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.
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet. Estimates Estimates Estimates
See my website on stocks or see my blog at the following sites.  www.spbrunner.com/stocks.html www.spbrunner.blogspot.com/ Q1 2016
DirectCash Payments Inc. TSX: DCI OTC: DCTFF  www.directcash.net  Fiscal Yr: Dec 31
Year 12/31/04 12/31/05 12/31/06 12/31/07 12/31/08 12/31/09 12/31/10 12/31/11 12/31/12 12/31/13 12/31/14 12/31/15 12/31/16 12/31/17 12/31/18 Value Description #Y Item
Accounting Rules C GAAP IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS Accounting Rules
$286.4 <-12 mths 0.94%
Revenue* $36.2 $48.9 $73.9 $81.5 $88.8 $96.7 $112.0 $112.3 $192.1 $241.7 $277.1 $283.7 $292.0 $292.0 480.55% <-Total Growth 10 Revenue
Increase 34.96% 51.25% 10.23% 8.95% 8.94% 15.77% 0.34% 71.01% 25.78% 14.66% 2.39% 2.92% 0.00% 19.23% <-IRR #YR-> 10 Revenue
5 year Running Average $65.8 $77.9 $90.6 $98.3 $120.4 $151.0 $187.0 $221.4 $257.3 $277.3 20.44% <-IRR #YR-> 5 Revenue
Revenue per Share $3.63 $3.92 $5.93 $6.53 $7.12 $7.76 $8.10 $8.12 $11.55 $13.74 $15.75 $16.18 $16.65 $16.65 18.91% <-IRR #YR-> 7 5 yr Running Average
Increase 51.25% 10.23% 8.97% 8.94% 4.38% 0.34% 42.13% 18.99% 14.66% 2.71% 2.92% 0.00% 19.57% <-IRR #YR-> 5 5 yr Running Average
5 year Running Average $5.43 $6.25 $7.09 $7.53 $8.53 $9.85 $11.45 $13.07 $14.77 $15.80 15.24% <-IRR #YR-> 10 Revenue per Share
P/S (Price/Sales) Med 3.80 2.73 2.11 1.32 1.49 2.31 2.59 1.95 1.55 1.04 0.91 0.71 0.00 14.85% <-IRR #YR-> 5 Revenue per Share
P/S (Price/Sales) Close 3.60 2.56 1.87 1.04 2.06 2.75 2.46 2.02 1.33 1.23 0.77 0.80 0.80 13.38% <-IRR #YR-> 7 5 yr Running Average
*Revenue in M CDN $  P/S Med 10 yr  1.75 5 yr  1.55 -54.26% Diff M/C 13.02% <-IRR #YR-> 5 5 yr Running Average
-$48.9 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $283.7
-$112.0 $0.0 $0.0 $0.0 $0.0 $283.7
-$65.8 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $221.4
-$90.6 $0.0 $0.0 $0.0 $0.0 $221.4
-$3.92 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $16.18
-$8.10 $0.00 $0.00 $0.00 $0.00 $16.18
-$5.43 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $13.07
-$7.09 $0.00 $0.00 $0.00 $0.00 $13.07
FFO $25.7
Payout Ratio DI 90.0% 90.0% 88.5% 85.3% 72.8% #NUM! <-IRR #YR-> 0 Distri Inc
-$0.35 <-12 mths 16.67%
EPS Basic -$0.003 $0.10 $0.24 $0.05 $0.16 $1.20 $1.95 $1.48 $0.46 $0.00 $0.21 -$0.42 -520.00% <-Total Growth 10 EPS Basic
EPS Diluted* -$0.003 $0.10 $0.24 $0.05 $0.16 $1.20 $1.95 $1.47 $0.46 $0.00 $0.21 -$0.42 -$0.23 -$0.13 -520.00% <-Total Growth 10 EPS Diluted
Increase 140.00% -79.17% 220.00% 650.00% 62.50% -24.62% -68.71% -99.23% 5865.07% -300.00% -45.24% -43.48% #NUM! <-IRR #YR-> 10 Earnings per Share -520.00%
Earnings Yield 0.7% 1.6% 0.4% 2.2% 7.5% 8.8% 7.4% 2.0% 0.0% 1.1% -3.4% -1.7% -1.0% #NUM! <-IRR #YR-> 5 Earnings per Share -121.54%
5 year Running Average $0.11 $0.35 $0.72 $0.97 $1.05 $1.02 $0.82 $0.34 $0.00 -$0.11 17.81% <-IRR #YR-> 7 5 yr Running Average 214.94%
10 year Running Average $0.56 $0.58 $0.53 $0.49 $0.47 -13.70% <-IRR #YR-> 5 5 yr Running Average -52.12%
* Diluted ESP per share  E/P 10 Yrs 1.77% 5Yrs 1.08%
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 -$0.42
-$1.95 $0.00 $0.00 $0.00 $0.00 -$0.42
-$0.11 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.34
-$0.72 $0.00 $0.00 $0.00 $0.00 $0.34
Special Dividends $0.00 $0.00 $0.00 $0.00 $0.12 $0.10 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 <-Median-> 10 Special Dividends
Dividend* $0.98 $1.26 $1.38 $1.38 $1.38 $1.38 $1.38 $1.38 $1.38 $1.40 $1.44 $1.44 $1.44 $1.44 47.28% <-Total Growth 10 Dividends
Increase 28.36% 9.96% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.45% 2.86% 0.00% 0.00% 0.00% 0.00% <-Median-> 10 Increase
Dividends 5 Yr Running $1.30 $1.40 $1.42 $1.42 $1.42 $1.40 $1.40 $1.41 $1.42 $1.43 #DIV/0! <-Total Growth 6 Dividends 5 Yr Running
Yield H/L Price 6.57% 7.75% 10.00% 14.66% 11.93% 7.38% 6.57% 6.13% 6.46% 8.58% 9.75% 12.17% 8.17% <-Median-> 10 Yield H/L Price
Yield on High  Price 5.46% 6.99% 8.63% 11.19% 8.63% 6.00% 6.00% 5.48% 4.98% 7.19% 7.42% 10.79% 7.09% <-Median-> 10 Yield on High  Price
Yield on Low Price 8.25% 8.69% 11.90% 21.23% 19.35% 9.56% 7.26% 6.97% 9.20% 10.64% 14.20% 13.97% 10.10% <-Median-> 10 Yield on Low Price
Yield on Close Price 6.93% 8.26% 11.31% 18.65% 8.63% 6.20% 6.90% 5.90% 7.58% 7.20% 11.58% 10.79% 10.79% 10.79% 7.92% <-Median-> 10 Yield on Close Price
Payout Ratio EPS 522.92% 2760.00% 862.50% 125.00% 75.90% 93.88% 300.00% 39199.03% 666.67% -342.86% -626.09% -1107.69% #DIV/0! 411.46% <-Median-> 10 DPR EPS
DPR EPS 5 Yr Running 371.01% 194.31% 147.41% 135.88% 140.06% 171.49% 404.99% 29931.34% -1253.36% #DIV/0! 171.49% <-Median-> 7 DPR EPS 5 Yr Running
Payout Ratio CFPS 80.27% 74.04% 84.18% 68.61% 60.41% 59.46% 50.55% 48.43% 40.63% 41.22% 47.76% 37.80% 38.50% #DIV/0! 55.01% <-Median-> 10 DPR CF
DPR CF 5 Yr Running 71.77% 67.80% 62.72% 56.68% 51.05% 47.23% 45.36% 42.75% 40.90% #DIV/0! 56.68% <-Median-> 7 DPR CF 5 Yr Running
Payout Ratio CFPS WC 75.27% 73.86% 81.17% 73.01% 67.45% 63.42% 61.02% 41.13% 34.73% 37.45% 34.15% 37.80% 38.50% #DIV/0! 62.22% <-Median-> 10 DPR CF WC
DPR CF WC 5 Yr Running 73.68% 71.04% 68.40% 59.01% 50.32% 44.82% 39.78% 36.87% 36.45% #DIV/0! 59.01% <-Median-> 7 DPR CF WC 5 Yr Running
Median Values 5 Yr Med 5 Yr Cl 6.57% 7.20% 5 Yr Med Payout 300.00% 47.76% 37.45% 3.95% <-IRR #YR-> 10 Dividends
* Dividends per share  5 Yr Med and Cur. 64.30% 49.97% Last Div Inc ---> $0.115 $0.120 4.3% 0.85% <-IRR #YR-> 5 Dividends
-$0.98 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.44
-$1.38 $0.00 $0.00 $0.00 $0.00 $1.44
Historical Dividends Historical High Div 20.86% Low Div 5.08% Ave Div 12.97% Med Div 7.75% Close Div 7.58% Historical Dividends
High/Ave/Median Values Curr diff Exp. -48.25%     112.49% Exp. -16.77% Cheap 39.29% Cheap 42.44% High/Ave/Median 
Future Div Yield Div Yd 13.16% earning in 10.00 Years at IRR of 2.00% Div Inc. 21.90% Future Div Yield
Future Div Yield Div Yd 14.53% earning in 15.00 Years at IRR of 2.00% Div Inc. 34.59% Future Div Yield
Cost cover if held 5 years 47.03% 43.96% 51.61% 75.62% 60.70% 37.31% 33.52% 31.56% 33.54% $0.49 <-Median-> 6 Cost Covered by Dividends
Cost cover if held 10 years 93.95% 87.43% 103.08% 151.67% $0.94 <-Median-> 1 Cost Covered by Dividends
Cost cover if held 15 years #DIV/0! #NUM! <-Median-> 0 Cost Covered by Dividends
H/LYield held 5 yrs 9.28% 8.52% 10.00% 14.66% 12.11% 7.70% 6.86% 6.40% 6.74% 9.64% <-Median-> 6 Dividends
H/LYield held 10 yrs 9.68% 8.89% 10.44% 15.29% 9.68% <-Median-> 1 Dividends
H/LYield held 15 yrs #DIV/0! #NUM! <-Median-> 0 Dividends
Based on EPS 3 yrs trailing $3.97 $3.83 $4.00 $8.10 $12.49 $17.29 $13.88 $8.81 $4.63 #NUM!
Graham No. $3.91 $6.40 $2.65 $4.25 $11.32 $16.49 $14.42 $9.45 $0.72 $5.03 $4.48 $4.10 #NUM! #DIV/0! 14.42% <-Total Growth 10 Graham Price
Price/GP Ratio Med 3.80 2.53 5.20 2.21 1.02 1.13 1.46 2.38 29.49 3.24 3.30 2.88 2.46 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 4.57 2.81 6.03 2.90 1.41 1.39 1.60 2.67 38.26 3.87 4.33 3.26 2.85 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 3.03 2.26 4.38 1.53 0.63 0.88 1.32 2.10 20.72 2.62 2.26 2.51 2.18 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 3.60 2.38 4.60 1.74 1.41 1.35 1.39 2.47 25.15 3.87 2.78 3.25 #NUM! #DIV/0! 2.42 <-Median-> 10 Price/GP Ratio
Prem/Disc Close 260.17% 137.61% 360.26% 73.94% 41.38% 34.93% 38.74% 147.36% 2415.49% 286.69% 177.71% 225.32% #NUM! #DIV/0! 142.49% <-Median-> 10 Graham Price
Price Close $13.90 $14.10 $15.20 $12.20 $7.40 $16.00 $22.25 $20.00 $23.38 $18.21 $19.45 $12.44 $13.34 $13.34 $13.34 -11.77% <-Total Growth 10 Stock Price
Increase 1.44% 7.80% -19.74% -39.34% 116.22% 39.06% -10.11% 16.90% -22.11% 6.81% -36.04% 7.23% 0.00% 0.00% -1.24% <-IRR #YR-> 10 Stock Price
P/E 141.00 63.33 244.00 46.25 13.33 11.41 13.61 50.83 5172.57 92.62 -29.62 -58.00 -102.62 #DIV/0! -10.98% <-IRR #YR-> 5 Stock Price
Trailing P/E 152.00 50.83 148.00 100.00 18.54 10.26 15.90 39.59 5524.79 59.24 -31.76 -58.00 -102.62 9.09% <-IRR #YR-> 10 Price & Dividend
Median 10, 5 Yrs D.  per yr 10.34% 7.87% % Tot Ret 113.69% -253.60% Price Inc -10.11% P/E:  48.54 50.83 -3.10% <-IRR #YR-> 5 Price & Dividend
-$14.10 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $12.44
-$22.25 $0.00 $0.00 $0.00 $0.00 $12.44
-$14.10 $1.26 $1.38 $1.38 $1.50 $1.48 $1.38 $1.38 $1.38 $1.40 $13.88
-$22.25 $1.38 $1.38 $1.38 $1.40 $13.88
Price Median H/L $14.88 $16.20 $13.80 $9.42 $11.57 $18.71 $21.01 $22.50 $21.35 $16.31 $14.78 $11.83 -0.67% <-Total Growth 10 Stock Price
Increase 8.87% -14.82% -31.75% 22.84% 61.78% 12.27% 7.12% -5.11% -23.61% -9.41% -19.93% -0.07% <-IRR #YR-> 10 Stock Price
P/E 148.75 67.48 275.90 58.84 9.64 9.59 14.29 48.91 6064.49 77.67 -35.18 -51.43 -4.61% <-IRR #YR-> 5 Stock Price
Trailing P/E 161.95 57.48 188.30 72.28 15.59 10.77 15.31 46.41 4632.87 70.36 -28.17 9.46% <-IRR #YR-> 10 Price & Dividend
P/E on Running 5 yr Average 86.02 33.04 25.99 21.74 21.47 21.00 19.92 42.86 2514.83 3.59% <-IRR #YR-> 5 Price & Dividend
P/E on Running 10 yr Average 37.92 27.91 27.75 24.37 58.84 P/E Ratio Historical Median
Median 10, 5 Yrs D.  per yr 9.52% 8.20% % Tot Ret 100.71% 228.64% Price Inc -5.11% P/E:  53.88 48.91 Count 11 Years of data
-$14.88 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $14.78
-$18.71 $0.00 $0.00 $0.00 $0.00 $14.78
-$14.88 $1.38 $1.38 $1.38 $1.50 $1.48 $1.38 $1.38 $1.40 $1.44 $16.22
-$18.71 $1.38 $1.38 $1.39 $1.43 $16.22
High Months Aug Oct Jan Jan Dec Dec Mar Oct May Dec Jan May
Price High $17.90 $17.95 $15.99 $12.33 $16.00 $22.99 $23.01 $25.19 $27.70 $19.46 $19.41 $13.35 8.44% <-Total Growth 10 Stock Price
Increase 0.28% -10.92% -22.89% 29.76% 43.69% 0.09% 9.47% 9.96% -29.75% -0.26% -31.22% 0.81% <-IRR #YR-> 10 Stock Price
P/E 179.00 74.79 319.80 77.06 13.33 11.79 15.65 54.76 7868.21 92.67 -46.21 -58.04 -3.33% <-IRR #YR-> 5 Stock Price
Trailing P/E 179.50 66.63 246.60 100.00 19.16 11.80 17.14 60.22 5527.63 92.43 -31.79 74.79 P/E Ratio Historical Median
Median 10, 5 Yrs Price Inc 0.09% P/E:  64.78 54.76 263.48 P/E Ratio Historical High
-$17.90 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $19.41
-$22.99 $0.00 $0.00 $0.00 $0.00 $19.41
Low Months Nov Feb Nov Dec Mar Apr Nov  Jan Sep Apr Dec Feb
Price Low $11.85 $14.44 $11.60 $6.50 $7.13 $14.43 $19.00 $19.81 $15.00 $13.16 $10.14 $10.31 -14.43% <-Total Growth 10 Stock Price
Increase 21.86% -19.67% -43.97% 9.69% 102.38% 31.67% 4.26% -24.28% -12.27% -22.95% 1.68% -1.55% <-IRR #YR-> 10 Stock Price
P/E 118.50 60.17 232.00 40.63 5.94 7.40 12.93 43.07 4260.76 62.67 -24.14 -44.83 -6.81% <-IRR #YR-> 5 Stock Price
Trailing P/E 144.40 48.33 130.00 44.56 12.03 9.74 13.48 32.61 3738.11 48.29 -24.55 43.07 P/E Ratio Historical Median
Median 10, 5 Yrs Price Inc -12.27% P/E:  41.85 43.07 6.53 P/E Ratio Historical Low
-$11.85 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $10.14
Long Term Debt $196.41 $216.96 $224.78 Debt
Ratio to Market Cap 0.57 0.99 0.96 <--- 0.78 <-Median-> 2 % of Market C.
$114.73 $87.47 $87.47
-$27.26 $0.00
Goodwill & Intangibles $78.29 $70.27 $302.77 $305.32 $282.54 $261.66 $251.38 Intangibles Goodwill
Change -$8.02 $232.50 $2.55 -$22.78 -$20.88 -$10.28
Change -10.24% 330.87% 0.84% -7.46% -7.39% -3.93%
Ratio to Market Cap 0.25 0.25 0.78 0.95 0.83 1.20 1.07 <--- 0.80 <-Median-> 6 % of Market C.
Market Cap $139 $176 $190 $152 $92 $200 $308 $277 $389 $320 $342 $218 $234 $234 $0 15.07% <-Total Growth 10 Market Cap
Diluted 12.469 12.469 12.561 13.839 14.941 16.759 17.589 17.456 17.396 39.99% <-Total Growth 7 Diluted
Change 0.00% 0.74% 10.17% 7.96% 12.17% 4.95% -0.76% -0.34% 0.05 <-Median-> 7 Change
Average # of Sh in M 9.980 9.980 11.220 12.470 12.469 12.469 12.551 13.840 14.864 16.679 17.498 17.456 17.396 74.91% <-Total Growth 10 Average
Change 0.00% 12.42% 11.14% -0.01% 0.00% 0.66% 10.27% 7.40% 12.22% 4.91% -0.24% -0.34% 0.06 <-Median-> 10 Change
Difference 0.0% 25.0% 11.2% 0.0% 0.0% 0.0% 10.2% -0.1% 11.9% 5.5% 0.5% 0.4% 0.8% 0.00 <-Median-> 10 Difference
$51.10 <-12 mths -3.34%
# of Share in Millions 9.980 12.472 12.472 12.472 12.469 12.469 13.829 13.829 16.639 17.589 17.589 17.534 17.534 17.534 3.47% <-IRR #YR-> 10 Shares
Increase 24.97% 0.00% 0.00% -0.02% 0.00% 10.91% 0.00% 20.32% 5.71% 0.00% -0.31% 0.00% 0.00% 4.86% <-IRR #YR-> 5 Shares
CF fr Op $M -1.3 $15.190 $21.140 $20.444 $25.080 $30.960 $34.420 $37.750 $47.417 $59.747 $59.747 $52.869 $66.81 $65.58 248.05% <-Total Growth 10 Cash Flow
Increase -1234% 39.17% -3.29% 22.68% 23.44% 11.18% 9.67% 25.61% 26.00% 0.00% -11.51% 26.36% -1.84% S. Issued
5 year Running Average $16.103 $22.563 $26.409 $29.731 $35.125 $42.059 $47.816 $51.506 $57.317 $60.949 219.86% <-Total Growth 7 CF 5 Yr Running
CFPS -$0.13 $1.22 $1.70 $1.64 $2.01 $2.48 $2.49 $2.73 $2.85 $3.40 $3.40 $3.02 $3.81 $3.74 147.56% <-Total Growth 10 Cash Flow per Share
Increase 39.17% -3.29% 22.70% 23.44% 0.24% 9.67% 4.40% 19.20% 0.00% -11.23% 26.36% -1.84% 13.28% <-IRR #YR-> 10 Cash Flow
5 year Running Average $1.29 $1.81 $2.06 $2.27 $2.51 $2.79 $2.97 $3.08 $3.29 $3.47 8.96% <-IRR #YR-> 5 Cash Flow
P/CF on Med Price 0.00 12.21 9.55 8.42 4.68 4.66 7.52 7.69 7.90 6.29 4.80 4.90 3.10 0.00 9.49% <-IRR #YR-> 10 Cash Flow per Share 147.56%
P/CF on Closing Price -103.52 11.58 8.97 7.44 3.68 6.44 8.94 7.33 8.20 5.36 5.73 4.13 3.50 3.57 3.91% <-IRR #YR-> 5 Cash Flow per Share
-49.27% Diff M/C 13.28% <-IRR #YR-> 7 CFPS 5 yr Running
Excl.Working Capital CF 14.26 $1.010 $0.050 $0.760 -$1.510 -$3.230 -$2.145 -$6.475 $8.414 $10.154 $6.014 $21.075 0.00% 0.00% 8.32% <-IRR #YR-> 5 CFPS 5 yr Running
CF fr Op $M WC $12.9 $16.2 $21.2 $21.2 $23.6 $27.7 $32.3 $31.3 $55.8 $69.9 $65.8 $73.9 $66.8 $65.6 356.44% <-Total Growth 10 Cash Flow less WC
Increase 25.39% 30.80% 0.07% 11.16% 17.65% 16.39% -3.10% 78.52% 25.20% -5.92% 12.44% -9.65% -1.84% 16.40% <-IRR #YR-> 10 Cash Flow less WC
5 year Running Average $19.017 $21.979 $25.194 $27.211 $34.136 $43.402 $51.009 $59.342 $66.449 $68.398 18.03% <-IRR #YR-> 5 Cash Flow less WC
CFPS Excl. WC $1.29 $1.30 $1.70 $1.70 $1.89 $2.22 $2.33 $2.26 $3.36 $3.97 $3.74 $4.22 $3.81 $3.74 17.65% <-IRR #YR-> 7 CF less WC 5 Yr Run
Increase 0.34% 30.80% 0.07% 11.18% 17.65% 4.94% -3.10% 48.37% 18.44% -5.92% 12.80% -9.65% -1.84% 18.69% <-IRR #YR-> 5 CF less WC 5 Yr Run
5 year Running Average $1.58 $1.76 $1.97 $2.08 $2.41 $2.83 $3.13 $3.51 $3.82 $3.90 12.50% <-IRR #YR-> 10 CF - non-cash
P/CF on Med Price 11.45 9.53 8.11 4.98 5.20 8.02 9.29 6.71 5.37 4.36 3.50 3.10 0.00 12.56% <-IRR #YR-> 5 CF - non-cash
P/CF on Closing Price 10.85 8.95 7.18 3.91 7.19 9.53 8.84 6.97 4.58 5.20 2.95 3.50 3.57 12.11% <-IRR #YR-> 7 CFPS 5 yr Running
*Operational Cash Flow per share CF/-WC P/CF Med 10 yr 6.90 5 yr  6.29 P/CF Med 10 yr 6.04 5 yr  5.37 -42.02% Diff M/C 12.25% <-IRR #YR-> 5 CFPS 5 yr Running
-$1.22 $0.0 $0.0 $0.0 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.02 Cash Flow per Share
-$2.49 $0.00 $0.00 $0.00 $0.00 $3.02 Cash Flow per Share
-$1.29 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.08 CFPS 5 yr Running
-$2.06 $0.00 $0.00 $0.00 $0.00 $3.08 CFPS 5 yr Running
-$16.2 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $73.9 Cash Flow less WC
-$32.3 $0.0 $0.0 $0.0 $0.0 $73.9 Cash Flow less WC
-$19.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $59.3 CF less WC 5 Yr Run
-$25.2 $0.0 $0.0 $0.0 $0.0 $59.3 CF less WC 5 Yr Run
-$1.30 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.22 CFPS - Less WC
-$2.33 $0.00 $0.00 $0.00 $0.00 $4.22 CFPS - Less WC
-$1.58 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.51 CFPS 5 yr Running
-$1.97 $0.00 $0.00 $0.00 $0.00 $3.51 CFPS 5 yr Running
OPM 31.08% 28.60% 25.09% 28.25% 32.01% 30.74% 33.60% 24.68% 24.72% 21.56% 18.63% -40.05% <-Total Growth 10 OPM
Increase -7.99% -12.27% 12.59% 13.31% -3.97% 9.30% -26.55% 0.17% -12.79% -13.58% Should increase  or be stable.
Diff from Ave 16.5% 7.2% -5.9% 5.9% 20.0% 15.3% 26.0% -7.5% -7.3% -19.2% -30.1% 0.00 <-Median-> 10 OPM
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 26.67% 5 Yrs 24.68% should be  zero, it is a   check on calculations
Current Assets $9.87 $16.43 $28.82 $39.37 $38.33 $42.80 $71.87 $76.01 $73.86 $81.10 $48.50 $54.03 $53.23 Liquidity ratio of 1.5 and up, best Assets
Current Liabilities $9.80 $21.27 $43.01 $57.43 $58.82 $60.23 $81.34 $79.26 $64.37 $65.41 $64.68 $63.69 $56.53 0.80 <-Median-> 10 Ratio
Liquidity Ratio 1.01 0.77 0.67 0.69 0.65 0.71 0.88 0.96 1.15 1.24 0.75 0.85 0.94 0.96 <-Median-> 5 Ratio
Liq. with CF aft div 0.87 0.91 0.80 0.74 0.79 0.91 1.06 1.19 1.53 1.78 1.29 1.28 1.68 1.29 <-Median-> 5 Ratio
Liq. CF re  Inv+Div  0.01 0.67 0.58 0.65 0.68 0.83 0.79 0.89 0.35 0.42 1.00 0.97 1.68 0.89 <-Median-> 5 Ratio
Curr Long Term Db $0.000 $4.686 $12.110 $1.461 $1.461 $1.461
Liquidity Less CLTD 0.96 1.24 1.52 0.77 0.87 0.97 0.96 <-Median-> 5 Ratio
Liq. with CF aft div 1.19 1.65 2.19 1.32 1.31 1.72 1.32 <-Median-> 5 Ratio
Assets $129.43 $128.78 $137.83 $135.58 $121.93 $119.75 $167.29 $166.30 $442.74 $444.40 $379.43 $364.57 $351.64 Debt Ratio of 1.5 and up, best
Liabilities $34.80 $43.83 $43.31 $57.69 $59.24 $60.60 $81.58 $79.42 $299.12 $327.96 $285.25 $290.11 $289.24 2.01 <-Median-> 10 Ratio
Debt Ratio 3.72 2.94 3.18 2.35 2.06 1.98 2.05 2.09 1.48 1.36 1.33 1.26 1.22 1.36 <-Median-> 5 Ratio
Book Value  $94.63 $84.95 $94.52 $77.89 $62.69 $59.15 $85.71 $86.89 $143.62 $116.44 $94.18 $74.46 $62.40 $62.40 $62.40 -12.35% <-Total Growth 10 Book Value
NCI $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.07 $0.00 $0.00 $0.00 $0.05 $0.05
Book Value  $94.63 $84.95 $94.52 $77.89 $62.69 $59.15 $85.71 $86.89 $143.62 $116.37 $94.18 $74.46 $62.40 $62.35 $62.35 -12.35% <-Total Growth 10 Book Value
Book Value per share $9.48 $6.81 $7.58 $6.25 $5.03 $4.74 $6.20 $6.28 $8.63 $6.62 $5.35 $4.25 $3.56 $3.56 #DIV/0! -37.65% <-Total Growth 10 Book Value per Share
Change 11.26% -17.59% -19.50% -5.65% 30.65% 1.37% 37.38% -23.35% -19.07% -20.69% -16.20% -0.07% #DIV/0! 33.26% P/B Ratio Current/10 Year Median
P/B Ratio (Median) 0.00 2.18 2.14 2.21 1.87 2.44 3.02 3.34 2.61 3.23 3.05 3.48 3.32 2.52 P/B Ratio Historical Median
P/B Ratio (Close) 1.47 2.07 2.01 1.95 1.47 3.37 3.59 3.18 2.71 2.75 3.63 2.93 3.75 3.75 #DIV/0! -4.61% <-IRR #YR-> 10 Book Value per Share
Change -3.11% -2.61% -24.65% 129.16% 6.44% -11.33% -14.91% 1.61% 31.98% -19.36% 27.96% 0.07% #DIV/0! -7.28% <-IRR #YR-> 5 Book Value per Share
Leverage (A/BK) 1.37 1.52 1.46 1.74 1.94 2.02 1.95 1.91 3.08 3.82 4.03 4.90 5.64 1.99 <-Median-> 10 A/BV
Debt/Equity Ratio 0.37 0.52 0.46 0.74 0.94 1.02 0.95 0.91 2.08 2.82 3.03 3.90 4.64 0.99 <-Median-> 10 Debt/Eq Ratio
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Med 2.81 5 yr Med 3.23 33.26% Diff M/C 1.95 Historical 12 A/BV
-$6.81 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.25
-$6.20 $0.00 $0.00 $0.00 $0.00 $4.25
-$1.08 <-12 mths -117.44%
Comprehensive Income Comprehensive Income
NCI Foreign Exch loss
Comprehensive Income $14.66 $25.16 -$0.75 $4.94 -$18.20 $2.75 $6.18 -57.83% <-Total Growth 6 Comprehensive Income
Increase 71.64% -102.97% 761.64% -468.44% 115.09% 125.01% 115.1% <-Median-> 5 Comprehensive Income
ROE 24.8% 29.4% -0.9% 3.4% -15.6% 2.9% 8.3% 2.9% <-Median-> 5 Comprehensive Income
5Yr Median 24.8% 14.1% 3.4% 2.9% 2.9% -13.40% <-IRR #YR-> 6 Comprehensive Income
% Difference from NI -1.7% 0.3% -103.7% -21.9% -21513% -25.0% -185.0% -24.48% <-IRR #YR-> 5 Comprehensive Income
Median Values Diff 5, 10 yr -25.0% -103.7%
-$14.7 $0.0 $0.0 $0.0 $0.0 $0.0 $6.2
-$25.2 $0.0 $0.0 $0.0 $0.0 $6.2
Current Liability Coverage Ratio 1.32 0.76 0.49 0.37 0.40 0.46 0.40 0.39 0.87 1.07 1.02 1.16   CFO / Current Liabilities
5 year Median 0.49 0.46 0.40 0.40 0.40 0.46 0.87 1.02 1.02 <-Median-> 5 Current Liability Cov Ratio
Asset Efficiency Ratio 9.98% 12.58% 15.37% 15.64% 19.33% 23.16% 19.29% 18.81% 12.61% 15.73% 17.33% 20.28% CFO / Total Assets
5 year Median 15.37% 15.64% 19.29% 19.29% 19.29% 18.81% 17.33% 17.33% 17.3% <-Median-> 5 Return on Assets 
Return on Assets 0.0% 0.8% 1.7% 0.4% 1.7% 12.5% 15.0% 12.2% 1.4% 0.0% 1.0% -2.0% Net  Income/Assets ROA
5Yr Median 1.7% 1.7% 12.2% 12.2% 12.2% 1.4% 1.0% 1.0% <-Median-> 5 ROA
ROE 0.0% 1.2% 2.5% 0.8% 3.2% 25.2% 29.2% 23.4% 4.4% 0.1% 3.9% -9.8% Net Inc/ Shareholders' equity ROE
5Yr Median 1.2% 2.5% 3.2% 23.4% 23.4% 23.4% 4.4% 3.9% 3.9% <-Median-> 5 ROE
-$6.19 <-12 mths 14.91%
Net Income -$0.027 $0.06
NCI -$0.006 $0.03
Net Income -$0.034 $1.01 $2.37 $0.59 $2.02 $14.91 $25.07 $20.32 $6.33 $0.09 $3.67 -$7.27 -$3.95 -$2.27 -816.34% <-Total Growth 10 Net Income
Increase 3113.06% 133.17% -75.06% 242.37% 638.12% 68.14% -18.94% -68.86% -98.66% 4211.76% -298.34% -45.66% -42.53% EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average $1.19 $4.18 $8.99 $12.58 $13.73 $13.34 $11.09 $4.63 -$0.23 -$1.95 #NUM! <-IRR #YR-> 10 Net Income -816.34%
Operating Cash Flow -$1.34 $15.19 $21.14 $20.44 $25.08 $30.96 $34.42 $37.75 $47.42 $59.75 $59.75 $52.87 #NUM! <-IRR #YR-> 5 Net Income -128.99%
Investment Cash Flow -$1,029 -$7.83 -$15.87 -$7.87 -$8.93 -$6.17 -$26.70 -$26.70 -$213.13 -$213.13 -$19.23 -$20.29 21.38% <-IRR #YR-> 7 5 Yr Running Average 288.28%
Total Accruals $1,030 -$6.35 -$2.90 -$11.98 -$14.13 -$9.88 $17.35 $9.27 $172.04 $153.47 -$36.85 -$39.85 -12.45% <-IRR #YR-> 5 5 Yr Running Average -48.55%
Total Assets $129.43 $128.78 $137.83 $135.58 $121.93 $119.75 $167.29 $166.30 $442.74 $444.40 $379.43 $364.57 Balance Sheet Assets
Accruals Ratio 795.98% -4.93% -2.11% -8.84% -11.59% -8.25% 10.37% 5.58% 38.86% 34.53% -9.71% -10.93% 5.58% <-Median-> 5 Ratio
EPS/CF Ratio 0.00 0.08 0.14 0.03 0.08 0.54 0.84 0.65 0.14 0.00 0.06 -0.10 0.11 <-Median-> 10 EPS/CF Ratio
-$1.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 -$7.3
-$25.1 $0.0 $0.0 $0.0 $0.0 -$7.3
-$1.2 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $4.6
-$9.0 $0.0 $0.0 $0.0 $0.0 $4.6
Chge in Close 0.00% 1.44% 7.80% -19.74% -39.34% 116.22% 39.06% -10.11% 16.90% -22.11% 6.81% -36.04% 7.23% 0.00% 0.00% count 13 Change in Close
up/down/neutral down up up up down down down down up up count 10
Any Predictions? yes yes yes yes % right count 4 40.00%
Financial Cash Flow $1,034 -$4.95 -$3.12 -$13.00 -$10.42 -$17.00 $1.76 $1.76 $158.18 $16.10 -$90.59 -$27.04 C F Statement  Financial Cash Flow
Total Accruals -$4.25 -$1.40 $0.22 $1.02 -$3.71 $7.12 $15.59 $7.51 $13.86 $137.37 $53.74 -$12.81 Accruals
Accruals Ratio -3.29% -1.08% 0.16% 0.75% -3.04% 5.95% 9.32% 4.52% 3.13% 30.91% 14.16% -3.51% 4.52% <-Median-> 5 Ratio
Cash $4.21 $2.62 $4.77 $4.34 $10.07 $18.11 $27.67 $35.60 $28.45 $50.89 $14.24 $20.86 $21.57 Cash
Cash per Share $0.42 $0.21 $0.38 $0.35 $0.81 $1.45 $2.00 $2.57 $1.71 $2.89 $0.81 $1.19 $1.23 $1.71 <-Median-> 5 Cash per Share
Percentage of Stock Price 3.03% 1.49% 2.52% 2.85% 10.91% 9.08% 8.99% 12.87% 7.31% 15.89% 4.16% 9.56% 9.22% 9.56% <-Median-> 5 % of Stock Price
August 6, 2016.  Last estimates were for 2015 and 2016 of $272M and $272M for Revenue, -$0.57 and -$0.33 for EPS and -$10.80M and -$6.20M for Net Income.
August 8, 2015.  Last estimates were for 2014 and 2015 of $272M,  and $252M for Revenue; -$.08, $.08 for EPS; $4.23 and $3.31 for CFPS and $-1.4M and $1.4M for Net Income.
July 29, 2014.  Last estimates were for 2013 and 2014 of $245M and $257.8M for Revenue, $0.12 and $0.27 for EPS, $4.17 and $3.86 for CFPS.
June 20, 2013.  Last estimates were for 2011 of $119M and $120.7M for Revenue and $1.20 and $1.18 for EPS.
Jan 14, 2012.  Last estimates were for EPS in 2010 and 2012 of $1.80 and $1.45 
This company will convert to a corporation on 1 Jan 2011.  It will maintain its current dividend.  Old name was DirectCash Income Fund (DCI.UN) to DirectCash Payments Inc (DCI)
This company only has financial data at Sedar, not on their site.  I got info from www.google.ca/finance.  Company publicises results, but not full financial statements in news releases.
I saw some financials as news releases on their site.  
Fund started 2 November 2004.  New tax laws on income trust announced in October 2006.  Changed to a corporation in 2011.
I started to follow this company as it was recommended as an income trust that will do very well with the conversion to a corporation at the Money Show in 2009.
Would I buy this company and Why.
I would not buy this stock.  Some of its larger customers in the Prepaid Card business are involved in the payday loan business.  I do not like pay date loan companies.  I do not want to make money off the backs of the poor. 
The company does not seem to make money directly from Payday loans.   Maybe I am overly sensitive about this subject, but there are lots of companies to invest in for dividends besides this one.
Dividends
Dividends are paid monthly.  Dividends are announced for shareholders of record of one month and paid in the following month. 
For example, the July dividend announced on July 15 for shareholders of record of July 31, 2014 was payable on August 29, 2014.
Why am I following this stock. 
I wanted to review stocks touted in the 2009 Money Show.   There was a lot of talk at this show about some of the Unit Trusts being currently good buys with very good yield.  
This is one stock that was recommended.
How they make their money.
DirectCash is the leading provider of ATMs, debit terminals, prepaid phone cards and prepaid cash cards in Canada. They have built a substantial technological, sales and service infrastructure that enables them to 
offer convenient and secure revenue streams for businesses across the country.  DirectCash operates in Canada, the United States and Mexico.
Over 40% owned by Gallacher family.
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
Date Jul 7 2013 Jul 30 2014 Aug 8 2015 Aug 6 2016
Smith, Jeffrey 2.474 14.06% 2.602 14.79% 2.650 15.12% 2.751 15.69%
CEO - Shares - Amount $45.044 $50.608 $32.97 $36.69
Options - percentage 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.150 0.86%
Options - amount $0.000 $0.000 $0.00 $2.00
Moriarty, Patrick William 0.005 0.03%
CFO - Shares - Amount $0.07
Options - percentage 0.000 0.00%
Options - amount $0.00
Hughes, Brenda Gene 0.003 0.01% 0.011 0.06% 0.015 0.08%
CFO - Shares - Amount $0.047 $0.218 $0.18
Options - percentage 0.000 0.00% 0.000 0.00% 0.000 0.00%
Options - amount $0.000 $0.000 $0.00
Elassal, Adel 0.016 0.09% 0.018 0.10%
Officer - Shares - Amount $0.20 $0.24
Options - percentage 0.000 0.00% 0.000 0.00%
Options - amount $0.00 $0.00
Killeen, Aimie Marie 0.005 0.03%
Officer - Shares - Amount $0.06
Options - percentage 0.000 0.00%
Options - amount $0.00
Dick, Claudette Marie 0.005 0.03% 0.003 0.02%
Officer - Shares - Amount $0.095 $0.065
Options - percentage 0.000 0.00% 0.000 0.00%
Options - amount $0.000 $0.000
Dundas, Gary 0.031 0.18% 0.039 0.22% 0.041 0.24% 0.045 0.26%
Director - Shares - Amount $0.569 $0.764 $0.52 $0.60
Options - percentage 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00%
Options - amount $0.000 $0.000 $0.00 $0.00
Anderson, Susan Margaret 2.454 13.99%
10% Holder    $32.73
Options 0.000 0.00%
10% Holder  $0.00
Gallacher, Susan 2.168 12.33% Was a director
10% Holder    $39.477
Options 0.000 0.00%
10% Holder - not up for re-election in 2012. $0.000
Hurtubise, Roger Bradley 0.101 0.58% 0.170 0.97%
Lead Director- Shares - Amt $1.26 $2.27
Options - percentage 0.000 0.00% 0.000 0.00%
Options - amount $0.00 $0.00
Increase in O/S Shares 0.000 0.00% 0.000 0.00% 0.000 0.00% Yes, 0
due to SO 2013 $0.000 $0.000 $0.00
Book Value $0.000 $0.000 $0.000
Insider Buying -$0.131 -$1.366
Insider Selling $0.010 $0.043
Net Insider Selling -$0.997 -$0.121 -$1.323
% of Market Cap -0.29% -0.06% -0.61%
Directors 6 6 6 6
Women 0 0% 0 0% 0 0% 0 0%
Minorities 0 0% 0 0% 0 0% 0 0%
Institutions/Holdings 14 33.28% 22 33.16% 17 20.90%
Total Shares Held 3.562 21.40% 5.853 33.28% 5.832 33.26% 3.668 20.92%
Increase/Decrease 0.436 13.94% 0.008 0.13% 0.024 0.41% -0.027 -0.73%
Starting No. of Shares 3.126 5.846 5.809 3.695
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