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/ Q2 2016
K-Bro Linen Inc. TSX: KBL OTC: KBRLF www.k-brolinen.com 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
$153.7 <-12 mths 6.31%
Revenue* $48.1 $52.2 $65.1 $74.1 $85.1 $87.5 $104.1 $116.9 $126.3 $131.2 $136.4 $144.5 $163 $173 $181 176.90% <-Total Growth 10 Revenue
Increase 24.73% 13.81% 14.86% 2.83% 18.88% 12.31% 8.07% 3.89% 3.99% 5.93% 12.77% 6.13% 4.62% 10.72% <-IRR #YR-> 10 Revenue
5 year Running Average $55.7 $64.9 $72.8 $83.2 $93.5 $104.0 $113.2 $123.0 $131.1 $140.3 $149.6 $159.6 6.79% <-IRR #YR-> 5 Revenue
Revenue per Share $10.89 $11.82 $11.85 $13.48 $12.15 $12.49 $14.85 $16.68 $17.99 $18.49 $17.14 $18.10 $20.32 $21.56 $22.56 11.29% <-IRR #YR-> 8 5 yr Running Average
Increase 23.34% 8.52% 0.22% 13.81% -9.88% 2.83% 18.88% 12.29% 7.88% 2.77% -7.30% 5.59% 12.24% 6.13% 4.62% 9.52% <-IRR #YR-> 5 5 yr Running Average
5 year Running Average $11.37 $12.04 $12.36 $12.97 $13.93 $14.83 $16.10 $17.03 $17.68 $18.41 $19.12 $19.94 4.35% <-IRR #YR-> 10 Revenue per Share
P/S (Price/Sales) Med 0.00 0.98 1.23 0.93 0.92 0.95 1.10 1.21 1.43 1.85 2.48 2.82 4.03% <-IRR #YR-> 5 Revenue per Share
P/S (Price/Sales) Close 1.07 1.08 0.93 1.00 0.80 1.08 1.23 1.33 1.60 2.14 2.69 2.82 1.99 1.88 1.79 5.67% <-IRR #YR-> 8 5 yr Running Average
*Revenue in M CDN $  P/S Med 10 yr  1.22 5 yr  1.85 63.00% Diff M/C 6.40% <-IRR #YR-> 5 5 yr Running Average
-$52.2 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $144.5
-$104.1 $0.0 $0.0 $0.0 $0.0 $144.5
-$55.7 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $131.1
-$83.2 $0.0 $0.0 $0.0 $0.0 $131.1
-$11.8 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $18.1
-$14.9 $0.0 $0.0 $0.0 $0.0 $18.1
-$11.37 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $17.68
-$12.97 $0.00 $0.00 $0.00 $0.00 $17.68
$21.9 <-12 mths 2.65%
Distributable Cash $6.7 $7.2 $7.7 $11.0 $14.0 $15.6 $17.0 $19.1 $18.4 $20.2 $21.4 25.62% <-Total Growth 10 Distributable Cash
Cash Divided by o/s shares Diluted $1.40 $1.64 $2.00 $2.22 $2.44 $2.73 $2.61 $2.84 $2.69 $2.76 <-12 mths 2.64%
Distributable Cash per Share $1.52 $1.39 $1.40 $1.66 $1.99 $2.22 $2.40 $2.72 $2.61 $2.85 $2.69 $2.76 <-12 mths 92.01% <-Total Growth 10 Distributable Cash
Increase -8.38% 0.79% 18.49% 19.88% 11.56% 8.11% 13.33% -4.04% 9.20% -5.61% 2.64% <-12 mths 5.89% <-IRR #YR-> 10 Distributable Cash
Yield 11.9% 12.7% 10.4% 17.1% 14.8% 12.1% 10.8% 9.4% 6.6% 6.2% 5.3% 6.8% <-12 mths 3.92% <-IRR #YR-> 5 Distributable Cash
5 year Running Average $9.33 $11.10 $13.06 $15.34 $16.81 $18.05 $19.21 $15.81 <-12 mths 12.79% <-IRR #YR-> 6 5 yr Running Average
Payout Ratio 68.0% 78.8% 78.5% 66.3% 55.3% 49.6% 46.9% 42.3% 45.2% 42.1% 44.6% 43.5% <-12 mths 11.59% <-IRR #YR-> 5 5 yr Running Average
Price/DC Median 7.65 10.48 8.92 6.70 5.98 7.39 8.43 9.46 13.12 14.90 18.99 16.43 <-12 mths 9.19 <-Median-> 10 Price/DC Median
Price/DC High 8.70 11.35 10.06 8.22 6.94 8.61 9.46 11.01 15.20 16.80 21.19 18.43 <-12 mths 10.54 <-Median-> 10 Price/DC High
Price/DC Low 6.60 9.60 7.78 5.18 5.03 6.17 7.39 7.90 11.04 13.00 16.80 14.43 <-12 mths 7.84 <-Median-> 10 Price/DC Low
Price/DC Close 8.40 7.89 9.63 5.86 6.77 8.24 9.27 10.61 15.17 16.18 18.94 14.64 <-12 mths 9.45 <-Median-> 10 Price/DC Close
Trailing P/DC Close 7.23 9.71 6.94 8.12 9.20 10.02 12.03 14.56 17.67 17.88 15.03 <-12 mths 9.86 <-Median-> 10 Trailing P/DC Close
Median Values DPR 10 Yrs 48.21% 5 Yrs   44.61% P/CF 5 Yrs   in order 13.12 15.20 11.04 15.17 11.60% Diff M/C 59.33% Diff M/C 10 DPR 75% to 95% best
Currently seems to be using Free Cash Flow
-$1.52 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.69 <--this should no longer count
-$2.22 $0.00 $0.00 $0.00 $0.00 $2.69 Because company is a corporation
-$9.33 $0.00 $0.00 $0.00 $0.00 $0.00 $19.21
-$11.10 $0.00 $0.00 $0.00 $0.00 $19.21
$1.50 <-12 mths -1.32%
EPS Basic $0.78 $0.74 $0.75 $0.72 $1.12 $1.13 $1.15 $1.60 $1.47 $1.72 $1.52 94.87% <-Total Growth 10 EPS Basic
EPS Diluted* $0.78 $0.74 $0.75 $0.71 $1.11 $1.11 $1.14 $1.59 $1.47 $1.72 $1.52 $1.71 $1.96 $2.06 94.87% <-Total Growth 10 EPS Diluted
Increase -5.13% 1.35% -5.33% 56.34% 0.00% 2.70% 39.47% -7.55% 17.01% -11.63% 12.50% 14.62% 5.10% 6.90% <-IRR #YR-> 10 Earnings per Share
Earnings Yield 6.1% 6.7% 5.6% 7.3% 8.2% 6.1% 5.1% 5.5% 3.7% 3.7% 3.0% 4.2% 4.8% 5.1% 6.49% <-IRR #YR-> 5 Earnings per Share
5 year Running Average $0.82 $0.88 $0.96 $1.13 $1.28 $1.41 $1.49 $1.60 $1.68 $1.79 10.49% <-IRR #YR-> 6 5 yr Running Average
10 year Running Average $1.11 $1.19 $1.28 $1.40 $1.54 10.98% <-IRR #YR-> 5 5 yr Running Average
* Diluted ESP per share  E/P 10 Yrs 5.53% 5Yrs 3.73%
-$0.78 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.52
-$1.11 $0.00 $0.00 $0.00 $0.00 $1.52
-$0.82 $0.00 $0.00 $0.00 $0.00 $0.00 $1.49
-$0.88 $0.00 $0.00 $0.00 $0.00 $1.49
Special Dividends $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 <-Median-> 10 Special Dividends
First real dividend $0.87
Dividend* $1.03 $1.10 $1.10 $1.10 $1.10 $1.10 $1.12 $1.15 $1.18 $1.20 $1.20 $1.20 $1.20 $1.20 16.36% <-Total Growth 10 Dividends
Increase 6.27% 0.38% 0.00% 0.00% 0.00% 2.25% 2.20% 2.56% 1.78% 0.00% 0.00% 0.00% 0.00% Count 11 Years of data
Dividends 5 Yr Running $1.09 $1.10 $1.10 $1.11 $1.13 $1.15 $1.17 $1.19 $1.20 $1.20 7.85% <-Total Growth 6 Dividends 5 Yr Running
Yield H/L Price 8.89% 7.52% 8.80% 9.89% 9.24% 6.71% 5.56% 4.47% 3.44% 2.83% 2.35% 2.64% 6.13% <-Median-> 10 Yield H/L Price
Yield on High  Price 7.81% 6.94% 7.80% 8.06% 7.96% 5.75% 4.96% 3.84% 2.97% 2.51% 2.11% 2.36% 5.35% <-Median-> 10 Yield on High  Price
Yield on Low Price 10.30% 8.21% 10.09% 12.79% 11.00% 8.04% 6.34% 5.35% 4.09% 3.24% 2.66% 3.01% 7.19% <-Median-> 10 Yield on Low Price
Yield on Close Price 8.09% 9.99% 8.15% 11.32% 8.16% 6.01% 5.06% 3.98% 2.98% 2.60% 2.36% 2.97% 2.97% 2.97% 5.53% <-Median-> 10 Yield on Close Price
Payout Ratio EPS 132.21% 148.09% 146.67% 154.94% 99.10% 99.10% 98.67% 72.30% 80.20% 69.77% 78.95% 70.18% 61.22% 58.25% 98.89% <-Median-> 10 DPR EPS
DPR EPS 5 Yr Running 132.70% 124.34% 114.63% 98.49% 88.06% 81.84% 78.68% 74.01% 71.35% 66.89% 98.49% <-Median-> 7 DPR EPS 5 Yr Running
Payout Ratio CFPS 63.99% 132.14% 87.09% 49.86% 64.97% 45.05% 41.79% 38.77% 43.60% 39.95% 54.40% 34.68% 31.01% 29.27% 47.45% <-Median-> 10 DPR CF
DPR CF 5 Yr Running 71.38% 65.17% 53.66% 46.46% 45.24% 41.67% 43.13% 41.35% 39.22% 36.06% 46.46% <-Median-> 7 DPR CF 5 Yr Running
Payout Ratio CFPS WC 63.99% 77.44% 72.74% 66.05% 50.77% 43.43% 44.73% 38.01% 40.70% 42.32% 40.03% 34.68% 31.01% 29.27% 44.08% <-Median-> 10 DPR CF WC
DPR CF WC 5 Yr Running 64.83% 59.14% 53.17% 46.83% 43.04% 41.68% 41.02% 38.97% 37.23% 34.76% 46.83% <-Median-> 7 DPR CF WC 5 Yr Running
Median Values 5 Yr Med 5 Yr Cl 3.44% 2.98% 5 Yr Med Payout 78.95% 41.79% 40.70% 1.53% <-IRR #YR-> 10 Dividends 70 to 80% utilites DPR
* Dividends per share  5 Yr Med and Cur. -13.79% -0.31% Last Div Inc ---> $0.096 $0.100 4.4% 1.75% <-IRR #YR-> 5 Dividends 50 to 60% non utilites DPR
-$1.03 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.20
-$1.10 $0.00 $0.00 $0.00 $0.00 $1.20
Historical Dividends Historical High Div 12.43% Low Div 2.19% Ave Div 7.31% Med Div 6.71% Close Div 6.01% Historical Dividends
High/Ave/Median Values Curr diff Exp. -76.12%     35.53% Exp. -59.40% Exp. -55.77% Exp. -50.62% High/Ave/Median 
Future Dividend Yield Div Yd $0.03 earning in 5 Years at IRR of 0.00% Div Inc. 0.00% Future Dividend Yield
Future Dividend Yield Div Yd 3.28% earning in 10 Years at IRR of 1.0% Div Inc. 10.46% Future Dividend Yield
Future Dividend Yield Div Yd 3.45% earning in 15 Years at IRR of 1.0% Div Inc. 16.10% Future Dividend Yield
Cost covered if held 5 years 47.36% 37.93% 44.60% 50.82% 48.31% 35.68% 29.32% 23.24% 17.52% 45.98% <-Median-> 6 Paid Median Price
Cost covered if held 10 years 97.80% 78.64% 92.43% 104.75% 97.80% <-Median-> 1 Paid Median Price
Yield if held 5 yrs 9.48% 7.72% 9.20% 10.60% 10.08% 7.31% 5.93% 4.66% 3.50% 9.34% <-Median-> 6 Paid Median Price
Yield if held 10 yrs 10.34% 8.24% 9.60% 10.79% 10.34% <-Median-> 1 Paid Median Price
Earnings less Dividends -$0.70 $0.09 $0.77 $1.28 $1.59 Dollar Test
Change in MV per Share $5.66 $13.23 $23.12 $30.56 $34.69 Dollar Test
Ratio -8.02 154.75 30.16 23.94 21.86 Dollar Test
Increase in Earnings 5 years $0.41
Rate profits have increased 25.84%
Graham No. $12.23 $12.33 $12.17 $12.07 $15.08 $15.07 $15.18 $18.57 $18.21 $23.07 $22.02 $23.50 $25.16 $25.79 80.12% <-Total Growth 10 Graham Price
Price/GP Ratio Med 0.95 1.18 1.03 0.92 0.79 1.09 1.33 1.38 1.88 1.84 2.32 1.93 1.26 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 1.08 1.28 1.16 1.13 0.92 1.27 1.50 1.61 2.18 2.08 2.59 2.17 1.39 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 0.82 1.08 0.90 0.71 0.66 0.91 1.17 1.16 1.58 1.61 2.05 1.70 1.12 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 1.04 0.89 1.11 0.81 0.89 1.21 1.47 1.55 2.17 2.00 2.31 1.72 1.61 1.57 1.34 <-Median-> 10 Price/GP Ratio
Prem/Disc Close 4.28% -11.01% 10.84% -19.46% -10.62% 21.42% 46.52% 55.38% 117.49% 99.90% 131.36% 72.04% 60.69% 56.74% 33.97% <-Median-> 10 Graham Price
Price Close $11.68 $12.75 $10.97 $13.49 $9.72 $13.48 $18.30 $22.24 $28.86 $39.60 $46.11 $50.95 $40.43 $40.43 $40.43 299.61% <-Total Growth 10 Stock Price
Increase 9.16% -13.96% 22.97% -27.95% 38.68% 35.76% 21.53% 29.77% 37.21% 16.44% 10.50% -20.65% 0.00% 0.00% 14.86% <-IRR #YR-> 10 Stock Price
P/E 16.35 14.82 17.99 13.69 12.14 16.49 19.51 18.15 26.94 26.81 33.52 23.64 20.63 19.63 22.73% <-IRR #YR-> 5 Stock Price
Trailing P/E 14.06 18.23 12.96 18.99 16.49 20.04 25.32 24.91 31.37 29.62 26.60 23.64 20.63 20.19% <-IRR #YR-> 10 Price & Dividend
Median 10, 5 Yrs D.  per yr 5.34% 4.45% % Tot Ret 26.42% 16.39% Price Inc 21.53% P/E:  18.07 26.81 27.18% <-IRR #YR-> 5 Price & Dividend
-$12.75 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $50.95
-$18.30 $0.00 $0.00 $0.00 $0.00 $50.95
-$12.75 $1.10 $1.10 $1.10 $1.10 $1.10 $1.12 $1.15 $1.18 $1.20 $52.15
-$18.30 $1.12 $1.15 $1.18 $1.20 $52.15
Price Median H/L $11.61 $14.57 $12.50 $11.13 $11.91 $16.41 $20.22 $25.73 $34.25 $42.47 $51.09 $45.37 340.24% <-Total Growth 10 Stock Price
Increase 25.51% -14.18% -11.00% 7.06% 37.74% 23.26% 27.23% 33.12% 24.02% 20.30% -11.20% 15.98% <-IRR #YR-> 10 Stock Price
P/E 14.88 19.68 16.67 15.67 10.73 14.78 17.74 16.18 23.30 24.69 33.61 26.53 25.51% <-IRR #YR-> 5 Stock Price
Trailing P/E 18.67 16.89 14.83 16.77 14.78 18.22 22.57 21.54 28.89 29.70 29.85 21.68% <-IRR #YR-> 10 Price & Dividend
P/E on Run. 5 yr Ave 14.56 18.56 20.98 22.73 26.67 30.21 34.33 28.32 30.31% <-IRR #YR-> 5 Price & Dividend
P/E on Run. 10 yr Ave 38.19 43.08 35.36 16.67 P/E Ratio Historical Median
Median 10, 5 Yrs D.  per yr 5.70% 4.80% % Tot Ret 26.31% 15.85% Price Inc 24.02% P/E:  17.20 23.30
-$11.61 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $51.09
-$16.41 $0.00 $0.00 $0.00 $0.00 $51.09
-$11.61 $1.10 $1.10 $1.10 $1.10 $1.10 $1.12 $1.15 $1.18 $1.20 $52.29
-$16.41 $1.12 $1.15 $1.18 $1.20 $52.29
High Months Aug Apr Jun Feb Dec Dec Mar Nov Dec Dec Jun Feb
Price High $13.20 $15.78 $14.10 $13.65 $13.82 $19.12 $22.70 $29.95 $39.68 $47.89 $56.99 $50.90 331.74% <-Total Growth 10 Stock Price
Increase 19.55% -10.65% -3.19% 1.25% 38.35% 18.72% 31.94% 32.49% 20.69% 19.00% -10.69% 15.75% <-IRR #YR-> 10 Stock Price
P/E 16.92 21.32 18.80 19.23 12.45 17.23 19.91 18.84 26.99 27.84 37.49 29.77 24.41% <-IRR #YR-> 5 Stock Price
Trailing P/E 20.23 19.05 18.20 19.46 17.23 20.45 26.27 24.96 32.58 33.13 33.49 19.23 P/E Ratio Historical Median
Median 10, 5 Yrs Price Inc 20.69% P/E:  19.57 26.99 27.50 P/E Ratio Historical High
-$13.20 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $56.99
-$19.12 $0.00 $0.00 $0.00 $0.00 $56.99
Low Months Mar Dec Jan Oct Jan Jan Oct Mar Jan Jun Aug Apr
Price Low $10.01 $13.35 $10.90 $8.60 $10.00 $13.69 $17.74 $21.50 $28.81 $37.05 $45.19 $39.84 351.45% <-Total Growth 10 Stock Price
Increase 33.37% -18.35% -21.10% 16.28% 36.90% 29.58% 21.20% 34.00% 28.60% 21.97% -11.84% 16.27% <-IRR #YR-> 10 Stock Price
P/E 18.04 14.53 12.11 9.01 12.33 15.56 13.52 19.60 21.54 29.73 23.30 26.98% <-IRR #YR-> 5 Stock Price
Trailing P/E 17.12 14.73 11.47 14.08 12.33 15.98 18.86 18.12 25.20 26.27 26.21 15.05 P/E Ratio Historical Median
Median 10, 5 Yrs Price Inc 28.60% P/E:  15.05 19.60 12.16 P/E Ratio Historical Low
-$10.01 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $45.19
Long Term Debt Yes 0 --> $0.00 $2.35 $7.25 Debt
Ratio to Market Cap 0.00 0.01 0.02 0.00 <-Median-> 2 % of Market C.
Goodwill & Intangibles $31.47 $29.33 $27.21 $25.39 $24.45 Intangibles Goodwill
Ratio to Market Cap 0.16 0.10 0.07 0.06 0.08 0.09 <-Median-> 4 % of Market C.
Market Cap $52 $56 $60 $74 $68 $94 $128 $156 $203 $281 $367 $407 $324 $324 $324 622.59% <-Total Growth 10 Market Cap
Diluted # of Shares in Million 4.42 5.23 5.50 6.75 7.00 6.99 6.98 6.99 7.05 7.11 7.93 7.96 79.57% <-Total Growth 10 Diluted
Change 18.37% 5.18% 22.72% 3.74% -0.10% -0.17% 0.19% 0.87% 0.81% 11.52% 0.34% 2.30% <-Median-> 10 Change
Average # of Shares in Million 4.42 5.22 5.46 6.72 6.95 6.91 6.92 6.98 7.02 7.09 7.92 7.95 79.35% <-Total Growth 10 Average
Change 18.18% 4.70% 22.96% 3.38% -0.59% 0.20% 0.90% 0.59% 0.97% 11.70% 0.36% 2.18% <-Median-> 10 Change
Difference 0.0% 5.3% 0.6% 4.3% 0.8% 1.4% 1.3% 0.5% 1.0% 12.3% 0.8% 0.9% 1.15% <-Median-> 10 Difference
$20.50 <-12 mths 16.35%
# of Share in Millions 4.416 4.416 5.496 5.496 7.005 7.005 7.005 7.006 7.019 7.095 7.960 7.986 8.023 8.023 8.023 6.10% <-IRR #YR-> 10 Shares
Change 24.46% 0.00% 27.45% 0.00% 0.00% 0.02% 0.17% 1.09% 12.18% 0.33% 0.47% 0.00% 0.00% 2.66% <-IRR #YR-> 5 Shares
CF fr Op $M $7.1 $4.6 $6.9 $15.5 $11.9 $17.1 $18.9 $20.8 $19.2 $23.9 $17.6 $27.8 $31.1 $32.9 147.53% <-Total Growth 10 Cash Flow
Increase -35.96% 52.30% 122.62% -23.26% 44.22% 10.26% 10.33% -7.80% 24.62% -26.32% 57.58% 11.85% 5.94% SO S. Issued
5 year Running Average $9.2 $11.2 $14.0 $16.8 $17.6 $20.0 $20.1 $21.9 $23.9 $26.6 118.54% <-Total Growth 6 CF 5 Yr Running
CFPS $1.61 $0.83 $1.26 $2.21 $1.69 $2.44 $2.69 $2.96 $2.70 $3.00 $2.21 $3.46 $3.87 $4.10 36.89% <-Total Growth 10 Cash Flow per Share
Increase -48.54% 52.30% 74.68% -23.26% 44.22% 10.24% 10.14% -8.80% 11.08% -26.56% 56.84% 11.85% 5.94% 9.49% <-IRR #YR-> 10 Cash Flow
5 year Running Average $1.52 $1.69 $2.06 $2.40 $2.50 $2.76 $2.71 $2.87 $3.05 $3.33 0.59% <-IRR #YR-> 5 Cash Flow
P/CF on Med Price 7.20 17.56 9.90 5.04 7.03 6.72 7.51 8.68 12.66 14.14 23.16 13.11 3.19% <-IRR #YR-> 10 Cash Flow per Share
P/CF on Closing Price 7.91 13.23 10.68 4.41 7.96 7.49 8.26 9.73 14.64 15.35 23.10 11.68 -2.01% <-IRR #YR-> 5 Cash Flow per Share
25.83% Diff M/C 10.14% <-IRR #YR-> 6 CFPS 5 yr Running
Excl.Working Capital CF $0.0 $3.2 $1.4 -$3.8 $3.3 $0.6 -$1.24 $0.42 $1.37 -$1.34 $6.32 $0.00 $0.00 $0.00 9.98% <-IRR #YR-> 5 CFPS 5 yr Running
CF fr Op $M WC $7.1 $7.8 $8.3 $11.7 $15.2 $17.7 $17.6 $21.2 $20.6 $22.6 $23.9 $27.8 $31.1 $32.9 236.34% <-Total Growth 10 Cash Flow less WC
Increase 9.29% 6.87% 40.36% 30.10% 16.90% -0.70% 20.50% -3.17% 9.79% 6.07% 15.97% 11.85% 5.94% 12.90% <-IRR #YR-> 10 Cash Flow less WC
5 year Running Average $10.0 $12.1 $14.1 $16.7 $18.5 $19.9 $21.2 $23.2 $25.2 $27.6 6.17% <-IRR #YR-> 5 Cash Flow less WC
CFPS Excl. WC $1.61 $1.42 $1.51 $1.67 $2.17 $2.53 $2.51 $3.02 $2.90 $2.84 $3.00 $3.46 $3.87 $4.10 13.31% <-IRR #YR-> 6 CF less WC 5 Yr Run
Increase -12.19% 6.87% 10.13% 30.10% 16.90% -0.72% 20.29% -4.22% -2.13% 5.72% 15.43% 11.85% 5.94% 11.78% <-IRR #YR-> 5 CF less WC 5 Yr Run
5 year Running Average $1.67 $1.86 $2.08 $2.38 $2.63 $2.76 $2.85 $3.04 $3.21 $3.45 6.40% <-IRR #YR-> 10 CFPS - Less WC
P/CF on Med Price 7.20 10.29 8.27 6.68 5.50 6.48 8.04 8.51 11.82 14.98 17.04 13.11 3.43% <-IRR #YR-> 5 CFPS - Less WC
P/CF on High Price 8.19 11.15 9.32 8.20 6.38 7.55 9.03 9.90 13.70 16.89 19.01 14.71 9.61 <-Median-> 10 P/CF High Price
P/CF on Low Price 6.21 9.43 7.21 5.16 4.62 5.40 7.05 7.11 9.94 13.07 15.08 11.51 7.16 <-Median-> 10 P/CF Low Price
P/CF on Closing Price 7.91 7.75 8.92 5.84 6.22 7.22 8.84 9.54 13.67 16.26 17.00 11.68 10.45 9.30% <-IRR #YR-> 6 CFPS 5 yr Running
*Operational Cash Flow per share CF/-WC P/CF Med 10 yr 9.29 5 yr  12.66 P/CF Med 10 yr 8.39 5 yr  11.82 39.35% Diff M/C 8.96% <-IRR #YR-> 5 CFPS 5 yr Running
-$1.61 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.21 Cash Flow per Share
-$2.44 $0.00 $0.00 $0.00 $0.00 $2.21 Cash Flow per Share
-$1.52 $0.00 $0.00 $0.00 $0.00 $0.00 $2.71 CFPS 5 yr Running
-$1.69 $0.00 $0.00 $0.00 $0.00 $2.71 CFPS 5 yr Running
-$7.1 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $23.9 Cash Flow less WC
-$17.7 $0.0 $0.0 $0.0 $0.0 $23.9 Cash Flow less WC
-$10.0 $0.0 $0.0 $0.0 $0.0 $0.0 $21.2 CF less WC 5 Yr Run
-$12.1 $0.0 $0.0 $0.0 $0.0 $21.2 CF less WC 5 Yr Run
-$1.61 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.00 CFPS - Less WC
-$2.53 $0.00 $0.00 $0.00 $0.00 $3.00 CFPS - Less WC
-$1.67 $0.00 $0.00 $0.00 $0.00 $0.00 $2.85 CFPS 5 yr Running
-$1.86 $0.00 $0.00 $0.00 $0.00 $2.85 CFPS 5 yr Running
OPM 13.64% 7.00% 9.37% 18.16% 13.55% 16.44% 16.14% 16.48% 14.62% 17.52% 12.19% -10.61% <-Total Growth 10 OPM
Increase -48.66% 33.82% 93.82% -25.37% 21.31% -1.82% 2.09% -11.25% 19.83% -30.44% Should increase  or be stable.
Diff from Ave -11.4% -54.5% -39.1% 18.1% -11.9% 6.9% 4.9% 7.1% -4.9% 13.9% -20.8% 0.00 <-Median-> 10 OPM
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 15.38% 5 Yrs 16.14% should be  zero, it is a   check on calculations
Current Assets $12.29 $16.43 $18.54 $17.48 $18.71 $22.56 $24.53 $21.16 $25.03 $39.11 $29.50 $31.89 Liquidity ratio of 1.5 and up, best
Current Liabilities $9.10 $10.32 $13.15 $13.53 $10.52 $13.42 $17.29 $16.09 $19.64 $17.39 $20.83 $18.54 1.42 <-Median-> 10 Ratio
Liquidity 1.35 1.59 1.41 1.29 1.78 1.68 1.42 1.31 1.27 2.25 1.42 1.72 1.42 <-Median-> 5 Ratio
Liq. with CF aft div 1.63 1.45 1.48 1.86 2.17 2.38 2.05 2.11 1.83 3.08 1.80 2.70 2.05 <-Median-> 5 Ratio
Liq. CF re  Inv+Div  0.33 0.55 0.91 0.93 1.56 1.11 1.45 1.18 0.81 1.64 0.83 2.70 1.18 <-Median-> 5 Ratio
Assets $58.46 $75.07 $83.34 $85.93 $82.82 $92.13 $91.43 $94.80 $112.33 $132.64 $143.02 $148.07 Debt Ratio of 1.5 and up, best
Liability $20.84 $24.91 $35.10 $22.06 $19.02 $28.42 $28.49 $27.12 $41.21 $23.20 $29.78 $32.90 3.37 <-Median-> 10 Ratio
Debt Ratio 2.80 3.01 2.37 3.89 4.35 3.24 3.21 3.50 2.73 5.72 4.80 4.50 3.50 <-Median-> 5 Ratio
Book Value $37.62 $50.16 $48.24 $63.86 $63.79 $63.71 $62.93 $67.69 $71.12 $109.44 $113.24 $115.17 $115.17 $115.17 201.04% <-Total Growth 10 Book Value
Book Value per share $8.52 $9.13 $8.78 $9.12 $9.11 $9.09 $8.98 $9.64 $10.02 $13.75 $14.18 $14.35 $14.35 $14.35 66.48% <-Total Growth 10 Book Value per share
Change 7.15% -3.83% 3.87% -0.11% -0.13% -1.24% 7.36% 3.93% 37.18% 3.14% 1.23% 0.00% 0.00% 38.92% P/B Ratio Current/10 Year Median
P/B Ratio (Median) 1.36 1.60 1.42 1.22 1.31 1.80 2.25 2.67 3.42 3.09 3.60 3.16 1.80 P/B Ratio Historical Median
P/B Ratio (Close) 1.50 1.20 1.54 1.07 1.48 2.01 2.48 2.99 3.95 3.35 3.59 2.82 2.82 2.82 5.23% <-IRR #YR-> 10 Book Value per Share
Change -19.70% 27.87% -30.63% 38.83% 35.94% 23.05% 20.87% 32.02% -15.12% 7.14% -21.61% 0.00% 0.00% 9.29% <-IRR #YR-> 5 Book Value per Share
Leverage (A/BK) 1.55 1.50 1.73 1.35 1.30 1.45 1.45 1.40 1.58 1.21 1.26 1.29 1.42 <-Median-> 10 A/BV
Debt/Equity Ratio 0.55 0.50 0.73 0.35 0.30 0.45 0.45 0.40 0.58 0.21 0.26 0.29 0.42 <-Median-> 10 Debt/Eq Ratio
Averages P/BV 10 yr Med 2.03 5 yr Med 3.09 38.92% Diff M/C 1.45 Historical A/BV
-$8.52 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $14.18
-$9.09 $0.00 $0.00 $0.00 $0.00 $14.18
$11.93 <-12 mths -1.18%
Comprehensive Income $3.88 $4.09 $4.70 $7.88 $7.84 $7.93 $11.15 $10.34 $12.20 $12.07 211.18% <-Total Growth 9 Comprehensive Income
Increase 5.41% 15.08% 67.48% -0.56% 1.19% 40.63% -7.29% 18.01% -1.07% 1.2% <-Median-> 5 Comprehensive Income
ROE 7.7% 8.5% 7.4% 12.4% 12.3% 12.6% 16.5% 14.5% 11.1% 10.7% 12.6% <-Median-> 5 Comprehensive Income
5Yr Median 8.5% 12.3% 12.4% 12.6% 12.6% 12.6% 13.44% <-IRR #YR-> 9 Comprehensive Income
% Difference from NI 0.0% -0.6% -2.4% 1.0% 0.6% 0.0% 0.0% 0.0% 0.0% 0.0% 9.02% <-IRR #YR-> 5 Comprehensive Income
Median Values Diff 5, 10 yr 0.0% 0.0%
-$3.9 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $12.1
-$7.8 $0.0 $0.0 $0.0 $0.0 $12.1
Current Liability Coverage Ratio 0.78 0.75 0.63 0.86 1.44 1.32 1.02 1.32 1.05 1.30 1.15   CFO / Current Liabilities
5 year Median 0.78 0.86 1.02 1.32 1.32 1.30 1.15 1.15 <-Median-> 5 Current Liability Cov Ratio
Asset Efficiency Ratio 12.17% 10.36% 9.97% 13.58% 18.33% 19.26% 19.27% 22.39% 18.30% 17.02% 16.74% CFO / Total Assets
5 year Median 12.17% 13.58% 18.33% 19.26% 19.26% 19.26% 18.30% 18.3% <-Median-> 5 Return on Assets 
Return on Assets 5.9% 5.2% 4.9% 5.6% 9.4% 8.5% 8.7% 11.8% 9.2% 9.2% 8.4% Net  Income/Assets ROA
5Yr Median 5.6% 5.6% 8.5% 8.7% 9.2% 9.2% 9.2% 9.2% <-Median-> 5 ROA
ROE 9.2% 7.7% 8.5% 7.5% 12.2% 12.2% 12.6% 16.5% 14.5% 11.1% 10.7% Net Inc/ Shareholders' equity ROE
5Yr Median 8.5% 8.5% 12.2% 12.2% 12.6% 12.6% 12.6% 12.6% <-Median-> 5 ROE
$11.93 <-12 mths -1.18%
Net Income $3.45 $3.88 $4.11 $4.82 $7.80 $7.79 $7.93 $11.15 $10.34 $12.20 $12.07 $16.30 $18.00 249.58% <-Total Growth 10 Net Income
Increase 12.34% 6.09% 17.11% 61.93% -0.22% 1.84% 40.63% -7.29% 18.01% -1.07% 35.07% 10.43% EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average $4.8 $5.7 $6.5 $7.9 $9.0 $9.9 $10.7 $12.4 $13.8 13.33% <-IRR #YR-> 10 Net Income
Operating Cash Flow $7.12 $4.56 $6.94 $15.45 $11.86 $17.11 $18.86 $20.81 $19.19 $23.91 $17.62 9.16% <-IRR #YR-> 5 Net Income
Investment Cash Flow -$36.52 -$17.12 -$8.24 -$13.57 -$4.14 -$15.48 -$7.13 -$12.59 -$24.87 -$15.22 -$24.14 14.31% <-IRR #YR-> 6 5 Yr Running Average
Total Accruals $32.86 $16.44 $5.42 $2.93 $0.08 $6.16 -$3.80 $2.93 $16.02 -$15.22 -$15.22 13.58% <-IRR #YR-> 5 5 Yr Running Average
Total Assets $58.46 $75.07 $83.34 $85.93 $82.82 $92.13 $91.43 $94.80 $112.33 $132.64 $143.02 Balance Sheet Assets
Accruals Ratio 56.21% 21.90% 6.50% 3.41% 0.09% 6.68% -4.16% 3.09% 14.26% -11.47% -10.64% -4.16% <-Median-> 5 Ratio
EPS/CF Ratio 0.48 0.52 0.50 0.43 0.51 0.44 0.45 0.53 0.51 0.61 0.51 0.51 <-Median-> 10 EPS/CF Ratio
-$3.5 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $12.1
-$7.8 $0.0 $0.0 $0.0 $0.0 $12.1
-$4.8 $0.0 $0.0 $0.0 $0.0 $0.0 $10.7
-$5.7 $0.0 $0.0 $0.0 $0.0 $10.7
Chge in Close 9.16% -13.96% 22.97% -27.95% 38.68% 35.76% 21.53% 29.77% 37.21% 16.44% 10.50% -20.65% 0.00% 0.00% count 12 Change in Close
up/down/neutral down down down down down up up count 7
Any Predictions? yes yes % right count 2 28.57%
Financial Cash Flow $29.41 $12.56 $1.30 -$1.89 -$7.72 -$1.63 -$11.73 -$8.22 $5.68 $5.05 -$7.22 C F Statement  Financial CF
Total Accruals $3.45 $3.88 $4.11 $4.82 $7.80 $7.79 $7.93 $11.15 $10.34 -$1.55 $25.81 Accruals
Accruals Ratio 5.91% 5.17% 4.94% 5.61% 9.42% 8.45% 8.67% 11.76% 9.20% -1.17% 18.05% 9.20% <-Median-> 5 Ratio
Cash $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $13.74 $0.00 $0.00 Cash
Cash per Share $0.00 $0.00 $0.00 $1.73 $0.00 $0.00 $0.00 <-Median-> 5 Cash per Share
Percentage of Stock Price 0.00% 0.00% 0.00% 3.74% 0.00% 0.00% 0.00% <-Median-> 5 % of Stock Price
October 3, 2016.  Last estimates were for 2015, 2016 and 2017 of $148M, $162M and $170M for Revenue, $1.63, $2.04 and $2.26 for EPS, $2.98, $3.72 and $3.92 for CFPS and $12.9M, $16.3M and $18M for Net Income.
October 6, 2015.  Last estimates were for 2014, 2015 and 2016 of $136M, $150M and 164M for Revenue, $1.60 and $1.72 for 2014 and 2015 for EPS, $2.91, $3.26 and 3.76 for CFPS.
September 28, 2014.  Last estimates were for 2013, 2014 and 2015 of $131M, $143M and $151M for Revenue, $1.38, $1.77 and $2.03 for EPS, $2.57, $3.12 and $3.64 for CFPS
September 14, 2013.  Last estimates were for 2012 and 2013 of $128.2 and $133.4M for Revenue and $15.6 for DI for 2012 and $1.36 and $1.47 for EPS.
July 13, 2012.  The last estimates were for 2011 and 2012.  Revenue was $111.9M and $120.6M, D Cash was $2.12 and $2.23, EPS was $1.14 and $1.27.
Jun 11, 2011.  When I last looked I got estimates for 2010 ,  2011 and 2012  of $1.19, $1.12 and 1.16 respectively.
Estimated earnings has gone up for 2011 above dividend payments, however, they earned only $.22 in the first quarter and paid out $.28 in dividends.  Book Value as therefore gone down and deficit up.
Feb 12, 2011.  Last I looked I got 2009 earnings of $.97 and $.99.
They have changed from a Unit Trust to a corporation.  Symbol changed from KBL.UN to just KBL.  And K-Bro Linen Income Fund to K-Bro Linen Inc
This fund was declared  Dec 10, 2004 and then restated and amended 3 February 2005.  They have increase the amount of distributions, but in the last 3 years, there has been no increase in distribution per unit.
Company was started in the early 1950's.
Issued shares in 2008 to buy equitment, for business acquisitions and paying off debts.
Issued shares in 2006 for buying equipment and business acquisitions.
Would I buy this company and Why.
Dividends
Dibvidends are paid monthly.  Dividends are declared in one month for shareholders of record and paid in the following month. 
For example, the dividend declared for shareholders of record of February 28, 2014 was paid on March 14, 2014.
Why am I following this stock. 
People were talking about this stock at the 2009 Toronto Money Show.  This was one income trust being touted as currently a good buy with very good yield.
It was also recommended by Aaron Dunn who is the Senior Equity Analyst for Keystone Publishing Corp, a publisher of Canadian investment newsletters.  
Screening for small-caps  See HNZ
K-Bro Linen Inc. (KBL/TSX), founded as Stork Diaper Service in 1954, owns and operates laundry and linen processing facilities in Canada, employing about 1,500 people in Victoria, Vancouver, Edmonton, Calgary, Toronto and Quebec City.
K-Bro gets about 75% of its revenue from contracts to clean linen at hospitals, nursing homes and other health-care facilities, and about 25% from hotels and other commercial clients. K-Bro, another former income trust, announced a 9.167¢ per share monthly payout.
Edmonton-based K-Bro’s debt to assets ratio of 12.6% is among the lowest in the industry, while its 5.5% dividend yield helped investors enjoy a 50% total return over the past year. It is thinly traded, however.
Richard Morrison wrote about small caps in the Financial Post in February 2011.  He was screening financially healthy, profitable, reasonably valued small companies.  He got 18 of them, many were former income trusts.
One of the 18 stocks was this stock. 
http://business.financialpost.com/2011/02/11/screening-for-small-caps/#more-27224 
How they make their money.
K-Bro is the largest owner and operator of laundry and linen processing facilities in Canada. K-Bro provides a comprehensive range of general linen and operating room linen processing, management and 
distribution services to healthcare institutions, hotels and other commercial accounts. K-Bro currently has seven processing plants in six Canadian cities: Quebec City, Toronto, Edmonton, Calgary, Vancouver and Victoria. 
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
Date Jul 13 2012 Sep 14 2013 Sep 28 2014 Oct 7 2015 Oct 3 2016
McCurdy, Linda Jane 0.105 1.48% 0.108 1.36% 0.124 1.56% 0.138 1.72%
CEO - Shares - Amount $4.159 $5.000 $6.342 $5.582
Options - percentage 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00%
Options - amount $0.000 $0.000 $0.000 $0.000
Plaquin, Kristie Lynn 0.002 0.02% 0.002 0.03% 0.003 0.04%
CFO - Shares - Amount $0.081 $0.103 $0.118
Options - percentage 0.000 0.00% 0.000 0.00% 0.000 0.00%
Options - amount $0.000 $0.000 $0.000
Burrows, Christopher Terrence James 0.006 0.08%
CFO - Shares - Amount $0.219
Options - percentage 0.000 0.00%
Options - amount $0.000
Gannon, Jeffrey Ronald 0.006 0.08% 0.006 0.08% 0.008 0.10% 0.009 0.12%
Officer - Shares - Amount $0.232 $0.283 $0.409 $0.381
Options - percentage 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00%
Options - amount $0.000 $0.000 $0.000 $0.000
Hills, Matthew Bruce 0.001 0.01% 0.007 0.09% 0.008 0.10% 0.008 0.10%
Director - Shares - Amount $0.025 $0.327 $0.388 $0.335
Options - percentage 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00%
Options - amount $0.000 $0.000 $0.000 $0.000
Smith, Ross Siddall 0.005 0.06% 0.005 0.07% 0.006 0.08%
Chairman - Shares - Amt $0.225 $0.276 $0.245
Options - percentage 0.000 0.00% 0.000 0.00% 0.000 0.00%
Options - amount $0.000 $0.000 $0.000
Increase in O/S Shares $0.05 0.70% 0.040 0.57% 0.025 0.31% 0.026 0.33%
due to SO $1.934 $1.589 $1.148 $1.324
Book Value $1.580 $1.237 $1.136 $1.304
Insider Buying $0.000 $0.000
Insider Selling $0.430 $0.204
Net Insider Selling $0.315 $0.430 $0.204
% of Market Cap 0.09% 0.11% 0.06%
Directors 5 5 4 4
Women 1 20% 1 20% 1 25% 1 25%
Minorities 0 0% 0 0% 0 0% 0 0%
Institutions/Holdings 6 27.27% 14 36.63% 17 33.92% 23 44.29% 18 45.37%
Reuters 1.92 27.36% 2.386 33.63% 2.415 30.34% 3.537 44.44% 3.640 45.37%
3 month change 0.03 1.71% 0.029 1.24% 0.016 0.69% -0.018 -0.49% 0.126 3.59%
1.89 2.357 2.399 3.555 3.514
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