0.69	0.59	0.64	0.61	0.59		0.69	<-Median->	10	Price/GP Ratio
Prem/Disc Close	14.54%	25.41%	5.76%	-23.16%	77.05%	11.72%	-35.61%	-45.23%	-31.66%	-21.62%	-48.79%	-31.14%	-40.92%	-36.08%	-38.72%	-41.35%		-31.40%	<-Median->	10	Graham Price
Graham No. EPS	$35.57	$30.55	$28.40	$13.24	$13.02	$22.08	$24.41	$26.22	$24.04	$31.49	$39.20	$43.31	$31.95	$37.59	$40.82	$0.00		12.50%	<-Total Growth	10	Graham Price EPS
Price/GP Ratio Med	1.29	1.25	1.21	1.79	1.50	1.01	0.89	0.63	0.50	0.75	0.53	0.59	0.87	0.54				0.81	<-Median->	10	Price/GP Ratio
Price/GP Ratio High	1.48	1.51	1.38	2.32	1.97	1.16	1.14	0.75	0.78	0.93	0.62	0.74	1.08	0.65				1.01	<-Median->	10	Price/GP Ratio
Price/GP Ratio Low	1.09	0.99	1.04	1.26	1.03	0.85	0.64	0.51	0.21	0.57	0.45	0.45	0.66	0.42				0.60	<-Median->	10	Price/GP Ratio
Price/GP Ratio Close	1.15	1.19	1.08	1.27	1.77	1.12	0.68	0.56	0.71	0.77	0.50	0.70	0.66	0.64	0.59	#DIV/0!		0.70	<-Median->	10	Price/GP Ratio
Prem/Disc Close	14.55%	19.40%	8.35%	26.78%	77.05%	11.72%	-32.08%	-43.55%	-28.91%	-22.93%	-49.67%	-30.10%	-34.39%	-36.16%	-41.21%	#DIV/0!		-29.51%	<-Median->	10	Graham Price
Price Close	$40.74	$36.48	$30.77	$16.79	$23.06	$24.67	$16.58	$14.80	$17.09	$24.27	$19.73	$30.27	$20.96	$24.00	$24.00	$24.00		-31.88%	<-Total Growth	10	Stock Price
Increase	5.65%	-10.46%	-15.65%	-45.43%	37.34%	6.98%	-32.79%	-10.74%	15.47%	42.01%	-18.71%	53.42%	-30.76%	14.50%	0.00%	0.00%		12.35	<-Median->	10	CAPE (10 Yr P/E)
P/E	10.47	12.98	12.71	-28.46	42.70	16.12	9.31	7.67	10.82	10.03	6.05	8.32	10.86	9.17	7.78	#DIV/0!		7.21%	<-IRR #YR->	5	Stock Price	41.62%
Trailing P/E	10.81	9.38	10.95	6.94	-39.08	45.69	10.84	8.31	8.85	15.36	8.15	9.29	5.76	12.44	9.17	7.78		-3.77%	<-IRR #YR->	10	Stock Price	-31.88%
CAPE (10 Yr P/E)	9.29	9.54	9.68	10.05	11.05	12.02	13.35	13.09	13.20	13.39	12.68	11.78	11.55	10.15	9.10	#DIV/0!		13.75%	<-IRR #YR->	5	Price & Dividend	628.89%
Median 10, 5 Yrs		D.  per yr	4.14%	6.55%	% Tot Ret	1106.99%	47.60%	T P/E	8.58	8.85	P/E:	9.67	10.03					0.37%	<-IRR #YR->	10	Price & Dividend	27.60%
Price 15		D.  per yr	8.65%		% Tot Ret	103.23%						CAPE Diff	-25.74%					-0.27%	<-IRR #YR->	15	Stock Price	-3.99%
Price  20		D.  per yr	18.37%		% Tot Ret	90.33%												1.97%	<-IRR #YR->	20	Stock Price	47.61%
Price  25		D.  per yr	15.69%		% Tot Ret	73.24%												5.73%	<-IRR #YR->	25	Stock Price	303.08%
Price  30		D.  per yr	7.66%		% Tot Ret	72.16%												2.95%	<-IRR #YR->	30	Stock Price	139.54%
Price  35		D.  per yr	5.67%		% Tot Ret	73.97%												1.99%	<-IRR #YR->	35	Stock Price
Price  40		D.  per yr	4.87%		% Tot Ret	83.33%												0.97%	<-IRR #YR->	38	Stock Price
Price & Dividend 15																		8.38%	<-IRR #YR->	15	Price & Dividend	108.12%
Price & Dividend 20																		20.34%	<-IRR #YR->	20	Price & Dividend	340.62%
Price & Dividend 25																		21.43%	<-IRR #YR->	25	Price & Dividend	1106.31%
Price & Dividend 30																		10.61%	<-IRR #YR->	30	Price & Dividend	616.89%
Price & Dividend 35																		7.66%	<-IRR #YR->	35	Price & Dividend
Price & Dividend 40																		5.84%	<-IRR #YR->	38	Price & Dividend
Price  5								-$14.80	$0.00	$0.00	$0.00	$0.00	$20.96								Price  5
Price 10			-$30.77	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$20.96								Price 10
Price & Dividend 5								-$14.80	$1.00	$1.00	$1.00	$1.24	$22.34								Price & Dividend 5
Price & Dividend 10			-$30.77	$1.18	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.24	$22.34								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	$20.96								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	$20.96								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	$20.96								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	$20.96								Price  30
Price  35	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$20.96								Price  35
Price  40	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$20.96								Price  40
Price & Dividend 15	$3.03	$2.75	$2.40	$1.18	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.24	$22.34								Price & Dividend 15
Price & Dividend 20	$3.03	$2.75	$2.40	$1.18	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.24	$22.34								Price & Dividend 20
Price & Dividend 25	$3.03	$2.75	$2.40	$1.18	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.24	$22.34								Price & Dividend 25
Price & Dividend 30	$3.03	$2.75	$2.40	$1.18	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.24	$22.34								Price & Dividend 30
Price & Dividend 35	$3.03	$2.75	$2.40	$1.18	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.24	$22.34								Price & Dividend 35
Price & Dividend 40	$3.03	$2.75	$2.40	$1.18	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.24	$22.34								Price & Dividend 40
Price H/L Median	$45.76	$38.13	$34.43	$23.70	$19.55	$22.22	$21.77	$16.57	$11.94	$23.65	$20.97	$25.69	$27.78	$20.12				-19.33%	<-Total Growth	10	Stock Price
Increase	26.34%	-16.68%	-9.69%	-31.16%	-17.51%	13.66%	-2.05%	-23.89%	-27.95%	98.11%	-11.33%	22.54%	8.12%	-27.58%				-2.13%	<-IRR #YR->	10	Stock Price	-19.33%
P/E	11.76	13.57	14.23	-40.17	36.20	14.52	12.23	8.58	7.55	9.77	6.43	7.06	14.39	7.69				10.89%	<-IRR #YR->	5	Stock Price	67.67%
Trailing P/E	12.14	9.80	12.25	9.79	-33.14	41.15	14.23	9.31	6.18	14.97	8.66	7.88	7.63	10.42				1.31%	<-IRR #YR->	10	Price & Dividend	101.60%
P/E on Run. 5 yr Ave	13.08	12.09	10.66	9.63	10.78	16.56	19.16	15.96	8.11	12.79	9.56	10.01	10.82	7.25				16.38%	<-IRR #YR->	5	Price & Dividend	12.05%
P/E on Run. 10 yr Ave	15.28	11.86	10.30	7.69	7.25	9.18	10.15	7.76	6.07	12.91	11.86	13.88	15.41	9.48				10.50	P/E Ratio		Historical Median
Median 10, 5 Yrs		D.  per yr	3.43%	5.49%	% Tot Ret	262.25%	33.51%	T P/E	8.98	7.88	P/E:	9.18	7.55						Count	39	Years of data
			-$34.43	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$27.78
								-$16.57	$0.00	$0.00	$0.00	$0.00	$27.78
			-$34.43	$1.18	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.00	$1.24	$29.16
								-$16.57	$1.00	$1.00	$1.00	$1.24	$29.16
High Months	May	Feb	Mar	Jan	Dec	Dec	Aug	Feb	Dec	Nov	Jun	Nov	Feb	Aug							High Months
Price High	$52.61	$46.15	$39.28	$30.72	$25.70	$25.70	$27.93	$19.68	$18.73	$29.40	$24.45	$32.00	$34.59	$24.47				-11.94%	<-Total Growth	10	Stock Price
Increase	19.57%	-12.28%	-14.89%	-21.79%	-16.34%	0.00%	8.68%	-29.54%	-4.83%	56.97%	-16.84%	30.88%	8.09%	-29.26%				-1.26%	<-IRR #YR->	10	Stock Price	-11.94%
P/E	13.52	16.42	16.23	-52.07	47.59	16.80	15.69	10.20	11.85	12.15	7.50	8.79	17.92	9.35				11.94%	<-IRR #YR->	5	Stock Price	75.76%
Trailing P/E	13.95	11.86	13.98	12.69	-43.56	47.59	18.25	11.06	9.70	18.61	10.10	9.82	9.50	12.68				13.52	P/E Ratio		Historical Median
Median 10, 5 Yrs								T P/E	10.58	9.82	P/E:	12.00	11.85					35.83	P/E Ratio		Historical High
			-$39.28	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$34.59
								-$19.68	$0.00	$0.00	$0.00	$0.00	$34.59
Low Months	Nov	Jun	Dec	Dec	Aug	Sep	Dec	Aug	Mar	Jan	Oct	Jan	Dec	Aug							Low Months
Price Low	$38.90	$30.10	$29.58	$16.68	$13.40	$18.74	$15.60	$13.45	$5.14	$17.89	$17.48	$19.38	$20.96	$15.76				-29.14%	<-Total Growth	10	Stock Price
Increase	36.83%	-22.62%	-1.73%	-43.61%	-19.66%	39.85%	-16.76%	-13.78%	-61.78%	248.05%	-2.29%	10.87%	8.15%	-24.81%				-3.39%	<-IRR #YR->	10	Stock Price	-29.14%
P/E	10.00	10.71	12.22	-28.27	24.81	12.25	8.76	6.97	3.25	7.39	5.36	5.32	10.86	6.02				9.28%	<-IRR #YR->	5	Stock Price	55.84%
Trailing P/E	10.32	7.74	10.53	6.89	-22.71	34.70	10.20	7.56	2.66	11.32	7.22	5.94	5.76	8.17				7.73	P/E Ratio		Historical Median
Median 10, 5 Yrs								T P/E	7.06	5.94	P/E:	7.18	5.36					5.33	P/E Ratio		Historical Low
			-$29.58	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$20.96
								-$13.45	$0.00	$0.00	$0.00	$0.00	$20.96
														$140.97	<-12 mths	130.79%
Free Cash Flow MS	$45.58	$19.63	$47.07	$3.09	$54.05	$2.48	-$13.68	-$20.96	$108.12	$182.81	$59.12	$100.00	$70.00	$108.3	$45.1	$42.4		48.71%	<-Total Growth	10	Free Cash Flow
Change	-17.28%	-56.93%	139.79%	-93.44%	1649.19%	-95.41%	-651.61%	-53.22%	615.84%	69.08%	-67.66%	69.15%	-30.00%	54.71%	-58.36%	-5.99%		#NUM!	<-IRR #YR->	5	Free Cash Flow MS	433.97%
FCF/CF from Op Ratio	-1.17	0.81	0.89	0.32	0.93	0.35	4.67	2.17	0.91	0.96	0.86	-1.12	1.00	1.35	10.07	#DIV/0!		4.05%	<-IRR #YR->	10	Free Cash Flow MS	48.71%
Dividends paid	$50.60	$46.03	$40.25	$21.46	$19.91	$19.66	$19.63	$19.99	$20.03	$21.06	$21.41	$26.66	$26.66	$30.44	$30.44	$30.44		-33.76%	<-Total Growth	10	Dividends paid
Percentage paid				694.34%	36.84%	792.90%	-143.52%	-95.38%	18.52%	11.52%	36.21%	26.66%	38.09%	28.11%	67.50%	71.80%		31.44%	<-Median->	10	Percentage paid
5 Year Coverage								402.94%	76.32%	38.79%	32.38%	25.44%	22.27%	24.27%	35.45%	39.55%					5 Year Coverage
Dividend Coverage Ratio				0.14	2.71	0.13	-0.70	-1.05	5.40	8.68	2.76	3.75	2.63	3.56	1.48	1.39		2.67	<-Median->	10	Dividend Coverage Ratio
5 Year of Coverage								0.25	1.31	2.58	3.09	3.93	4.49	4.12	2.82	2.53					5 Year of Coverage
								$20.96	0.00	0.00	0.00	0.00	70.00
			-$47.07	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	70.00
Free Cash Flow  Mrk Scr				$4.93	$54.30	$3.75	-$8.46	-$15.61	$108.10	$182.50	$79.15	-$92.50	$69.20	$108.3	$45.1	$42.4		1303.37%	<-Total Growth	9	Free Cash Flow  Mrk Scr
Change					1001.10%	-93.09%	-325.35%	-84.62%	792.50%	68.83%	-56.63%	-216.87%	174.81%	56.50%	-58.36%	-5.99%		-56.63%	<-Median->	9
Free Cash Flow WSJ				$4.93	$54.30	$3.75	-$8.46	-$15.61	$112.26	$184.21	$59.91	-$97.98	$61.08	$108.3	$45.1	$42.4		1138.71%	<-Total Growth	9	Free Cash Flow WSJ
Change					1001.10%	-93.09%	-325.35%	-84.65%	819.06%	64.09%	-67.48%	-263.54%	162.34%	77.31%	-58.36%	-5.99%		#NUM!	<-IRR #YR->	5	Free Cash Flow WSJ	491.24%
FCF/CF from Op Ratio										0.97	0.87	1.10	0.87	1.35	10.07	#DIV/0!		32.26%	<-IRR #YR->	9	Free Cash Flow WSJ
Dividends paid				$21.46	$19.91	$19.66	$19.63	$19.99	$20.03	$21.06	$21.41	$26.66	$26.66	$30.44	$30.44	$30.44		33.91%	<-Total Growth	9	Dividends paid
Percentage paid				435.10%	36.67%	524.09%	-232.22%	-128.06%	17.84%	11.44%	35.74%	-27.21%	43.65%	28.11%	67.50%	71.80%		26.79%	<-Median->	10	Percentage paid
5 Year Coverage								258.68%	67.85%	36.35%	30.73%	44.96%	36.25%	40.01%	76.88%	91.03%					5 Year Coverage
Dividend Coverage Ratio				0.23	2.73	0.19	-0.43	-0.78	5.61	8.75	2.80	-3.67	2.29	3.56	1.48	1.39		1.26	<-Median->	10	Dividend Coverage Ratio
5 Year of Coverage									1.47	2.75	3.25	2.22	2.76	2.50	1.30	1.10					5 Year of Coverage
								$15.61	0.00	0.00	0.00	0.00	61.08
				-$4.93	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	61.08
Market Cap per Share Diluted	$40.22	$35.93	$30.30	$17.79	$22.63	$24.45	$16.42	$14.51	$16.71	$23.59	$19.79	$29.45	$20.59	$23.53	$25.55	$25.55		-32.06%	<-Total Growth	10	Market Cap
Market Cap	$682	$611	$516	$336	$457	$494	$331	$296	$342	$520	$424	$656	$457	$522	$522	$522		-11.51%	<-Total Growth	10	Market Cap
Diluted # of Shares in Million	16.954	16.997	17.037	18.863	20.204	20.205	20.148	20.416	20.487	22.027	21.409	22.272	22.189	22.180	20.427	20.427		30.23%	<-Total Growth	10	Diluted
Change	0.18%	0.26%	0.23%	10.72%	7.11%	0.00%	-0.28%	1.33%	0.35%	7.52%	-2.80%	4.03%	-0.37%	-0.04%	-7.90%	0.00%		0.84%	<-Median->	10	Change
Difference Diluted/Basic	-1.5%	-1.5%	-1.6%	-1.6%	-1.5%	-3.0%	-2.3%	-2.0%	-2.2%	-3.2%	0.6%	-3.4%	-2.1%	-1.8%	-100.0%	-100.0%		-2.17%	<-Median->	10	Difference Diluted/Basic
Basic # of Shares in Millions	16.700	16.737	16.773	18.560	19.898	19.606	19.686	19.999	20.029	21.328	21.531	21.509	21.720	21.779				29.49%	<-Total Growth	10	Average
Change	0.42%	0.22%	0.21%	10.65%	7.21%	-1.47%	0.41%	1.59%	0.15%	6.48%	0.95%	-0.10%	0.98%	0.27%				0.97%	<-Median->	10	Change
Difference Basic/Outstanding	0.2%	0.0%	0.0%	7.7%	-0.4%	2.1%	1.4%	0.1%	0.0%	0.4%	-0.3%	0.7%	0.4%	-0.2%				0.37%	<-Median->	10	Difference Basic/Outstanding
														$140.18	<-12 mths	100.39%
# of Shares in Millions	16.736	16.744	16.779	19.986	19.826	20.027	19.957	20.012	20.034	21.409	21.471	21.670	21.796	21.746	21.746	21.746		2.65%	<-IRR #YR->	10	Shares	29.90%
Change	0.64%	0.04%	0.21%	19.12%	-0.80%	1.01%	-0.35%	0.28%	0.11%	6.87%	0.29%	0.92%	0.58%	-0.23%	0.00%	0.00%		1.72%	<-IRR #YR->	5	Shares	8.92%
CF fr Op $M	-$39.1	$24.1	$52.9	$9.6	$58.2	$7.1	-$2.9	-$9.7	$118.8	$190.1	$69.1	-$89.0	$70.0	$80.5	$4.5			32.22%	<-Total Growth	10	Cash Flow
Increase	-145.50%	161.61%	119.59%	-81.90%	507.72%	-87.72%	-140.99%	-230.23%	1328.74%	60.05%	-63.64%	-228.75%	178.60%	15.02%	-94.43%				SO
5 year Running Average	$59.5	$52.5	$42.7	$26.7	$21.1	$30.4	$25.0	$12.5	$34.3	$60.7	$73.1	$55.9	$71.8	$64.1	$27.0			68.35%	<-Total Growth	10	CF 5 Yr Running
CFPS	-$2.34	$1.44	$3.15	$0.48	$2.93	$0.36	-$0.15	-$0.48	$5.93	$8.88	$3.22	-$4.11	$3.21	$3.70	$3.70			1.78%	<-Total Growth	10	Cash Flow per Share
Increase	-145.21%	161.58%	119.13%	-84.81%	512.64%	-87.85%	-141.14%	-229.32%	1327.39%	49.76%	-63.75%	-227.57%	178.14%	15.28%	0.00%			2.83%	<-IRR #YR->	10	Cash Flow	32.22%
5 year Running Average	$3.58	$3.16	$2.56	$1.58	$1.13	$1.67	$1.36	$0.63	$1.72	$2.91	$3.48	$2.69	$3.43	$2.98	$1.94			#NUM!	<-IRR #YR->	5	Cash Flow	823.50%
P/CF on Med Price	-19.58	26.49	10.92	49.48	6.66	62.30	-148.34	-34.28	2.01	2.66	6.51	-6.25	8.65	5.44	0.00			0.18%	<-IRR #YR->	10	Cash Flow per Share	1.78%
P/CF on Closing Price	-17.43	25.35	9.76	35.05	7.86	69.17	-113.01	-30.63	2.88	2.73	6.13	-7.37	6.53	6.49	6.49			#NUM!	<-IRR #YR->	5	Cash Flow per Share	764.27%
															41.42%	Diff M/C		2.96%	<-IRR #YR->	10	CFPS 5 yr Running	33.84%
														$72.03	-15.97%
Excl.Working Capital CF	$149.4	$71.6	$38.8	$64.8	-$3.8	$76.0	$93.5	$131.7	-$8.0	-$49.9	$94.2	$281.5	$85.7	$0.0	$0.0			40.40%	<-IRR #YR->	5	CFPS 5 yr Running	445.57%
CF fr Op $M WC	$110.3	$95.7	$91.7	$74.3	$54.4	$83.1	$90.6	$122.1	$110.8	$140.2	$163.3	$192.5	$155.7	$80.5	$4.5			69.79%	<-Total Growth	10	Cash Flow less WC
Increase	3.84%	-13.19%	-4.23%	-18.92%	-26.79%	52.76%	8.97%	34.76%	-9.25%	26.57%	16.47%	17.85%	-19.11%	-48.32%	-94.43%			5.44%	<-IRR #YR->	10	Cash Flow less WC	69.79%
5 year Running Average	$83.0	$84.7	$94.0	$95.6	$85.3	$79.9	$78.8	$84.9	$92.2	$109.4	$125.4	$145.8	$152.5	$146.4	$119.3			4.98%	<-IRR #YR->	5	Cash Flow less WC	27.52%
CFPS Excl. WC	$6.59	$5.72	$5.46	$3.72	$2.74	$4.15	$4.54	$6.10	$5.53	$6.55	$7.61	$8.88	$7.14	$3.70	$0.21			4.96%	<-IRR #YR->	10	CF less WC 5 Yr Run	62.24%
Increase	3.18%	-13.23%	-4.43%	-31.94%	-26.20%	51.23%	9.36%	34.39%	-9.35%	18.44%	16.13%	16.77%	-19.58%	-48.20%	-94.43%			12.42%	<-IRR #YR->	5	CF less WC 5 Yr Run	79.59%
5 year Running Average	$4.99	$5.08	$5.63	$5.58	$4.85	$4.36	$4.12	$4.25	$4.61	$5.37	$6.06	$6.93	$7.14	$6.78	$5.51			2.71%	<-IRR #YR->	10	CFPS - Less WC	30.71%
P/CF on Med Price	6.94	6.67	6.30	6.37	7.12	5.35	4.79	2.72	2.16	3.61	2.76	2.89	3.89	5.44	0.00			3.20%	<-IRR #YR->	5	CFPS - Less WC	17.08%
P/CF on Closing Price	6.18	6.38	5.63	4.51	8.40	5.94	3.65	2.43	3.09	3.71	2.59	3.41	2.93	6.49	116.49			2.41%	<-IRR #YR->	10	CFPS 5 yr Running	26.95%
*Operational Cash Flow per share			CF/-WC	P/CF Med	10 yr	4.59	5 yr	2.66	P/CF Med	10 yr	3.75	5 yr	2.89		72.99%	Diff M/C		10.93%	<-IRR #YR->	5	CFPS 5 yr Running	68.01%
			-16.8	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	21.8								Shares
								-20.0	0.0	0.0	0.0	0.0	21.8								Shares
			-$52.9	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$70.0								Cash Flow
								$9.7	$0.0	$0.0	$0.0	$0.0	$70.0								Cash Flow
			-$3.15	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.21								Cash Flow per Share
								$0.48	$0.00	$0.00	$0.00	$0.00	$3.21								Cash Flow per Share
			-$2.56	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.43								CFPS 5 yr Running
								-$0.63	$0.00	$0.00	$0.00	$0.00	$3.43								CFPS 5 yr Running
			-$91.7	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$155.7								Cash Flow less WC
								-$122.1	$0.0	$0.0	$0.0	$0.0	$155.7								Cash Flow less WC
			-$94.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$152.5								CF less WC 5 Yr Run
								-$84.9	$0.0	$0.0	$0.0	$0.0	$152.5								CF less WC 5 Yr Run
			-$5.46	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$7.14								CFPS - Less WC
								-$6.10	$0.00	$0.00	$0.00	$0.00	$7.14								CFPS - Less WC
			-$5.63	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$7.14								CFPS 5 yr Running
								-$4.25	$0.00	$0.00	$0.00	$0.00	$7.14								CFPS 5 yr Running
Changes in non-cash operating working capital (note 24)	-$114.3	$17.66	$7.45	-$19.75
Trade & other receivables					-$26.46	-$13.07	$12.555	-$32.093	$31.900	$8.502	-$79.968	$3.699	$7.476
Contracts in Progress					-$2.25	$2.97	-$2.968	$6.989	$2.786	-$6.021	-$20.915	-$7.415	$13.932
Inventories					$29.51	-$36.60	-$33.220	-$36.270	$76.718	-$15.616	-$72.875	-$166.023	-$38.047
Deposits on Inventory					$2.01	$12.53	-$6.571	-$24.068	-$6.684	$37.133	-$1.473	-$0.106	-$4.768
Prepaid expenses					$1.57	$1.06	-$1.962	$1.080	$0.808	-$2.005	-$3.218	-$2.713	-$1.409
Accts Payable & Accured Lib.					$25.94	-$0.76	$3.266	$34.877	-$58.111	$50.349	$115.897	-$29.936	$4.408
Contract Liab.							-$4.630	-$1.061	-$0.282	$12.261	-$0.034	$2.380	$4.445
Provisions					$0.60	$0.20				-$1.117	-$2.39	-$0.451	$1.291
rev. Provisions Item 24	$0.3	$0.52	$1.25	$0.51
Rental equipment additions (note 8)	-$25.1	-$20.01	-$23.10	-$22.95	-$13.54	-$19.31	-$43.638	-$37.531	-$16.489	-$10.133	-$10.898	-$20.936	-$25.402
Rental equipment Disposals										$5.909	$2.550	$3.542
Other non-current liabilities	-$3.8	-$2.61	$1.37	-$0.85	-$0.93	-$0.84	-$1.444	-$1.374	-$0.246	-$0.117	-$2.304	-$0.179	-$2.202
Cash pd on Settlement Total Ret. S								-$1.479	-$1.396	-$0.613	$0.874	$1.396	$1.896
Finance costs paid debt	-$4.1	-$6.87	-$12.31	-$11.43	-$10.30	-$14.78	-$8.422	-$13.051	-$11.207	-$10.618	-$9.165	-$16.155	-$23.045
Finance costs paid lease Liab.
Int. Collected on lease Rec										$0.229	$0.352	$0.630	$1.031
Income taxes paid	-$2.4	-$60.33	-$13.43	-$10.29	-$2.37	-$7.39	-$6.481	-$27.764	-$9.774	-$18.217	-$10.611	-$49.194	-$25.323
Sum	-$149.40	-$71.64	-$38.78	-$64.76	$3.77	-$75.99	-$93.515	-$131.745	$8.023	$49.926	-$94.177	-$281.461	-$85.717
Google --> TD 2017	-$148.89	-$71.64	-$38.81	-$64.76	$3.77	-$76	-$94	-$132	$8	$51	-$94	-$281	-$86
Difference	-$0.51	$0.00	$0.03	$0.00	-$0.01	$0	$0	$0	$0	-$1	$0	$0	$0
TD		-$72	-$39	-$65	$3				$10	$50
Difference		$0	$0	$0	$1
OPM	7.52%	6.70%	6.32%	5.84%	4.45%	6.30%	6.11%	7.86%	7.79%	8.56%	8.32%	8.93%	7.42%	3.74%				17.48%	<-Total Growth	10	OPM
Increase	-2.46%	-10.91%	-5.74%	-7.59%	-23.71%	41.48%	-2.96%	28.56%	-0.93%	9.98%	-2.85%	7.35%	-16.91%	-49.65%					Should increase		or be stable.
Diff from Median	-1.1%	-11.9%	-16.9%	-23.2%	-41.4%	-17.1%	-19.6%	3.4%	2.4%	12.6%	9.4%	17.5%	-2.4%	-50.9%				0.00	<-Median->	10	OPM
*Operational Profit Margin (CF excl. WC/Revenue) Ratio									OPM	10 Yrs	7.60%	5 Yrs	8.32%					should be	zero, it is a		check on calculations
														$98.3	<-12 mths	-7.09%
Adjusted EBIT								$73.5	$64.6	$92.3	$113.9	$138.9	$105.8	$105.3	$111.1	$110.2			<-Total Growth	5	Adjusted EBIT
Change									-12.11%	42.88%	23.40%	21.95%	-23.83%	-0.47%	5.51%	-0.81%		21.95%	<-Median->	5	Change
Margin								4.73%	4.54%	5.64%	5.80%	6.45%	5.04%	4.89%	5.11%	4.93%		5.34%	<-Median->	6	Margin
														$160.5	<-12 mths	-4.46%
Adjusted EBITDA		$95.3	$95.0	$75.3	$64.0	$74.9	$91.2	$130.3	$122.0	$145.6	$165.9	$197.4	$168.0	$166.8	$171.8	$174.2		76.84%	<-Total Growth	10	Adjusted EBITDA
Change			-0.31%	-20.74%	-15.01%	17.03%	21.76%	42.87%	-6.37%	19.34%	13.94%	18.99%	-14.89%	-0.71%	3.00%	1.40%		15.49%	<-Median->	10	Change
Margin		6.67%	6.55%	5.91%	5.24%	5.68%	6.16%	8.39%	8.58%	8.89%	8.45%	9.16%	8.01%	7.75%	7.90%	7.80%		8.20%	<-Median->	10	Margin
Long Term Debt		$195.91	$180.90	$151.58	$121.95	$143.67	$218.12	$225.57	$171.58	$153.44	$139.36	$324.10	$283.04	$275.34				56.46%	<-Total Growth	10	Debt	Type
Change			-7.66%	-16.21%	-19.55%	17.81%	51.82%	3.42%	-23.94%	-10.57%	-9.17%	132.55%	-12.67%	-2.72%				-9.87%	<-Median->	10	Change	Lg Term R
Debt/Market Cap Ratio		0.32	0.35	0.45	0.27	0.29	0.66	0.76	0.50	0.30	0.33	0.49	0.62	0.53				0.47	<-Median->	10	% of Market C.	Intang/GW
Assets/Current Liabilities Ratio		3.14	2.68	3.09	2.67	2.80	2.87	3.23	3.52	2.94	2.43	3.05	2.63	3.18				2.90	<-Median->	10	Assets/Current Liabilities	Liquidity
Debt to Cash Flow (Years)		8.13	3.42	15.83	2.10	20.11	0.00	0.00	1.44	0.81	2.02	0.00	4.05	3.42				1.73	<-Median->	10	Debt to Cash Flow (Years)	Liq. + CF
																						Debt Ratio
Intangibles	$15.52	$13.80	$12.17	$5.37	$4.81	$4.61	$26.02	$28.84	$34.61	$72.53	$67.38	$74.34	$67.58					455.44%	<-Total Growth	10	Intangibles	Leverage
Goodwill	$72.15	$72.15	$72.15	$36.40	$36.40	$36.40	$47.66	$50.74	$56.11	$98.85	$103.33	$115.94	$115.95					60.70%	<-Total Growth	10	Goodwill	D/E Ratio
Total	$87.67	$85.94	$84.31	$41.77	$41.21	$41.01	$73.69	$79.57	$90.73	$171.38	$170.71	$190.28	$183.52	$181.28				117.66%	<-Total Growth	10	Total
Change	3.76%	-1.97%	-1.90%	-50.46%	-1.35%	-0.49%	79.70%	7.99%	14.02%	88.89%	-0.39%	11.46%	-3.55%	-1.22%				3.80%	<-Median->	10	Change
Intangible/Market Cap Ratio	0.13	0.14	0.16	0.12	0.09	0.08	0.22	0.27	0.26	0.33	0.40	0.29	0.40	0.35				0.27	<-Median->	10	% of Market C.
Current Assets	$486.84	$487.93	$525.87	$522.15	$515.41	$545.46	$624.83	$727.51	$653.77	$681.36	$860.12	$1,043.61	$1,090.68	$978.19				107.41%	<-Total Growth	10	Current Assets
Current Liabilities	$256.75	$215.54	$267.72	$219.44	$249.50	$246.95	$290.13	$323.44	$278.87	$367.89	$514.08	$483.38	$588.25	$447.49				119.73%	<-Total Growth	10	Current Liabilities
Liquidity	1.90	2.26	1.96	2.38	2.07	2.21	2.15	2.25	2.34	1.85	1.67	2.16	1.85	2.19				2.16	<-Median->	10	Ratio
Liq. with CF aft div	1.58	2.16	2.01	2.32	2.22	2.16	2.02	2.12	2.70	2.31	1.77	2.05	1.92	2.30				2.05	<-Median->	5	Ratio
Liq. CF re  Inv+Div	1.50	2.12	1.97	2.27	2.14	2.14	1.69	2.11	2.54	1.97	1.72	1.95	1.92	2.30				1.95	<-Median->	5	Ratio
Assets	$671.86	$676.95	$718.24	$677.47	$664.95	$692.56	$831.25	$1,045.09	$981.39	$1,080.85	$1,249.88	$1,473.32	$1,547.62	$1,425.11				115.47%	<-Total Growth	10	Assets
Liabilities	$429.98	$429.76	$469.73	$388.96	$388.13	$408.87	$534.28	$728.28	$655.74	$690.93	$800.11	$977.08	$1,035.34	$903.13				120.41%	<-Total Growth	10	Liabilities
Debt Ratio	1.56	1.58	1.53	1.74	1.71	1.69	1.56	1.44	1.50	1.56	1.56	1.51	1.49	1.58				1.56	<-Median->	10	Ratio
Book Value	$241.89	$247.19	$248.52	$288.50	$276.82	$283.69	$296.97	$316.82	$325.65	$389.91	$449.77	$496.24	$512.28	$521.98	$521.98	$521.98		106.14%	<-Total Growth	10	Book Value
Book Value per share	$14.45	$14.76	$14.81	$14.44	$13.96	$14.17	$14.88	$15.83	$16.26	$18.21	$20.95	$22.90	$23.50	$24.00	$24.00	$24.00		58.69%	<-Total Growth	10	Book Value per Share
Change	5.60%	2.15%	0.32%	-2.54%	-3.28%	1.45%	5.05%	6.39%	2.68%	12.04%	15.02%	9.32%	2.64%	2.13%	0.00%	0.00%		-22.99%	P/B Ratio		Current/Historical Median
P/B Ratio (Median)	3.17	2.58	2.32	1.64	1.40	1.57	1.46	1.05	0.73	1.30	1.00	1.12	1.18	0.84				1.30	P/B Ratio		Historical Median
P/B Ratio (Close)	2.82	2.47	2.08	1.16	1.65	1.74	1.11	0.93	1.05	1.33	0.94	1.32	0.89	1.00	1.00	1.00		4.73%	<-IRR #YR->	10	Book Value	58.69%
Change	0.05%	-12.34%	-15.92%	-44.01%	41.99%	5.45%	-36.02%	-16.10%	12.46%	26.75%	-29.32%	40.34%	-32.53%	12.12%	0.00%	0.00%		8.22%	<-IRR #YR->	5	Book Value	48.46%
Leverage (A/BK)	2.78	2.74	2.89	2.35	2.40	2.44	2.80	3.30	3.01	2.77	2.78	2.97	3.02	2.73				2.79	<-Median->	10	A/BV
Debt/Equity Ratio	1.78	1.74	1.89	1.35	1.40	1.44	1.80	2.30	2.01	1.77	1.78	1.97	2.02	1.73				1.79	<-Median->	10	Debt/Eq Ratio
Sharerholders Equity (Assets less liabilities)									P/BV	10 yr Med	1.24	5 yr Med	1.12		-19.37%	Diff M/C		2.64	Historical		A/BV
			-$14.81	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$23.50
								-$15.83	$0.00	$0.00	$0.00	$0.00	$23.50
														$33.70	<-12 mths	-26.06%
Comprehensive Income	$65.35	$49.40	$40.71	-$10.05	$9.48	$30.64	$34.62	$38.73	$27.41	$58.91	$80.11	$76.13	$45.57					11.94%	<-Total Growth	10	Comprehensive Income
Increase	3.92%	-24.41%	-17.59%	-124.67%	194.33%	223.32%	13.00%	11.89%	-29.23%	114.89%	36.01%	-4.97%	-40.14%					-4.97%	<-Median->	5	Comprehensive Income
5 Yr Running Average	$58.33	$53.47	$54.76	$41.66	$30.98	$24.04	$21.08	$20.68	$28.17	$38.06	$47.96	$56.26	$57.63					1.13%	<-IRR #YR->	10	Comprehensive Income	11.94%
ROE	27.0%	20.0%	16.4%	-3.5%	3.4%	10.8%	11.7%	12.2%	8.4%	15.1%	17.8%	15.3%	8.9%					3.31%	<-IRR #YR->	5	Comprehensive Income	17.65%
5Yr Median	27.6%	27.0%	27.0%	20.0%	16.4%	10.8%	10.8%	10.8%	10.8%	11.7%	12.2%	15.1%	15.1%					0.51%	<-IRR #YR->	10	5 Yr Running Average	5.23%
% Difference from NI	-0.9%	3.2%	-1.3%	-8.8%	-13.9%	-0.9%	-3.4%	-2.0%	-13.4%	10.6%	10.6%	-6.0%	6.5%					22.74%	<-IRR #YR->	5	5 Yr Running Average	178.62%
Median Values										Diff	5, 10 yr	-2.7%	6.5%					15.1%	<-Median->	5	Return on Equity
			-$40.7	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$45.6
								-$38.7	$0.0	$0.0	$0.0	$0.0	$45.6
			-$54.8	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$57.6
								-$20.7	$0.0	$0.0	$0.0	$0.0	$57.6
Current Liability Coverage Ratio	0.43	0.44	0.34	0.34	0.22	0.34	0.31	0.38	0.40	0.38	0.32	0.40	0.26	0.18							CFO / Current Liabilities
5 year Median	0.40	0.40	0.40	0.40	0.34	0.34	0.34	0.34	0.34	0.38	0.38	0.38	0.38	0.32				0.38	<-Median->	5	Current Liability Cov Ratio
Asset Efficiency Ratio	16.42%	14.14%	12.77%	10.97%	8.18%	12.00%	10.90%	11.68%	11.29%	12.97%	13.07%	13.06%	10.06%	5.65%							CFO / Total Assets
5 year Median	16.42%	14.14%	14.14%	14.14%	12.77%	12.00%	10.97%	10.97%	11.29%	11.68%	11.68%	12.97%	12.97%	12.97%				13.0%	<-Median->	5	Return on Assets
Return on Assets ROA	9.81%	7.07%	5.74%	-1.63%	1.65%	4.46%	4.31%	3.78%	3.23%	4.93%	5.79%	5.50%	2.77%	3.99%				Net	Income/Assets		Return on Assets
5Yr Median	10.68%	9.81%	9.81%	7.07%	5.74%	4.46%	4.31%	3.78%	3.78%	4.31%	4.31%	4.93%	4.93%	4.93%				4.0%	<-Median->	10	Asset Efficiency Ratio
Return on Equity ROE	27.26%	19.36%	16.59%	-3.82%	3.97%	10.89%	12.07%	12.47%	9.72%	13.66%	16.10%	16.32%	8.35%	10.90%				Net Inc/	Shareholders' equity		Return on Equity
5Yr Median	27.42%	27.26%	27.26%	19.36%	16.59%	10.89%	10.89%	10.89%	10.89%	12.07%	12.47%	13.66%	13.66%	13.66%				11.5%	<-Median->	10	Return on Equity
														$36.04	<-12 mths	-15.79%
Net Income	$65.94	$47.87	$41.23	-$11.02	$11.00	$30.90	$35.85	$39.50	$31.65	$53.25	$72.41	$80.99	$42.79	$56.9	$67.1			3.78%	<-Total Growth	10	Net Income	Calc
Increase	3.35%	-27.41%	-13.86%	-126.71%	-199.85%	180.93%	16.03%	10.19%	-19.87%	68.22%	35.98%	11.85%	-47.16%	32.97%	17.93%			EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average	$59.0	$53.4	$54.8	$41.6	$31.0	$24.0	$21.6	$21.2	$29.8	$38.2	$46.5	$55.6	$56.2	$61.3	$64.0			0.37%	<-IRR #YR->	10	Net Income	3.78%
Operating Cash Flow	-$39.11	$24.09	$52.91	$9.57	$58.18	$7.14	-$2.93	-$9.67	$118.81	$190.15	$69.13	-$89.01	$69.96					1.61%	<-IRR #YR->	5	Net Income	8.33%
Investment Cash Flow	-$16.03	-$4.00	-$5.43	-$4.27	-$8.87	-$1.85	-$58.90	-$1.97	-$17.64	-$62.58	-$14.35	-$24.63	$0.16					0.26%	<-IRR #YR->	10	5 Yr Running Ave.	2.64%
Total Accruals	$121.07	$27.77	-$6.25	-$16.32	-$38.32	$25.60	$97.68	$51.14	-$69.51	-$74.31	$17.62	$194.62	-$27.32					21.48%	<-IRR #YR->	5	5 Yr Running Ave.	164.58%
Total Assets	$671.86	$676.95	$718.24	$677.47	$664.95	$692.56	$831.25	$1,045.09	$981.39	$1,080.85	$1,249.88	$1,473.32	$1,547.62						Balance Sheet		Assets
Accruals Ratio	18.02%	4.10%	-0.87%	-2.41%	-5.76%	3.70%	11.75%	4.89%	-7.08%	-6.88%	1.41%	13.21%	-1.77%					-1.77%	<-Median->	5	Ratio
EPS/CF Ratio	0.59	0.49	0.44	-0.16	0.20	0.37	0.39	0.32	0.29	0.37	0.43	0.41	0.27					0.34	<-Median->	10	EPS/CF Ratio
			-$41.2	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$42.8
								-$39.5	$0.0	$0.0	$0.0	$0.0	$42.8
			-$54.8	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$56.2
								-$21.2	$0.0	$0.0	$0.0	$0.0	$56.2
Change in Close	5.65%	-10.46%	-15.65%	-45.43%	37.34%	6.98%	-32.79%	-10.74%	15.47%	42.01%	-18.71%	53.42%	-30.76%	14.50%	0.00%	0.00%			Count	37	Years of data
up/down		down				up		down		up	up		down						Count	17	45.95%
Meet Prediction?		yes				Yes		Yes		Yes			Yes					% right	Count	11	64.71%
Financial Cash Flow	$39.28	-$5.75	-$59.35	$16.03	-$58.08	-$11.88	$59.62	$18.75	-$97.72	-$124.20	-$70.00	$117.47	-$61.36						C F Statement		Financial CF
Total Accruals	$81.79	$33.52	$53.10	-$32.34	$19.76	$37.48	$38.06	$32.39	$28.21	$49.89	$87.63	$77.16	$34.05								Accruals
Accruals Ratio	12.17%	4.95%	7.39%	-4.77%	2.97%	5.41%	4.58%	3.10%	2.87%	4.62%	7.01%	5.24%	2.20%					4.62%	<-Median->	5	Ratio
Cash	-$10.20	$4.15	-$7.71	$13.61	$4.85	-$1.72	-$3.93	$3.18	$6.63	$9.99	-$5.23	-$1.40	$8.75	-$8.16							Cash
Cash per Share	-$0.61	$0.25	-$0.46	$0.68	$0.24	-$0.09	-$0.20	$0.16	$0.33	$0.47	-$0.24	-$0.06	$0.40	-$0.38				$0.33	<-Median->	5	Cash per Share
Percentage of Stock Price	-1.50%	0.68%	-1.49%	4.06%	1.06%	-0.35%	-1.19%	1.07%	1.94%	1.92%	-1.23%	-0.21%	1.91%	-1.56%				1.91%	<-Median->	5	% of Stock Price
Notes:
September 14, 2025.  Last estimates were for 2024, 2025, 2026 of $2165M, $2269M, $2329M Revenue, $3.31, $3.64, $3.53 for AEPS, $3.69, $3.88, $3.43 EPS,
$1.40, $1.44 2024/5 $51.2M, $83.9M, $60.8M FCF,  $4.62, $5.43 2024/5 CFPS, $194.5M, $201.8M, $198.3M for EBITDA, $890.1M, $84.2M and $74.4M Net Income.
September 7, 2024.  Last estimates were for 2023, 2024, 2025 of $2208M, $2286M, $2257M Revenue, $3.78, $3.75, $3.22 AEPS,
$3.78, $3.75, $3.22 EPS, -$37.1M, $56.6M, $60.3M, $81.2M, $80.5M, $69.1M.
September 9, 2023.  Last estimates were for 2022, 2023 and 2024 of $1854M, $1871M and $1903M for Revenue, $2.93, $2.79 and $2.44 for AEPS,
$3.10, $2.95 and $2.58 for EPS, -$8.10M, $15.9M and $26.7M for FCF, $63.3M, $60.3M and $52.8M for Net Income.
September 10, 2022.  Last estimates were for 2021, 2022 and 2023 of $1670M, $1739M and $1695M for Revenue, $2.44, $2.46 and $2.20 for EPS,
$1.00 and $1.00 for 2022-23 for Dividends, $61M, -$13M and $17.3M for FCF.
September 4, 2021.  Last estimates were for 2020, 2021 and 2022 of $1394M, $1473M and $1452M for Revenue, $.61 and $1.42 for EPS, $48M, $9M and $17M for FCF.
September 13, 2020.  Last estimates were for 2019, 2020 and 2021 of $1600, $1674 and $1683 for Revenue, $2.16. $2.36 and $2.21 for EPS, and $3.29 and $4.46 for CFPS for 2019 and 2020.
September 13, 2019.  Last estimates were for 2018, 2019 and 2020 of $1463M, $1544M and $1567M for Revenue, $2.31, $2.46 and $2.66 for EPS.
September 19, 2018.  Last estimates were for 2017 and 2018 of $1252M and $1318M for Revenue, $1.41 and $1.67 for EPS, $2.60 for CFPS for 2018 and $29.9M for Net Income for 2018.
September 19, 2017.  Last estimaes were for 2016, 2017 and 2018 of $1246M, $1262M and $1325M for Revenue, $0.74, $1.31 and $1.55 for EPS,
$1.86 and $2.60 for CFPS for 2016 and 2017 and $12.2M, $29.9M for Net Income for 2016 and 2017.
September 19, 2016.  Last estimates were for 2015, 2016 and 2017 of $1351M, $1391M and $1514M for Revenue, $1.42, $1.00 and $1.00 for EPS,
$1.36 and $2.50 for CFPS for 2015 and 2016 and $36.9M, $45.0M for Net Income for 2015 and 2016.
September 26, 2015.  Last estimates wee for 2014, 2015 and 2016 of $1462M, $1521M, and $1568M for Revenue, $2.59, $3.21 for 2014 and 2015 for EPS,
$3.28 and $3.56 for CFPS for 2014 and 2015 and $43.2M and $55.4M for Net Income for 2014 and 2015.
Sep 16, 2014.  Last estimates were for 2013 and 2014 of $1407M and $1455M for Revenue, 2013-2015 for EPS of $2.75, 2.40 and $2.40, $4.18 and $4.23 for CFPS.
July 27, 2013.  Last estimates I got were for 2010 and 2011 of $1348M and $1432M for Revenue, $3.70 and $3.72 for EPS and $3.22 and $2.93 for Cash Flow.
January 1, 2011 company was converted to a corporation.  The company was Wajax Income Fund of WJX.UN
2008.  TD said there was a 1:1.0211 split in 2008, but I find nothing to support this.
2005.  Was changed for a income fund in 2005, called Wajax Income Fund.
I got financials 2001 to 2010 from Wajax web site.  I got Financials for 2000 to 1999 from G&M.
Dividends, end of year with record date of December 30 and payment on January 20 of following year.  I included in Jan 20 dividend payments as first of a year.
Dividends were started in 2004 and the company then switched to an Income trust called Wajax Income Fund (TSX-WJX.UN) with a large increase in dividends.  In 2009 they started to reduce
dividends, but did not complete the conversion to a corporation until January 1, 2011.   January 1, 2011 was the last date to change to a corporation and to be taxed as a corporation.
Canadian law on Income Trusts was change on Nov 1, 2006
In June 2005, company was changed into an Income Trust.
Was Wajax Limited in 2004
Sector:
Services, Industrial
What should this stock accomplish?
Would I buy this company and Why.
This is a company I would consider if I was looking for an Indusial stock.  This sector has its ups and downs.  They have paid good dividends when they could.  I am sure dividends will grow as they can.
However, industrial company can seldom raise their dividends consistently.  The company has good debt ratios and this is a plus for companies in volatile sectors.
Why am I following this stock.
TD Waterhouse put out a report on good dividend paying stocks to own in November 2011.  This was a stock they named.  I had not heard of it before, so I decided to investigate it.
Dividends
Dividends are paid quarterly starting in 2015.  They will be in cycle 1, that is January, April, July and October.
Dividends were paid monthly as this company used to be an Income Trust.  They are declared for shareholders of record in one month and paid in the following month.
For example, the dividend declared for shareholders of record on September 15, 2015 was paid on October 2, 2015.
How they make their money.
Wajax Corp operates an integrated distribution system, providing sales, parts and services to a broad range of customers in diversified sectors of the Canadian economy,
including: construction, forestry, mining, industrial and commercial, oil sands, transportation, metal processing, government and utilities, and oil and gas.
For most ratios, lower is better when looking for a good stock price.  However, there are exceptions such as for yield (dividends and erarnings) and asset/liability ratios and here you want a higher ratios to indicate a good stock price.
Also, for the Operational Profit Margin, a higher percentage is better.  With the OPM, you should only compare companies in similar industries.
following is technical analysis dated Oct 20, 2011.
http://www.theglobeandmail.com/globe-investor/investment-ideas/features/schizas-mailbag/wajax-wait-for-a-better-entry-point/article2207581/
http://www.tdwaterhouse.ca/webbroker/pdf/dividend_investing.pdf
WAJAX WJX-T This and following from TD Report on dividend investing
INTACT FINANCIAL IFC-T
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	Sep 19	2018	Sep 13	2019	Sep 13	2020	Sep 5	2021	Sep 10	2022	Sep 9	2023	Sep 7	2024			Sep 14	2025
Domagalski, Ignacy										0.136	0.63%	0.136	0.63%	0.136	0.63%			0.162	0.75%			19.05%
CEO - Shares - Amount											$2.680		$4.111		$2.856				$3.894
Options - percentage										0.046	0.22%	0.088	0.41%	0.309	1.42%			0.141	0.65%			-54.45%
Options - amount											$0.912		$2.664		$6.472				$3.375
Foote, Alan Mark	0.31%	0.062	0.31%	0.080	0.40%	0.101	0.51%	0.107	0.50%												Ceased insider Dec 2021	#DIV/0!
CEO - Shares - Amount	$1.530		$1.028		$1.180		$1.733		$2.604
Options - percentage	0.86%	0.207	1.04%	0.201	1.00%	0.250	1.25%	0.302	1.41%													#DIV/0!
Options - amount	$4.260		$3.439		$2.973		$4.278		$7.340
Casadinho, Tania																		0.008	0.04%			#DIV/0!
CFO - Shares - Amount																			$0.191
Options - percentage																		0.032	0.15%			#DIV/0!
Options - amount																			$0.767
Auld, Stuart Harrison	0.00%	0.000	0.00%	0.002	0.01%	0.004	0.02%	0.006	0.03%	0.012	0.06%	0.017	0.08%	0.013	0.06%			0.023	0.11%		was officer, CFO fron 2019	73.81%
CFO - Shares - Amount	$0.000		$0.000		$0.026		$0.075		$0.141		$0.235		$0.523		$0.276				$0.549		Last report July 2025
Options - percentage	0.17%	0.046	0.23%	0.050	0.25%	0.069	0.35%	0.087	0.40%	0.096	0.45%	0.086	0.40%	0.083	0.38%			0.085	0.39%			2.89%
Options - amount	$0.857		$0.764		$0.738		$1.183		$2.100		$1.886		$2.613		$1.735				$2.044
Dube, Andre	0.00%	0.000	0.00%									0.002	0.01%	0.002	0.01%			0.003	0.01%			12.78%
Officer - Shares - Amount	$0.000		$0.000										$0.055		$0.051				$0.066
Options - percentage	0.13%	0.041	0.21%									0.022	0.10%	0.023	0.11%			0.039	0.18%			69.63%
Options - amount	$0.629		$0.684										$0.652		$0.486				$0.943
Tam, Andrew W. H.														0.010	0.04%			0.011	0.05%			17.14%
Officer - Shares - Amount															$0.199				$0.267
Options - percentage														0.025	0.11%			0.042	0.19%			71.44%
Options - amount															$0.517				$1.016
Deck, Steven				0.008	0.04%	0.011	0.05%	0.013	0.06%	0.016	0.07%	0.025	0.12%								last filing July 5, 2022	#DIV/0!
Officer - Shares - Amount					$0.118		$0.187		$0.305		$0.309		$0.770								Ceased insider Jan 2024
Options - percentage				0.080	0.40%	0.109	0.54%	0.114	0.53%	0.124	0.58%	0.113	0.52%									#DIV/0!
Options - amount					$1.177		$1.861		$2.770		$2.437		$3.431
Alford, Thomas M.								0.020	0.09%	0.020	0.09%	0.020	0.09%	0.020	0.09%			0.020	0.09%			0.00%
Director - Shares - Amount									$0.481		$0.391		$0.599		$0.415				$0.475
Options - percentage								0.056	0.26%	0.065	0.30%	0.076	0.35%	0.009	0.04%			0.010	0.05%			11.18%
Options - amount									$1.370		$1.287		$2.308		$0.189				$0.240
Craighead, A Jane														0.007	0.03%			0.007	0.03%			0.00%
Director - Shares - Amount															$0.153				$0.175
Options - percentage														0.019	0.09%			0.029	0.13%			55.48%
Options - amount															$0.393				$0.699
Barrett, Edward Malcolm	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%	0.022	0.10%			0.022	0.10%		Chairman in 2022	0.00%
Chairman - Shares - Amount	$0.003		$0.002		$0.002		$0.002		$0.003		$0.003		$0.004		$0.461				$0.528		Director before
Options - percentage	0.18%	0.039	0.20%	0.044	0.22%	0.054	0.27%	0.060	0.28%	0.066	0.31%	0.075	0.35%	0.083	0.38%			0.095	0.44%		Says Market Screener	13.74%
Options - amount	$0.885		$0.654		$0.657		$0.925		$1.455		$1.304		$2.285		$1.748				$2.276
Dexter, Robert P.	1.40%	0.280	1.40%	0.300	1.50%	0.330	1.65%	0.330	1.54%												From 2017 meeting
Chairman - Shares - Amt	$6.898		$4.636		$4.434		$5.633		$7.999												Ceased insider May 2022
Options - percentage	0.43%	0.094	0.47%	0.106	0.53%	0.130	0.65%	0.144	0.67%
Options - amount	$2.105		$1.561		$1.571		$2.222		$3.501
Increase in O/S Shares	0.20%	0.322	1.61%	0.150	0.75%	0.020	0.10%	0.022	0.11%	0.007	0.03%	0.024	0.11%	0.074	0.34%			0.098	0.45%
due to SO	$0.681		$7.937		$2.493		$0.290		$0.376		$0.160		$0.472		$2.244				$2.060
Book Value	$0.743		$2.901		$1.380		$0.176		$0.199		$0.067		$0.200		$0.700				$1.189
Insider Buying	$0.000		$0.000		-$0.793		-$0.386		$0.000		-$0.095		-$0.038		-$1.062				-$0.475
Insider Selling	$0.000		$0.000		$0.000		$0.000		$0.661		$0.083		$0.000		$0.000				$0.063
Net Insider Selling	$0.000		$0.000		-$0.793		-$0.386		$0.661		-$0.013		-$0.038		-$1.062				-$0.413		Yes 0 2017, 2018
% of Market Cap	0.00%		0.00%		-0.27%		-0.11%		0.13%		0.00%		-0.01%		-0.23%				-0.08%
Directors		8		9		10		10		10		11		9				9
Women	11%	1	13%	2	22%	2	20%	3	30%	4	40%	5	45%	4	44%			4	44%
Minorities	0%	0	0%	0	0%	0	0%	1	10%	1	10%	1	9%	1	11%			1	11%
Institutions/Holdings	35.64%	52	20.79%	20		20	16.26%	20	17.00%	20	13.46%	20	12.49%	20	20.40%			20	14.98%
Total Shares Held	35.79%	4.173	20.91%	4.114	20.62%	3.257	16.26%	3.661	17.10%	2.881	13.42%	2.685	12.39%	4.434	20.35%			3.258	14.98%
Increase/Decrease 3 Mths	1.78%	-0.342	-7.57%	-0.521	-11.24%	-0.279	-7.89%	-0.069	-1.85%	0.269	10.30%	0.013	0.49%	0.468	11.79%			-0.159	-4.65%
Starting No. of Shares		4.515		4.636	Top 20	3.536	Top 20 MS	3.730	Top 20 MS	2.612	Top 20 MS	2.672	Top 20 MS	3.967	Top 20 MS			3.417	Top 20 MS
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