This report is for educational purposes only, and not to provide investment advice.  Before making any investment decision, you should always do your own research or consult a investment professional.
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet.
See my website on stocks or see my blog at the following sites.  www.spbrunner.com/stocks.html www.spbrunner.blogspot.com/
Alimentation Couche-Tard Inc.  ATD.B-T www.couche-tard.com/corporatif/home.html Fiscal Yr: Apr 30
Year 4/30/00 4/29/01 4/28/02 4/27/03 4/25/04 4/24/05 4/30/06 4/29/07 4/27/08 4/26/09 4/25/10 4/24/11 4/30/12 4/29/13 #Y
$ Reporting in  <--CDN$ US$ -->
Accting Rules C GAAP IFRS IFRS
US$-CND$ 1.4818 1.536 1.5681 1.4336 1.3612 1.2342 1.1203 1.1068 1.0092 1.18915 1.00481 0.9541 0.98192 0.981915 US$-CND$
Revenue US$   $1,062 $1,090 $2,114 $1,669 $4,314 $8,277 $10,157 $12,087 $15,370 $15,781 $16,440 $18,966 $22,207 $22,610 1640.62% <-Total Growth 10 Revenue US$
Increase 68.85% 2.58% 94.03% -21.08% 158.56% 91.86% 22.71% 19.00% 27.16% 2.67% 4.17% 15.37% 17.09% 1.81% Revenue US$
Revenue CDN$* $1,574 $1,674 $3,315 $2,392 $5,872 $10,216 $11,379 $13,378 $15,511 $18,766 $16,519 $18,095 $21,805 $22,201 981.20% <-Total Growth 10 Revenue CDN$
Increase 71.63% 6.33% 98.08% -27.85% 145.50% 73.96% 11.39% 17.57% 15.94% 20.98% -11.98% 9.54% 20.50% 1.81% 26.88% <-IRR #YR-> 10 Revenue CDN$
Rev per Share $10.58 $11.24 $20.00 $14.14 $29.72 $50.08 $56.32 $66.12 $78.85 $100.02 $89.95 $98.56 $118.77 $120.93 9.72% <-IRR #YR-> 5 Revenue CDN$
P/S (Price/Sales) 0.22 0.28 0.33 0.47 0.39 0.34 0.45 0.36 0.18 0.13 0.20 0.26 0.24 0.24 24.25% <-IRR #YR-> 10 Rev per share CDN$
*Revenue in M CDN $  P/S 10 yr  0.33 5 yr  0.20 11.84% <-IRR #YR-> 5 Rev per share CDN$
-$1,674 $0 $0 $0 $0 $0 $0 $0 $0 $0 $18,095
-$11,379 $0 $0 $0 $0 $18,095
-$11.24 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $98.56
-$56.32 $0.00 $0.00 $0.00 $0.00 $98.56
EPS US$ $0.08 $0.10 $0.19 $0.27 $0.31 $0.79 $0.94 $0.94 $0.92 $1.29 $1.60 $1.97 $2.17 $2.40 1836.59% <-Total Growth 10 Earnings US$
Increase 35.7% #REF! 135.8% 160.6% 61.9% 196.5% 201.1% 19.6% -2.1% 37.2% 73.9% 52.7% 35.6% 21.8% Earnings US$
EPS* 0.12 0.16 0.30 0.38 0.43 0.97 1.05 1.04 0.93 1.53 1.61 1.88 2.13 2.36 1102.93% <-Total Growth 10 Earnings CDN$
Increase 22.8% 28.9% 93.6% 25.6% 11.8% 128.2% 8.6% -1.2% -11.8% 47.4% 73.2% 22.5% 32.5% 25.4% 28.24% <-IRR #YR-> 10 Earnings CDN$
Earnings Yield 4.6% 5.7% 3.7% 5.7% 4.1% 4.4% 6.7% 11.8% 8.9% 7.3% 7.4% 8.2% 12.28% <-IRR #YR-> 5 Earnings CDN$
* ESP per share (Cdn GAAP) E/P 10 Yrs 5.71% 5Yrs 7.34%
-$0.16 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.88
-$1.05 $0.00 $0.00 $0.00 $0.00 $1.88
Div* $0.10 $0.110 $0.130 $0.140 $0.145 $0.17 $0.24 $0.25 21.43% <-Total Growth 6 Dividends CDN$
Increase 10.00% 18.18% 7.69% 3.57% 17.24% 39.71% 5.26% 10.00% <-Median-> 5 Dividends CDN$
Yield H/L 0.46% 0.44% 0.70% 1.06% 0.84% 0.75% 0.73% <-Median-> 6 Dividends CDN$
Yield on High 0.37% 0.39% 0.54% 0.88% 0.66% 0.62% 0.58% <-Median-> 6 Dividends CDN$
Yield on Low 0.62% 0.49% 0.97% 1.36% 1.14% 0.95% 0.96% <-Median-> 6 Dividends CDN$
Yield on Cl 0.39% 0.46% 0.93% 1.07% 0.80% 0.66% 0.82% 0.87% 0.73% <-Median-> 6 Dividends CDN$
Payout Ratio 9.5% 10.6% 14.0% 9.1% 9.0% 9.0% 11.1% 10.6% 9.31% <-Median-> 6 Dividends CDN$
Payout Ratio CF 4.5% 5.0% 7.0% 4.4% 5.4% 5.3% 6.6% 6.9% 5.14% <-Median-> 6 Dividends CDN$
Average 5 Yrs Div Yd Div Yd 1.46% in 5 yrs 2.46% in 10 yrs Yield  0.75% 0.80% Payout 9.13% 5.29% #NUM! <-IRR #YR-> 10 Dividends CDN$
* Dividends per share CDN$ 11.00% 5 11.00% 10 Last Div Inc ---> $0.05 $0.06 25.0% 11.20% <-IRR #YR-> 4 Dividends CDN$
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.17
-$0.10 $0.00 $0.00 $0.00 $0.00 $0.17
I am earning Pension $14.95 2004 1.59% Dividends CDN$
H/LYield held 5 yrs 3.68% 1.84% 1.82% 1.34% 0.92% 0.78% 0.94% 1.34% 1.58% <-Median-> 6 Dividends CDN$
H/LYield held 10 yrs 16.88% 12.22% 7.28% 6.47% 5.69% 6.25% 3.98% 3.49% 6.88% <-Median-> 6 Dividends CDN$
H/LYield held 15 yrs 67.88% 40.00% 28.69% #REF! #REF! 40.00% <-Median-> 3 Dividends CDN$
Graham price $1.94 $2.36 $4.52 $5.27 $5.72 $9.93 $11.45 $12.31 $11.85 $17.44 $18.15 $20.87 GP using net inc/# of shares
Graham price $1.93 $2.32 $3.93 $4.74 $5.88 $9.89 $11.27 $12.11 $11.59 $17.03 $17.87 $20.63 $21.96 $23.10 GP using Diluted Earnings Graham Price CDN$
Prem /Disc.Med H/L 31.81% 17.11% 51.61% 50.88% 77.42% 58.57% 92.43% 108.04% 60.90% -22.73% -3.27% 9.37% 55.09% <-Median-> 10 Graham Price CDN$
Prem/Disc High 44.1% 40.0% 116.0% 77.9% 146.5% 97.1% 141.5% 131.2% 105.8% -6.1% 22.3% 32.3% 101.49% <-Median-> 10 Graham Price CDN$
Prem/Disc Low 19.5% -5.8% -12.8% 23.9% 8.4% 20.0% 43.3% 84.9% 16.0% -39.4% -28.8% -13.6% 12.16% <-Median-> 10 Graham Price CDN$
Prem/Disc Cl 22.8% 35.1% 66.5% 41.0% 97.6% 70.6% 127.3% 95.7% 20.4% -23.4% 1.4% 24.1% 31.6% 25.1% 53.75% <-Median-> 10 Graham Price CDN$
Pre-split '05 $4.75 $6.28 $16.93 $13.38 $23.25
Price Cl CDN$ $2.38 $3.14 $6.55 $6.69 $11.63 $16.87 $25.61 $23.70 $13.96 $13.05 $18.13 $25.59 $28.90 $28.90 715.62% <-Total Growth 10 Stock Price CDN$
Increase -3.30% 32.11% 108.76% 2.14% 73.77% 45.12% 51.81% -7.46% -41.10% -6.52% 38.93% 41.15% 12.93% 0.00% 23.35% <-IRR #YR-> 10 Stock Price CDN$
P/E 19.59 20.08 21.65 17.61 27.35 17.39 24.32 22.78 15.04 8.51 11.28 13.61 13.56 12.26 -0.02% <-IRR #YR-> 5 Stock Price CDN$
Trailing P/E 24.05 25.88 41.92 22.12 30.59 39.69 26.40 22.51 13.42 14.06 11.82 15.92 15.38 13.56 24.00% <-IRR #YR-> 10 Price & Div CDN$
Median 5 Yrs 0.54% 0.64% Div %  5, 10 yrs Price Inc -6.52% P/E: Y-T 13.61 14.06 0.53% <-IRR #YR-> 5 Price & Div CDN$
-$3.14 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $25.59
-$25.61 $0.00 $0.00 $0.00 $0.00 $25.59
-$3.14 $0.00 $0.00 $0.00 $0.00 $0.10 $0.11 $0.13 $0.14 $0.15 $25.76
-$25.61 $0.11 $0.13 $0.14 $0.15 $25.76
Price Ave H/L CDN$ $2.55 $2.72 $5.97 $7.16 $10.44 $15.69 $21.68 $25.20 $18.65 $13.16 $17.29 $22.56 729.79% <-Total Growth 10 Stock Price CDN$
Increase 17.92% 6.62% 119.43% 19.96% 45.85% 50.28% 38.22% 16.21% -25.98% -29.44% 31.38% 30.48% 23.57% <-IRR #YR-> 10 Stock Price CDN$
P/E 21.03 17.40 19.72 18.83 24.56 16.17 20.59 24.22 20.09 8.58 10.75 12.00 0.80% <-IRR #YR-> 5 Stock Price CDN$
Trailing P/E 25.82 22.42 38.18 23.66 27.47 36.91 22.35 23.93 17.93 14.17 11.27 14.03 24.30% <-IRR #YR-> 10 Price & Div CDN$
Median 5 Yrs 0.63% 0.73% Div %  5, 10 yrs Price Inc 16.21% P/E: Y-T 12.00 14.17 1.43% <-IRR #YR-> 5 Price & Div CDN$
-$2.72 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $22.56
-$21.68 $0.00 $0.00 $0.00 $0.00 $22.56
-$2.72 $0.00 $0.00 $0.00 $0.00 $0.10 $0.11 $0.13 $0.14 $0.15 $22.73
-$21.68 $0.11 $0.13 $0.14 $0.15 $22.73
Month Apr Nov 06 May 07 Nov 08 Nov 09 Oct 10
Pre-split '05 $5.58 $6.50 $17.00 $16.88 $29.00
Price Hi CDN$ $2.79 $3.25 $8.50 $8.44 $14.50 $19.50 $27.21 $28.00 $23.86 $16.00 $21.86 $27.30 740.00% <-Total Growth 10 Stock Price CDN$
Increase 10.95% 16.59% 161.54% -0.74% 71.85% 34.48% 39.54% 2.90% -14.79% -32.94% 36.63% 24.89% 23.72% <-IRR #YR-> 10 Stock Price CDN$
P/E 22.99 20.80 28.10 22.20 34.12 20.10 25.84 26.91 25.70 10.43 13.60 14.52 0.07% <-IRR #YR-> 5 Stock Price CDN$
Trailing P/E 28.23 26.80 54.40 27.89 38.16 45.88 28.05 26.59 22.93 17.23 14.25 16.98
Median 5 Yrs Price Inc 2.90% P/E: Y-T 14.52 17.23
-$3.25 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $27.30
-$27.21 $0.00 $0.00 $0.00 $0.00 $27.30
Month May Sep 06 Mar 08 Jul 08 Jun 09 May-10
Pre-split '05 $4.63 $4.38 $6.86 $11.75 $12.75
Price Low CDN$ $2.31 $2.19 $3.43 $5.88 $6.38 $11.87 $16.15 $22.39 $13.44 $10.32 $12.72 $17.82 419.31% <-Total Growth 9 Stock Price CDN$
Increase 27.59% -5.41% 56.87% 71.21% 8.51% 86.20% 36.06% 38.64% -39.97% -23.21% 23.26% 40.09% 23.34% <-IRR #YR-> 10 Stock Price CDN$
P/E 19.07 14.00 11.34 15.46 15.00 12.24 15.34 21.52 14.48 6.73 7.91 9.48 1.99% <-IRR #YR-> 5 Stock Price CDN$
Trailing P/E 23.42 18.04 21.96 19.42 16.78 27.93 16.65 21.26 12.92 11.12 8.29 11.08
Median 5 Yrs Price Inc 23.26% P/E: Y-T 9.48 11.12
-$2.19 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $17.82
-$16.15 $0.00 $0.00 $0.00 $0.00 $17.82
Market Cap $353 $467 $1,086 $1,132 $2,297 $3,441 $5,174 $4,795 $2,746 $2,449 $3,330 $4,698 CDN$
pre-split '02 19 19
pre-split '03 37 37 41
pre-split '05 74 74 83 85 99 Shares
# of Sh in M 148.76 148.96 165.78 169.19 197.62 203.97 202.04 202.33 196.73 187.63 183.65 183.59 183.59 183.59 Capital Stock Shares
Increase 1.96% 0.13% 11.29% 2.06% 16.81% 3.21% -0.95% 0.15% -2.77% -4.63% -2.12% -0.03% 0.00% 0.00% 0.06% <-Median-> 10 Shares CDN$
CF fr Op $M US$ $64.38 $46.78 $49.94 $98.62 $230.79 $327.58 $401.50 $403.00 $359.80 $502.80 $490.80 $618.90 $670.12 $679.30 1222.97% <-Total Growth 10 Cash Flow US$
OPS US$ $0.43 $0.31 $0.30 $0.58 $1.17 $1.61 $1.99 $1.99 $1.83 $2.68 $2.67 $3.37 $3.65 $3.70 973.37% <-Total Growth 10 Cash Flow US$
CF fr Op $M CDN$ 95.398 71.856 78.304 141.378 314.155 404.3 $449.80 $446.04 $363.11 $597.90 $493.16 $590.49 $658.00 $667.01 721.77% <-Total Growth 10 Cash Flow CDN$
OPS CDN$ $0.64 $0.48 $0.47 $0.84 $1.59 $1.98 $2.23 $2.20 $1.85 $3.19 $2.69 $3.22 $3.58 $3.63 566.74% <-Total Growth 10 Cash Flow CDN$
Non-Cash CF US$ -$21.42 -$14.68 $19.90 -$20.58 -$116.59 $0.00 -$57.20 -$30.70 $36.90 -$30.00 $44.90 $8.70 $0.00 $0.00 30.97% <-Average 10 Cash Flow CDN$
Non-Cash CF CDN$ -$31.75 -$22.55 $31.20 -$29.50 -$158.70 -$58.50 -$64.08 -$33.98 $37.24 -$35.67 $45.12 $8.30 $0.00 $0.00 20.89% <-IRR #YR-> 10 Cash Flow CDN$
OPS non-cash CDN$ $0.43 $0.33 $0.66 $0.66 $0.79 $1.70 $1.91 $2.04 $2.04 $3.00 $2.93 $3.26 $3.58 $3.63 7.64% <-IRR #YR-> 5 Cash Flow CDN$
Increase 222.47% -22.65% 99.58% 0.11% 18.96% 115.52% 12.61% 6.67% -0.07% 47.25% -2.19% 11.28% 9.89% 1.37% 25.71% <-IRR #YR-> 10 Cash Flow CDN$
P/O on Cl 5.55 9.48 9.92 10.12 14.78 9.95 13.41 11.64 6.86 4.36 6.19 7.85 8.06 7.95 11.31% <-IRR #YR-> 5 Cash Flow CDN$
*Operational Cash Flow per share P/CF 10 Yrs 9.51 5 Yrs 7.38
OPM 6.06% 4.29% 2.36% 5.91% 5.35% 3.96% 3.95% 3.33% 2.34% 3.19% 2.99% 3.26% 3.02% 3.00% should be zero, it is a check on calculations
Increase 83.7% 30.2% -28.4% 79.2% 62.2% 20.0% 19.8% 1.1% -29.0% -3.4% -9.5% -1.1% -8.5% -8.9% 0.00 <-Median-> 10 OPM CDN$
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 3.30% 5 Yrs 3.19%
Curr Assets US$ $100.31 $100.03 $137.86 $232.54 $555.98 $717.06 $863.00 $759.00 $945.20 $844.50 $1,031.10 $1,289.00 Liq ratio of 1.5 and up, best Assets US$
Curr Liab. $95.27 $110.23 $137.59 $220.14 $516.53 $612.30 $689.90 $787.50 $862.50 $789.00 $882.90 $1,020.30 1.09 <-Median-> 10 Liabilities US$
Liquidity 1.05 0.91 1.00 1.06 1.08 1.17 1.25 0.96 1.10 1.07 1.17 1.26 1.10 <-Median-> 5 Ratio US$
Curr Assets CDN$ $148.64 $153.65 $216.18 $333.37 $756.80 $885.00 $966.82 $840.06 $953.90 $1,004.2 $1,036.1 $1,229.8 Liq ratio of 1.5 and up, best Assets CDN$
Curr Liab. $141.17 $169.31 $215.76 $315.59 $703.10 $755.70 $772.89 $871.61 $870.44 $938.2 $887.1 $973.5 1.09 <-Median-> 10 Liabilities CDN$
Liquidity 1.05 0.91 1.00 1.06 1.08 1.17 1.25 0.96 1.10 1.07 1.17 1.26 1.10 <-Median-> 5 Ratio CDN$
Assets US$ $365.89 $362.06 $501.99 $747.31 $1,640.83 $1,975.21 $2,369.30 $3,043.20 $3,320.6 $3,255.9 $3,696.7 $3,999.6 A/L ratio of 1.5 and up, best Assets US$
Liab. $228.17 $213.40 $261.49 $436.79 $1,115.41 $1,234.32 $1,403.20 $1,897.80 $2,066.9 $1,929.9 $2,082.4 $2,063.5 1.69 <-Median-> 10 Liabilities US$
Liquidity 1.60 1.70 1.92 1.71 1.47 1.60 1.69 1.60 1.61 1.69 1.78 1.94 1.69 <-Median-> 5 Ratio US$
Assets CDN$ $542.18 $556.13 $787.17 $1,071.35 $2,233.49 $2,437.80 $2,654.33 $3,368.21 $3,351.1 $3,871.8 $3,714.5 $3,816.0 A/L ratio of 1.5 and up, best Assets CDN$
Liab. $338.10 $327.78 $410.04 $626.18 $1,518.30 $1,523.40 $1,572.00 $2,100.49 $2,085.9 $2,294.9 $2,092.4 $1,968.8 1.69 <-Median-> 10 Liabilities CDN$
Liquidity 1.60 1.70 1.92 1.71 1.47 1.60 1.69 1.60 1.61 1.69 1.78 1.94 1.69 <-Median-> 5 Ratio CDN$
Book Value US$ $137.72 $148.67 $240.50 $310.53 $525.41 $740.88 $966.10 $1,145.4 $1,253.7 $1,326.0 $1,614.3 $1,936.1 1202.32% <-Total Growth 10 Book Value
Book Value CDN$ $204 $228 $377 $445 $715 $914 $1,082 $1,267.7 $1,265.2 $1,576.8 $1,622.1 $1,847.2 $1,847.2 $1,847.2 708.94% <-Total Growth 10 Book Value CDN$
BV per share $1.37 $1.53 $2.27 $2.63 $3.62 $4.48 $5.36 $6.27 $6.43 $8.40 $8.83 $10.06 $10.06 $10.06 556.33% <-Total Growth 10 Book Value CDN$
Change 8.50% 11.75% 48.39% 15.66% 37.54% 23.87% 19.49% 16.96% 2.65% 30.67% 5.10% 13.92% 0.00% 0.00% 0.9381 Current/Historical Book Value CDN$
P/BV (CL) 1.73 2.05 2.88 2.54 3.21 3.76 4.78 3.78 2.17 1.55 2.05 2.54 2.87 2.87 20.70% <-IRR #YR-> 10 Book Value CDN$
Change -10.87% 18.22% 40.68% -11.70% 26.34% 17.15% 27.04% -20.88% -42.62% -28.46% 32.19% 23.90% 12.93% 0.00% 13.44% <-IRR #YR-> 5 Book Value CDN$
Leverage (A/BK) 2.66 2.44 2.09 2.41 3.12 2.67 2.45 2.66 2.65 2.46 2.29 2.07 2.45 <-Median-> 10 A/BV CDN$
Debt/Equity Ratio 1.66 1.44 1.09 1.41 2.12 1.67 1.45 1.66 1.65 1.46 1.29 1.07 1.45 <-Median-> 10 Debt/Eq Ratio
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Ave 2.71 5 yr Ave 2.17 CDN$
-$1.53 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $10.06
-$5.36 $0.00 $0.00 $0.00 $0.00 $10.06
ROE 16.4% 14.0% 22.6% 21.2% 18.80% <-Median-> 4 Compreh. Inc US$
Comprehensive Inc $205.40 $186.20 $365.30 $410.80 Compreh. Inc US$
ROE 16.4% 14.0% 22.6% 21.2% 18.80% <-Median-> 4 Compreh. Inc CDN$
Comprehensive Inc $207.29 $221.42 $367.06 $391.94 Compreh. Inc CDN$
ROE 8.9% 10.5% 17.5% 17.9% 11.1% 21.8% 20.3% 17.1% 15.1% 19.1% 18.8% 19.1% Net Income/Shareholders' equity
5Yr Median 9.2% 9.2% 10.5% 11.1% 17.5% 17.9% 17.9% 17.1% 19.1% 18.8% 18.8%
Net Income US$ $12.21 $15.61 $42.12 $55.46 $58.41 $161.64 $196.20 $196.40 $189.30 $253.90 $302.90 $370.10 2271.51% <-Total Growth 10 Net Income US$
Oper C. F. $401.50 $403.00 $359.80 $502.80 $490.80 $618.90 C F Statement  Oper C. F. US$
Invest. C. F -$316.80 -$920.20 -$160.40 -$160.40 -$333.50 -$235.90 C F Statement  Invest. C. F US$
Total Assets $2,369.30 $3,043.20 $3,320.60 $3,255.90 $3,696.70 $3,999.60 Balance Sheet Assets US$
Accruals Ratio 4.71% 23.45% -0.30% -2.72% 3.94% -0.32% Ratio US$
Fin C. F. -$15.40 $327.40 -$136.50 -$136.50 -$123.20 -$290.40 C F Statement  Fin. C. F US$
Total Accruals $126.90 $386.20 $126.40 $48.00 $268.80 $277.50 Accruals US$
Accruals Ratio 5.36% 12.69% 3.81% 1.47% 7.27% 6.94% Ratio US$
Net Income CDN$ $18.10 $23.97 $66.04 $79.51 $79.51 $199.50 $219.80 $217.38 $191.04 $301.93 $304.36 $353.11 1373.08% <-Total Growth 10 Net Income CDN$
Oper C. F. $95.40 $71.86 $78.30 $141.38 $314.16 $404.30 $449.80 $446.04 $363.11 $597.90 $493.16 $590.49 C F Statement  Oper C. F. CDN$
Invest. C. F -$77.89 -$40.42 -$196.32 -$242.97 -$761.16 -$283.30 -$354.91 -$1,018.48 -$161.88 -$190.74 -$335.10 -$225.07 C F Statement  Invest. C. F CDN$
Total Accruals $0.59 -$7.46 $184.06 $181.10 $526.51 $78.50 $124.91 $789.81 -$10.19 -$105.24 $146.30 -$12.31 Accruals CDN$
Total Assets $542.18 $556.13 $787.17 $1,071.35 $2,233.49 $2,437.80 $2,654.33 $3,368.21 $3,351.15 $3,871.75 $3,714.48 $3,816.02 Balance Sheet Assets CDN$
Accruals Ratio 0.11% -1.34% 23.38% 16.90% 23.57% 3.22% 4.71% 23.45% -0.30% -2.72% 3.94% -0.32% Ratio CDN$
Chge in Cl -3.30% 32.11% 108.76% 2.14% 73.77% 45.12% 51.81% -7.46% -41.10% -6.52% 38.93% 41.15%
Fin C. F. CDN$ $0.00 $0.00 $124.42 $136.43 $605.62 $4.60 -$17.25 $362.37 -$137.76 -$162.32 -$123.79 -$277.07 C F Statement  Fin. C. F CDN$
Total Accruals $59.64 $44.67 -$79.11 $73.90 $142.17 $427.45 $127.56 $57.08 $270.09 $264.76 Accruals CDN$
Accruals Ratio 7.58% 4.17% -3.54% 3.03% 5.36% 12.69% 3.81% 1.47% 7.27% 6.94% Ratio CDN$
August 6, 2011.  When last I looked, I gog 2011 and 2012 earnings of $1.65 and $1.82 US$ and $23.76 and $3.05 US$ for cash flow.
Jul 15, 2010.  When I last looked I got  estimates for 2010 and 2011 of $1.35 and $1.45 US$ for earnings and of $2.36 and $2.57 US$ for Cash Flow.
In August 2008, I got an earnings estimate of $.87 USD and it was way off as earnings came in at $1.29USD
AP 2007.  I know they had some problems over the last year.  Mar 2008 TD has this stock as an Action Buy.
AP 2006. Problems:  Number of shares are increasing at about 12% a year and  Accrual Ratio is awful. However, number of share increases correspond with acquisitions, so not so bad. Also book value is increasing.
Do not know what to make of accrual ratio. Revenue, earnings and stocks prices increasing at a fast clip.  Keep for awhile as just bought in 2004.
AP 2005. Loans are high. This is due to new purchases.  Stock is doing well though.
Dec 2004.  TD has a buy on this stock. 
Multiple voting shares are ATD.A and Subordinate Voting Shares are ATD.B.
The Corporation’s year-end is the last Sunday of April of each year
How they make their money.
In North America, Couche-Tard is the largest independent convenience store operator (whether integrated with a petroleum company or not) in terms of number of company-operated stores.  Its stores 
offer a broad mix of food products, beverages, other merchandise and services and motor fuel. Grouped under three main brands: Couche-Tard, Mac’s and Circle K. Stores are located across 10 Provinces of 
Canada in three geographic markets (East, Centre and West), and across 43 American states and the District of Columbia in eight major markets (Great Lakes, Midwest, Southeast, Florida, Gulf, Arizona, 
West Coast and Southwest). In addition, a network of about 3,700 licensees extends in seven other regions worldwide (China, Guam, Hong Kong, Indonesia, Japan, Macau and Mexico).
For most ratios, lower is better when looking for a good stock price.  However, there are exceptions such as for yield and asset/liability ratios and here you want a higher ratios to indicate a good stock price.  
Also, for the Operational Profit Margin, a higher percentage is better.  With the OPM, you should only compare companies in similar industries.
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53.69 Class A 15.019 27.97%
Metro inc. 129.90 Class B 5.724 4.41%
20.742 11.30%
Class A
D'Amours, Jacques 10.786 20.09%
Bouchard, Alain Class A 19.225 35.81%
Class B 1.413 1.09%
20.638 11.24%
Fortin, Richard Class A 5.465 10.18%
Class B 0.152 0.12%
5.617 3.06%
Plourde, Réal Class A 2.224 4.14%
Class B 1.344 1.03%
3.567 1.94%