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.
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Dorel Industries Inc DII.B-T www.dorel.com Fiscal Yr: Dec-30
12/30/99 12/30/00 12/30/01 12/30/02 12/30/03 12/30/04 12/30/05 12/30/06 12/30/07 12/30/08 12/30/09 12/30/10 12/30/11 12/29/12 12/29/13
Reporting <--CDN$ US$-->
Accting rules C GAAP C GAAP
split
Exc Rate $1.473 $1.522 $1.596 $1.521 $1.303 $1.200 1.1630 1.1652 0.9881 1.2240 1.0501 0.9970 0.9775 0.9775 0.9775
Sales US $ $630.6 $757.5 $916.8 $992.1 $1,163.8 $1,684.9 $1,760.9 $1,748.0 $1,813.7 $2,181.8 $2,140.1 $2,313.0 $2,515.4 $2,496.5 205.33% <-Total Growth 10 Revenues US $
Increase US$ 26.9% 20.1% 21.0% 8.2% 17.3% 44.8% 4.5% -0.7% 3.8% 20.3% -1.9% 8.1% 8.8% -0.8% 11.81% <-IRR #YR-> 10 Revenues
# Revenue in M US$ 5.61% <-IRR #YR-> 5 Revenues
-$757.5 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2,313.0
-$1,760.9 $0.00 $0.00 $0.00 $0.00 $2,313.0
Sales CDN$ $929 $1,153 $1,463 $1,509 $1,517 $2,022 $2,048 $2,037 $1,792 $2,671 $2,247 $2,306 $2,459 $2,440 99.96% <-Total Growth 10 Revenues CDN $
Increase 21.2% 24.1% 26.9% 3.2% 0.5% 33.3% 1.3% -0.5% -12.0% 49.0% -15.8% 2.6% 6.6% -0.8% 7.18% <-IRR #YR-> 10 Revenues CDN $
Rev per Share $32.99 $36.84 $51.94 $48.22 $46.50 $61.64 $62.37 $61.98 $53.66 $79.95 $68.17 $70.60 $75.27 $74.71 2.40% <-IRR #YR-> 5 Revenues CDN $
P/S (Price/Sales) 0.79 0.52 0.62 0.73 0.76 0.67 0.44 0.51 0.56 0.35 0.48 0.49 0.34 0.34 6.72% <-IRR #YR-> 10 Rev Per share CDN $
# Revenue in M of Cdn $ Using exc rates 2000 and later) P/S 10 yr  0.53 5 yr  0.49 2.51% <-IRR #YR-> 5 Rev Per share CDN $
-$1,153.3 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $2,306.1
-$2,047.9 $0.0 $0.0 $0.0 $0.0 $2,306.1
-$36.84 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $70.60
-$62.37 $0.00 $0.00 $0.00 $0.00 $70.60
EPS US$ $1.30 $1.03 $0.93 $2.00 $2.29 $3.04 $2.77 $2.70 $2.63 $3.38 $3.21 $3.85 $2.97 $3.48 273.79% <-Total Growth 10 Earnings US $
Increase 102.0% -20.5% -9.7% 115.1% 14.5% 32.8% -8.9% -2.5% -2.6% 28.5% -5.0% 19.9% -22.9% 17.2% 14.09% <-IRR #YR-> 10 Earnings
#Per share in US $ (based on exc rate to 1999, 2000 & 01 are net income from continuing operations) 6.81% <-IRR #YR-> 5 Earnings
-$1.03 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.85
-$2.77 $0.00 $0.00 $0.00 $0.00 $3.85
EPS Cdn$ $1.91 $1.57 $1.48 $3.04 $2.98 $3.65 $3.22 $3.15 $2.60 $4.14 $3.37 $3.84 $2.90 $3.40 144.79% <-Total Growth 10 Earnings CDN $
Increase 92.9% -17.9% -5.3% 105.0% -1.9% 22.2% -11.7% -2.3% -17.4% 59.2% -18.5% 13.9% -24.4% 17.2% 9.37% <-IRR #YR-> 10 Earnings CDN $
Earnings Yield 7.3% 8.3% 4.6% 8.6% 8.4% 8.8% 11.7% 10.0% 8.7% 14.8% 10.4% 11.1% 11.4% 13.6% 3.57% <-IRR #YR-> 5 Earnings CDN $
Per Share In CDN$ (from 2000 based on exchange rate) E/P 10 Yrs 9.40% 5Yrs 10.36%
-$1.57 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.84
-$3.22 $0.00 $0.00 $0.00 $0.00 $3.84
Div US$ $0.38 $0.50 $0.50 $0.58 $0.60 $0.60 $0.60 15.00% 20.00% <-Total Growth 5 Dividends US $
Increase 33.3% 0.0% 15.0% 4.3% 0.0% 0.0% #NUM! #NUM! <-IRR #YR-> 10 Dividends US $
* Dividends per share  15.31% 12.47% <-IRR #YR-> 4 Dividends US $
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.60
-$0.38 $0.00 $0.00 $0.00 $0.60
Div CDN$ $0.37 $0.61 $0.53 $0.57 $0.59 $0.59 $0.59 -6.33% 11.70% <-Total Growth 5 Dividends CDN $
Increase 65.2% -14.2% 9.2% 2.3% 0.0% 0.0% 9.18% 5.74% <-Median-> 4 Dividends CDN $
Yield H/L Pr. 1.22% 2.64% 1.68% 1.64% 2.35% 1.66% 1.68% <-Median-> 5 Dividends CDN $
Yield on High  Pr. 0.92% 1.71% 1.53% 1.51% 1.70% 1.52% 1.53% <-Median-> 5 Dividends CDN $
Yield on Low Pr. 1.30% 3.04% 3.44% 1.90% 2.70% 2.47% 2.70% <-Median-> 5 Dividends CDN $
Yield on Cl Pr. 1.24% 2.19% 1.61% 1.66% 2.30% 2.34% 2.34% 1.64% 1.66% <-Median-> 5 Dividends CDN $
Payout Ratio 14.3% 14.8% 15.6% 14.9% 20.2% 17.2% #DIV/0! 14.86% 14.94% <-Median-> 5 Dividends CDN $
Payout Ratio CF 7.5% 20.9% 8.1% 24.1% 13.2% 11.8% #DIV/0! 14.48% 13.25% <-Median-> 5 Dividends CDN $
Payout Ratio CF NC 8.8% 10.5% 10.5% 10.4% 13.2% 10.46% 10.51% <-Median-> 5 Dividends CDN $
Average 5 Yrs Div Yd 2.71% 5 3.14% 10 Yield  1.68% 1.66% Payout 14.94% 13.25% #NUM! #NUM! <-IRR #YR-> 10 Dividends CDN $
* Dividends per share  3.0% Years 3.0% Years Curr diff 39.58% Last Div Inc ---> $0.13 $0.15 20.0% 15.66% 12.17% <-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 $0.59
-$0.37 $0.00 $0.00 $0.00 $0.59
H/LYield held 5 yrs 1.12% 1.58% 1.27% 1.57% 2.03% 1.70% 2.10% 1.42% <-Median-> 4 Dividends CDN $
H/LYield held 10 yrs 2.76% 2.92% 1.89% 2.21% 2.30% 1.78% 1.51% 2.48% <-Median-> 4 Dividends CDN $
Graham Price CDN$ $20.15 $18.05 $20.02 $34.32 $36.44 $44.94 $41.55 $44.80 $40.28 $58.83 $51.77 $55.78 $49.01 $53.05 $0.00 209.12% <-Total Growth 10 Graham Price CDN $
Prem /Disc.Med H/L 37.59% 43.94% 27.35% -3.73% 6.41% -8.31% -12.21% -35.65% -14.58% -52.46% -52.10% -38.87% -42.54% -13.39% <-Median-> 10 Graham Price CDN $
Prem/Disc. High 66.00% 85.36% 59.81% 13.57% 18.96% 4.48% 11.43% -24.55% -0.07% -39.08% -33.66% -31.79% -29.40% 2.21% <-Median-> 10 Graham Price CDN $
Prem/Disc. Low 9.18% 2.52% -5.11% -21.04% -6.15% -21.11% -35.84% -46.76% -29.09% -65.84% -70.54% -45.95% -55.68% -32.47% <-Median-> 10 Graham Price CDN $
Prem/Disc. Cl 29.03% 5.29% 59.81% 2.70% -2.61% -8.03% -33.50% -29.59% -25.54% -52.41% -37.14% -38.15% -47.87% -52.73% #DIV/0! -27.57% <-Median-> 10 Graham Price CDN $
Price Close CDN $26.00 $19.00 $32.00 $35.25 $35.49 $41.33 $27.63 $31.54 $29.99 $28.00 $32.54 $34.50 $25.55 $25.08 $25.08 81.58% -20.16% <-Total Growth 10 Stock Price CDN $
Increase 4.0% -26.9% 68.4% 10.2% 0.7% 16.5% -33.1% 14.2% -4.9% -6.6% 16.2% 6.0% -25.9% -1.8% 0.0% 6.15% -2.23% <-IRR #YR-> 10 Stock Price CDN $
P/E 13.61 12.12 21.56 11.58 11.89 11.33 8.58 10.03 11.54 6.77 9.65 8.99 8.80 7.37 #DIV/0! 4.54% -4.12% <-IRR #YR-> 5 Stock Price CDN $
Trailing P/E 26.26 9.95 20.41 23.75 11.66 13.85 7.57 9.79 9.53 10.77 7.87 10.23 6.66 8.64 7.37 6.83% -1.27% <-IRR #YR-> 10 Price & Div CDN $
Median 10, 5 Yrs D.  per yr 0.95% 1.85% % Tot Ret -75.01% -81.05% Price Inc -4.91% P/E:  9.84 8.99 5.87% -2.28% <-IRR #YR-> 5 Price & Div CDN $
-$32.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $25.55
-$31.54 $0.00 $0.00 $0.00 $0.00 $25.55
-$32.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.37 $0.61 $0.53 $0.57 $26.14
-$31.54 $0.37 $0.61 $0.53 $0.57 $26.14
Price Cl US$ $17.65 $12.48 $20.05 $23.17 $27.00 $34.49 $23.80 $27.07 $30.35 $23.20 $31.34 $35.06 $25.00 180.92% 24.69% <-Total Growth 10 Stock Price US$ 
Increase 8.9% -29.3% 60.7% 15.6% 16.5% 27.7% -31.0% 13.7% 12.1% -23.6% 35.1% 11.9% -28.7% not on US exchange, on OTC Stock Price US$ 
Price Median H/L $27.73 $25.98 $25.50 $33.04 $38.78 $41.20 $36.48 $28.83 $34.41 $27.97 $24.80 $34.10 $28.16 31.28% 10.43% <-Total Growth 10 Stock Price CDN $
Increase 32.4% -6.3% -1.8% 29.6% 17.4% 6.3% -11.5% -21.0% 19.4% -18.7% -11.4% 37.5% -17.4% 2.76% 1.00% <-IRR #YR-> 10 Stock Price CDN $
P/E 14.52 16.56 17.18 10.86 12.99 11.29 11.32 9.16 13.24 6.76 7.36 8.88 9.70 -1.34% -0.47% <-IRR #YR-> 5 Stock Price CDN $
Trailing P/E 28.01 13.60 16.26 22.26 12.74 13.80 10.00 8.95 10.94 10.76 5.99 10.12 7.34 3.40% 1.95% <-IRR #YR-> 10 Price & Div CDN $
Median 10, 5 Yrs D.  per yr 0.95% 1.86% % Tot Ret 48.80% 133.31% Price Inc -11.35% P/E:  10.28 8.88 -0.17% 1.40% <-IRR #YR-> 5 Price & Div CDN $
-$25.50 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $28.16
-$28.83 $0.00 $0.00 $0.00 $0.00 $28.16
-$25.50 $0.00 $0.00 $0.00 $0.00 $0.00 $0.37 $0.61 $0.53 $0.57 $28.75
-$28.83 $0.37 $0.61 $0.53 $0.57 $28.75
High Months May-Jul Jul May Apr-Aug Apr-Jul Mar Feb Dec Jul Sep Nov May Jan
Price HI CDN $ $33.45 $33.45 $32.00 $38.98 $43.35 $46.95 $46.30 $33.80 $40.25 $35.84 $34.34 $38.05 $34.60 13.75% 8.13% <-Total Growth 11 Stock Price CDN $
Increase 29.3% 0.0% -4.3% 21.8% 11.2% 8.3% -1.4% -27.0% 19.1% -11.0% -4.2% 10.8% -9.1% 1.30% 0.78% <-IRR #YR-> 10 Stock Price CDN $
P/E 17.51 21.33 21.56 12.81 14.52 12.87 14.37 10.74 15.49 8.66 10.19 9.91 11.92 -3.85% 0.47% <-IRR #YR-> 5 Stock Price CDN $
Trailing P/E 33.79 17.51 20.41 26.26 14.25 15.73 12.69 10.49 12.79 13.79 8.30 11.29 9.01
Median 10, 5 Yrs Price Inc -4.19% P/E:  12.36 10.19
-$32.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $34.60
-$33.80 $0.00 $0.00 $0.00 $0.00 $34.60
High Months Nov May Jan
Price Hi US$ $22.70 $21.97 $20.05 $25.62 $31.33 $35.51 $37.06 $29.01 $40.73 $29.28 $32.65 $36.90 $34.36 180.92% 24.69% <-Total Growth 10 Stock Price US$ 
Increase 35.3% -3.2% -8.7% 27.8% 22.3% 13.3% 4.4% -21.7% 40.4% -28.1% 11.5% 13.0% -6.9% not on US exchange, on OTC Stock Price US$ 
Low Months Sep-Nov Sep-Dec Jan-Mar Jan-Mar Jan-Mar Oct Dec Aug Sep Dec Mar Feb Sep
Price Low CDN $22.00 $18.50 $19.00 $27.10 $34.20 $35.45 $26.66 $23.85 $28.56 $20.10 $15.25 $30.15 $21.72 62.97% 14.32% <-Total Growth 11 Stock Price CDN $
Increase 37.5% -15.9% 2.7% 42.6% 26.2% 3.7% -24.8% -10.5% 19.7% -29.6% -24.1% 97.7% -28.0% 5.01% 1.35% <-IRR #YR-> 10 Stock Price CDN $
P/E 11.52 11.80 12.80 8.91 11.46 9.72 8.28 7.58 10.99 4.86 4.52 7.85 7.48 2.49% -1.85% <-IRR #YR-> 5 Stock Price CDN $
Trailing P/E 22.22 9.69 12.12 18.26 11.24 11.88 7.31 7.40 9.08 7.73 3.69 8.94 5.66
Median 10, 5 Yrs Price Inc -24.13% P/E:  8.07 7.48
-$19.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $21.72
-$23.85 $0.00 $0.00 $0.00 $0.00 $21.72
Low Months Mar Feb Sep
Price Low US$ $14.93 $12.15 $11.90 $17.81 $22.78 $26.11 $23.12 $20.47 $28.90 $16.42 $11.62 $28.73 $20.90 136.42% <-Total Growth 11 Stock Price US $
Increase 43.9% -18.6% -2.0% 49.6% 27.9% 14.6% -11.5% -11.5% 41.2% -43.2% -29.2% 147.2% -27.3% not on US exchangeon OTC Stock Price
Market Cap  $732 $595 $901 $1,104 $1,158 $1,356 $907 $1,036 $1,002 $935 $1,073 $1,127 $835 $819 $819
pre '98 split
# of Shares Yr End 28.161 31.306 28.170 31.306 32.619 32.800 32.832 32.861 33.397 33.402 32.966 32.665 32.665 32.665 32.665 Capital Stock Shares
Increase 2.4% 11.2% -10.0% 11.1% 4.2% 0.6% 0.1% 0.1% 1.6% 0.0% -1.3% -0.9% 0.0% 0.0% 0.09% <-Median-> 10 Shares
Cash Flow US $29.317 $49.313 $47.152 $126.938 $110.447 $115.54 $98.87 $106.72 $167.34 $79.88 $204.52 $78.02 $147.97 $166.27 58.21% <-Total Growth 10 Cash Flow US $
OPS US$ $1.04 $1.58 $1.67 $4.05 $3.39 $3.52 $3.01 $3.25 $5.01 $2.39 $6.20 $2.39 $4.53 $5.09 51.63% <-Total Growth 10 Cash Flow US $
Cash Flow CDN$ $43.19 $75.07 $75.25 $193.14 $143.95 $138.65 $114.98 $124.35 $165.35 $97.78 $214.77 $77.78 $144.64 $162.52 3.61% <-Total Growth 10 Cash Flow CDN $
OPS CDN$ $1.53 $2.40 $2.67 $6.17 $4.41 $4.23 $3.50 $3.78 $4.95 $2.93 $6.51 $2.38 $4.43 $4.98 -0.70% <-Total Growth 10 Cash Flow CDN $
Increase -18.00% 56.35% 11.40% 130.94% -28.47% -4.21% -17.15% 8.05% 30.84% -40.88% 122.55% -63.45% 85.95% 12.36% 1.92% <-Median-> 10 Cash Flow CDN $
Non-Cash US$ $6.78 $14.13 -$46.22 $2.48 $17.06 $44.35 $29.40 -$24.48 $78.51 -$47.66 $102.31 $0.00 $0.00 -0.07% <-IRR #YR-> 10 Cash Flow CDN $
Non-Cash CDN $37.17 $10.32 $22.55 -$70.33 $3.23 $20.47 $51.57 $34.26 -$24.19 $96.09 -$50.05 $102.01 $0.00 $0.00 -7.42% <-IRR #YR-> 5 Cash Flow CDN $
OPS Less Non-Cash $2.85 $2.73 $3.47 $3.92 $4.51 $4.85 $5.07 $4.83 $4.23 $5.80 $5.00 $5.50 $4.43 $4.98 7.27% <-IRR #YR-> 10 OPS Less N-C CDN $
Increase 65.4% -4.4% 27.3% 13.0% 15.0% 7.5% 4.6% -4.9% -12.4% 37.3% -13.9% 10.2% -19.5% 12.4% 1.64% <-IRR #YR-> 5 OPS Less N-C CDN $
P/O on Cl 9.11 6.97 9.22 8.99 7.87 8.52 5.45 6.53 7.10 4.82 6.51 6.27 5.77 5.04
*Operational Cash Flow per share (Classes A & B) P/CF Ave 10 Yrs 7.13 5 Yrs 6.25
-$2.40 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.38
-$3.50 $0.00 $0.00 $0.00 $0.00 $2.38
-$2.73 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5.50
-$5.07 $0.00 $0.00 $0.00 $0.00 $5.50
OPM 4.6% 6.5% 5.1% 12.8% 9.5% 6.9% 5.6% 6.1% 9.2% 3.7% 9.6% 3.4% 5.9% should be zero, it is a check on calculations
Diff from Ave -28.3% 0.4% -20.6% 97.4% 46.4% 5.8% -13.4% -5.8% 42.4% -43.5% 47.4% -48.0% -9.2% 0.00 <-Median-> 10 OPM CDN $
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 6.48% 5 Yrs 6.11% OPM CDN $
Q3 2011
Curr Assets US$ $305.91 $289.53 $327.75 $458.86 $635.51 $633.65 $694.16 $684.05 $916.08 $841.37 $959.24 $903.74 Liq ratio of 1.5 and up, best Assets US $
Curr Liab. US$ $116.16 $115.46 $153.93 $263.70 $379.12 $342.20 $349.83 $420.35 $427.07 $490.84 $425.41 $381.37 1.92 <-Median-> 10 Liabilities US $
Liquidity 2.63 2.51 2.13 1.74 1.68 1.85 1.98 1.63 2.15 1.71 2.25 2.37 1.98 <-Median-> 5 Ratio US $
Curr Assets CDN$ $333.25 $465.71 $462.08 $498.67 $598.03 $762.61 $736.93 $808.83 $675.9 $1,121.3 $883.5 $956.4 $883.4 Liq ratio of 1.5 and up, best Assets
Curr Liab. CDN$ $104.28 $176.84 $184.28 $234.21 $343.69 $454.94 $397.98 $407.62 $415.3 $522.7 $515.4 $424.1 $372.8 1.92 <-Median-> 10 Liabilities CDN $
Liquidity 3.20 2.63 2.51 2.13 1.74 1.68 1.85 1.98 1.63 2.15 1.71 2.25 2.37 1.98 <-Median-> 5 Ratio CDN $
Assets US$ $576.0 $568.6 $614.7 $1,110.5 $1,616.9 $1,542.7 $1,627.4 $1,657.4 $2,030.5 $2,002.2 $2,096.0 $2,075.6 A/L ratio of 1.5 and up, best Assets US $
Liab. US$ $287.1 $230.4 $76.1 $465.5 $810.0 $760.6 $827.9 $719.7 $1,015.7 $893.0 $915.5 $846.8 2.27 <-Median-> 10 Liabilities US $
Asset/Liab Ratio 2.01 2.47 8.08 2.39 2.00 2.03 1.97 2.30 2.00 2.24 2.29 2.45 2.24 <-Median-> 5 Ratio US $
Assets CDN$ $495.8 $877.0 $907.4 $935.3 $1,447.3 $1,940.3 $1,794.1 $1,896.3 $1,637.7 $2,485.3 $2,102.5 $2,089.7 $2,028.9 A/L ratio of 1.5 and up, best Assets
Liab. CDN$ $229.8 $437.1 $367.7 $115.8 $606.7 $972.0 $884.6 $964.7 $711.1 $1,243.3 $937.7 $912.7 $827.7 2.27 <-Median-> 10 Liabilities CDN $
Asset/Liab Ratio 2.16 2.01 2.47 8.08 2.39 2.00 2.03 1.97 2.30 2.00 2.24 2.29 2.45 2.24 <-Median-> 5 Ratio CDN $
Book Value US $ $180.59 $189.8 $211.9 $354.0 $494.9 $672.4 $672.4 $799.5 $937.7 $1,014.7 $1,109.2 $1,180.5 $1,228.9 521.95% <-Total Growth 10 Book Value US $
Book Value CDN $ $266.1 $289.0 $338.2 $538.6 $645.0 $806.9 $782.1 $931.6 $926.6 $1,242.0 $1,164.8 $1,176.9 $1,201.2 307.31% <-Total Growth 10 Book Value CDN $
BV per share $9.45 $9.23 $12.01 $17.21 $19.77 $24.60 $23.82 $28.35 $27.74 $37.18 $35.33 $36.03 $36.77 $36.77 $36.77 290.36% <-Total Growth 10 Book Value CDN $
Change 16.26% -2.31% 30.07% 43.31% 14.93% 24.42% -3.18% 19.02% -2.13% 34.03% -4.98% 1.98% 2.06% 0.6115 Current/Historical Book Value CDN $
P/BV (CL) 2.75 2.06 2.67 2.05 1.79 1.68 1.16 1.11 1.08 0.75 0.92 0.96 0.69 14.59% <-IRR #YR-> 10 Book Value CDN $
Change -10.54% -25.20% 29.48% -23.13% -12.40% -6.40% -30.95% -4.09% -2.84% -30.34% 22.31% 3.97% -27.44% 8.63% <-IRR #YR-> 5 Book Value CDN $
Leverage (A/BK) 1.86 3.03 2.68 1.74 2.24 2.40 2.29 2.04 1.77 2.00 1.81 1.78 1.69 2.02 <-Median-> 10 A/BV CDN $
Debt/Equity Ratio 0.86 1.51 1.09 0.22 0.94 1.20 1.13 1.04 0.77 1.00 0.81 0.78 0.69 0.97 <-Median-> 10 Debt/Eq Ratio CDN $
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Med 1.14 5 yr Med 0.96
ROE 15.6% 13.9% 8.8% 10.8% 8.2% 10.77% <-Median-> 5 Compreh. Inc
Comprehensive Inc $124.61 $130.48 $89.12 $119.46 $96.89 Compreh. Inc
ROE 15.6% 13.9% 8.8% 10.8% 8.2% 10.77% <-Median-> 5 Compreh. Inc
Comprehensive Inc $145.19 $128.92 $109.09 $125.45 $96.60 Compreh. Inc
ROE 20.9% 9.1% 12.0% 17.4% 15.2% 14.9% 13.6% 11.1% 9.3% 11.1% 9.7% 10.8% 8.4% <-12 mths Net Income/Shareholders' equity ROE CDN $
5Yr Median 12.1% 12.1% 15.2% 14.9% 14.9% 14.9% 13.6% 11.1% 11.1% 10.8% 9.7% <-12 mths ROE CDN $
Net Income US$ $17.31 $25.50 $61.60 $75.03 $100.08 $91.32 $88.87 $87.49 $112.86 $107.23 $127.85 $103.30 <-12 mths 638.78% <-Total Growth 10 Net Income US $
Oper C. F. $49.31 $47.15 $126.94 $110.45 $115.54 $98.87 $106.72 $167.34 $79.88 $204.52 $78.02 C F Statement  Oper C. F. US $
Invest. C. F -$22.63 -$4.53 -$23.11 -$357.83 -$356.56 -$34.18 -$28.30 -$41.40 -$273.37 -$62.31 -$55.20 C F Statement  Invest. C. F
Total Accrual -$9.38 -$17.12 -$42.23 $322.41 $341.09 $26.64 $10.44 -$38.45 $306.34 -$34.98 $105.03 Accruals US $
Total Assets $576.0 $568.6 $614.7 $1,110.5 $1,616.9 $1,542.7 $1,627.4 $1,657.4 $2,030.5 $2,002.2 $2,096.0 Balance Sheet Assets US $
Accruals Ratio -1.63% -3.01% -6.87% 29.03% 21.10% 1.73% 0.64% -2.32% 15.09% -1.75% 5.01% Ratio US $
Fin. C. F. US$ -$15.17 -$36.53 -$71.41 $207.26 $228.81 -$61.24 -$65.22 -$132.29 $186.29 -$141.03 -$22.44 C F Statement  Fin. C. F US $
Total Accruals $5.79 $19.42 $29.18 $115.15 $112.29 $87.87 $75.66 $93.83 $120.05 $106.06 $127.47 Accruals US $
Accruals Ratio 1.00% 3.42% 4.75% 10.37% 6.94% 5.70% 4.65% 5.66% 5.91% 5.30% 6.08% Ratio US $
Net Income CDN$ $55.68 $26.35 $40.70 $93.72 $97.78 $120.09 $106.21 $103.55 $86.45 $138.13 $112.61 $127.47 $100.98 <-12 mths 383.82% <-Total Growth 10 Net Income
Oper C. F. $43.19 $75.07 $75.25 $193.14 $143.95 $138.65 $114.98 $124.35 $165.35 $97.78 $214.77 $77.78 C F Statement  Oper C. F. CDN $
Invest. C. F -$29.54 -$34.45 -$7.23 -$35.16 -$466.36 -$427.87 -$39.76 -$32.97 -$40.90 -$334.60 -$65.43 -$55.03 C F Statement  Invest. C. F
Total Accrual $42.02 -$14.28 -$27.32 -$64.26 $420.19 $409.31 $30.98 $12.16 -$37.99 $374.96 -$36.73 $104.72 Accruals CDN $
Total Assets $495.8 $877.0 $907.4 $935.3 $1,447.3 $1,940.3 $1,794.1 $1,896.3 $1,637.7 $2,485.3 $2,102.5 $2,089.7 Balance Sheet Assets CDN $
Accruals Ratio 8.47% -1.63% -3.01% -6.87% 29.03% 21.10% 1.73% 0.64% -2.32% 15.09% -1.75% 5.01% Ratio CDN $
Fin. C. F. CDN$ -$15.23 -$23.09 -$58.31 -$108.66 $270.12 $274.57 -$71.22 -$76.00 -$130.71 $228.02 -$148.10 -$22.37 C F Statement  Fin. C. F
Total Accruals $57.25 $8.81 $30.99 $44.40 $150.08 $134.74 $102.20 $88.16 $92.72 $146.94 $111.37 $127.09 Accruals CDN $
Accruals Ratio 11.55% 1.00% 3.42% 4.75% 10.37% 6.94% 5.70% 4.65% 5.66% 5.91% 5.30% 6.08% Ratio CDN $
Jan 14, 2012.  Last Estimates I got for 2010 and 2011 were $3.75 US and $4.00  US for EPS and $4.60 US and $4.90 US for CF.
Sep 26, 2010.  When I last looked, this company had estimates for 2009 and 2010 of $3.00 and $3.50 for earnings and $4.40 and $4.90 for cash flow.
Nov 25, 2009. In August 2009, I picked up earnings of $2.87 and $3.28 US for 2009 and 2010.  I also got cash flow of $4.15 and $4.55 US
Aug 23, 2009.  I picked up new estimates when I updated spreadsheet for 2008 annual report.  I would not be interested in this stock again until dividedends are increasing.
In Feb 2009, I picked up 2008 and 2009 earnings of 3.57 and $3.35 and cash flow of $5.04 and $4.63/  Earnings came in 2008 at 3.38 and CF at $2.39, a lot lower.
2006.  Sold.  Stock price is not going anywhere and they pay no dividend.
2005.  Stock is not performing badly.  I think it is a keeper.  They do know how to make a profit.
2003.  I still think that this stock is a keeper.  It is a solid performer and this is why I brought it in the first place.
2004.  Does not have a dividend, but so far it is a solid producing stock.
Since 1999 I have had 7.25 IRR.  Not great.  Keep eye on. TD has a BUY rating on this stock from Nov 2004. AR 2004
US -old 'DIIB.PK OTC
How they make their money.
Dorel Industries Inc. is a world class juvenile products and bicycle company. Dorel’s branded products include Safety 1st, Quinny, Cosco, Maxi-Cosi and Bébé Confort in Juvenile,
as well as Cannondale, Schwinn, GT, Mongoose and SUGOI in Recreational/Leisure. Dorel’s Home Furnishings segment markets a wide assortment of furniture products, both domestically produced and imported.
Dorel has facilities in seventeen countries, and sales worldwide.
There concentrated ownership of this company by the Schwartz family (66%) and Segel family (17%).  There are two classes of shares, Class A with multiple voting (10) and Class B, with subordinate voting rates (1).
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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