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. Estimates Estimates Estimates
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Alimentation Couche-Tard Inc.  TSX: ATD.B OTC ANCUF http://corpo.couche-tard.com/en/ Fiscal Yr: Apr 30
Year 4/30/06 4/29/07 4/27/08 4/26/09 4/25/10 4/24/11 4/29/12 4/28/13 4/27/14 4/26/15 4/24/16 4/30/17 4/30/18 4/30/19 4/29/20 Value Description #Y Item Total G Currency
Accounting Rules C GAAP IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS Accounting Rules
$ Reporting in  US$ --> $ Reporting in 
US$-CND$ 1.1203 1.1068 1.0092 1.1892 1.0048 0.9541 0.9807 1.0139 1.1033 1.1042 1.2680 1.3427 1.2390 1.2390 1.2390 US$-CND$
-9.23% -1.21% -8.82% 17.83% -15.50% -5.05% 2.78% 3.39% 8.81% 0.08% 14.83% 5.89% -7.72% 0.00% $225.25
$33,586 <-12 mths -1.64%
Revenue US$   $10,157 $12,087 $15,370 $15,781 $16,440 $18,966 $22,998 $35,543 $37,957 $34,530 $34,145 $37,905 $47,225 $53,179 $52,540 213.59% <-Total Growth 10 Revenue US$
Increase 22.71% 19.00% 27.16% 2.67% 4.17% 15.37% 21.26% 54.55% 6.79% -9.03% -1.12% 11.01% 24.59% 12.61% -1.20% 12.11% <-IRR #YR-> 10 Revenue 213.59% US$
5 year Running Average $5,306 $7,301 $10,041 $12,335 $13,967 $15,729 $17,911 $21,946 $26,381 $29,999 $33,034 $36,016 $38,352 $41,397 $44,999 10.51% <-IRR #YR-> 5 Revenue 64.82% US$
Revenue per Share $16.76 $19.91 $26.04 $28.04 $29.84 $34.43 $42.81 $63.16 $67.09 $60.86 $60.48 $66.68 $83.08 $93.55 $92.43 17.30% <-IRR #YR-> 10 5 yr Running Average 393.30% US$
Increase 23.89% 18.83% 30.78% 7.65% 6.43% 15.40% 24.33% 47.54% 6.22% -9.29% -0.63% 10.26% 24.59% 12.61% -1.20% 14.99% <-IRR #YR-> 5 5 yr Running Average 101.08% US$
5 year Running Average $9.02 $12.15 $16.70 $20.86 $24.12 $27.65 $32.23 $39.66 $47.47 $53.67 $58.88 $63.65 $67.64 $72.93 $79.24 12.85% <-IRR #YR-> 10 Revenue per Share 234.86% US$
P/S (Price/Sales) Med 9.27% <-IRR #YR-> 5 Revenue per Share 55.75% US$
P/S (Price/Sales) Close 0.45 0.35 0.17 0.12 0.20 0.26 0.33 0.32 0.42 0.63 0.72 0.69 0.58 0.52 0.52 18.01% <-IRR #YR-> 10 5 yr Running Average 423.80% US$
*Revenue in M US $  P/S Close 10 yr  0.33 5 yr  0.63 77.76% Diff M/C 14.58% <-IRR #YR-> 5 5 yr Running Average 97.48% US$
$45,095 <-12 mths 4.16%
Revenue CDN$* $11,379 $13,378 $15,511 $18,766 $16,519 $18,095 $22,552 $36,038 $41,878 $38,128 $43,295 $50,894 $58,512 $65,889 $65,097 280.42% <-Total Growth 10 Revenue CDN$
Increase 11.39% 17.57% 15.94% 20.98% -11.98% 9.54% 24.63% 59.80% 16.20% -8.95% 13.55% 17.55% 14.97% 12.61% -1.20% 14.29% <-IRR #YR-> 10 Revenue 280.42% CDN$
5 year Running Average $6,635 $8,648 $11,271 $13,850 $15,111 $16,454 $18,289 $22,394 $27,016 $31,338 $36,378 $42,047 $46,541 $51,344 $56,737 17.68% <-IRR #YR-> 5 Revenue 125.67% CDN$
Revenue per Share $18.77 $22.04 $26.28 $33.34 $29.98 $32.85 $41.98 $64.04 $74.02 $67.20 $76.68 $89.53 $102.93 $115.91 $114.52 17.13% <-IRR #YR-> 10 5 yr Running Average 386.23% CDN$
Increase 12.45% 17.40% 19.25% 26.85% -10.07% 9.58% 27.79% 52.54% 15.58% -9.21% 14.11% 16.75% 14.97% 12.61% -1.20% 18.12% <-IRR #YR-> 5 5 yr Running Average 129.90% CDN$
5 year Running Average $11.35 $14.43 $18.74 $23.43 $26.08 $28.90 $32.89 $40.44 $48.58 $56.02 $64.79 $74.30 $82.07 $90.45 $99.91 15.05% <-IRR #YR-> 10 Revenue per Share 306.23% CDN$
P/S (Price/Sales) Med 0.38 0.38 0.24 0.13 0.19 0.23 0.27 0.26 0.34 0.59 0.71 0.67 16.35% <-IRR #YR-> 5 Revenue per Share 113.25% CDN$
P/S (Price/Sales) Close 0.45 0.36 0.18 0.13 0.20 0.26 0.34 0.31 0.41 0.69 0.72 0.70 0.58 0.52 0.52 17.81% <-IRR #YR-> 10 5 yr Running Average 415.04% CDN$
*Revenue in M CDN $  P/S Med 10 yr  0.26 5 yr  0.59 119.60% Diff M/C 17.70% <-IRR #YR-> 5 5 yr Running Average 125.90% CDN$
-$13,378 $0 $0 $0 $0 $0 $0 $0 $0 $0 $50,894
-$22,552 $0 $0 $0 $0 $50,894
-$8,648 $0 $0 $0 $0 $0 $0 $0 $0 $0 $42,047
-$18,289 $0 $0 $0 $0 $42,047
-$22.04 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $89.53
-$41.98 $0.00 $0.00 $0.00 $0.00 $89.53
-$14.43 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $74.30
-$32.89 $0.00 $0.00 $0.00 $0.00 $74.30
$2.14 <-12 mths 1.90%
pre-split '14 $2.00 $2.54
EPS Basic US$ $0.32 $0.32 $0.31 $0.44 $0.55 $0.67 $0.85 $1.03 $1.44 $1.65 $2.10 $2.13 565.63% <-Total Growth 10 EPS Basic US$
pre-split '14 $0.94 $0.94 $0.92 $1.29 $1.60 $1.96 $2.49 $3.07
EPS Diluted* $0.31 $0.31 $0.31 $0.43 $0.53 $0.65 $0.83 $1.02 $1.43 $1.64 $2.10 $2.12 $2.81 $3.38 $3.02 576.60% <-Total Growth 10 EPS Diluted US$
Increase 19.6% 0.0% -2.1% 40.2% 24.0% 22.5% 27.0% 23.3% 39.7% 14.7% 28.0% 1.0% 32.5% 20.3% -10.7% 21.07% <-IRR #YR-> 10 Earnings per Share 576.60% US$
Earnings Yield  4.2% 4.5% 7.0% 12.8% 8.7% 7.4% 5.8% 5.1% 5.1% 4.3% 4.8% 4.6% 5.8% 7.0% 6.3% 20.63% <-IRR #YR-> 5 Earnings per Share 155.42% US$
5 year Running Average $0.17 $0.22 $0.26 $0.33 $0.38 $0.45 $0.55 $0.69 $0.89 $1.12 $1.40 $1.66 $2.02 $2.41 $2.69 22.63% <-IRR #YR-> 10 5 yr Running Average 668.99% US$
10 year Running Average $0.09 $0.12 $0.15 $0.19 $0.24 $0.31 $0.38 $0.48 $0.61 $0.75 $0.93 $1.11 $1.36 $1.65 $1.90 24.73% <-IRR #YR-> 5 5 yr Running Average 201.94% US$
* Diluted ESP per share  E/P 10 Yrs 5.45% 5Yrs 4.80%
$2.87 <-12 mths 7.91%
EPS Basic CDN$ $0.36 $0.35 $0.31 $0.52 $0.55 $0.64 $0.83 $1.04 $1.59 $1.82 $2.66 $2.86 707.49% <-Total Growth 10 EPS Basic CDN$
EPS Diluted* $0.35 $0.35 $0.31 $0.51 $0.54 $0.62 $0.81 $1.04 $1.58 $1.81 $2.66 $2.85 $3.48 $4.19 $3.74 720.80% <-Total Growth 10 EPS Diluted CDN$
Increase 8.6% -1.2% -10.8% 65.2% 4.8% 16.3% 30.6% 27.5% 52.1% 14.8% 47.0% 6.9% 22.3% 20.3% -10.7% 23.43% <-IRR #YR-> 10 Earnings per Share 720.80% CDN$
Earnings Yield 4.1% 4.4% 6.7% 11.8% 8.9% 7.3% 5.7% 5.2% 5.1% 3.9% 4.8% 4.5% 5.8% 7.0% 6.3% 28.45% <-IRR #YR-> 5 Earnings per Share 249.72% CDN$
5 year Running Average $0.21 $0.26 $0.29 $0.37 $0.41 $0.47 $0.56 $0.70 $0.92 $1.17 $1.58 $1.99 $2.48 $3.00 $3.38 22.65% <-IRR #YR-> 10 5 yr Running Average 670.50% CDN$
10 year Running Average $0.12 $0.15 $0.18 $0.23 $0.28 $0.34 $0.41 $0.50 $0.64 $0.79 $1.02 $1.27 $1.59 $1.96 $2.28 28.88% <-IRR #YR-> 5 5 yr Running Average 255.60% CDN$
* Diluted ESP per share  E/P 10 Yrs 5.45% 5Yrs 4.84%
-$0.35 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.85
-$0.81 $0.00 $0.00 $0.00 $0.00 $2.85
-$0.26 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.99
-$0.56 $0.00 $0.00 $0.00 $0.00 $1.99
Pre-split 2014 $0.05
Special Dividend  $0.02 $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 $0.00 <-Median-> 10 Special Dividend  CDN$
Pre-split 2014 $0.11 $0.130 $0.140 $0.145 $0.18 $0.28 $0.30
Dividend* $0.04 $0.04 $0.05 $0.05 $0.06 $0.09 $0.10 $0.12 $0.18 $0.25 $0.34 $0.36 $0.36 $0.36 673.08% <-Total Growth 10 Dividends CDN$
Increase 18.18% 7.69% 3.57% 24.14% 52.78% 9.09% 20.77% 44.90% 40.00% 36.73% 7.46% 0.00% 0.00% Count 11 Increase CDN$
Dividends 5 Yr Running $0.19 $0.23 $0.28 $0.26 $0.11 $0.15 $0.20 $0.25 $0.30 $0.33 #DIV/0! <-Total Growth 6 Dividends 5 Yr Running CDN$
Yield H/L Price 0.23% 0.44% 0.70% 1.06% 0.84% 0.80% 0.81% 0.60% 0.48% 0.44% 0.45% 0.56% 0.58% 0.65% <-Median-> 10 Yield H/L Price CDN$
Yield on High  Price 0.18% 0.39% 0.54% 0.88% 0.66% 0.66% 0.64% 0.50% 0.39% 0.34% 0.39% 0.49% 0.56% 0.52% <-Median-> 10 Yield on High  Price CDN$
Yield on Low Price 0.31% 0.49% 0.97% 1.36% 1.14% 1.01% 1.09% 0.77% 0.64% 0.61% 0.54% 0.64% 0.61% 0.87% <-Median-> 10 Yield on Low Price CDN$
Yield on Close Price 0.20% 0.46% 0.93% 1.07% 0.80% 0.70% 0.64% 0.50% 0.39% 0.38% 0.45% 0.53% 0.60% 0.60% 0.61% 0.59% <-Median-> 10 Yield on Close Price CDN$
Payout Ratio EPS 0.00% 10.57% 14.00% 9.13% 9.02% 9.63% 11.26% 9.64% 7.65% 9.66% 9.20% 11.77% 10.34% 8.60% 9.62% 9.63% <-Median-> 10 DPR EPS CDN$
DPR EPS 5 Yr Running 40.40% 41.52% 39.37% 28.78% 9.34% 9.27% 9.82% 9.98% 9.84% 9.81% 28.78% <-Median-> 7 DPR EPS 5 Yr Running CDN$
Payout Ratio CFPS 0.00% 4.99% 7.04% 4.39% 5.40% 5.60% 6.57% 4.78% 4.33% 5.24% 5.78% 7.37% 5.97% 6.51% 6.97% 5.50% <-Median-> 10 DPR CF CDN$
DPR CF 5 Yr Running 21.46% 23.02% 21.28% 16.03% 5.12% 5.29% 5.74% 5.90% 6.23% 6.51% 16.03% <-Median-> 7 DPR CF 5 Yr Running CDN$
Payout Ratio CFPS WC 0.00% 5.40% 6.39% 4.67% 4.95% 5.52% 7.39% 5.08% 4.71% 6.60% 6.07% 7.43% 5.97% 6.51% 6.97% 5.79% <-Median-> 10 DPR CF WC CDN$
DPR CF WC 5 Yr Running 21.27% 23.29% 22.11% 16.85% 5.76% 5.88% 6.20% 6.24% 6.48% 6.57% 16.85% <-Median-> 7 DPR CF WC 5 Yr Running CDN$
Median Values 5 Yr Med 5 Yr Cl 0.48% 0.45% 5 Yr Med Payout 9.64% 5.24% 6.07% 24.76% <-IRR #YR-> 10 Dividends 813.64% CDN$
* Dividends per share  5 Yr Med and Cur. 25.52% 35.28% Last Div Inc ---> $0.078 $0.090 16.1% 29.59% <-IRR #YR-> 5 Dividends 265.45% CDN$
-$0.04 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.34
-$0.09 $0.00 $0.00 $0.00 $0.00 $0.34
Historical Dividends Historical High Div 1.29% Low Div 0.23% Ave Div 0.76% Med Div 0.58% Close Div 0.52% Historical Dividends CDN$
High/Ave/Median Values Curr diff Exp. -53.29%     162.00% Exp. -20.71% Cheap 3.90% Cheap 16.37% High/Ave/Median  CDN$
Future Dividend Yield Div Yd 1.73% earning in 5 Years at IRR of 23.50% Div Inc. 187.30% Future Dividend Yield CDN$
Future Dividend Yield Div Yd 4.97% earning in 10 Years at IRR of 23.50% Div Inc. 725.41% Future Dividend Yield CDN$
Future Dividend Yield Div Yd 14.29% earning in 15 Years at IRR of 23.50% Div Inc. 2271.40% Future Dividend Yield CDN$
Future Dividend Yield Div Yd 41.06% earning in 20 Years at IRR of 23.50% Div Inc. 6713.01% Future Dividend Yield CDN$
I am earning GC sold Div Gr 980.11% 15/01/04 # yrs -> 10 2004 $3.97 Cap Gain 1404.79% I am earning GC
I am earning Div org yield 0.84% 12/31/14 Pension Div G Yrly 24.23% Div start $0.03 -0.84% 9.07% I am earning Div
Yield if held 5 yrs 1.84% 1.82% 1.34% 0.92% 0.83% 1.09% 1.61% 2.75% 3.04% 3.26% 2.95% 2.17% 1.43% 0.90% 1.71% <-Median-> 10 Paid Median Price CDN$
Yield if held 10 yrs 12.22% 7.28% 6.47% 5.69% 6.62% 4.61% 4.19% 3.47% 3.35% 3.39% 3.99% 5.79% 8.21% 6.25% 4.40% <-Median-> 10 Paid Median Price CDN$
Yield if held 15 yrs 67.88% 40.00% 30.38% 30.55% 16.81% 16.75% 20.59% 27.03% 16.85% 15.09% 10.35% 6.89% 27.03% <-Median-> 9 Paid Median Price CDN$
Yield if held 20 yrs 175.67% 144.83% 124.05% 111.64% 60.52% 49.94% 42.35% 134.44% <-Median-> 4 Paid Median Price CDN$
Yield if held 25 yrs 523.64% 297.93% #NUM! <-Median-> 0 Paid Median Price CDN$
Cost cover if held 5 years 1.84% 2.68% 4.05% 4.12% 3.67% 3.25% 3.45% 5.58% 9.59% 9.50% 9.74% 8.60% 7.46% 5.86% 4.15% 4.85% <-Median-> 10 Paid Median Price CDN$
Cost cover if held 10 years 8.44% 17.77% 16.25% 19.88% 22.55% 27.77% 17.27% 18.59% 16.21% 14.14% 13.39% 15.07% 25.45% 43.22% 38.30% 16.76% <-Median-> 10 Paid Median Price CDN$
Cost cover if held 15 years 208.48% 158.62% 127.43% 114.41% 74.53% 78.26% 86.95% 108.59% 66.33% 70.39% 58.61% 45.89% 108.59% <-Median-> 9 Paid Median Price CDN$
Cost cover if held 20 years 820.51% 611.67% 498.28% 439.58% 282.28% 282.88% 282.25% 554.98% <-Median-> 4 Paid Median Price CDN$
Cost cover if held 25 years 2965.97% 1985.46% #NUM! <-Median-> 0 Paid Median Price CDN$
Graham price net inc/shares $3.82 $4.10 $3.95 $5.81 $6.05 $6.96 $8.64 $11.60 $16.58 $17.59 $26.14 $30.20 $33.39 $36.57 $0.00 GP using net inc/# of shares
Graham price $3.76 $4.04 $3.86 $5.68 $5.96 $6.86 $8.53 $11.63 $16.56 $17.57 $26.05 $30.15 $33.35 $36.57 $34.57 646.91% <-Total Growth 10 Graham Price CDN$
Price/GP Ratio Med 1.92 2.08 1.61 0.77 0.97 1.10 1.33 1.42 1.52 2.27 2.09 2.00 1.86 1.47 <-Median-> 10 Price/GP Ratio CDN$
Price/GP Ratio Hi 2.42 2.31 2.06 0.94 1.22 1.33 1.68 1.73 1.89 2.91 2.44 2.27 1.94 1.81 <-Median-> 10 Price/GP Ratio CDN$
Price/GP Ratio Low 1.43 1.85 1.16 0.61 0.71 0.87 0.98 1.11 1.15 1.64 1.74 1.73 1.77 1.13 <-Median-> 10 Price/GP Ratio CDN$
Price/GP Ratio Cl 2.27 1.96 1.20 0.77 1.01 1.24 1.68 1.71 1.85 2.63 2.11 2.08 1.79 1.63 1.71 1.69 <-Median-> 10 Price/GP Ratio CDN$
Prem/Disc CL 127.31% 95.70% 20.44% -23.38% 1.43% 24.37% 67.51% 71.22% 85.06% 162.85% 111.12% 108.21% 79.15% 63.35% 70.79% 69.36% <-Median-> 10 Graham Price CDN$
Month, Year Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19
Pre-split 2014 $23.40 $25.35 $18.29 $14.44 $20.82 $27.06 $31.70 $48.93
Price Close Dec CDN$ $7.80 $8.45 $6.10 $4.81 $6.94 $9.02 $10.57 $16.31 $26.63 $48.69 $60.91 $60.88 $59.74 $59.74 $59.74 620.47% <-Total Growth 10 Stock Price CDN$
Increase 32.20% 8.33% -27.85% -21.05% 44.18% 29.97% 17.15% 54.35% 63.27% 82.84% 25.10% -0.05% -1.87% 0.00% 0.00% 21.83% <-IRR #YR-> 10 Stock Price 620.47% CDN$
P/E 22.22 24.37 19.70 9.41 12.95 14.47 12.98 15.72 16.88 26.89 22.87 21.39 17.16 14.27 15.97 41.94% <-IRR #YR-> 5 Stock Price 476.15% CDN$
Trailing P/E 24.12 24.07 17.58 15.55 13.57 16.83 16.95 20.04 25.67 30.86 33.64 22.86 20.99 17.16 14.27 22.32% <-IRR #YR-> 10 Price & Dividend CDN$
Median 10, 5 Yrs D.  per yr 0.49% 0.83% % Tot Ret 2.19% 1.95% Price Inc 54.35% P/E:  16.30 21.39 42.77% <-IRR #YR-> 5 Price & Dividend CDN$
-$8.45 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $60.88
-$10.57 $0.00 $0.00 $0.00 $0.00 $60.88
-$8.45 $0.04 $0.05 $0.05 $0.06 $0.09 $0.10 $0.12 $0.18 $0.25 $61.22
-$10.57 $0.10 $0.12 $0.18 $0.25 $61.22
Month, Year Apr-06 Apr-07 Apr-08 Apr-09 Apr-10 Apr-11 Apr-12 Apr-13 Apr-14 Apr-15 Apr-16 Apr-17 Apr-18 Apr-19 Apr-20
Pre-split '05
Pre-split 2014 $25.61 $23.70 $13.96 $13.05 $18.13 $25.59 $42.85 $59.75
Price Close Apr CDN$ $8.54 $7.90 $4.65 $4.35 $6.04 $8.53 $14.28 $19.92 $30.65 $46.18 $55.00 $62.78 $59.74 $59.74 $59.04 694.68% <-Total Growth 10 Stock Price CDN$
Increase 51.81% -7.46% -41.10% -6.52% 38.93% 41.15% 67.45% 39.44% 53.89% 50.67% 19.10% 14.15% -4.84% 0.00% -1.17% 23.03% <-IRR #YR-> 10 Stock Price 694.68% CDN$
P/E 24.32 22.78 15.04 8.51 11.28 13.68 17.55 19.20 19.43 25.50 20.65 22.05 17.16 14.27 15.78 34.46% <-IRR #YR-> 5 Stock Price 339.53% CDN$
Trailing P/E 26.40 22.51 13.42 14.06 11.82 15.92 22.91 24.47 29.54 29.27 30.37 23.58 20.99 17.16 14.10 23.53% <-IRR #YR-> 10 Price & Dividend CDN$
Median 10, 5 Yrs D.  per yr 0.50% 0.69% % Tot Ret 2.12% 1.95% Price Inc 39.44% P/E:  18.37 20.65 35.15% <-IRR #YR-> 5 Price & Dividend CDN$
-$7.90 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $62.78
-$14.28 $0.00 $0.00 $0.00 $0.00 $62.78
-$7.90 $0.04 $0.05 $0.05 $0.06 $0.09 $0.10 $0.12 $0.18 $0.25 $63.12
-$14.28 $0.10 $0.12 $0.18 $0.25 $63.12
Price Med H/L CDN$ $7.23 $8.40 $6.22 $4.39 $5.76 $7.52 $11.34 $16.56 $25.16 $39.96 $54.44 $60.34 $61.99 618.42% <-Total Growth 10 Stock Price CDN$
Increase 38.22% 16.21% -25.98% -29.44% 31.38% 30.48% 50.80% 45.99% 51.95% 58.84% 36.24% 10.84% 2.73% 21.80% <-IRR #YR-> 10 Stock Price 618.42% CDN$
P/E 20.59 24.22 20.09 8.58 10.75 12.06 13.93 15.96 15.94 22.06 20.44 21.20 17.80 39.70% <-IRR #YR-> 5 Stock Price 432.05% CDN$
Trailing P/E 22.35 23.93 17.93 14.17 11.27 14.03 18.19 20.34 24.24 25.32 30.06 22.66 21.78 22.29% <-IRR #YR-> 10 Price & Dividend CDN$
P/E on Run. 5 yr Ave 34.63 32.56 21.11 11.91 14.03 16.16 20.29 23.50 27.41 34.07 34.44 30.36 25.04 40.50% <-IRR #YR-> 5 Price & Dividend CDN$
P/E on Run. 10 yr Ave 59.37 54.38 34.06 19.04 20.59 22.31 27.77 33.15 39.12 50.46 53.21 47.40 38.98 18.12 P/E Ratio Historical Median CDN$
Median 10, 5 Yrs D.  per yr 0.49% 0.80% % Tot Ret 2.21% 1.98% Price Inc 45.99% P/E:  15.95 20.44 Count 22 Years of data
-$8.40 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $60.34
-$11.34 $0.00 $0.00 $0.00 $0.00 $60.34
-$8.40 $0.04 $0.05 $0.05 $0.06 $0.09 $0.10 $0.12 $0.18 $0.25 $60.67
-$11.34 $0.10 $0.12 $0.18 $0.25 $60.67
Month Apr Nov 06 May 07 Nov 08 Nov 09 Oct 10 Apr 12 Apr 13 Mar 14 Apr 15 Dec 15 Aug 16 Jun 17
Pre-split '05
Pre-split 2014 $27.21 $28.00 $23.86 $16.00 $21.86 $27.30 $42.85 $60.51
Price High CDN$ $9.07 $9.33 $7.95 $5.33 $7.29 $9.10 $14.28 $20.17 $31.31 $51.06 $63.53 $68.37 $64.85 632.54% <-Total Growth 10 Stock Price CDN$
Increase 39.54% 2.90% -14.79% -32.94% 36.63% 24.89% 56.96% 41.21% 55.23% 63.08% 24.42% 7.62% -5.15% 22.03% <-IRR #YR-> 10 Stock Price 632.54% CDN$
P/E 25.84 26.91 25.70 10.43 13.60 14.60 17.55 19.44 19.85 28.20 23.86 24.02 18.63 36.78% <-IRR #YR-> 5 Stock Price 378.67% CDN$
Trailing P/E 28.05 26.59 22.93 17.23 14.25 16.98 22.91 24.78 30.18 32.36 35.08 25.68 22.78 21.50 P/E Ratio Historical Median CDN$
Median 10, 5 Yrs Price Inc 41.21% P/E:  19.64 23.86 26.91 P/E Ratio Historical High CDN$
-$9.33 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $68.37
-$14.28 $0.00 $0.00 $0.00 $0.00 $68.37
Month May Sep 06 Mar 08 Jul 08 Jun 09 May 10 May 11 May 12 Aug 13 Jul 14 May 15 Jun 16 Aug 17
Pre-split '05
Pre-split 2014 $16.15 $22.39 $13.44 $10.32 $12.72 $17.82 $25.19 $38.82
Price Low CDN$ $5.38 $7.46 $4.48 $3.44 $4.24 $5.94 $8.40 $12.94 $19.00 $28.85 $45.34 $52.30 $59.12 600.76% <-Total Growth 10 Stock Price CDN$
Increase 36.06% 38.64% -39.97% -23.21% 23.26% 40.09% 41.36% 54.11% 46.83% 51.84% 57.16% 15.35% 13.04% 21.49% <-IRR #YR-> 10 Stock Price 600.76% CDN$
P/E 15.34 21.52 14.48 6.73 7.91 9.53 10.32 12.47 12.04 15.93 17.03 18.37 16.98 44.17% <-IRR #YR-> 5 Stock Price 522.87% CDN$
Trailing P/E 16.65 21.26 12.92 11.12 8.29 11.08 13.47 15.90 18.31 18.29 25.04 19.64 20.77 12.79 P/E Ratio Historical Median CDN$
Median 10, 5 Yrs Price Inc 51.84% P/E:  12.26 15.93 9.53 P/E Ratio Historical Low CDN$
-$7.46 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $52.30
-$8.40 $0.00 $0.00 $0.00 $0.00 $52.30
Month, Year Apr-06 Apr-07 Apr-08 Apr-09 Apr-10 Apr-11 Apr-12 Apr-13 Apr-14 Apr-15 Apr-16 Apr-17 Apr-18 Apr-19 Apr-20
Pre-split '05
Pre-split 2014 $25.61 $23.70 $13.96 $13.05 $18.13 $25.59 $42.85 $59.75
Price Close Apr US$ $7.53 $7.02 $4.41 $3.37 $6.11 $8.87 $14.25 $20.20 $28.31 $38.27 $43.78 $46.02 $48.19 $48.19 $48.19 555.56% <-Total Growth 10 Stock Price US$
Increase 65.86% -6.77% -37.18% -23.58% 81.31% 45.17% 60.65% 41.75% 40.15% 35.18% 14.40% 5.12% 4.72% 0.00% 0.00% 20.69% <-IRR #YR-> 10 Stock Price 555.56% US$
P/E 24.03 22.40 14.38 7.84 11.46 13.58 17.17 19.74 19.80 23.34 20.85 21.71 17.15 14.26 15.96 26.42% <-IRR #YR-> 5 Stock Price 222.95% US$
Trailing P/E 28.74 22.40 14.07 10.99 14.21 16.63 21.81 24.34 27.66 26.76 26.70 21.91 22.73 17.15 14.26 21.30% <-IRR #YR-> 10 Price & Dividend US$
Median 10, 5 Yrs D.  per yr 0.62% 0.78% % Tot Ret 2.89% 2.87% Price Inc 35.18% P/E:  18.45 20.85 27.20% <-IRR #YR-> 5 Price & Dividend US$
-$7.02 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $46.02
-$14.25 $0.00 $0.00 $0.00 $0.00 $46.02
-$7.02 $0.04 $0.05 $0.05 $0.06 $0.09 $0.10 $0.12 $0.18 $0.25 $46.36
-$14.25 $0.10 $0.12 $0.18 $0.25 $46.36
Long Term Debt US$ $3,068 $2,857 $3,348 Debt US$
Change -6.89% 17.19% 5.15% <-Median-> 2 Change US$
Long Term Debt CDN$ $3,388 $3,623 $4,496 Debt CDN$
Change 6.93% 24.10% 15.51% <-Median-> 2 Change CDN$
Ratio to Market Cap 0.13 0.12 0.13 0.13 <-Median-> 3 % of Market C. CDN$
Goodwill and Intangibles US$ $1,915.7 $1,912.2 $2,440.5 $2,482.9 $3,046.5 Intangibles & Goodwill US$
Change -0.18% 27.63% 1.74% 22.70% 12.22% <-Median-> 4 Change US$
Goodwill and Intangibles CDN$ $1,942.4 $2,109.7 $2,694.8 $3,148.3 $4,090.5 Intangibles & Goodwill CDN$
Change 8.62% 27.73% 16.83% 29.93% 22.28% <-Median-> 4 Change CDN$
Ratio to Market Cap 0.17 0.12 0.10 0.10 0.11 0.11 <-Median-> 5 % of Market C. CDN$
Market Cap US$ $4,564 $4,261 $2,603 $1,897 $3,366 $4,885 $7,655 $11,367 $16,016 $21,713 $24,718 $26,160 $27,394 $27,394 $27,394 513.92% <-Total Growth 10 Market Cap  US$
Market Cap CDN$ $5,174 $4,795 $2,746 $2,449 $3,330 $4,698 $7,672 $11,207 $17,340 $26,201 $31,052 $35,687 $33,959 $33,959 $33,561 644.21% <-Total Growth 10 Market Cap CDN$
pre-split '02
pre-split '03
pre-split '05
pre-split '14 207.66 208.21 206.48 197.47 188.74 188.21 183.59
Diluted # of Shares in Million 622.99 624.62 619.43 592.40 566.23 564.64 550.78 560.57 568.14 568.71 569.20 569.29 569.29 -8.86% <-Total Growth 10 Diluted
Change 0.63% 0.26% -0.83% -4.36% -4.42% -0.28% -2.46% 1.78% 1.35% 0.10% 0.09% 0.02% 0.00% -0.13% <-Median-> 10 Change
pre-split '02
pre-split '03
pre-split '05
pre-split '14 202.03 202.12 201.49 193.60 184.24 184.64 180.42 185.03
Basic # of Shares in Millions 606.09 606.36 604.47 580.80 552.72 553.92 541.26 555.09 564.51 566.01 567.43 567.86 567.86 -6.35% <-Total Growth 10 Average
Change 0.34% 0.04% -0.31% -3.92% -4.83% 0.22% -2.29% 2.56% 1.70% 0.27% 0.25% 0.08% 0.00% 0.15% <-Median-> 10 Change
Difference 0.0% 0.1% -2.4% -3.1% -0.3% -0.6% -0.8% 1.4% 0.2% 0.2% -0.5% 0.1% 0.1% -0.41% <-Median-> 10 Difference
$1,901 <-12 mths 0.69%
Class A Multiple Voting
Class B Subordinate Voting
pre-split '02
Class A Multiple Voting
Class B Subordinate Voting
pre-split '03
Class A Multiple Voting
Class B Subordinate Voting
pre-split '05
Class A Multiple Voting 56.39 56.18 53.88 53.71 53.71 53.69 53.69 49.37
Class B Subordinate Voting 145.65 146.16 142.85 133.92 129.94 129.90 125.37 138.20
pre-split '14 202.04 202.33 196.73 187.63 183.65 183.59 179.05 187.57
Class A Multiple Voting 169.17 168.53 161.64 161.13 161.12 161.08 161.06 148.10 148.10 148.10 147.77 147.77 147.77 147.77 147.77 -12.32% <-Total Growth Class A Multiple Voting
Class B Subordinate Voting 436.95 438.48 428.54 401.75 389.83 389.70 376.10 414.61 417.65 419.26 416.82 420.68 420.68 420.68 420.68 -4.06% <-Total Growth Class B Subordinate Voting
# of Shares in Millions 606.12 607.00 590.18 562.88 550.95 550.78 537.16 562.71 565.75 567.36 564.59 568.45 568.45 568.45 568.45 -0.65% <-IRR #YR-> 10 Shares -6.35%
Change -0.95% 0.15% -2.77% -4.63% -2.12% -0.03% -2.47% 4.76% 0.54% 0.29% -0.49% 0.68% 0.00% 0.00% 0.00% 1.14% <-IRR #YR-> 5 Shares 5.83%
CF fr Op $M US$ $401.50 $403.00 $359.80 $502.80 $490.80 $618.90 $763.80 $1,161.4 $1,429.3 $1,714.5 $1,887.9 $1,925.5 $2,768.4 $2,535.3 $2,370.4 377.79% <-Total Growth 10 Cash Flow US$
Increase 22.57% 0.37% -10.72% 39.74% -2.39% 26.10% 23.41% 52.06% 23.07% 19.95% 10.11% 1.99% 43.77% -8.42% -6.50% SO, S. Iss Buy Backs Conv A to B s.
5 year Running Average $221.7 $292.3 $344.5 $398.9 $431.6 $475.1 $547.2 $707.5 $892.8 $1,137.6 $1,391.4 $1,623.7 $1,945.1 $2,166.3 $2,297.5 455.50% <-Total Growth 10 CF 5 Yr Running US$
CFPS US$ $0.66 $0.66 $0.61 $0.89 $0.89 $1.12 $1.42 $2.06 $2.53 $3.02 $3.34 $3.39 $4.87 $4.46 $4.17 410.20% <-Total Growth 10 Cash Flow per Share US$
Increase 23.74% 0.23% -8.17% 46.52% -0.27% 26.14% 26.54% 45.15% 22.41% 19.61% 10.65% 1.30% 43.77% -8.42% -6.50% 16.93% <-IRR #YR-> 10 Cash Flow 377.79% US$
5 year Running Average $0.38 $0.49 $0.57 $0.67 $0.74 $0.84 $0.99 $1.28 $1.61 $2.03 $2.48 $2.87 $3.43 $3.82 $4.05 20.31% <-IRR #YR-> 5 Cash Flow 152.09% US$
P/CF on Med Price 17.70% <-IRR #YR-> 10 Cash Flow per Share 410.20% US$
P/CF on Closing Price 11.37 10.57 7.23 3.77 6.86 7.89 10.02 9.79 11.21 12.66 13.09 13.59 9.90 10.80 11.56 18.96% <-IRR #YR-> 5 Cash Flow per Share 138.22% US$
-0.09% Diff M/C 19.35% <-IRR #YR-> 10 CFPS 5 yr Running 486.58% US$
Excl.Working Capital CF -$57.20 -$30.70 $36.90 -$30.00 $44.90 $8.70 -$84.70 -$68.9 -$114.6 -$351.6 -$89.6 -$16.3 $0.0 $0.0 $0.0 23.76% <-IRR #YR-> 5 CFPS 5 yr Running 190.39% US$
CF fr Op $M WC US$ $344.3 $372.3 $396.7 $472.8 $535.7 $627.6 $679.1 $1,092.5 $1,314.7 $1,362.9 $1,798.3 $1,909.2 $2,768.4 $2,535.3 $2,370.4 412.81% <-Total Growth 10 Cash Flow less WC US$
Increase 5.10% 8.13% 6.55% 19.18% 13.30% 17.16% 8.21% 60.87% 20.34% 3.67% 31.95% 6.17% 45.00% -8.42% -6.50% 17.76% <-IRR #YR-> 10 Cash Flow less WC 412.81% US$
5 year Running Average $186.5 $248.6 $311.0 $382.7 $424.4 $481.0 $542.4 $681.5 $849.9 $1,015.4 $1,249.5 $1,495.5 $1,830.7 $2,074.8 $2,276.3 22.97% <-IRR #YR-> 5 Cash Flow less WC 181.14% US$
CFPS Excl. WC US$ $0.57 $0.61 $0.67 $0.84 $0.97 $1.14 $1.26 $1.94 $2.32 $2.40 $3.19 $3.36 $4.87 $4.46 $4.17 19.66% <-IRR #YR-> 10 CF less WC 5 Yr Run 501.65% US$
Increase 6.11% 7.97% 9.59% 24.96% 15.76% 17.19% 10.95% 53.57% 19.69% 3.37% 32.59% 5.45% 45.00% -8.42% -6.50% 22.49% <-IRR #YR-> 5 CF less WC 5 Yr Run 175.73% US$
5 year Running Average $0.32 $0.42 $0.52 $0.65 $0.73 $0.85 $0.98 $1.23 $1.53 $1.81 $2.22 $2.64 $3.23 $3.66 $4.01 18.53% <-IRR #YR-> 10 CFPS - Less WC 447.59% US$
P/CF on Med Price 21.58% <-IRR #YR-> 5 CFPS - Less WC 165.66% US$
P/CF on Closing Price 13.26 11.45 6.56 4.01 6.28 7.78 11.27 10.40 12.18 15.93 13.75 13.70 9.90 10.80 11.56 20.33% <-IRR #YR-> 10 CFPS 5 yr Running 536.45% US$
CF/-WC P/CF close 10 yr 9.90 5 yr  12.66 P/CF Cl 10 yr 10.84 5 yr  13.70 -8.70% Diff M/C 22.00% <-IRR #YR-> 5 CFPS 5 yr Running 170.27% US$
$2,552 <-12 mths 6.63%
CF fr Op $M CDN$ $449.80 $446.04 $363.11 $597.90 $493.16 $590.49 $749.02 $1,177.6 $1,576.9 $1,893.2 $2,393.9 $2,585.4 $3,430.0 $3,141.2 $2,937.0 479.63% <-Total Growth 10 Cash Flow CDN$
Increase 11.25% -0.84% -18.59% 64.66% -17.52% 19.74% 26.85% 57.21% 33.92% 20.05% 26.45% 8.00% 32.67% -8.42% -6.50% SO, S. Iss Buy Backs Conv A to B s.
5 year Running Average $277.6 $351.1 $395.5 $452.2 $470.0 $498.1 $558.7 $721.6 $917.4 $1,197.4 $1,558.1 $1,925.4 $2,375.9 $2,688.7 $2,897.5 448.33% <-Total Growth 10 CF 5 Yr Running CDN$
CFPS CDN$ $0.74 $0.73 $0.62 $1.06 $0.90 $1.07 $1.39 $2.09 $2.79 $3.34 $4.24 $4.55 $6.03 $5.53 $5.17 518.94% <-Total Growth 10 Cash Flow per Share CDN$
Increase 12.32% -0.98% -16.27% 72.65% -15.73% 19.77% 30.06% 50.08% 33.20% 19.71% 27.07% 7.27% 32.67% -8.42% -6.50% 19.21% <-IRR #YR-> 10 Cash Flow 479.63% CDN$
5 year Running Average $0.47 $0.59 $0.66 $0.76 $0.81 $0.88 $1.01 $1.30 $1.65 $2.14 $2.77 $3.40 $4.19 $4.74 $5.10 28.12% <-IRR #YR-> 5 Cash Flow 245.17% CDN$
P/CF on Med Price 9.74 11.43 10.10 4.13 6.44 7.01 8.13 7.91 9.02 11.97 12.84 13.27 10.27 20.00% <-IRR #YR-> 10 Cash Flow per Share 518.94% CDN$
P/CF on Closing Price 11.50 10.75 7.56 4.10 6.75 7.96 10.24 9.52 11.00 13.84 12.97 13.80 9.90 10.81 11.43 26.67% <-IRR #YR-> 5 Cash Flow per Share 226.17% CDN$
15.41% Diff M/C 19.16% <-IRR #YR-> 10 CFPS 5 yr Running 477.20% CDN$
Excl.Working Capital CF -$64.08 -$33.98 $37.24 -$35.67 $45.12 $8.30 -$83.06 -$69.9 -$126.4 -$388.2 -$113.6 -$21.9 $0.0 $0.0 $0.0 27.54% <-IRR #YR-> 5 CFPS 5 yr Running 237.46% CDN$
CF fr Op $M WC CDN$ $385.72 $412.06 $400.35 $562.23 $538.28 $598.79 $666.0 $1,107.7 $1,450.5 $1,504.9 $2,280.2 $2,563.5 $3,430.0 $3,141.2 $2,937.0 522.11% <-Total Growth 10 Cash Flow less WC CDN$
Increase 11.54% 6.83% -2.84% 40.43% -4.26% 11.24% 11.22% 66.33% 30.95% 3.75% 51.52% 12.42% 33.80% -8.42% -6.50% 20.06% <-IRR #YR-> 10 Cash Flow less WC 522.11% CDN$
5 year Running Average $221.0 $284.0 $339.9 $421.2 $459.7 $502.3 $553.1 $694.6 $872.2 $1,065.6 $1,401.9 $1,781.4 $2,245.8 $2,584.0 $2,870.4 30.94% <-IRR #YR-> 5 Cash Flow less WC 284.93% CDN$
CFPS Excl. WC CDN$ $0.64 $0.68 $0.68 $1.00 $0.98 $1.09 $1.24 $1.97 $2.56 $2.65 $4.04 $4.51 $6.03 $5.53 $5.17 20.15% <-IRR #YR-> 10 CF less WC 5 Yr Run 527.19% CDN$
Increase 12.61% 6.67% -0.07% 47.25% -2.19% 11.28% 14.04% 58.78% 30.24% 3.46% 52.26% 11.66% 33.80% -8.42% -6.50% 26.35% <-IRR #YR-> 5 CF less WC 5 Yr Run 222.06% CDN$
5 year Running Average $0.38 $0.48 $0.56 $0.71 $0.79 $0.88 $1.00 $1.25 $1.57 $1.90 $2.49 $3.15 $3.96 $4.55 $5.05 20.85% <-IRR #YR-> 10 CFPS - Less WC 564.31% CDN$
P/CF on Med Price 11.36 12.37 9.16 4.39 5.90 6.92 9.15 8.41 9.81 15.06 13.48 13.38 29.47% <-IRR #YR-> 5 CFPS - Less WC 263.74% CDN$
P/CF on Closing Price 13.41 11.64 6.86 4.36 6.19 7.85 11.52 10.12 11.95 17.41 13.62 13.92 9.90 10.81 11.43 20.78% <-IRR #YR-> 10 CFPS 5 yr Running 560.76% CDN$
*Operational Cash Flow per share CF/-WC P/CF Med 10 yr 8.58 5 yr  11.97 P/CF Med 10 yr 9.16 5 yr  13.38 8.14% Diff M/C 25.86% <-IRR #YR-> 5 CFPS 5 yr Running 215.86% CDN$
OPM 3.95% 3.33% 2.34% 3.19% 2.99% 3.26% 3.32% 3.27% 3.77% 4.97% 5.53% 5.08% 52.36% <-Total Growth 10 OPM CDN$
Increase -0.12% -15.65% -29.79% 36.10% -6.30% 9.30% 1.78% -1.62% 15.24% 31.86% 11.36% -8.13% Should increase  or be stable. CDN$
Diff from Median 20.0% 1.2% -28.9% -3.3% -9.4% -0.9% 0.8% -0.8% 14.3% 50.7% 67.8% 54.2% 0.00 <-Median-> 10 OPM CDN$
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 3.29% 5 Yrs 4.97% should be  zero, it is a   check on calculations CDN$
Current Assets US$ $863.00 $759.00 $945.20 $844.50 $1,031.10 $1,289.00 $1,337.40 $3,281.3 $3,214.9 $2,707.1 $2,934.8 $3,173.6 Liquidity ratio of 1.5 and up, best US$
Current Liabilities $689.90 $787.50 $862.50 $789.00 $882.90 $1,020.30 $1,566.80 $3,138.4 $2,662.8 $2,415.0 $2,705.5 $3,250.8 1.09 <-Median-> 10 Ratio US$
Liquidity 1.25 0.96 1.10 1.07 1.17 1.26 0.85 1.05 1.21 1.12 1.08 0.98 1.08 <-Median-> 5 Ratio US$
Assets US$ $2,369.30 $3,043.20 $3,320.6 $3,255.9 $3,696.7 $3,999.6 $4,453.2 $10,546.2 $10,545.0 $10,837.8 $12,303.9 $14,171.2 Debt Ratio of 1.5 and up, best US$
Liabilities $1,403.20 $1,897.80 $2,066.9 $1,929.9 $2,082.4 $2,063.5 $2,278.6 $7,329.5 $6,568.4 $6,931.3 $7,260.3 $8,161.6 1.69 <-Median-> 10 Ratio US$
Debt Ratio 1.69 1.60 1.61 1.69 1.78 1.94 1.95 1.44 1.61 1.56 1.69 1.74 1.61 <-Median-> 5 Ratio US$
Book Value US$ $966.10 $1,145.4 $1,253.7 $1,326.0 $1,614.3 $1,936.1 $2,174.6 $3,216.7 $3,976.6 $3,906.5 $5,043.6 $6,009.6 $6,009.6 $6,009.6 $6,009.6 424.67% <-Total Growth 10 Book Value US$
Non-Control Int $14.2 $13.9 $0.0 $0.0 $0.0 $0.0 $0.0 US$
Net Book Value $966.1 $1,145.4 $1,253.7 $1,326.0 $1,614.3 $1,936.1 $2,174.6 $3,216.7 $3,962.4 $3,892.6 $5,043.6 $6,009.6 $6,009.6 $6,009.6 $6,009.6 424.67% <-Total Growth 10 Book Value US$
Book Value per share $1.59 $1.89 $2.12 $2.36 $2.93 $3.52 $4.05 $5.72 $7.00 $6.86 $8.93 $10.57 $10.57 $10.57 $10.57 460.26% <-Total Growth 10 Book Value per Share US$
Increase 31.64% 18.39% 12.58% 10.90% 24.38% 19.97% 15.17% 41.21% 22.52% -2.04% 30.21% 18.34% 0.00% 0.00% 0.00% 29.25% P/B Ratio Current/10 Yr Med US$
P/B Ratio (Median) 3.52 P/B Ratio Cl Historical Median US$
P/B Ratio (Close) 4.72 3.72 2.08 1.43 2.09 2.52 3.52 3.53 4.04 5.58 4.90 4.35 4.56 18.81% <-IRR #YR-> 10 Book Value 460.26% US$
Change 25.99% -21.25% -44.20% -31.09% 45.77% 21.01% 39.50% 0.39% 14.39% 38.00% -12.14% -11.18% 21.16% <-IRR #YR-> 5 Book Value 161.14% US$
Leverage (A/BK) 2.45 2.66 2.65 2.46 2.29 2.07 2.05 3.28 2.66 2.78 2.44 2.36 2.45 <-Median-> 10 A/BV US$
Debt/Equity Ratio 1.45 1.66 1.65 1.46 1.29 1.07 1.05 2.28 1.66 1.78 1.44 1.36 1.45 <-Median-> 10 Debt/Eq Ratio US$
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Cl 3.53 5 yr Cl 4.35 29.25% Diff M/C 2.46 Historical A/BV US$
-$1.89 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $10.57
-$4.05 $0.00 $0.00 $0.00 $0.00 $10.57
Current Assets CDN$ $966.82 $840.06 $953.90 $1,004.2 $1,036.1 $1,229.8 $1,311.5 $3,327.0 $3,547.0 $2,989.2 $3,721.3 $4,261.2 Liquidity ratio of 1.5 and up, best CDN$
Current Liabilities $772.89 $871.61 $870.44 $938.2 $887.1 $973.5 $1,536.5 $3,182.1 $2,937.9 $2,666.6 $3,430.6 $4,364.8 1.09 <-Median-> 10 Ratio CDN$
Liquidity 1.25 0.96 1.10 1.07 1.17 1.26 0.85 1.05 1.21 1.12 1.08 0.98 1.08 <-Median-> 5 Ratio CDN$
Liq. with CF aft div 1.83 1.45 1.48 1.68 1.69 1.84 1.31 1.40 1.72 1.79 1.74 1.52 1.72 <-Median-> 5 Ratio CDN$
Liq. CF re  Inv+Div  1.26 0.67 1.25 1.40 1.23 1.49 0.91 0.69 1.41 1.14 1.21 0.88 1.14 <-Median-> 5 Ratio CDN$
Assets CDN$ $2,654.33 $3,368.21 $3,351.1 $3,871.8 $3,714.5 $3,816.0 $4,367.0 $10,693.0 $11,634.3 $11,967.1 $15,601.3 $19,027.7 Debt Ratio of 1.5 and up, best CDN$
Liabilities $1,572.00 $2,100.49 $2,085.9 $2,294.9 $2,092.4 $1,968.8 $2,234.5 $7,431.6 $7,246.9 $7,653.5 $9,206.1 $10,958.6 1.69 <-Median-> 10 Ratio CDN$
Debt Ratio 1.69 1.60 1.61 1.69 1.78 1.94 1.95 1.44 1.61 1.56 1.69 1.74 1.61 <-Median-> 5 Ratio CDN$
Check on BV $6,395.3 $8,069.1
Book Value CDN$ $1,082.32 $1,267.7 $1,265.2 $1,576.8 $1,622.1 $1,847.2 $2,132.5 $3,261.5 $4,387.4 $4,313.6 $6,395.3 $8,069.1 $8,069.1 $8,069.1 $8,069.1 536.50% <-Total Growth 10 Book Value CDN$
Non-Control Int $15.7 $15.3 $0.0 $0.0 $0.0 $0.0 $0.0
Net Book Value $1,082.3 $1,267.7 $1,265.2 $1,576.8 $1,622.1 $1,847.2 $2,132.5 $3,261.5 $4,371.7 $4,298.2 $6,395.3 $8,069.1 $8,069.1 $8,069.1 $8,069.1 536.50% <-Total Growth 10 Book Value CDN$
Book Value per share $1.79 $2.09 $2.14 $2.80 $2.94 $3.35 $3.97 $5.80 $7.73 $7.58 $11.33 $14.19 $14.19 $14.19 $14.19 579.67% <-Total Growth 10 Book Value per Share CDN$
Increase 19.49% 16.96% 2.65% 30.67% 5.10% 13.92% 18.37% 46.00% 33.32% -1.96% 49.52% 25.32% 0.00% 0.00% 0.00% 46.23% P/B Ratio Current/10 Yr Med CDN$
P/B Ratio (Median) 4.05 4.02 2.90 1.57 1.96 2.24 2.86 2.86 3.26 5.27 4.81 4.25 2.67 P/B Ratio Historical Median
P/B Ratio (Close) 4.78 3.78 2.17 1.55 2.05 2.54 3.60 3.44 3.97 6.10 4.86 4.42 4.21 4.21 4.16 21.12% <-IRR #YR-> 10 Book Value 579.67% CDN$
Change 27.04% -20.88% -42.62% -28.46% 32.19% 23.90% 41.46% -4.49% 15.43% 53.68% -20.35% -8.91% -4.84% 0.00% -1.17% 29.02% <-IRR #YR-> 5 Book Value 257.55% CDN$
Leverage (A/BK) 2.45 2.66 2.65 2.46 2.29 2.07 2.05 3.28 2.65 2.78 2.44 2.36 2.45 <-Median-> 10 A/BV CDN$
Debt/Equity Ratio 1.45 1.66 1.65 1.46 1.29 1.07 1.05 2.28 1.66 1.78 1.44 1.36 1.45 <-Median-> 10 Debt/Eq Ratio CDN$
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Med 2.88 5 yr Med 4.25 46.23% Diff M/C 2.45 Historical A/BV
-$2.09 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $14.19
-$3.97 $0.00 $0.00 $0.00 $0.00 $14.19
$1,188 <-12 mths -4.14%
Total Comprehensive Income US$ $812.30 $8.00 $1,239.1 $1,104.0
Non-Control Int $1.00 $0.70 $0.2 $0.0
Shareholders $205.40 $186.20 $365.30 $410.80 $426.50 $741.80 $811.30 $7.30 $1,238.9 $1,104.0 437.49% <-Total Growth 9 Comprehensive Income US$
Increase -9.35% 96.19% 12.46% 3.82% 73.93% 9.37% -99.10% 16871.23% -10.89% 9.4% <-Median-> 5 Comprehensive Income US$
5 Yr Running Average $318.8 $426.1 $551.1 $479.5 $645.2 $780.7 20.55% <-IRR #YR-> 9 Comprehensive Income #DIV/0! US$
ROE US$ 16.4% 14.0% 22.6% 21.2% 19.6% 23.1% 20.4% 0.2% 24.6% 18.4% 20.95% <-IRR #YR-> 5 Comprehensive Income 158.85% US$
5Yr Median 19.6% 21.2% 21.2% 20.4% 20.4% 20.4% 19.61% <-IRR #YR-> 5 5 Yr Running Average #DIV/0! US$
% Difference from NI 8.5% -26.7% 20.6% 11.0% -6.8% 29.5% -0.3% -99.2% 3.8% -8.7% 19.61% <-IRR #YR-> 5 5 Yr Running Average 144.84% US$
Median Values Diff 5, 10 yr 1.7% -0.3% 20.4% <-Median-> 5 Return on Equity US$
-$205.4 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $1,104.0
-$426.5 $0.0 $0.0 $0.0 $0.0 $1,104.0
-$318.8 $0.0 $0.0 $0.0 $0.0 $780.7
-$318.8 $0.0 $0.0 $0.0 $0.0 $780.7
Current Liability Coverage Ratio US$ 0.50 0.47 0.46 0.60 0.61 0.62 0.43 0.35 0.49 0.56 0.66 0.59   CFO / Current Liabilities US$
5 year Median 0.45 0.47 0.47 0.50 0.50 0.60 0.60 0.60 0.49 0.49 0.49 0.56 0.56 <-Median-> 5 Current Liability Cov Ratio US$
Asset Efficiency Ratio US$ 14.53% 12.23% 11.95% 14.52% 14.49% 15.69% 15.25% 10.36% 12.47% 12.58% 14.62% 13.47% CFO / Total Assets US$
5 year Median 12.34% 12.23% 12.23% 14.52% 14.49% 14.49% 14.52% 14.52% 14.49% 12.58% 12.58% 12.58% 12.6% <-Median-> 5 Return on Assets  US$
Return on Assets ROA US$ 8.3% 6.5% 5.7% 7.8% 8.2% 9.3% 10.3% 5.4% 7.7% 8.6% 9.7% 8.5% Net  Income/Assets Return on Assets US$
5Yr Median 8.2% 7.4% 6.5% 7.8% 7.8% 7.8% 8.2% 8.2% 8.2% 8.6% 8.6% 8.5% 8.5% <-Median-> 5 Asset Efficiency Ratio US$
Return on Equity ROE US$ 20.3% 17.1% 15.1% 19.1% 18.8% 19.1% 21.0% 17.8% 20.5% 24.0% 23.7% 20.1% Net Inc/ Shareholders' equity Return on Equity US$
5Yr Median 17.9% 17.9% 17.1% 19.1% 18.8% 18.8% 19.1% 19.1% 19.1% 20.5% 21.0% 20.5% 20.5% <-Median-> 5 Return on Equity US$
$1,220 <-12 mths 2.25%
Net Income US$ $812.2 $933.5 $1,193.7 $1,208.9 $1,602 $1,921
Non-Control Int $1.0 $0.7 $0.2 $0.0 $0.0 $0.0
Shareholders $196.20 $196.40 $189.30 $253.90 $302.90 $370.10 $457.60 $572.8 $811.20 $932.80 $1,193.50 $1,208.90 $1,602 $1,921 515.53% <-Total Growth 10 Net Income US$
Increase 21.38% 0.10% -3.62% 34.13% 19.30% 22.19% 23.64% 25.17% 41.62% 14.99% 27.95% 1.29% 32.52% 19.91% EPS/CF Ratio should not be higher than 1.00 US$
5 Yr Running Average $102.8 $133.6 $160.4 $199.5 $227.7 $262.5 $314.8 $391.5 $502.9 $628.9 $793.6 $943.8 $1,149.7 $1,371.6 19.93% <-IRR #YR-> 10 Net Income 515.53% US$
Operating Cash Flow $401.50 $403.00 $359.80 $502.80 $490.80 $618.90 $763.80 $1,161.4 $1,429.3 $1,714.5 $1,887.9 $1,925.5 21.45% <-IRR #YR-> 5 Net Income 164.18% US$
Investment Cash Flow -$316.80 -$920.20 -$160.40 -$160.40 -$333.50 -$235.90 -$694.80 -$3,186.5 -$598.0 -$1,398.8 -$1,181.3 -$2,387.5 21.59% <-IRR #YR-> 10 5 Yr Running Average 606.35% US$
Total Accruals $111.50 $713.60 -$10.10 -$88.50 $145.60 -$12.90 $388.60 $2,597.9 -$20.1 $617.1 $486.9 $1,670.9 24.56% <-IRR #YR-> 5 5 Yr Running Average 199.86% US$
Total Assets $2,369.30 $3,043.20 $3,320.60 $3,255.90 $3,696.70 $3,999.60 $4,453.20 $10,546.2 $10,545.0 $10,837.8 $12,303.9 $14,171.2 Balance Sheet Assets US$
Accruals Ratio 4.71% 23.45% -0.30% -2.72% 3.94% -0.32% 8.73% 24.63% -0.19% 5.69% 3.96% 11.79% 5.69% <-Median-> 5 Ratio US$
EPS/CF Ratio 0.55 0.51 0.46 0.51 0.55 0.57 0.66 0.53 0.62 0.68 0.66 0.63 0.59 <-Median-> 10 EPS/CF Ratio CDN$
-$196.4 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $1,208.9
-$457.6 $0.0 $0.0 $0.0 $0.0 $1,208.9
-$133.6 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $943.8
-$314.8 $0.0 $0.0 $0.0 $0.0 $943.8
Financial Cash Flow -$15.40 $327.40 -$136.50 -$136.50 -$123.20 -$290.40 -$74.60 $2,363.1 -$986.3 -$141.5 -$702.6 $498.4 C F Statement  Financial Cash Flow US$
Total Accruals $126.90 $386.20 $126.40 $48.00 $268.80 $277.50 $463.20 $234.8 $966.2 $758.6 $1,189.5 $1,172.5 Accruals US$
Accruals Ratio 5.36% 12.69% 3.81% 1.47% 7.27% 6.94% 10.40% 2.23% 9.16% 7.00% 9.67% 8.27% 8.27% <-Median-> 5 Ratio US$
$1,595 <-12 mths 1.51%
Total Comprehensive Income CDN$ $896.21 $8.83 $1,571.2 $1,482.3
Non-Control Int $1.10 $0.77 $0.3 $0.0
Shareholders $207.29 $221.42 $367.06 $391.94 $418.25 $752.13 $895.11 $8.06 $1,570.9 $1,482.3 615.11% <-Total Growth 9 Comprehensive Income CDN$
Increase 6.82% 65.77% 6.78% 6.71% 79.83% 19.01% -99.10% 19388.79% -5.64% 19.0% <-Median-> 5 Comprehensive Income CDN$
5 Yr Running Average $321.2 $430.2 $564.9 $493.1 $728.9 $941.7 24.43% <-IRR #YR-> 9 Comprehensive Income #DIV/0! CDN$
ROE CDN$ 16.4% 14.0% 22.6% 21.2% 19.6% 23.1% 20.4% 0.2% 24.6% 18.4% 28.80% <-IRR #YR-> 5 Comprehensive Income 254.42% CDN$
5Yr Median 19.6% 21.2% 21.2% 20.4% 20.4% 20.4% 24.00% <-IRR #YR-> 5 5 Yr Running Average #DIV/0! CDN$
% Difference from NI 8.5% -26.7% 20.6% 11.0% -6.8% 29.5% -0.3% -99.2% 3.8% -8.7% 24.00% <-IRR #YR-> 5 5 Yr Running Average 193.19% CDN$
Median Values Diff 5, 10 yr 1.7% -0.3% 20.4% <-Median-> 5 Return on Equity CDN$
-$207.3 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $1,482.3
-$418.2 $0.0 $0.0 $0.0 $0.0 $1,482.3
-$321.2 $0.0 $0.0 $0.0 $0.0 $941.7
-$321.2 $0.0 $0.0 $0.0 $0.0 $941.7
Current Liability Coverage Ratio CDN$ 0.50 0.47 0.46 0.60 0.61 0.62 0.43 0.35 0.49 0.56 0.66 0.59   CFO / Current Liabilities CDN$
5 year Median 0.45 0.46 0.46 0.47 0.50 0.60 0.60 0.60 0.49 0.49 0.49 0.56 0.56 <-Median-> 5 Current Liability Cov Ratio CDN$
Asset Efficiency Ratio CDN$ 14.53% 12.23% 11.95% 14.52% 14.49% 15.69% 15.25% 10.36% 12.47% 12.58% 14.62% 13.47% CFO / Total Assets CDN$
5 year Median 12.34% 12.23% 12.23% 14.18% 14.49% 14.49% 14.52% 14.52% 14.49% 12.58% 12.58% 12.58% 12.6% <-Median-> 5 Return on Assets  CDN$
Return on Assets ROA CDN$ 8.3% 6.5% 5.7% 7.8% 8.2% 9.3% 10.3% 5.4% 7.7% 8.6% 9.7% 8.5% Net  Income/Assets Return on Assets CDN$
5Yr Median 8.2% 7.4% 6.5% 7.8% 7.8% 7.8% 8.2% 8.2% 8.2% 8.6% 8.6% 8.5% 8.5% <-Median-> 5 Asset Efficiency Ratio CDN$
Return on Equity ROE CDN$ 20.3% 17.1% 15.1% 19.1% 18.8% 19.1% 21.0% 17.8% 20.5% 24.0% 23.7% 20.1% Net Inc/ Shareholders' equity Return on Equity CDN$
5Yr Median 17.9% 17.9% 17.1% 19.1% 18.8% 18.8% 19.1% 19.1% 19.1% 20.5% 21.0% 20.5% 20.5% <-Median-> 5 Return on Equity CDN$
$1,638 <-12 mths 8.27%
Net Income CDN$ $896.1 $1,030.8 $1,513.6 $1,623.2 $1,984.9 $2,380.1
Non-Control Int $1.1 $0.8 $0.3 $0.0 $0.0 $0.0
Shareholders $219.80 $217.38 $191.04 $301.93 $304.36 $353.11 $448.75 $580.8 $895.0 $1,030.0 $1,513.4 $1,623.2 $1,984.9 $2,380.1 646.72% <-Total Growth 10 Net Income CDN$
Increase 10.18% -1.10% -12.11% 58.04% 0.81% 16.02% 27.08% 29.42% 54.10% 15.08% 46.93% 7.26% 22.28% 19.91% EPS/CF Ratio should not be higher than 1.00 CDN$
5 Yr Running Average $128.9 $159.1 $181.4 $225.9 $246.9 $273.6 $319.8 $397.8 $516.4 $661.5 $893.6 $1,128.5 $1,409.3 $1,706.3 22.27% <-IRR #YR-> 10 Net Income 646.72% CDN$
Operating Cash Flow $449.80 $446.04 $363.11 $597.90 $493.16 $590.49 $749.02 $1,177.6 $1,576.9 $1,893.2 $2,393.9 $2,585.4 29.32% <-IRR #YR-> 5 Net Income 261.72% CDN$
Investment Cash Flow -$354.91 -$1,018.48 -$161.88 -$190.74 -$335.10 -$225.07 -$681.36 -$3,230.9 -$659.8 -$1,544.6 -$1,497.9 -$3,205.7 21.64% <-IRR #YR-> 10 5 Yr Running Ave. 609.11% CDN$
Total Accruals $124.91 $789.81 -$10.19 -$105.24 $146.30 -$12.31 $381.08 $2,634.1 -$22.2 $681.4 $617.4 $2,243.5 28.68% <-IRR #YR-> 5 5 Yr Running Ave. 252.83% CDN$
Total Assets $2,654.33 $3,368.21 $3,351.15 $3,871.75 $3,714.48 $3,816.02 $4,367.03 $10,693.0 $11,634.3 $11,967.1 $15,601.3 $19,027.7 Balance Sheet Assets CDN$
Accruals Ratio 4.71% 23.45% -0.30% -2.72% 3.94% -0.32% 8.73% 24.63% -0.19% 5.69% 3.96% 11.79% 5.69% <-Median-> 5 Ratio CDN$
EPS/CF Ratio 0.55 0.51 0.46 0.51 0.55 0.57 0.66 0.53 0.62 0.68 0.66 0.63 0.59 <-Median-> 10 EPS/CF Ratio CDN$
-$217.4 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $1,623.2
-$448.7 $0.0 $0.0 $0.0 $0.0 $1,623.2
-$159.1 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $1,128.5
-$319.8 $0.0 $0.0 $0.0 $0.0 $1,128.5
Change in Close 51.81% -7.46% -41.10% -6.52% 38.93% 41.15% 67.45% 39.44% 53.89% 50.67% 19.10% 14.15% -4.84% 0.00% -1.17% Count 23 Years of data CDN$
up/down down Down Down down down Count 12 52.17% CDN$
Meet Prediction? Yes % right Count 3 25.00% CDN$
Financial Cash Flow -$17.25 $362.37 -$137.76 -$162.32 -$123.79 -$277.07 -$73.16 $2,396.0 -$1,088.2 -$156.2 -$890.9 $669.2 C F Statement  Financial CF CDN$
Total Accruals $142.17 $427.45 $127.56 $57.08 $270.09 $264.76 $454.24 $238.07 $1,066.01 $837.65 $1,508.29 $1,574.32 Accruals CDN$
Accruals Ratio 5.36% 12.69% 3.81% 1.47% 7.27% 6.94% 10.40% 2.23% 9.16% 7.00% 9.67% 8.27% 8.27% <-Median-> 5 Ratio CDN$
Cash US$ $325.25 $141.70 $216.00 $173.30 $220.90 $320.40 $304.30 $658.3 $511.1 $553.7 $599.4 $637.6 Cash US$
Cash CDN$ $364.38 $156.83 $217.99 $206.08 $221.96 $305.69 $298.41 $667.5 $563.9 $611.4 $760.0 $856.1 Cash CDN$
Cash Per Share CDN$ $0.60 $0.26 $0.37 $0.37 $0.40 $0.56 $0.56 $1.19 $1.00 $1.08 $1.35 $1.51 $1.19 <-Median-> 5 Cash per Share CDN$
Percentage of Stock Price 7.04% 3.27% 7.94% 8.42% 6.67% 6.51% 3.89% 5.96% 3.25% 2.33% 2.45% 2.40% 2.45% <-Median-> 5 % of Stock Price CDN$
Notes:
September 02, 2017.  Last estimates were for 2017, 2018 and 2019 of 39205M, $51163M and $50770M US$ for Revenue, $2.31. $2.80 and $2.93 US$ for EPS, 
$3.58, $4.21 and $4.19 US$ for CFPS amd $1303M and $1560M US$ for 2017 and 2018 for Net Income.
November 13, 2016.  Last estimates 2017, 2018 and 2019 gotten in September 2016 were $39026M, $50720M and $49.809M for Revenue, $2.33, $2.58 and $2.37 for EPS, 
$3.49, $4.03 and $3.64 for CFPS and $1303M and $1560M for Net Income for 2017 and 2018. 
Estimtes between November 2016 and September 2016 have changed slightly.  Exchange rate has changed a lot and by 3.66% from 1.299 to 1.3475.
The Stock price in CDN$ has changed from $68.26 to $63.38 down some 7.15%.  The Stock in US$ has changed from $52.50 to $46.87 and this is down 10.72%.
September 3, 2016.  Last estimates were for 2016, 2017 and 2018 of $38011M, $41290M and $45156M US$ for Revenue, $1.93, $2.25 and $1.98 US$ for EPS, 
$2.93, $3.29 and 3.47 US$ for CFPS, $1174M, $1349M and $1126M US$ for Net Income.
September 7, 2015.  Last estimates were for 2015, 2016 and 2017 of $39271M, $40053M and $42485M US$ for Revenue, $1.58, $1.76 and $1.67 EPS US$, 
$2.56, $2.76 and $2.72 CFPS US$, $907M, $1034M and $949.8M for Net Income US$.
August 23, 2014.  Last estimates were for 2014, 2015 and 2016 of $38801M, $39399M and $39589M US$ for Revenue, $1.26, 1.38 and $1.50 EPS US$, and $6.70 and 6.92 US$ for CFPS for 2014 and 2015.
July 29, 2013.  Last estimates were for 2013 and 2014 of $34486M and $36809M US$ and $3.21 and $3.82 US$ for EPS and $3.70 CPFS for 2013 US$.
Got statements from Morningstar as they are not yet on Alimentation's site.
August 11, 2012.  When Last I looked I got estimates for 2012 and 2013 of $21,777M and $22,814M US$ for Revenue and $2.17 and $2.40 US$ for EPS
August 6, 2011.  When last I looked, I got 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.
2007.  In March I wanted to raise some money as I was thinking of buying a condo. This did not happen and I bought some of this stock for Pension acct in June.
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 (10 votes per share except for certain situations) and Subordinate Voting Shares are ATD.B (1 vote per share).
The Corporation’s year-end is the last Sunday of April of each year
Sector:
Consumer Staple, Consumer
What should this stock accomplish?
Would I buy this company and Why.
Why am I following this stock. 
I did a spreadsheet on this stock as it had a good reputation and I wanted to check it out.  It does not pay dividends.
Dividends
Dividends are sort of paid in Cycle 3.  Dividends are paid in July or August, September, December and April. Generally cycle 3 dividends have a dividend in June, not July or August. 
Generally dividends are declared for shareholders of record of one month and paid in that month or early the next month.  For example, the dividend declared for shareholders of record on July 16, 2014 was paid on July 30, 2014.
Why I bought this stock.
In 2004 I bought this stock as it had a good reputation and my spreadsheet showed I should do well with it.  The only problem I had with it then was it had no dividend.  
I bought more of this stock in 2006 as it had a good past record and had started to pay a dividend.  I did not buy much mid-year as P/E was rather high.  By the year end I bought more as TD Bank said it was a good time to buy this stock.
I sold the stock in my trading account in 2007 as I was raising mortgage money and this stock had gone down so was cheap, tax wise, to sell. 
 In 2013, I sold the stock in my Pension account as it had the lowest dividend yield and I had to raise money in this account because of yearly withdrawals.
How they make their money.
Couche-Tard is the largest convenience store operator in North America with over 4,600 company-operated stores. In Europe, 
with over 1,600 company-operated sites, Couche-Tard is a leader in c-store and road transportation fuel in Scandinavian and the 
Baltic States, with a growing presence in Poland.
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.
Shares; '%, Value $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares are B when not
Date Aug 11 2012 Jul 30 2013 Aug 24 2014 Sep 7 2015 Sep 3 2016 Sep 2 2017 stated.
Hannasch, Brian Patrick 0.418 0.10% 0.418 0.10% 0.533 0.13% 0.446 0.11% Was an Officer, now CEO
CEO - Shares - Amount $19.289 $22.992 $33.464 $26.636
Options - percentage 1.021 0.24% 1.426 0.34% 1.437 0.34% 1.402 0.33%
Options - amount $47.160 $78.440 $90.227 $83.735
Tessier, Claude 0.000 0.00% 0.002 0.00%
CFO - Shares - Amount $0.000 $0.108
Options - percentage 0.095 0.02% 0.111 0.03%
Options - amount $5.951 $6.603
Paré, Raymond 0.050 0.01% 0.063 0.02% 0.051 0.01%
CFO - Shares - Amount $1.547 $2.916 $2.829
Options - percentage 0.131 0.03% 0.098 0.02% 0.052 0.01%
Options - amount $4.003 $4.509 $2.865
Bernier, Jean 0.002 0.00% 0.003 0.00% seems to have sold off
Officer - Shares - Amount $0.115 $0.158 shares in 2017
Options - percentage 0.163 0.04% 0.152 0.04%
Options - amount $8.950 $9.557
Aubry, Sylvain 0.005 0.00% 0.007 0.00% 0.007 0.00% 0.007 0.00% 0.007 0.00%
Officer - Shares - Amount $0.162 $0.313 $0.394 $0.465 $0.425
Options - percentage 0.002 0.00% 0.000 0.00% 0.000 0.00% 0.001 0.00% 0.002 0.00%
Options - amount $0.063 $0.022 $0.024 $0.050 $0.102
D'Amours, Jacques Class A 32.359 21.85% 32.359 21.85% 32.359 21.90% 32.021 21.67% 32.021 21.67% A
Director $991.813 $1,494.353 $1,779.762 $2,010.266 $1,912.923 A
Class B 0.000 0.00% 0.000 0.00% 0.150 0.04% 0.485 0.12% 0.150 0.04% B
Amount $0.000 $0.000 $8.250 $30.448 $8.961 B
Options - percentage 0.150 0.04% 0.150 0.04% 0.002 0.00% 0.004 0.00% 0.005 0.00%
Options - amount $4.598 $6.927 $0.096 $0.229 $0.295
Fortin, Richard Class A 16.394 11.07% 16.394 11.07% 16.394 11.09% 16.394 11.09% 16.394 11.09% A
Director $502.480 $757.081 $901.677 $1,029.223 $979.385 A
Class B 1.057 0.25% 3.138 0.75% 1.744 0.42% 1.444 0.34% 1.432 0.34% B
Amount $32.385 $144.913 $95.893 $90.623 $85.542 B
Options - percentage 1.059 0.25% 0.450 0.11% 0.165 0.04% 0.167 0.04% 0.019 0.00%
Options - amount $32.470 $20.781 $9.083 $10.491 $1.109
Plourde, Réal 6.671 4.50% 6.671 4.50% 6.671 4.51% 6.671 4.51% 6.671 4.51% A
Director $204.456 $308.050 $366.885 $418.783 $398.504 A
Class B 4.031 0.97% 4.625 1.10% 4.670 1.12% 4.670 1.11% 4.812 1.14% B
Amount $123.544 $213.573 $256.839 $293.170 $287.457 B
Options - percentage 1.050 0.25% 0.450 0.11% 0.152 0.04% 0.153 0.04% 0.005 0.00%
Options - amount $32.183 $20.781 $8.336 $9.635 $0.290
Bourque, Nathalie 0.043 0.01% 0.043 0.01% 0.043 0.01% 0.043 0.01% 0.043 0.01%
Director - Shares - Amount $1.308 $1.971 $2.348 $2.680 $2.550
Options - percentage 0.007 0.00% 0.011 0.00% 0.014 0.00% 0.016 0.00% 0.017 0.00%
Options - amount $0.216 $0.510 $0.751 $0.990 $1.037
Turmel, Jean 0.189 0.05% 0.189 0.05% 0.189 0.04% 0.189 0.04%
Director - Shares - Amount $8.728 $10.395 $11.865 $11.291
Options - percentage 0.090 0.02% 0.093 0.02% 0.096 0.02% 0.099 0.02%
Options - amount $4.149 $5.130 $6.047 $5.899
Bouchard, Alain Class A 57.676 38.94% 57.676 38.94% 57.676 39.03% 57.676 39.03% 57.676 39.03% A
Chairman $1,767.782 $2,663.497 $3,172.203 $3,620.926 $3,445.589 A
Class B 8.708 2.08% 8.888 2.12% 9.488 2.28% 9.488 2.26% 8.913 2.12% B
Amount $266.896 $410.443 $521.840 $595.657 $532.463 B
Options - percentage 2.477 0.59% 0.900 0.21% 0.578 0.14% 0.659 0.16% 0.329 0.08%
Options - amount $75.934 $41.562 $31.804 $41.371 $19.638
Metro 45.056 30.42% 32.227 21.76% 32.227 21.76% 32.227 21.81% 32.227 21.81% A reported in 2014, 2017
10% Holder ######## $987.759 $1,488.245 $1,772.487 $1,925.244 A Against all shares A
Class B 17.171 4.11%
10% Holder $526.291
Increase in O/S Shares 10.923 2.63% 3.035 0.73% 1.614 0.38% 0.226 0.15% 0.860 0.20%
due to SO $217.548 $93.037 $74.526 $12.428 $53.980
Book Value $2.700 $1.800 $9.800 $1.614 $6.500
Insider Buying -$0.240 -$0.182 -$0.258
Insider Selling $31.087 $0.844 $98.557
Net Insider Selling $4.126 $30.848 $0.662 $98.299
% of Market Cap 0.02% 0.10% 0.00% 0.29%
Directors 9 11 11 11 11
Women 2 22% 2 18% 2 18% 3 27% 3 27%
Minorities 0 0% 0 0% 0 0% 0 0% 0 0%
Institutions/Holdings 3 1.91% 9 4.85% 199 35.57% 5 6.82% 5 0.94%
Total Shares Held 3.081 0.54% 7.189 1.27% 148.548 26.18% 10.078 6.82% 1.393 0.94% Class A
Increase/Decrease 3 Mths 0.000 0.00% 1.405 24.29% -2.831 -1.87% 0.000 0.00% 0.000 0.00%
Starting No. of Shares 3.081 5.784 151.379 10.078 1.393
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